All our stock index contracts are commission-free: the only charge is our highly competitive dealing spread.
Our range of stock index contracts are listed in the Contract Details. You can trade in full or mini contract sizes, and even in fractions of a contract. You can also trade Wall Street Cash either as a cash contract (with a 4-point spread) or a futures contract (with a 6-point spread).
Opening the position
In early September our quote for Wall Street Cash is 9263/9267. You think the blue-chips are going to start their recovery and decide to buy one contract at 9267. (One standard contract is the equivalent of US$10 per index point.) There is no commission to pay.
To open your position you supply a deposit of US$1000*. You will then make or lose US$10 for every point the sell price rises above or falls below 9267.
Closing the position
The market begins to rise and a week later our quote has risen to 9559/9563, and you close your position by selling one contract at 9559.
Your gross profit on the trade is calculated as follows:
Profit on trade
| Opening level | 9267 |
| Closing level | 9559 |
| Difference | 292 |
Gross profit: 292 points x 1 contract x US$10 per point = US$2,920
To calculate the net result you also have to include interest and dividend adjustments. Interest adjustments are applied daily to stock index trades in exactly the same way as to Share CFDs. Dividend adjustments are applied whenever a stock in the relevant index goes ex-dividend. For more information see Contract Details.
* For Trader Accounts