With 100 contracts, every point that the bid quote on AAPL rises above 152 you will make a profit of $100 USD, and for every point the bid quote falls below 152 you will lose $100 USD.
To calculate the net profit you must include any financing or dividend adjustments. In the case of a ‘long’ position interest is credited and in the case of a ‘short’ position interest is debited.
The US Internal Revenue Service (IRS) requires all non-US resident holders of US equity derivatives – (this includes CFDs ) to be taxed on dividend adjustments.
When trading any US listed equities with BKS Fintech, the Dividend adjustments on your long positions are credited to your account, and the applicable withholding taxes are automatically deducted.
The deduction rate varies depending on the underlying market, but where a treaty between Australia and the relevant market exists, the rate may be reduced to 15%. Please note that the withholding tax deduction doesn't apply to short positions.
If you are an INDIVIDUAL and want the applicable reduced rate, please fill out "Form W-8BEN" and upload it to your Client Area.
If you are an ENTITY and want the applicable reduced rate, please fill out "Form W-8BEN-E" and upload it to your Client Area.
For further information please do not hesitate to contact our Support Team
From the 1st September 2020, there will be a market data fee fixed at $22 AUD per month. This fee is charged once per calendar month directly to your account, after the end of the month in which you accessed the market data, e.g. the monthly data fee will be applied at the beginning of October to all traders who have accessed the market data during the month of September, and so forth.
If you have multiple accounts and/or if you access the market data multiple times, you will only be charged once. If you have access to ASX share CFDs market data you do not need to make any changes to your account, this charge will be automatically applied each month.
Regardless of the value of your trade, starting from the first of September 2020 you will be charged a minimum commission fee of $7 AUD per trade on the spot on your account.