Ketank
As far as I know there is no toll over cost on their rolling daily bets.
They close the position at the spread mid-point to realise the P/L for that day and then re-open at the mid-point for the next days trading. The total cost of the spread is only when you decide to close the position.
HTH.
G-Man
As far as I know there is no toll over cost on their rolling daily bets.
They close the position at the spread mid-point to realise the P/L for that day and then re-open at the mid-point for the next days trading. The total cost of the spread is only when you decide to close the position.
HTH.
G-Man
G-Man said:
No, there is a charge for rolling over if you are long, but it is added to your account if you are short. I haven't got Finspread open now so can't tell you how it is worked out but it isn't a lot, although probably it would mount up over a long time. Its to do with bank lending I can't be bothered to work out whether it is cheaper to use rolling bets or a future and so use rolling bets, myself. It won't stop you from making money if you are right!
Split
This is correct (both answers)
There is no charge as far as the spread is concerned on a rolling bet, it technically closes at one price (mid price) at the end of the day, then opens at exactly the same price the next day.
There is a small financing charge (think of it as interest on the loan ie you are 10:1 geared) if you are long. Then there is a smaller fee paid into your account if you are short.
Long Trades:
How I calculate what to do is to determine how long you thing the trade will last. If it is only 2-3 days then I take the rolling bet. If you take the longer term 'contract', then you don't have interest to pay, but you do have a bigger spread.
Short Trades:
I alway use the rolling bet for shorts. That way I get the tighter spread AND a small interest paid into my account - you can't be bad to that 🙂
There is no charge as far as the spread is concerned on a rolling bet, it technically closes at one price (mid price) at the end of the day, then opens at exactly the same price the next day.
There is a small financing charge (think of it as interest on the loan ie you are 10:1 geared) if you are long. Then there is a smaller fee paid into your account if you are short.
Long Trades:
How I calculate what to do is to determine how long you thing the trade will last. If it is only 2-3 days then I take the rolling bet. If you take the longer term 'contract', then you don't have interest to pay, but you do have a bigger spread.
Short Trades:
I alway use the rolling bet for shorts. That way I get the tighter spread AND a small interest paid into my account - you can't be bad to that 🙂
the blades
Experienced member
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I'm fairly sure the carriage charge is BOE rates + 3% if long, BOE -3% if short.
Capital offer better rates of +/2% on (currently) 4.75%.
Cheers,
UTB
Capital offer better rates of +/2% on (currently) 4.75%.
Cheers,
UTB
Finspreads are +2.5 long interest, -2.25 short interest for UK shares. Minimum credit to the account for being short is 0.01pence, minimum paid for being long is 0.25 pence . For US, figures are +2% and - 1.5% respectively and European shares are +2 and -2. Hope this helps.
mckitsilano
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As of today they are using a value of 4.87% LIBOR plus 1.5 % i.e 6.37% for long rolling bets. They pay you if you are short .but I don't know the value of that because i hardly ever go short. The minimum charge is 25p for each open position and the break even point i.e where you would incur higher charges than the minimum is approximately £2.50 .
FTSE in mouth
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Evansj
If it's not on the list of shares that they have on the site and the market cap is over £50m give them a ring and get them to open a book for you. But don't ask for GRG as they didn't when we asked. Had to go elsewhere.
Pete
If it's not on the list of shares that they have on the site and the market cap is over £50m give them a ring and get them to open a book for you. But don't ask for GRG as they didn't when we asked. Had to go elsewhere.
Pete
