E*TRADE Professional

Commissions

*ETRADE CFDs**
Market Prices. Negotiable rates for active traders
UK Shares		20 bps/0.20% (min£20)
European Shares		20 bps/0.20% (min£20)
US Shares	Share Prices 0-$10 $10-$20 $20+	$0.03/share (min $19.99) $0.04/share (min $19.99) $0.05/share (min $19.99)
International		20 bps/0.20% (min£20)
Flat-rate CFDs
Market Prices on FTSE 100
FTSE 100	GBP 9.95
FTSE 250	GBP 9.95 + fixed spread of 4 basis points
European Shares	GBP 9.95 + fixed spread of 4 basis points
US Shares	GBP 9.95 + 2 cents per share
Indices
Trade up to 9 International Indices
UK Indices	GBP 9.95 Flat-rate with fixed 2 point spread
European Indices	GBP 9.95 Flat-rate with fixed 3 point spread
US Indices	GBP 9.95 Flat-rate with fixed 5 point spread
CFD Market Coverage: Trade up to 19 major International Markets, including:
UK	FTSE 350
US	NYSE, Amex & NASDAQ
Europe	AMS Netherlands, CSE Denmark, FSE Germany, HSE Finland, MIL Italy, PAR France, SIBE Spain, SSE Sweden, SWX Switzerland
Forex
Trade Forex Commission Free
Futures
From GBP 4.95 per contract (or equivalent in $ or EUR including all exchange fees)
Order Management
Stops & Limits	No Charge
Financing Costs
CFD Long Overnight Positions	You Pay: LIBOR plus 2.5%
CFD Short Overnight Positions	We Pay: LIBID minus 2.5%
Forex Tom/Next Roll
Open Forex positions will automatically roll over and Tom/Next swap points will be calculated at 10:00pm London time each day.
Forex Target Spreads
Market	Target Spread	Minimum Deal Size

Margin
CFDs
Indices	10%
Shares	15% Low risk
	25% Medium risk
	25% High risk
	50% Very high risk
	100% Extreme risk
CFD Variable Margins Click here to see the full list
Forex 2%

Important news:

The UK's Financial Services Authority (FSA) has banned short-selling of UK financial stocks from the start of business Friday 19 September 2008. Please click here to review the list of affected stocks.

Please note:

Introduction of minimum order values (commencing April 30 2008):

Beginning 30 April 2008, we will introduce minimum small trade values for CFDs on all markets. From this date you will not be able to open any new positions via the trading platform below the minimum value.

Should you need to close an existing position below the minimum value then please contact us. The minimum order amount is 50 units of the local currency with the exception of Norway, Sweden, Denmark, Hong Kong where the minimum order amount is 500 units of the local currency, Japan where the minimum order is 5000 JPY and Poland where the minimum order is 150 PLN.

Important
Click here to read about margin calls and use of equity for margin

Important
Majors attract a margin requirement of 2%, Minors 4% and Exotics 8%

Risk Warning: Trading in Derivatives carries a high degree of risk and is not suitable for all investors. The gearing or leverage available in Derivatives trading means that a relatively small movement in price can lead to proportionally large losses or gains. Consequently you may lose more than your initial deposit. Please ensure that you fully understand the risks involved prior to opening an account and seek expert advice if necessary. Click here for a full risk warning.

Disclaimer: For full details of our CFD, Forex and Futures product and pricing, please visit www.etrade.co.uk. Click here for our Customer Agreements. E*TRADE Securities Limited is authorised and regulated by the Financial Services Authority and a member of the London Stock Exchange. 42nd Floor, 1 Canada Square, Canary Wharf, London E14 5AA. Registered in Scotland No. SC103238. E*TRADE and the Asterisk Logo are registered trademarks of E*TRADE Financial Corporation or its subsidiaries and are used with permission. © 2004 - 2005 E*TRADE FINANCIAL Corp. All rights reserved.

E*TRADE and its affiliates do not intend the information provided on this site to be distributed to, or used by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject E*TRADE or its affiliates to any registration requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by E*TRADE or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.