What are CFDs on Stocks?

A stock CFD is the contract-for-difference of a specific stock that allows traders to speculate the direction of the stock price and open a position accordingly, long/buy position if they believe the price will rise, short/sell position if the speculation is that the price will fall.

Monzo Futures single stock CFD give traders the ability to trade the world’s most popular companies such as Apple, Facebook or BHP Billiton.

We have listed the most popular stocks across the Australian and US markets to give you the best trading opportunities. Alternatively you can trade global macro themes with our special selection of US Exchange listed CFDs including a range of emerging markets Indices and popular such as the VanEck Vectors Gold Miners (GDX).

Stocks are available exclusively on the Monzo Futures MetaTrader 5 platform which offers advanced functionalities for both new and experienced traders who require world class execution and superior charting tools.

US STOCK TRADING

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.

What does it mean for me?

When trading any US listed equities with Monzo Futures , the Dividend adjustments on your long positions are credited to your account, and the applicable withholding taxes are automatically deducted.

How much will be 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.