Account Opening

Commission

First Prudential Markets offer DMA CFDs at the standard commission rate of just 0.1% on our entire range of over 2,000 Direct Market Access CFDs. We offer a tailored account structure that allows you to tailor your account and commission to your trading style. Commission rate ranges from 0.08% to 0.1% (Minimum commission applies of $5* for Preparation Account to $10 for Standard Account).

*$5 minimum applies for 8 weeks, standard commission of 0.1% with $10 minimum applies thereafter.

GST is not applicable on CFD transactions.

Telephone Trades

First Prudential Markets do not charge additional commission for orders placed over the phone.

High Turnover Traders

First Prudential Markets reward high turnover traders with discounted commission. If you are a high turnover trader and would like a First Prudential Markets representative to contact you to discuss tailoring a commission structure based on your turnover level please call 1300 376 233 begin_of_the_skype_highlighting              1300 376 233      end_of_the_skype_highlighting.

ASX royalty and webIRESS platform

webIRESS is a state of the art platform provided to First Prudential Markets by IRESS Market Technology. The standard monthly charge for accessing the webIRESS is $55 inclusive of GST. The monthly ASX royalty fee imposed by the ASX for live ASX data is $38.50. We offer a flexible pricing structure to make it easier for you to access our platforms free of charge.

webIRESS Platform and Royalty fees waived for 10 standard trades per month

To be eligible to have your webIRESS and ASX Royalties waived, you need to generate $100 commission per month. Access our online platform and mobile platforms for iPhone and BlackBerry plus complimentary trading tools such as Autochartist free when you place just 10 trades a month (based on our standard commission rate of 0.1% with $10). That’s real value. 

Exchange Fees - by Subscription

 
Financing

A financing cost or benefit is incurred for any CFD positions held overnight. The finance rate is applied to the full value of your position. If you hold a long ‘buy’ position you will be charged interest, if you hold a short ‘sell’ position you may receive interest from First Prudential Markets.

Interest Rates on CFD Positions - Only applicable if positions are held overnight 
 
Based on the value of CFD positions held overnight, interest is debited from and/or credited to your CFD account on a daily basis on the next trading day.
 
The interest rate charges for open positions held overnight are set out below. Interest is calculated by multiplying the number of CFDs by the closing price, multiplied by the applicable interest rate, divided by 365 days. 
 
Long CFD Position Interest rate  Short CFD Position Interest rate 
   
Reserve Bank cash rate plus 2% - 4%  Reserve Bank cash rate minus 2% - 3%
 
No interest is paid or received on positions that are not held overnight.

Dividends and CFDs 
 
If you hold a long CFD position leading into the ex-dividend date, you will be credited with an amount equal to the gross unfranked dividend on the underlying shares typically on the ex-dividend date (CFDs do not confer rights to any dividend imputation credits). 
 
If you hold a short CFD position leading into the ex-dividend date, your account will be debited an amount equal to the gross unfranked dividend on the underlying shares typically on the ex-dividend date.