Note
Legal residents of the US, Canada, Hong Kong, New Zealand and Israel are prohibited from trading IBKR-issued CFDs. Residents of Spain can trade CFDs issued by IBKR if they are either MiFID Professionals or clients of a Spanish Introducing Broker or Professional Financial Advisor. Residents of Australia can trade CFDs issued by Interactive Brokers Australia PTY LTD. Residents of Japan can trade CFDs issued by IBKR Securities Japan (IBSJ). Singapore residents can trade CFDs except those based on underlyings traded in Singapore.
CFDs are global products and not connected to a specific country or region. The margin requirements are outlined in the section below, but may be subject to change depending on the rules of local regulators.
Share CFDs | Initial Margin | Maintenance Margin | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Standard IBKR Margin | 1.25 x Maintenance Margin | Risk-based calculation described below (minimum 10%1) | ||||||||||||||||||||||||||||||
ESMA Minimum | 20% | 50% of Initial | ||||||||||||||||||||||||||||||
Applied Margin | Max (IBKR Initial, ESMA Initial) | Max (IBKR Maintenance, ESMA Maintenance) | ||||||||||||||||||||||||||||||
Example
|
Initial Margin | Maintenance Margin | |
---|---|---|
Share CFDs | 1.25 x Maintenance Margin | Risk-based calculation described below (minimum 10%1) |
We establish a risk-based margin for each CFD individually based on the observed historical volatility of the underlying share. Specifically, we calculate five historical standard deviations (based on 30 days' price history) to determine the standard maintenance margin, subject to a minimum margin of 10% (without correlation-based off-sets). The resultant margin rates apply position by position. In the majority of cases the minimum margin of 10% is applied.
In certain cases IBKR may, at its discretion, establish special margin rates for individual CFDs that are higher than those indicated by our standard methodology.
The following house charges may apply in addition to standard margins:
In cases where a portfolio consists of a small number of CFD positions or if the three largest positions have a dominant weight, a concentration charge is applied instead of the standard maintenance margin described above.
We stress the portfolio by applying a 30% adverse move on the three largest positions and a 5% adverse move on the remaining positions. The total loss is applied as the maintenance margin requirement if it is greater than the standard requirement.
Index CFDs | Initial Margin | Maintenance Margin | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Standard IBKR Margin | 1.25 x Maintenance Margin | As for the related future (minimum 5% or 5 standard deviations). A 50% reduction applies intraday (details below) | ||||||||||||||||||||||||
ESMA Minimum | 5% for Major Indices* 10% for Other Indices |
50% of Initial | ||||||||||||||||||||||||
Applied Margin | Max (IBKR Initial, ESMA Initial) | Max (IBKR Maintenance, ESMA Maintenance) | ||||||||||||||||||||||||
Example
|
Metals CFDs | Initial Margin | Maintenance Margin |
---|---|---|
Standard IBKR Margin | Gold 6.25% Silver 14.85% |
Gold 5% Silver 9% |
ASIC Minimum | Gold 5% Silver 10% |
50% of Initial |
Applied Margin | Max (IBKR Initial, ESMA Initial) | Max (IBKR Maintenance, ESMA Maintenance) |
Note
* Major indices are IBUS500, IBUS30, IBUST100, IBGB100, IBEU50, IBDE30, IBFR40, IBJP225, and IBAU200.
Initial Margin | Maintenance Margin | |
---|---|---|
Index CFDs | 1.25 x Maintenance Margin | As for the related future (minimum 5% or 5 standard deviations)2. A 50% reduction applies intraday (details below) |
Metals CFDs | Gold 6.25% Silver 14.85% |
Gold 5% Silver 9% |
The maintenance margin requirement for Index CFDs is:
Index CFD | Liquid Hours | Total Hours | Time Zone |
---|---|---|---|
IBUS500 | 09:30 - 16:00 | 03:00 - 16:00 | EST |
IBUS30 | 09:30 - 16:00 | 03:00 - 16:00 | EST |
IBUST100 | 09:30 - 16:00 | 03:00 - 16:00 | EST |
IBGB100 | 08:00 - 16:30 | 08:00 - 21:00 | GMT |
IBDE30 | 09:00 - 22:00 | 09:00 - 22:00 | CET |
IBEU50 | 09:00 - 22:00 | 09:00 - 22:00 | CET |
IBFR40 | 09:00 - 18:15 | 09:00 - 22:00 | CET |
IBES35 | 09:00 - 17:35 | 09:00 - 20:00 | CET |
IBCH20 | 09:00 - 17:27 | 09:00 - 22:00 | CET |
IBNL25 | 09:00 - 17:30 | 09:00 - 22:00 | CET |
IBJP225 | 09:00 - 15:00 | 09:00 - 15:00 | JST |
IBHK50 | 09:30 - 16:00 | 09:30 - 16:00 | HKT |
IBAU200 | 10:00 - 16:00 | 10:00 - 16:00 | EDT |
Forex CFD margins are determined for each currency pair on a per contract basis without regard to other Forex balances held in the account, including Spot FX.
Forex CFDs | Initial Margin | Maintenance Margin |
---|---|---|
Standard IBKR Margin | Per table below | Per table below |
ESMA Minimum | 3.33% for Major Currency Pairs* 5% for Other Pairs |
50% of Initial |
Applied Margin | Max (IBKR Initial, ESMA Initial) | Max (IBKR Maintenance, ESMA Maintenance) |
Note
* Major currency pairs are any combination of USD, EUR, JPY, GBP, CAD, and CHF. Any other combination is not, e.g. AUD.USD, SGD.CNH.
Initial Margin | Maintenance Margin | |
---|---|---|
Forex CFDs | Per table below | Per table below |
Symbol | Product Description | Symbol | Currency | IBKR Initial Margin | IBKR Maintenance Margin |
---|---|---|---|---|---|
AUD.CAD | Australian dollar | AUD.CAD | CAD | 3% | 3% |
AUD.CHF | Australian dollar | AUD.CHF | CHF | 3% | 3% |
AUD.CNH | Australian dollar | AUD.CNH | CNH | 12% | 12% |
AUD.HKD | Australian dollar | AUD.HKD | HKD | 10% | 10% |
AUD.JPY | Australian dollar | AUD.JPY | JPY | 3% | 3% |
AUD.NZD | Australian dollar | AUD.NZD | NZD | 3% | 3% |
AUD.SGD | Australian dollar | AUD.SGD | SGD | 5% | 5% |
AUD.USD | Australian dollar | AUD.USD | USD | 3% | 3% |
AUD.ZAR | Australian dollar | AUD.ZAR | ZAR | 10% | 7% |
GBP.AUD | British pound | GBP.AUD | AUD | 5% | 5% |
GBP.CAD | British pound | GBP.CAD | CAD | 5% | 5% |
GBP.CHF | British pound | GBP.CHF | CHF | 5% | 5% |
GBP.CNH | British pound | GBP.CNH | CNH | 12% | 12% |
GBP.DKK | British pound | GBP.DKK | DKK | 10% | 5% |
GBP.HKD | British pound | GBP.HKD | HKD | 10% | 10% |
GBP.JPY | British pound | GBP.JPY | JPY | 5% | 5% |
GBP.MXN | British pound | GBP.MXN | MXN | 10% | 6% |
GBP.NOK | British pound | GBP.NOK | NOK | 5% | 5% |
GBP.NZD | British pound | GBP.NZD | NZD | 5% | 5% |
GBP.SEK | British pound | GBP.SEK | SEK | 5% | 5% |
GBP.USD | British pound | GBP.USD | USD | 5% | 5% |
GBP.ZAR | British pound | GBP.ZAR | ZAR | 10% | 7% |
CAD.CHF | Canadian dollar | CAD.CHF | CHF | 3% | 3% |
CAD.CNH | Canadian dollar | CAD.CNH | CNH | 12% | 12% |
CAD.HKD | Canadian dollar | CAD.HKD | HKD | 10% | 10% |
CAD.JPY | Canadian dollar | CAD.JPY | JPY | 3% | 3% |
CNH.HKD | Chinese Renminbi - Offshore | CNH.HKD | HKD | 12% | 12% |
CNH.JPY | Chinese Renminbi - Offshore | CNH.JPY | JPY | 12% | 12% |
DKK.JPY | Danish krone | DKK.JPY | JPY | 10% | 5% |
DKK.NOK | Danish krone | DKK.NOK | NOK | 10% | 5% |
DKK.SEK | Danish krone | DKK.SEK | SEK | 10% | 5% |
EUR.AUD | European Monetary Union Euro | EUR.AUD | AUD | 3% | 3% |
EUR.CAD | European Monetary Union Euro | EUR.CAD | CAD | 3% | 3% |
EUR.CHF | European Monetary Union Euro | EUR.CHF | CHF | 3% | 3% |
EUR.CNH | European Monetary Union Euro | EUR.CNH | CNH | 12% | 12% |
EUR.CZK | European Monetary Union Euro | EUR.CZK | CZK | 5% | 5% |
EUR.DKK | European Monetary Union Euro | EUR.DKK | DKK | 10% | 5% |
EUR.GBP | European Monetary Union Euro | EUR.GBP | GBP | 5% | 5% |
EUR.HKD | European Monetary Union Euro | EUR.HKD | HKD | 10% | 10% |
EUR.HUF | European Monetary Union Euro | EUR.HUF | HUF | 5% | 5% |
EUR.ILS | European Monetary Union Euro | EUR.ILS | ILS | 10% | 5% |
EUR.JPY | European Monetary Union Euro | EUR.JPY | JPY | 3% | 3% |
EUR.MXN | European Monetary Union Euro | EUR.MXN | MXN | 10% | 6% |
EUR.NOK | European Monetary Union Euro | EUR.NOK | NOK | 3% | 3% |
EUR.NZD | European Monetary Union Euro | EUR.NZD | NZD | 3% | 3% |
EUR.PLN | European Monetary Union Euro | EUR.PLN | PLN | 5% | 5% |
EUR.RUB | European Monetary Union Euro | EUR.RUB | RUB | 100% | 20% |
EUR.SEK | European Monetary Union Euro | EUR.SEK | SEK | 3% | 3% |
EUR.SGD | European Monetary Union Euro | EUR.SGD | SGD | 5% | 5% |
EUR.USD | European Monetary Union Euro | EUR.USD | USD | 3% | 3% |
EUR.ZAR | European Monetary Union Euro | EUR.ZAR | ZAR | 10% | 7% |
HKD.JPY | Hong Kong dollar | HKD.JPY | JPY | 10% | 10% |
MXN.JPY | Mexican Peso | MXN.JPY | JPY | 10% | 6% |
NZD.CAD | New Zealand dollar | NZD.CAD | CAD | 3% | 3% |
NZD.CHF | New Zealand dollar | NZD.CHF | CHF | 3% | 3% |
NZD.JPY | New Zealand dollar | NZD.JPY | JPY | 3% | 3% |
NZD.USD | New Zealand dollar | NZD.USD | USD | 3% | 3% |
NOK.JPY | Norwegian krone | NOK.JPY | JPY | 3% | 3% |
NOK.SEK | Norwegian krone | NOK.SEK | SEK | 3% | 3% |
SGD.CNH | SINGAPORE DOLLAR | SGD.CNH | CNH | 12% | 12% |
SGD.JPY | SINGAPORE DOLLAR | SGD.JPY | JPY | 5% | 5% |
ZAR.JPY | South African Rand | ZAR.JPY | JPY | 10% | 7% |
SEK.JPY | Swedish krona | SEK.JPY | JPY | 3% | 3% |
CHF.CNH | Swiss franc | CHF.CNH | CNH | 12% | 12% |
CHF.DKK | Swiss franc | CHF.DKK | DKK | 10% | 5% |
CHF.JPY | Swiss franc | CHF.JPY | JPY | 3% | 3% |
CHF.NOK | Swiss franc | CHF.NOK | NOK | 3% | 3% |
CHF.SEK | Swiss franc | CHF.SEK | SEK | 3% | 3% |
CHF.ZAR | Swiss franc | CHF.ZAR | ZAR | 10% | 7% |
USD.CAD | United States dollar | USD.CAD | CAD | 2.5% | 2.5% |
USD.CHF | United States dollar | USD.CHF | CHF | 3% | 3% |
USD.CNH | United States dollar | USD.CNH | CNH | 12% | 12% |
USD.CZK | United States dollar | USD.CZK | CZK | 5% | 5% |
USD.DKK | United States dollar | USD.DKK | DKK | 10% | 5% |
USD.HKD | United States dollar | USD.HKD | HKD | 10% | 10% |
USD.HUF | United States dollar | USD.HUF | HUF | 5% | 5% |
USD.ILS | United States dollar | USD.ILS | ILS | 10% | 5% |
USD.JPY | United States dollar | USD.JPY | JPY | 3% | 3% |
USD.MXN | United States dollar | USD.MXN | MXN | 10% | 6% |
USD.NOK | United States dollar | USD.NOK | NOK | 3% | 3% |
USD.PLN | United States dollar | USD.PLN | PLN | 5% | 5% |
USD.RUB | United States dollar | USD.RUB | RUB | 100% | 20% |
USD.SEK | United States dollar | USD.SEK | SEK | 3% | 3% |
USD.SGD | United States dollar | USD.SGD | SGD | 5% | 5% |
USD.ZAR | United States dollar | USD.ZAR | ZAR | 10% | 7% |
For Residents of Europe:
Use the following links to view other margin requirements:
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Pursuant to Part 7.8A of the Corporations Act 2001, Interactive Brokers Australia Pty. Ltd. has prepared the following target market determinations relating to certain financial products for which it is deemed to be the issuer. Our Target Market Determinations are located here: Target Market Determinations.
Product Disclosure Statements are also available for each of these products. If applicable, you should carefully consider these Disclosures in deciding whether to acquire, or to continue to hold, the relevant financial product.