Pricing a currency cfd

hourtrader

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Can anyone confirm I've got this correct?

If I were to buy or sell 5 GBP/USD CFDs, what would the NTR be assuming the initial margin is 2%? I would calculate it as £1,000 as each GBP/USD CFD has a nominal value of £10,000 so 5 * 10,000 * 2% = £1,000

Correct??
 
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