Account Opening
There is no account opening fee for First Prudential Markets accounts.
Commission
First Prudential Markets aim to offer our clients the most competitive CFD commission rate. Our standard CFD commission rate ranges from 0.08% to 0.10% depending on your turnover and activity. Our low CFD commission rate applies to our entire range of 2,000+ Direct Market Access CFDs.
(Minimum CFD commission charges apply – Minimum commission ranges from $8 - $10 for DMA CFDs). 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 or email CFD Sales.
ASX royalty and webIRESS platform
webIRESS is a state of the art platform provided to First Prudential Markets by IRESS. The monthly charge for accessing the webIRESS platform is $50 + GST. The monthly ASX royalty fee imposed by the ASX for live ASX data is $38.50. The webIRESS platform fee and ASX royalty fee can be waived for high volume clients. To enquire if you are eligible contact a First Prudential Markets representative on 1300 376 233.
Exchange Fees - by Subscription
| Royalties | incl GST |
| SFE | $100.00 |
| International Markets Live | $15.00 |
| London Metal Exchange Live | $25.00 |
| International Markets Indices Live (IZ) | $30.00 |
| Reuters News | $65.00 |
| DJ Aust News | $65.00 |
| ASX Com News Live (PDS) | $40.00 |
| NZSE access fee | $35.00 |
| NZSE depth | $75.00 |
| NZSE news/quote/depth | $90.00 |
| Excel Addin | $65.00 |
| ASX Mobile Data subscription | $49.50 |
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 at the time of the dividend payment, 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 at the time of dividend payment, your account will be debited an amount equal to the gross unfranked dividend on the underlying shares typically on the ex-dividend date. |