Trade hundreds of instruments on an environment you can trust
ArgoTrade provides direct investors access to the same trading conditions and brokerage services that professional traders and fund managers use to implement their distinct strategies and see them through. Trade hundreds of CFD instruments on an environment you can trust.
Forex
Spot Metals
Index CFDs
Stocks CFDs
Commodity CFDs
Contract Specifications - Forex
Currency Pair Swap Long (%) Swap Short (%) Size of 1 Lot Pip Value per Quote Currency Minimum Price Fluctuation Fluctuation Minimum Contract Size
EURTRY -28 2.5 100,000.00 10.00 0.0001 0.01
GBPTRY -27.45 -2.5 100,000.00 10.00 0.0001 0.01
USDTRY -25.7 2.5 100,000.00 10.00 0.0001 0.01
EURRUB -11.75 2.5 100,000.00 100.00 0.0001 0.01
USDMXN -9.95 1.35 100,000.00 10.00 0.00001 0.01
USDRUB -9.45 2.5 100,000.00 100.00 0.0001 0.01
USDZAR -8.45 -0.15 100,000.00 10.00 0.00001 0.01
EURUSD** -6.5 -1.7 100,000.00 10.00 0.00001 0.01
GBPUSD -5.95 2.45 100,000.00 10.00 0.00001 0.01
EURCAD -5.75 -2.45 100,000.00 10 .00 0.00001 0.01
EURAUD -5.5 -0.5 100,000.00 10 .00 0.00001 0.01
EURNZD -5.5 -2.9 100,000.00 10 .00 0.00001 0.01
EURPLN -5.5 -2.9 100,000.00 10 .00 0.0001 0.01
NZDUSD -5.4 -3.2 100,000.00 10 .00 0.00001 0.01
AUDUSD -5.2 -3.2 100,000.00 10 .00 0.00001 0.01
GBPCAD -5.2 -3.2 100,000.00 10 .00 0.00001 0.01
EURNOK -5 -3.4 100,000.00 10 .00 0.00001 0.01
GBPAUD -4.95 -3.45 100,000.00 10 .00 0.00001 0.01
GBPNZD -4.95 -3.65 100,000.00 10.00 0.00001 0.01
EURHUF -4.9 -0.5 100,000.00 1,000.00 0.01 0.01
CHFJPY -4.85 -4.85 100,000.00 1,000.00 0.001 0.01
EURCHF -4.75 -4.75 100,000.00 10.00 0.00001 0.01
EURGBP -4.75 -3.45 100,000.00 10.00 0.00001 0.01
NZDCAD -4.65 -3.95 100,000.00 10.00 0.00001 0.01
AUDCAD -4.45 -3.95 100,000.00 10.00 0.00001 0.01
EURSEK -4.25 -4.25 100,000.00 10.00 0.00001 0.01
AUDNZD -4.2 -4.4 100,000.00 10.00 0.00001 0.01
GBPCHF -4.2 -5.5 100,000.00 10.00 0.00001 0.01
EURJPY -4.1 -4.1 100,000.00 1,000.00 0.001 0.01
NZDCHF -3.65 -6.25 100,000.00 10.00 0.00001 0.01
GBPJPY -3.55 -4.85 100,000.00 1,000.00 0.001 0.01
AUDCHF -3.45 -6.25 100,000.00 10.00 0.00001 0.01
USDCAD -3.45 -4.95 100,000.00 10.00 0.00001 0.01
CADCHF -3.2 -6.5 100,000.00 10.00 0.00001 0.01
USDPLN -3.2 -5.4 100,000.00 10.00 0.0001 0.01
NZDJPY -3 -5.6 100,000.00 1,000.00 0.001 0.01
AUDJPY -2.8 -5.6 100,000.00 1,000.00 0.001 0.01
USDNOK -2.7 -5.9 100,000.00 10.00 0.00001 0.01
USDHUF -2.6 -6 100,000.00 1,000.00 0.01 0.01
CADJPY -2.55 -5.85 100,000.00 1,000.00 0.001 0.01
USDCHF -2.45 -7.25 100,000.00 10.00 0.00001 0.01
USDSEK -1.95 -6.75 100,000.00 10.00 0.00001 0.01
USDJPY -1.8 -6.6 100,000.00 1,000.00 0.001 0.01
NOKSEK 0.56 -8.78 100,000.00 10.00 0.00001 0.01
NA = Not Available
Quote Currency* = It is the second currency of the Forex Pair i.e for EURUSD the EURis the Base Currency and USD is the Quote Currency
Tiered Margin
Note: The above spreads are applicable under normal trading conditions during day trading sessions. However, there may be instances when market conditions cause spreads to widen beyond the typical average displayed above.
  • Zero margin requirements for covering (=hedging) a running position in full, provided that the free margin is positive (margin level > 100%))
  • Trading hours are from 00:00 Monday until 23:00 on Friday for STP accounts Friday server time
  • Trading hours are GMT +2 (GMT +3 during daylight saving/summer time (DST))
  • Trading in micro lots is not allowed for accounts with a balance over $20,000
  • All margin and swap rates will be reviewed and monitored regularly
  • On Wednesdays, the regular swap and financing cost for the CFDs triple, thus covering weekend's charges
  • EURRUB, USDRUB, USDCAD, USDTRY have triple swap charges on Thursdays
Symbol Swap Long (%) Swap Short (%) Size of 1 Lot Minimum Price Fluctuation Minimum Lot Size
XAGUSD -7.8 -7.8 5,000.00 0.001 0.01
XAUUSD -10 -10 100.00 0.01 0.01
Tiered Margin
The swap rate dependents, mainly, on the level of interest rates, as well as the Company’s fee for having an open position overnight. The swap is converted, automatically, into the base currency of the client's trading account. The operation is conducted at 23.59 (server time) and can take several minutes.

Notes :
  • Zero margin requirements for opening a hedged position provided that the free margin is positive (margin level > 100%)
  • On Wednesdays, the charge that applies is triple the regular swap and financing cost for CFDs. This is done, taking into account the weekend
Trading takes place between 01:00 to 24:00 server time Monday to Friday. Server time is GMT + 2 (GMT + 3 applies during daylight saving/summer time). Please be advised that all margin rates will be continuously reviewed.
Instrument Symbol Bloomberg Code Currency Contract Size per 1 Lot Margin Requirement Minimum Deal Size in Lots Market Hours
Brent Oil UKOilw USD 1000 1.00% 0.01 Monday - Friday 01:00 - 24:00
WTI Crude Oil USOilw USD 1000 1.00% 0.01 Monday - Friday 03:00 - 00:00
* On Wednesday, the regular swap and financing cost for the CFDs triple, thus covering weekend's charges

Dividends and Fair value


How it works

To be eligible to receive the dividends, clients must hold a CFD position in respect of the relevant equity or index on the ex-dividend date. The CFD can then be sold at any point after the market opens on the ex-dividend date and still receive the dividend payment. The equity and index markets may be subject to a dividend adjustment as to reflect that the underlying asset will open at a lower level post-dividend date
Ex-dividend will be credited or debited on positions held at 5pm EST.

A dividend adjustment is credited to long or buy CFD positions.
A dividend adjustment is debited to short or sell CFD positions.


Argo.trade will process dividend adjustment 1 day prior to ex-dividend date.
Long positions receive net of tax dividends while short positions pay gross dividend.
Dividend adjustments for non - UK equites vary on local tax arrangements, please contact our trading desk for more information.


Formula: d = p x n

d = dividend
p = position
n = dividend declared

Equity CFD Dividend Calculation

Example: Long 10,000 shares of Vodafone (VOD.L) with net dividend declared at 2p.
d = 10,000 x 0.02 = £200 (credited)

Example: Short 5,000 shares of Barclays (BARC.L) with a net dividend declared at 5p.
d = 5,000 x 0.05 = £250 (debited)

Index CFD Dividend Calculation

Dividend adjustments to cash index CFD trades apply as follows:

Buy or Long trades are credited with the number of points by which the index concerned has been adjusted x trade size Sell or Short trades are debited with number of points by which the index concerned has been adjusted x trade size

NB: The DAX 30 index is not subject to adjustments; it is a total returns index and as such all ex-dividends are automatically reflected in the price.

Formula: d = p x n

d = dividend
p = position
n = number of index points (dividend amount)

Example: Long 10 CFDs of US30 with a dividend at 8 index points.
d = 10 x 8 = $80 (credited)

Example: Short 10 CFDs of UK100 with a dividend at 5 index points.
d = 10 x 5 = £50 (debited)

Fair Value

For some cash markets, fair value adjustment may be applied where the underlying futures price will be adjusted for financing, dividends, storage and other adjustments to calculate the fair value price of the underlyng cash index or commodity instrument.


Financing.

Financing Charge Calculation - Index CFD


Long Position Financing Cost = Notional Value of Instrument x (Underlying Interest Rate + Interest Markup) / Number of Days

Example: Long 250 CFDs of UK100 at a price of 5875.00, GBP based account and GBP LIBOR = 0.50%
Financing Cost = ((250 x 5875.00) x (0.50% + 3.0%)) / 365 = GBP 140.84

Short Position Financing Cost = Notional Value of Instrument x (Underlying Interest Rate - Interest Markup) / Number of Days

Example: Short 100 CFDs of DE30 at 9140.00, EUR based account EUR LIBOR = - 0.25%
Financing Cost = ((100 x 9140.00) x (-0.25% - 3.0%)) / 360 = EUR 82.51

Financing Charge Calculation - Spot Oil

Rollovers for Spot Oil are calculated based on business days, therefore, no additional charges for carrying positions over a weekend or holiday will be applied.

(EOD mid price of 2nd nearby month - EOD mid price of 1st nearby month) / number of days + markup

Example: number of days = 20
Relevant price of First Nearby Month = 45.42
Relevant price of Second Nearby Month = 45.68
Financing Cost = (45.68 - 45.42)/20 + 0.01 = 0.023
Symbol Product Description Contract Size Tick Size/th> Swap Long (%) Swap Short (%) Currency
ALIBABAw ALIBABA 100 0.01 -10 -10 USD
AMAZONw AMAZON.COM INC 100 0.01 -10 -10 USD
AMEXw AMERICAN EXPRESS 100 0.01 -10 -10 USD
APPLE.w APPLE INC 100 0.01 -10 -10 USD
BOAw BANK OF AMERICA CORP 100 0.01 -10 -10 USD
ALIBABAw ALIBABA 100 0.01 -10 -10 USD
AMAZONw AMAZON.COM INC 100 0.01 -10 -10 USD
AMEXw AMERICAN EXPRESS 100 0.01 -10 -10 USD
APPLE.w APPLE INC 100 0.01 -10 -10 USD
BOAw BANK OF AMERICA CORP 100 0.01 -10 -10 USD
BOEINGw BOEING CO/THE 100 0.01 -10 -10 USD
CATERPILARw CATERPILLAR INC 100 0.01 -10 -10 USD
CISCOw CISCO SYSTEMS INC 100 0.01 -10 -10 USD
COCACOLAw COCA-COLA CO/THE 100 0.01 -10 -10 USD
ExxonMobilw EXXON MOBIL CORP 100 0.01 -10 -10 USD
Facebookw FACEBOOK INC-A 100 0.01 -10 -10 USD
GOOGLEw ALPHABET INC-CL A 100 0.01 -10 -10 USD
INTELw INTEL CORP 100 0.01 -10 -10 USD
MICROSOFTw MICROSOFT CORP 100 0.01 -10 -10 USD
NETFLIXw NETFLIX INC 100 0.01 -10 -10 USD
NIKEw NIKE INC -CL B 100 0.01 -10 -10 USD
PFIZERw PFIZER INC 100 0.01 -10 -10 USD
SONYw SONY CORP-SPONSORED ADR 100 0.01 -10 -10 USD
TESLAw TESLA INC 100 0.01 -10 -10 USD
TWITTERw TWITTER INC 100 0.01 -10 -10 USD
WALMARTw WALMART INC 100 0.01 -10 -10 USD
Note : On Fridays, the regular swap and financing cost for the CFDs triple, thus covering weekend's charges
Professionally Selected & Deloitte Verfied
Invest with Confidence.
Invest with Confidence.
Professionally Selected & Deloitte Verfied
Discover our Solutions.
A Personal Relationship Manager will get in touch shortly.