Indices Trading | World Stock Market Indices

Our stock indices are based on the cash price of the underlying index and we charge no commission on them; all you pay is the dealing spread.

Based on the underlying market spread, our spreads may vary from those specified in the contract details below.

NOTES TO TABLES

Our stock indices are a special form of CFD that give a client exposure to changes in the value of a stock index but cannot result in the delivery of any share or instrument by or to the client.

1. Minimum transaction sizes usually start from one contract. Please refer to the 'get info' section within the trading platform to find the minimum transaction size for each market.
2. Spreads are subject to variation, especially in volatile market conditions. Wider spreads apply when stock indices are quoted outside normal market hours; these are shown in brackets in the tables above. All times given in local market time.
   24-hour dealing is available from 23.00 (London time) on Sunday and 22.15 (London time) the following Friday. Please contact us for specific information about public holidays.
   Any market spread may be added to the spread shown in the contract details, except for contracts on FTSE^® 100, Wall Street, US 500, US Tech 100, Germany 30, France 40, Italy 40, Sweden 30, Hong Kong HS42, Japan 225, EU Stocks 50 and US Russ 2000.
   Please note that Japan 225 is priced as a USD-denominated contract.
   1. Singapore Blue Chip: 'in hours' means from 08.30-17.10 and 18.15-01.54. All other times are treated as 'out of hours'. In-hours: the quoted spread includes 0.05 points either side of the market; remaining hours at a fixed 1 point spread.
   2. Hong Kong HS42 & China H-Shares: 'in hours' means 09.15-12.00 and 13.00-16.15, and 'extended hours' means 17.00-23.00. All other times are treated as 'out of hours'. We quote the Hong Kong HS42 on an out of hours price during the HKFE lunch break (12.00-13.00 Hong Kong / Singapore time).
   3. Australia 200: 'in hours' means 09.50-16.30 and 17:10-08:00. Other times we offer the market out-of-hours. Note: for the Australia 200, we cannot provide you with a guaranteed out-of-hours spread. We do not seek to profit from increased all-in spreads during out of market hours and we will not increase our dealing during this time. We will however pass on any increase in market spread experienced during out of market hours (up to a maximum of 50 points).
   4. FTSE^® 100: 'in hours' means from 08.00-16.30, 'extended hours' means 01.00-07.50 and 16.30-21.00. All other times are treated as out of hours. However, between 01.00 and 07.00 we may offer out of hours spreads instead, during periods of extreme illiquidity in the underlying markets.
   5. Germany 30: 'in hours' means from 09.00-17.30, 'extended hours' means 08.00-09.00 and 17.30-22.00. All other times are treated as out of hours.
   6. Wall Street: 'in hours' means from 09.30-16.00, 'extended hours' means 03.00-09.30. All other times are treated as out of hours.
   7. US Tech 100 and US 500: 'in hours' means from 09.30-16.15. All other times are treated as out of hours.
   8. US Russ2000 trading hours given in Chicago time.
   9. Netherlands 25: 'in hours' means 07.00-21.00 GMT. All other times are treated as out of hours.
   10. US Dollar Basket trades 20.00-18.00 (New York time).
   11. For the Japan 225 ‘in hours’ means 08.45-05.15. All other times are treated as out of hours.
   12. For the Norway 25, 'in hours' means 08.02-15.20. All other times are treated as out of hours.
   Trading times are local times except for the following special cases: For the Sweden 30 times shown are London time, and for EU Stocks 50 we show Frankfurt time.
3. For limited risk transactions, a limited risk premium is charged on the opening. Limited risk positions are closed if the bid or offer price (depending on your position) reaches the selected stop level. There may be nothing against which to measure our quotation, particularly at times when the underlying market is closed. Our quotations, especially at such times, reflect our own view of the prospects for a market. Furthermore, business done by other clients may itself affect our quotations. If a price reaches one client's limited risk stop level, so that, for example, he sells to close a position, that sale may itself push our quotation down to a level at which another client's limited risk position has to be closed.
4. Please note that tiered margining applies; this means that higher margins may be required for large positions. Please see our tiered margining page for details.
5. Settlement information for forward contracts is as follows:
   Volatility Index: VIX (Volatility) based on the final settlement value of the Volatility Index futures as reported by CBOE on the day after the last trading day. The final settlement value is determined from a SOQ of the index, which is calculated from the sequence of opening prices of the constituent SPX options.
   US Dollar Basket: Settles basis the official closing price of the Nybot Dollar Index future on the Friday preceding the third Wednesday of contract Month.
6. CFDs on stock indices are Undated Transactions that do not expire (unless requested, please see note 9). For each day that a position is held adjustments are calculated to reflect the effect of interest and dividends. A daily interest adjustment is calculated for any position that is opened before 22.00 (London time) and that is still open after 22.00 (London time). For stock index contracts denominated in Australian dollars a daily interest adjustment is calculated for any position that is opened before 16.50 (Sydney Time) and that is still open after 16.50 (Sydney Time). These adjustments are posted daily to the client's account.
   i) Interest adjustments are calculated as follows:
   D = n x L x C x i / 360
   Where:
   D = daily interest adjustment
   n = number of lots
   L = lot size
   C = underlying index price of 23.00 (London time)
   i = applicable annual interest rate
   Note: The formula uses a 365-day divisor for UK markets and a 360-day divisor for non-UK markets.
   Interest in respect of long positions is debited from a client's account and interest in respect of short positions is credited to a client's account at rates which are agreed with each client.
   ii) A dividend adjustment is applied when a component share passes its ex-dividend date in the underlying stock market. In the case of long positions, the dividend adjustment is credited to the client's account. In the case of short positions, the dividend adjustment is debited from the client's account.
7. The normal margin percentage for all stock index contracts is the percentage of the opening value of the contract listed in the tables. We reserve the right to alter the margin percentage at any time.
   The margin required for a limited risk stock index transaction is equal to the amount that would be lost if the stop were triggered, plus 10% of the amount at risk to cover interest and dividend adjustments.
8. When you trade in a currency other than your base currency, your profit or loss may be applied to your account in that currency. As a default, we will instantly, automatically convert any positive or negative foreign currency entry into your base currency. You can change this setting at any time by calling us, or by using our platform.
9. Clients may request that an open stock index position will expire on the day that the request is made.
   We are unlikely to agree to such a request if either:
   a) the size of the position or positions is larger than 10 contracts;
   b) the request is made less than 2 hours before the close of the related expiry market (see related markets tab above).
   On our agreement to an expiry request, the transaction or transactions in question will become an expiry transaction, and will automatically expire at the official closing price of the related expiry market.