Stocks

Trading Conditions

Stocks

Trade CFD on stocks from the world leading stock exchanges with low commissions and margin requirements, allowing you leverage starting from 1 to 10. When trading CFD on stocks you have the opportunity to profit from growing and falling markets, whilst entering long and short positions. The opportunity to use leverage enables you to profit even from the smallest market movements.

Terms and conditions for trading CFD on stocks

The minimum trading volume is 1 share (1 lot) with no minimum commisions. You can find complete list with the offered stock CFDs in MetaTrader 4/5, as well as their margin requirements and commissions, in the table below:

Name Code in MetaTrader Currency Margin requirment Commission*
US stocks
Alcoa Corp. #Alcoa USD 10% 0.05/share
Apple Inc. #Apple USD 10% 0.05/share
Amazon.com Inc. #Amazon USD 10% 0.05/share
Alibaba Group Holding Ltd. #Alibaba USD 10% 0.05/share
Citigroup Inc. #Citigroup USD 10% 0.05/share
Coca Cola Ent. #CocaCola USD 10% 0.05/share
Facebook Inc. #Facebook USD 10% 0.05/share
General Electric Co. #GenElec USD 10% 0.05/share
General Motors Co. #GenMotors USD 10% 0.05/share
Google Class C #Google USD 10% 0.05/share
International Business Machines Co. #IBM USD 10% 0.05/share
McDonald's Corp. #McDonalds USD 10% 0.05/share
Microsoft Corp. #Microsoft USD 10% 0.05/share
Pfizer Inc. #Pfizer USD 10% 0.05/share
AT&T Inc. #AT&T USD 10% 0.05/share
Tesla Inc. #TeslaMotor USD 10% 0.05/share
Twitter Inc. #Twitter USD 10% 0.05/share
Visa Inc. #Visa USD 10% 0.05/share
Exxon Mobil Corp. #ExxonMobil USD 10% 0.05/share
Yahoo Inc. #Yahoo USD 10% 0.05/share
HP inc. #HPackard USD 10% 0.05/share
JPMorgan Chase & Co. #JPMorgan USD 10% 0.05/share
Goldman Sachs Group #GoldmSachs USD 10% 0.05/share
American International Group Inc. #AIG USD 10% 0.05/share
Bank Of America #BofAmerica USD 10% 0.05/share
Ford Motor Co. #Ford USD 10% 0.05/share
FedEx Corp. #FedEx USD 10% 0.05/share
Ferrari NV #Ferrari USD 20% 0.05/share
Intel Corp. #Intel USD 10% 0.05/share
Johnson & Jonhnson #J&J USD 10% 0.05/share
Procter & Gamble Co. #P&G USD 10% 0.05/share
Cisco Systems Inc. #Cisco USD 10% 0.05/share
Chevron Corp. #Chevron USD 10% 0.05/share
eBay Inc. #E.bay USD 10% 0.05/share
Oracle Corp. #Oracle USD 10% 0.05/share
3M Co #3M USD 10% 0.05/share
American Express Co. #AmericanEx USD 10% 0.05/share
Baidu Inc. #Baidu USD 10% 0.05/share
Boeing Company Co. #Boeing USD 10% 0.05/share
Caterpillar Inc. #Caterpilar USD 10% 0.05/share
China Mobile Ltd. #ChinaMobil USD 10% 0.05/share
Walt Disney Co. #Disney USD 10% 0.05/share
Mondelez International Inc. #Mondelez USD 10% 0.05/share
Petroleo Brasileiro Petrobras #PetroleoBr USD 10% 0.05/share
Sony Corp. #Sony USD 10% 0.05/share
United Parcel Service Inc. #U.P.S USD 10% 0.05/share
United Technologies Corp. #UnitedTech USD 10% 0.05/share
Verizon Inc. #Verizon USD 10% 0.05/share
Wal-Mart Stores Inc. #Walmart USD 10% 0.05/share
YUM! Brands Inc. #YumFoods USD 10% 0.05/share
Adobe Inc. #Adobe USD 10% 0.05/share
Colgate-Palmolive Corp. #Colg-Palm USD 10% 0.05/share
Comcast Corp. #Comcast USD 10% 0.05/share
Home Depot Inc. #HomeDepot USD 10% 0.05/share
Morgan Stanley #M.Stanley USD 10% 0.05/share
MasterCard Inc. #Mastercard USD 10% 0.05/share
Netflix Inc. #Netflix USD 10% 0.05/share
NVidia Corp. #Nvidia USD 10% 0.05/share
Qualcomm Inc. #Qualcomm USD 10% 0.05/share
Wells Fargo & Co. #WellFargo USD 10% 0.05/share
European stocks
Bayer AG #Bayer EUR 10% 0.10%
Deutsche Bank AG #DeutscBank EUR 10% 0.10%
Volkswagen AG #Volkswagen EUR 10% 0.10%
BMW AG #B.M.W EUR 10% 0.10%
BNP Paribas #BNPParibas EUR 10% 0.10%
Societe Generale #SocGeneral EUR 10% 0.10%
Commerzbank AG #Commerzbnk EUR 10% 0.10%
Deutsche Post AG #DeutscPost EUR 10% 0.10%
Daimler AG #Daimler EUR 10% 0.10%
Total Gabon #Total EUR 10% 0.10%
Siemens AG #Siemens EUR 10% 0.10%
Deutsche Lufthansa AG #Lufthansa EUR 10% 0.10%
E.On SE #E.ON EUR 10% 0.10%
Allianz AG #Allianz EUR 10% 0.10%
Adidas AG #Adidas EUR 10% 0.10%
Novartis AG #Novartis EUR 10% 0.10%
Airbus SE #AirbusGr EUR 10% 0.10%
Credit Agricole SA #CrAgricole EUR 10% 0.10%
BASF SE #BASFN EUR 10% 0.10%
Renault SA #Renault EUR 10% 0.10%

*Commission is payed for every deal made - for opening and closing a position. The commssion charged is in the account currency.

Trading hours

The trading hours of stock CFDs depend on the working hours of the exchange, on which it is being offered. Below you can find a list with the working hours of the exchanges:

Exchange Working hours
New York Stock Exchange 14:30 - 21:00
NYSE ARCA 14:30 - 21:00
NASDAQ 14:30 - 21:00
Deutsche Börse 08:00 - 16:30
Euronext Paris 08:00 - 16:30

Quotes in real time

The quotes offered in MetaTrader 4/5 platforms, are in real time and they are completely free for clients of Benchmark.

Interest on CFD on stocks

For positions in CFDs on stocks, left open for each new working day, an interest is charged, depending on the type of the position. The interest is charged from the account if the client leaves a position open for the next exchange session:

  • Regarding long position in CFD, an interest is owed, based on Inter-Bank Offer Rate for the currency in which the stock is traded, plus markup of around 2.5% (LIBOR + 2.5%);
  • Regarding short position in CFD, an interest is received*, based on Inter-Bank Offer Rate for the currency in which the stock is traded, minus markup of around 2.5% (LIBOR – 2.5%).

If you open and close a position in CFD on stock in the same trading session, the position is not subjected to the aforementioned debits.

*If Inter-Bank Offer Rate for the currency, in which the stock on CFD is traded, minus the 2.5% markup, gives a negative value, interest for short CFD positions will be charged.

Dividends and other corporate actions when trading CFD on stocks

Dividends are received from a client account, if he has long position in stock CFD where the issuer of the stock pays dividend. The dividend payment is made on the "Ex dividend" date. Clients with short positions in stock CFDs with a dividend payment, have to pay this dividend and the required amount will be debited from their accounts.

In MetaTrader 4/5, the dividend corrections are credited/debited together with the daily interest in the Swap column in the platform. The exact amount of the swap that will be applied in the end of the trading session, can be found in the MetaTrader 4/5 platforms. To see the exact amount, you have to click with the right button of the mouse in Market watch. From the context menu, choose Symbols then you need to find the instrument you are looking for and open it (in the MT4 platform, you need to click Settings in the instrument menu). Please bear in mind that the swap numbers are shown in the account currency and they are applied for 1 lot (1 share).

Important: The margin requirements for stock CFDs with upcoming financial report and/or corporate event can be increased up to 5 times from the standard levels. BenchMark reserves the right to keep the higher margin rates several days after the corporate event, depending on the market conditions with the stock.

Accrual of dividends on CFD on stocks

If you have an opened position in stock CFD where the issuer of the stock pays dividends, at the beginning of the trading day that coincides with the "Ex dividend" date, a dividend will be applied to your account. If you have long position, you will receive the net amount of the dividend. If you have short position, you will be charged the gross amount of the dividend. The exact amount of the dividend is shown in Swap column in the platform, together with the daily interest. The actual value that will be credited/debited at the begging of the "Ex dividend" date, will be available in the MetaTrader 4/5 platforms after 17:00 GMT on the previous day.

The accrual of dividends in CFDs on equities in the MetaTrader platform is perform as follows:

  • For long positions - The Net amount of the dividend is credited to the client's account and is added in the Swap column. This amount is equal to the dividend that the issuer has payed, reduced with the tax due. Please notice that the tax on dividends might be different for every country;
  • For short position - The Gross amount of the dividend is debited from the client's account and is added in the Swap column.

On the "Ex dividend" date, the stock starts trading without the right for receiving a dividend. This circumstance is reflected in the price of the respective share.

Split/Reverse Split on CFDs on stocks

Since there is no effect on the market value of the company, the split is reflected in the stock price in the ratio announced by the issuer.

Example: A client has 100 shares in Apple, opened at 180 USD per share. The current market price of Apple is 200 USD per share so the current P/L is 2 000 USD (without commissions or interest applied). Apple announces a split in 1 to 2 ratio. The current position of a client will be closed with zero P/L. Instead, the client will receive new position with 200 shares of Apple with an opening price of 90 USD (180/2). Since the market value of Apple will be left unchanged, it will be 100 USD (200/2) and the current P/L of the client will remain 2 000 USD (without commissions or interests applied).

Important: When a Split or Reverse Split is announced, all working pending orders for this particular CFD on stock will be removed.

Issue of Rights on CFD on stocks

If an issuer announces stock rights, a client holding CFD on stock will not be able to exercise any rights in the MetaTrader platforms.

Short selling CFD on stocks

Short selling CFD on stocks is done by the rules of the respective exchange. For example, in a short sell of CFD on stocks, you can be forced to close your position, in case the traded by you CFD is being recalled.

That can happen, if the borrowing of the base stock is limited, because of corporate actions, like acquisitions, dividends, rights and other actions of stock restructuring.

Important: If the issuer of the stock announces that the stock will be delisted from the exchange it is being traded, this will mean that the trading with the shares will be terminated. If a client of BenchMark has a position in such stock, he will have to close it. If on the last trading day the client positions are still opened, BenchMark will close the positions at the closing price on the last trading day.