dnb

DNB Trade®

Professional trading platform

Search results

CFDs Trading Conditions

Index Tracker CFDs trading conditions

There is no separate commission when trading CFD indices.The only cost you will incur is the Bid/Ask spread. See minimum spreads for each CFD index here.

Fixed Spreads on Index Tracker CFDs

The Bid/Ask spread will be equal to the minimum target spread in approx. 99% of the quote updates, during the opening hours of the underlying cash market.

This gives clients an improved trading experience and a high degree of certainty with regards to trading costs associated with entering and closing Index Tracker CFDs positions.

Please note that Fixed spreads are available for selected CFD indices only apply under normal market conditions up to the trade amounts listed in the table below.

Stock Index Name
Symbol
Trade amount (contracts)*
USA
US Tech 100 NAS​
USNAS100.I
25
US 30 Wall Street​
US30.I
15
US SPX500​
US500.I
100
Europe
EU Stocks 50​
EU50.I
100
France 40​
FRA40.I
10
Germany 30
GER30.I
10
Italy 40​
ITALY40.I
10
Netherlands 25​
NETH25.I
10
Spain 35​
SPAIN35.I
20
Sweden 30​
SWE30.I
100
Switzerland 20​
SWISS20.I
10
UK 100​
UK100.I
20
Asia/Pacific
Australia 200​
AUS200.I
10
Hong Kong​
HK50.I
25
Japan 225​
JP225.I
1000

* Fixed spreads only apply under normal market conditions and up to the indicated trade amount.

Trading hours

With DNB Trade you can trade the most popular indices in the trading session timeframe up to 22 hours. See trading hours for each CFD index here.

Short selling

Short selling of CFD indices is fully supported with DNB Trade.

Order types

Limit, Market, Stop, Stop Limit and Trailing Stop orders are supported. In addition you are able to place conditional If Done and One Cancels Other (OCO) orders.

A Stop Order to sell your position is triggered on the bid price and Stop Orders to buy are triggered on the ask price.

Italian Financial Transaction Tax for derivatives (ITALY40.I index)

The tax will be applied to all Italian Derivatives whose underlying assets are equity instruments issued by Italian companies

The Italian FTT for Derivatives applies irrespective of the location of the client or the jurisdiction of the transaction, so everyone trading Italian Derivatives will have to pay new Italian FTT for Buys and Sells.

Notional Value of the Index Tracker CFDs transaction (EUR) Tax (EUR)
0-2.5k 0.25
2.5-5k 0.5
5-10k 1
10-50k 5
50-100k 10
100-500k 50
500-1000k 100
Over 1000k 200

Single Stock CFDs and ETF/ETC CFDs trading conditions

Single Stock CFD follows a price of an underlying Stock, hence the bid/ask spread of the CFD equals the spread of the underlying Stock. When trading Single Stock CFDs with DNB Trade a fixed commission in percent is charged on the notional value of the trade with a minimum for small trade sizes. For North American exchanges commission is calculated as cents per contract with a minimum for small trade sizes. All fees.

Free Live Exchange data

Trading stock and ETF CFDs on live streaming prices with DNB Trade requires a subscription to the relevant exchange data. Read more about Exchange Data Subscription.

Corporate actions (CFD)

Even though clients owning stock CFD positions do not own the underlying stock, the value of their positions is still affected by corporate actions. In general, positions and prices are automatically adjusted to reflect corporate actions.

If there are any taxes or fees on corporate actions, AB DNB bank will charge client's trading account accordingly. See more details on Corporate Actions (CFD)

Pre/Post market trading

For stock and ETF CFDs in Europe and APAC (all non US), client orders in these instruments are routed to the exchange closing auction and participate in the closing auction on the exchange.

Orders placed after continuous trading ends, and before the auction uncrosses will also participate in the uncrossing. Orders placed after the uncrossing will be queued for next day.

Short Selling

When short selling a CFD, you will be subject to the rules for the stock market in that particular market. For example, when short selling CFDs, you may experience forced closure of a position if your CFDs get recalled. This may happen if the underlying Stock becomes hard to borrow due to corporate events such as take overs, dividends, rights offerings (and other merger and acquisition activities) or increased hedge fund selling of the Stock.

Local Short Selling Restrictions

Due to market conditions, a number of financial authorities are announcing rule changes that affect short-selling of physical Stocks. These rule changes are put in place to protect the integrity and quality of the securities market and strengthen investor confidence. As a consequence, the changes may affect short-selling of related CFDs.

It is the client’s responsibility to keep informed about what markets imply restrictions in short-selling. This can be done by contacting local authorities. List of CFDs available for short-selling is available under CFD Trading Conditions on DNB Trade trading platform: Account > Trading Conditions > CFD Stock/Index Instrument List

Borrowing costs on short CFDs

A borrowing cost will be applied to your short Cash Stock CFD positions held overnight. This borrowing cost is dependent on the liquidity of the Stocks and may be zero (0) for high liquidity Stocks. More details on the borrowing cost are available under CFD Prices.

Order execution

Market, Limit and Stop orders are supported. Stop Limit and Trailing Stops (the order moves in line with the market) are also available. You can place conditional 'If Done' and 'O.C.O.' (One Cancels Other) orders as well.

Market Orders

DNB Trade may choose to convert Market orders into aggressive Limit orders. This will be to comply with exchange restrictions and internal compliance. Market orders may also be subject to a conversion by our executing brokers for the same reasons.

Please note that it is the client's responsibility to check if the order is filled in the market after order entry. DNB bank will not be responsible for missing fills due to this.

Exchange
NYSE MKT (AMEX – American Stock Exchange)
London Stock Exchange (LSE_SETS)
Oslo Børs/Oslo Stock Exchange (OSE)
NASDAQ OMX Copenhagen (CSE)
NASDAQ OMX Helsinki (HSE)
BME Spanish Exchanges (SIBE)

Poland - Warsaw Stock Exchange (WSE)

Broker's Market orders may be submitted to the exchange only during the continuous trading phase, except when balancing occurs. For any such order to be accepted, at least one opposite Limit order must be awaiting execution. A broker's Market order shall be executed at the price of the best opposite buy or, as the case may be, sell order awaiting execution. Where any Market order is partly executed, the unexecuted portion shall become a Limit order at the last price.

US - American Stock Exchange (AMEX)

Due to a limited order book on the American Stock Exchange (AMEX) DNB Trade does not support Market orders on this exchange. Clients should use Limit orders instead.

Should you experience or suspect any errors with your orders, contact DNB Trade representatives immediately.

Limit Orders

A Limit order is an order to buy a stock at no higher than a predefined price or to sell a stock at no less than a predefined price.

For example, a Buy Limit order can only be executed at the Limit price or lower. A Sell Limit order can only be executed at the limit price or higher. The advantage here of course is that a trader is able to put a minimum control on the order.

Stop Orders

A Stop order is by definition an order to get out (sell stop) or into a position (buy stop) of a position immediately. Stop orders are commonly used to exit positions and to protect investments in the event that the market moves against an open position.

US Stop and Market orders

Orders can be filled before trading commences on the primary exchange. Market orders placed after 09:30 EST will not be filled before the stock is crossed on the primary exchange. Stop orders are triggered on the primary market price feed and follow the routing rules listed above for market orders. As some stops are handled manually delays can sometimes occur.

Partial Fills

Partial fills may occur on Limit orders and the remaining amount stays in the market as a Limit order and may be filled within the order duration.

Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.

Commodities CFDs trading conditions

When trading Commodity CFDs with DNB Trade a commission is not charged, but there is a bid/ask spread included in the price DNB Trade derives for each CFD. This derivation means that whilst the CFD prices track the underlying futures, spread will be slightly wider. Commodity CFDs at DNB Trade are priced as the market spread on the underlying futures contract plus a fixed mark-up. See a full list of CFD Commodities spreads here.

Minimum trade size - fraction of a future contract

Whilst all commodity CFDs are priced in single units, often a minimum trade size will apply.

Commodity CFDs are denominated in smaller lots than the underlying futures contract. For example, the US Crude CFD is 25 barrels of oil, rather than 1,000 barrels. Each CFD is quoted as 1 unit of the underlying contract (e.g., 1 barrel), but there will be a minimum trade size.

You are also able to reduce an open CFD position to below the minimum trade size. Should you be left with such a position then it should be closed via either the Account Summary or by contacting the dealing desk.

Expiration

Like futures, Commodity CFDs will expire each month and will be cash settled on the expiry date of the underlying future. Front month (current contract) and back month (following contract) will be offered to enable clients to manually roll positions from one contract to the next.

The specific expiry date and time for individual Commodity CFDs can be found in the trading platform on either the Trade or Order tickets plus the Trading Conditions pages.

Trading will cease at the specified time listed in the Contracts Specifications table for each contract. You should pay attention to when the Last Trade Day will take place as it differs contract to contract and month to month.

Any positions still open at the close of trading on the Expiry Date will be automatically closed at the closing price set by DNB Bank and cash settled.

For trading purposes, DNB Trade will quote both the current expiring month's contract and the following contract, where availability and liquidity allow.

Order types

Limit, Market, Stop, Stop Limit and Trailing Stop orders are supported. In addition you are able to place conditional If Done and One Cancels Other (OCO) orders. A Stop Order to sell your position is triggered on the bid price and Stop Orders to buy are triggered on the ask price.

Cash settlements

Commodity CFDs give clients exposure to the underlying commodity without the confusion of physical settlement. All Commodity CFDs transactions will be cash settled.

Short selling

Short selling of Commodity CFDs is fully supported with DNB Trade.

Forex CFDs trading conditions

Forex CFDs at DNB Trade are priced as the underlying futures contract spread plus a fixed mark-up.

Minimum trade size - fraction of a future contract

Forex CFDs carry a minimum trade size of 5000 which is significantly lower than the underlying future contract itself. E.g. 1 lot of Euro/US Dollar future is EUR 125 000.

Expiration

Similar to futures contracts, FX CFDs expire and will be cash settled on the expiry date. Any positions still open at the time of expiry will be automatically closed at the market price.

Manual roll of a position from one expiry to another may be done until the time of expiry. The specific expiry date and time for individual FX CFDs can always be found in the trading platforms under CFD Commodities Trading Conditions.

Order types

Limit, Market, Stop, Stop Limit and Trailing Stop orders are supported. In addition you are able to place If Done and One Cancels Other (OCO) conditional orders. A Stop Order to sell your position is triggered on the bid price and Stop Orders to buy are triggered on the ask price.

Short selling

Short selling of Forex CFDs is fully supported with DNB Trade.

Risk warning

CFD is a margin product. Margin trading allows investors to buy and sell assets that have a greater value than the capital in their account. Margin Trading carries a high level of risk to your capital with a possibility to lose more than your initial investment.
Please read complete information on financial products and risk associated on this page.