{ "url": "https://thetraderwiki.com/en/how-cfd-trading-works/", "canonical": "https://thetraderwiki.com/en/how-cfd-trading-works/", "html": "https://thetraderwiki.com/en/how-cfd-trading-works/", "markdown": "https://thetraderwiki.com/en/how-cfd-trading-works/index.md", "lang": "en", "dir": "ltr", "kind": "article", "key": "how-cfd-trading-works", "title": "How CFD trading works, from quote to statement", "h1": "How CFD trading works: a trade from start to finish", "description": "How CFD trading works step by step: the quote and spread, order types, fills and slippage, margin, daily financing, closing out, and your statement.", "keywords": [ "how CFD trading works", "CFD trading", "how does CFD trading work", "CFD order types", "CFD slippage", "CFD margin close-out" ], "published": "2026-09-05", "updated": "2026-10-15", "author": { "name": "Sebastian M.", "url": "https://thetraderwiki.com/en/authors/sebastian-m/" }, "publisher": { "name": "TheTraderWiki", "url": "https://thetraderwiki.com/" }, "riskWarning": "CFDs are complex, leveraged products, and the regulators’ own figures show that most retail accounts lose money. Nothing on TheTraderWiki is investment advice. Read the full risk disclosure, and if you’re unsure, talk to a qualified adviser. Broker details can change and they can be wrong. Before you open an account, confirm them with the broker and the regulator’s register.", "breadcrumbs": [ { "name": "Home", "url": "https://thetraderwiki.com/en/" }, { "name": "Guides", "url": "https://thetraderwiki.com/en/learn/" }, { "name": "How a trade works", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/" } ], "lead": [ "CFD trading works the same way in every market because every CFD trade passes through the same stages. You see two prices and place an order, but the price you’re filled at may not match the one on your screen. The provider holds margin, a deposit set aside from your account, for as long as the trade is open and charges financing each night. The trade ends when you close it or when the provider’s close-out rule shuts it because your account runs too low. Knowing these stages before you start means your statement makes sense when it arrives.", "This page is about a retail account where the company that opens your account is regulated in the EU, the UK or Australia. The trading process at a global company within the same group works in a similar way, though the protections are not the same." ], "leadLinks": [ { "label": "margin", "url": "https://thetraderwiki.com/en/glossary/#margin", "type": "internal" }, { "label": "close-out", "url": "https://thetraderwiki.com/en/glossary/#margin-close-out", "type": "internal" }, { "label": "the company that opens your account", "url": "https://thetraderwiki.com/en/broker-groups-and-regulators/", "type": "internal" }, { "label": "global company", "url": "https://thetraderwiki.com/en/offshore-brokers/", "type": "internal" } ], "blocks": [ { "type": "list", "id": "key-points", "heading": "Key points", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#key-points", "ordered": false, "items": [ "Every CFD has a bid and an ask. You open a long trade at the ask and close it at the bid, so you pay the spread, the gap between the two, before anything else happens.", "An order tells your provider what to do, but it is not a promise. A market order fills at the next available price. A stop order can fill past its level when the price jumps.", "Your margin stays locked up for as long as the trade is open. Every night you hold the trade, financing is charged on its notional value, the full value of the trade.", "If the company that opens your account is regulated in the EU or the UK, a rule from ESMA and the FCA applies. The rule says your provider closes out a retail account when its equity falls to 50 % of the margin it needs (ESMA Decision (EU) 2018/796, FCA PS19/18).", "Because your statement shows each stage as its own line, your closing balance often differs from the profit or loss on the price move alone." ], "links": [ { "label": "spread", "url": "https://thetraderwiki.com/en/glossary/#spread", "type": "internal" }, { "label": "notional value", "url": "https://thetraderwiki.com/en/glossary/#notional-value", "type": "internal" }, { "label": "ESMA", "url": "https://www.esma.europa.eu/", "type": "source", "title": "European Securities and Markets Authority", "publisher": "ESMA" }, { "label": "FCA", "url": "https://www.fca.org.uk/", "type": "source", "title": "Financial Conduct Authority", "publisher": "FCA" }, { "label": "ESMA Decision (EU) 2018/796", "url": "https://eur-lex.europa.eu/eli/dec/2018/796/oj", "type": "source", "title": "ESMA Decision (EU) 2018/796 of 22 May 2018 to temporarily restrict contracts for differences in the Union", "publisher": "Official Journal of the European Union (EUR-Lex)" }, { "label": "FCA PS19/18", "url": "https://www.fca.org.uk/publications/policy-statements/ps19-18-restricting-contract-difference-products-sold-retail-clients", "type": "source", "title": "PS19/18: Restricting contract for difference products sold to retail clients", "publisher": "FCA" } ] }, { "type": "prose", "id": "quote-and-spread", "heading": "The quote and the spread", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#quote-and-spread", "paragraphs": [ "Every CFD trade costs the spread, whatever the market does next. The spread is the gap between the two prices in the provider’s quote. The ask is what the provider charges when you buy, and the bid is what it pays when you sell. To go long you buy at the ask and later sell at the bid. To go short you sell at the bid and later buy at the ask. Both your opening and closing trade happen on the worse side of the quote, so each round trip costs the full spread.", "Quotes follow the underlying market but aren’t that market. For a share CFD, the quote tracks the exchange’s best bid and offer, and providers make money from it in one of two ways. Some pass on the exchange spread without change and charge a commission on each trade, while others add their own spread and charge no commission (shares and crypto CFDs). For a currency CFD, the quote is a blend the provider creates from bank prices. For an index CFD, the provider builds the price from the index futures contract traded on an exchange, and adjusts it for dividends and interest. In every case the provider can widen the spread and it does this at the open, around scheduled data releases and overnight when the underlying market is closed (trading hours).", "The costs and fees page shows you how the spread is measured and how it stacks up against commission." ], "links": [ { "label": "shares and crypto CFDs", "url": "https://thetraderwiki.com/en/shares-and-crypto-cfds/#commission-model", "type": "internal" }, { "label": "futures", "url": "https://thetraderwiki.com/en/glossary/#futures-contract", "type": "internal" }, { "label": "scheduled data releases", "url": "https://thetraderwiki.com/en/economic-calendar/#spreads-and-slippage", "type": "internal" }, { "label": "trading hours", "url": "https://thetraderwiki.com/en/trading-hours/#cfd-hours", "type": "internal" }, { "label": "costs and fees", "url": "https://thetraderwiki.com/en/costs-and-fees/#spread", "type": "internal" } ] }, { "type": "deflist", "id": "order-types", "heading": "Order types", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#order-types", "intro": [ "Order types on a CFD trading platform let you instruct your provider when to open or close a trade and at what price. Every type trades off some certainty about whether you’ll be filled for some certainty about the price, or the reverse. The stop loss and order types page explores each one in more detail." ], "items": [ { "term": "Market order", "definition": "A market order is an instruction to open or close straight away at the next available price. You see one price when you click, but the order fills at whatever the quote is when the provider processes it. In a fast market the two prices can differ. Even so, the order is almost certain to be filled." }, { "term": "Limit order", "definition": "A limit order is an instruction to open or close at a set price or better. Buy limits sit below the current price, while sell limits sit above it. Your price is protected, but the fill isn’t, because the market may never reach your level." }, { "term": "Stop-entry order", "definition": "An instruction to open a trade only after the price moves past its current level to a point you set. You use it to enter a move that’s already underway instead of guessing where a move will begin. When the price hits that level, the order turns into a market order and fills at the next available price." }, { "term": "Stop-loss order", "definition": "A stop-loss is an instruction to close a trade once the price moves to a set level against you. Stop-loss orders limit your loss in normal conditions. When triggered, a stop-loss becomes a market order and can fill past your level if the price jumps (risk management)." }, { "term": "Trailing stop", "definition": "A trailing stop is a stop-loss that moves with the price when it goes in your favour, keeping a set distance, but holds still when the price reverses. The stop follows a trend automatically, with no input from you. Set the distance too tight and ordinary price swings will trigger it." }, { "term": "One-cancels-the-other (OCO)", "definition": "A pair of orders, usually a stop-loss and a take-profit, linked so that filling one cancels the other. You set your exit on both sides straight away by opening the trade with an OCO pair. The take-profit closes your trade if the price reaches a set level in your favour." } ], "links": [ { "label": "trading platform", "url": "https://thetraderwiki.com/en/trading-platforms/", "type": "internal" }, { "label": "stop loss and order types", "url": "https://thetraderwiki.com/en/stop-loss-orders/#order-types", "type": "internal" }, { "label": "stop-loss", "url": "https://thetraderwiki.com/en/glossary/#stop-loss", "type": "internal" }, { "label": "risk management", "url": "https://thetraderwiki.com/en/risk-management/#stop-types", "type": "internal" }, { "label": "trailing stop", "url": "https://thetraderwiki.com/en/glossary/#trailing-stop", "type": "internal" }, { "label": "take-profit", "url": "https://thetraderwiki.com/en/glossary/#take-profit", "type": "internal" } ] }, { "type": "prose", "id": "execution-and-slippage", "heading": "Execution and slippage", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#execution-and-slippage", "paragraphs": [ "Execution is when the provider accepts your order and books the trade at a given price. Slippage is the gap between that price and the one you expected. It’s normal in fast markets, since the quote can change after you click and before the provider processes the order. Slippage can work for you or against you, and the provider’s execution policy states whether a better price is passed on to you or kept.", "A requote occurs when your provider rejects your order and gives you a new price. You can find the questions an order-execution policy should answer on the choosing a provider page. That page includes details on how quickly orders are filled, how slippage is managed in both directions and the conditions under which an order is rejected." ], "links": [ { "label": "Slippage", "url": "https://thetraderwiki.com/en/glossary/#slippage", "type": "internal" }, { "label": "choosing a provider", "url": "https://thetraderwiki.com/en/choosing-a-provider/#execution-policy", "type": "internal" } ] }, { "type": "prose", "id": "margin-held", "heading": "Margin held while your trade is open", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#margin-held", "paragraphs": [ "When you have a CFD trade open, the margin held is the deposit your provider reserves in your account for that trade. It equals a percentage of the notional value, as set by the provider. If the company that opens your account is regulated in the EU, the UK or Australia, this margin never falls below the regulator’s minimum for that asset type. The provider can raise the margin for a fast-moving market or for a very large trade, and the amount depends on what you’re trading. Your balance doesn’t drop when margin is held, because the margin comes out of your free equity. The platform recalculates the margin all the time as the price moves.", "When the price goes against you, your equity falls but the margin requirement stays the same, so the ratio between equity and margin drops. Your platform uses several terms for this, all explained on the leverage and margin page: initial margin, maintenance margin, free margin and margin level. Free margin is the money left over to open new trades or absorb losses. Margin level is your equity divided by the margin in use, as a percentage." ], "links": [ { "label": "leverage and margin", "url": "https://thetraderwiki.com/en/leverage-and-margin/#margin-terms", "type": "internal" }, { "label": "free margin", "url": "https://thetraderwiki.com/en/glossary/#free-margin", "type": "internal" }, { "label": "margin level", "url": "https://thetraderwiki.com/en/glossary/#margin-level", "type": "internal" } ] }, { "type": "prose", "id": "daily-financing", "heading": "Daily financing on trades held overnight", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#daily-financing", "paragraphs": [ "Daily financing on a CFD is known as overnight financing or swap. You’re charged this amount for any trade still open at your provider’s end-of-day cut-off, and now and then it’s a credit instead. The charge is based on the full notional value and calculated using a yearly rate your provider sets, linked to a benchmark interest rate. For a long trade, you pay the benchmark plus the provider’s mark-up. With a short trade, you receive the benchmark minus the mark-up, but when rates are low, this becomes a payment you make.", "Currency CFDs base their financing on the difference between the two currencies’ interest rates, so the charge can be positive or negative depending on which way you trade (forex trading).", "Financing makes how long you hold a trade the most important decision after its size. If you keep a trade open for weeks, you pay financing each night. Most platforms charge three nights’ worth in one go on a single night each week, to account for the weekend (costs and fees)." ], "links": [ { "label": "overnight financing", "url": "https://thetraderwiki.com/en/glossary/#overnight-financing", "type": "internal" }, { "label": "forex trading", "url": "https://thetraderwiki.com/en/forex-trading/#swap-and-carry", "type": "internal" }, { "label": "costs and fees", "url": "https://thetraderwiki.com/en/costs-and-fees/#weekend-charge", "type": "internal" } ] }, { "type": "prose", "id": "closing-or-close-out", "heading": "Closing your trade, or being closed out", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#closing-or-close-out", "paragraphs": [ "To close a CFD trade, you make the opposite deal at the current quote. You can do this yourself, or the provider may do it for you. Sell a long trade to close it, or buy back a short one. You can close the whole trade or part of it. When you close, your profit or loss becomes real and the margin is released, so you can use it for other trades.", "When your equity falls to 50 % of the total margin for your open trades, a company regulated in the EU or the UK closes you out. Your equity is your balance adjusted by the profit or loss on trades still open. If your open trades need 1,000 of margin, the provider closes you out when your equity drops to 500. ESMA set this threshold for retail accounts in 2018 and the FCA made it part of its permanent rules (ESMA Decision (EU) 2018/796, PS19/18). A global company sets its close-out level in its own terms.", "A close-out isn’t a favour, and you don’t get a say in it. The provider shuts some or all of your trades at whatever the market price is at that instant, and that often happens at the worst point of a move. The rule is there to stop your loss at what is in the account and to keep it from going any further. Which trades the provider closes first is set out in its terms." ], "links": [ { "label": "ESMA Decision (EU) 2018/796", "url": "https://eur-lex.europa.eu/eli/dec/2018/796/oj", "type": "source", "title": "ESMA Decision (EU) 2018/796 of 22 May 2018 to temporarily restrict contracts for differences in the Union", "publisher": "Official Journal of the European Union (EUR-Lex)" }, { "label": "PS19/18", "url": "https://www.fca.org.uk/publications/policy-statements/ps19-18-restricting-contract-difference-products-sold-retail-clients", "type": "source", "title": "PS19/18: Restricting contract for difference products sold to retail clients", "publisher": "FCA" } ] }, { "type": "steps", "id": "lifecycle", "heading": "A trade from start to finish", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#lifecycle", "basis": "illustrative", "basisLabel": "Illustrative figures: a made-up example, not a forecast or a quote.", "intro": [ "A trade from start to finish, with invented prices, shows how the stages fit together. Imagine your account holds 2,000 and you decide to go long on a share CFD. The quote shows a bid of 9.98 and an ask of 10.02, and the margin requirement is set at 20 %." ], "howto": false, "items": [ { "id": "lifecycle-step-1", "title": "Quote", "text": "The platform shows 9.98 bid and 10.02 ask, so the spread is 0.04." }, { "id": "lifecycle-step-2", "title": "Order", "text": "You place a market order to buy 1,000 units. At 10.02 that trade would be worth 10,020 and need 2,004 of margin, a little more than the 2,000 in your account. The platform rejects the order for lack of margin, so you try again with 900 units, which need 1,803.60." }, { "id": "lifecycle-step-3", "title": "Trade open", "text": "The platform books you long 900 at 10.02, with 1,803.60 of margin held. At the current bid of 9.98 you’re already showing a loss of 36 (900 × 0.04). That’s the spread. Your equity is 2,000 − 36 = 1,964, so your free margin is 1,964 − 1,803.60 = 160.40." }, { "id": "lifecycle-step-4", "title": "Overnight", "text": "At the cut-off the trade is still open. With a benchmark rate of 4 % and a mark-up of 2.5 %, the yearly financing rate is 6.5 %. One night costs 9,018 × 6.5 % ÷ 365, about 1.61." }, { "id": "lifecycle-step-5", "title": "Price falls", "text": "The next morning the share opens at 9.80 bid after weak results. Your open loss is 900 × (10.02 − 9.80) = 198. Equity is 2,000 − 198 − 1.61 = 1,800.39, or 99.8 % of the 1,803.60 margin. The trade is still open, but you have no free equity left." }, { "id": "lifecycle-step-6", "title": "Close-out level", "text": "At a company regulated in the EU, your equity would reach 901.80 after a loss of about 1,098, triggering a close-out at 50 % of margin (ESMA Decision (EU) 2018/796). That means a fall in the bid to roughly 8.80 (900 × 1.22 = 1,098). If the price jumped straight through that level, the trade would close at the first available price below it." }, { "id": "lifecycle-step-7", "title": "Close", "text": "You close at 9.85 bid the same afternoon. Your realised loss is 900 × (10.02 − 9.85) = 153, plus 1.61 of financing. The margin is released and your balance is 1,845.39." } ], "outro": [ "The example ends with a loss of 154.61, about 7.7 % of the account. The bid fell 1.3 %, from 9.98 to 9.85. That move cost 117, calculated as 900 × 0.13. The spread of 36 and one night’s financing of 1.61 make up the rest, about a quarter of the loss." ], "links": [ { "label": "ESMA Decision (EU) 2018/796", "url": "https://eur-lex.europa.eu/eli/dec/2018/796/oj", "type": "source", "title": "ESMA Decision (EU) 2018/796 of 22 May 2018 to temporarily restrict contracts for differences in the Union", "publisher": "Official Journal of the European Union (EUR-Lex)" } ] }, { "type": "table", "id": "statement-lines", "heading": "What the statement shows", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#statement-lines", "basis": "illustrative", "basisLabel": "Illustrative figures: a made-up example, not a forecast or a quote.", "intro": [ "A CFD trade statement sets out every stage on its own line. Only by going through it line by line can you reliably track where your money went. The example trade shows 900 units bought at 10.02, then sold at 9.85 after one night." ], "caption": "Example statement lines for a 900-unit share CFD held overnight.", "head": [ "Line", "Description", "Amount" ], "rows": [ [ "Opening trade", "Buy 900 at 10.02, notional 9,018.00", "0.00" ], [ "Margin held", "20 % of notional, released on close", "1,803.60" ], [ "Overnight financing", "9,018 × 6.5 % ÷ 365", "−1.61" ], [ "Closing trade", "Sell 900 at 9.85", "−153.00" ], [ "Net change to balance", "Closing trade plus financing", "−154.61" ], [ "Closing balance", "From an opening balance of 2,000.00", "1,845.39" ] ], "numericColumns": [ 2 ], "outro": [ "Two costs appear across the six lines. The spread forms part of the opening and closing prices, while you’re usually charged overnight financing no matter which way the price goes. Both reduce your gain when a trade wins." ] }, { "type": "callout", "id": "stops-are-not-guarantees", "heading": "Stop-loss orders only limit losses in calm markets", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#stops-are-not-guarantees", "variant": "warning", "label": "Risk warning", "paragraphs": [ "Stop-loss orders only limit how much you lose in markets that are calm and orderly. Once a stop triggers, it becomes a market order and fills at whatever price comes next. The fill can land far from your stop level when the price gaps past it, at the open or on news. Your loss can also grow far larger than expected. A stop-loss can’t get rid of this risk. If you’re a retail client of a company regulated in the EU or the UK, negative balance protection keeps your loss to your account balance, not to your stop level (ESMA Decision (EU) 2018/796)." ], "links": [ { "label": "gaps", "url": "https://thetraderwiki.com/en/glossary/#gap-risk", "type": "internal" }, { "label": "retail client", "url": "https://thetraderwiki.com/en/glossary/#retail-client", "type": "internal" }, { "label": "negative balance protection", "url": "https://thetraderwiki.com/en/glossary/#negative-balance-protection", "type": "internal" }, { "label": "ESMA Decision (EU) 2018/796", "url": "https://eur-lex.europa.eu/eli/dec/2018/796/oj", "type": "source", "title": "ESMA Decision (EU) 2018/796 of 22 May 2018 to temporarily restrict contracts for differences in the Union", "publisher": "Official Journal of the European Union (EUR-Lex)" } ] }, { "type": "faq", "id": "cfd-trading-questions", "heading": "Common questions about how CFD trading works", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#cfd-trading-questions", "intro": [ "Common questions about how CFD trading works include what it is, how a trade makes or loses money, how you begin and when the markets are open." ], "items": [ { "id": "what-is-cfd-trading", "question": "What is CFD trading?", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#what-is-cfd-trading", "answer": [ "CFD trading means buying and selling contracts for difference. These contracts pay you or charge you based on how the price of an asset changes, but you don’t own the asset. You place trades with a provider, not on an exchange, and only a portion of the trade’s value is needed as margin. The what is a CFD page covers the details of the contract." ] }, { "id": "how-does-cfd-trading-work", "question": "How does CFD trading work?", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#how-does-cfd-trading-work", "answer": [ "CFD trading happens in stages. The provider quotes two prices and you place an order. The provider fills that order and holds margin while the trade stays open. For each night you hold the trade, it charges financing. Once the trade closes, the price change multiplied by your trade size is added to or taken from your balance, minus the costs." ] }, { "id": "how-to-start-cfd-trading", "question": "How do you start CFD trading?", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#how-to-start-cfd-trading", "answer": [ "Starting CFD trading means picking a regulated provider, passing its knowledge checks and paying into your account. Many people first practise on a demo account, which uses pretend money. The how to start trading page goes through the steps, and the account types page explains what standard, raw and swap-free accounts change." ] }, { "id": "when-can-you-trade-cfds", "question": "When can you trade CFDs?", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#when-can-you-trade-cfds", "answer": [ "You can trade a CFD whenever your provider quotes it, and those hours match the market underneath. Currency CFDs are open around the clock from Monday to Friday. Share CFDs open and close with their stock exchange. Many providers also quote crypto CFDs over the weekend. The trading hours page lists the sessions." ] } ], "links": [ { "label": "what is a CFD", "url": "https://thetraderwiki.com/en/what-are-cfds/", "type": "internal" }, { "label": "demo account", "url": "https://thetraderwiki.com/en/demo-accounts/", "type": "internal" }, { "label": "how to start trading", "url": "https://thetraderwiki.com/en/how-to-start-trading/#seven-steps", "type": "internal" }, { "label": "account types", "url": "https://thetraderwiki.com/en/trading-account-types/", "type": "internal" }, { "label": "trading hours", "url": "https://thetraderwiki.com/en/trading-hours/#cfd-hours", "type": "internal" } ] }, { "type": "sources", "id": "sources", "heading": "Sources", "url": "https://thetraderwiki.com/en/how-cfd-trading-works/#sources", "intro": [ "The original documents this page cites, in the order they first appear." ], "items": [ { "key": "esma", "title": "European Securities and Markets Authority", "publisher": "ESMA", "url": "https://www.esma.europa.eu/" }, { "key": "fca", "title": "Financial Conduct Authority", "publisher": "FCA", "url": "https://www.fca.org.uk/" }, { "key": "esma-2018-decision", "title": "ESMA Decision (EU) 2018/796 of 22 May 2018 to temporarily restrict contracts for differences in the Union", "publisher": "Official Journal of the European Union (EUR-Lex)", "date": "2018-05-22", "url": "https://eur-lex.europa.eu/eli/dec/2018/796/oj" }, { "key": "fca-ps19-18", "title": "PS19/18: Restricting contract for difference products sold to retail clients", "publisher": "FCA", "date": "2019-07-01", "url": "https://www.fca.org.uk/publications/policy-statements/ps19-18-restricting-contract-difference-products-sold-retail-clients" } ] } ], "related": [ { "title": "What is a CFD? Contract for difference explained", "url": "https://thetraderwiki.com/en/what-are-cfds/", "blurb": "What a contract for difference is, a worked example with numbers, and what the contract doesn’t give you." }, { "title": "What is leverage in trading? Leverage and margin", "url": "https://thetraderwiki.com/en/leverage-and-margin/", "blurb": "What leverage does to your buying power, the margin terms your platform uses and who sets the limits." }, { "title": "CFD and forex trading fees: spread, swap, commission", "url": "https://thetraderwiki.com/en/costs-and-fees/", "blurb": "Every cost of a CFD trade: spread, commission, overnight financing, weekend charges and account fees." }, { "title": "Stop loss and order types explained for CFD trading", "url": "https://thetraderwiki.com/en/stop-loss-orders/", "blurb": "Market, limit and stop orders, the stop-loss, the trailing stop, take-profit and partial close." }, { "title": "How to start trading: forex and CFDs for beginners", "url": "https://thetraderwiki.com/en/how-to-start-trading/", "blurb": "A beginner’s path in seven steps: the product, the costs, a demo, risk rules, a licensed provider, a record." } ], "series": { "key": "cfd-basics", "name": "CFD Basics", "position": 2, "total": 6, "articles": [ { "position": 1, "title": "What is a CFD? 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