What are IG's forex CFD product details?

Our foreign exchange transactions are a special form of cash-settled CFD that provide exposure to changes in exchange rates, but cannot result in the delivery of the underlying currencies.

*PLEASE NOTE: Dealing hours for US Markets have not been adjusted for US clock changes on Sunday 14 March, 2021. Please adjust all US Market times one hour earlier.

1. Unless otherwise stated, normal dealing hours for all pairs are from 21.00 (London time) on Sunday until 21.59 (London time) on Friday, with the exception of emerging-market pairs, which operate on different schedules.
   
   Weekend Markets are currently available on select currency pairs from 08:00 (UK time) on Saturday through to 20:40 (UK time) on Sunday.
   
   Please note that Daylight Savings Time in the UK or the country of origin may cause the times shown to be imprecise.
2. The minimum transaction size is one contract. Transactions above this minimum size, can be in fractions of a contract.
3. Spreads are subject to variation, especially in volatile market conditions. Our quotations are derived from quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We monitor the liquidity available in the underlying market, offering our minimum spread when the market spread is particularly small. In most other conditions, our typical spread applies. If spreads move wider in the underlying market, we may match this. We do not apply any weighting or biases to our pricing sources.
4. For limited-risk transactions a limited-risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.
5. Margin requirements represent a percentage of the overall position value. You can find the tiered margins from the 'Get Info' dropdown section within each market in our trading platform. Please note that higher margins may be required for large positions. Please see our tiered margining page for more details.
6. When you trade in a currency other than your default currency, your profit or loss will be realised in that currency. As standard practice, we will then immediately convert this back to your default currency. You can change this at any time via the trading platform.
7. For foreign exchange transactions (excluding bitcoin), adjustments are made to calculate the cost of funding a position, and these are posted to the client's account daily. The adjustments are calculated as follows:
   
   A = V x R
   
   Where:
   A = the funding cost
   V = the number of contracts x contract size
   R = the current tom-next rate, including IG's charge for holding positions overnight which is no more than 0.0022% per day.
   
   If the Tom-Next rate is less than zero, you will be debited for running a short position and credited for running a long position. If the tom-next rate is greater than zero, you will be credited for running a short position and debited for running a long position.
   
   The funding charge is calculated for any position opened before 22.00 that is still open after 22.00 (London time).
   
   Note: For any position opened before 22.00 Wednesday that is still open after 22.00 Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period. The funding charge is also affected by public holidays.
8. We will not charge any additional commission unless we notify you in writing
9. Here's a rundown of when weekend trading can and can't impact your stops and limits:
   
   Stops and limits on an existing weekday indices position can't be triggered on a weekend
   Stops and limits on an existing cryptocurrency position can be triggered on a weekend
   Any stops and limits on a weekend position can be triggered on a weekend
   Please note that weekend positions with attached stops/limits will not be netted off against existing weekday contracts. In this instance the weekend position will roll into a new weekday position, with the same stops/limits attached.
   
   Similarly, weekend positions will not net off against existing weekday contracts if the weekday contracts have stops/limits attached. In this instance, weekend positions will be rolled into new weekday contracts.