Markets

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What are Indices?


Equity indices, or stock indices as they are also commonly known, are actual stock market indexes, which measure the value of a specific section of a stock market. They are calculated based on a weighted average of the prices of selected stocks, which belong to the actual category that they represent. Stock indices can represent a specific stock market such as NASDAQ, or they can represent a specific set of the largest companies of a nation such as the American S&P 500 , the British FTSE 100 , or the Japanese Nikkei 225.

Why trade Indices with Direct TT?






Product NameOfficial Name*
AUS 200The S&P/ASX200 - The Australian Stock Exchange Index
FRA40CAC40 Cotation Assistee en Continu - French Stock Exchange Index
COPPERCopper
GER30DAX Deutsche Aktien indeX - German Stock Exchange Index
UK100FTSE100 - Financial Times & London Stock Exchange Index
NGASNatural Gas
ESP35Spanish Stock Exchange Index
USA30Dow Jones Industrial Average
NAS100NASDAQ
SPX500S&P 500
HKG33Hang Seng Index - Hong Kong Stock Exchange
JPN225NIKKEI225 - Tokyo Stock Exchange


* Terms like S&P 500 or Dow Jones Industrial Average are trademarked and cannot be used by CFD brokers. As a result each broker must devise a unique name for these products.




CFD Trading Hours and Break Times


Product NameTrading Hours in GMT**Break Time in GMT**
AUS 200Daily 23.00 - 21.00Daily 05.30-06.10
FRA40Daily 06.00 - 20.00None
COPPERSun 23.00 - Fri 20.45Daily 21.00 - 23.00
GER30Daily 06.00 - 20.00
None
UK100Daily 07.00 - 20.00None
NGASSun 23.00 - Fri 20.45Daily 21.00 - 23.00
ESP35Daily 07.00 - 16.30None
USA30Sun 22.00 - Fri 20.15Daily 20.15 - 21.30 and 21.00-22.00
NAS100Sun 22.00 - Fri 20.15Daily 20.15 - 21.30 and 21.00-22.00
SPX500Sun 22.00 - Fri 20.15Daily 20.15 - 21.30 and 21.00-22.00
HKG33Mon 1:15- Fri 8:15Daily 04.00-05.00
JPN225Sun 24:00- Fri 20:15 Daily 20.15-24.00


** Certain products' trading hours are subject to shift 1hour forward/backward with a change between Standard Time and DST



Pip Value


Product NameCurrency Used for Pip Value ConversionPip Value Calculations
AUS 200Australian DollarAUD/USD = 0.77; Pip Value = $0.77
FRA40EuroEUR/USD = 1.10; Pip Value = $1.10
COPPERUSDPip = $1.00
GER30EuroEUR/USD = 1.10; Pip Value = $1.10
UK100British PoundGBP/USD = 1.25; Pip Value = $1.25
NGASUSDPip = $1.00
ESP35EuroEUR/USD = 1.10; Pip Value = $1.10
USA30USDPip = $1.00
NAS100USDPip = $1.00
SPX500USDPip = $1.00
HKG33Hong Kong DollarUSD/HKG = 7.76; Pip Value = $0.13
JPN225Japanese YenUSD/JPY = 112.00; Pip Value = $0.09



MT4 Configurations (of 1 Lot)


Product NameMT4 Contract SizeMultiplierMinimum Trade SizeMaximum Trade Size
AUS 200100.10.1100
FRA40100.10.1100
COPPER101000.1100
GER30100.10.1100
UK100100.10.1100
NGAS101000.1100
ESP35100.10.1100
USA30100.10.1100
NAS100100.10.1100
SPX5001010.1100
HKG3310.11100
JPN2251001101000


CFD commissions are charge per contract. i.e. 1 MT4 lot GER30 = 10 CFD contracts GER30. Commission is charged on 10 contracts.




Margin Requirements

Notional Value x Margin Requirement for the Account

* Notional Value = Contract Size x Multiplier x Price

** Margin Requirement are converted to respective account currency



Example:


Margin Requirement for 1 standard lot of USA30

Account leverage 1:100

 

Notional Value = Contract Size x Multiplier x Price

10 x 0.1 x 23,520.50 = 23,520.50

 

Margin Calculation = Notional Amount x Account margin requirement (1/100 = 0.01 or 1%)

23,520.05 x 1% = $235,20 margin requirement for 1.0 lot of USA 30

 


For a full list of offered products, click here.


For more information, please check the FCAs consultation paper on CFDs by clicking the link below:
https://www.fca.org.uk/news/press-releases/fca-proposes-stricter-rules-contract-difference-products

 


Disclaimer:


Margin requirements are subject to change, we will advise clients of updates to margin requirements and allow a reasonable timeframe to add additional funds or face close-out.

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Risk Warning: CFDs and Forex are leveraged products which carry a high degree of risk and are not suited for everyone. Losses can exceed your investment. Please ensure you fully understand all the risks involved, seeking independent advice if necessary prior to entering into such transactions.

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