SPA35 point value, lot size and commission
Spain 35 on MetaTrader 5: what one point is worth, how many lots to trade for the risk you choose, the commission on each plan and the rules that apply.
- €1.00one point on 1.00 lot
- 1contract size
- Freeno commission
- Symbol
- SPA35 on MetaTrader 5
- Market
- Indices CFD
- Contract size
- 1 × the index, in EUR, per lot
- Price step (point)
- 0.01
- Index point
- a 1.00 move in the index
- Commission
- Free on every plan
- Margin, 1.00 lot
- $119 at 1:100, $477 at 1:25, at the example price 11,000
Contract sizes on these CFDs vary between MetaTrader 5 servers. Check the symbol in your terminal (right-click it in Market Watch, then Specification) and enter that size in the trading calculator.
What SPA35 is
Spain 35
SPA35 tracks Spain's IBEX 35: 35 of the most traded companies listed in Madrid. It is a cash index CFD, following the index itself rather than a dated futures contract.
When it trades
The stocks behind it trade from 9:00 AM to 5:30 PM Central European time. The CFD's own session on the MT5 server can run longer; its hours are under Specification, Sessions.
SPA35 point value, step by step
One index point
SPA35 is quoted to two decimals; a move of 1.00 is one index point, and traders size index trades in points.
Multiply by the contract
With a contract of 1, one point on 1.00 lot is EUR 1; on 0.10 lot a tenth of it.
Convert to dollars
SPA35 is quoted in EUR, so a point on 1.00 lot is €1.00, about $1.09 at the example exchange rate.
SPA35: one point and common moves, by lot size
Risking 1% of $100,000 with a 50-point stop
A 50-point stop that risks $1,000 needs $20.00 a point, about €18.43. One lot on a contract of 1 is €1.00 a point, so that is 18.43 lots, rounded down to the 0.01 lot step. A server with a larger contract size needs proportionally fewer lots: divide by its contract size.
The $1,000 is a quarter of the $4,000 Max Daily Loss on a $100K Edge 1 Step, so four such losses in one day would reach it. Example price 11,000: a round figure for the arithmetic, not a quote.
Commission, leverage and margin on every CFD plan
Commission is round turn: half when the trade opens, half when it closes, the same in the evaluation and once funded. Margin is the position value divided by the plan's leverage ceiling, for 1.00 lot at the example price of 11,000 ($11,935 of SPA35); the margin MetaTrader 5 shows when you place the order is the one that applies.
| Plan | Commission | Per side | Leverage | Margin, 1.00 lot |
|---|---|---|---|---|
| Edge 1 Step | Free | Free | 1:100 | $119 |
| Edge 2 Step | Free | Free | 1:100 | $119 |
| Instant Pro | Free | Free | 1:33 | $362 |
| Instant Go | Free | Free | 1:25 | $477 |
| Prime 1 Step | Free | Free | 1:50 | $239 |
| Prime 2 Step | Free | Free | 1:100 | $119 |
For education. Figures are arithmetic on the contract specification and an example price; the specification, price, spread and commission on your platform decide real results. Nothing here is financial advice, and trading leveraged products can lose money.
Rules that apply when you trade SPA35
Max. Exposure
Every open position counts at its full value against a cap set by account size: $1,250,000 on $100K. At the example price one lot of SPA35 is $11,935, so about 104.73 lots fill the whole cap with nothing else open. Going over is a warning, and resets any profit to the starting balance; a second closes the account.
The ruleNews trading
Allowed on every CFD plan. Not allowed: straddling, opening both directions (or offsetting positions on correlated instruments) within 15 minutes either side of a Red or Amber release to catch the spike. It is reviewed by the risk desk, never penalised automatically.
ECB rate decisionEurozone CPIEconomic calendarWeekend holding
With the Weekend Holding add-on, keep SPA35 open over the weekend. Without it, positions still open at 4:45 PM New York time on Friday are closed by the system: the first time is a warning, the second closes the account.
The ruleThe thin-liquidity window
At most 20% of your profit may come from trades opened and closed between 21:00:00 and 22:59:59 UTC, every night, on every instrument. While it is over, payouts on that account are paused; once profit from outside the window brings the share back inside the limit, they open again by themselves. Overnight holding is allowed; swaps count like any other cost.
The ruleSPA35: questions
What is the point value of SPA35?
€1.00 per point on 1.00 lot (about $1.09 at the example rate), €0.10 on 0.10 lot and €0.01 on 0.01 lot. One point is a 1.00 move in the index, on a contract of 1.
What lot size should I trade on SPA35 with a $100K account?
Risking 1% ($1,000) with a stop of 50 points: $1,000 ÷ $54.25 per lot = 18.43 lots. Halve the risk and the lots halve with it. The stop decides the size, not the account.
What is the commission on SPA35 at WhitePips?
SPA35 has no commission on any WhitePips plan: index CFDs are free.
What leverage can I use on SPA35?
The plan's leverage ceiling: 1:100 on Edge 1 Step, 1:100 on Edge 2 Step, 1:33 on Instant Pro, 1:25 on Instant Go, 1:50 on Prime 1 Step, 1:100 on Prime 2 Step. One lot at 11,000 is $11,935, so it holds $119.35 of margin at 1:100 and $477.40 at 1:25. In practice Max. Exposure sizes positions first: about 104.73 lots of SPA35 on a $100K account.
Can I trade SPA35 around news at WhitePips?
Yes, on every CFD plan. What is not allowed is straddling: positions in both directions, or offsetting positions on correlated instruments, within 15 minutes either side of a Red or Amber release to catch the spike. The risk desk reviews it; it is never penalised automatically.
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