g. Costs and Charges (US Options & Futures)
There are a few costs that you’ll need to consider when trading US-listed options and futures with us, including commission and margin interest. Your trading outlay can also be influenced by other charges – see an outline of these below. When trading options and futures, losses can exceed your original investment.
Commissions and fees
US options and futures accounts
| Opening commission | Closing commission | |
| Options on stocks and ETFs | $1.00 per contract ($10.00 max per leg) | $0.00 |
| Index options | $1.00 per contract | $0.00 |
| Options on futures | $1.25 per contract | $1.25 |
| Options on micro futures | $0.75 per contract | $0.75 |
Futures | $1.00 per contract | $1.00 per contract |
Micro futures | $0.75 per contract | $0.75 per contract |
| Stocks* | $0.00 | $0.00 |
*All stock trades incur a clearing fee of $0.0008 per share and a regulatory fee.
Margin interest rates
When you trade on margin, we charge margin interest.
Margin interest is accrued daily and charged monthly (on the first business day after the 15th). The interest accrued each day is calculated by multiplying the settled margin debit balance by the annual interest rate and then dividing that amount by 360. The amount of the debit balance determines the annual interest rate on that particular day.
Debit balance | Rate | Base rate adjustment3 |
<25,000 | 11% | +1% |
25,000 - 49,999 | 10.5% | +0.5% |
50,000 - 99,999 | 10% | 0% |
100,000 - 249,999 | 9.5% | -0.5% |
250,000 - 499,999 | 9% | -1% |
500,000 - 999,999 | 8.5% | -1.5% |
>1,000,000 | 8.% | -2% |
Margin interest is accrued daily and charged monthly (on the first business day after the 15th). The interest accrued each day is calculated by multiplying the settled margin debit balance by the annual interest rate and then dividing that amount by 360. The amount of the debit balance determines the annual interest rate on that particular day.
Currency conversion charge
The base currency for trading on our US options and futures platform is USD. We auto-convert deposits in a different currency to USD and we automatically convert any realised profit, loss, funding, dividend adjustments or commission to your base currency. Our standard charge is 0.5%, which we add to the conversion rate.
Other potential charges
When trading US-listed options and futures with us, you could be responsible for banking fees; certain trade-related fees like options regulatory fees and clearing fees, single-listed exchange proprietary index options fees, and other miscellaneous fees like overnight mail costs, where applicable.
You also may need to pay charges passed on from third parties such as:
• Fees for credit and non-UK debit card payments
• £15.00 for same-day transfers under £100.00
