HIGH OVERNIGHT INTEREST RATES

[Mizan]

Is it me or has the overnight interest for spreadbetters dramatically increased??

[niallor]

Hi, i have the same issue, got a 600 euro taken out of my account on interest on a small oil position.

[VK]

It’s been going on for weeks guys...see older posts on overnight funding topics.

[dmedin]

1 hour ago, niallor said:

Hi, i have the same issue, got a 600 euro taken out of my account on interest on a small oil position.

How 'small'?

[Caseynotes]

3 hours ago, Mizan said:

Is it me or has the overnight interest for spreadbetters dramatically increased??

yes, search  the forum for previous discussions. Overnight funding charges  increase when the first and second futures contract price widens, when this happens you are better off trading the futures chart where there are no overnight funding charges.

[dmedin]

600 euros interest on a 'small' position?

[ItsAlex]

4 hours ago, niallor said:

Hi, i have the same issue, got a 600 euro taken out of my account on interest on a small oil position.

This sounds insane to me, any chance you can disclose the size of the position? 

[Caseynotes]

2 minutes ago, ItsAlex said:

This sounds insane to me, any chance you can disclose the size of the position? 

you will be paying for the whole weekend and bank holiday in one go.

[dmedin]

9 minutes ago, Caseynotes said:

you will be paying for the whole weekend and bank holiday in one go.

Let's just say, that is NOT the 'minimum' bet size of 25p per point we're talking about

[niallor]

It looks like it was for the weekend and the thursday night when i opened the position  it was 8 points of us crude. First time doing oil. It was 460 for weekend and 122 for the Friday

[GrLi]

I'd like to know how frequently can a broker change the swap rates? I need some help. If any one has a CFD account, I'd like to know the swap rates +/- for USD/ZAR if possible. Thanks.

[dmedin]

11 hours ago, niallor said:

It looks like it was for the weekend and the thursday night when i opened the position  it was 8 points of us crude. First time doing oil. It was 460 for weekend and 122 for the Friday

I hope it was worth it...

[Caseynotes]

3 minutes ago, dmedin said:

I hope it was worth it...

Worth pointing out that the annual long May holiday for Japan is coming up so we will be revisiting overnight funding (for Yen traders) very soon 🙂 

[Guest potential ig newbie]

Hi group, I was thinking of opening a CFD account with IG but before I do so I'd like to know. 

1) How often does IG change its swap rates?

2) If anyone has a CFD account, does anyone know the swap rates for the FX Minor Pair USD/ZAR; for both long & short positions?

Thanks

[Kodiak]

Why do the May future act like this?

[Kodiak]

May and June future (crude)

[Caseynotes]

11 minutes ago, Kodiak said:

May and June future (crude)

yes, spot and June in relatively alignment, May is a real outlier.