Following my experiment using CFD account to purchase shares which I blogged here a few months ago, I have finally received my first dividend payout credited to my account.
Although rather straightforward, but they operate somewhat a little differently from holding a normal ordinary shares account hence I wanted to document this for future users.
For those who’ve read my past articles, you would have known that I have opened up an account with Cityindex and have tried to experiment leveraging through a series of different level financing.
Being conservative since this is my first few encounters with leveraging instrument, I have only leveraged up to 1x which means for whatever position I have opened, I have half purchased it using cash and the other half using borrowing.
The cost of financing is estimated to be at about 3.2% per annum, though computed daily.
I currently hold open positions …