CFDs

CFDs – Contracts for Difference

Trade in CFDs on shares and indices with extremely favourable conditions at Agora direct. CFDs are some of the leverage products and are a flexible alternative to trading in shares.

You can bet on rising and falling share prices with CFDs. You do not trade in the basic value, but exclusively in the change in its price and value – as a result, only one part of the actual value of the share has to be used.

In order to be able to trade in CFDs, you must have a margin to sell and also to maintain the item in your account. This percentage proportion of the actual trading amount is frozen and only released again after the sale.

You have access to trade in two kinds of CFDs: index CFDs and share CFDs.

Price table for index CFDs

CFDs on indices - stock exchange	Trading Currency	Trade commission including fees	Minimum
DowJones Industrial 30	USD	0,01%	1,50 USD
S&P 500	USD	0,01%	2,50 USD
NASDAQ 100	USD	0,02%	2,00 USD
DAX 30	Euro	0,01%	1,50 EUR
MDAX50	Euro	0,02%	2,00 EUR
TecDAX30	Euro	0,02%	2,00 EUR
DJ Eurostoxx 50	Euro	0,02%	2,50 EUR
FTSE 100 UK	GBP	0,01%	1,35 GBP
FTSE Mid-Cap 250 UK	GBP	0,02%	2,00 GBP
SMI 20 Switzerland	CHF	0,02%	2,00 CHF
CAC 40 France	Euro	0,02%	2,00 EUR
OBX 25 Norway	NOK	0,02%	10, 00 NOK
OMX 30 Sweden	SEK	0,02%	10,00 SEK
OMX 20 / 25 Denmark	DKK	0,02%	10,00 DKK
IBEX 35 Spain	Euro	0,02%	2,00 EUR
FTSE MIB 40 Italy	Euro	0,02%	2,00 EUR
AMS FTA Netherlands	Euro	0,02%	2,00 EUR
BEL20 Belgium	Euro	0,02%	2,00 EUR
PSI 20 Portugal	Euro	0,02%	2,00 EUR
Nikkei 225	YEN	0,02%	50,00 JPY
Hang Seng Stock Index	HKD	0,02%	14,00 HKD
ASX 200 Index	AUD	0,02%	2,50 AUD

Price table for share CFDs

CFD's on shares - stock exchange	Trading Currency	Trade commission including fees	Minimum
Europe	EUR	0,08%	4,75 EUR
USA	USD	the first 1,000 CFDs only ever $ 0.019 per CFD	3,00 USD
USA	USD	From the 1,001th CFD only $ 0.01 per CFD	0,00 USD
Great Britain	GBP	0,09%	3,90 GBP
Switzerland	CHF	0,09%	3,90 CHF
Poland	PLN	0,09%	19,00 PLN
Finland	EUR	0,09%	5,75 EUR
Sweden	SEK	015%	49,00 SEK
Denmark	DKK	0,09%	49,00 DKK
Norway	NOK	0,09%	49,00 NOK
Czech Republic	CZK	0,23%	100,00 CZK
Hungary	HUF	0,23%	1200 HUF
South Africa	ZAR	0,24%	100,00 ZAR
Canada	CAD	0,02 per CFD	6,00 CAD
Brazil	BRL	0,24%	30,00 BRL
Australia	AUD	0,06%	5,50 AUD
Japan	JPY	0,09%	550,00 JPY
Hong Kong (including stamp duty and SFC transaction tax)	HKD	0,22%	60,00 HKD
Singapore	SGD	0,15%	5,00 SGD

Price table for CFDs on currencies

Code	Trading Currency	Trade commission including fees	Minimum
AUD	Australian Dollar	0,04 %	6,90 AUD
BRL	Brasilianischer Real	0,04 %	30,00 BRL
CAD	Canadian Dollar	0,04 %	6,00 CAD
CHF	Swiss Franc	0,04 %	2,50 CHF
CNH	Chinese Renminbi Yuan	0,04 %	17,00 CHN
CZK	Czech Crown	0,04 %	55,00 CZK
DKK	Danish Crown	0,04 %	15,50 DKK
EUR	Euro	0,04 %	2,00 EUR
GBP	Poand Sterling	0,04 %	1,85 GBP
HKD	Hong Kong Dollar	0,04 %	22,00 HKD
HUF	Forint	0,04 %	650,00 HUF
ILS	New Shekel	0,04 %	8,75 ILS
JPY	YEN	0,004 %	275,00 JPY
MXN	Mexican Peso	0,004 %	46,50 MXN
NOK	Norwegian Crown	0,004 %	20,00 NOK
NZD	New Zealand Dollar	0,004 %	15,00 NZD
PLN	Zloty	0,004 %	9,00 PLN
RUB	Russian Ruble	0,004 %	160,00 RUB
SEK	Swedish Crown	0,004 %	22,00 SEK
SGD	Singapore Dollars	0,004 %	3,30 SGD
USD	U.S. Dollar	0,04 %	2,50 USD
ZAR	Rand	0,04 %	30,00 ZAR

Heavy traders – volume discounts for private and institutional traders

We draw up individually agreed commission rates for regular traders, premium traders or heavy traders and for commercial traders and asset managers. Please get in touch with us contact

You will find all the current tradable CFDs in our product search for CFDs.

CFDs

CFDs are a product, where you do business on the difference between the current and future market price of a share or an index, and this can be traded outside stock exchanges too.

General facts on CFD

Trading with CFDs offers you many economic benefits which you would obtain by owning or short selling the shares or indices that underlie them. A share CFD tries to map the advantages of a share, including market movements, dividend income and capital measures. Exceptions to these are cases where source tax rules for foreign investors have an effect on dividend payments or if an agreement is pending for an offer as part of a capital measure. Depending on the legal system, share CFDs offer the advantage, among others, that they are not subject to stamp tax. There may also be other tax advantages. Please consult your tax adviser on this
Share CFDs also offer all the advantages of trading with derivatives, including leverage and the opportunity of being able to enter into long or short positions. At the same time many of the disadvantages of traditional derivatives do not apply to share CFDs. In particular share CFDs do not expire and you do not need to consider any extensions and the resulting fall in the market price
The funding for a CFD transaction works in a similar way to a share transaction, where you pay interest on the net loan amount. In the case of a CFD, you pay interest on the value of the basic value and, in the most positive case with the relevant interest levels and trading volume, you can even obtain interest on your margin (security) balance amount

Index CFDs

You can obtain a broader foothold in the market with index CFDs than with other financial instruments

Flexible involvement in global markets
Low commission rates and financing conditions
Extremely transparent market quotations
Margin efficiency

Index CFDs also offer the following significant benefits:

Flexible involvement on global markets: Index CFDs can be traded in very small volumes of 1 times the index level, which enables the management of individual trading, even with fairly small accounts, and allows a variety of combinations, but does not require them. This is not the only difference with related futures that is an advantage, but index CFDs do not expire either. You therefore avoid costs and risks, which occur through the similar futures trading products, which are tied to specific dates
Low commission rates and financing conditions: depending on the index, the commission rates are just 0.01% - 0.02%. The transparent and plausible overnight financing costs amount to just the current base rate plus max. 2.00% p.a. with precise invoicing. This is always a genuine touchstone for all rivals, continuously and permanently
Extremely transparent market quotations: In contrast to various other index CFD providers, the commission rates here are transparent and easy to recognise. Furthermore, in contrast to other brokers, the spread (the difference between the bid and the selling price) of the associated basis futures is not artificially spread to the economic disadvantage of the customer. The index CFD listings represent the spread and the market price movements of the related futures correctly, these are not re-quotes. You therefore trade precisely in what you see. Customers are assured, that all the index CFD transactions are secured by hedges and no dealing desk is being operated. In extreme market conditions, trading processes cannot be guaranteed either
Margin efficiency: The low margin rates apply to the traded index CFDs, just as for related futures and adapted according to the volume of the contract

Share CFDs

There are also possible tax advantages associated with trading in CFDs; trading in CFDs offers the following benefits:

Transparent, low-cost commission rates and financing conditions
Trading in CFDs and the underlying shares possible at the same time
Margin efficiency
Efficient CFD reference price system
Transparent, low-cost commission rates and financing conditions: The commission rate is just 0.09% for share CFDs, although active traders may request individually discounted commission rates. The transparent and plausible overnight financing costs amount to just the current base rate plus max. 1.5% p.a. with precise invoicing. This is continuously an incentive for all CFD brokers at any time
Trading in CFDs and the underlying shares at the same time: Your universal stock exchange trading account enables you to display and trade in several product classes (asset classes) on one display at the same time. Have the CFD data on one line and the data of the underlying share on the next line. The trading platform which you have installed, supports shares, options, futures, currencies, CFDs, metals, raw materials, bonds and funds in a common account overview and one trading window
Margin efficiency: The margin requirements for CFDs are normally cheaper than the margin requirements for direct shares – however, never less favourable than the latter
Efficient CFD reference price system: The prices for CFDs reflect the market price listed at the stock exchange for the underlying share. This is only possible because a highly efficient smart routing technology is used to determine the CFD reference prices. With other providers, there may be a risk that you do not obtain the best possible price. Customers have the opportunity of adding market price listings directly in their stock exchange book in the same way as they would do when trading with shares. This opportunity exists because a hedge order is generated for each CFD order. As a result, a non-marketable CFD order is created at the stock exchange at the same time as an associated non-marketable order for the underlying share

CFDs on currencies

High transparency and fair prices are the decisive basis for a long-term customer relationship. Therefore, trading in CFDs on currencies is invoiced by using a very transparent fee structure. It is expressly waived, that additional intransparent price surcharges are added to the original price quotations and thus the impression being created that (allegedly) no provisions will be charged, as it is usual for many other Forex providers to the detriment of the customer.

The actual very narrow spreads of the interbank market are available to you as a client, because price quotation streams are fed by 14 of the world's leading forex traders with a total market share of over 78%¹. As a result, quotes are displayed with an accuracy of sometimes only 0.1 PIP. Your private account will display these rates as they are received by forex traders without an artificially offset and added spread.

¹Source: Euromoney FX Survey FX Poll 2016: The Euromoney FX Survey is the largest global survey of foreign exchange service providers.

If you have any questions or require some explanation, please contact us on stock exchange trading days on the following number +49 (030) 789 59 75 - 0 or make use of our contact form.

Information for trading with CFDs on indices:

A claim for trading fees exists with each order and for all types of orders
The trading fees shown are final prices – they include all the stock exchange and other outside expenses, if they are not listed separately
The value-added-tax (VAT), in many cases also called the consumer tax or the tax on goods or services, is calculated separately for the services concerned

Example: Assuming that the DJ Eurostoxx 50 (IBEU50) stands at 3,500 points

The minimum order is EUR 1.00 x 3,050 points = EUR 10120.50; a sum amounting to EUR 1,091.00 as security (margin) must be available for this.

Information for trading with CFDs on shares:

A claim for trading fees exists with each order and for all types of orders
The trading fees shown are final prices – they include all the stock exchange and other outside expenses, if they are not listed separately
The value-added-tax (VAT), in many cases also called the consumer tax or the tax on goods or services, is calculated separately for the services concerned
Any changed orders as the cancellation and replacement of an existing order by the new order. At certain stock exchanges, this may create a situation where the current minimum commission due for changed orders is handled in the same way as for new orders. If, for example, you place an order for 200 shares, of which 100 shares are traded and you then change the order, in response to which the remaining 100 shares are traded, the minimum fee will be due for both trading actions. Any orders, which remain overnight, are viewed as new orders for the purposes of calculating the minimum order on the following day

Warnings on the risks

Trading with CFDs is not suitable for all investors. As CFDs are leveraged products, customers may suffer considerable losses, which may exceed the original amount invested in certain circumstances
Your CFD agreement is concluded with Interactive Brokers (U.K.) Limited. Interactive Brokers (U.K.) Limited has been certified by the Financial Services Authority (“FSA”) and is regulated by it. Registration number: 208159

Other important information

Trading in CFDs is offered to customers with their main place of residence outside the USA and Canada, with the exception of the customers with their place of residence in Australia and Hong Kong
Customers, who meet the necessary conditions, must apply for trading authorisation for CFDs through the account management department and ensure that they have subscribed to the market data for the stock exchange where the underlying share is listed, which they would like to trade as a CFD
A market data subscription is required for index CFDs for trading in index CFDs. This subscription is available free of charge

Example of calculations for an index CFD:

Example of calculations in EUR:

You purchase 6 CFDs on the “DJ Eurostoxx 50” at a market price of 3,050 points
= 6 CFDs x 3,050 (price of CFD) = EUR 18,300.00
18,300.00 x 0.02% (commission) =
just EUR 3.66 in fees, including everything

Example of calculation in USD:

You purchase 3 CFDs on the Dow Jones Industrial 30 at a market price of 17,150 points
= 3 CFDs x 17,150 (price of CFD) = USD 51,450.00
= 17,150.00 x 0.01% (commission) =
just USD 5.15 in fees, including everything

Example of calculations for a share CFD:

Example of calculations in EUR:

You purchase 100 CFDs for SAP at a market price of EUR 55.00
= 100 CFDs x EUR 55.00 (price of CFD) = EUR 5,500.00
= 5,500.00 x 0.09% (commission) =
just EUR 4.95 in fees, including everything

Example of calculations in USD:

You purchase 300 CFDs for Boeing at a market price of USD 125.00
= 300 CFDs x 125.00 (price of CFD) = USD 37,500.00
= 300 x USD 0.09 (per CFD) =
just USD 2.55 in fees, including everything

Example of calculations: net financing costs for a share CFD

In the following example, a particular share (underlying) is listed at EUR 10.00 and as the CFD reference price genuinely reflects the market price of this share, the list price of the share CFD also amounts to EUR 10.00.

You purchase 300 CFDs each for EUR 10.00, i.e. EUR 3,000.00 in total. You keep this item for a period of 30 days.

Assumption:
Market price of the underlying share: EUR 10.00
CFD market price: EUR 10.00
Action: purchase
Quantity: 300
Duration: 30 days
Trading value: EUR 3,000.00
Margin (10% of EUR 3,000.00): EUR 300.00

Interest on the debit balance of EUR 3,000.00 for 30 days:
EUR 3,000.00 at 2.58% p.a. = EUR 77.40 divided by 360 days = a daily interest rate of just EUR 0.21

Net financing costs for 30 days: just EUR 6.36

Example of calculations: costs for CFDs on currencies

Example: $50,000 USD.EUR CFD contracts = only $2.00, all inclusive
(50,000, - multiplied by 0,00004 = 2,00)

Do you need some information on the transaction fee for a particular product? Then send us an e-mail using our contact form.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.