Forex Trading FAQs | Support

Web-Based Platform (NGEN)

Our Next Generation trading platform combines institutional-grade features and security, with lightning-fast execution and best-in-class insight and analysis.

Trade contracts for difference (CFDs) on over 12,000+ products including FX pairs, indices, commodities, shares, cryptocurrencies and treasuries.

Forex

What do CMC Markets charge on converting foreign currency profit or loss into my home currency?

If you are trading foreign exchanges products on our CFD platform there is a charge of 50 basis points (0.5%) to convert foreign currencies into your home currency.

How are holding costs on forex, Gold, Silver and the Precious Metals Index calculated?

The overnight holding rate used when calculating the applicable holding costs on FX comes from the tom-next rate, which is the difference between the two currencies’ interest rates, with an additional 0.0027% CMC Markets charge added. Learn more about CFD holding costs.

Please note, you'll be charged holding costs for three days on either a Wednesday or a Thursday, depending on the currency pair, as shown in the table below.

	USD/CAD, USD/TRY, TRY/CAD, CAD/TRY	All other FX pairs, FX indices, Gold, Silver, Precious Metals Index
Monday 5pm EST	x1 Holding Cost rate	x1 Holding Cost rate
Tuesday 5pm EST	x1 Holding Cost rate	x1 Holding Cost rate
Wednesday 5pm EST	x1 Holding Cost rate	x3 Holding Cost rate
Thursday 5pm EST	x3 Holding Cost rate	x1 Holding Cost rate
Friday 5pm EST	x1 Holding Cost rate	x1 Holding Cost rate

Where do you derive your FX prices from?

Prices streamed from our liquidity providers (June 2017 – Deutsche Bank, JP Morgan, Barclays, Goldman, UBS, Citibank and HSBC) are consumed by our automated pricing engine where the ‘best’ and most representative price is used to create our quotes on which clients trade. You can click here for more information.

How do I calculate margin requirement?

In order to open a position you will be required to deposit an amount of money known as margin. The margin required reflects a percentage of the full value of the position. The first step is to establish the margin rate for the instrument you are trading. Margin rates can be found within the trading platform by selecting 'Library' from the main menu (which displays the full list of products), then select the arrow icon next to the specific product which will show a sub-menu. Choose 'Product Overview' from the sub-menu to view the margin rate details. The margin rates are tiered depending on the size of your position. To see the tiered rates, select the arrow icon to the right of the margin rate section.

To calculate your margin requirement, take your margin rate and multiply this by the total value of the trade. Your estimated margin is also conveniently displayed within the order ticket. Note, margin is independent of the direction of your position and will increase or decrease in line with the level one mid-price point of the product. If the price increases, your margin requirement will be higher; if the price decreases, your margin requirement will become lower.

Learn more about how we calculate our CFD trading margins

Can I convert currencies using a CMC Markets account?

No, we do not offer currency exchange facilities.

Is one unit the same as $1 per point when trading foreign exchange?

One unit is essentially one of the first name currency. If you require assistance with calculating your desired trade size, please contact our Client Management team.