CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

73.5% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Pricing

Our pricing

Market volatility and market liquidity are two primary factors that affect spreads. Trade execution is fully automated and is built around our principles of fairness and transparency.

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Our spreads

Our spreads are competitive, starting from just 0.9 points on the DE 30, 0.8 points on the UK 100 and 1 pip on USD/JPY and EUR/USD. We offer Brent Crude Oil from 3 points and XAU/USD from 25 cents.

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Our execution

Fast execution ensures you are getting the best available price when you trade with us. Our award-winning* trading platform is engineered for reliability and speed. Our trades are executed in 0.012 seconds^.

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How our pricing is derived

Our pricing is derived from liquidity providers (forex and metals), futures contracts (commodities, bonds and copper) and futures prices in relation to the index (indices). When the markets are moving, your orders are filled at our best available price.

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Forex and metals CFDs

Our pricing for forex and metals CFDs is derived from our liquidity providers - major financial institutions who provide us with available spot pricing for FX pairs and metals. These prices are analysed by our automated pricing system to generate our midpoint price for each FX pair and metal CFD. Different groups of liquidity providers are used to derive pricing for different products/instruments.

For unusual FX pairs, we may derive the price from two major/minor currency pairs. For example, the price for the Singapore Dollar/South African Rand FX pair may be derived from the USD/SGD and USD/SAR FX pair prices.

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Indices CFDs

Our pricing for our indices CFDs is not based on the current index level. We derive prices for our indices CFDs from futures prices in relation to the index. By way of example, the standard FTSE 100 Index futures contract has monthly durations and the price level is the anticipated level of the index at the expiry date.

Our pricing system receives index futures pricing feeds from relevant futures exchanges. We review the "top of book" prices (the best actionable prices) (the highest buy and lowest sell) from those feeds and calculate our midpoint price. We use an automated adjustment schedule for each index, which adjusts the price of the relevant index futures at the date of the transaction based on changes set out in that schedule.

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Commodities, copper and bonds CFDs

Prices for our commodities and bonds CFDs are derived from futures contracts in relation to the commodity or bond. The price shown for trades (positions) in commodity CFDs is not a direct reflection of the futures price for that commodity. Instead it is based on the futures market price for that commodity plus a discount or premium.

Our automated pricing system receives futures pricing feeds from relevant futures exchanges.

Prices for our copper CFDs are derived in the same way as our commodities and bonds instruments.

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Frequently asked questions

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What are financing costs?

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What is a corporate action?

Constituent stocks of an index will periodically pay dividends to shareholders. When they do, this impacts the overall price of the index, causing it to drop by a certain amount. We may make dividend adjustments if a dividend is scheduled to be paid to the holders of the underlying instrument. These adjustments are normally made on the ex-dividend date.

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How would dividend adjustments work on open positions of index CFDs?

When there’s a dividend payment, this is normally reflected in the index CFD price. If you have an open position at the time of a dividend adjustment, we’ll ensure that there is no material impact on you by either crediting or debiting your account with the same amount that your unrealised profit and loss has been impacted.

For example:

For long positions:

Let’s assume UK100 (FTSE) is trading at 7,167.95 GBP. If you are long 20 units of UK 100 and a stock in the index pays out a dividend that equates to 5 index points.

The index value would drop to 7162.95 GBP.

The dividend adjustment would be

= index dividend points X no. of units of the index CFD held
= 5 X 20 = 100 GBP

This will be credited to your account post home currency conversion.

For short positions:

Let’s assume US SPX 500 (S&P500) is trading at 2,989.69 USD. If you are short 10 units and a stock in the index pays out a dividend that equates to of 0.890 index points.

The dividend adjustment would be

= Index dividend points X no. of units of the index CFD held
= 0.890 X 10 = 8.90 USD

This will be debited from your account post home currency conversion.

You will be able to see OANDA's dividend adjustments on your Transaction History and Statements.

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Can’t find what you’re looking for?

*Awarded highest overall client satisfaction two years in a row (Investment Trends US FX Report 2017 and 2018).

^Execution speed and numbers are based on the median round trip latency from receipt to response for all Market Order and Trade Close requests executed between January 1 and May 1, 2019 on the OANDA execution platform.

Trade forex CFDs

Take a position on over 70 forex CFD pairs using our OANDA Trade platform and MT4.

What are financing costs?

Financing costs can affect your cost of trading, so it's important to understand how financing works.

Our spreads and margins

For retail clients, our margin rates start from just 3.3% on EUR/USD and 5% on AUD/USD.