CFD Fees and Charges
The Product Disclosure Statement sets out the fees and charges payable in relation to a CFD Account. The current rates for these fees and charges are as follows:
Account Opening
There is no charge a fee for opening a CFD account.
Trading Platform
There is no charge to use the CFD trading platform.
Trading Model
It is important to consider the spread between the bid and offer prices offered by CFD providers using the Market Maker model compared to the Direct Market Access model when assessing the overall costs associated with your CFD trading.
Wealth Within supports the Direct Market Access model as we believe it offers the most transparent pricing and cost structure to investors.
Click here for further information on the benefits of Direct Market Access.
Trading Fee
Subscribe to any of Wealth Within's products and services (books excluded) and you will receive the benefits of discounted fees on CFDs. Wealth Within members pay $10 or 0.14% whichever is the greater.
Interest on Overnight Positions
Long position: the rate of interest you must pay in the event you hold a long position overnight is currently the Benchmark Interest Rate plus 2.50% per annum.
Short position: the rate of interest paid to you if you hold a short position overnight is currently the Benchmark Interest Rate minus 2.50% per annum.
The Benchmark Interest Rate is the interbank overnight cash rate published by the Reserve Bank of Australia.
GSL Premium
A GSL Premium is charged when you use Guaranteed Stop-Loss protection. The GSL premium will be quoted to you at the time you place your GSL Order and payable immediately if your GSL Order is accepted.
Other Potential Fees
ASX Royalty: if you choose to receive live ASX pricing you will be charged an ASX Royalty for your usage of live ASX prices on the trading CFD Platform. This royalty is charged at a rate of 2.35c per minute , capped at $38.50 per month and is payable monthly in arrears.
SMS: where you have requested delivery of correspondence regarding your CFD Account to your mobile phone via SMS, the current charge for each SMS you receive is 20 cents.
You should refer to the PDS for full details of potential fees and charges, and the circumstances in, and method by which, these fees and charges are payable.
CFDs are highly leveraged and carry a high level of risk. Additionally, any profit or loss accruing to the investor will be adjusted to take into account certain fees and charges. Investors should not invest in CFDs unless they are experienced in equity derivatives and understand and are comfortable with the risks of investing in CFDs. Investors should read the Product Disclosure Statement for CFDs, particularly section 4 "Risks You Should Consider" and obtain their own financial advice as to whether CFDs are an appropriate investment for them.
Wealth Within has an agreement with Macquarie Bank Limited (MBL), under which clients of Wealth Within are able to enter into CFDs with MBL. Wealth Within assists clients to open an account with MBL which allows clients to execute orders to enter into CFDs with MBL. Wealth Within is not a representative of MBL in undertaking these functions. Wealth Within does not give advice to clients in relation to CFDs.