For about a 6 month period CMC had a variable margin option when they transitioned from the older market maker platform, it allowed up to zero margin using a sliding scale,
I was using this feature, but they removed it when they upgraded, when I asked why they said that it was not a popular feature.
Call me suspicious but I think it was about having everyone pay interest on positions.
On the other hand it may be true if most people that use CFDs are attracted to the insanity of huge leverage.
Anyhow I don't know of any CFD providers that allow no leverage.
As others suggested you can always back any position you have with the total amount of cash backing in your account, but CFD providers will stop you out if you hit the margin limit that is specified by them.
People get into trouble when they have a large leveraged position with individual stocks that can gap up or down against them once the market re-opens.
It is much safer to trade instruments that cycle 24hrs.
I never short individual stocks as a rule, only short indexes, currencies or very liquid commodities.
