Futures Trading Conditions
Commissions for online traded contracts
The commissions below are for each contract and for each trade (buy or sell) through SMART and exclude exchange fees which are listed under the contract specifications.
| Currency | Commission per lot |
|---|---|
| AUD | 10 |
| CHF | 10 |
| EUR | 6 |
| GBP | 4 |
| JPY | 1000 |
| SEK | 50 |
| SGD | 12.5 |
| USD | 6 |
Commissions for pit-traded contracts
For pit-traded futures contracts, a commission of:
- USD 10 (or the currency equivalent), plus the exchange fee is charged per contract per side.
Commissions for offline-traded contracts
For futures contracts not traded directly online, a commission fee of USD 15 per contract per side is charged which includes exchange fees.
Support for Stop and Stop Limit orders
Stop and stop-limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the popup details for each contract.
Initial Margin
The initial margins listed below are the collateral per contract that you must have in your account to open a position.
Variation Margin
You must maintain the Variation margins listed per contract in your account at all times. If the funds on your account fall below this margin, you will be subject to a margin call to either deposit more funds to cover your positions or close positions. If your margin situation is not remedied, your positions will be closed on your behalf.
Partial Fills
Partial fills may occur on limit orders and the remaining amount will stay on 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.
Expiry of Futures Contracts
Please note that SMART does not support physical delivery of the underlying commodity upon expiry of a futures contract. We therefore advise you to be aware of the last trading day and first notice dates of any futures contracts you invest in and ensure that you close your position before whichever date is the earlier. If you do not close a futures position before this date, the platform will automatically close your position for you at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to you. The last trading day and first notice date of a futures contract is determined by the exchange. Please see the contract specifications for more information.
If you require any assistance or clarification regarding the expiry of futures contracts, please contact your Account Manager.
Profit/Loss Conversions
Currency conversions of trading costs as well as profits and losses from trading activities are carried out using the prevailing close rate as of 17:00 New York Local Time, plus/minus 0.5%.
