Welcome to Capital.com
Important information
Regulations
Licenses
Capital Com SV Investments Limited is a regulated Cyprus Investment Firm, registration number HE 354252, authorised and regulated by the Cyprus Securities and Exchange Commission under the license number 319/17 (brand name “Capital.com”). Based in the European Union, Capital.com complies with the requirements imposed by the Markets in Financial Instruments Directive (MiFID).
Segregated Funds
Capital.com keeps its clients’ money in segregated bank accounts in accordance with our regulator’s rules on client money. In other words, your funds are held separately from our funds and are thus not exposed to any unexpected financial difficulties that may arise in the Company. The Company does not claim any entitlement to these funds, as they belong to you.
Clients’ funds are spread across a number of prominent banks that are constantly reviewed to ensure they are in line with the Capital.com guidelines.
Investor Compensation warranties
Capital.com segregates all retail client funds from its own money in accordance with relevant regulations. Capital Com SV Investments Limited is a member of the Investor Compensation Fund (the “Fund”), which provides compensation for Retail Investors should Capital.com declare default.
Fixing the amount of payable compensation
The amount of the compensation payable to each client is calculated in accordance with the legal and contractual terms governing our relationship with the client, subject to the set-off rules applied for the calculation of the claims between the client and Capital.com.
Key Documentation
Regulatory Publications (CCSV)
Pillar 3 Disclosure - Standalone (2022)
Pillar 3 Disclosure - Consolidated (2022)
Pillar 3 Disclosure - Standalone (2023)
Pillar 3 Disclosure - Consolidated (2023)
Pillar 3 Disclosure - Standalone (2024)
Pillar 3 Disclosure - Consolidated (2024)
RTS 27 Quality of Execution Disclosure (Q3 2023)
RTS 27 Quality of Execution Disclosure (Q1 2024)
RTS 27 Quality of Execution Disclosure (Q2 2024)
RTS 27 Quality of Execution Disclosure (Q3 2024)
RTS 27 Quality of Execution Disclosure (Q4 2024)
RTS 28 Quality of Execution Disclosure (2022)
RTS 28 Quality of Execution Disclosure (2023)
RTS 28 Quality of Execution Disclosure (2024)
Key Information Document - CFDs on Indices
Key Information Document - KOs on Indices
Key Information Document - CFDs on Cryptos
Key Information Document - KOs on Cryptos
Key Information Document - CFDs on Commodities
Key Information Document - KOs on Commodities
Key Information Document - CFDs on Forex
Key Information Document - KOs on Forex
Key Information Document - CFDs on Shares
Key Information Document - KOs on Shares
Key Information Document - CFDs on Bonds
Key Information Document - KOs on Bonds
Key Information Document - CFDs on Interest Rates
Key Information Document - KOs on Interest Rates
Complaints Procedure (CCSV)
Complaints Procedure (CCSV)
Whilst we always endeavour to offer the best possible service to you, we recognise that you may on occasion feel dissatisfied with an aspect of our service. In the event you are dissatisfied about a financial product or service provided to you by Capital Com SV Investments Limited (the Company), please raise your concerns to us according to the following procedure.
1. In the first instance, contact our Customer Support team by email to the email address support@capital.com or by telephone on +357 25024950. Most concerns can be resolved at this level. When contacting our Customer Support team, please provide as much information as possible, including:
- your full name and account number;
- a clear description of the issue(s); and
- references to any additional relevant documentation, screenshots, etc.
Our Customer Support team will then endeavour to resolve your concerns as quickly as possible and propose a resolution to your case. If, after the resolution is provided, we do not receive any response from you regarding your interest in further escalating the matter, we will regard your concerns to be successfully resolved.
2. If you will remain dissatisfied after the resolution is offered you may contact us at complaint@capital.com or fill the complaint form that can be found below to submit your complaint to our Complaints Department who will be responsible to examine your complaint competently, diligently and impartially to assess whether the Firm has acted fairly, within its rights and have met the Firm’s contractual obligations.
Please ensure that you have informed us of all the relevant facts and evidence to conduct a thorough and independent investigation into your complaint.
At this stage in order to resolve your complaint we will take the following steps:
(i) We will confirm, within five (5) days, receipt of your complaint and provide you with your Unique Reference Number. You should use said reference number in all future communication with us and/or the Financial Ombudsman of Cyprus regarding your complaint.
(ii) After thorough investigation, we will reply to your complaint within two (2) months, informing you about the outcome of our investigation. In our response we will review the relevant facts, findings and conclusions of our investigation and state whether your complaint has been upheld or rejected and, where appropriate, will offer redress and/or remedial action. If your complaint is rejected, we will explain the reasons for this.
In the event that we are unable to respond within two (2) months, due to the complexity of the complaint, we will inform you of the reasons for the delay and indicate the period of time within which it is possible to complete our investigation. This period of time shall not exceed three (3) months from the date of submission of the complaint.
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In the event that our final response does not fully satisfy you, you may refer your complaint to the Financial Ombudsman of Cyprus. The Financial Ombudsman is an independent service for settling disputes for Cyprus Investment Firms and their clients.
It is important to contact the Financial Ombudsman using your Unique Reference Number within four months of receiving a final response from us otherwise the Financial Ombudsman may not be able to deal with your complaint. Please also note that the Financial Ombudsman will not consider a complaint until the Company has had the opportunity to address it.
The contact details of the Financial Ombudsman are the following:
Website: http://www.financialombudsman.gov.cy
Email: complaints@financialombudsman.gov.cy
Postal Address: P.O. Box: 2535, 1311 Nicosia, Cyprus
Telephone: +35722848900
Fax: +35722660584, +35722660118
Charges and fees
Equip yourself for more informed trading. Find out about each of our charges here.
Account
Opening an account: Free
Closing an account: Free
We won't charge you for deciding to end your trading journey with us.
Deposits & withdrawals
Deposit fee: FREE
You won’t pay anything to add funds to your account.
Min deposit: 20 USD/EUR/GBP or 100 PLN (For all payment methods, except a wire transfer, which has a minimum of 50 EUR (or the equivalent in the currency of your trading account)
The smallest amount you can add to your account to start trading.
Withdrawal fee: FREE
We’ll never charge you for moving your money out of your Capital.com account.
Min withdrawal: 50 USD/EUR/GBP (In case you have under 50 USD/EUR/GBP on your trading account, you can only withdraw the whole balance.)
The smallest amount you can withdraw to your card or bank account.
Trading
The spread: Spreads are dynamic and change depending on the underlying market conditions.
Our fee for executing your trade is the spread – the difference between the buy and sell price.
Trading commission: FREE
Overnight funding adjustment: The fee will either be paid or received, depending on whether you are long or short.
An adjustment that applies when you hold a position overnight. Your 1:1 leverage CFD positions on shares and cryptocurrencies are not subject to overnight funding.
Currency conversion: Our currency conversion fee is 0.7% of the spot forex rate (0.5% for professional clients), charged as part of the conversion rate when there is a cash transaction in a foreign currency on your account. For example when you:
- Realise a profit or loss
- Hold a position overnight (we charge the conversion fee on the overnight funding adjustment, not your whole position)
- Pay a guaranteed stop-loss premium
- Pay or receive a dividend
When you trade on a market denominated in a different currency to your account, you’ll be charged a small fee when we convert to your account’s base currency.
Guaranteed stops: The GSL fee varies depending on the market you are trading, the position’s open price and the quantity. You can check the fee on the deal ticket before opening your trade.
A guaranteed stop-loss (GSL) closes the trade at exactly the price level you specify, with no risk of gapping or slippage. Your loss never exceeds the predicted level, but you’ll pay a small fee if your GSL is triggered.
What is the spread?
The bid-ask spread is the difference between the bid and ask (‘sell’ and ‘buy’) prices of the security. The ask price (also known as the offer price) always exceeds the bid price, so the price needs to move through the spread before an open position turns a profit. The bid-ask spread can be seen as a measure of supply and demand for a certain asset on the market, and therefore the market’s liquidity is a big factor in how narrow the spread is.
CFD example
- You have a position of 1 contract on the US Tech 100, with a bid/offer quote at 12475/76.
- The spread on this market is therefore 1 point.
- To open your position you will pay half this spread and likewise to close it. The total cost of the spread is therefore $1 x 1 = $1.
What is the overnight funding adjustment?
Every time you hold a trade open overnight – unless you’re trading CFDs on shares or cryptocurrency with 1:1 leverage – your position will be subject to a funding adjustment. How the adjustment is calculated, and whether you pay or receive it, depends on a range of factors. You can take a look at some specifics in the examples below.
How is the overnight funding adjustment calculated?
Indices: Relevant interest rate benchmark (eg SONIA for underlyings denominated in sterling) +/- our daily fee (0.01096%)
Commodities: Underlying market adjustment (futures basis) +/- our daily fee (0.01096%)
Forex: Underlying market adjustment (TomNext) +/- our daily fee (0.00411%)
Shares: Relevant interest rate benchmark (eg SONIA for underlyings denominated in sterling) +/- our admin fee (0.01096%)
Major Cryptocurrencies: Long positions: pay 0.06164% of exposure. Short positions: receive 0.0137% of exposure
Altcoins: Long positions: pay 0.07534% of exposure. Short positions: receive 0.00685% of exposure
CFD example
- You have a position of 25,000 contracts on Ripple, currently priced at $0.38. Your position’s exposure is therefore $9,500.
- Our daily adjustment is -0.07534% for long positions and 0.00685% for short positions.
- So to hold a long position overnight you would pay 0.07524% of your exposure, which is $7.16.
- To hold a short position you would receive 0.00685% of your exposure, which is $0.65
Why am I charged overnight funding adjustment?
You’re charged overnight funding to cover the dealing costs inherent in holding a position overnight.
What is the guaranteed stop-loss fee?
A guaranteed stop-loss (GSL) fee is only charged if the GSL is triggered. The GSL closes the trade at exactly the price level you specify, with no risk of gapping or slippage. Since we take on this risk for you, we (and other providers) charge a fee for the GSL’s use. You can see the GSL fee on the deal ticket before placing your trade, once you’ve selected a GSL.
How is the guaranteed stop-loss fee calculated?
The guaranteed stop loss fee is calculated by multiplying 3 components: guaranteed stop premium (in percentage), position open price and quantity. The formula looks like:
Formula: GSL fee = GSL premium * position open price * quantity.
You can check the GSL fee value on the deal ticket when opening a position and adding GSL.
Other things to think about
Of course, our charges aren’t the only factors that’ll affect your trade’s profitability or losses. You should also consider the following.
Market movement
The direction and distance that a market moves will obviously affect the value of your trade.
Margin
The amount required to open and maintain a trade. Consider whether you can afford it, both at the outset and if the margin should change to reflect market conditions.
Leverage
You should be comfortable with the leverage you’re using. Your exposure may be many times what you’ve paid to open, and you could experience fast, large gains or losses.
Markets Pricing
How our markets are priced
CFDs are priced differently depending on various factors. Here, we’ll run through how we price our markets by asset class, detailing the way in which prices are derived from those of exchanges and other institutions.
Cryptocurrencies
We derive our cryptocurrency prices by taking sell and buy prices from various well-known cryptocurrency exchanges. We then aggregate these prices to give us a consolidated mid-price which we then use to wrap our own spread around. This provides a much more stable spread through different times of the day.
Example
Let's look at how we price Bitcoin (BTC) at a hypothetical point in time.
We draw on current pricing from three exchanges of $99,500/$99,700, $99,550/$99,750, and $99,520/$99,720. Then, we calculate the mid-prices and aggregate them for a price of $99,623.
To this price, we apply a spread of $200* to make the Capital.com price $99,523/$99,723.
Shares
For our shares pricing, we take the underlying exchange sell and buy prices of each stock and then apply a markup to these prices. This means you’re trading on the ‘true’ prices from the underlying market with just a small adjustment for our fee. It also means our price will reflect fluctuations in the underlying market spread due to changes in liquidity.
Example
- Let’s say one physical stock in the underlying market has a sell price of $99.95 and a buy price of $100.05.
- When you trade the stock with us as a derivative (EG CFD), we’ll apply a fixed markup to this price of $0.05 either side, making our sell price $99.90 and our buy price $100.10. This means our spread is 0.20.
- If the underlying market widens to 99.80/100.20, our fixed markup of 0.05 makes our price 99.75/100.25. This means our spread is now 0.50.
Forex and spot metals
Unlike the rest of our offerings, spot forex and metals are not traded on a centralised exchange in the underlying market. This means there’s no central reference point for brokers to derive their price from and so typically prices are calculated through a range of OTC (over-the-counter) counterparties. These can range from investment banks to other brokers.
These prices are subject to variable spreads depending on market conditions. At Capital.com, we aggregate them and subsequently add a small additional spread (our transaction fee) depending on the market.
Example
- Let’s look at how we price EUR/USD at a given point.
- We aggregate pricing from three counterparties of 1.12345/1.12355, 1.12350/1.12360, and 1.12348/1.12358, for a consolidated price of 1.12348/1.12358.
- To this price, we apply a spread of (EG), 0.00006 to make the Capital.com price 1.12345/1.12361.
Indices
Our cash index pricing is derived from our price providers’ mid-price and subtracting/adding spread.
We fix our index spreads based on times throughout the day, usually to reflect changes in the underlying liquidity of the market. Our spread will typically be widest when the underlying futures market is closed, and tightest during the main share-trading session.
As cash indices are tradeable in the underlying market.Many price providers, including ours, will derive their cash price by taking the futures price and adjusting for fair value, which is expected dividends of the constituent stocks and the relevant market interest rates.
Fair value represents what the index should be worth in a perfect market without arbitrage opportunities.
Commodities and the VIX index
You can trade on both commodity spot prices (also sometimes called ‘undated commodities’) and commodity futures with us.
How we price commodity futures markets
We price our commodity futures by adding our spread to the underlying market price. The price you trade at already includes the spread.
Spreads can change. Please check individual market details in the app or web platform for the latest figures.
The exchanges that we source our commodity futures prices from are:
- Brent Oil: ICE Futures Europe
- Carbon Emissions: ICE Futures Europe
- Crude Oil: New York Mercantile Exchange (NYMEX)
- Cocoa US: ICE Futures US
- Natural Gas: New York Mercantile Exchange (NYMEX)
All contracts expire at specified future dates and are cash-settled, so you’ll never take delivery of a commodity.
How we price commodity spot markets
We determine prices for our spot commodity markets using the two nearest futures contracts of a commodity, as these are usually the most traded.
Over time, our undated price gradually shifts from the price of the nearest contract to the next one to avoid the need for an expiry date (sometimes called a rollover date).
In our system:
- The ‘front month contract’ (the one that expires soonest) is called ‘A’.
- The ‘back month contract’ (the one that expires second soonest) is called ‘B’.
- Our price (P0 and P1 in the diagram below) gradually moves from the price of ‘A’ towards the price of ‘B’ between these two expiry points.
- The price of ‘B’ can be higher or lower than the price of ‘A’, though in the example below, it’s higher.
When the front month contract ‘A’ expires, we transition to the next set of contracts. This means ‘B’ becomes the new ‘A’, and the contract that expires after the new ‘A’ becomes the new ‘B’. This process continues, so there is always a smooth transition from one contract to the next.
This means that when we transition, our pricing will be based 100% on the front month contract, and then move in a linear fashion towards the back month.
When trading these (as with other markets), you’ll pay an overnight holding cost, which has two parts:
- Admin fee: This is a fixed fee of 0.01096% charged daily.
- Daily premium adjustment: This reflects the daily movement of our price from the front month (A) to the back month (B). You will either pay or receive this adjustment, based on the direction of your trade.
When the price difference between A and B is larger, the daily adjustment is also larger.
The price difference between the two contracts can vary greatly depending on the market conditions, most obviously in commodities that are affected by seasonal demand (e.g natural gas).
Daily Premium Adjustment
The Daily Premium Adjustment applied to spot commodity positions has a neutral impact on your profit and loss – it is not a trading fee or charge. Its purpose is to remove the effect of seasonal fluctuations in commodity prices, ensuring that the spot price you trade on remains continuous and never expires.
Here’s an example using real prices for Natural Gas, a commodity with different prices for contracts expiring each month in the future. You can see a relative change in the value of each monthly contract in the second chart. These changes are due to seasonal supply and demand, not market expectations of future prices. In other words, Natural Gas typically costs more to buy in winter than in summer.
Comparing Month 2 and Month 3, we can see there is a large difference in prices (known as ‘fair value’):
| Expiry Date | Period | Price |
|---|---|---|
| 30 Days | 2M | 3.938 |
| 64 Days | 3M | 4.221 |
| Difference | 0.283 |
If we look at how this price changes per day between these two points, we can calculate the fair value adjustment that would be applied as a Daily Premium Adjustment. As Month 2 is lower than Month 3, the valuation price of the spot commodity will naturally rise each day in line with the change in fair value.
To offset this impact on open positions, an equivalent adjustment is subtracted from accounts holding long positions. For short positions, the same amount is credited. The overall effect of the fair value adjustment on both the valuation price and the account balance is zero.
| No. of Days | Change per Day |
|---|---|
| 34 | 0.00832 |
| Long Result | Amount |
|---|---|
| P/L | 0.00832 |
| Adjustment | -0.00832 |
| Net effect | 0 |
| Short Result | Amount |
|---|---|
| P/L | -0.00832 |
| Adjustment | 0.00832 |
| Net effect | 0 |
The Daily Premium Adjustment is necessary to reflect changes in fair value, and we apply the updated fair value each day just before the closing time for trading in each commodity. You can see the effect of the new fair value applied to a spot commodity directly on the platform charts, as shown in the example below.
The Daily Premium Adjustment is not a cost or fee – it’s an adjustment that keeps your P&L unaffected by day-to-day changes in fair value for spot commodity positions.
