How to Trade the S&P 500 (US500): Costs, Margin and Point Value on MT5

Educational content. This article explains what drives the S&P 500 and what a US500 CFD position costs and locks on the MT5 platform. It does not constitute investment advice or a recommendation. CFD trading carries significant risk of loss and may not be suitable for all investors.

US500 is the S&P 500, the index of about 500 of the largest listed US companies, traded as a cash-settled CFD. One lot equals one index point, so a move of 1.00 in the index is worth USD 1 per lot. At the 1:100 leverage cap on indices, one lot at 7,709 points has a notional value of about USD 7,709 and locks about USD 77 of margin, so a 1% move in the index equals the whole margin.

This guide explains what moves the index, what the Vanto specifications for US500 look like next to US100 and US30, how the costs of holding a position add up, and how large a normal price move is compared with the margin.

What the S&P 500 Is

The S&P 500 tracks about 500 large US companies and is weighted by market capitalisation, adjusted for the shares available to trade. That method gives the largest companies the largest weights, and a small group of very large technology and platform companies account for a large share of the index. The current weights are published by the index provider and change with prices. The weighting methods are compared in how to trade indices.

The consequence for a trader is that the index is not an average stock. When the largest companies rise or fall together, they move the index more than the other companies combined, and the performance of the average company can differ noticeably from the headline index.

What Drives US500

• Earnings of the largest companies. Quarterly reporting seasons concentrate the moves, and results from the biggest firms can move the whole index.
• US interest rates and Treasury yields. Higher yields raise the discount rate applied to future earnings, which has historically pressed on equity valuations; the channel is explained in why stocks fall when bond yields rise.
• The Federal Reserve. Rate decisions and guidance move both yields and expectations, and the reaction can reverse within a session. See how FOMC meetings affect the US dollar for the release mechanics, which are the same events.
• US data. Inflation and jobs releases change the expected rate path. See how CPI affects the US dollar and how NFP affects the US dollar.
• Risk sentiment. The VIX, the market's measure of expected S&P 500 volatility, tends to rise when the index falls; see how to trade the VIX.

US500 at Vanto: Specifications Next to US100 and US30

The figures are from the live Vanto feed at 29 September 2026, 11:35 UTC. They are a snapshot; prices and spreads change.

Two observations follow. The point value is the same, USD 1 per lot, on all three, but the index levels differ, so the same lot size controls very different notional exposure: a lot of US30 is about seven times the exposure of a lot of US500. And the spread in points is smaller on US500, but as a share of the price the three are close, so the cost of entry does not decide the choice between the indices. The exposure and the point value do.

How a US500 Position Adds Up

A long position of 1 lot opened at the ask of 7,708.78 illustrates the numbers.

The fourth row is the key one. Because leverage is 1:100, the margin is 1% of the notional value, so a 1% move in the index changes the position by the same amount as the margin. A 1% move in a day is well within ordinary variation for an equity index, so the leverage cap says little about the risk that is actually being taken. What sets the risk is the size of the position relative to the account, not the margin.

For example, on a USD 1,000 account with 1 lot open, the margin used is about USD 77, and the platform stops the position out when equity falls to 50% of the used margin, at about USD 38.50. That is a loss of about USD 961, or about 961 points, on an index at 7,709. A trader who sized by the margin ("I only need USD 77") holds a position that is around 7.7 times the account's equity in notional terms. The rules for stop-out are in what is stop-out level in trading, and the margin for every instrument is in the margin table.

Costs of Holding a Position

• The spread, paid on entry. Around 0.51 points at the snapshot, it widens around news and at the market open.
• Overnight financing (swap). On US500 the long position is debited and the short position is credited at the snapshot. Indices roll on Friday, which is the triple swap day, not Wednesday as on forex. See what is swap in trading.
• Dividend adjustments. A CFD holder receives no dividends. Instead, on the ex-dividend dates of the constituents, longs are credited and shorts debited the equivalent amount. The projected adjustments are shown in the dividend table on the indices page, and the mechanism is explained in CFD index trading.
• Commission, on the Raw account only. The current terms are on the account types page.

Risks Specific to a Stock Index CFD

• Gaps. The market is closed on weekends, and news can move the index before it reopens. A stop-loss then fills at the next available price. The DAX example in CFD index trading shows the mechanics.
• Concentration. A few very large companies can move the index against the average stock, and a shock to one of them can move US500 as a whole.
• Event clustering. The index can move sharply on the same days as inflation data, jobs data and Fed decisions, and the moves can reverse within hours.
• Leverage. As the example shows, a 1% move equals the whole margin, so position size is the main risk control.

Frequently Asked Questions

What is US500?

US500 is the symbol for the S&P 500 CFD on Vanto's MT5 platform. It tracks the index of about 500 large US companies and is settled in cash.

What is the value of one point on US500?

USD 1 per lot per point. A position of 0.01 lot is worth USD 0.01 per point, and a position of 10 lots USD 10.

How much margin does one lot of US500 need?

About USD 77 at the September 2026 snapshot and the 1:100 index cap. The figure moves with the index level: at 8,000 points, one lot needs about USD 80.

Does US500 pay dividends?

No. A CFD holder receives a dividend adjustment instead: a credit for a long position and a debit for a short one, on the ex-dividend dates of the index constituents.

What is the difference between US500, US100 and US30?

They are different indices: the S&P 500 (500 companies, capitalisation-weighted), the Nasdaq-100 (100 large non-financial companies, technology-heavy) and the Dow Jones Industrial Average (30 companies, price-weighted). The point value per lot is the same, but the index levels and the composition differ.

Which day is the triple swap day on US500?

Friday, at the September 2026 snapshot, not Wednesday as on forex pairs. The mechanism is explained in what is the triple swap day.

Where to Go Next

For the wider index framework, read how to trade indices and CFD index trading. To compare with a European index, see how to trade the DAX 40. The Vanto trading calculator computes margin, point value and swap for US500 at the live price.

Risk warning. Trading securities, futures, options, and contracts for differences are complex financial instruments that require knowledge and understanding. Prices can fluctuate significantly and securities may become valueless. Investors may incur losses exceeding the potential for profits. Trading on margin can result in losses greater than the amount initially deposited. Past performance is not necessarily a guide to future performance. The information in this article is for educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instrument. Consider whether CFD trading is appropriate for your circumstances and seek independent advice if necessary.