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Forex trading product details

Spreads from 0.6 points on a popular range of currency pairs

Our forex spreads are variable depending on underlying market prices. In most conditions we can usually offer our minimum spread, but when market prices go wider, our spread will increase. Market prices can get wider at illiquid times of day, or when major news or economic data is released. In the tables below you will find our minimum spreads and our average spread for a given period:               

  • Minimum spread – our tightest possible spread         
  • Average spread – the average spread over a given period of time

Major

Major

For every pair we offer both a standard contract (one contract = 100,000 of the first-named currency) and a mini contract (one contract = 10,000 of the first-named currency).

Currency
Pair
[1]
Value per
pip Std /
Mini
 [2]
Minimum
Spread
Average
Spread* 
[3]
Limited Risk
Premium
[4]
Margin
Required
 [5]
AUD/USD
 
$10 / $1

 
0.6
 
0.75
 
0.8
 
0.5%
 
EUR/CHF
 
CHF10 / CHF1

 
2
 
2.30
 
n/a
 
1.5%
 
EUR/GBP
 
£10 / £1

 
0.9
 
1.17
 
2
 
1%
 
EUR/JPY
 
Y1000 / Y100

 
1.5
 
1.96
 
1.5
 
0.5%
 
EUR/USD
 
$10 / $1

 
0.6
 
0.75
 
1.2
 
0.5%
 
GBP/EUR
 
€10 / €1

 
2
 
2.60
 
1.5
 
1%
 
GBP/JPY
 
Y1000 / Y100

 
2.5
 
3.04
 
2
 
1%
 
GBP/USD
 
$10 / $1

 
0.9
 
1.34
 
2
 
1%
 
USD/CAD
 
C$10 / C$1

 
1.7
 
2.50
 
1
 
0.5%
 
USD/CHF
 
CHF10 / CHF1

 
1.5
 
2.04
 
2
 
1.5%
 
USD/JPY
 
Y1000 / Y100

 
0.7
 
0.86
 
1.5
 
0.5%
 

 

Minor

Minor

For every pair we offer both a standard contract (one contract = 100,000 of the first-named currency) and a mini contract (one contract = 10,000 of the first-named currency).

Currency
Pair
[1]
Value per
pip Std /
Mini
[2]
Minimum
Spread
Average
Spread*
[3]
Limited Risk
Premium
[4]
Margin
Required
[5]
CAD/CHF
 
CHF10 / CHF1

 
2.5
 
3.16 2
 
1.5%
 
CAD/JPY
 
Y1000 / Y100

 
2.5
 
3.61
 
1.5
 
0.5%
 
CHF/JPY
 
Y1000 / Y100

 
2
 
2.76
 
3
 
1.5%
 
EUR/CAD
 
C$10 / C$1

 
3
 
4.25 3
 
0.5%
 
EUR/SGD
 
SGD10 / SGD1

 
5
 
6.19
 
4
 
0.75%
 
EUR/ZAR
 
ZAR10 / ZAR1

 
150
 
198.98
 
100
 
2.5%
 
GBP/CAD
 
C$10 / C$1

 
3.5
 
4.74
 
4
 
1%
 
GBP/CHF
 
CHF10 / CHF1

 
3
 
3.98
 
4
 
1.5%
 
GBP/SGD
 
SGD10 / SGD1

 
8
 
10.42
 
4
 
1%
 
GBP/ZAR
 
ZAR10 / ZAR1

 
200
 
256.98
 
150
 
2.5%
 
SGD/JPY
 
Y1000 / Y100

 
4
 
5.22
 
3
 
0.75%
 
USD/SGD
 
SGD10 / SGD1

 
3 3.55
 
1
 
0.75%
 
USD/ZAR
 
ZAR10 / ZAR1

 
90
 
128.75
 
200
 
2.5%
 

 

Australasian

Australasian

For every pair we offer both a standard contract (one contract = 100,000 of the first-named currency) and a mini contract (one contract = 10,000 of the first-named currency).

Currency
Pair
[1]
Value per
pip Std /
Mini
 [2]
Minimum
Spread
Typical
Spread* 
[3]
Limited Risk
Premium
[4]
Margin
Required
 [5]
AUD/CAD
 
C$10 / C$1

 
2
 
2.78
 
2
 
0.5%
 
AUD/CHF
 
CHF10 / CHF1

 
2.5
 
2.95
 
2
 
1.5%
 
AUD/EUR
 
EUR10 / EUR1

 
1.5
 
2.83
 
1.5
 
0.5%
 
AUD/GBP
 
£10 / £1

 
1.5
 
2.94 2
 
1%
 
AUD/JPY
 
Y1000 / Y100

 
1.3
 
1.91
 
1.5
 
0.5%
 
AUD/NZD
 
NZD10 / NZD1

 
3
 
3.18
 
3
 
0.75%
 
AUD/SGD
 
SGD10 / SGD1

 
5
 
6.84
 
4
 
0.75%
 
EUR/AUD
 
AUD10 / AUD1

 
1.8
 
2.61
 
2
 
0.5%
 
EUR/NZD
 
NZD10 / NZD1

 
3
 
4.02
 
4
 
0.75%
 
GBP/AUD
 
AUD10 / AUD1

 
1.9
 
3.64
 
3
 
1%
 
GBP/NZD
 
NZD10 / NZD1

 
5
 
6.87
 
5
 
1%
 
NZD/CHF
 
CHF10 / CHF1

 
4
 
5.60
 
3
 
1.5%
 
NZD/EUR
 
EUR10 / EUR1

 
1.5
 
1.99
 
1.5
 
0.75%
 
NZD/GBP
 
£10 / £1

 
2
 
3.01
 
2
 
1%
 
NZD/JPY
 
Y1000 / Y100

 
2.5
 
3.21
 
1.5
 
0.75%
 
NZD/USD
 
$10 / $1

 
2
 
2.13
 
1
 
0.75%
 
NZD/CAD
 
C$10 / C$1

 
3.5
 
5.10
 
1
 
0.75%
 

 

Scandinavian

Scandinavian

For every pair we offer both a standard contract (one contract = 100,000 of the first-named currency) and a mini contract (one contract = 10,000 of the first-named currency).

Currency
Pair
[1]
Value per
pip
 Std /
Mini [2]
Minimum
Spread
Average
Spread* 
[3]
Limited Risk
Premium
[4]
Margin
Required
 [5]
CAD/NOK
 
NOK10 / NOK1

 
50
 
65.94
 
80
 
0.75%
 
CHF/NOK
 
NOK10 / NOK1

 
40
 
55.77
 
60
 
1.5%
 
EUR/DKK
 
DKK10 / DKK1

 
10
 
14.40
 
200
 
5%
 
EUR/NOK
 
NOK10 / NOK1

 
25
 
34.27
 
40
 
0.75%
 
EUR/SEK
 
SEK10 / SEK1

 
30
 
37.76
 
40
 
0.75%
 
GBP/DKK
 
DKK10 / DKK1

 
30
 
45.36
 
45
 
5%
 
GBP/NOK
 
NOK10 / NOK1

 
50
 
76.70
 
60
 
1%
 
GBP/SEK
 
SEK10 / SEK1

 
50
 
78.55
 
100
 
1%
 
NOK/SEK
 
SEK10 / SEK1

 
10
 
12.07
 
12
 
0.75%
 
USD/DKK
 
DKK10 / DKK1

 
15
 
19.80
 
20
 
5%
 
USD/NOK
 
NOK10 / NOK1

 
25
 
35.20
 
40
 
0.75%
 
USD/SEK
 
SEK10 / SEK1

 
25
 
32.73
 
60
 
0.75%

 

 

Exotic

Exotic

For every pair we offer both a standard contract (one contract = 100,000 of the first-named currency) and a mini contract (one contract = 10,000 of the first-named currency).

Currency
Pair
[1]
Value per
pip Std /
Mini
[2]
Minimum
Spread
Average
Spread* 
[3]
Limited Risk
Premium
[4]
Margin
Required
 [5]
CHF/HUF
 
HUF1000 / HUF100

 
30
 
39.40
 
50
 
1.5%
 
EUR/CZK
 
CZK100 / CZK10

 
25
 
28.04
 
50
 
5%
 
EUR/HUF
 
HUF1000 / HUF100

 
25
 
42.09
 
50
 
1.5%
 
EUR/ILS
 
ILS10 / ILS1

 
50
 
83.28
 
80
 
1.5%
 
EUR/MXN
 
MXN10 / MXN1

 
90
 
186.97
 
200
 
2.5%
 
EUR/PLN
 
PLN10 / PLN1

 
25
 
45.41
 
60
 
1.5%
 
EUR/TRY
 
TRY10 / TRY1

 
15
 
29.44
 
15
 
2.5%
 
GBP/CZK
 
CZK100 / CZK10

 
30
 
34.49
 
50
 
5%
 
GBP/HUF
 
HUF1000 / HUF100

 
30
 
42.33
 
50
 
1.5%
 
GBP/ILS
 
ILS10 / ILS1

 
80
 
103.49
 
150
 
1.5%
 
GBP/MXN
 
MXN10 / MXN1

 
130 211.85
 
100
 
2.5%
 
GBP/PLN
 
PLN10 / PLN1

 
30
 
50.93
 
40
 
1.5%
 
GBP/TRY
 
TRY10 / TRY1

 
20
 
37.70
 
20
 
2.5%
 
MXN/JPY JPY1000 / JPY100

 
0.6
 
0.84
 
1.5
 
2.5%
 
NOK/JPY JPY1000 / JPY100

 
1
 
1.22
 
1
 
0.75%
 
PLN/JPY
 
JPY1000 / JPY100

 
2
 
2.82
 
3
 
1.5%
 
SEK/JPY
 
JPY1000 / JPY100

 
0.9
 
1.23
 
1
 
0.75%

 
TRY/JPY
 
JPY1000 / JPY100

 
5
 
6.91 8
 
2.5%
 
USD/CZK
 
CZK100 / CZK10

 
25
 
26.29
 
50
 
5%
 
USD/HUF
 
HUF1000 / HUF100

 
25
 
41.31
 
50
 
1.5%
 
USD/ILS
 
ILS10 / ILS1

 
40
 
76.43
 
80
 
1.5%
 
USD/MXN
 
MXN10 / MXN1

 
50
 
80.50
 
60
 
2.5%
 
USD/PLN
 
PLN10 / PLN1

 
25
 
33.51
 
40
 
1.5%
 
USD/TRY
 
TRY10 / TRY1

 
12
 
23.87
 
10
 
2.5%
 


 

Emerging

Emerging

Emerging markets pairs are either quoted based on the spot market (Spot FX) or one-month non-deliverable forward prices (EMFX). For every pair we offer both a full contract and a mini contract. Spot FX contracts are priced in the pair's second named currency, but EMFX contracts are only priced in US dollars, Japanese yen or sterling.

Currency
Pair
[1]
Value per
pip Std /
Mini
[2]
Minimum
Spread
Average
Spread* 
[3]
Margin
Required
 [5]
Dealing
Hours
AUD/CNH
 
CNH10 / CNH1

 
20
 
25.17
 
2.5%
 
24 hours
 
CAD/CNH
 
CNH10 / CNH1

 
15
 
19.88
 
2.5%
 
24 hours
 
CNH/JPY
 
¥1000 / ¥100

 
0.8
 
1.74
 
2.5%
 
24 hours
 
EUR/CNH
 
CNH10 / CNH1

 
30
 
44.50
 
2.5%
 
24 hours
 
EUR/RUB
 
RUB10 / RUB1

 
2000
 
2663.78
 
5%
 
07.00-17.00
 
GBP/CNH
 
CNH10 / CNH1

 
35
 
39.12
 
2.5%
 
24 hours
 
NZD/CNH
 
CNH10 / CNH1

 
15 23.01
 
2.5%
 
24 hours
 
USD/CNH
 
CNH10 / CNH1

 
10
 
15.46
 
2.5%
 
24 hours
 
USD/RUB
 
RUB10 / RUB1

 
1600
 
2452.15
 
5%
 
07.00-17.00
 
EMFX GBP/INR
 
£10 / £1

 
35
 
37.35
 
5%
 
01.30-21.00
 
EMFX USD/BRL
 
$10 / $1

 
30
 
40.98
 
5%
 
13.05-22.00
 
EMFX USD/IDR
 
$10 / $1

 
80
 
106.64
 
5%
 
04.30-21.00
 
EMFX USD/INR
 
$10 / $1

 
20
 
21.22
 
5%
 
01.30-21.00
 
EMFX USD/KRW
 
$10 / $1

 
100
 
175.14
 
5%
 
01.00-21.00
 
EMFX USD/MYR
 
$10 / $1

 
100
 
150.23
 
5%
 
01.30-21.00
 
EMFX USD/PHP
 
$10 / $1

 
15
 
19.37
 
5%
 
01.30-21.00
 
EMFX USD/TWD
 
$10 / $1

 
80
 
147.13
 
5%
 
01.30-21.00
 

 

 
BRL - Brazilian real
CLP - Chilean peso
CNH - Chinese renminbi (yuan) – offshore
IDR - Indonesian rupiah
INR - Indian rupee
KRW - South Korean won
MYR - Malaysian ringgit
PHP - Philippine peso
RUB - Russian rouble
TWD - Taiwan dollar

Notes to tables

Our foreign exchange transactions are a special form of cash-settled CFD that provide exposure to changes in exchange rates, but cannot result in the delivery of the underlying currencies.

1. Normal dealing hours for all pairs are from 21.00 (London time) on Sunday until 22.00 (London time) on Friday, with the exception of emerging-market pairs, which operate on different schedules. All dealing times listed are London times. Please note that Daylight Savings Time in the UK or the country of origin may cause the times shown to be imprecise.

2. The minimum transaction size is one contract. Transactions above this minimum size, can be in fractions of a contract.

3. Spreads are subject to variation, especially in volatile market conditions. Our quotations are derived from quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We monitor the liquidity available in the underlying market, offering our minimum spread when the market spread is particularly small. In most other conditions, our typical spread applies. If spreads move wider in the underlying market, we may match this. We do not apply any weighting or biases to our pricing sources.

4. For limited-risk transactions a limited-risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.

5. Margin requirements represent a percentage of the overall position value. You can find the tiered margins from the Get Info dropdown section within each market in our trading platform. Please note that higher margins may be required for large positions. Please see our tiered margining page for more details.

6. When you trade in a currency other than your default currency, your profit or loss will be realised in that currency. As standard practice, we will then immediately convert this back to your default currency. You can change this at any time via the trading platform.

7. For foreign exchange transactions (excluding bitcoin), adjustments are made to calculate the cost of funding a position, and these are posted to your account daily. The adjustments are calculated as follows:

A = V x R

Where:
A = the funding cost
V = the number of contracts x contract size
R = the current tom-next rate, including an administrative charge not exceeding 0.3% (0.8% for mini contracts) per annum.

If the tom-next rate is less than zero, you will be debited for running a short position and credited for running a long position. If the tom-next rate is greater than zero, you will be credited for running a short position and debited for running a long position.

The funding charge is calculated for any position opened before 22.00 that is still open after 22.00 (London time).

Note: For any position opened before 22.00 Wednesday that is still open after 22.00 Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period. This will not always apply to emerging-market pairs. Emerging pairs are priced using one-month pricing, so the funding charge for these will depend on the three-day adjustment that is made in the underlying market.

8. On FX markets where a commission is charged we will not charge additional commission unless we notify you in writing.

9. Bitcoin funding will be 0.0438% daily for short positions and 0.0274% for long positions.

Find out more about our charges and fees

* Average spread (Monday 00:00 - Friday 22:00 GMT) for the twelve weeks ending 24 February 2017. For our minimum spreads, please see our forex spread bet, CFD and MT4 details.