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iFOREX Conditions

Take Advantage of a the Best Trading Experience Online

Trading Conditions

Customers at iFOREX enjoy an exceptional trading experience and receive attentive service around the clock. We provide nothing but innovative tools and advanced platforms that ensure you could trade with safety and ease. Learn more about our unique trading terms and conditions, exclusive features and variety of services.

  • General Trading Conditions

  • Product Details

    iFOREX offers a highly competitive conditions for leveraged margin trading on various financial instruments, including Currencies (Forex), Precious Metals, Commodities, Indices and Share based CFDs.

    Spreads
    The Spread is the cost of trading – it is the difference between the Sell (Bid) price and the Buy (Ask) price. For example, if the USD/JPY is trading at a sell price of 101.202 and a buy price of 101.222, the difference between these two prices is called the spread. In this case the spread is 2 pips.

    Margin and Leverage
    While the "Margin" acts as collateral to cover any losses that you might incur, it also allows you to hold a position much larger than your actual account value, giving you the possibility to generate large profits relative to the amount invested.

    Leverage is a double-edged sword and can dramatically amplify your profits, however it can also just as easily amplify your losses. When you use excessive leverage, losing trades can quickly offset many winning trades. Leveraged trading carries a high degree of risk and may not be suitable for all investors.

    As an iFOREX account holder, you’re entitled to our Negative Balance Protection program, which means that you can never lose more than you deposited; nonetheless, a small market movement can result in a substantial loss of funds. Our Trading Platform automatically calculates your margin requirements before executing any order, and checks the level of available funds before any request to withdraw funds is made.

    The margin requirements are relevant upon increasing Exposure in the account, either by opening/closing deals or by requesting to withdraw funds while having open positions in the account. The margin requirements reflect the potential risk in positions, based on volatility, liquidity and pricing availability, in any given asset. This is why margins increase during and around trading breaks.

    • Currencies

      Currency Pair Market Spread (pips)1 Spread (Value) Normal Margin2 Increased Margin3 Min Deal Size4 Max Exposure5
    • Commodities

      Commodity Market Spread (pips)1 Spread (Value) Normal Margin2 Increased Margin3 Min Deal Size4 Max Exposure5
    • Indices

      Index Market Spread (pips)1 Spread (Value) Normal Margin2 Increased Margin3 Min Deal Size4 Max Exposure5
    • Shares

      Share Market Spread (pips)1 Spread (Value) Normal Margin2 Increased Margin3 Min Deal Size4 Max Exposure5

    1 iFOREX aims to provide its customers with tight, competitive fixed spreads, however, fixed spreads may not be guaranteed in extreme market conditions and may widen depending on market volatility. iFOREX reserves the right to widen spreads at its own discretion. Spreads are automatically determined according to the amount of your first deposit. If you are interested in changing your account's spreads, contact your Account Manager.
    2 Margin requirements are subject to change without notice based on price fluctuations.
    3 Increased Margin is typically double the normal required margin and is available during and around trading breaks. The reason behind this policy is to moderate the risks caused by potential price gaps that can occur during these times and can cause serious harm to invested funds.
    Standard algorithm: The increased Margin stated above come into effect approximately 15-90 minutes prior to trading breaks. These trading breaks may include daily, weekends and holidays breaks or any other breaks whether in the initiative of the company or due to other circumstances. The increased Margin is usually valid up until 15 minutes following the re-opening of the market.  For Fridays’ closure, increased Margin come into effect on most instruments 2 hours before the trading close.
    4 The minimum deal sizes and contracts refer to Standard Accounts.
    5 Although at any time clients can open and trade several instruments, each instrument has a maximum net exposure limit that cannot be exceeded.
    The Max Exposure is expressed in its base asset's unit.

    * Commodity, Index and Share CFDs are available only in specific jurisdictions, subject to regulatory restrictions.

    For more information, or any related questions, do not hesitate to contact our Customer Service.

  • Trading Hours

    During the European and North American winter, the weekly activity begins on Sunday at 22:05 GMT continuously until Friday, 21:00 GMT. During the Day Light Saving times in these regions, the weekly market activity begins on Sunday at 21:05 GMT and ends on Friday at 20:00. Market activity hours may vary due to public holidays or due to unusual liquidity conditions which may arise from exceptional global events. Opening or Closing times may also be altered by iFOREX due to liquidity and risk management considerations.

    Although most of the instruments are traded on a 24 hour basis without interruption, some instruments, however, have special trading hours as seen in the table below:

     

    Not sure which Market includes the instrument you're looking for? Click here to view the full list of instrument per Market.

  • Holidays

    To ensure that you are aware of all market hours and holidays please find below a list of events which could change trading hours.
    At iFOREX we do our utmost to keep this information up-to-date on a best efforts basis.
    Should you wish to receive more information please feel free to contact our dealing desk.

     

    Not sure which Market includes the instrument you're looking for? Click here to view the full list of instrument per Market.

  • Orders and Execution

    Order Types

    MARKET ORDERS  
    Open Deal An order to open a position at the current available market rate
    Close Deal An order to close a position at the current available market rate

     

    LIMIT ORDERS  
    Stop Loss The Stop Loss is an order to open or close a deal at a rate inferior to the current market rate
    Take Profit The Take Profit is an order to open or close a deal at a rate superior to the current market rate

     

    Market Orders
    Market Orders (trade requests, i.e. Open Deal, Close Deal) are executed at the price that is in effect on the Company’s Trading Platform (client side) at the exact time of execution, provided that such price is within a predetermined tolerance level from the underlying price updated in the Company’s servers and irrespective if the underlying price is above or below the price updated in the Trading Platform (What You See Is What You Get, or WYSIWYG). In the event that the price updated in the trading platform (client side) exceeds the above tolerance level, for example, due to movements in the underlying assets between the time a client placed its order and the time it is received and executed, high markets volatility and communication latency, the Order will be executed at the price updated in the Company’s servers which shall be different from the price updated in the Trading Platform (Market Price), on a symmetrical basis. In the event of a substantial difference between the price updated in the Trading Platform (client side) and the price updated in the Company’s servers, the Order shall be rejected.

    Limit Orders
    Limit Orders (future orders) are executed at the market price updated at the Company’s servers which may be different than the price indicated in the Order (“Slippage”). Slippage may occur in the event where the price indicated in the order is not available in the servers, for example, due to high volatility and gaps in the market prices. In such event, the order will be executed at the first available price, irrespective of the direction of the slippage, either to the client’s favor or not, in a symmetrical and transparent manner (Symmetrical Slippage).

    Instruments (e.g. shares and indices) which are not traded on a 24 hours basis, may experience a market gap on a daily basis and are therefore more susceptible to slippage. It is important to note that Slippage does not affect the Negative Balance Protection and therefore the Client will never lose more than the amount invested (including any profit, if gained), even if a slippage occurs.

    Delays in Execution
    A delay in execution may occur for various reasons, such as technical issues with the Client’s internet, mobile or other communication connection to the iFOREX servers, which may result in “hanging orders”. A disturbance in the connection path can sometimes interrupt the signal and disable the platform causing delays in transmission of data between the trader’s platform and the iFOREX server. 

    Hanging Orders
    During periods of heavy trade volume or communication latency, hanging orders may occur, which means that a Limit Order has been placed, but it is simply taking a few moments for it to be confirmed/processed. During periods of heavy trading volumes or communication latency, it is possible that a queue of Limit Orders will form. That increase in incoming orders may sometimes create conditions where there is a delay in confirming/processing certain Limit Orders. In some cases, the position may in fact have been executed and the delay is simply in the client’s side display due to heavy internet traffic.

    Keep in mind that it is only necessary to enter any order once. Multiple entries for the same order may slow or lock your computer or inadvertently open unwanted positions.

  • Negative Balance Protection

    iFOREX's Negative Balance Protection policy guarantees that the client’s losses are limited to the funds invested in the client’s account. According to this policy, the client shall never have to face a debit balance due to trade losses when trading with iFOREX and client’s potential loss shall be limited to the funds deposited in the Client’s account and to the funds gained by the client, if any.

    To implement this policy, iFOREX developed an automated monitoring tool, automatically closing in real-time all positions once a client’s account reaches Margin Level Zero (i.e. "Exposure Coverage" = 0). iFOREX will automatically close all positions at the price then offered by iFOREX. In the event that a client’s balance falls below Margin Level Zero due to the difference between Margin Level Zero and the actual Margin Level below Zero which the system closed all positions at the price then offered by iFOREX, iFOREX shall bear the mentioned difference.

  • Bonus Terms and Conditions

    Introduction

    These Bonus Terms and Conditions are in regards to the Trading Bonus, Cashback Bonus and Trial Account Bonus offered by the Company (hereinafter called the ‘Bonus’), as detailed below, and is considered to be an integral part of the Company’s Terms and Conditions. All interpretation of terms included herein, are as interpreted in Company’s Terms and Conditions, which are available in Company’s website www.iforex.in.

     

    Conditions of Eligibility

    The Bonuses are available to Company’s clients who have satisfied the eligibility criteria of the relevant offer and passed all required registration procedures according to the Company’s requirements as amended from time to time at the sole discretion of the Company (the ‘Eligible Clients‘). 

    The Company offers any Bonus at its absolute discretion, to any Client and/or country/region as it deems appropriate.

    The Company reserves the right, at its sole discretion, to decline registration of any user, including Eligible Clients, in the Bonus and/or revoke the offer of any bonus at its absolute discretion.

     

    Trading Bonus

    Trading Bonus is granted to Eligible Clients as a percentage of the amount of funds deposited in their trading account, as agreed and determined by the Company at Company’s absolute discretion and on a case to case basis.

    The Trading Bonus can only be used as extra Margin for the exposure of open positions and is intended for trading purposes only (e.g. the Client will not be able to withdraw the Bonus granted).

    The Trading Bonus it’s granted per each Eligible Client.


    Example

    Eligible Client agreed with the Company to receive 30% bonus on his deposit of $1,000. Eligible Client will receive extra Margin of $300 (i.e. 30% of his deposit) as Trading Bonus.

    This bonus will reflect on client’s account as follows:

    Balance Equity Margin
    Available
    Trading
    Bonus
    $1,000 $1,000 $1,300 $300

     

    Trading bonus will not be available for withdrawal at any time whatsoever. Any profit made by utilizing the Trading Bonus may be withdrawn by the Eligible Client subject to the Company’s withdrawal policy and applicable law. The withdrawable profits made out of the Trading Bonus will be visible under the section "Balance” of the client’s account. 

    Trading Bonus which was granted due to a certain deposit shall be cancelled upon the withdrawal of all or some of the deposit which credited the client with the Trading Bonus, or shall be canceled partially if the client requests to withdraw an amount that will lower his Equity on an amount which will be less than twice his Trading Bonus amount.


    Example

    Eligible Client agreed with the Company to receive 30% bonus on his deposit of $1,000. Eligible Client has the below Equity and Balance in his Account:

    Balance Equity Margin
    Available
    Trading
    Bonus
    $1,000 $1,000 $1,300 $300

    Scenario A

    Client has requested to withdraw the full amount of his deposit ($1,000). Trading bonus will be entirely removed. 

    This will reflect on the client’s account as follows:

    Balance Equity Margin
    Available
    Trading
    Bonus
    $0 $0 $0 $0

    Scenario B

    Client has requested to withdraw $800, therefore the client’s Equity shall became smaller than twice the Trading Bonus due to the Client’s withdrawal. Therefore the Trading Bonus will be reduced in the amount required for the Equity to be twice the Trading Bonus.

    This will reflect on the client’s account as follows:

    Balance Equity Margin
    Available
    Trading
    Bonus
    $200 $200 $300 $100

     

    All Trading Bonuses shall be cancelled if the account has remained inactive for 7 consecutive weeks.

     

    Cash Back

    The CashBack program credits Eligible Clients’ account with cash on a weekly basis according and subject to the volume achieved in that week and up to a certain amount as determined in advance by the Company (“Pending Bonus”). 

    The Pending Bonus amount may derive from a certain or a number of deposits, as a percentage of the value of the deposit, or determined at the Company’s sole discretion.


    Example

    An Eligible Client who deposited $1,000 was entitled to receive up to 40% of the value of his deposit as Cash Back for trading a volume of $20,000,000. Such client will receive $400 as Pending Bonus.

    This Pending Bonus will reflect on Client’s Account as follows:

    Balance Equity Margin
    Available
    Pending
    Bonus
    Volume
    traded
    Volume
    Required
    $1,000 $1,000 $1,000 $400 $0 $20,000,000

     

    Each week, the Realized CashBack which is calculated according to the client’s weekly volume shall be deducted from the Total CashBack amount (Pending Bonus) and credited to the client’s account according to the ratio between the client’s actual weekly volume (in USD) and the required volume, as indicated in the trading platform. It is clarified that the client is only entitled to the Realized CashBack and the Pending Bonus is realized only after client completes the required volume. The CashBack amount (“Realized CashBack”) is limited to the Pending Bonus allocated to the client. 

    The volume is calculated on an ‘in and out’ basis, which means that the opening of a $1 million (or at another currency equivalent) position and the closing of the same position, count as $2 million (or at another currency equivalent) totals towards the client’s volume requirement.


    Example

    Scenario A

    The Eligible Client in the previous example, was offered $100 Realized Cash Back for each $5,000,000 traded. After 1 week, he has achieved the $5,000,000 volume. Therefore $100 as Realized CashBack has been moved from Pending Bonus to Equity.

    This will reflect on the client’s account as follows:

    Balance Equity Margin
    Available
    Pending
    Bonus
    Volume
    traded
    Volume
    Required
    $1,100 $1,100 $1,100 $300 $5,000,000 $20,000,000

    Scenario B

    After 2 weeks from the deposit, the client has achieved $5,000,000 volume traded and made $300 of profits. Therefore another $100 as Realized CashBack has been moved from Pending Bonus to Equity.

    This will reflect on the client’s account as follows:

    Balance Equity Margin
    Available
    Pending
    Bonus
    Volume
    traded
    Volume
    Required
    $1,500 $1,500 $1,500 $200 $10,000,000 $20,000,000

     

    After being credited to the Equity, the Realized CashBack will be available for trading or can be withdrawn by the Client at any time. Any profit made by investing the Realized CashBack amount may as well be withdrawn from the Eligible Client.

    The CashBack promotion is time limited, and the Client receives Realized CashBack within the first 3 months from the day he was granted with the Pending Bonus. The client is Eligible for further CashBack, when he makes further deposits.


    Example

    The Eligible Client in the previous examples, decided to withdraw his $300 profits and the $200 Realized Cash Back amount received. Therefore he requested a withdrawal of $500 in total. The remaining $200 of Cash Back Bonus will remain as Pending Bonus in his account, therefore the client will still be able to keep on trading with $1,000 and has two and a half months left to convert the Pending Bonus into Realized CashBack.

    This will reflect on the Client’s account as follows:

    Balance Equity Margin
    Available
    Pending
    Bonus
    Volume
    traded
    $1,000 $1,000 $1,000 $200 $10,000,000

     

    All CashBacks are given in the account's currency. 

     

    Trial Account

    Users may be provided with a trial account which includes a Trading Bonus (as explained above) of US 25$ that can be used to trade the financial instruments offered in the Trial Account (excluding binary options) with a total exposure of up to US $3000.

    Trading shall be made according to the Company’s Trading Conditions and the Trading Platform’s End-User-License-Agreement which are available in Company’s website, www.iforex.in.

    The Trial Account shall expire and all pending transactions in the Trial Account shall be terminated within 3 days of the day of the first transaction made in the Trial Account (“Trial Period”). Any amount which exceeds US 25$ (“Profit”) may either be used as margin for the user’s trading account with the Company, subject to the user’s successful conclusion of the company’s registration process and a minimum deposit of US 100$, or withdrawn to a bank account under the user’s name. Withdrawals are subject to the Company’s withdrawal procedures and may further be subject to a transfer fee.

    Bonus is available only to clients registering with the Company’s platform for the first time and having satisfied the eligibility criteria as described in Section 2 above. One Bonus per household\IP Address.

    Any Profit not transferred to the trading account or withdrawn within 14 days of the first transaction opened by the user in the Trial Account shall be cancelled and no longer be available to be used as margin or for withdrawal.

     

    General Terms

    Any indication or suspicion, in the Company’s discretion, of any form of illegal, unfair and\or abusive trading methods or conducts (including but not limited to trading activity patterns that indicate an aim to benefit financially from the Trading Bonus without taking market risk and\or by opening, operating or managing more than one account per client) as well as any indication or suspicion of  fraud, manipulation or a breach of the Company’s agreements, policies and conditions with respect to the Bonus Scheme will nullify all bonuses previously credited to the account and to any related account. Under such circumstances, the Company shall have the right, in its sole discretion and without derogating from its rights under its agreements with the client and applicable law, to nullify and cancel all transactions carried and/or profits or losses garnered therein and to block all relevant accounts.

    Company reserves the right, as it in its sole discretion deems fit, to alter, amend, suspend, cancel or terminate any of the above mentioned Bonus, or any aspect of the above mentioned offer, at any time by giving  to the Client proper notice, as per Company’s Terms and Conditions. 

  • Additional Trading Rules

    Margin Call
    iFOREX does not proceed to a compulsory closing of clients’ positions as long as there is positive equity in the client’s account. This enables clients to use their equity to the full extend in order to support their open positions against price fluctuations.

    Margin Information
    The window displayed below provides detailed information related to the margin of an account:

    • Used Margin shows the amount of equity in an account that is used by the currently open positions. In the case where used margin is equal to equity, this indicates maximum leverage usage in the account.
      Used Margin = Net Exposure/Leverage
    • Margin Available shows the amount of equity in an account that is not currently being used and is available for further increase of net exposure. In the case where Margin Available is zero, this indicates maximum leverage usage in the account.
      Margin Available = Equity – Used Margin
    • Margin Utilization shows the percentage of equity that is being used in the currently open positions of the account. 100% Margin Utilization indicates maximum leverage usage in the account.
      Margin Utilization % = (Used Margin/Equity) x 100
    • Exposure Coverage shows what percentage of the Net Exposure of an account is held in equity as collateral.
      Exposure Coverage = Equity/Net Exposure


    Maximum Exposure
    As a prudential measure aimed at better risk management and avoidance of excessive exposure to a single client, iFOREX has set a maximum net exposure limitation of up to 15 (fifteen) million US dollars per client. iFOREX had also set a maximum net exposure for per instrument. To view the maximum exposure per instrument click here. iFOREX has the right, at its sole discretion to cancel or change such a limitation at any given moment without any prior notice.

    Hedging
    Hedging is defined as the opening of two Transactions on the same instrument or underlying asset at different directions (one "buy" and the other "sell"), whether or not at the same time and whether or not for the same quantity. iFOREX considers hedging transactions for the purpose of calculating the minimum margin on a cumulative basis or on a "net" basis. Furthermore, iFOREX considers the closing of one of the hedged Transactions as the opening of a new Transaction which amount’s equals to the amount of the remaining Transaction.
     
    Netting of Transactions
    In the case where more than one deal needs to close simultaneously in an account, iFOREX will close all open positions as a bulk.
    The transaction number assigned on each closed position is set based on FIFO rules. This means that upon the closing of the positions, the first position opened will receive the lowest transaction number and the last position opened will receive the highest transaction number.
     
    Unauthorized Trading Practices
    iFOREX supports fair trading and does not allow practices which exercise abusive trading such as lag trading, price manipulation, time manipulation or any other practices which are illegal and/or are utilized to give the Client an unfair advantage. Examples for such forbidden practices can be, but not limited to, any of the following:
    • Scalping is a trading strategy that attempts to make many profits on small price changes. Traders who implement this strategy will place anywhere from 10 to a couple hundred trades in a single day in the belief that small moves in the price are easier to catch than large ones.
    • Automation (e.g. EAs) or algorithmic trading is the use of electronic platforms for entering trading orders with an algorithm which executes pre-programmed trading instructions whose variables may include timing, price, or quantity of the order, or in many cases initiating the order by a "robot", without human intervention.
    • API trading is an application programming interface refers to all trading that uses a software program to interact with other programs. The API acts as the middleman between the trader and the market, relaying orders and retrieving information as needed.
    • ‘Multiple accounts’ is the term referring to two or more accounts set up by one client in order to get multiple incorrectly the account related benefits and bonuses provided by iFOREX.

    Errors in Rates
    Online trading technology is not perfect and in rare cases, the feed can be disrupted. This may only last for a moment, but when it does, prices can often become affected. While it may be tempting to place an "arbitrage transaction", keep in mind that in such situations, the prices do not reflect the true market price and your actual fill may be many pips away from the displayed price. In the event that trades are executed at prices not actually offered by iFOREX, iFOREX reserves the right to reverse such trades as they are not considered valid trades. Keep in mind that these instances are usually rare, and by not trading during these moments, traders can avoid the risk associated with the above scenarios.
     
    Maintenance Fee
    Clients’ accounts in which there have been no trading activity for a period of twelve (12) consecutive months will be charged with a quarterly maintenance fee of US$15 or the account’s entire Equity if the Equity is less than US$15. 

    If the client does not have any available funds in its account iFOREX will not charge maintenance fee.

     

    For more information about trading, see our Trading Agreement.

  • Forex

  • Rollover

    In the Forex and Precious Metals Spot market, rollover is the process of extending the settlement date of an open position when it reaches its value date. In most currencies and other financial Spot trades, a position is open with validation for two business days after its execution date. By rolling over the position - the position’s settlement period is extended by two additional business days. In similarity to the Forward mechanism, the rollover process involves a price adjustment due to interest rate differences between the 2 financial products, plus or minus a mark-up (interest spread), depending on the type of position you hold (Long\Short).
    iFOREX will rollover all open Spot and Forward Transactions which are not closed by the Client upon reaching their value date for a further period of two (2) business days. Thereafter, the opened Transactions will be rolled over for additional periods of two (2) business days each indefinitely until such time as iFOREX will close such Transaction. It is important to note that the accumulative "overnight” rollover charges may be higher than the forward outright. When all positions are hedged in an account, although the overall net position may be flat, the account can still sustain losses due to the rollover spread.

  • Index and Commodity CFDs

  • Overnight Financing

    By trading leveraged Share CFD’s with iFOREX, you are subject to Overnight Financing – this is a credit/debit adjustment for keeping a CFD position open after its underlying exchange is closed. The Overnight Financing is the expression of the interest adjustment because CFD’s are a margined product. In other words, when you hold a CFD position overnight, your position will consequently be credited or debited according to the relevant interbank rate plus 2.5% mark-up according to the following formula:

    Long Positions (Buy):

     

    Short Positions (Sell): 


    This next example involves a situation when the Interbank Rate is higher than the mark-up. In such cases your account will be credited each night if you’re holding a short position:

    • Symbol = AAPL
    • Currency = USD
    • Interbank Rate = 3.25%
    • Ask Price (Buy) = 102.85 USD
    • Bid Price (Sell) = 102.50 USD
    • Amount = 1000 Shares

     

    Long Positions (Buy):

    Short Positions (Sell): 

    Please note that the Overnight Financing on Friday is 3 times more than usual as it covers the entire weekend period (Friday thru Sunday). The Overnight Financing amount is debited or credited in the CFD quoted currency. If the CFD's quoted currency differs from the account’s currency, it’s converted to the account’s currency.

  • Contracts' Rollover Dates

    Every CFD that is based on future contract (i.e. commodities and indices) has a rollover date.

    Upon reaching the relevant instrument’s rollover date, all open future contract CFD positions will be rolled-over to the next contract, so that the positions remain open with the new future contract.

    Upon effectuating such rollover, the Client’s balance shall be adjusted in order to reflect the difference between the price of the expired contract and the price of the new contract and may also include a mark-up spread. All the associated Limit Orders shall be adjusted to the new future contract.

    For example, if the last price of the WTI Oil February contract is $50.125 and the market price of the following contract (March) at that time is $50.805, then the price level of all the outstanding limit orders will be updated upwards by $0.68 and the balance shall be credited accordingly.

    The rollover date in iFOREX is usually 2 business days prior to the underlying contract's expiration, except for cases of Agricultural products or Metals where the expiration is 10-21 business days prior to the underlying contract's expiration due to low liquidity on the underlying contracts.

    The rollover dates of contracts depend on the instrument you are trading, and those set out below shall be the sole rollover dates applicable to iFOREX's CFD positions:

  • Share CFDs

  • Overnight Financing

    By trading leveraged Share CFD’s with iFOREX, you are subject to Overnight Financing – this is a credit/debit adjustment for keeping a CFD position open after its underlying exchange is closed. The Overnight Financing is the expression of the interest adjustment because CFD’s are a margined product. In other words, when you hold a CFD position overnight, your position will consequently be credited or debited according to the relevant interbank rate plus 2.5% mark-up according to the following formula:

    Long Positions (Buy):

     

    Short Positions (Sell): 


    This next example involves a situation when the Interbank Rate is higher than the mark-up. In such cases your account will be credited each night if you’re holding a short position:

    • Share: Apple
    • Currency = USD
    • Interbank Rate = 3.25%
    • Ask Price (Buy) = 102.85 USD
    • Bid Price (Sell) = 102.50 USD
    • Amount = 1000 Shares

     

    Long Positions (Buy):

    Short Positions (Sell): 

    Please note that the Overnight Financing on Friday is 3 times more than usual as it covers the entire weekend period (Friday thru Sunday). The Overnight Financing amount is debited or credited in the CFD quoted currency. If the CFD's quoted currency differs from the account’s currency, it’s converted to the account’s currency.

  • Dividends

    In the event of a distribution of cash dividends in relation to a share CFD, a dividend adjustment will be made to the Client’s Balance with respect the underlying share’s positions held by the Client at the end of business day which precedes the ex-dividend date. The dividend adjustment shall be calculated based on the size of the dividend, the size of the Client’s position and whether it is a buy or a sell transaction, whereby in long positions the adjustment shall be credited to the Client’s Balance and in short positions the adjustment shall be debited from the Client’s Balance. Dividends shall be credited or debited from the Client’s Balance outside the underlying share’s trading hours and before the opening of the share’s next trading day, and are contingent upon the Client holding its respective position at the time of the dividend adjustment. During this period, in order to keep the fair value of the Client’s Equity until the opening of the next trading day, the Company shall adjust the Client’s position in accordance with the dividend amount debited or credited from the Client’s Balance.

    Example:
    Coca-Cola issues a dividend of 0.35 USD per share.
    The Ex-Dividend date is November 29th and the settlement date in iFOREX is November 28th at 22:05 GMT.
    The closing price before the settlement is 41.65.
    A client that holds a Long positon of 5000 shares will be credited with 0.35 x 5000 = 1750 USD if his deal is open at the settlement date.
    Similar amount will be charged from the balance of a client that holds a Short position.
    The share price will be adjusted during the afterhours from 41.65 to 41.30 which equals to the last share price minus the dividend amount.

    Share Market Dividend Amount Date and Time (GMT)
    There's currently no information on future Corporate Actions
  • Corporate Actions

    Corporate Actions are certain events which effect a public company's shares value. Upon the occurrence of a Corporate Action in a specific share, iFOREX shall liquidate any open position(s) and remove any limit order(s) in the CFD which quotes the specific share. 
    Corporate Actions in iFOREX include Splits, Rights Offering, Delisting and any other event which materially affects or may materially affect the shares’ price (including material company announcements, takeovers, mergers, insolvency etc.).

    Please find below a list of the upcoming Corporate Actions:

    Share Market Type Date and Time (GMT)
    There's currently no information on future Corporate Actions