Do not invest more money than you can afford to lose.
IFC Markets, an offshore forex and contracts for difference (CFDs) broker, said on Wednesday it intends to make slight alterations to the trading conditions of stock CFDs, including in regards to commission calculation. Traders will be charged a commission fee for both opening and closing a position, but combined the amount will be less than what they currently pay.
The changes will come into effect as of 22 February, 2016. The minimum commission charged will be $0.01 per deal. For CFDs on US stocks the commission will be equal to 2% per a single stock, rather than a percentage of the total deal volume as it is for the rest of the offered stock CFDs.
In addition, a small swap has been changed to be calculated for rolling stock CFD positions overnight.
Positions that have been opened prior to the date when the changes come into effect will be closed under the new conditions.
IFC Markets is the trading brand of IFCMarkets Corp, which is part of financial technologies holding company IFCM Group. The group also includes online forex broker Infin Markets, which is licensed by the Cyprus Securities and Exchange Commission (CySEC), and financial software developer NetTradeX Corp.
IFC Markets is based in the British Virgin Islands and is licensed by the local financial regulator, the Financial Services Commission (FSC).
The broker offers trading in more than 500 instruments – forex, CFDs on stocks, commodities and indices, as well as gold and precious metals. It provides the MetaTrader 4 (MT4) trading platform, an industry leader, and the NetTradeX platform, which is a product of the IFCMarkets Group.
The CFDs it offers on stocks are for companies that trade on the following stock exchanges:
- NYSE
- ASX
- LSE
- LSE (IOB)
- TSE
- HKEx
- Xetra
Source: IFC Markets
