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Holiday Trading Hours         +44 (0)20 7456 7020 support@capitalspreads.com


Losses can exceed deposits

Frequently Asked Questions

Use the collapsible menus below to find the answers to any questions you may have.

  • Apply for an Account

    • How do I apply for an account?

      Accounts are subject to status, but to apply for an account, please complete our online application form. This can be found as a link on the home page (Apply for an account). This should take no more than 10 minutes. You will be asked to select the type of currency you wish to trade in, so be sure that you select the currency you require. We then conduct an electronic check to confirm your identity and address.

      If we are unable to electronically confirm your identity and address, we will require documentation in order to activate your account. If this is the case or if we require any additional information, we will send you an email with details of what we require.

    • What type of account can I have?

      Capital Spreads  offer deposit accounts, which means that you can begin betting once you have deposited funds into your account.

      If you would like to hold an account in another currency (Sterling/US Dollar/Euro) or if you are interested in holding a corporate account, please contact our customer support team: support@capitalspreads.com or +44 (0)20 7456 7020.

    • Can I recommend a friend?

      If you have a friend that is interested in opening an account with Capital Spreads we can offer you both a trading bonus for the introduction. Once your friend's account has been opened and the terms and conditions below have been met, we will credit both accounts with a trading bonus. Contact us to claim your reward!

      Please note that the bonus is for trading purposes only and cannot be withdrawn as cash from the account unless you have demonstrated that you have used the bonus for trading purposes. You must place a minimum of 5 non equity trades within 1 month of receiving the bonus.

      The following Terms & Conditions apply:

      1. You must have an account with Capital Spreads and have an existing personal/business relationship with the person you would like to refer, and it is your understanding that they would be interested in receiving information about products provided by London Capital Group (LCG). This offer is not open to LCG employees or their families, nor anyone who works for a competitor of LCG. You may not refer yourself, family members, nor people who live in the same household as you.

      2.  The referred friend must be a new user to Capital Spreads (not having previously held a Capital Spreads or other London Capital Group account). Accounts are opened subject to status, not all applicants will be successful in their application.

      3. Once your friend’s account has been opened you must fund your account with £500 and place 5 opening non-equity trades for each friend you refer in order to qualify for the offer. Your friend must also deposit £500 and place at least 5 opening non equity trades. Once you and your friend have fulfilled these terms please email Customer Support on support@capitalspreads.com within 1 month of the friend’s account being activated quoting the code "RAF100” and we will add the £100 bonus to you and your friends account (or equivalent currency amount converted at Capital Spreads’ current spot rate) within 72 hours.

      4.  Referrals are limited to a maximum of 5 friends per account holder, who open new accounts with any one of the London Capital Group trading names. Individuals may only be referred by one person, and can not be referred on numerous occasions via new accounts with different London Capital Group trading names. If you wish to refer more than 5 friends, please contact our partnerships team on partnerships@londoncapitalgroup.com

      5. The bonus is for trading purposes only and cannot be withdrawn as cash from the account unless you have demonstrated that you have used the bonus for trading purposes. You must place 5 opening non equity trades within 1 month of receiving the bonus. If you do not meet these terms we reserve the right to revoke your bonus.

      6. We will not be liable for any losses that you may incur as a result of trading with the bonus amount.  Any trading losses made from the 5 non equity trades will be offset against the funds on your account. As soon as an amount equal to the trading bonus has been lost via trading activity, there is no longer a requirement to place 5 non equity trades within 1 month of receiving the bonus. Funds may be withdrawn prior to the placing of 5 non equity trades subject to sufficient available funds being on the account, excluding the bonus payment.

      7. We reserve the right to amend, withdraw or restrict this offer at any time without notice. This offer is subject to fair use policy and we have the right to withhold this offer when we have reasonable belief that the offer is being abused in any way, such as the co-operation, collusion and the organisation of trades from the same source.

      8. We are the sole arbiter of these rules and any other issue arising under this promotion.

      9.  This offer cannot be used in conjunction with any other account opening offer.

      I hereby consent LCG to provide information to my friend/colleague on my behalf, which will include reference to my name. I also acknowledge that I will indemnify LCG for any penalty incurred as a result of an inappropriate introduction.

    • What are Limited Risk Accounts?

      At Capital Spreads we want to help minimise the risks of trading. We have therefore designed an account where all your positions will have an associated Guaranteed Stop Order attached to them. This means that, should the market move against you, we will guarantee to close all your positions at a pre-specified exact point. In other words, for every trade you open with a Limited Risk Account you must specify a guaranteed stop to cover the maximum possible loss on that trade. This way you cannot lose more than you have initially invested.

      Depending on your level of experience and financial situation you may be steered towards this account when you apply. Once you have gained some experience you are welcome to contact Customer Support to request to swap your account to a standard account. This means you will have the option of placing Guaranteed Stop Orders if you wish but these will not be mandatory.

      As mandatory Guaranteed Stop Orders are essentially a form of insurance against market gaps, they come at a small cost. This will be a premium that will be debited from your account when you place a trade. You should also note that by opting for a Limited Risk Account your Stop will need to be placed further away from your entry level than if you selected a standard account where Guaranteed Stop Orders are not mandatory. Please also be aware that you will not be able to amend orders or place any new orders with guaranteed stops outside of our market hours.

      Details of the premiums and minimum distances can be found by clicking on the "I" button on the trade ticket which will take you to the Market Information sheet.

  • Funding Your Account

    • How much do I need to deposit?

      We do not require you to deposit funds into your account until you wish to trade.

      To calculate the minimum deposit required to open a trade, you will need to review the Minimum IMR information, which can be found on the Market Information ticket linked to each product. Please look at the Managing Account section of this document for more specific details on how to calculate your minimum deposit or refer to the online User Manual.

    • Depositing Funds

      You can credit your account in a variety of ways which are detailed below. Please note that due to money laundering regulations enforced by the Financial Conduct Authority, we are unable to accept funds from any other source than the account holders own funds.

      Deposit money by Debit/Credit card

      You can deposit funds securely online or by telephone using a debit or credit card. There is a 2% charge for payments made by credit card. If you did not register a card when you opened your account, you can do so by clicking the Credit My Account button and then Add Card. Alternatively, you can call the Customer Support team on +44 (0)20 7456 7020.

      We accept all major debit and credit cards. We do not accept American Express and some International visa Electron cards.

      As a credit card customer you should be aware of changes to the way some credit card companies charge for online betting transactions. Gambling transactions, which have until now been treated in the same way as any other purchase, will be treated as cash advances by some credit card companies. Cash advances are usually subject to a higher rate of interest than standard transactions, so you should check the terms and conditions of your card carefully

      Registering your card details

      If you enter your card details for the first time but do not make a payment, a pre-authorisation service will temporarily take 0.01p from your bank account and only appear on your bank account for a short time before dropping off. This amount will never actually be removed from your bank.

      After you have registered your card once, you will not need to re-register this card unless your card expires or it is inactive for over 12 months.

      Deposit money via Bank Transfer

      You can deposit funds directly into our bank account by making a bank transfer from a bank account in your name. Please ensure you use your full name and Capital Spreads  account number as a reference. Due to money laundering regulations, we cannot accept cash deposited into our bank account. Any funds credited in this way will not be added to your account and could result in significant delays on any refund. Please be aware that large deposits of cash into our accounts by any client may generate an enquiry to the relevant authorities.

      Some international transfers will incur a fee charged by your bank or ours. Any charges will come out of the amount that you transfer and therefore we will only credit your spread betting account with the funds that we receive. We cannot be held accountable for any bank charges.

      Our bank accounts are held at Barclays Bank, 1 Churchill Place, London, E14 5HP. The details of our bank accounts are below:

      To make a Deposit

      All Currencies share the following details:
      Account Name: London Capital Group T/as Capital Spreads
      Swift Code: BARCGB22
      Sort Code: 20-77-67

      Please check the grid below for the relevant account number and IBAN.

      Deposit Currency Account Number: IBAN:
      Sterling 70721778 GB40 BARC 2077 6770 7217 78
      Euros 69703833 GB90 BARC 2077 6769 7038 33
      US Dollars 75872800 GB76 BARC 2077 6775 8728 00
      Norwegian Kroner 56768744 GB60 BARC 2077 6756 7687 44
      Swedish Kroner 53132388 GB18 BARC 2077 6753 1323 88
      Danish Kroner 47496022 GB55 BARC 2077 6747 4960 22
      South African Rand 62405000 GB83 BARC 2077 6762 4050 00
      Australian Dollars 56768633 GB50 BARC 2077 6756 7686 33
      Hong Kong Dollars 53132299 GB93 BARC 2077 6753 1322 99

      Deposit Funds via cheque

      Please make your cheque payable to London Capital Group and send it to 2nd floor, 6 Devonshire Square, London, EC2M 4AB. We will not credit your account until your cheque has cleared. This usually takes 5 working days.

      Unfortunately, we cannot accept banker’s drafts. If you are going to deposit funds using a building society cheque and it does not have your name on the cheque, we will need to see a receipt stamped by the building society to say that the money from that cheque came from an account in your name.

      Cheques drawn on a bank outside of the UK can take up to 4-6 weeks to clear. Any commission charged by our bank, or yours, for processing an international cheque will come directly out of the funds from the cheque deposited and therefore only the funds credited to our bank account will be credited to your spread betting account.

      Deposit Funds via Skrill

      Skrill is a leading internet payments provider and is authorised and regulated by the UK Financial Conduct Authority. We believe that this service will allow successful account funding at minimal cost to our clients. Skrill is an alternative way to fund your account and a substitute to using either a bank/credit card or making a bank transfer.

      Once you have set up an account with Skrill directly from their website (www.Skrill.com), you will need to choose an amount to deposit in either £,$ or €. You will be asked for the "Recipient Email Address". When requested to do so, please be sure to input one of the following three payment emails, depending on the currency that you have chosen (otherwise your payment will fail):

      a. GBP-payments@capitalspreads.com

      b. EUR-payments@capitalspreads.com

      c. USD-payments@capitalspreads.com

    • Deposit money by debit/credit card

      You can deposit funds securely online or by telephone using a debit or credit card. There is a 2% charge for payments made by credit card. If you did not register a card when you opened your account, you can do so in the Payments section of the trading platform. Click on the Credit My Account button, then Continue and then Add Card. Alternatively, you can call the Customer Support team on +44 (0)20 7456 7020.

      We accept all major debit and credit cards. We do not accept American Express and some International visa Electron cards.

      As a credit card customer you should be aware of changes to the way some credit card companies charge for online trading transactions. Gambling transactions, which have until now been treated in the same way as any other purchase, will be treated as cash advances by some credit card companies. Cash advances are usually subject to a higher rate of interest than standard transactions, so you should check the terms and conditions of your card carefully.

    • Registering your card details

      If you enter your card details for the first time but do not make a payment, a pre-authorisation service will temporarily take 0.01p from your bank account and only appear on your bank account for a short time before dropping off. This amount will never actually be removed from your bank.

      After you have registered your card once, you will not need to re-register this card unless your card expires or it is inactive for over 12 months.

    • Deposit money via bank transfer

      You can deposit funds directly into our bank account by making a bank transfer from a bank account in your name. Please ensure you use your full name and Capital Spreads account number as a reference. Due to money laundering regulations, we cannot accept cash deposited into our bank account. Any funds credited in this way will not be added to your account and could result in significant delays on any refund. Please be aware that large deposits of cash into our accounts by any client may generate an enquiry to the relevant authorities.

      Some international transfers will incur a fee charged by your bank or ours. Any charges will come out of the amount that you transfer and therefore we will only credit your spread betting account with the funds that we receive. We cannot be held accountable for any bank charges.

      Our bank accounts are held at Barclays Bank, 1 Churchill Place, London, E14 5HP. The details of our bank accounts are below:

      All Currencies share the following details:

      Account Name: London Capital Group T/as Capital Spreads

      Swift Code: BARCGB22

      Sort Code: 20-77-67

      Please check the grid below for the relevant account number and IBAN.

      Deposit Currency Account Number: IBAN:
      Sterling 70721778 GB40 BARC 2077 6770 7217 78
      Euros 69703833 GB90 BARC 2077 6769 7038 33
      US Dollars 75872800 GB76 BARC 2077 6775 8728 00
      Norwegian Kroner 79371277 GB88 BARC 2077 6779 3712 77
      Swedish Kroner 57189400 GB78 BARC 2077 6757 1894 00
      Danish Kroner 48500722 GB78 BARC 2077 6748 5007 22
      Hong Kong Dollar 76748655 GB09 BARC 2077 6776 7486 55
      Australian Dollar 63910200 GB64 BARC 2077 6763 9102 00
      SA Rand 45542466 GB86 BARC 2077 6745 5424 66

    • Deposit funds via cheque

      Please make your cheque payable to Capital Spreads and send it to Capital Spreads, 2nd floor, 6 Devonshire Square, London, EC2M 4AB. We will not credit your account until your cheque has cleared. This usually takes 5 working days.

      Unfortunately, we cannot accept banker's drafts. If you are going to deposit funds using a building society cheque and it does not have your name on the cheque, we will need to see a receipt stamped by the building society to say that the money from that cheque came from an account in your name.

      Cheques drawn on a bank outside of the UK can take up to 4-6 weeks to clear. Any commission charged by our bank, or yours, for processing an international cheque will come directly out of the funds from the cheque deposited and therefore only the funds credited to our bank account will be credited to your spread betting account.

    • Are my funds deposited online securely?

      To improve the security of the card payments you make into your spread betting account and following industry standards, we operate Verified by Visa & MasterCard® SecureCodeTM for some card types. These schemes, known collectively as 3D Secure, are designed to improve the way that your card payments are authenticated and to reduce the likelihood of card fraud.

      If you have previously enrolled for these services with your bank and we require your card type to use 3D Secure, you will simply be prompted for your 3D Secure password when you next make a payment into your spread bettingaccount.

      If you have not yet enrolled in Verified by Visa or MasterCard® SecureCodeTM, you may be prompted by your bank to enrol before a payment can be made. This will be done quickly and securely on your bank's website before seamlessly bringing you back to the payment page to continue with your transaction.

      Please be assured that when inputting your 3D Secure details you are communicating directly with your bank via a secure link. The information that you enter is not disclosed to London Capital Group. To complete your payment, you will be briefly redirected to a secure screen hosted by your card issuer.

    • How do I arrange a refund?

      If you would like a refund from your Capital Spreads account, please call us or email us advising us of the amount you wish to receive and confirming the last 4 digits of the card you would like us to refund.

      Our company policy states that any funds deposited must go back to the original source. For example, if you deposited funds using a card we would transfer your funds back to this card. Whilst we will action refunds as quickly as possible and normally the same business day, once the funds leave your Capital Spreads account the banking system usually takes up to 3 - 5 working days to return the funds back into your bank account. In some rare cases the banking system might take longer to process your refund, so if this is the case please contact Customer Support.

      Please note that MasterCard do not accept refunds from gaming organisations. If you deposit funds using a MasterCard we will make refunds to a bank account in your name, or to the default bank account details registered on your spread betting account. It is possible that we may require proof of your Bank Account details to establish that the account is in your name. This should be in the form of an original bank statement dated within the last three months. The statement should include your name, account number and, for international clients, an IBAN or Swift Code. We may also need sight of the card in question via faxed or scanned documentation.

      If you are an international customer and you have used a MasterCard to credit your account or made an international transfer, there is a charge of £20 or the equivalent currency amount for refunds under £1000.00. For UK customers we would refund your money via BACS and this will take three working days with no charge.

      Please note that due to transaction costs, Capital Spreads reserve the right to refuse any refund under £50.00 (or the equivalent currency amount) unless you are closing your account. Please bear this in mind when requesting a refund.

  • Making a Trade

    • How do I place a trade?

      Capital Spreads  provides a variety of products to trade on between the hours of 23:00 on Sunday until 21.15pm on Friday (UK time). You can make your spread trades online or by telephone.

      For guidance on how to trade using the Capital Spreads  online trading platform, please use our online User Manual.

      If you wish to trade by telephone, our dealing line is +44 (0)20 7456 7010. If you have any problems or questions, you can call our Customer Support team on +44 (0)20 7456 7020. Please refer to our Product Information Sheets for specific trading hours of individual products.

    • Will I be trading on the prices I see online?

      Once you’ve clicked the TRADE button you will be offered the option to buy or sell. Once you have made your trade, it will be processed immediately. You should receive confirmation within a couple of seconds, or you will receive a message informing you that the trade has been declined. If the trade is declined, the reason why will also be displayed.

    • What hours can I trade?

      Spread betting
      We are open for trading from Sunday 23:00 until Friday 21:15, UK time. You can find details of the trading hours for individual products if you click on the “I” information button to the right of each product or you can find a full, detailed list of all contract specifications if you click here to see our Market Information Sheets: Market Information

    • What products do you offer?

      We offer a full range of products including Indices, shares, commodities, currencies, bonds and interest rates. You can find full details of the products we offer if you click here to see our Market Information Sheets: Market Information

    • 24 hour Trading

      The Capital Spreads normal trading hours are Sunday 23:00 to Friday 21:15, UK time. So this means that at Capital Spreads trading is available around the clock. However Customer Support hours are 08:00 to 19:00 UK time.

      We quote many of our markets overnight, in particular the FTSE, Wall St, Nikkei and other indices, FX and some commodities. It is possible that you could have any orders filled during the time that we are quoting these markets.

      For full details of the trading hours of our markets please see the Market Information Sheets: Market Information

    • How much margin will the system take when I make my trade and where will the automatic stop loss be placed?

      When making a trade the system will look for three things.

      1) If you only have the minimum funds available then the stop loss will automatically be generated at 80% of the minimum IM (Initial Margin). You can find the minimum IM required for all of our products in the market information.

      2) If you have more funds than the maximum IM required for that market - the system will set the stop loss at 80% of the maximum IM for that product, leaving you with extra funds as available margin.

      E.g. for FTSE Rolling Daily, the maximum IM is 150 so if you were trading £1 a point and you had £200 on your account, the system would only use up £150 as margin and your stop loss would be set 120 points away. In this scenario, you would be left with £50 available margin to make other trades.

      3) If you have more funds on your account than the minimum IM but less than the maximum IM required, the system will take all the funds on the account as margin and the stop loss will be set at 80% of these funds.

    • How much margin will the system take if I move/amend my stop loss?

      You can of course amend the automatic stop that is generated by clicking on "Order Book" and then on the "AMEND" button. Moving your stop loss in closer will free up your margin but the system will always charge you the min IM for that trade regardless of how close you place your stop loss to your entry level. If you move your stop loss further away you will need enough margin to cover the new stop level. This can be calculated by multiplying the amount of points your stop loss is away from your entry level by a further 25%. For example if you have your stop 100 points away from your entry level, you will need £125 to cover the margin required for that particular stop level.

      If you have a Guaranteed Stop Order attached to an open position then the amount of margin taken will be the total capital you have at risk. For example, if you buy £1 per point of the UK 100 Rolling Daily and you have a Guaranteed Stop Order 50 points away, the system will use up only £50 of trading resources.

    • Can I place a Guaranteed Stop Order?

      At Capital Spreads  you can guarantee your automatic Stop Loss by selecting it to be a Guaranteed Stop Order. With a Guaranteed Stop Order you can trade safe in the knowledge that, should a market gap through your stop level, you will not suffer any extra losses from slippage and you will be stopped out at the level you requested.

      But there is a premium and minimum distance for selecting your automatic Stop Loss to be guaranteed. For example, the premium (which is a multiple of your stake) and minimum distance for the UK 100 Rolling Daily is 2 and 30 respectively, so if you bought £5 per point a 5900.0, your account would be debited £10 (2 x £5) and your guaranteed stop would have to be a minimum of 31 points away (the minimum distance is the number specified, plus the market’s spread).

      It is also possible to specify that any stop loss linked to a New Order is a Guaranteed Stop Order. In this case the premium is not applied until the New Order is filled.

      You can place or amend a Guaranteed Stop Order at any time when the underlying market is open and any amend to the level has to be at least the minimum distance (minimum, plus the market’s spread) from the current quote.

      If you close a position that has a Guaranteed Stop Order attached, then the premium is not recredited to your account. To find out what the premiums and minimum distances are please see the Market Information.

    • Can I place a Trailing Stop?

      Trailing Stops are a risk management tool that allow you to manage your risk without restricting your potential profit. They can help you to secure your gains as the market moves in your favour and give you added flexibility as they automatically track your profitable positions. This means you don't have to continuously think about monitoring your position and moving your stop manually.

      A Trailing Stop can be added when placing a trade by ticking the "Trailing" box on the trade ticket. You can also amend an existing stop order to be set to trailing from Order Book by clicking on the AMEND button.

      Once you have ticked the "Trailing" box you need to set the distance you want your Trailing Stop away. If the market then moves in your favour, the Trailing Stop will move in that direction at a set size of increments. For details of the minimum distances and set size of increments applicable to Trailing Stops please refer to the order section of the trade ticket.

      Please note that Trailing Stops are not guaranteed so you may still be subject to slippage in volatile market conditions, so it is not possible to have both a Trailing Stop and a guaranteed stop. There are no extra charges for selecting your stop order to be trailing.

      Trailing stops are not available on all markets, please check on the order section of the trade ticket.

      Example of a Trailing Stop

      Here is an example of how one might use a Trailing Stop. Buy £10 per point of GBP/USD Rolling Daily at 1.6050. The level of the stop order is set at 1.6030 and the "Trailing" box is ticked. If the market moves in your favour (higher) then the Trailing Stop will move in that direction according to the set size of increments applicable to that market. If it is set to increments of 10 points (you can find this out from the Market Information Sheets), then if your GBP/USD Rolling Daily position moves higher by 10 points (to 1.6060), your Trailing Stop will jump up 10 points to 1.6040.

      If GBP/USD Rolling Daily continues to rally without retracing, then for every 10 points it rises, your Trailing Stop will carry on stepping higher in increments of 10 points.

      If at some point GBP/USD Rolling Daily does turn lower, then your Trailing Stop will remain in place at the last level it has stepped to, acting as a normal stop order.

  • Closing a trade

    • How do I close my trade?

      Your trade is valid until our market expiry time. Please see our Market Information Sheets for last dealing times and settlement details of individual markets.

      If you decide to close your position before it expires, you can close it manually in one of two ways. The simplest way is to click on the “Open Positions” button to view your open trade. You will see a CLOSE button on the right hand side. If you click this button, you will only be given one option either a buy or a sell i.e. an equal and opposite trade.

      Alternatively, you can close your position by finding the original product that you traded, entering an equal stake size and then making a trade in the opposite direction. For example if you make a £5 buy to open, you will need to make a £5 sell to close.

      Your bet may also be closed if your automatic Stop-Level is hit or Limit Order is executed.

      Any profits/losses incurred are realised upon the bet closure. Please refer to the online User Manual for guidance on how to manually close a bet .

    • Can I partially close my position?

      Yes, you can partially close a position. Please refer to the online User Manual for further details.

  • Managing your Positions

    • What happens when a share goes ex-dividend?

      The morning after a share goes ex-div the price of the share will drop by the amount of the dividend (approximately). If a quarterly contract discounts the dividend, it will have already been removed from the price quoted, so there will be no effect on the price quoted between the day before ex-div and the day after it.

      Capital Spreads do not discount the dividend for Rolling Daily or Quarterly contracts as part of the price. In respect of declared dividends, a cash adjustment will be made with reference to any dividend or distribution attributable to any relevant security on which a trade is based, and shall be made and calculated as follows:
      a. where your Position would result in a credit to your account (for example a Buy position in an equity which goes ex-dividend) we shall adjust the account balance in your favour by the gross dividend adjusted with applicable haircut percentage of Gross dividend (Standard adjustment for UK shares is 80% of Gross dividend), and multiplied by the Transaction Size; or

      b. where your Position would result in a debit to your account (for example a Sell position in an equity which goes ex-dividend) we shall adjust the account balance in our favour by the gross dividend adjusted by the applicable haircut percentage(Standard charge for UK shares is 100% of Gross dividend), and multiplied by the Transaction Size.

      For example, if Lloyds bank goes ex-div with a declared dividend of 7.5p, a client who was long (buy) position of £10 a point would receive £10x7.5x80% or £60. A client who was short the same amount (i.e. £10 a point) in Lloyds would be debited with £75 (£10x7.5x100%)

      UK shares usually trade ex-div on the Wednesday morning if paying a dividend, and ceteris paribus, the value of these shares will go down by the dividend amount. This has a direct affect on any of the indices the particular share may be a constituent of. Although most shares go ex-div on Tuesday evening there will be exceptions when companies may make payments (whether dividend, return of capital etc) on days other than this. In these cases the relevant amendment will be made on the day on or a day before the effective date.

      In the case of Rolling Daily contracts on the indices, Capital Spreads will make a dividend adjustment to clients' accounts the day on which or before the index constituents’ trade ex-dividend. We will credit clients who have long (buy) positions and debit clients with short (sell) positions. Haircuts (due to charges on gross amounts due to tax, clearing charges etc.) may be applied to cash adjustments.

    • How are the Daily UK 100 and Wall Street prices calculated?

      This is a common question for spread betting companies as it does cause some confusion with clients.

      All major indices quoted by Capital Spreads  have a Futures market related to them (i.e. the UK 100 has the LIFFE FTSE Futures market). This Future trades at a price which reflects the underlying market plus some adjustments. These adjustments are calculated from the theoretical value of dividends payable between today and the expiry of the Future AND the cost of carry for the index over the same period.

      This Adjustment is called the 'Fair Value'. Capital Spreads  will adjust the Daily Cash price of each index by it's own Fair Value number each day. Capital Spreads  links the Rolling Daily quote to the relevant future concerned and offsets the quote by the current Fair Value. Therefore the Rolling Daily price is moved by the Futures price and not vice versa, this is because the underlying cash price is a lagging market indicator which does not react in a timely manner to market moving news.

      For UK shares we price our bid using the underlying market bid and the offer from the underlying market offer. Capital Spreads 's spread is then added around the underlying market bid/offer to create ‘our quote’. On a day to day basis the difference between our bid and the underlying market bid will remain the same as will the difference between the offer prices. If the underlying market bid/ask spread widens/narrows then our quote will widen/narrow with it.

      We derive the future individual share prices (quarterly markets) by taking the underlying market price and adding the cost of carry from the trade date until the expiry date and removing any dividends/capital repayments on those shares which go ex-div/make payments between the trade date and the expiry date.

    • How do we derive our FX prices?

      We subscribe to a data feed which gives us the best bid and offer in the market from several major banks in any given currency pair. The best bid might be from one bank, and the best ask might be from another bank. We take the best of each (i.e. the highest bid and the lowest offer) and put our spread (which remains fixed) around this spread.

    • Why are the prices I can see different to yours?

      There is no single exchange on which all FX trades are transacted, and so there is never a single price at which you can say that a given currency pair is trading. Bank “A” might sell cable to Bank “B” at 1.7750, whilst at exactly the same time Bank “C” might sell cable to Bank “D” at 1.7755. Bank “A” may record its trades to a database to which Data Vendor “X” has access, whilst Bank “C” might record its trades on a separate database to which Data Vendor “Y” has access. For this reason, it is highly possible for 2 different data vendors to be showing 2 different prices at exactly the same time in the same currency pair.

    • On the FX, do we round up if the spread is 3?

      No. If the market spread is 1, we add one to each side so that our spread is 3. And even if we did, the net result is irrelevant. Say, for example, we rounded up on a 3-tick spread. If you went long you'd pay that extra half a tick on the way in, but you'd gain it on the way out. Whether we rounded up or down, the spread is still 3 ticks! Plus, you are still exposed to the same currency price movements - if cable rallies 10 ticks, you will make 10 ticks whether the price you traded at was rounded up or down.

    • How does fractional pip pricing work?

      We have improved the way we price FX pairs to greater reflect the underlying interbank market by adding an extra integer to many of the quotes.

      The reason for doing this is to make our FX prices more accurate and thus give you a better and more accurate price to trade on.

      How will this work?

      On some trade tickets the very last number in the price may be a smaller digit. This smaller digit is not the actual tick size of the price, but simply an extra integer i.e. 1/10th of a point. Therefore, as a general rule, you will be trading on the last large figure of the price quoted, as you were before, but with the additional benefit of seeing an extra (smaller) digit for greater accuracy.

      If we take an FX market such as GBP/USD, for example.  Rather than quoting this market to four decimal places as a price of 1.5850-1.5852, we have added a smaller integer to make the quote five decimal places.  In the example below, if you bought £1 per point of GBP/USD Rolling Daily at 1.58505and sold £1 to close at 1.58510, your profit would be 50p.

      The extra digit has been applied to FX markets only at this time.

      The benefit to you

      Prior to us making this change, the buy price was rounded to the last tradable digit. Now, with the additional decimal place, you will see and be able to trade on a more accurate price.

      Our spreads remain some of the tightest in the industry and what’s more, our spreads are tighter for longer.  So, when we say we have a 1 point spread on EUR/USD we’ll quote a rate with a 1 point spread 24 hours a day.*

      *LCG has the right to vary Overnight Financing interest rates, spreads or commission rates on any contract or vary the Size specifications without notice especially in, but not limited to, volatile market conditions and/or illiquidity of the Underlying Market. At LCG's discretion quoted spreads made via the telephone may differ from the spreads available on an OTP or a DTP.

  • Overnight financing

    • What is a Rolling Daily contract?

      Our innovative Rolling Daily contracts provide a cost-effective solution for short-medium term trading. These contracts do not expire at the end of the day but are automatically ‘rolled over’ to the next trading day.

      Any corresponding orders are also rolled over automatically. An overnight financing rate is applied on a daily basis.

      The standard benefits of spread betting still apply, such as the ability to go long or short and tax free profits, as well as other benefits.

    • Advantages

      Tighter spreads

      Available on indices, equities and FX markets

      Cost-effective solution for short-medium term trading

      Potential payment due to overnight financing

      Automatic order rollover facility

      Familiarity of trading underlying market but with benefits of futures-style trading

    • Overnight financing

      Rolling Daily contracts incur a debit or credit for each day that they are held overnight.

      Whilst it is normal for equity and index long positions to incur a debit and for short positions to receive a credit when overnight financing is applied, there are times when you may be debited for a short position, for example when interest rates are very low (NB overnight financing for FX positions is different).

      For a position held on a Friday or prior to a Capital Spreads non-business day, financing will be applied according to the number of days until the subsequent Capital Spreads business day.

      For example, for a position that is rolled from a Friday to a Monday, financing will be applied for 3 days. Any profits/losses are realised when the position is closed.

    • How is the financing calculated?

      The overnight financing for a rolling position can be calculated using this formula:

      F = [ (P / U) x S x I] / B
      F = Overnight Financing
      P = Closing price
      U = Unit risk
      S = Size or Stake
      B = day basis (365)
      I = applicable interest rate: long positions: RFR + 2.5%
      short positions: RFR - 2.5%

    • Relevant Funding Rate (RFR):

      Shares & Indices: The RFR is generally equivalent to the base rate of the underlying currency of the country of the market concerned. If you are long of a share/index contract, this equates to real market cash exposure and so interest may be charged on this cash value for each day that the position is held open overnight. If you are short of a share/index contract, an interest return may be paid on these equivalent cash funds.

      E.g. the RFR for a short rolling daily contract on Google may be based on the US Fed Funds Rate minus 2.5%

      Currencies: The RFR is calculated as the funding rate corresponding to the 2nd currency minus the funding rate corresponding to the 1st currency. E.g. the 1st currency of GBP/USD is sterling and the second is the US dollar. Therefore, if USD rates were 2.75% and GBP rates were 5.5% then the RFR for GBP/USD would be 2.75% - 5.5% or minus 2.25% (a negative differential)

      For example, if the funding rates were as follows:

      GBP:5.5%EUR:2.5%USD:2.75%

      The rates used for the examples above are indicative and are not necessarily representative of correct rates. The RFR of the following currency pairs would therefore be calculated as:

      FX PairRFR 
      EUR/GBP3%(5.5% - 2.5%)
      GBP/EUR- 3%(2.5% - 5.5%)
      EUR/USD0%(2.75% - 2.5%)

      Note: Remember to add 2.5% to the RFR for long positions and minus 2.5% for short positions

      Unit risk:

      The smallest movement on the relevant contract that equates to a profit/loss change that is the same as your stake. E.g. on GBP/USD a movement of 0.0001 in the price would mean a profit /loss shift on your trade of the full stake and so the unit risk would be 0.0001.

       

    • Overnight financing examples for Spread Betting

      1. Shares

      UK Shares

      BUY £8 per point of a Rolling Daily

      Unit risk1(5.5% + 2.5%)
      Applicable interest rate8%
      Closing price550.10p

      A £8 long position which has a closing price of 550.10p would be equal to £5,501 (£4,400.8) market exposure (this equates your trade to the number of shares you would have to buy from your stockbroker to create the same market risk, a £8 trade = 800 UK shares).

      (550.10 / 1) x 8 x 8% = £352.06

      This is the annual cost of borrowing £4,400.8 at 8%.

      Divide this by 365 to reach the daily charge:
      £352.06 / 365 = £0.96

      As you are long of a share, your account would be debited £0.96 for the overnight funding.

      US Shares

      Unit risk0.01(2.75% + 2.5 %)
      Applicable interest rate5.25%
      Closing price$32.29

      [(32.29 / 0.01) x 8 x 5.25%] / 365 = £3.71
      Your account would be debited £3.71 for the overnight financing.

      2. Indices

      UK Indices

       

      SELL £5 of UK 100 Rolling Daily

       

      Unit risk1(5.5% - 2.5%)
      Applicable interest rate3%
      Closing price5820

      [(5820 / 1) x 5 x 3%] / 365 = £2.39
      Your account would be credited £2.39 as overnight financing.

      US Indices

      BUY £1 of Wall Street Rolling Daily

      Unit risk1(2.75% + 2.5%)
      Applicable interest rate5.25%
      Closing price13005

      [(13005 / 1) x 1 x 5.25%] /365 = £1.87
      You are debited £1.87 for holding this position overnight.

      3. Currencies

       

      BUY £12 of GBP/USD Rolling Daily

      Unit risk0.0001(2.75% - 5.5% + 2.5%)
      Applicable interest rate- 0.25%
      Closing price1.5250

      [(1.5250 / 0.0001) x 12 x -0.25%] / 365= -0.10
      Your account would be credited £0.10 as overnight financing.

      Normally, for a buy position you would be charged the overnight financing but because this calculation has returned a negative number, you will actually receive this amount.

       

      SELL £6 of GBP/USD Rolling Daily

      Unit risk0.0001(2.75% - 5.5% - 2.5%)
      Applicable interest rate- 5.25%
      Closing price1.9250

      [(1.9250 / 0.0001) x 6 x -5.25%] / 365 = -16.61
      Your account would be debited £16.61 as overnight financing.

      Please note that as with the previous example of a long position, this has returned a negative number but in this case, as this is a sell position, instead of you receiving the money you will be paying it.

      The rates used for the examples above are indicative and are not necessarily representative of correct rates.

       

    • Overnight financing examples for CFDs

      1. Indices

      UK Indices

      SELL 10 CFDs of UK 100 Cash CFD

      Unit risk1(0.5% - 2.5%)
      Applicable interest rate- 2.0%
      Closing price4722

      [4722 x 10 x -2%] / 365 = - £2.59
      Please note that as this has returned a negative value, your account would be debited rather than credited with £2.59 as overnight financing..

      US Indices

      BUY 1 CFD of Wall Street Cash CFD

      Unit risk1(1.0% + 2.5%)
      Applicable interest rate3.5%
      Closing price10350

      [10350 x 1 x 3.5%] / 365 = $0.99
      Your account would be debited $0.99 for holding this position overnight.

      2. Currencies

      BUY 1 CFD of GBP/USD spot CFD

      Unit risk0.0001(1.0% - 0.5% + 2.5%)
      Applicable interest rate3.0% 
      Closing price1.8550

      [(1.8550 / 0.0001) x 1 x 3.0%] / 365= 1.52
      Your account would be debited $1.52 as overnight financing.

       

      SELL 5 CFDs of GBP/USD spot CFD

      Unit risk0.0001(1.0% - 0.5% - 2.5%)
      Applicable interest rate- 2.0%
      Closing price1.8550

      [(1.8550 / 0.0001) x 5 x -2.0%] / 365 = -5.08
      Your account would be debited $5.08 as overnight financing.

      Please note that as this has returned a negative number but this is a sell position, instead of you receiving the money you will be paying it.

      The rates used for the examples above are indicative and are not necessarily representative of correct rates.

      LCG has the right to vary Overnight Financing interest rates, spreads or commission rates on any contract or vary the Size specifications without notice especially in, but not limited to, volatile market conditions and/or illiquidity of the Underlying Market. At LCG's discretion quoted spreads made via the telephone may differ from the spreads available on an OTP or a DTP.

       

    • Can I roll over my future contract positions?

      Capital Spreads also offers the facility to rollover futures contracts. If you chose to roll any quarterly or monthly contracts, you will need to contact us shortly before our expiry date to leave a rollover instruction. For equities, Capital Spreads will close the existing trade spread free (at just the market price) and offer the subsequent quarter at half of the spread. For indices, commodities and Forex contracts, Capital Spreads will close the trade at our midpoint and offer the subsequent quarter at the corresponding level. Please note that on rollover of futures contracts, the existing trade is closed, realising any profits or losses incurred and a new position is subsequently opened.

  • Managing Your Account

    • How can I view my previous trades?

      You can see details of the trades that you have made and that have been settled if you click on the Trade History section of your account.

      This information will be held on your account for 3 months. If you require further details of all the trades you have made, please contact Customer Support at support@capitalspreads.com

    • How can I view my Open Positions?

      Details of any open positions can be found if you click on Open Positions. If you have more than one trade in the same product, please click the "I" button and this will give you a detailed breakdown of your position in this product.

      The automatic stop-loss order that is linked to your open position can be found if you click on the Order Book button. This section also holds details of any new orders or limit orders.

    • How do I change my contact info?

      If a problem occurs on your account, it is important for us to be able to contact you. Please ensure that your email address is always up to date and, if necessary, please check to ensure that your inbox has not exceeded its limit. We send all contract notes via email and it is your responsibility to provide us with the correct contact details. Your contract notes are proof of the trades that you have made and if you have any kind of query we will ask you for copies of your contract notes.

      If you move house, please contact Customer Support by email or telephone to advise us of your new address. If we are unable to confirm your new address electronically we will require some documentation, details of which will be provided at the time.

    • How do I change my password?

      If you wish to change your password, please call us and we will conduct a security check to confirm your identity and then generate an email with a temporary password. You can use this to log into your account and can then change your password to something more memorable. Your password will then be securely encrypted in our system.

    • I've forgotten my username/password

      If you have forgotten your username or password, please call us or if you are unable to do so, please email us. We will send you some information that will remind you of your username or password. We are unable to send passwords via email for security reasons.

    • How do I monitor my account?

      Log into your account and click on Account Summary. You will see details of the most recent closing trades you have conducted and details of any profit/loss.

    • Do I get a contract note?

      You will receive a contract note via email for each trade you make whether you trade online or by telephone.

    • Will I receive a statement?

      You can view your statement of account online once you have logged into your account.

  • Other Questions

    • What are the differences between spread betting and CFD trading?

      Below is a table of the major differences between spread betting and CFDs:

      Spread betting CFD trading
      Capital gains are tax free* Subject to Capital Gains Tax (CGT)*
      Losses cannot be offset for CGT purposes* Losses can be offset for CGT purposes*
      All contracts expire** No expiry (except future contracts)
      Use a currency to trade in of your choice Currency based in country of origin i.e. if you trade Vodafone on the FTSE, you trade in £.  If you trade Google on NYSE, you trade in $
      Trade using a stake of £/$/€ etc per point Trade a number of CFDs per point

      * Under current UK law, which is subject to change and may differ in jurisdictions outside the UK.

      ** for gaming purposes even rolling contracts have a theoretical expiry date but this is many years in the future.

      We do not charge any commission or minimum commission for CFD trading, but instead we apply a spread across all our markets (equities included*), as detailed in the Market Information.

      *with the exception of Australian equities.

       

    • What type of PC supports your site?

      Most modern PCs will run our interface successfully, but in order to achieve the best performance we recommend that you have at least 1.8 GHz Pentium IV (or equivalent) processor with 512MB of RAM. Other programs installed and running could affect the performance of the website.

    • Is my software compatible with the website?

      We support PC platforms Windows 2000, XP and Vista. We also support Apple Mac platforms.

    • What facilities do I need to view the website?

      The Capital Spreads  trading platform is available via HTML (the Internet) and therefore you do not need to download any additional software onto your computer. As a general rule, we design our systems to work with most browsers on any system with any ISP (Internet Service Provider) broadband connection.

      You may need to upgrade some of the existing software on your machine, and the information below will guide you through this process. If you have any questions, please call our Customer Support team us on +44 (0)20 7456 7020 and we will be pleased to help.

    • How can I view your Live Prices?

      The site requires Flash 9 or later. If you are unsure that you have Flash, or wish to check you have the latest version, you can download the latest version here: http://www.macromedia.com/support/flash/ts/documents/test_version.htm

    • What do I need to do to view your Charts?

      If you wish to see our charts on the trading platform, you will need Adobe Flash. You can download the latest version of here: http://get.adobe.com/flashplayer/

    • Which Internet browser should I use?

      You can access the Capital Spreads  website using the latest versions of website browser, including Internet Explorer, Firefox and Safari.

      However, if you attempt to access our site using an AOL browser, it is possible that you may experience problems logging into our site. We would recommend that you use one of the following browser connections, which are available free of charge.

      You can download the latest versions of these browsers at the following URLs:

      http://www.microsoft.com/windows/ie/default.asp - Internet Explorer

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      https://www.google.com/chrome - Chrome

    • Do I need to adjust my monitor/screen settings?

      You will get the best results from our site if you set your screen resolution to a minimum of 1024 x 768 pixels. If you require assistance in doing this, please call our support team on +44 (0)20 7456 7020, and they will be happy to help.

    • Can I trade using an Apple Mac?

      Our site is fully compatible with the Apple Mac. However, if you do experience problems with our website, we recommend upgrading to the latest version of Internet Explorer for Mac. Please be aware that, although Microsoft may continue to provide security and performance updates to the Internet Explorer for Mac, no major new releases are planned.

      If you find that Internet Explorer for Mac does not work properly, please try using Apple's new Safari Browser: http://www.apple.com/safari/download/

    • What about cookies?

      Our interface uses Session Cookies, and these must be enabled before you can log in. "Cookies" are small amounts of data that a website can send to your web browser and store on your computer. Cookies do not contain personal information about you (unless you knowingly provide it). We use cookies to enhance navigation and the functionality of our website to securely verify your identity.

      Please follow the instructions below to allow your browser to accept Session Cookies. If you have any questions, please call us on +44 (0)20 7456 7020.

    • How do I amend my cookie settings?

      Depending on which browser you use, follow one of the appropriate set of instructions below:

      Internet Explorer 7
      Select ‘Internet Options’ from the ‘Tools’ menu and then select the ‘Privacy’ tab. Finally, choose ‘Accept’/‘Prompt’ for ‘First-party Cookies’ and tick the ‘Always allow session cookies’ box.

      Internet Explorer 8
      Select ‘Internet Options’ from the ‘Tools’ menu and then select the ‘Privacy’ tab. Finally, move the slider to the ‘Medium’/‘Low’/‘Accept All Cookies’ level.

      Firefox
      Select ‘Options’ from the ‘Tools’ menu and then select ‘Privacy’. Finally, expand the ‘Cookies’ heading and tick the box for 'Allow Cookies'.

      Safari
      Select the Tools button on the top-right hand corner of the browser, then select ‘Preferences’. Finally, select the ‘Security’ button, and then from the ‘Accept cookies’ section, choose ‘Always’/‘Only from sites I visit’.

      Google Chrome
      Click on the "cog" icon to open the toolbar, then click on "Settings" followed by "Under the Hood/Bonnet" tab. Then click on "Content Settings" in the "Privacy" section. Finally you will see the "Cookies" tab within the "Content Settings" with the relevant options.

      Note: To find out which version of Internet Explorer you are using, click ‘Help’ and then ‘About Internet Explorer’ on your browser menu.

    • Firewalls

      Although we have taken care to design the site to be compatible with the most popular firewall vendors, it is quite possible that specific firewall settings or configuration could limit your experience of the Capital Spreads  website. If you are using a firewall and are not sure whether it is the cause of your problem, please email us with details of the type of firewall that you have. As a simple test, you could shut down your firewall for a few seconds while you reload the Capital Spreads  site.

      If you are still experiencing trouble, it is most likely that your firewall is not the root cause. If the problem is no longer evident, your firewall is most likely blocking/changing certain content. In this case, it would be a good idea to contact your firewall vendor for support.

    • How secure is your website?

      The Capital Spreads website is protected by a Thawte verified certificate. This means that any information that you provide is protected by a secure certificate provider, thus ensuring the security of the site. More information regarding Thawte can be viewed here.

Risk warning: Spread betting, FX and CFD trading carries a high level of risk to your capital and you can lose more than your initial deposit. These trading products may not be suitable for all investors so seek independent advice. View full risk warning