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

Spreads and margins

Indices – (CFD)

Market name Min. spread (fixed) Margin from*
Wall Street 2 points 5%
Germany 40 1.2 points 5%
Singapore Index 0.3 points 5%
US SP 500 0.4 points 5%
UK 100 1 point 5%

Shares – (CFD)

Market name CFD spread CFD commission / minimum Margin from*
DBS Group Holdings Market 0.08% / SGD 10 10%
Keppel Corp Market 0.08% / SGD 10 10%
Singapore Telecommunications Market 0.08% / SGD 10 10%
Apple Inc Market 1.5CPS / USD 8 10%
Facebook Market 1.5CPS / USD 8 10%

Forex – (CFD)

Market name Minimum spread Typical spread Margin from*
EUR/USD 0.5 0.8 5%
USD/JPY 0.6 0.8 5%
GBP/USD 0.9 1.8 5%
AUD/USD 0.5 0.9 5%
EUR/GBP 0.9 1.7 5%

Commodities – (CFD)

Market name Spread Spread pricing Margin from*
US Crude Oil 0.4 points Around market spread 20%
UK Crude Oil 5 points Fixed 20%
Coffee 0.9 points Fixed 20% (pay)
Sugar 0.06 points Fixed 20% (pay)
Natural Gas 18 points Fixed 20%

Metals – (CFD)

Market name Min. spread (fixed) Margin from*
Gold 0.5 points 20%
Silver 2.5 points 20%
Copper 0.4 points 20%
Platinum 0.83 points 20%

*for Retail clients. Accredited Investor rates here

Our Trading Charges

Spreads, commissions and margins

City Index is transparent and open about the details of all our related trading costs so that you know exactly how much you pay when you trade with us.

Spreads (fixed and variable)

We offer both fixed and variable spreads depending on the market you wish to trade. For a list of the spreads available on our most popular markets, see the tables below.

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 you need in order to open a position on a market with us. 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 will 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%
Commission

With the exception of share CFDs, all our CFDs are commission free.

Share CFDs are subject to commission charges which vary by market. These are shown below:

Market name CFD spread CFD commission Minimum
Singapore shares Market 0.08% SGD 10
US shares Market 1.5 cents per share USD 8
UK shares Market 0.10% GBP 8
European shares Market 0.10% EUR 8
Australian shares Market 0.08% AUD 5
Hong Kong shares Market 0.15% HKD 15
Japanese shares Market 0.05% JPY 1,000
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 open position (including weekend days). There is no financing charged on futures contracts. Our financing rates are set at 2.5% +/- the benchmark regional interest rate . 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
Singapore 2.5% + SORA 2.5% - SORA
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 your platform for details on further financing charges on FX.

Funding and withdrawal costs

Transactions involving debit or credit card deposits will be subject to a 2% charge. Bank transfers and payments made via our other funding methods will not incur any additional charges from City Index.

Foreign currency withdrawals (other than SGD) may incur charges from your bank. For all telegraphic transfers overseas, all charges will be borne by you. USD-denominated wire withdrawals will incur an interbank transfer fee determined by the transferring bank if your bank account is not associated with DBS or HSBC.

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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

Guaranteed stop loss orders (GSLOs) are free to place, and you will only pay a fee should the stop be triggered. This fee is known as the stop premium and varies by market. You can find full details of the stop premium for a given market in the Market 360 section of the trading platform. For an in-depth overview, visit our dedicated GSLOs page.

Futures rollover discount
You’ll receive a 50% spread discount if you automatically roll a futures contract at expiry. Rollover requests are by telephone, or can be selected in Web Trader on the Positions tab. For more information on futures 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 shares 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 within the trading platform.

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 Account Management 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.

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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Chat to our Client Management team
The fastest way our team can help you with any questions you may have about our costs and charges is via live chat. Start a new live chat session by clicking the button below.

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.

Overnight financing is the cost to maintain your 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.

To trade equities, you’ll also pay commission. Because of this, spreads are typically much tighter on equity markets.

Find out more about the costs of CFD trading.

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What is a 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.

Some markets may have a fixed spread that changes at clearly defined periods of the day. For example, a market might have a spread of 1 point from 8:00 to 16:30, but 2 points from 16:30 to 22:00.

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