Dear Client,
HotForex would like to inform you that as of Monday 10th of March, lot size specifications of UK Shares CFD contracts listed under London Stock Exchange will be changed.
Specifically as of this Monday, the Lot size contract will consist of 100 shares instead of 1 share per lot which is now. Therefore the minimum trade size will be reduced to 0.01 lots instead of 1 lot allowed now.
All other specifications of the contracts affected will remain the same.
Please find below the list of the affected CFD shares and their new contract specifications:
Description | 1 Lot Size | Used Margin | Spreads | Limit and Stop Levels | Commission | Point Value per share in USD |
---|---|---|---|---|---|---|
Anglo American | 100 Shares | 10% | 1 | 1.5 | 0.10% | 0.01 GBPUSD rate |
Barclays | 100 Shares | 10% | 0.11 | 0.15 | 0.10% | 0.01 GBPUSD rate |
BP Plc | 100 Shares | 10% | 0.12 | 0.15 | 0.10% | 0.01 GBPUSD rate |
British Airways | 100 Shares | 10% | 0.03 | 0.3 | 0.10% | 0.01 GBPUSD rate |
HSBC Holdings | 100 Shares | 10% | 0.02 | 0.3 | 0.10% | 0.01 GBPUSD rate |
Lloyds TSB Group Plc. | 100 Shares | 10% | 0.03 | 0.05 | 0.10% | 0.01 GBPUSD rate |
Rio Tinto Group | 100 Shares | 10% | 1 | 1.5 | 0.10% | 0.01 GBPUSD rate |
Royal Bank Of Scotland Group Plc. | 100 Shares | 10% | 0.2 | 0.3 | 0.10% | 0.01 GBPUSD rate |
Tesco Plc | 100 Shares | 10% | 0.12 | 0.15 | 0.10% | 0.01 GBPUSD rate |
Vodafone | 100 Shares | 10% | 0.08 | 0.1 | 0.10% | 0.01 GBPUSD rate |
Please note that the used margin requirements, commission charges, spreads, limit/stop levels and point value per Lot have all remained the same.
All open positions will be readjusted over the following weekend to represent the new parameters (reduced by 1/100th). The lot size of these positions will be divided by 100 so that the profit & loss posted to your account remain the same. Please see the below example:
CURRENT | AFTER MARCH 10th 2014 | |
---|---|---|
Open Date on Reports | 1-Jan | 1-Jan |
Ticket Number | 123456 | 123456 |
Open Lots of Vodafone | 200 | 2 |
Profit/Loss per Tick on Position | $2 | $2 |
Profit/Loss on Position | $200 | $200 |
Margin Required | $50 | $50 |
If you have any questions please do not hesitate to contact our dedicated customer support team via email, live chat, or by telephone on +44 2033185978.
Best regards,
The HotForex Execution Team