Capital Spreads Offers Access to Australian Shares
Capital Spreads, a leading UK spread betting and CFDs provider, subsidiary of London Capital Group, announced the introduction of a new market in its already wide offer. From today, Capital Spreads clients will have access to Australian equities.
Until now traders were able to get some exposure to the Australian market by taking a position in the ASX 200 index, at a spread of one point, and in the currencies market. Starting today, clients can also take positions directly in the main Australian shares.
Clients will have to subscribe to the ASX data feed by clicking the “Data Feed” button at the top of the web-trading platform and proceed accordingly. There is a monthly usage fee for the service of $49.50 for professional users and $41.25 for non-professionals. The feed will include live price data for the market.
Australian shares are quoted with a typical spread of 0.05%, or 0.10% for a round-trip. Initial margin requirement is usually 5% and the minimum stake is $5.
This new introduction will give nocturnal British clients some extra trading opportunities in a stock market that currently sits in 11th position in terms of market capitalisation with $1,454 billion. Clients who don’t wish to stay awake can always set automatic limit and stop orders to get involved in the overnight action.