テクニカル分析指標

CFD取引

CFD取引

What is leverage?

Leverage is a facility that enables you to get a much larger exposure to the market you’re trading than the amount you deposited to open the trade. Leveraged products, such as spread betting and CFDs, magnify your potential profit CFD取引 – but also your potential loss.

Leverage is a key feature of CFD trading and spread betting, and can be a powerful tool for a trader. You can use it to take advantage of comparatively small price movements, ‘gear’ your portfolio for greater exposure, CFD取引 CFD取引 or to make your capital go further. Here’s a guide to making the most out of leverage – including how it works, when it’s used, and how to keep your risk in check.

How does leverage work?

Leverage works by using a deposit, known as margin, to provide you with increased exposure to an underlying asset. Essentially, you’re putting down a fraction of the full value of your trade – and your provider is loaning you the rest.

Your total exposure compared to your margin is known as the leverage ratio.

For example, let’s say you want to buy 1000 shares of a company at a share price of 100p.

To open a conventional trade with a stockbroker, you would be required to pay 1000 x 100p for an exposure of £1000 (CFD取引 CFD取引 CFD取引 ignoring any commission or other charges). If the company’s share price goes up by 20p, your 1000 shares are now worth 120p each. If you close your position, then you’d have made a £200 profit from your original £1000.

Unleveraged

If the market had gone CFD取引 CFD取引 the other way and shares of the company had fallen by 20p, you would have lost £200, or a fifth of what you paid for the shares.

Or you could have opened your trade with a leveraged provider, who might have a margin requirement CFD取引 of 10% on the same shares.

Here, you’d only have to pay 10% of your £1000 exposure, or £100, to open the position.

If the company’s share price rises to 120p, you would still make the same profit of £200, but at a considerably reduced cost.

If the shares had fallen by 20p then you would have lost £200, which is twice your initial deposit.

Leveraged

Different types of leveraged products

The majority of leveraged trading uses derivative products, meaning you trade an instrument that takes its value from the CFD取引 CFD取引 price of the underlying asset, rather than owning the asset itself.

The main leveraged products are:

Spread betting (UK only)

A bet on the direction in which a market will move, which will earn more profit the more the market moves in your chosen CFD取引 direction – but more loss if it goes the other way.

Contracts for difference (CFDs)

An agreement with a provider to exchange the difference in price of a particular financial product between the time the position is opened and when it is closed.

Visit CFD取引 spread betting vs CFDs to learn more about the differences between these products.

There are lots of other leveraged products available, such as options, futures and some exchange-traded funds (ETFs). Though they work in different ways, all have the potential to increase profit as CFD取引 well as loss.

Which markets can you use leverage on?


    A share is a unit of ownership for a particular company, and is usually bought and sold on a stock exchange. You can use leveraged products to open positions on thousands of shares, from CFD取引 CFD取引 blue chips like Apple and Facebook, to penny stocks.

    An index is a numerical representation of the performance of a group of assets from a particular exchange, area, region or sector. As indices are not physical assets, they can only be traded via products CFD取引 that mirror their price movements – including spread betting, CFD trading and ETFs.

    Foreign exchange, or forex, is the buying and selling of currencies with the aim of making a profit. It is the most-traded financial market in the world. The relatively small movements involved in forex trading mean that many choose to trade using leverage.

    Cryptocurrencies are virtual currencies that can be traded in the same way as forex, but are independent of banks and governments. Leveraged products allow traders to gain exposure to major cryptocurrencies, such as bitcoin and ethereum, without tying up lots of capital.

Benefits of using leverage

Provided you understand how leveraged trading works, it can be an extremely powerful trading tool. Here are just a few of the benefits:

  • Magnified profits. You only have to put down a fraction of the value of your trade to receive the same profit as in a conventional trade. As profits are calculated using the full value of your position, margins can multiply your returns on successful trades – but also your losses CFD取引 CFD取引 CFD取引 on unsuccessful ones.
    See an example of magnified profit
  • Gearing opportunities. Using leverage can free up capital that can be committed to other investments. The ability to increase the amount available for investment is known as gearing
  • Shorting the market. Using leveraged CFD取引 CFD取引 products to speculate on market movements enables you to benefit from markets that are falling, as well as those that are rising – this is known as going short
  • 24-hour dealing. Though trading hours vary from market to market, certain markets – including CFD取引 key indices, forex and cryptocurrency markets – are available to trade around the clock

Drawbacks of using leverage

Though spread betting, CFDs and other leveraged products provide traders with a range of benefits, it is important to consider the potential downside of using such products as CFD取引 CFD取引 well. Here are a few key things to consider:

  • Magnified losses. Margins magnify losses as well as profits, and because your initial outlay is comparatively smaller than conventional trades, it is easy to forget the amount of capital you are placing at CFD取引 CFD取引 risk. So you should always consider your trade in terms of its full value and downside potential, and take steps to manage your risk
  • No shareholder privileges. When trading with leverage you give up the benefit of actually taking ownership of the asset. For CFCFD取引 D取引 instance, using leveraged products can have implications on dividend payments. Instead of receiving a dividend, the amount will usually be added or subtracted to your account, depending on whether your position is long or short
  • Margin calls. If your position moves against CFD取引 CFD取引 you, your provider may ask you to put up additional funds in order to keep your trade open. This is known as margin call, and you’ll either need to add capital or exit positions to reduce your total exposure
  • Funding charges. When using CFD取引 CFD取引 CFD取引 leverage you are effectively being lent the money to open the full position at the cost of your deposit. If you want to keep your position open overnight you will be charged a small fee to cover the costs of doing so

Leverage and risk CFD取引 management

Leveraged trading can be risky as losses may exceed your initial outlay, but there are numerous risk-management tools that can be used to reduce your potential loss, including:

Stops

Attaching a stop to your position can restrict your losses if a price moves against you. However, markets move quickly and certain conditions may result in your stop not being triggered at the price you’ve set.

Guaranteed stops

These work in the same way as basic stops, but will always be filled at exactly the level you’ve set, even if gapping CFD取引 CFD取引 or slippage occurs. If your stop is triggered, there will be a small premium to pay in addition to normal transaction fees.

Limited-risk account

This type of account ensures that your losses will not exceed the initial deposit required to open the trade, as all CFD取引 CFD取引 positions must have a guaranteed stop attached.

Using stops is a popular way to reduce the risk of leverage, but there are numerous other tools available – including price alerts and limit orders.

What is a leverage ratio?

Leverage ratio is a measurement of CFD取引 your trade’s total exposure compared to its margin requirement. Your leverage ratio will vary, depending on the market you are trading, who you are trading it with, and the size of your position.

Using the example from earlier, a 10% margin would provide the CFD取引 CFD取引 same exposure as a £1000 investment with just £100 margin. This gives a leverage ratio of 10:1.

Often the more volatile or less liquid an underlying market, the lower the leverage on offer in order to protect your position from rapid price movements. On CFD取引 the other hand, extremely liquid markets, such as forex, can have particularly high leverage ratios.

Here’s how different degrees of leverage affect your exposure (and thus profit potential and maximum loss) for an initial investment of £1000:

What is leverage?

Leverage is a facility that enables you to get a much larger exposure to the market you’re trading than the amount you deposited to open the trade. Leveraged products, such as spread betting and CFDs, magnify your potential profit – but also your potential loss.

Leverage is a key feature of CFD trading and spread betting, and can be a powerful tool for a trader. You can use it to take advantage of comparatively small price movements, ‘gear’ your portfolio for greater exposure, or to make your capital go further. Here’s CFD取引 a guide to making the most out of leverage – including how it works, when it’s used, and how to keep your risk in check.

How does leverage work?

Leverage works by using a deposit, known as margin, to provide you with increased CFD取引 exposure to an underlying asset. Essentially, you’re putting down a fraction of the full value of your trade – and your provider is loaning you the rest.

Your total exposure compared to your margin is known as the leverage ratio.

For example, let’s say CFD取引 CFD取引 CFD取引 you want to buy 1000 shares of a company at a share price of 100p.

To open a conventional trade with a stockbroker, you would be required to pay 1000 x 100p for an exposure of £1000 (ignoring any commission or other charges). If the company’s share price goes up by 20p, your 1000 shares are now worth 120p each. If you close your position, then you’d have made a £200 profit from your original £1000.

Unleveraged

If the market had gone the other way and shares of the CFD取引 CFD取引 company had fallen by 20p, you would have lost £200, or a fifth of what you paid for the shares.

Or you could have opened your trade with a leveraged provider, who might have a margin requirement of 10% on the same shares.

Here, CFD取引 you’d only have to pay 10% of your £1000 exposure, or £100, to open the position.

If the company’s share price rises to 120p, you would still make the same profit of £200, but at a considerably reduced cost.

If the shares had fallen CFD取引 CFD取引 by 20p then you would have lost £200, which is twice your initial deposit.

Leveraged

Different types of leveraged products

The majority of leveraged trading uses derivative products, meaning you trade an instrument that takes its value from the price of the underlying asset, rather than CFD取引 CFD取引 CFD取引 owning the asset itself.

The main leveraged products are:

Spread betting (UK only)

A bet on the direction in which a market will move, which will earn more profit the more the market moves in your chosen direction – but more loss if it CFD取引 goes the other way.

Contracts for difference (CFDs)

An agreement with a provider to exchange the difference in price of a particular financial product between the time the position is opened and when it is closed.

Visit spread betting vs CFDs to learn more CFD取引 CFD取引 about the differences between these products.

There are lots of other leveraged products available, such as options, futures and some exchange-traded funds (ETFs). Though they work in different ways, all have the potential to increase profit as well as loss.

Which markets can you CFD取引 CFD取引 CFD取引 CFD取引 use leverage on?


    A share is a unit of ownership for a particular company, and is usually bought and sold on a stock exchange. You can use leveraged products to open positions on thousands of shares, from blue chips like Apple and Facebook, to penny stocks.

    An index is a numerical representation of the performance of a group of assets from a particular exchange, area, region or sector. As indices are not physical assets, they can only be traded via products that mirror their price movements – including CFD取引 spread betting, CFD trading and ETFs.

    Foreign exchange, or forex, is the buying and selling of currencies with the aim of making a profit. It is the most-traded financial market in the world. The relatively small movements involved in forex trading mean that many choose to trade using leverage.

    Cryptocurrencies are virtual currencies that can be traded in the same way as forex, but are independent of banks and governments. Leveraged products allow traders to gain exposure to major cryptocurrencies, such as bitcoin and ethereum, without tying up CFD取引 CFD取引 lots of capital.

Benefits of using leverage

Provided you understand how leveraged trading works, it can be an extremely powerful trading tool. Here are just a few of the benefits:

  • Magnified profits. You only have to put down a fraction of the value CFD取引 of your trade to receive the same profit as in a conventional trade. As profits are calculated using the full value of your position, margins can multiply your returns on successful trades – but also your losses on unsuccessful ones.
    See an example of CFD取引 magnified profit
  • Gearing opportunities. Using leverage can free up capital that can be committed to other investments. The ability to increase the amount available for investment is known as gearing
  • Shorting the market. Using leveraged products to speculate on market movements enables CFD取引 CFD取引 you to benefit from markets that are falling, as well as those that are rising – this is known as going short
  • 24-hour dealing. Though trading hours vary from market to market, certain markets – including key indices, forex and cryptocurrency markets – CFD取引 CFD取引 are available to trade around the clock

Drawbacks of using leverage

Though spread betting, CFDs and other leveraged products provide traders with a range of benefits, it is important to consider the potential downside of using such products as well. Here are a few key things CFD取引 CFD取引 to consider:

  • Magnified losses. Margins magnify losses as well as profits, and because your initial outlay is comparatively smaller than conventional trades, it is easy to forget the amount of capital you are placing at risk. So you should always consider your CFD取引 CFD取引 CFD取引 CFD取引 trade in terms of its full value and downside potential, and take steps to manage your risk
  • No shareholder privileges. When trading with leverage you give up the benefit of actually taking ownership of the asset. For instance, using leveraged products can have CFD取引 CFD取引 CFD取引 implications on dividend payments. Instead of receiving a dividend, the amount will usually be added or subtracted to your account, depending on whether your position is long or short
  • Margin calls. If your position moves against you, your provider may ask you to put up additional funds in order to keep your trade open. This is known as margin call, and you’ll either need to add capital or exit positions to reduce your total exposure
  • Funding charges. When using leverage you are effectively being lent the CFD取引 CFD取引 money to open the full position at the cost of your deposit. If you want to keep your position open overnight you will be charged a small fee to cover the costs of doing so

Leverage and risk management

Leveraged trading can be risky as losses CFD取引 CFD取引 CFD取引 may exceed your initial outlay, but there are numerous risk-management tools that can be used to reduce your potential loss, including:

Stops

Attaching a stop to your position can restrict your losses if a price moves against you. However, markets move quickly and certain conditions may result in your stop not being triggered at the price you’ve set.

Guaranteed stops

These work in the same way as basic stops, but will always be filled at exactly the level you’ve set, even if gapping or slippage occurs. If your stop is CFD取引 CFD取引 CFD取引 triggered, there will be a small premium to pay in addition to normal transaction fees.

Limited-risk account

This type of account ensures that your losses will not exceed the initial deposit required to open the trade, as all positions must have a guaranteed stop attached.CFD取引 CFD取引

Using stops is a popular way to reduce the risk of leverage, but there are numerous other tools available – including price alerts and limit orders.

What is a leverage ratio?

Leverage ratio is a measurement of your trade’s total exposure compared to its margin requirement. Your leverage ratio will vary, depending on the market you are trading, who you are trading it with, and the size of your position.

Using the example from earlier, a 10% margin would provide the same exposure as a £1000 investment with CFD取引 CFD取引 just £100 margin. This gives a leverage ratio of 10:1.

Often the more volatile or less liquid an underlying market, the lower the leverage on offer in order to protect your position from rapid price movements. On the other hand, extremely liquid markets, such as forex, can have particularly high leverage ratios.

Here’s how different degrees of leverage affect your exposure (and thus profit potential and maximum loss) for an initial investment of £1000:

銅先物CFD(COPPERUSconst)

■外国為替証拠金取引は各通貨の価格を、貴金属証拠金取引は各貴金属の価格を指標とし、それらの変動に対する予測を誤った場合等に損失が発生します。また、売買の状況によってはスワップポイントの支払いが発生したり、通貨の金利や貴金属のリースレート等の変動によりスワップポイントが受取りから支払いに転じたりすることがあります。外国為替証拠金取引の手数料については、無料のスタンダードと有料のアクティブトレーダーの二コースがあります。アクティブトレーダーでは取引金額に一定の料率(ステージ1: 0.003%、ステージ2: 0.002%、ステージ3: 0.001%)を掛けて求めた手数料が新規/決済それぞれで課金されます。さらにステージ2と3ではお支払いいただいた手数料の月間合計額が月額標準金額(ステージ2: 6万円、ステージ3: 20万円)に満たない場合は、その差額を追加で徴収させていただきます。ミニマムチャージの設定はありません。ステージはお客様ご自身で事前に選択していただき、月単位で適用されます。変更する場合は翌月以降の月の初日から有効となり、原則として月の途中で変更することはできません。貴金属証拠金取引の手数料についても、無料のスタンダードと有料のアクティブトレーダーの二コースがあります。ただしスタンダードではミニマムチャージが設定されています。アクティブトレーダーの手数料は外国為替証拠金取引と同様の仕組みになります。なお、ステージ2と3における手数料の月間合計額の計算では、外国為替証拠金取引と貴金属証拠金取引で発生した手数料が合算されます。
■外国為替オプション取引は外国為替証拠金取引の通貨を、貴金属オプション取引は貴金属証拠金取引の貴金属を原資産とし、原資産の値動きやその変動率に対する予測を誤った場合等に損失が発生します。また、オプションの価値は時間の経過により減少します。手数料については、外国為替オプション取引・貴金属オプション取引ともに無料です。なお、オプションの売り側は権利行使に応える義務があります。
■株価指数CFD取引は株価指数や株価指数を対象としたETFを、個別株CFD取引は個別株や個別株関連のETFを、債券CFD取引は債券や債券を対象としたETFを、その他証券CFD取引はその他の外国上場株式関連ETF等を、商品CFD取引は商品先物取引をそれぞれ原資産とし、それらの価格の変動に対する予測を誤った場合等に損失が発生します。また、建玉や売買の状況によってはオーバーナイト金利、キャリングコスト、借入金利、配当等調整金の支払いが発生したり、通貨の金利の変動によりオーバーナイト金利が受取りから支払いに転じたりすることがあります。手数料については、東京証券取引所上場株式を原資産とするCFD取引の日計り取引は「取引金額×0.05%」の手数料がかかり、建玉を持ち越した場合、キャッシュバック方式により、売買手数料は無料です。ETFを原資産としない株価指数CFD取引と商品CFD取引では売/買、新規/決済の別にかかわらず無料ですが、それ以外は有料となり「取引金額×一定料率」または「取引数量×一定金額」で求めた手数料がかかります。ただし、手数料の合計額が当社の定める最低手数料に満たない場合は、手数料に代えて最低手数料を徴収させていただきます。手数料の料率や金額または最低手数料は取引所や銘柄などによって異なります。
■上記全ての取引においては、当社が提示する売価格と買価格にスプレッド(価格差)があり、お客様から見た買価格のほうが売価格よりも高くなります。 CFD取引
■先物取引は各原資産の価格を指標とし、それらの変動に対する予測を誤った場合等に損失が発生します。手数料については、売買手数料と取引所手数料が新規/決済のそれぞれで課金されます。売買手数料は注文単位当りで定められています。ただし、手数料の合計額が当社の定める最低手数料に満たない場合は、手数料に代えて最低手数料を徴収させていただきます。また、建玉を翌日に持ち越すとキャリングコストが発生します。
■外国株式オプション取引は、対象とする外国上場株式の市場価格あるいは当該外国上場株式の裏付けとなっている資産の価格や評価額の変動等に対する予測を誤った場合等に損失が発生します。また、対象とする外国上場株式の発行者の信用状況の変化等により、損失が発生することがあります。なお、オプションを行使できる期間には制限がありますので留意が必要です。さらに、外国株式オプションは、市場価格が現実の市場価格等に応じて変動するため、その変動率は現実の市場価格等に比べて大きくなる傾向があり、意図したとおりに取引ができず、場合によっては大きな損失が発生する可能性があります。また取引対象となる外国上場株式が上場廃止となる場合には、当該外国株式オプションも上場廃止され、また、外国株式オプションの取引状況を勘案して当該外国株式オプションが上場廃止とされる場合があり、その際、取引最終日及び権利行使日が繰り上げられることや権利行使の機会が失われることがあります。対象外国上場株式が売買停止となった場合や対象外国上場株式の発行者が、人的分割を行う場合等には、当該外国株式オプションも取引停止となることがあります。また買方特有のリスクとして、外国株式オプションは期限商品であり、買方がアウトオブザマネーの状態で、取引最終日までに転売を行わず、また権利行使日に権利行使を行わない場合には、権利は消滅します。この場合、買方は投資資金の全額を失うことになります。また売方特有のリスクとして、売方は証拠金を上回る取引を行うこととなり、市場価格が予想とは反対の方向に変化したときの損失が限定されていません。売方は、外国株式オプション取引が成立したときは、証拠金を差し入れ又は預託しなければなりません。その後、相場の変動や代用外国上場株式の値下がりにより不足額が発生した場合には、証拠金の追加差入れ又は追加預託が必要となります。また売方は、権利行使の割当てを受けたときには、必ずこれに応じなければなりません。すなわち、売方は、権利行使の割当てを受けた際には、コールオプションの場合には売付外国上場株式が、プットオプションの場合は買付代金が必要となりますから、特に注意が必要です。さらに売方は、所定の時限までに証拠金を差し入れ又は預託しない場合や、約諾書の定めによりその他の期限の利益の喪失の事由に該当した場合には、損失を被った状態で建玉の一部又は全部を決済される場合もあります。更にこの場合、その決済で生じた損失についても責任を負うことになります。外国株式オプション取引の取引手数料については、1ロットあたり3.0米ドルが一回の取引ごとに課金されます。その他にも取引所手数料やキャリングコストなど様々な費用がかかります。手数料の詳細は、発注前の取引画面でご確認ください。外国株式オプション取引(売建て)を行うにあたっては、所定の証拠金を担保として差し入れ又は預託していただきます。証拠金率は各銘柄のリスクによって異なりますので、発注前の取引画面でご確認ください。
■上記全ての取引(ただしオプション取引の買いを除く)は、取引証拠金を事前に当社に預託する必要があります。取引証拠金の最低必要額は取引可能な額に比べて小さいため、損失が取引証拠金の額を上回る可能性があります。この最低必要額は、取引金額に対する一定の比率で設定されおり、口座の区分(個人または法人)や個別の銘柄によって異なりますが、平常時の比率は4%から20%が適用されます。ただし法人が行う外国為替証拠金取引については、金融商品取引業等に関する内閣府令第117条第27項第1号に規定される定量的計算モデルを用いて通貨ペアごとに算出(1週間に1度)した比率を下回らないように当社が設定します。
■上記全ての取引(ただしオプション取引の買いを除く)は、損失が無制限に拡大することを防止するために自動ロスカット(自動ストップロス)が適用されますが、これによって確定した損失についてもお客様の負担となります。また自動ロスカットは決済価格を保証するものではなく、損失がお預かりしている取引証拠金の額を超える可能性があります。
■外国証券売買取引は、買付け時に比べて売付け時に、価格が下がっている場合や円高になっている場合に損失が発生します。手数料については、「取引金額×一定料率」又は「取引数量×一定金額」で求めた手数料が一回の取引ごとに課金されます。ただし手数料の合計額が当社の定める最低手数料に満たない場合は、手数料に代えて最低手数料を徴収させていただきます。また取引所手数料等の追加費用がかかる場合があります。
■取引にあたっては、取引説明書および取引約款を熟読し十分に仕組みやリスクをご理解いただき、発注前に取引画面で手数料等を確認のうえ、ご自身の判断にてお取引をお願いいたします。

サクソバンク証券株式会社

金融商品取引業者 関東財務局長(金商)第239号
加入協会/日本証券業協会、一般社団法人金融先物取引業協会、日本投資者保護基金、日本商品先物取引協会

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What is leverage?

Leverage is a facility that enables you to get a much larger exposure to the market you’re trading than the amount CFD取引 CFD取引 you deposited to open the trade. Leveraged products, such as spread betting and CFDs, magnify your potential profit – but also your potential loss.

Leverage is a key feature of CFD trading and spread betting, and can be a powerful tool for a trader. You CFCFD取引 D取引 can use it to take advantage of comparatively small price movements, ‘gear’ your portfolio for greater exposure, or to make your capital go further. Here’s a guide to making the most out of leverage – including how it works, when it’s used, and CFD取引 CFD取引 how to keep your risk in check.

How does leverage work?

Leverage works by using a deposit, known as margin, to provide you with increased exposure to an underlying asset. Essentially, you’re putting down a fraction of the full value of your trade – and your provider is loaning you the rest.

Your total exposure compared to your margin is known as the leverage ratio.

For example, let’s say you want to buy 1000 shares of a company at a share price of 100p.

To open a conventional CFD取引 CFD取引 trade with a stockbroker, you would be required to pay 1000 x 100p for an exposure of £1000 (ignoring any commission or other charges). If the company’s share price goes up by 20p, your 1000 shares are now worth 120p each. If you close your position, then you’d have made a £200 profit from your original £1000.

Unleveraged

If the market had gone the other way and shares of the company had fallen by 20p, you would have lost £200, or a fifth of what you paid for the shares.

Or you could have opened your trade with a leveraged provider, who might have a margin requirement of 10% on the same shares.

Here, you’d only have to pay 10% of your £1000 exposure, or £100, to open the position.

If the company’s CFD取引 CFD取引 share price rises to 120p, you would still make the same profit of £200, but at a considerably reduced cost.

If the shares had fallen by 20p then you would have lost £200, which is twice your initial deposit.

Leveraged

Different types of leveraged products

The CFD取引 CFD取引 majority of leveraged trading uses derivative products, meaning you trade an instrument that takes its value from the price of the underlying asset, rather than owning the asset itself.

The main leveraged products are:

Spread betting (UK only)

A bet on the direction in which a market will move, which will earn more profit the more the market moves in your chosen direction – but more loss if it goes the other way.

Contracts for difference (CFDs)

An agreement with a provider to exchange the difference in price of a particular financial product between the time the position is opened and when it is closed.

Visit spread betting vs CFDs to learn more about the differences between these products.

There are lots of other leveraged products available, such as options, futures and some exchange-traded funds (ETFs). Though they work in different ways, all have the potential to increase profit as well as loss.

Which markets can you use leverage on?


    A share is a unit of ownership for a particular company, and is usually bought and CFD取引 CFD取引 CFD取引 sold on a stock exchange. You can use leveraged products to open positions on thousands of shares, from blue chips like Apple and Facebook, to penny stocks.

    An index is a numerical representation of the performance of a group of assets from a particular CFD取引 CFD取引 exchange, area, region or sector. As indices are not physical assets, they can only be traded via products that mirror their price movements – including spread betting, CFD trading and ETFs.

    Foreign exchange, or forex, is the buying and selling of currencies with the CFD取引 CFD取引 aim of making a profit. It is the most-traded financial market in the world. The relatively small movements involved in forex trading mean that many choose to trade using leverage.

    Cryptocurrencies are virtual currencies that can be traded in the same way as forex, but are independent of banks and governments. Leveraged products allow traders to gain exposure to major cryptocurrencies, such as bitcoin and ethereum, without tying up lots of capital.

Benefits of using leverage

Provided you understand how leveraged trading works, it can be an extremely powerful CFD取引 trading tool. Here are just a few of the benefits:

  • Magnified profits. You only have to put down a fraction of the value of your trade to receive the same profit as in a conventional trade. As profits are calculated using the CFD取引 full value of your position, margins can multiply your returns on successful trades – but also your losses on unsuccessful ones.
    See an example of magnified profit
  • Gearing opportunities. Using leverage can free up capital that can be committed to other investments. The ability to increase the amount available for investment is known as gearing
  • Shorting the market. Using leveraged products to speculate on market movements enables you to benefit from markets that are falling, as well as those that are rising – this is known CFD取引 as going short
  • 24-hour dealing. Though trading hours vary from market to market, certain markets – including key indices, forex and cryptocurrency markets – are available to trade around the clock

Drawbacks of using leverage

Though spread betting, CFDs and other leveraged products provide traders CFD取引 with a range of benefits, it is important to consider the potential downside of using such products as well. Here are a few key things to consider:

  • Magnified losses. Margins magnify losses as well as profits, and because your initial outlay is CFD取引 comparatively smaller than conventional trades, it is easy to forget the amount of capital you are placing at risk. So you should always consider your trade in terms of its full value and downside potential, and take steps to manage your risk
  • No shareholder privileges. When trading with leverage you give up the benefit of actually taking ownership of the asset. For instance, using leveraged products can have implications on dividend payments. Instead of receiving a dividend, the amount will usually be added or subtracted to your account, depending on whether your position is long or short
  • Margin calls. If your position moves against you, your provider may ask you to put up additional funds in order to keep your trade open. This is known as margin call, and you’ll CFD取引 CFD取引 CFD取引 CFD取引 CFD取引 either need to add capital or exit positions to reduce your total exposure
  • Funding charges. When using leverage you are effectively being lent the money to open the full position at the cost of your deposit. If you want to keep your position CFD取引 open overnight you will be charged a small fee to cover the costs of doing so

Leverage and risk management

Leveraged trading can be risky as losses may exceed your initial outlay, but there are numerous risk-management tools that can be used to reduce your potential loss, including:

Stops

Attaching a stop to your position can restrict your losses if a price moves against you. However, markets move quickly and certain conditions may result in your stop not being triggered at the price you’ve set.

Guaranteed stops

These work in the same way as basic stops, but will always be filled at exactly the level you’ve set, even if gapping or slippage occurs. If your stop is triggered, there will be a small premium to pay in addition to normal transaction fees.

Limited-risk account

This type of CFD取引 account ensures that your losses will not exceed the initial deposit required to open the trade, as all positions must have a guaranteed stop attached.

Using stops is a popular way to reduce the risk of leverage, but there are numerous other tools available – including price alerts and limit orders.

What is a leverage ratio?

Leverage ratio is a measurement of your trade’s total exposure compared to its margin requirement. Your leverage ratio will vary, depending on the market you are trading, who you are trading it CFD取引 CFD取引 with, and the size of your position.

Using the example from earlier, a 10% margin would provide the same exposure as a £1000 investment with just £100 margin. This gives a leverage ratio of 10:1.

Often the more volatile or less liquid an CFD取引 CFD取引 underlying market, the lower the leverage on offer in order to protect your position from rapid price movements. On the other hand, extremely liquid markets, such as forex, can have particularly high leverage ratios.

Here’s how different degrees of leverage affect your exposure (and CFD取引 CFD取引 thus profit potential and maximum loss) for an initial investment of £1000:

銅先物CFD(COPPERUSconst)

■外国為替証拠金取引は各通貨の価格を、貴金属証拠金取引は各貴金属の価格を指標とし、それらの変動に対する予測を誤った場合等に損失が発生します。また、売買の状況によってはスワップポイントの支払いが発生したり、通貨の金利や貴金属のリースレート等の変動によりスワップポイントが受取りから支払いに転じたりすることがあります。外国為替証拠金取引の手数料については、無料のスタンダードと有料のアクティブトレーダーの二コースがあります。アクティブトレーダーでは取引金額に一定の料率(ステージ1: 0.003%、ステージ2: 0.002%、ステージ3: 0.001%)を掛けて求めた手数料が新規/決済それぞれで課金されます。さらにステージ2と3ではお支払いいただいた手数料の月間合計額が月額標準金額(ステージ2: 6万円、ステージ3: 20万円)に満たない場合は、その差額を追加で徴収させていただきます。ミニマムチャージの設定はありません。ステージはお客様ご自身で事前に選択していただき、月単位で適用されます。変更する場合は翌月以降の月の初日から有効となり、原則として月の途中で変更することはできません。貴金属証拠金取引の手数料についても、無料のスタンダードと有料のアクティブトレーダーの二コースがあります。ただしスタンダードではミニマムチャージが設定されています。アクティブトレーダーの手数料は外国為替証拠金取引と同様の仕組みになります。なお、ステージ2と3における手数料の月間合計額の計算では、外国為替証拠金取引と貴金属証拠金取引で発生した手数料が合算されます。
■外国為替オプション取引は外国為替証拠金取引の通貨を、貴金属オプション取引は貴金属証拠金取引の貴金属を原資産とし、原資産の値動きやその変動率に対する予測を誤った場合等に損失が発生します。また、オプションの価値は時間の経過により減少します。手数料については、外国為替オプション取引・貴金属オプション取引ともに無料です。なお、オプションの売り側は権利行使に応える義務があります。
■株価指数CFD取引は株価指数や株価指数を対象としたETFを、個別株CFD取引は個別株や個別株関連のETFを、債券CFD取引は債券や債券を対象としたETFを、その他証券CFD取引はその他の外国上場株式関連ETF等を、商品CFD取引は商品先物取引をそれぞれ原資産とし、それらの価格の変動に対する予測を誤った場合等に損失が発生します。また、建玉や売買の状況によってはオーバーナイト金利、キャリングコスト、借入金利、配当等調整金の支払いが発生したり、通貨の金利の変動によりオーバーナイト金利が受取りから支払いに転じたりすることがあります。手数料については、東京証券取引所上場株式を原資産とするCFD取引の日計り取引は「取引金額×0.05%」の手数料がかかり、建玉を持ち越した場合、キャッシュバック方式により、売買手数料は無料です。ETFを原資産としない株価指数CFD取引と商品CFD取引では売/買、新規/決済の別にかかわらず無料ですが、それ以外は有料となり「取引金額×一定料率」または「取引数量×一定金額」で求めた手数料がかかります。ただし、手数料の合計額が当社の定める最低手数料に満たない場合は、手数料に代えて最低手数料を徴収させていただきます。手数料の料率や金額または最低手数料は取引所や銘柄などによって異なります。
■上記全ての取引においては、当社が提示する売価格と買価格にスプレッド(価格差)があり、お客様から見た買価格のほうが売価格よりも高くなります。
■先物取引は各原資産の価格を指標とし、それらの変動に対する予測を誤った場合等に損失が発生します。手数料については、売買手数料と取引所手数料が新規/決済のそれぞれで課金されます。売買手数料は注文単位当りで定められています。ただし、手数料の合計額が当社の定める最低手数料に満たない場合は、手数料に代えて最低手数料を徴収させていただきます。また、建玉を翌日に持ち越すとキャリングコストが発生します。
■外国株式オプション取引は、対象とする外国上場株式の市場価格あるいは当該外国上場株式の裏付けとなっている資産の価格や評価額の変動等に対する予測を誤った場合等に損失が発生します。また、対象とする外国上場株式の発行者の信用状況の変化等により、損失が発生することがあります。なお、オプションを行使できる期間には制限がありますので留意が必要です。さらに、外国株式オプションは、市場価格が現実の市場価格等に応じて変動するため、その変動率は現実の市場価格等に比べて大きくなる傾向があり、意図したとおりに取引ができず、場合によっては大きな損失が発生する可能性があります。また取引対象となる外国上場株式が上場廃止となる場合には、当該外国株式オプションも上場廃止され、また、外国株式オプションの取引状況を勘案して当該外国株式オプションが上場廃止とされる場合があり、その際、取引最終日及び権利行使日が繰り上げられることや権利行使の機会が失われることがあります。対象外国上場株式が売買停止となった場合や対象外国上場株式の発行者が、人的分割を行う場合等には、当該外国株式オプションも取引停止となることがあります。また買方特有のリスクとして、外国株式オプションは期限商品であり、買方がアウトオブザマネーの状態で、取引最終日までに転売を行わず、また権利行使日に権利行使を行わない場合には、権利は消滅します。この場合、買方は投資資金の全額を失うことになります。また売方特有のリスクとして、売方は証拠金を上回る取引を行うこととなり、市場価格が予想とは反対の方向に変化したときの損失が限定されていません。売方は、外国株式オプション取引が成立したときは、証拠金を差し入れ又は預託しなければなりません。その後、相場の変動や代用外国上場株式の値下がりにより不足額が発生した場合には、証拠金の追加差入れ又は追加預託が必要となります。また売方は、権利行使の割当てを受けたときには、必ずこれに応じなければなりません。すなわち、売方は、権利行使の割当てを受けた際には、コールオプションの場合には売付外国上場株式が、プットオプションの場合は買付代金が必要となりますから、特に注意が必要です。さらに売方は、所定の時限までに証拠金を差し入れ又は預託しない場合や、約諾書の定めによりその他の期限の利益の喪失の事由に該当した場合には、損失を被った状態で建玉の一部又は全部を決済される場合もあります。更にこの場合、その決済で生じた損失についても責任を負うことになります。外国株式オプション取引の取引手数料については、1ロットあたり3.0米ドルが一回の取引ごとに課金されます。その他にも取引所手数料やキャリングコストなど様々な費用がかかります。手数料の詳細は、発注前の取引画面でご確認ください。外国株式オプション取引(売建て)を行うにあたっては、所定の証拠金を担保として差し入れ又は預託していただきます。証拠金率は各銘柄のリスクによって異なりますので、発注前の取引画面でご確認ください。
■上記全ての取引(ただしオプション取引の買いを除く)は、取引証拠金を事前に当社に預託する必要があります。取引証拠金の最低必要額は取引可能な額に比べて小さいため、損失が取引証拠金の額を上回る可能性があります。この最低必要額は、取引金額に対する一定の比率で設定されおり、口座の区分(個人または法人)や個別の銘柄によって異なりますが、平常時の比率は4%から20%が適用されます。ただし法人が行う外国為替証拠金取引については、金融商品取引業等に関する内閣府令第117条第27項第1号に規定される定量的計算モデルを用いて通貨ペアごとに算出(1週間に1度)した比率を下回らないように当社が設定します。
■上記全ての取引(ただしオプション取引の買いを除く)は、損失が無制限に拡大することを防止するために自動ロスカット(自動ストップロス)が適用されますが、これによって確定した損失についてもお客様の負担となります。また自動ロスカットは決済価格を保証するものではなく、損失がお預かりしている取引証拠金の額を超える可能性があります。
■外国証券売買取引は、買付け時に比べて売付け時に、価格が下がっている場合や円高になっている場合に損失が発生します。手数料については、「取引金額×一定料率」又は「取引数量×一定金額」で求めた手数料が一回の取引ごとに課金されます。ただし手数料の合計額が当社の定める最低手数料に満たない場合は、手数料に代えて最低手数料を徴収させていただきます。また取引所手数料等の追加費用がかかる場合があります。
■取引にあたっては、取引説明書および取引約款を熟読し十分に仕組みやリスクをご理解いただき、発注前に取引画面で手数料等を確認のうえ、ご自身の判断にてお取引をお願いいたします。

サクソバンク証券株式会社

金融商品取引業者 関東財務局長(金商)第239号
加入協会/日本証券業協会、一般社団法人金融先物取引業協会、日本投資者保護基金、日本商品先物取引協会

ご使用になられているブラウザ環境によりウェブサイトを正しく表示できません。

本サイトでは iOS 9.X および Microsoft Internet Explorer 10 以降のブラウザのご利用を推奨しています。これ以外の環境でご利用いただいた場合、本サイトの利用に必要な機能が使用できず、画面が正常に表示されない、動作しない等の現象が起きることがあります。

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