We compare the best UK CFD brokers for low overnight fees and longer-term positions, including holding costs, financing markups, spreads and forward/futures CFDs.
Best CFD Brokers for Low Overnight Fees & Long-Term Positions
If you regularly hold CFD positions overnight, or even for days, weeks or months, then you know that the spread isn’t the only cost that matters. Cash CFDs can attract a daily overnight funding or holding charge. Some brokers offer forward or futures CFDs, where financing is built into the price instead of being charged separately each night.
For this guide, I compared over 50 different brokers to find the best CFD brokers based on overnight funding, broker financing markups, forward/futures alternatives, spreads, commissions, currency conversion, market range and platform quality to find the strongest options for traders who keep CFD positions open for longer.
Who is this guide for?
This guide is aimed at UK CFD traders who hold leveraged positions beyond a single trading day. It isn’t a guide to traditional buy-and-hold investing. CFDs are leveraged trading products, and UK retail leverage limits vary depending on the market being traded.
The key question we’re trying to answer is simple:
Which broker gives you the best combination of reasonable holding costs and products for keeping a leveraged position open for longer?
Best CFD Brokers for Low Overnight Fees
The top 5 trading platforms for long-term CFD trading/investing, based on holding fees, platform variety, and experience, are CMC, IG, Pepperstone, XTB, and SpreadEx. However, IG, CMC and Pepperstone pull away from the competition clearly when it comes to funding costs / overnight fees for longer-term positions.
| Broker | Best for | Typical long index CFD funding* | Long-term futures / forward option | Trading-cost strength | Main advantage | Main drawback |
|---|---|---|---|---|---|---|
IG | Best Overall for Long-Term CFD Trading | Benchmark + 3% | Yes, no separate overnight funding | Competitive spreads; EUR/USD from 0.6 pips | Huge market range, strong futures offering and advanced platform options. | Not the cheapest cash-index funding; 0.8% FX conversion. |
CMC Markets | Best for Long-Term Multi-Asset CFD Trading | Benchmark + ~3% | Yes, no separate holding cost | 0% commission currently on UK and most European share CFDs | 13,000 instruments, excellent proprietary platform and strong forward range. | Cash-CFD funding is very similar to IG rather than exceptionally cheap. |
Pepperstone | Best for Low-Cost CFD Trading | Benchmark + 2.5% on indices | Yes, no additional overnight funding | Razor FX spreads from 0.0 pips + commission | Lowest published index funding markup of these brokers plus very tight trading costs. | Smaller overall market range than IG or CMC Markets. |
XTB | Best for Beginners | Varies by instrument | No equivalent broad no-funding forward range | Competitive spreads; 0.5% currency conversion | Very easy-to-use xStation platform with integrated education and research. | Long-term funding is less transparent because swap rates are instrument-specific. |
SpreadEx | Best for Long-Term Share CFDs | Benchmark + 3.5% on most indices | Yes, no overnight funding on futures | FTSE 350 shares use a lower 3% financing markup | Good futures structure and competitive financing on UK shares. | More expensive cash funding on indices and forex. |
Verdict
We ranked IG, CMC Markets, Pepperstone, XTB and Spreadex as our top five brokers for keeping CFD positions open for longer. We looked primarily at overnight funding costs and longer-dated forward/futures alternatives, before considering spreads, commissions, market range, platform quality and other account costs.
IG takes our overall top spot, while Pepperstone has particularly attractive published financing on major cash index CFDs and CMC is a strong alternative for traders who want a large market range and forward contracts.
- IG: Best Overall for Longer-Term CFD Trading
- CMC Markets: Best for Multi-Asset CFD & Forward Trading
- Pepperstone: Best for Low-Cost Index & Forex CFDs
- XTB: Best Beginner-Friendly CFD Broker
- Spreadex: Best for UK Share CFDs
Let’s dive into each broker to see why they stand out and how they can fit your trading style.
What are CFD Overnight Fees?
CFD overnight fees, also called overnight funding, holding costs, financing charges or swaps, are charges that can apply when you keep a cash CFD position open beyond your broker’s daily cut-off time.
For a long cash CFD, the cost will typically include a market interest or reference rate plus the broker’s own financing charge. Importantly, the calculation is generally based on the full value of the leveraged position, rather than simply the margin you deposited.
That means overnight funding becomes increasingly important as the position gets larger or the holding period gets longer.
A trader opening and closing a CFD on the same day may care primarily about the spread and commission. Someone keeping that same position open for several weeks may find that overnight financing becomes one of the biggest trading costs.
Short positions work differently and can sometimes receive a financing credit, although the broker’s own charge is still taken into account. Short share CFDs can also incur additional stock-borrow fees.
Weekend days count too. Brokers normally apply a multi-day funding adjustment on a particular rollover day to account for Saturday and Sunday.
Cash CFDs vs Forward CFDs for Longer-Term Positions
One of the most important things to understand is that a cash CFD and a forward/futures CFD can give you similar market exposure but charge for that exposure differently.
| Cash CFD | Forward/Futures CFD | |
| Overnight funding | Usually charged daily | No separate daily overnight charge |
| Spread | Usually tighter | Usually wider |
| Expiry | Typically rolling | Has an expiry or rollover date |
| Financing | Charged separately | Reflected in the contract price/spread |
| Usually better suited to | Shorter-term positions | Longer planned holding periods |
This is why simply looking for the broker with the lowest daily overnight rate doesn’t tell the whole story.
If you plan to hold an index or commodity position for several months, a broker offering a suitable forward or futures CFD may be worth considering. You avoid a separate overnight debit each day, although the financing cost hasn’t disappeared: it is reflected in the forward price, and the contract will eventually expire or roll.
Best Brokers for Long-Term CFD Trading Ranked
1. IG: Best Overall for Long-Term CFD Trading
IG: No Inactivity Fees & Huge Market Range
When I first tried IG, I have to admit I was pretty overwhelmed by its scope. This broker doesn’t just dip its toes into the trading world; it cannonballs in, offering over 17,000 markets, a range of proprietary and third-party platforms, and some of the best educational resources I’ve seen. If you’re looking for versatility, IG might be the perfect match.
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Why IG is Great for Longer-Term CFD Trading
Whilst IG isn’t the absolute cheapest on every cash CFD (Pepperstone actually beats it on the published index financing markup), what IG gives you is the best combination of choice and long-term flexibility.
IG has a huge range of potential instruments to trade, covering shares, indices, forex, commodities, and bonds. More importantly, IG has a substantial futures CFD offering specifically for traders who want to take longer-term positions without paying daily overnight funding.
Massive Range of Markets
IG offers 17,000+ instruments, including shares (UK, US, and global), ETFs, forex, indices, bonds, and more. IG’s range covers shares, ETFs, forex, indices, commodities, bonds and other markets, giving longer-term CFD traders considerably more choice than most competitors.
Advanced Platforms
You can start with IG’s proprietary web trader or dive into ProRealTime (paid platform), known for its advanced charting and automation features. IG also supports MT4 and TradingView integration, so you’ll never feel limited.
Reliability & Regulation
Fully FCA-regulated, client funds in segregated accounts, and a multi-decade track record that speaks for itself.
Cost of Long-Term CFD Trading on IG
Overnight financing rate
- Benchmark/base rate: For shares and indices, IG uses the relevant interest rate for the market’s currency. For example, SONIA for GBP markets or the equivalent rate for USD/EUR markets. Forex uses the tom-next rate instead.
- Broker markup/admin rate: IG currently lists 3% per year for most CFD asset classes and 1% for FX CFDs on its main UK CFD charges page. This markup is added into the overnight funding calculation.
- If you hold a leveraged CFD overnight, you effectively pay the market interest rate plus IG’s fee. This is the main cost that builds up when holding CFDs for weeks or months.
Weekend financing
- Shares, indices and commodities: Positions still open at 10 pm Friday are normally charged three days’ funding to cover the weekend.
- Forex: Triple funding is normally charged on Wednesday night because of FX settlement rules. Friday then normally attracts only one day’s funding.
Long vs short financing
- Long positions: You normally pay the benchmark interest rate plus IG’s markup.
- Short positions: You can sometimes receive the benchmark interest component, but IG’s markup still works against you. This means a short position does not automatically earn overnight interest overall.
Share borrow fees
If you short a share CFD, there can be an additional stock borrowing fee on top of normal overnight financing. The rate depends on the individual stock and can change at short notice. IG says the borrow charge includes a 0.5% administration fee.
This is really important when holding hard-to-borrow stocks short for a long period (like some niche exotic share CFDs).
Commodity/futures carry adjustments.
Cash commodity CFDs work slightly differently. IG bases them on futures prices, so there is a daily basis/carry adjustment as well as IG’s 3% annual admin charge. Depending on the futures market and whether you’re long or short, the basis adjustment can either help or hurt you.
Futures/forward CFD alternative
Yes, IG offers forward CFD contracts.
- Overnight financing? No separate overnight funding charge.
- Trade-off: Futures and forwards generally have wider spreads than cash CFDs.
- Expiry/rollover: Futures have an expiry date, so a long-term trader may need to roll the position into the next contract. IG says commodity futures can be rolled at expiry unless you instruct otherwise.
For long-term CFD positions, this is genuinely one of IG’s strongest features, because futures can avoid months of daily overnight financing.
Spread
For forex, indices and commodities, IG generally makes money through the spread. Current minimum spreads are:
- EUR/USD: 0.6
- S&P 500: 0.4 points
- FTSE 100: 1 point
- Spot gold: 0.3 points
For long-term positions, the spread matters less than overnight financing because you generally pay it when entering/exiting rather than every night.
Commission
Share CFDs use commission rather than IG adding a normal dealing spread. Current rates are:
- UK shares: 0.10%
- European shares: 0.10%
- US shares: 2 cents per share
Again, this is mainly an entry/exit cost rather than a cost that increases every day you hold the trade.
FX conversion fee
IG charges 0.8% when a CFD trade requires money to be converted into another currency. For example, a GBP account trading a US-listed share CFD could incur currency conversion costs.
Other account/platform fees
Some optional tools, live data feeds and ProRealTime features can have additional charges.
Account opening: Free
Account maintenance: Free
Inactivity fee: Free
Deposits/withdrawals: generally Free
Guaranteed stops: a premium is charged only if the guaranteed stop is triggered
Who is IG Best For?
- Long-Term CFD Traders who want a huge selection of shares and ETFs, plus the option to dabble in CFDs.
- Traders Who Value Education, as IG’s Academy sets the benchmark for learning materials.
- Tech Enthusiasts who love exploring advanced charting platforms (ProRealTime, TradingView).
Verdict
IG is best for traders who want one account covering a very large range of CFD markets, with the option to use futures or forwards when a longer-dated position makes more sense than continuously funding a cash CFD.
No Minimum Deposit
Best for Stocks
IG offers 17,000+ trading instruments and combines robust regulation with cutting-edge platforms like ProRealTime, TradingView, and L2 Dealer.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2. CMC Markets: Best for Multi-Asset CFD Trading & Forwards
CMC Markets: Great Multi-Asset Contract Options
CMC Markets provides a great IG alternative with tens of thousands of instruments, great future contract options and CFD trading options. .
7CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money..
Why CMC Markets is Great for Long-Term Trading
CMC is probably the closest alternative to IG. The actual cash-CFD funding structure is really similar. For shares and indices, its 0.0082% daily charge equates to roughly 3% annually, while FX uses a roughly 1% annual adjustment.
CMC also offers around 13,000 instruments, so you’re unlikely to feel restricted compared with most CFD brokers. It also offers forwards for traders who don’t want to keep paying daily holding costs. When a forward expires, CMC allows it to be rolled and says the new position is entered at the mid-price, saving half of the spread cost on the rollover. That’s a great option for traders looking to hold forward contracts longer-term.
Great platform options
Whilst CMC Markets doesn’t offer cTrader or MT5, they do provide TradingView, MT4, and their Next Generation platform. These options are great, although we found them most effective for long-term trading through their Next Generation platform. You can see all the futures contracts and associated costs – really useful.
Huge market range
CMC offers an absolutely mammoth range of markets to trade from stock, index, forex and bond CFDs alongside their spread betting options; CMC has over 13,000 instruments. Whilst this may not be as large as IG, it’s one of the largest we’ve seen alongside IG and City Index.
CFD Costs for Long-Term Positions
Overnight financing rate
- Benchmark/base rate: For share and index CFDs, CMC uses the relevant reference rate for the currency, for example SONIA for GBP, SOFR for USD and €STR for EUR. Forex uses the tom-next rate instead.
- Broker markup/admin rate: For shares and indices, CMC adds 0.0082% per day to long positions and subtracts it from short positions. That works out at roughly 3% per year (same as IG). For forex, the adjustment is 0.0027% per day, or roughly 1% per year.
- For a long share or index CFD, you’re effectively paying the underlying interest rate plus around 3% a year to CMC. This is the main cost to watch when holding a position for months.
Weekend financing
CMC charges overnight holding costs on calendar days even though markets are closed at weekends. For most FX pairs, Wednesday’s charge is tripled to cover Saturday and Sunday. A small number of FX pairs, including USD/CAD, use Thursday instead.
Long vs short financing
- Long positions: Normally pay the reference interest rate plus CMC’s charge.
- Short positions: Can receive overnight interest where rates allow, because CMC deducts its markup from the underlying rate.
A short isn’t guaranteed to earn money. If the underlying interest rate isn’t high enough to overcome CMC’s charge, you’ll still pay a holding cost.
Share borrowing fees
Short share CFDs can incur an additional borrowing charge when the underlying stock is expensive or difficult to borrow. CMC warns these fees can be significant and can increase sharply when short interest rises.
Long-term shorting of individual stocks can become considerably more expensive than the normal overnight rate suggests.
Commodity/futures carry adjustments.
Cash commodity and treasury CFDs use prices derived from futures contracts. Their overnight charge therefore includes a futures price/carry adjustment plus CMC’s charge.
CMC’s charge is the greater of 3% or a proportion of the futures price adjustment. This makes comparing their commodity pricing more difficult to compare 1-for-1 vs something like IG.
Futures/forward CFD alternatives
CMC offers forward contracts on indices, forex, commodities and treasuries.
- Overnight financing: No. Forward CFDs do not have holding costs.
- Expiry/rollover: They have a fixed expiry date. You can roll a position into the next contract; CMC says the existing profit/loss is realised and the new trade is entered at the mid-price, with 50% of the spread cost saved on the rollover.
For long-term CFD trading, this is important: forwards may be a better option than repeatedly paying overnight funding on a cash CFD.
Spreads
The spread is built into CMC’s buy and sell prices for forex, indices, commodities and most other CFDs (they are very competitive, starting at 0.5 pips for EUR/USD), but for someone holding a position for several months, the spread is generally less important than the accumulating overnight financing cost.
Commission
Share and ETF CFDs do carry commission at CMC Markets. The exact charge depends on the market: CMC currently states that many share and ETF CFDs are charged as a percentage of the trade value or subject to a minimum commission, while US and Canadian share CFDs use per-unit pricing.
This is separate from CMC’s equities investing account, where different commission pricing applies.
For a long-term share CFD, remember that dealing commission is mainly an entry and exit cost, while overnight funding continues for as long as the cash CFD remains open.
FX conversion fee
CMC charges 0.7% when realised profits or losses need converting from the instrument’s currency into your account currency. For example, a GBP account trading US share CFDs may pay conversion costs when the trade’s profit or loss is converted back into pounds.
Other account/platform fees
- Inactivity fee: £10 per month after 12 months without trading, provided money remains in the account.
- Market data: Some share CFD markets require a paid market-data subscription, although many are free and some fees can be refunded based on trading activity.
- Guaranteed stops: Premium payable, but refunded if the guaranteed stop isn’t triggered.
Long-Term CFD Trading Verdict
The important numbers are essentially:
Shares/indices: reference rate + ~3% per year
Forex: tom-next + ~1% per year adjustment
Short shares: potential extra borrow fee
Forwards: no overnight holding cost
So on the main long-term financing structure, CMC is actually very similar to IG, while its forward CFDs are also a significant advantage for long-term positions.
Who Is CMC Markets Best For?
- Multi-asset CFD traders who want access to a very large range of markets.
- Longer-term index, forex and commodity traders who want the option of using forwards rather than paying a separate daily holding charge.
- Traders who prefer a strong proprietary platform, while still having access to MT4 and TradingView.
How Does CMC Compare to IG for Overnight Fees / Long-Term CFD Positions?
For longer-term CFD positions, CMC has a slight edge over IG, but overall IG is the better pick.
| Long-term cost | IG | CMC | Winner |
|---|---|---|---|
| Shares/indices overnight markup | ~3% p.a. + benchmark | ~3% p.a. + benchmark | Tie |
| FX overnight markup | ~1% p.a. + tom-next | ~1% p.a. + tom-next | Tie |
| Short share borrow fees | Yes | Yes | Tie |
| No-funding longer-term contracts | Futures/forwards | Forwards | Tie |
| FX conversion | 0.8% | 0.7% | CMC |
| Long-term product structure | Very good | Very good | Tie |
There is very little between IG and CMC on standard cash-CFD financing. Both charge roughly 3% above the relevant rate for comparable share and index positions, and both offer longer-dated contracts without separate overnight holding charges. IG wins our overall comparison primarily because of its broader market range.
Verdict
CMC Markets is best for traders who want a huge market range and a strong proprietary CFD platform, with forward contracts available for longer-term positions.
No Minimum Deposit
Best for Forex Variety
CMC is a leading CFD & Spread Betting platform in the UK, founded in 1989, it is truly one of the oldest and greatest platforms for trading forex CFDs with the widest range of forex pairs of any major broker.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3. Pepperstone: Best Low-Cost Forex & Index CFD Broker
Pepperstone: Razor Thin Spreads
If tight spreads, ultra-fast execution, and platform versatility are what you’re after, Pepperstone is the broker to beat. Known for its razor-sharp pricing and high-performance infrastructure, this Australian-born broker has carved out a significant place in the UK day trading scene. It’s particularly suited for forex and CFD traders who value cost efficiency and speed over bells and whistles.
73-89% of retail investor accounts lose money when trading on margin with this provider..
Why is Pepperstone Good for Longer-Term CFD Trading
Pepperstone is probably the most interesting broker purely from a cost perspective. Its index funding formula uses the relevant benchmark rate plus 2.5%, compared with roughly 3% at IG and CMC and 3.5% at Spreadex.
Then you have Pepperstone’s other major strength: trading costs. The Razor account offers raw FX CFD spreads from 0.0 pips, with commission from £2.25 per lot per side. Pepperstone also supports platforms including its own Pepperstone Platform, MT4, MT5, cTrader and TradingView.
And it doesn’t lose the long-term advantages either. Pepperstone offers index CFD forwards where the funding is incorporated into the forward price rather than charged separately every night.
CFD Costs for Long-Term Positions
Overnight financing rate
- Benchmark/base rate: Based on the relevant market interest rate, such as ARR/IBOR for indices and ETFs.
- Broker markup/admin rate: 2.5% per year on index and ETF CFDs.
Essentially, for a long index CFD, you’re broadly paying the market interest rate + 2.5% a year. This is already slightly cheaper than IG and CMC’s roughly 3% markup for index positions.
Weekend financing
Forex generally has triple swap on Wednesday to account for the weekend. Some T+1-settled pairs use a different rollover day.
Long vs short financing
- Long: pays the market interest rate plus Pepperstone’s charge.
- Short: can receive the underlying interest rate, minus Pepperstone’s charge.
Share borrow fees
Pepperstone doesn’t clearly publish a single separate short-stock borrow percentage on its main UK costs page. Short-share holding costs can vary by instrument, so these need checking in the platform rather than using one headline rate.
Commodity/futures carry adjustments.
Spot commodity CFDs can incur overnight swap charges. Pepperstone also offers futures-based contracts for some commodities.
Futures/forward CFD alternative
Pepperstone offers alternatives, notably on major indices and commodities.
- Overnight financing: No additional overnight funding.
- Expiry/rollover: Pepperstone says forward CFDs are automatically rolled into the next contract if still open at expiry.
- The financing cost is effectively incorporated into the wider forward spread instead.
This is a strong feature for long-term CFD trading, just like IG and CMC.
Spread
- Razor FX CFDs: spreads from 0.0 pips, plus commission.
- Standard FX CFDs: no commission, but Pepperstone adds around 1 pip round-trip to FX pricing.
- Indices and commodities generally use spread-based pricing.
Commission
- Indices: £0 commission.
- Most commodities: £0 commission, except Razor Spot Gold.
- UK share CFDs: 0.10% per side
- European shares: 0.10% per side
- US shares: $0.02 per share
- Razor FX uses commission in exchange for raw spreads.
FX conversion fee
Unlike IG and CMC, Pepperstone does not list a separate headline percentage FX-conversion fee on its UK costs page. Where trading commissions need converting into another account currency, Pepperstone says they’re converted at the spot rate.
Other account/platform fees
- Account opening: Free
- Account keeping: Free
- Inactivity fee: None
- Deposits/withdrawals: generally free, although international bank withdrawals may incur charges.
Verdict
The interesting number is 2.5%. When compared to IG & CMC, Pepperstone starts to look very good for index CFDs in particular:
Pepperstone: benchmark + 2.5%
IG: benchmark + ~3%
CMC: benchmark + ~3%
So Pepperstone is stronger than both IG and CMC for long-term cash index CFDs, while still offering forward FCDs with no separate overnight funding charge.
Who Is Pepperstone Best For?
Pepperstone is ideal for:
- Cost-conscious index CFD traders, particularly those focused on major indices where Pepperstone publishes a 2.5% financing charge above the relevant reference rate.
- Forex traders using the Razor account, with raw spreads from 0.0 pips plus commission.
- Traders who value platform choice, with Pepperstone supporting its own platform, MT4, MT5, cTrader and TradingView.
Verdict
Pepperstone has great CFD trading costs for long-term positions. If you’re more active or enjoy advanced platform options, this is the broker for you. While it may not have the biggest share CFD list, it excels in cost efficiency and execution speed, making it ideal for frequent traders, investors or ‘tradevestors’.
£10 Minimum Deposit
Best for Forex
Pepperstone is a Melbourne-based broker that offers an excellent range of assets in the financial trading markets, including CFD's for commodities, shares, ETFs and more.
73-89% of retail investor accounts lose money when trading on margin with this provider.
4. XTB: Best for Beginners
XTB is harder to compare on long-term holding costs because it publishes instrument-specific swap rates rather than one simple annual financing markup across an entire asset class.
That doesn’t automatically make XTB more expensive, but it does mean you need to check the current long and short swap rate on the exact CFD you intend to hold. For traders who value simplicity, its main advantage is instead the user-friendly xStation platform and the amount of research, news and education built directly into it.
XTB: Best for Beginner CFD Traders
XTB is a solid broker for investors or long-term traders who value advanced tools and analysis. While it lacks MetaTrader support, its proprietary platform more than makes up for it.
73% of retail investor accounts lose money when trading CFDs with XTB Limited. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Why XTB is Good for Long-Term CFD Positions
The xStation 5 platform is intuitive, and I love that it bundles in a sentiment indicator, an integrated news feed, and a super-handy trader’s calculator. Everything’s in one spot so you’re not juggling half a dozen tabs (like I did when i first started trading!). Regulation-wise, XTB is FCA-compliant, and they’re even publicly listed on the Warsaw Stock Exchange, which adds an extra layer of transparency. They’ll only charge an inactivity fee after 12 months of no trading activity, which might not bother you if you do at least a few trades per year.
xStation 5 Platform
Super intuitive, with real-time market sentiment tools, advanced charting, and an integrated news feed. If you like having everything in one place (charts, sentiment, news), xStation delivers.
Shares & ETF CFDs
XTB now offers both real shares and ETFs and leveraged CFD products in the UK. For this guide, we’re assessing its CFD offering. However, the distinction matters: if you want to buy a share or ETF without leverage and hold it as a traditional long-term investment, XTB’s real share and ETF service is a separate alternative to using a CFD.
Costs of Holding CFDs on XTB
Overnight financing rate
- Benchmark/base rate: XTB bases financing on market/interbank rates. For currencies, this includes benchmarks such as SONIA for GBP, SOFR for USD and €STR for EUR.
- Broker markup/admin rate: XTB does not publish one simple fixed markup like IG/CMC’s 1% or 3%. It adds its margin to the calculation and publishes the resulting long and short daily swap rate for each instrument. These rates are updated regularly.
This means you need to check the actual instrument. There isn’t one headline XTB annual holding rate you can use across all CFDs.
Weekend financing
Swap/financing is normally applied around midnight each day (not 10 pm like IG). Weekend treatment depends on the instrument. Certain FX pairs have triple financing on Wednesday, while USD/TRY uses Thursday.
Long vs short financing
Both long and short positions have their own swap rate. Either side can be a charge or a credit depending on the instrument and market rates.
Share borrow fees
Yes. Certain short Stock CFDs and ETF CFDs can incur additional borrowing costs. XTB incorporates these into the overnight financing/swap rate, and they can change quickly if a stock becomes expensive or difficult to borrow.
Commodity/futures carry adjustments.
Many XTB index and commodity CFDs are priced from futures. When the underlying futures contract expires, XTB automatically rolls the CFD to the next contract and makes a cash/swap adjustment for the price difference. XTB describes the rollover itself as profit-neutral and without a separate transaction fee.
Futures/forward CFD alternative
No, not really… XTB doesn’t offer futures in the same way as IG or CMC.
- XTB instead offers CFDs that are often based on futures and automatically rolled.
- So there isn’t an obvious separate forward CFD with no overnight financing to switch into for a six-month trade, as there is with CMC/IG.
This is an important disadvantage for XTB compared to IG and CMC.
Spread
- Forex, indices and commodities: spread is built into the price and varies by instrument.
- Stock/ETF CFDs: XTB adds a 0.30% price markup, effectively 0.15% on each side of the market.
Commission
- Stock/ETF CFDs: 0% commission on opening and closing.
- For standard forex/index/commodity CFDs, the trading charge is primarily incorporated into the spread.
FX conversion fee
0.5% on CFD profits/losses that need converting into your account currency. It is settled when the trade closes.
Other account/platform fees
- Account opening: Free
- Normal account maintenance: Free
- Inactivity: equivalent of €10/month only if there has been no trade for 365 days and no deposit for 90 days. Importantly, XTB doesn’t charge this while you have an open position.
Verdict
Compared with IG and CMC, XTB is less straightforward to assess for long-term holding:
IG/CMC: benchmark + clearly stated broker markup
XTB: instrument-specific daily swap rate incorporating XTB’s margin
And unlike IG/CMC, there isn’t the same clear no-overnight-financing forward/futures alternative.
Who Is XTB Best For?
- Newer CFD traders who want a straightforward proprietary platform.
- Traders who value integrated news, sentiment and analysis inside the trading platform.
- Traders comfortable checking instrument-specific swap rates before opening a longer-term CFD position.
Verdict
XTB is our beginner-friendly pick rather than our cheapest long-term CFD broker. xStation makes it relatively easy to research, open and monitor positions, but longer-term traders need to check the current instrument-specific swap rate before opening a CFD because XTB doesn’t provide one simple headline funding markup that applies across all markets.
No Minimum Deposit
Best for Investing
XTB offers a proprietary platform with incredible trading resources & educational material in an easy-to-use, low cost trading environment. Perfect for currency traders.
73% of retail investor accounts lose money when trading CFDs with XTB Limited. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
5. SpreadEx: Best for Long-Term Share CFDs
SpreadEx: Great Share CFD Options & Forwards
If you are looking to trade share CFds and forwards, then SpreadEx is definitely a broker to consider..
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Why SpreadEx is Good for Long-Term CFD Positions
SpreadEx is interesting because I’d not judge it using one financing number. Its rates vary materially by market. For FTSE 350 shares, its broker financing charge is 3%, putting it broadly alongside IG and CMC. For most major indices, however, it’s 3.5%, which makes it more expensive than Pepperstone (2.5%), IG/CMC (~3%), and Spreadex (3.5%). FX also has a 1.5% Spreadex charge, versus roughly 1% at IG and CMC.
Where Spreadex becomes more attractive is shares and futures.
It offers futures with no separate overnight charge, with the financing reflected in the futures price instead. Spreadex also lets traders automatically roll futures when they expire, like CMC.
CFD Costs for Long-Term Positions
Overnight financing rate
- Benchmark/base rate: Spreadex uses Adjusted Alternative Reference Rates (ARRs) for shares and indices (e.g. SONIA for GBP, SOFR for USD and €STR for EUR. FX uses the Tom-Next rate.)
- Broker markup/admin rate:
- FTSE 350 shares: 3% p.a.
- Indices: 3.5% p.a.
- Spot FX: 1.5% p.a.
- Spot commodities: generally 3.5% p.a. admin fee, with additional market/basis adjustments depending on the commodity.
Spreadex isn’t one flat rate. Shares can be relatively competitive at 3%, but indices and commodities are 3.5%, while FX is 1.5%.
Weekend financing
- Shares and indices: funding is tripled on Friday to cover the weekend.
- FX: slightly unusual: Tom-Next is tripled Wednesday, while Spreadex’s own 1.5% charge is tripled Friday.
- Commodities generally also account for the weekend on Friday; Gold/Silver have Wednesday Tom-Next treatment similar to FX.
Long vs short financing
- Long: benchmark/reference rate + Spreadex’s fee.
- Short: Spreadex’s fee is deducted from the benchmark rate, so you can receive interest if the benchmark rate is high enough.
Share borrow fees
Yes. Short share CFDs can incur an additional daily stock-borrow charge. For normally borrowable shares, Spreadex says the charge reflects the underlying borrow rate. If borrow isn’t readily available, the charge can be much higher, typically around 10% p.a. in some cases, and potentially higher.
This is particularly important for long-term short positions.
Commodity/futures carry adjustments
Spot commodities have a 3.5% annualised admin fee.
- Gold/Silver: Tom-Next + 3.5% admin fee
- Energies/soft commodities: futures basis adjustment + 3.5% admin fee.
The basis adjustment can be a debit or credit, but Spreadex says the 3.5% admin fee is the actual ongoing holding charge.
Futures/forward CFD alternative
Futures are available across indices, commodities and FX, with quarterly/futures contracts also used for some shares.
- Overnight financing? None. Spreadex states futures have no overnight holding charge because financing is built into the futures price.
- Expiry/rollover: Contracts expire and can be rolled. Spreadex’s KIDs say the rollover cost is half the applicable spread to open and close the new contract.
This is a strong feature for long-term positions, similar to IG, CMC and Pepperstone.
Spread
Spread applies when opening and closing. For non-share CFDs such as indices, FX and commodities, the spread is generally the main entry/exit trading charge.
Commission
- Share CFDs: commission applies on each trade as well as the underlying market spread.
- The exact commission is stock-specific, rather than one universal rate; Spreadex’s individual CFD pages show rates such as 0.1% on some US securities.
- Indices, commodities and FX: generally no separate commission.
FX conversion fee
A currency-conversion fee applies when CFD profits, losses, adjustments or charges are in a currency different from your account currency. The KIDs confirm the charge but don’t state a single percentage, so I wouldn’t put a number in the article unless Spreadex gives us a current rate elsewhere.
Other account/platform fees
- Account fee: None
- Inactivity fee: None
- Guaranteed-stop premiums can apply depending on the market.
- The “distributor fee” mentioned in the KIDs is not another fee added on top; it means Spreadex may share some of the fees it already earns with an introducer.
Verdict
The key numbers for our comparison are:
Shares: ARR + 3%
Indices: ARR + 3.5%
FX: Tom-Next + 1.5%
Commodities: 3.5% admin + relevant carry adjustment
Futures: no overnight financing
So immediately, Spreadex looks competitive for long-term share CFDs, but a little more expensive than IG/CMC/Pepperstone on indices and FX based purely on the broker markup. The futures alternative helps substantially.
Who Is SpreadEx For?
- UK share CFD traders, particularly those trading FTSE 350 shares where its published financing charge is competitive.
- Traders who use both rolling CFDs and futures, depending on how long they intend to keep a position open.
- UK-focused traders who value having CFD and spread-betting products available through the same provider.
Verdict
SpreadEx is best for UK-focused traders holding share CFDs or using futures rather than repeatedly financing daily rolling positions, particularly for traders interested in UK shares and the ability to move between rolling and futures-style positions.
£5 Minimum Deposit
Best Mobile App
SpreadEx is a broker that just works. Easy to use, great professional feel and exceptional proprietary platforms.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
How We Ranked the Best CFD Brokers for Longer-Term Trading?
Let’s clarify what we looked at to rank these brokers:
Overnight funding costs
We looked at the market/reference rate used and, where available, the broker’s own financing markup.
Forward and futures alternatives
Brokers offering longer-dated contracts without a separate daily overnight funding charge get an advantage for traders planning to hold positions for weeks or months.
Spreads, commissions and conversion costs
Overnight funding matters more as the holding period increases, but spreads, share-CFD commissions and currency conversion can still materially affect the overall cost.
Market range and platform quality
A cheap broker isn’t much use if it doesn’t offer the market you want to trade or the platform you prefer.
Fee transparency and account costs
We also considered how easy it is to understand the broker’s financing rates, alongside additional costs such as inactivity fees and short-stock borrowing charges.
FAQs
Do CFDs charge overnight fees?
Usually, yes. If you keep a cash CFD open past the broker’s daily cut-off time, an overnight funding or holding charge will normally apply. The exact calculation varies between brokers and markets.
Forward and futures CFDs work differently because financing is generally reflected in the contract price rather than charged separately each night.
How much does it cost to hold a CFD overnight?
It depends on the broker, market and size of your position.
For many share and index CFDs, the cost is based on a market interest rate plus the broker’s own financing markup. In this comparison, published broker markups on major index CFDs range from around 2.5% at Pepperstone to 3.5% at Spreadex, before the relevant benchmark rate is added.
XTB uses instrument-specific swap rates instead of one simple annual markup.
Are CFD overnight fees charged on my margin or the whole position?
They are generally calculated using the full value of your CFD position, rather than just the margin you deposited.
This matters because leverage can make the position considerably larger than the cash committed to the trade.
Can you hold a CFD for weeks or months?
Yes. Rolling cash CFDs don’t normally have a fixed expiry date, so they can potentially remain open for weeks or months provided you maintain sufficient margin.
The important consideration is cost. Overnight financing continues to accumulate while the position remains open, which can make a cash CFD increasingly expensive over longer periods.
Are CFD overnight fees charged at weekends?
Yes. Brokers generally account for weekend financing through a multi-day or triple funding adjustment on a particular day of the week.
The exact rollover day varies by product. Forex commonly has its weekend adjustment during the middle of the week because of currency settlement conventions.
Do short CFD positions pay overnight fees?
Not always.
Depending on interest rates and the broker’s calculation, a short CFD can sometimes receive a financing credit. However, the broker’s own financing charge is still taken into account.
Short share CFDs can also incur an additional stock-borrow fee, particularly when the underlying shares are difficult or expensive to borrow.
What is the difference between a cash CFD and a forward CFD?
A cash CFD normally has a tighter spread but charges overnight financing when held beyond the trading day.
A forward or futures CFD normally has a wider spread and an expiry date, but there is generally no separate daily overnight funding charge because the cost of financing is reflected in the contract price.
For this reason, forwards can be worth comparing with cash CFDs when you already expect to hold a position for several weeks or months.
Which broker has the lowest CFD overnight fees?
There isn’t one cheapest broker across every market. For the brokers we compared, Pepperstone has the lowest published broker markup on major cash index CFDs at 2.5% above the relevant reference rate.
IG and CMC are around 3%, while Spreadex charges around 3.5% on most major indices. XTB instead publishes individual long and short swap rates for each instrument.
The cheapest option therefore depends on what you trade and whether a suitable forward or futures CFD is available.
Which broker is best for holding CFDs longer term?
We rate IG as the best overall option because it combines competitive financing with a very large market range and an extensive choice of futures and forward CFDs.
Pepperstone stands out for lower published index financing and low-cost forex trading, while CMC Markets is particularly strong for traders who want a large multi-asset range and access to forwards.
Do forward CFDs have no financing costs?
Not exactly. They generally have no separate overnight funding charge, but that doesn’t mean financing is free. The cost of carrying the position is reflected in the forward or futures price.
Forward contracts can therefore make costs easier to manage for longer planned positions, but traders should still compare the total price, spread and rollover costs.
Final Thoughts
If you’re keeping a CFD open for more than a day, don’t choose a broker based on the spread alone. The longer the position stays open, the more important overnight funding, the broker’s financing markup and the availability of forward or futures CFDs become.
IG is our best overall choice because it combines competitive holding costs with more than 17,000 markets and a strong range of futures and forward CFDs.
Pepperstone is particularly attractive on cost, with a 2.5% financing markup on major index CFDs and Razor forex spreads from 0.0 pips.
CMC Markets is very close to IG on financing and offers an excellent range of forward contracts, while XTB is our beginner-friendly choice thanks to its accessible xStation platform. Spreadex stands out most for UK share CFDs and traders who want to move between rolling and futures-style positions.
The most important decision, however, isn’t always which broker to use. It’s which type of CFD to use.
If you’re holding a position for a few days, a rolling cash CFD may make perfect sense. If you already expect to keep an index or commodity position open for several months, compare the cash CFD’s accumulated overnight charges with the price and spread of the equivalent forward or futures CFD before opening the trade.
That can make a much bigger difference to the eventual cost than saving a fraction of a point on the opening spread.
Resources on CFD Broker Holding Costs
- IG Charges Guide
- CMC Spread Betting Costs
- CMC CFD Trading Costs
- XTB CFD Trading Costs
- SpreadEx Charges / KIDs
- Pepperstone vs City Index UK Broker Comparison - August 6, 2026
- Best High Volume Brokers for UK Traders - July 22, 2026
- Best Brokers for Professional Traders in the UK - July 9, 2026
