FCA Flags Overnight CFD Charges in Consumer Duty Review

The Financial Conduct Authority has published examples of good and poor practice for contracts-for-difference providers under the Consumer Duty, following a survey of 81 CFD firms. The publication follows the regulator’s November 2025 multi-firm review of how providers were meeting the Duty’s price and value outcome.

The FCA says it remains concerned about charges clients pay when holding CFD positions overnight. In particular, it says the level of those charges and the way they are applied may not always be consistent with firms’ price-and-value obligations. It also says some firms may not be providing enough information about such charges to meet consumer-understanding obligations.

The review is directed at firms, rather than imposing a new product rule for retail clients. Still, it sets out the FCA’s current supervisory expectations and gives examples for firms to consider when assessing their pricing, customer communications and value assessments.

Why it matters

Overnight financing can be a material component of the cost of keeping a leveraged CFD trade open. Traders should be able to see how a provider applies the charge and compare it with the expected holding period of a position. The FCA’s findings may prompt affected providers to revisit pricing disclosures, calculation methods and customer communications.

What to watch next

The FCA says the publication shares areas where CFD firms could do more to meet their Consumer Duty price-and-value obligations. Any subsequent firm changes to overnight-cost disclosures or pricing practices will be the practical signal for active CFD clients to monitor.