Yes, i cant fault thier service etc.. The user interface is great.

This is what they said about the carry cost calculation.. I dont know much about carry costs etc so am not sure if this is how all platforms calculate it ..

Previous Method:

Under the old model, FX Transaction Carry Cost was calculated based on the Reuters Zero Coupon rate, with the interest rate differential between the primary and secondary currency used as the Carry Rate. This was outside of typical market convention.

New Method:

To bring us in line with standard industry practice, we have moved to a model based on the Interbank ‘TomNext’ carry rate. The mechanics of this involve taking the TomNext carry points averaged across a predetermined period of time (the time period is unique to each base currency dependent on liquidity), and converting the points to a percentage, before a daily haircut of 0.00274% (1% annually) is applied.

Examples:

Spread Betting AUD/USD 18/02/2013 – 10pm Transaction Carry Cost

The TomNext rate (based on the calculated average of the data from the preceding 5 hours) in the underlying market was 0.027296 / 0.028005. Adjusted for the 1% annualised haircut, this gives a Carry Rate of 0.017296 / 0.038005.

So, for a client who sold £1 per point of AUD/USD earlier in the day at a price of 1.0305, they will pay a Transaction Carry Cost as follows;

(Notional position size (£10,305) x 0.038005) = £391.64 which is then divided by 365 (as this is the annual rate) to give a daily Transaction Carry Cost charge of £1.07.

If the same client had bought £1 per point of AUD/USD at the same price (1.0305), they will receive overnight carry as follows;

(Notional position size (£10,305) x 0.017296) = £178.23 which is then divided by 365 (as this is the annual rate) to give a daily carry receipt of £0.49.