All trading involves risk. Losses can exceed deposits.

Margins

Our tiered margining system means we can offer rates that remain competitive while reflecting the size of your position and associated liquidity of the market.

All trading involves risk. Losses can exceed deposits.

What is margin?

Margin trading gives you full exposure to a market using only a fraction of the capital you’d normally need.

Margin is the amount of money you need to open a position, defined by the margin rate. 

For example: if you were to buy £1000 of shares through a traditional broker, you’d need to pay the full £1000 upfront to own them (plus the associated broker charges).

As a spread bet or CFD is a leveraged product, you don’t need to pay the full value of your exposure in order to deal. Instead, you’ll only need to put up a fraction of your total exposure to open your position.

There are two types of margin to consider:

Initial margin

The initial margin is the minimum amount you’ll need to put up to open a position. It is sometimes called the deposit margin, or just the deposit.

Maintenance margin

The maintenance margin, also known as variation margin, is extra money that we might need to request from you if your position moves against you. Its purpose is to ensure you have enough money in your account to fund the present value of the position at all times – covering any running losses.

Margin at IG

At IG we offer competitive margins across our full range of markets.

Tiered margining

Smaller deal sizes generally benefit from better market liquidity and these positions attract our lowest margin rates.

How are share margins calculated?

Things to remember

  • Ensure you have enough funds in your account to cover both margin and losses.
  • Your CFD and spread betting accounts are margined independently: funds in one account will not cover the margin requirement or losses in another.
  • Limit potential losses and reduce your margin requirement by using stops (tier one only).

Our margin requirements

Here's a summary of our tier one margin requirements for some of our most popular markets. For all tier one margins, you can reduce your margin requirement with the use of stops. 

See each market's charges and costs for individual margin rates.

Forex

Spread betting

CFDs

Spot FX EUR/USD 0.5% 0.5%
Spot FX GBP/USD 0.5% 0.5%
Spot FX AUD/USD 0.5% 0.5%
Spot FX EUR/JPY 0.5% 0.5%
Spot FX USD/CHF 5% 5%

Stock index

Spread betting

(margin factor)

CFDs

(margin per contract)

FTSE 100 0.5% 0.5%
Wall Street 0.5% 0.5%
Germany 30 0.5% 0.5%
US 500 0.5% 0.5%
US Tech 100 0.5% 0.5%

 

Commodities

 

Spread betting

(margin factor)

CFDs

Spot Gold 9 1%
Spot Silver (5000oz) 30 1.5%
High Grade Copper 470 $1175 per contract
US Light Crude 65 $650 per contract
Brent Crude 75 $750 per contract

See our full tiered margin list for spread bets (PDF, 916KB) and CFDs (PDF, 941KB). Please note, preferential rates may be available for tiers three and four. Please see our premium services for more information.

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Shares

Share margins

Margin requirements for both CFD and spread betting positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

Spread bet

CFD

No stop

Bet size x price (in points) x deposit factor (%)

E.g. £10/point Vodafone at a price of 194:

£10 x 194 x 5% = £97 margin

 

Number of shares x share price x margin percentage

E.g. 1000 Vodafone shares at a price of £1.94:

1000 x 1.94 x 5% = £97 margin

Stop

(Deposit requirement for no stop x slippage factor %) + (bet size x stop distance from current level)

E.g. £10/point Vodafone at a price of 194, with a non-guaranteed stop 3 points away:

(£97 x 30% + (£10 x 3) = £59.10 margin

(Margin for equivalent trade with no stop x slippage factor) + value per point* x stop distance

E.g. 1000 Vodafone shares at price of £1.94, with a non-guaranteed stop 3 points away:

(£97 x 30% + (£10 x 3) = £59.10 margin

* Note: 100 UK shares = £1 per point, 100 US shares = $1 per point, 100 Euro shares = €1 per point etc

 

Guaranteed stop

Bet size × stop distance (in points) 

E.g. £10/point Vodafone at a price of 194, with a guaranteed stop 11 points away:

£10 x 11 = £110 margin

Value per point x stop distance:

E.g. 1000 Vodafone shares at a price of 194, with a guaranteed stop 11 points away:

£10 x 11 = £110 margin

 

Forex

Forex margins

Margin requirements for both CFD and spread betting positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

Spread bet

CFD

No stop

Bet size x price x margin percentage

E.g. £5 GBP/USD:

£5 x 15347.0 x 0.25% = £191.84 margin

 

Number of contracts x contract size x price x margin percentage

E.g. 2 contracts GBP/USD:

2 x £100,000 x 1.53470 x 0.25% = $767.35

Stop

(Deposit requirement for no stop x slippage factor %) + (bet size x stop distance from current level)

E.g. £5/pt GBP/USD with a non-guaranteed stop 20 points away:

(£191.84 x 20%) + (£5 x 20) = £138.37 margin

 

(Margin for equivalent trade with no stop x Slippage Factor) + (Number of contracts x value per point x stop distance)

E.g. 2 contracts GBP/USD with a non-guaranteed stop 20 points away:

($767.35 x 20%) + (2 x $10 x 20) = $553.47 margin

Guaranteed stop

Bet size x stop distance (in points) 

E.g. £5 GBP/USD with a guaranteed stop 20 points away:

£5 x 20 = £100 margin

Number of contracts x value per point x stop distance

E.g. 2 contracts GBP/USD with a guaranteed stop 20 points away:

2 x $10 x 20 = $400 margin

 

Indices

Stock index margins

Margin requirements for both CFD and spread betting positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

Spread bet

CFD

No stop

Bet size x margin factor

E.g. £10/ point of the FTSE 100:

£10 x 23 = £230 margin

Number of contracts x margin per contract

E.g. one contract of FTSE 100:

1 x £230 = £230 margin

Stop

(Deposit requirement for no stop x slippage factor %) + (bet size x stop distance from current level)

E.g. £10/pt of the FTSE 100 with a non-guaranteed stop 12 points away:

(£230 x 20%) + (£10 x 12) = £166 margin

(Number of contracts x slippage amount per contract) + (number of contracts x contract size x stop distance)

E.g. 1 contract FTSE 100 with a non-guaranteed stop 12 points away:

(1 x £46) + (1 x £10 x 12) = £166 margin

Guaranteed stop

Bet size × Stop distance (in points) 

E.g. £10/point of the FTSE 100 with a guaranteed stop 12 points away:

£10 x 12 = £120 margin

Number of contracts x contract size x stop distance:

E.g. 1 contract FTSE 100 with a guaranteed stop 12 points away:

1 x £10 x 12 = £120 margin

 

Commodities

Commodity margins

Margin requirements for both CFD and spread betting positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

Spread bet

CFD

No stop

Bet size x margin factor

E.g. £5/point Brent Crude:

£5 x 75 = £375 margin

Number of contracts x margin per contract

E.g. 2 contracts Brent Crude:

2 x $750 = $1500 margin

Stop

(Deposit requirement for no stop x slippage factor %) + (bet size x stop distance from current level)

E.g. £5/pt Brent Crude with a non-guaranteed stop 30 points away:

(£375 x 20%) + (£5 x 30) = £225 margin

(Number of contracts x slippage amount per contract) + (number of contracts x contract size x stop distance)

E.g. 2 contracts Brent Crude with a non-guaranteed stop 30 points away:

(2 x $150) + (2 x $10 x 30) = $900 margin

Guaranteed stop

Bet size x Stop distance (in points) 

E.g. £5/pt Brent Crude with a guaranteed stop 30 points away:

£5 x 30 = £150 margin

Number of contracts x contract size x stop distance:

E.g. 2 contracts Brent Crude with a guaranteed stop 30 points away:

2 x $10 x 30 = $600 margin

 

Tiered margining

What is tiered margining?

Tiered margining enables us to set margin rates that reflect and best fit the size of your aggregate position* in a particular market. The majority of positions will attract our lowest margin rates, reflecting the liquidity of the market at smaller deal sizes. The largest positions may require greater margin, as it is more difficult to trade out of these positions quickly.

We will determine your initial margin using a table of four incremental tiers. The margin rate will increase progressively as your aggregate position moves up from one tier to the next. However, only the portion of your position that falls into a higher tier will be subject to its increased margin rate.

The range of the four tiers differs for every market.

See our tiered margining list for share spread bets and share CFDs. For our tiered margining levels on other markets, please use Get Info inside our dealing platform. 

*For the purposes of tiered margining, your aggregate position includes your non-limited-risk open positions and orders to open.

Margin factor

Margin factor

Margin factor is the variable used to multiply your bet size, to define your margin requirement.

Contact us

We're here 24hrs a day from 8am Sunday to 10.15pm Friday,
and 9am to 5pm Saturday.

0800 409 6789

You can also call 0207 896 0079 or
email helpdesk.uk@ig.com