We’ve added CFDs on all 6 of ARK Invest’s highly requested blockbuster ETFs.
Out of curiosity how is this possible on CFD but not the other sections of the platform?
I don’t deal in CFDs so this side of things is double dutch to me.
Would be 99% more interested when they are available in the ISA if they sort their KIID out for EU and UK.
I would guess because on CFD, you don’t actually own the underlying asset.
So it is not necessary for it to be UCITS/KIID/whatever complaint.
The UCITS-complaint obligation that don’t allows the selling of Ark ETFs (and other US ETFs) don’t apllies to CFDs.
UCITS as the name implies (Undertakings for Collective Investment in Transferable Securities Directive* is only for “funds” (collective investment schemes) that need to comply to certain rules, e.g. having a KIID.
CFDs are derivatives so not under the UCITS.
Stikeout [It is interesting and important that these CFDs appear to be without margin or overnight interest, simliar to what eToro offer. So suitable to buy and hold. The bid offer spread appears to be about double what it is on the ETF itself, 8-10 cents, vs 4-5, which is not bad considering. Prices look to be closer to the ETF than on eToro.]
Update. It appears that the information shown on details page is currently not right. Leverage and interest should be showjng.
If someone(@David) from T212 can confirm what you just said this would be huge.
I might just open a CFD account besides my Investing one.
What the difference btw the CFD plantform and investment plantform? I’m not familiar with the CFD platform…
So if you use leverage you have overnight fee and if you don’t use leverage there is no fee?
Weird. Information about leverage and interest does not appear in my android app. That’s why I thought these might be 1:1 leverage with no interest. But the info from web platform seems to say different.
Until we receive the answer I opened the CFD account in extension to my Invest one.
I guess it’s not possible at the moment, but I would love to see these on Invest.
212 team, if possible please do your best to make it happen!
We are looking into this, will keep you posted.
Edit: The details will be added with the next Android version this Friday.
@mmaatt78
I believe this article will be useful.
After investigating I can safely answer my question.
T212 doesn’t allow you to change the leverage, so for now you can only buy 1:5 leverage for ARK ETFs with an overnight fee.
Nowhere near what etoro has.
I got my hopes to high.