Trade with clear pricing and charges

Our pricing is transparent, so you’ll be aware of the charges you incur when you trade with us.

View a full list of pricing and charges at City Index across all the markets we offer

  • Trade with fixed and variable spreads
  • Benefit from retail client margins starting from just 3.33%
  • Benchmark AU financing is Reuters Deposit Rate +/- 2.5%
Spreads and margins

Indices – (CFD)

Market name Min. spread (fixed) Margin from*
UK 100 1 point 5%
Wall Street 1.6 points 5%
Germany 40 1 point 5%
Australia 200 1.2 points 5%
France 40 1.3 points 5%

Shares – (CFD)

Market name CFD spread CFD commission / minimum Margin from*
Commonwealth Bank of Australia Market 0.09% /$5 AUD 20%
Rio Tinto Market 0.01% / £10 20%
Deutsche Bank Market 0.01% / £10 20%
Apple Inc Market 2CPS / $15 20%
Amazon Market 2CPS / $15 20%

Forex – (CFD)

Market name Minimum spread Typical spread Margin from*
EUR/USD 0.5 0.8 3.33%
AUD/USD 0.5 0.9 3.33%
USD/JPY 0.6 0.8 3.33%
GBP/USD 0.9 1.8 3.33%
EUR/GBP 0.9 1.7 3.33%

Bitcoin – (CFD)

Market name Minimum spread† Margin rates Overnight finance long Overnight finance short
Bitcoin ($) From 35 From 50% 0.0411% (pay) 0.0136% (receive)
Bitcoin (£) From 45 From 50% 0.0411% (pay) 0.0136% (receive)
Bitcoin (AUD) From 55 From 50% 0.0411% (pay) 0.0136% (receive)
Bitcoin (€) From 55 From 50% 0.0411% (pay) 0.0136% (receive)

† May change due to market conditions.
‡ trading hours on cryptocurrencies are 08:00 Mon - 08:00 Sat (AEST) 

Other cryptocurrencies – (CFD)

Market name Minimum spread† Margin rates Overnight finance long Overnight finance short
Ethereum From 1.2 From 50% 0.0411% (pay) 0.0136% (receive)
Litecoin From 0.5 From 50% 0.0411% (pay) ---
Ripple From 0.6 From 50% 0.0411% (pay) ---
BitcoinCash From 2 From 50% 0.0411% (pay) ---

† May change due to market conditions.
‡ trading hours on cryptocurrencies are 08:00 Mon - 08:00 Sat (AEST) 

Commodities – (CFD)

Market name Spread Spread pricing Margin from*
US Crude Oil 0.4 points (around market) Around market spread 10%
UK Crude Oil 5 points Fixed 10%
Coffee 0.9 points Fixed 10%
Sugar 0.06 points Fixed 10%
Natural Gas 18 points Around market spread 10%

Metals – (CFD)

Market name Min. spread (fixed) Margin from*
Gold 0.3 points 5%
Silver 2.0 points 10%
Copper 40 points 10%
Platinum 0.83 points 10%

Bonds – (CFD)

Market name Min. spread (fixed) Margin from*
UK Long Gilt 0.03 points 20%
Euro Bund 0.03 points 20%
US T-Bond 0.02 points 20%
US T-Note 0.02 points 20%

Interest rates – (CFD)

Market name Min. spread (fixed) Margin from*
Short Sterling 3mnth 20 points 20%
Eurodollar 0.02 points 20%
Euribor 3mnt 0.02 points 20%

*for Retail clients. Professional Trader rates here

Fixed and variable spreads 

Fixed spreads don't change according to market conditions such as volatility or liquidity. Fixed spreads may either be offered for a defined period of the day, or throughout trading hours.

Variable spreads may fluctuate throughout the day according to different factors such as underlying liquidity or market volatility. With variable spreads, City Index will quote you the minimum spread it could be, plus an average spread for a defined historical period of time.

Visit our Help and Support section for more information.

Margin (Step margin)

Margin is the amount of money available in your trading account to open a position. You can find out more about margin and leverage as well as the benefits of trading on margin in our Education section.

The larger the trade size, the higher the risk level associated with the trade. Therefore, we may increase our margin requirements for larger size trades or any additional trades in that instrument. Below is an example of how this may work:

CFD stake size Margin
0-1,000 5%
1,000-10,000 10%
10,000-50,000 15%
50,000+ 20%
Order-aware margins (professional clients only)

For Professional account holders, some markets on the Web Trader platform benefit from orders-aware margining, which means that placing a stop loss order on an open position will reduce the margin required to maintain that position. Information on whether a market includes orders aware margining can be found within the market information sheet.

Commission

We charge zero commission when you trade commodities, indices, forex and cryptocurrency CFDs at City Index.

See the table below for details of the commission we charge on shares CFD trading.

Market name CFD spread CFD commission Minimum
UK shares Market 0.01% £10
European shares Market 0.01% €10
Australian shares Market 0.09% $5 AUD
Singapore shares Market 0.08% $10 SGD
US shares Market 2CPS $10 USD
Financing charges

Financing is a fee that you pay in order to hold a position open overnight (excluding futures contracts). The daily financing fee will be applied to your account each day that you hold an position (including weekends)

There is no financing charged on futures contracts. Our financing rates are set at the benchmark regional interest rate of +/- 2.5%. The financing rates we charge by territory are:

Country Financing on long positions Financing on short positions
UK 2.5% + SONIA 2.5% - SONIA
US 2.5% + SOFR 2.5% - SOFR
EU 2.5% + €STR 2.5% - €STR
Australia 2.5% + Deposit 2.5% - Deposit
Other international Contact Client Management Contact Client Management
FX overnight financing

Should you hold a position overnight, there will be an overnight financing adjustment. We use swap points to calculate the daily overnight financing adjustment amount for FX pairs.

Please review the market information sheets in the Web Trader platforms for details on further financing charges on FX.

Bitcoin overnight financing charge

Each night you will pay a small financing charge on the exposure of the Bitcoin trade. Please see the Bitcoin FAQ for an example of how changes are calculated.

Funding and withdrawal costs

Transactions involving debit or credit card deposits and transfers will not incur any charges from City Index.

Overseas wire transfers may apply but this will be subject to your own bank's fee schedule.

Start trading with City Index today

Back to base currency conversion charge

We will apply commercially reasonable rates for Back to Base (Currency Conversions). Conversions and the rates applied will be disclosed on your contract notes and statements.

Guaranteed Stop Loss Orders

There is a charge for placing Guaranteed Stop Loss Orders. GSLOs are not available on all markets. Information on charges and available markets can be found within the market information sheets on your platform. The exact cost associated with a GSLO will be displayed in platform before you place a trade.

As a guide:

  • Australia 200 CFD: 1x quantity of CFDs charged in base currency of the trade
  • Commonwealth Bank of Australia share CFD = 0.5% of notional value
  • Gold (per 0.1) CFD: 3x quantity of CFDs charged in base currency of the trade

For an in-depth overview of our Guaranteed Stop loss Order offering, please visit our FAQ section. 

Futures rollover discount

Receive a 50% spread discount if you automatically roll a futures contract at expiry. Rollover requests can be requested by telephone, or can be selected in WebTrader on the Positions tab. For more information on Future Rollover discounts, visit our CFD Trading page.

Dividend adjustments

CFDs are subject to corporate actions including dividend adjustments. 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. Long positions receive adjustments net of tax, whereas short positions are charged the declared amount of gross tax, where applicable.

For more information on US withholding tax on US equity derivative markets, please visit our page on US code section 871(m).

Borrowing cost for shorting CFDs

Borrowing costs are incurred when you short a share CFD position, and reflect a charge incurred in the underlying market when the underlying asset is borrowed in order to sell and return at a later date. Very few markets will incur a borrowing charge, and to determine whether the market you wish to trade has borrowing costs or not, please check the relevant market information sheet.

Inactivity fees

Where no activity has occurred on your account(s) for a period of 24 months or more, your account(s) will be deemed inactive. 'Activity' is defined as placing a trade and/or maintaining an open position during this period. Placing an order on an account without executing a trade will not qualify as ‘Activity’ for these purposes. A monthly inactivity fee of $15 (or currency equivalent) in aggregate (or your cash balance if less than $15) will be applied for accounts that are inactive for 24 months or more.

If your account has been inactive for 3+ years we'll need to reassess your trading experience and ensure that we have your up-to-date contact details. You will need to complete our account reactivation form and a member of our Client Support team will be in touch to let you know if we need anything further from you or to let you know that your account(s) have been reactivated.

Clients that hold non-AUD accounts will be charged as follows:

Currency Inactivity fee amount
AUD 15
CAD 20
CHF 15
EUR 15
GBP 12
HKD 100
HUF 4500
JPY 1500
NZD 25
PLN 50
SGD 15
USD 15
Italian Financial Transaction Tax

City Index complies with Italian law and we apply the Italian Financial Transaction Tax to all CFD trades on Italian Indices and Italian Equities where relevant. For more information on how this could affect your trading, please contact our Client Management team or read our FAQs.

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Frequently asked questions

How are trading fees calculated?

There are two main fees you’ll encounter when trading the markets: the spread and overnight financing. Each covers a different aspect of your position and is calculated differently.

The spread is the cost to open and close your trade. To calculate how much you’ll pay via the spread, simply take your position’s value per pip – the City Index platform calculates this automatically on your deal ticket – and multiply it by the current spread.

On equities, however, you’ll pay a commission. Our commissions are charged at 0.09% for AU shares, with a $5 minimum. As you’re paying commission, spreads are typically much tighter on share CFDs.

Overnight financing is the cost to hold your position overnight, which is essentially capital you have borrowed to make your trade. It’s calculated using the relevant rate benchmark for your chosen market. If you’re long, you’ll pay 2.5% more than the current benchmark, if you’re short we’ll pay you 2.5% minus the current benchmark.

Find out more about the costs of CFD trading.

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What is the spread

The spread is the difference between the buy and sell prices on a market. The buy price (or ask price) is always slightly higher than the market’s current level, and the sell (or bid price) slightly lower.

The spread reflects the difference between the prices buyers are willing to pay for an asset and sellers want to receive for it. When you trade CFDs, it also includes your cost to open and close your position – so instead of paying commission, you’ll pay a slightly wider spread.

Share CFDs are the only exception to this. When you trade shares with CFDs, you’ll pay commission to cover the cost of your trade, meaning spreads are typically much tighter.

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What is the difference between fixed and variable spreads?

Fixed spreads don’t change, even if the conditions surrounding a market change. Variable spreads, on the other hand, may fluctuate over the course of the day – usually in response to changes to volatility or liquidity.

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