Has anyone actually has longpositions on CFD? or everyone just goes short on CFD?
When I invest through CFD I would say 90% of my positions are long positions as its not very often I would short a stock.
Recent long trades:
Tesla
Whitbread
Cineworld
BP
Shell
GBP/USD
GSK
Recent short trades:
EasyJet
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Tesla (-1.203640)
Whitbread (-0.036027)
Cineworld (-0.000769)
BP (-0.003505)
Shell (-0.019348)
GBP/USD (-0.000170)
GSK (-0.016382)
Recent short trades:
EasyJet (-0.000760)
You’ve got really good rates on all of them but look at TESLA. How many quantities you’ve got of TESLA?
Both. I trade futures both directions.
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Im starting to worry as I dont see anyone holding 50 quantities of TESLA on long position this is killing me in intrest and Trading212 is increasing the intrest every single day not only the leverage has been lowered from 1:5 to 1:2 now even the rates went up 4 times in 1 month! I mean that’s just worrying…
None of Tesla anymore as I sold on the last dip and as we mentioned in another thread the swap interest was getting expensive!
The swap does not make any sense. How do you work that out?
is there any calculator? what is the exact rate Im paying to keep these positions open?
On website it says -0.664214 but on the instrument it says -1.203798 what’s the point of using CFD when you can only buy things that won’t make you money but anything good you got to pay huge interest this is more of an INVEST platform than TRADING…
Those amounts are for a quantity of 1. CFDs are more intended for shorter trades. Not for long buy positions, you can use Invest/ISA for that.
We talked about this yesterday! I explained how and even gave you a link from one of the T212 staff explaining how!
Tesla (-1.203640) Stock price: $838
Whitbread (-0.036027) Stock price 3,103p
Cineworld (-0.000769) Stock price 66.10p
BP (-0.003505) Stock price 24.76p
Shell (-0.019348) Stock price 16.67
GBP/USD (-0.000170) ÂŁ1 = $1.36
GSK (-0.016382) Stock price 1,410p
Recent short trades:
EasyJet (-0.000760) Stock price 841
Take a look at the stock prices for each. They’re not comparable at all.
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You are a victim of “The Swappening”.
Around November last year long swap rates started to get out of control. Up until then they were fairly manageable and predictable. This is related to “The Spreadening” when spreads also started to get out of control.
The rules have been changed recently to try and get people like you out of trades. So what you’re seeing isn’t exactly normal.
Anyway here’s a screenshot from one of my posts back in November. Notice I am complaining that Tesla’s long swap it is 4 times larger than the short swap. The gap used to be smaller and more manageable.
Well now it’s 14 times larger. Notice the short position swap has barely changed. In fact it’s gotten slightly cheaper.
It’s not a fixed percentage of the price either. There are other calculations in the background that you won’t be able to figure out.
Other brokers give you the swap rate calculations so you can work it out for yourself. For example here it is from broker XYZ:
In trading212 the calculation is simply: Number of shares x our swap rate.
Also remember since the leverage is now 1:2 (it was 1:5), you are now paying more interest… to borrow less!
If I were in your position I would close the Tesla trade before it is either closed for you, or the swap rate increases even more and really blasts away your gains. Or Tesla has a correction.
Thank you this is just madness, does Trading212 think that everyone is stupid and nobody is going to notice this?
You’re right we basically pay more for borrowing less. I think people should be aware of this, perhaps YouTube video on its way…
You’re late to the party!
These changes came in a few months ago and there was uproar.
And nothing has been done about that? I wonder how many people decided to leave. It’s sad for new people who join Trading212 and they are not aware of these rates actually they won’t even know there are such rates because you can’t even buy any stock hah