Overnight financing on non FX positions will be charged on any CASH markets. This includes the major indices and all UK and US shares. The rate used at ADS Securities London is 2.5% above or below LIBOR. The calculation is:
(Price * Quantity) x (2.5 +/- LIBOR) / number of days.
To view the prevailing swap rates, right click in the Market Watch > Symbols > Select Market > Properties
The FX spot market has T+2 settlement; the Value date (when the trade is settled) is two business days from the Trade date. Interest is calculated to cover the weekend (when brokers and banks are not open). This effectively means that if you open a position on Thursday and close before the rollover on Wednesday, you only pay the financing for 5 nights.
On Standard and Spread Betting accounts, commission is only charged on equity trades since the price we provide is the underlying market spread. The rate is 8 bsp per leg for UK shares and on US shares, we charge 2 cents per share, per leg. Please note that the commission charge will go through as one transaction when you open the trade and this will cover the opening and closing fee. On ECN accounts, the charge is 70 per million round turn.
All CFDs and Spread Bets are subject to dividend adjustments. This is because when a stock pays a dividend, it will affect the price of the share and any index it is associated to. Each stock will normally pay a dividend twice a year however, since you do not own the shares, you will be adjusted for the dividend amount on the ex-date, to counteract the price movement. You will receive the dividend if you hold a long position over the ex-date, and you will pay the dividend if you have a short position. This means that you are neither advantaged nor disadvantaged by dividends when trading a derivative product.