Daily Funded Bets | DFBs

Daily Funded Bets (DFBs) are a long-term bet on the cash price of an underlying instrument.

DFBs offer our tightest available spreads on stock indices, sectors, forex and shares, as well as on our gold and silver markets, without the inconvenience of daily rollovers.

How do daily funded bets work?

Each day your bet remains open, we make a cash adjustment to your account to reflect the funding costs of your bet. We will also make dividend adjustments when applicable.

With a DFB you can easily see the true profit and loss for each position you hold, with no need to account for multiple rollovers over the period of the bet.

DFBs have a long expiry date of April 2016, so you can close your bet at any point you choose before the expiry date.

View our DFB examples for further details.

Overnight funding and dividend adjustments

The funding adjustment will apply to all positions held at 10pm (London time). The way the charge is applied differs between forex and other markets:

For stock index, sector and shares the funding adjustment is based on the LIBOR (London Interbank Offered Rate) for the currency the bet is denominated in, plus or minus 2.5%.

The funding adjustment applied to forex, Spot Gold and Spot Silver DFBs is based on the relevant tom-next spread for the currency pair or metal involved, and incorporates an admin fee of 0.0055% per day.

Funding adjustments appear on the ledger as an aggregate amount for each currency that you hold positions in. Dividend adjustments on stock index DFBs will be made at the close of the underlying cash market. Dividend adjustments on share DFBs will be made at the open of the underlying cash market.

View our detailed examples to see how this works in practice.