Margin rates from 10% and commissions from 0.1% per side
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Our Share CFDs give a client exposure to changes in share prices but cannot result in delivery of actual shares by or to the client.
Note: Subject to risk reviews, the margin rates may differ for individual clients.
For Singapore clients a minimum margin rate of 10% applies to all Share CFDs, due to MAS regulations.
Overseas residents may have a higher minimum margin rate of 20% for shares. If you have any questions please contact us on +65 6390 5118 or refer to the ‘Get Info’ tab on the trading platform to clarify the margin rate for each share.
|International Order Book (IOB)*||0.15%||US$15||US$25|
1 Euro includes: Austria, Belgium, Finland, France, Germany, Italy, Netherlands, Portugal, Spain.
* IOB Shares are Depository Receipts that trade on the International Order Book on London Stock Exchange
^ Nine Singapore shares are denominated in US dollars and have a minimum ticket of US$15. These are:
We offer constituents of the global indices listed below, and all trades are denominated in their local base currency. Other world markets may be available on request.
We offer all shares in the FTSE 350 index, and normally all other UK-listed shares with a market capitalisation of over £10 million.
We offer all the constituent shares of the S&P 500 index and the NASDAQ 100 index, as well as sufficiently liquid US shares with a market capitalisation of greater than $500 million.
These contracts are denominated in US dollars, and US dollar interest rates apply. We also offer CFD share trading on the component shares of the TSX60 in Canada; for these shares, trades are denominated in Canadian dollar and Canadian dollar interest rates apply.
We offer all the constituent shares of each country's principal index. These contracts are denominated in euros, and euro interest rates apply; except for Danish, Norwegian, Swedish and Swiss shares, which are denominated in Danish kroner, Norwegian kroner, Swedish kronor and Swiss francs.
|Germany||DAX, HDAX, MDAX|
|Sweden||OMX Stockholm Benchmark|
We offer constituents of the ASX/S&P 300 index, as well as over 700 other Australian stocks, the JSE Top 40, leading Hong Kong and Japanese shares, and constituents of the Straits Times Index Singapore.
|Country||% Client receives on long position||% Client pays on short position|
|Swiss Virt X||65||100|
While we have tried to make the information in the above table as comprehensive and up to date as possible, please remember that these details are subject to changes.
To determine whether a charge applies, call our dealers in advance of trading. The borrowing charge, and your ability to go short, can be changed at short notice.
Commission charges for CFDs are calculated as a percentage of the transaction value for most markets and as cents per share for the US and Canada. See our charges page (or the table above) for further details. Please note that if the size of your deal is such that it attracts our minimum charge on opening, you will also be required to pay a minimum charge for that deal on closing, even if you close the deal in a bundle with other deals where the aggregate size is above our minimum. Where we offer a CFD on an equity that is dual-listed and fully fungible for settlement on both exchanges, the commission charges applicable to that CFD will be the charges relevant to the country where primary listing is held.
Clients will be informed in writing of the commission rates and financing rates which apply to their account at the time the account is opened.
Limited risk transactions
Limited Risk transactions are available on certain shares at our discretion.
The limited risk premium for each individual share is given in our share CFDs list (PDF, 500KB) (including UK, US, Australia, France, Germany, Italy, Sweden, Singapore and other world shares). The Limited Risk premium for South African and IOB shares is 1.0%. For all other shares the premium for a Limited Risk transaction is normally 0.3% or 0.7%. (Please note that the Limited Risk premium for all shares may be as much as 1.5% of the transaction value depending on market conditions and the volatility of the particular share.)
The limited risk premium is charged when the transaction is opened.
The Margin Percentage for any particular CFD is calculated as a percentage of the current valuation of the transaction. Please see the share CFDs list (PDF, 500KB) for Margin Percentages of specific shares.
The Margin Percentage for major UK shares, and key constituents of US and European indices, is 10% on a Trader Account. The Margin Percentage for all other shares will be 20% or higher according to volatility and market conditions.
The Margin Percentage for a Limited Risk CFD transaction is equal to the amount which would be lost if the Stop were triggered.
Please note that Tiered Margining applies; this means that higher margins may be required for large positions. Please see our margins page for details.
We reserve the right to alter the Margin Percentage at any time.
Subject to risk reviews, the margin rates may differ for individual clients.
Minimum opening value
There is no minimum opening contract value for CFDs on individual shares.
Dealing hours are as follows:
For CFDs on individual shares, adjustments to reflect the effect of interest and dividends are calculated daily and posted to the client's account daily.
i) A daily interest adjustment is calculated, as follows, for any position that is kept open through the official close of business:
D = n x C x i / 365
D = daily interest adjustment
n = number of shares
C = official closing share price
i = applicable annual interest rate
Note: The formula uses a 365-day divisor for UK, Singapore and South African shares and a 360-day divisor for shares in other markets.
The applicable annual interest rate is based on prevailing interest rates and our funding adjustment, usually 2.5% per annum. Interest on long positions is debited from a client's account; on short positions, there may be a credit or a debit.
ii) A dividend adjustment is applied when a share passes its ex-dividend date (including the ex-date of any special dividend) in the underlying stock market. In the case of long positions, the dividend adjustment is credited to the client's account. In the case of short positions, the dividend adjustment is debited from the client's account. In the case of Singapore shares, the dividend adjustment is equal to the amount of the net dividend. The dividend adjustment for shares in other markets varies depending on local tax arrangements; please ask our dealers for current details.
For CFDs, a cash adjustment may be made to the client's account to reflect the effect of a bonus share issue, scrip or rights issue affecting the underlying share. For Share CFDs in a company which is under offer in a takeover situation, IG may not be able to communicate any wish to subscribe to the takeover offer (i.e. 'assent stock').
Where you open a short share CFD position, you will incur a borrow charge. The borrow charge will be accounted for in a daily cash adjustment applied to the account. The charge varies according to the share, is notified to us by our brokers or agents and includes a 0.5% administration fee. The borrow charge, and the ability to hold a short position, can be changed at short notice. To determine whether a borrow charge applies and if so, what the charge is, call our dealers in advance of trading.
If you have an open Limited Risk share CFD position where the underlying share is subject to a rights issue or open offer and the subscription price is (a) in or at the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date, we will treat the rights issue or open offer as being successful and accordingly increase the size of your CFD position to reflect the effect of the rights issue or open offer or (b) out of the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date, we will treat the rights issue or open offer as not being successful and accordingly leave your CFD position unchanged. This treatment will apply regardless of whether a rights issue or open offer becomes successful after being out of the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date or is not successful after being in or at the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date. Importantly, in both situations, we will alter the level of your stop such that the maximum amount you are risking under this open share CFD position remains the same before and after any adjustment is made for the rights issue or open offer.
Conversion of profit/loss
When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our trading platform.
Positions using a guaranteed stop have a strictly limited maximum loss. A small premium is incurred when placing this type of position.
Tiered margining allows us to offer lower margin rates on smaller trade sizes. The tier range defines the size the trade needs to be, by number of shares, to benefit from that tier's margin rate. We offer four margin tiers.
Our standard CFD contracts aim to replicate the cash price of the underlying market.
Mini contracts work like normal contracts, except the value of one contract is significantly reduced. For some markets, this can result in a wider spread on minis. A mini contract limits your exposure to risk, but also your opportunity for profit.
Futures contracts expire at a specified time in the future. You can trade out of an open position before the expiry date, but you can’t roll a position over beyond it. The spread on futures contracts is generally slightly wider than Cash contracts because overnight funding charges are built in.