Once you have created an account by going through the application which you can find here. You can log into the platform via the Onyx Portal. To log in, enter your email address and password.

You can find your account number by logging into the Onyx Portal. Once you are logged in the account number is dispayed in the top right of your home page. You also should have received an email with your account number upon signing up. If you are still having issues, please reach out at trading@onyxmarkets.co.uk or 0203 097 5000.

You can fund your account using a bank transfer or open banking. Please ensure that any payments made are from an account in your name. We do not accept third-party payments or transfers. We do also not accept cash, cheques or crypto payments.

The Onyx Server is called OnyxCapitalAdvisory-Server

As of now, we operate on a phone dealing-only basis with all Onyx Products (oil products). All FX products are free for digital trading via your MT5 platform.

Please contact the client management team for assistance on a password reset.

Spread betting is a potentially tax-free method of trading the financial markets using leveraged derivatives. This enables the trader to take a position based on whether or not the price of the asset will rise or fall. The difference between the opening and closing price will determine if the trade results in a profit or a loss.

1. Spread betting is free of capital gains tax and stamp duty. Income tax may apply based on individual circumstances. (We advise you to check with a regulated tax professional if you are unsure how spread betting will affect you).

2. Spread betting allows you to use leverage, by doing so you can get full exposure with a small initial deposit – known as the margin. For example, if you want to place a trade equivalent to £1000 of oil, oil has a margin rate of 10%, therefore you would only have to put down £100. It is important to note that your profit and loss are calculated using the full size of your position. This means if the price moves 10% up or down, your profit or loss will be £100. Using leverage can amplify your profits and your losses, this is why it is important not to risk more than you can afford to lose when trading.

3. Going Short & Long. When spread betting you can benefit from a market that is declining in price as well are those that are increasing. How this works: When shorting, you are borrowing an asset and selling it straight away, when you close the position if the price is down you are buying back at a lower price, therefore making a profit. If the price of the asset has risen when you close, you are buying back at a higher price, therefore resulting in a loss.

4. Trade a range of markets. When you spread bet you can trade a variety of markets from oil contracts to major FX pairs.

5. Trade without paying a commission. You do not pay a commission when trading via a spread bet, the cost of opening your position is covered in the spread (the spread is the difference between the buy and sell price you will see on the platform. Also, with Onyx you’ll get competitively low spreads across our markets.

Spread betting is subject to market risk, markets can be volatile at times and have large unexpected price movements against you. This is why it is paramount that traders only risk what they can lose. A risk management strategy can help reduce the damage of these movements against you. Examples of risk management is by using stop losses, setting limit orders, using our online education portal, and by keeping on top of market movements and news.

In spread betting, “going long” and “going short” are terms used to describe different strategies for betting on the direction of a market.

“Going long” means you are betting that the price of the underlying asset will rise. In this scenario:

• You buy at the current price, with the expectation that the price will increase.
• If the market moves in your favor (i.e., the price goes up), you make a profit.
• If the market moves against you (i.e., the price goes down), you incur a loss.

“Going short” means you are betting that the price of the underlying asset will fall. In this scenario:

• You sell at the current price, with the expectation that the price will decrease.
• If the market moves in your favor (i.e., the price goes down), you make a profit.
• If the market moves against you (i.e., the price goes up), you incur a loss.

In spread betting, you are betting on the price movement rather than buying or selling the actual asset. The amount of profit or loss is determined by how far the market moves in relation to the size of your stake. Example:

Going Long:

• Current price of an asset: 1000
• You bet £10 per point that the price will rise
• If the price rises to 1010, your profit is (1010 – 1000) * £10 = £100
• If the price falls to 990, your loss is (1000 – 990) * £10 = £100

Going Short:

• Current price of an asset: 1000
• You bet £10 per point that the price will fall
• If the price falls to 990, your profit is (1000 -990) * £10 = £100
• If the price rises to 1010, your loss is (1010 – 1000) * £10 = £100

In spread betting, leverage is a mechanism that allows traders to gain exposure to larger positions than their initial capital outlay. Essentially, it means you can control a large position with a relatively small amount of money. This can amplify both potential profits and potential losses.

How Leverage Works

• Initial Margin Requirement: When you open a leveraged position, you are required to deposit a percentage of the total value of the position, known as the initial margin.
• Leverage Ratio: This is expressed as a ratio (e.g., 10:1, 20:1), indicating how much the position is amplified. For instance, a leverage ratio of 10:1 means you can control a position worth ten times your initial margin.

Example: Leverage Ratio of 10:1

• You want to place a spread bet on oil priced at 8000 (equivalent to $80 per barrel in the underlying market).
• Without leverage, if you want to open a trade with £10,000 this would be the equivalent of £1.25 per point (10000/8000).
• With a leverage ratio of 10:1, you only need £1,000 as margin to open this same trade size (10% of the total position).

Example: Price Movement Impact

• If the price rises to 8200 (equivalent to $82.00 per barrel), this would equate to a 200-point movement. Your trade size would now be £10,250.
• Your profit would be £250 (£10,250 – £10,000).
• This profit represents a 25% return on your initial £1,000 margin, this is the same profit as opening a trade size of £10,000 without leverage but you tied up 10% of the funds during the time the trade was open.

Benefits of Leverage

• Increased Potential Returns: Leverage can significantly amplify your profits, allowing you to achieve higher returns from smaller price movements.
• Capital Efficiency: You can free up capital for other investments since you only need to commit a fraction of the total value of the position.

Risks of Leverage

• Amplified Losses: Just as leverage can amplify profits, it can also amplify losses. A small adverse price movement can result in significant losses.
• Margin Calls: If the market moves against your position, you may be required to deposit additional funds to maintain your position. This is known as a margin call.
• Volatility and Rapid Changes: Leverage can make your positions more sensitive to market volatility, increasing the risk of rapid changes in your account balance.

We offer Oil contracts and 10 major FX pairs. For a full list please log into the platform and check symbols.

In spread betting, you make profits and losses based on the movement of the market price relative to your bet. Here’s a detailed explanation of how profits and losses are calculated:

How Spread Betting Works

• Choosing a Market: You select a financial market to bet on, such as Brent.
• Deciding the Direction: Going Long: You bet that the market price will rise. Going Short: You bet that the market price will fall.
• Staking Amount: You decide how much money you want to bet per point movement in the market. For example, you might bet £10 per point.

Making Profits: Going Long (Buying)

• Opening Bet: You place a bet to go long at the current price, for example, 1000.
• Price Increases: If the market price rises to 1010, the difference is 10.
• Profit Calculation: Your profit is the difference multiplied by your stake. If your stake is £10 per point: Profit = (1010 – 1000) * £10 = £100.

Making Profits: Going Short (Selling)

• Opening Bet: You place a bet to go short at the current price, for example, 1000.
• Price Decreases: If the market price falls to 990, the difference is 10.
• Profit Calculation: Your profit is the difference multiplied by your stake. If your stake is £10 per point: Profit = (1000 – 990) * £10 = £100.

Incurring Losses: Going Long (Buying)

• Opening Bet: You place a bet to go long at the current price, for example, 1000.
• Price Decreases: If the market price falls to 990, the difference is 10.
• Loss Calculation: Your loss is the difference multiplied by your stake. If your stake is £10 per point: Loss = (1000 – 990) * £10 = £100.

Incurring Losses: Going Short (Selling)

• Opening Bet: You place a bet to go short at the current price, for example, 1000.
• Price Increases: If the market price rises to 1010, the difference is 10.
• Loss Calculation: Your loss is the difference multiplied by your stake. If your stake is £10 per point: Loss = (1010 – 1000) * £10 = £100.

No, there are only fees for placing trades (The Spread) and holding your positions past 10PM (Overnight fee) on FX contracts.

The platform we provide is MetaTrader 5 – there is no cost for downloading or using the platform.
The two costs on the platform are when you place a trade (spread) and if you hold a trade past market close (overnight fee) on FX pairs.

CFDs (Contracts for Difference) allow traders to speculate on the price movements of assets like commodities, forex, and indices without owning the underlying asset. You profit or make a loss on the position from the difference between your opening and closing prices.

Spread betting is exempt from Capital Gains Tax in the UK* while CFDs are taxed on capital gains. Spreadbetting has expiry dates on the position (well into the future) whereas you can theoretically have a CFD trade open for as long as you like. The way you set up the trade is different, for CFD’s you have lots for spread betting you have £ per point.

*depending on your personal tax circumstances, and could be subject to chance. Always consult with a tax professional

Leverage allows you to control a large position with a smaller deposit (margin). It amplifies both potential profits and losses based on the size of your exposure rather than your initial investment.

Key risks include market volatility, the use of leverage amplifying losses, overnight fees, and potential currency conversion risks for non-GBP traders. You can lose more than your initial margin.

Use risk management tools like stop-loss and take-profit orders, manage position sizes, limit leverage, and stay informed about market conditions. Diversification can also mitigate risk.

Profit or loss = (Closing price – Opening price) x Position size. If the asset moved in your favor, you profit; otherwise, you incur a loss.

Costs include the spread (difference between buy and sell price), overnight financing fees, and currency conversion fees (if applicable).

In the UK, CFD profits are subject to Capital Gains Tax, unlike spread betting, which is exempt for retail traders where trading isn’t their full-time job. Tax treatment varies by country and individual, so consult with a tax professional.

You can trade outright oil products and 10 major FX pairs.

Select the asset you want to trade, decide the size of your position, set any stop-loss or take-profit levels, and choose whether to buy (go long) or sell (go short). This is true for FX pairs only, for trading our Oil products it is phone dealing only – this manner is apparent on the platform. Simply select the phone icon on any given product and deal through our brokerage.

Yes – Our MetaTrader 5 platform has a chart function which allows you to have multiple charts on screen, using various time frames, indicators, strategies, drawings and much more.

You will first need to download the MetaTrader 5 app on from the App Store or Google Play store. Once you have signed up you will receive your log in details. You can then select the option to ‘Log In’ via the app using your new log in details.

When you sign up for an account, you will receive your log in details. With MetaTrader 5 you will be given a numerical log in ID and a password which you can change once you have logged in.

The platform itself has a functionality course which shows your how to use the various tools available in the platform. There is also a MetaTrader 5 guide which can be found here. Please reach out to our Account Managers via this number: 0203 097 5000.

MetaTrader5 available on Windows, Mac, Web, iOS and Android devices.

For the downloaded terminal windows 10 or later is strongly recommended, any Apple MacOS will also run the platform. if you don’t have either then please use the web terminal.

IMPORTANT: In order to trade using the terminal you must have ‘Algo Trading’ enabled.

1. Easily switch between markets, without the need for market watch

2. Close all positions or all winners, reverse the direction of the trade (if you think the market is going to rebound) or hedge your position with on click (great for economic data releases if you want to keep your position but ride out the volatility)

3. Change trade size, add take profit, stop loss or trailing stop loss

4. Spread (in pips)

5. See your estimated margin requirement (how much of your equity goes into a trade)

6. Preset your favourite volumes, so they are easily selectable

7. Balance information for your account

8. Information on the open positions on your account and the ability to edit them

9. Chart Controls

• GRD – Show Gridlines
• TRD – Show trade entry line
• MRK – Show order markers
• LDR – Show order ladder (for easy order inputs)
• BID – Show bidlines
• ASK – Show askline
• PER – Show dotted line for where each day ends
• VOL – Show volume
• HST – Historic Trades
• HL0 – High low of the day
• HL1 – High low of yesterday
• HLS – Recent High/Low points of the most recent swing
• PVT – Show Pivot Points
• CNT – Candle Countdown (showing how long until the next candle starts)
• 10. Lot size Calculator – calculate the lot size from your risk tolerance.
• 11. Information about the symbol, daily range and the trend/momentum/strength on the current time frame.

10. How to use the ladder: The green and red bars on the left of the terminal can be used to easily set orders at a specific price point. The lots need to be set first on the terminal and when setting the order it needs to have a stop loss and take profit (these can be changed or removed afterwards). The green ladder or left ladder is for buys, the right ladder or red ladder is for sell orders.

These are fees charged when you hold leveraged positions overnight on FX pairs. They cover the cost of borrowing capital and can vary based on the interest rate and position size.

It involves borrowing funds to trade larger positions with a fraction of the capital. Margin acts as collateral, and if the position moves against you, additional funds may be required.

Spreads (the difference between buy and sell prices) are determined by market liquidity, volatility, and the broker’s pricing model. More liquid markets typically have tighter spreads.

A type of stop-loss that guarantees execution at the set price, regardless of market volatility. It protects you from slippage but involves a premium charge.

If your balance drops below the required margin, you may receive a margin call or your position could be automatically closed to prevent further losses.

When trading assets in different currencies, profits and losses are converted to your account’s base currency. Exchange rates can affect your overall returns.

The platform typically charges an overnight funding fee for positions held past the market close, and it adjusts the margin requirements accordingly.

Funding Charges depend on the asset you are trading.

• Forex: We charge the next rate plus an admin fee (0.00278%)
• Spreadbet Long: Bet Size x (Offer Tom Next + Admin Fee)
• Spreadbet Short: Bet size x (Bid Tom Next + Admin Fee)
• CFD Long: Number of contracts x value of contract x (Offer Tom Next + Admin Fee)
• CFD Short: Short: Number of contracts x value of contract x (Bid Tom Next + Admin Fee)
• Commodities: Price Consideration – Front Month Future (F0) is the nearest/most liquid future price Next Future (F1) is the next month’s future price.

CFD Example:

• (F0) October future price $70.00
• (F1) November future price $71.00
• Trade Size = 1 lot (100 barrels ($1 per 0.01))
• Overnight fee => $1 /30days= $0.03333 daily adjustment + Onyx Markets fee (0.00833% daily)
• Overnight Charge = 1 lot (100 Barrels) *($0.03333 + (0.00833% *$70.50)
• Overnight Charge = 100 * ($0.039)
• Overnight cost = $3.92
• Converted to £ = £3.02

Here are our trading hours:

• Oil Commodity “swaps”: 08:00 – 17:30 Weekdays
• Nat Gas, FX Spot: 23:00 Sunday to 22:00 Friday
• WTI: 00:00 to 23:00 Monday to Thursday, 00:00 to 22:00 Friday
• Brent: 01:00 to 23:00 Monday to Thursday, 01:00 to 22:00 Friday
• All hours in UK Local Time – GMT/BST

Effective risk management includes setting stop-loss orders, using proper leverage, and ensuring enough funds in your account to cover margin calls. Also keeping an eye on when volatility driving data releases are out.

Please click here for more information on how to upgrade as a professional client. Alternatively, feel free to raise this with your Account Manager or our support team whenever suits you.