Account Opening
There is no account opening fee for First Prudential Markets accounts.

Commission

(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. This monthly charge is inclusive of the ASX royalty fee of $38.50 a month. This fee can be waived for high volume clients. To enquire if you are eligible contact a First Prudential Markets representative on 1300 376 233.

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% - 3%	Reserve Bank cash rate minus 2% - 3%
No interest is paid or received on positions that are not held overnight.

Interest Rates on Free Equity in CFD Trading Accounts

First Prudential Markets will credit all free cash balances greater than $0 at the Reserve Bank Cash rate less 1%. Interest is calculated daily after market close and posted monthly.

If you have a Credit Balance - Interest is paid on the credit balance of your account (free cash) after all fees, commissions, variation and initial margins in relation to your account have been deducted from your account.

If you have a Debit Balance - Interest is charged on the debit balance of your account after all fees, commissions, variation and initial margins in relation to your account have been deducted from your account.

Dividends and CFDs

If you hold a long CFD position at the time of dividend payment, you will be credited with an amount equal to the gross unfranked dividend on the underlying shares typically on the ex-didvidend 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-didvidend date.