CFD FX

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*PLEASE NOTE THAT EXOTIC PAIRS ARE PRONE TO WIDER SPREADS OUTSIDE OF NORMAL MARKET CONDITIONS.

Our FX CFDs are a special form of CFD which give you exposure to underlying exchange rates BUT they are cash-settled, so they cannot result in delivery of the underlying currency.

† As low as pricing is based on minimum pricing data from the previous 4 weeks. Spreads may fluctuate during times of market volatility.

All of GFT Global Markets’ FX markets are based on the spot FX markets.

Our currency markets are traded 24 hours. Any trades not closed out by approximately 17:00 ET time will be subject to a finance adjustment (credit or debit).

Finance adjustments are made to trades held overnight (i.e. after 17:00 ET time) on rolling markets. For trades on currencies, this is calculated as follows:

f = (s x p x r) / d

where
f = daily financing charge
s = the number of CFDs you hold in the 1st currency
p = roll-over price (the GFT Global Markets mid-price at 17:00 ET time that day)
r = differential of relevant overnight LIBOR rate of 1st named currency and that of 2nd named currency
d = number of days, i.e. where the 2nd named currency is GBP or AUD we use 365 days. Otherwise we use 360 days

If the first currency has a higher interest rate, then you are credited interest for running a long position and debited interest for running a short position.
If the first currency has a lower interest rate, then you are debited interest for running a long position and credited interest for running a short position.

A quick way to work out potential profit is to think of the value of one "pip", i.e. for GBP/USD, for 100,000 CFDs each pip has a value of $10)

Interest Rates used for Overnight Finance Adjustments

Finance adjustments apply to open positions at 17:00 ET.

Currency	Rate Used
AED	EIBOR 1 week	EIBOR = Emirates Interbank Offer Rate
AUD	BBA LIBOR spot next	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
CAD	BBA LIBOR overnight	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
CHF	BBA LIBOR spot next	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
CZK	PRIBOR overnight
DKK	BBA LIBOR spot next	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
EUR	BBA LIBOR overnight	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
GBP	BBA LIBOR overnight	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
HKD	HIBOR overnight	HIBOR = Hong Kong Interbank Offered Rate
HUF	BUBOR overnight	BUBOR = Budapest Interbank Offered Rate
ILS	Tel Aviv Interbank Offered 1 Month
JPY	BBA LIBOR overnight	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
MXN	Mexican overnight T-bill rate
NOK	NIBOR one week	NIBOR = Norway Interbank Offered Rate
NZD	BBA LIBOR spot next	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
PLN	Warsaw Interbank Offer Rate overnight
RON	BUBRON	BUBRON = Bucharest Interbank Offer/Bid Rates
RUB	Russian Moscow Interbank Annual Non Compounding 1 Day
SAR	SAR Tomorrow Next Deposit	SAR = Saudi Riyal
SEK	Stockholm Interbank Offered Rate tom next
SGD	Association of Banks in Singapore SIBOR 1 month	SIBOR = Singapore Interbank Borrowing Rate
THB	Thailand BIBOR Fixings Overnight	BIBOR = Bangkok Interbank Offered Rate
TRY	TUIBON	TUIBON = Turkish Interbank Rates
USD	BBA LIBOR overnight	BBA = British Bankers’ Association	LIBOR = London Interbank Offered Rate
ZAR	Johannesburg Interbank Agreed Rate 1 month

Minimum / Maximum Trade Sizes

Maximum trading sizes vary according to underlying liquidity, market conditions and whether the underlying market is classed as being quoted by GFT Global Markets as "out of hours", i.e. outside of regular trading hours.

The market information sheets indicate the usual minimum and maximum trading sizes in GBP; currency equivalents apply for non-GBP accounts, or when trading on markets denominated in a currency other than GBP.

Restrictions may be applied to maximum trade sizes whether opening or closing.

The lot size of the corresponding underlying market is provided for your information, as a guide to minimum market trading size.

When you trade CFDs you are always trading the in "base" currency of the underlying market. E.g. if you trade a US share, you are trading in US dollars per one cent movement.

Trading Hours

Times shown are GFT Global Markets’ usual times for trading a market; these may vary e.g. on market holidays and where daylight saving applies.

Unless indicated otherwise, times shown are Eastern time.

Our normal dealing hours are from 17:00 ET Sunday to 17:00 ET on Friday.

Spreads

The spreads shown may vary according to underlying market liquidity, or in "fast markets".