Admiral.CFD

CFD or Contracts For Differences, is an agreement between buyer and seller, that buyer will pay the seller the difference between current value of a share and its value at the end of the contract. Consequently, CFDs are financial derivatives that allow traders to benefit from price movements up (long position) as well as down (short position). There is no expiration date, hence the position is closed when a second reverse trade is done; at that point profit or loss occurs. Unlike with trading shares, you do not have to buy an entire share, paying the full price, you just need to purchase CFDs (Contract For Difference) that is traded on margin, thus maximizing your capital while sustaining the same exposure with less funds. For Instance, with Admiral Markets, you are able to open an equivalent position of individual equity shares with a margin of just 10% in most of available markets. CFDs for markets listed below are traded in a separate one of the most comprehensive platforms - the CFD Trader. Ultimate charting and trend detection tools of the CFD Trader will allow you to look at the markets from virtually every angle, along with general workspace organization flexibility CFD Trader is going to meet most demands of any trading professional.

Admiral.CFD account details

In order to start trading CFDs on your real account login to your Trader's Room, proceed with new account opening and select Admiral.CFD as your desired account type. If you do not have a Trader's Room login name yet - click here - the registration process is fast and easy to complete within 5 minutes.

Not ready to go live? Try Admiral.CFD account and explore the world of CFDs with our free 30-day demo account. Register here

Please note that Admiral.CFD accounts are available only to our clients from European Union member states and on exclusive basis to clients from Bosnia and Herzegovina, Croatia, Iceland, Macedonia, Montenegro, Moldova, Norway, Russia, Serbia, Switzerland

Non US Equities CFD
Country	Currency	Commision per side*	Minimum Fee**	Price and Interest for Finance Adjustments	Margin requirement (%)
Australia	AUD	0,1%	10 AUD	BBA AUD LIBOR Spot Next rate at 17:00 New York time	10
Austria	EUR	0,1%	10 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Belgium	EUR	0,09%	9 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Denmark	DKK	0,09%	70 DKK	BBA DKK LIBOR Spot Next rate at 17:00 New York time	10
Finland	EUR	0,09%	9 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
France	EUR	0,07%	7 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Germany	EUR	0,07%	7 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Greece	EUR	0,45%	10 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	20
Hong Kong	HKD	0,3%	25 HKD	HIBOR – Hong Kong Interbank Offer Rate at 17:00 New York time	10
Hungary	HUF	0,2%	2000 HUF	BBA LIBOR HUF Overnight rate at 17:00 New York time	25
Italy	EUR	0,07%	7 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Netherlands	EUR	0,09%	9 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Norway	NOK	0,09%	70 NOK	NIBOR one week rate at 17:00 New York time	10
Poland	PLN	0,2%	20 PLN	WIBOR - Warsaw Interbank Offer Rate Overnight at 17:00 New York time	25
Portugal	EUR	0,07%	7 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Singapore	SGD	0,25%	20 SGD	Association of Banks in Singapore SIBOR 1 Month at 17:00 New York time	10
South Africa	ZAR	0,45%	150 ZAR	BBA LIBOR ZAR Overnight rate at 17:00 New York time	10
Spain	EUR	0,07%	7 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York time	10
Sweden	SEK	0,09%	50 SEK	Stockholm Interbank Offer Tom/Next rate at 17:00 New York time	10
Switzerland	CHF	0,1%	15 CHF	BBA CHF LIBOR Spot Next rate at 17:00 New York time	10
United Kingdom	GBP	0,07%	7 GBP	BBA GBP LIBOR Overnight rate at 17:00 New York time	10
Euro Sector ETFs	EUR	0,1%	10 EUR	BBA LIBOR EUR Overnight rate at 17:00 New York Time	10
*Commission per side means that client is charged each time when opens a trade (makes a transaction) as well as when this trade is being closed. ** Clients will be charged a Minimum Fee each time when total per side commission for each particular transaction remains lower than Minimum Fee values indicated above

US Equities CFD
Country	Currency	Commission per share*	Additional per transaction fee (fixed)**	Price and Interest for Finance Adjustments	Margin requirement (%)
United States (Equities, ADR and ETF CFDs)	USD	$0,025	3 USD or EUR	BBA USD LIBOR Overnight rate at 17:00 New York time	10
Canada (Equities, ADR and ETF CFDs)	USD	$0,025	3 USD or EUR	BBA USD LIBOR Overnight rate at 17:00 New York time	10
*Per share commission is being charged per side with one US cent accuracy. If your per-share commission will reflect a fraction of a cent - commission amount will be rounded up to the next second decimal. (Example: $0,125 will be rounded up to $0,13) **Additional per transaction fee applies to all transactions in US and Canada markets. Per transaction fee is charged in Admiral.CFD account's base currency. So if client's Admiral.CFD base currency is euro, for a transaction of 100 CFDs client will be charged 100 X $0,025 = 2,5 USD that will be converted into trading account base currency (approx. 1,95 euro) and additional per transaction fee of 3 EUR. Total commission for such transaction is 1,95 + 3 = 4,95 Euro

Market Trading Hours and Tick Factors
Country	Trading Hours	Tick factor (per 100 CFDs)
Australia	10:00 - 16:00 EDT(UTC+11)(opening times are staggered from 10:00 Sydney time and are approximately: A-B 10:00; C-F 10:03; G-M 10:05; N-R 10:07; S-Z 10:09)	1 AUD cent
Austria	09:00 - 17:30 (CET)	1 Euro cent
Belgium	9:00 - 17:30 (CET)	1 Euro cent
Denmark	09:00 - 16:55 (CET)	1 DK Oere
Finland	10:00 - 18:20 (EET)	1 Euro cent
France	9:00 - 17:30 (CET)	1 Euro cent
Germany	9:00 - 17:30 (GMT)	1 Euro cent
Greece	10:30-17:00 (EET)	1 Euro cent
Hong Kong	09:30 - 12:00(HKT); 13:00 - 16:00(HKT) Hong Kong time	1 HKD cent
Hungary	09:02 - 17:00 (CET)	1 Filler
Italy	9:10 - 17:25 (CET)	1 Euro cent
Netherlands	9:00 - 17:30 (CET)	1 Euro cent
Norway	09:00 - 17:20 (CET)	1 NO Oere
Poland	9:00 - 17:20 (CET)	1 Polish Grosz
Portugal	09:00 - 17:30 (CET)	1 Euro cent
Singapore	09:00 - 17:00 (SGT) Singapore Time	1 SGD cent
South Africa	09:00 - 17:00(SAST) Johannesburg time	1 ZAR cent
Spain	9:00 - 17:30 (CET)	1 Euro cent
Sweden	09:00 - 17:20 (CET)	1 SE Oere
Switzerland	09:00 - 17:20 (CET)	1 Centime
United Kingdom	8:00 - 16:30 (GMT)	1 Pence
Euro Sector ETFs	8:00 - 16:30 (GMT) Local: 9:00 - 17:30	1 Euro cent
United States	9:30 - 16:00 (CDT; UTC-5)	1 US cent
To find out your local time please check here

Complete list of traded contracts and initial margin requirements can be downloaded as MS Excel file in a zip folder. Please also check our price list in contracts and documents section for details on additional fees that may be applied to operations with your Admiral.CFD accounts.

Finance Adjustments

All finance adjustments for open positions are carried out at or after 17:00 New York time.
As you hold a position overnight (i.e. after 17:00 New York time), a finance adjustment is automatically made to your account. This is calculated as follows:

f = (v * r) / d

where
f = daily financing charge
v = notional value of underlying asset/index calculated based on closing price
r = relevant interest rate for finance adjustments, PLUS 300 basis points for long positions, MINUS 300 basis points for short positions, e.g. (4.50% + 3.00%) = 7.50%
d = number of days, i.e. we use 365 days for CFDs with denominated currency of GBP or AUD. Otherwise, we use 360 days.
(Notional value = Price * Number of CFDs/Tick Factor)

Long (buy) trade positions are debited the daily financing charge
Short (sell) positions are credited the daily financing charge

Dividend Adjustments

Current rates of dividend adjustments are as follows: