Contract Specification
Margin Call level - 100% A warning on margin level indicator (Equity/Margin*100%) approaching Stop Out value.
Stop Out level — 20% An automatic order that forcefully closes open positions when margin level (equity/margin*100%) reaches a specified value.
For sell positions: Please consider the following calculations: Swap Short value is +2.7% per annum (this is the rate you will be paid on short positions), so if you short AAA (worth R1,000) you will be paid 1,000 x 2.7% / 365 for each day you hold this position.
For buy positions: Please consider the following calculations: Swap Long is -5.97% per annum (this is the rate you will pay on long positions), so if you are in long for AAA (worth R1,000) you will be charged a fee of 1,000 x 5.97% / 365 for each day you hold this position.
The swap is debited / credited on a daily basis. It is rolled over to the following day from the end of the trading session until 00:01 the following day.
For JSE Shares CFDs from Friday to Monday, a triple swap is debited / credited (per night from Friday to Saturday, from Saturday to Sunday, from Sunday to Monday).
For US Shares CFDs, Currency CFDs and Metal CFDs a triple swap is debited Wednesday to Thursday overnight. They are debited for the same period from Friday to Saturday, from Saturday to Sunday and from Sunday to Monday but two days prior because of the settlement date (T+2) applicable when operating with foreign contracts. Note that from Friday to Monday only a single swap is debited.
The swap does not apply to Investment accounts and is credited on/debited off the account with an enabled Margin trading mode.
For JSE Shares CFDs, a dividend adjustment is applied on positions that remain open at the end of the trading session on the Last Trade Date: for open long positions (buying), dividends are credited on the Pay Date, and for open short positions, dividends are debited on the Last Trade Date, at the end of the trading day.
Dividends are not applicable for US Shares CFDs. It means that there will be no dividends deposited to an account for open long positions and no dividends will be withdrawn from an account for short positions. Herewith, the rollover of open short positions through the Dividend Ex Date is impossible. These short positions will be forcefully closed without a prior notice at the last available market price prior to Dividend Ex Date.
BCS Markets SA (Pty) Ltd. is an authorized Financial Service Provider and is regulated by the South African Financial Sector Conduct Authority (FSP No.51404). BCS Markets SA Proprietary Limited trading as BROKSTOCK.
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