Forex trading
Harness volatility in the world’s most-traded financial market with the world's No.1 retail forex provider.1
Trade forex on our international account.
Call 010 500 8624 or email newaccounts.za@ig.com to talk about opening a trading account. We’re here 24 hours a day, from 9am Saturday to 11pm Friday.
Contact us: 010 500 8624
Why trade forex with us?
Get an edge with the UK's best web-based platform and award-winning mobile trading apps2
Negative balance protection ensures that your
account never stays below zero3
Get friendly, expert support 24 hours a day from 6am Saturday to 10pm Friday
Identify FX opportunities on clear, fast charts, and deepen your analysis with ProRealTime
Get peace of mind trading forex online with a provider that's authorised and regulated by the FCA
Open a free account quickly and easily - you could be trading forex in minutes
Ways to trade forex with IG
| CFD | DMA (Forex Direct) | |
| Main benefits | Tax-deductible losses are useful for hedging4 | Increased market transparency and order control |
| Accessible to | All clients | Professional clients only5 |
| Traded in | Contracts | Lots |
| Tax status | No stamp duty, but you do pay CGT. Losses can be offset as a tax deduction4 | No stamp duty, but you do pay CGT. Losses can be offset as a tax deduction4 |
| Commission | Commission-free for FX | Variable commission |
| Platforms | Web, mobile app and advanced platforms | L2 dealer, mobile app, terminals and APIs |
| Learn more about CFD trading | Learn more about DMA |
What is forex trading?
Forex trading, is the buying and selling of currencies on the foreign exchange market with the aim of making a profit.
Forex is the world’s most-traded financial market, with transactions worth trillions of dollars taking place every day.
What are the benefits?
- Go long or short
- 24-hour trading
- High liquidity
- Constant opportunities
- Trade on leverage
- Wide range of FX pairs
How do I trade forex?
- Decide how you’d like to trade forex
- Learn how the forex market works
- Open a forex trading account
- Build a trading plan
- Choose your forex trading platform
- Open, monitor and close your first position
Open an account now
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to 17,000 global markets, with reliable execution
React faster with powerful technology
Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach
Grow your confidence with an established provider
We’re a FTSE 250 company that’s been leading our industry for nearly 50 years, so our expertise is second to none
Open an account now
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to 17,000 global markets, with reliable execution
React faster with powerful technology
Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach
Grow your confidence with an established provider
We’re a FTSE 250 company that’s been leading our industry for nearly 50 years, so our expertise is second to none
How much does FX trading cost?
Margins
When you trade CFDs you do so with leverage - meaning you can win, or lose, a significant amount more than your initial deposit - called your margin. Though not actually a cost to you, the margin you pay makes a big difference to the affordability of your forex trade.
Spreads
Your key payment for trading forex is the spread - the difference between the buy and the sell price - our charge for executing your trade. We work to keep our spreads among the lowest in the business.
Spot FX |
IG min. spread |
IG av. spread5 |
IG av. spread6 (00:00-21:00) |
DMA av. spread7 |
| EUR/USD | 0.6 | 0.75 | 0.86 | 0.142 |
| AUD/USD | 0.6 | 0.76 | 1.07 | 0.329 |
| USD/JPY | 0.7 | 0.76 | 0.96 | 0.212 |
| EUR/GBP | 0.9 | 1.23 | 1.83 | 0.398 |
| GBP/USD | 0.9 | 1.17 | 1.84 | 0.639 |
| EUR/JPY | 1.5 | 1.64 | 1.96 | 0.48 |
| USD/CHF | 1.5 | 1.7 | 1.95 | 0.489 |
Depending on your position, you may need to pay overnight funding.
It's free, quick and simple to create an account with us. Open one today, and you'll get access to over 17,000 financial markets.
When you're ready, you choose your deal size. What's more, you'll get lower minimums for one month while you master the markets.
Discover your next opportunity
Search our huge range of forex pairs.
Live FX prices
These prices are indicitive only, and subject to our website terms and conditions.
Choose your currency trading platform
Seize opportunity at your desk or on the go with the UK’s best web trading platform and mobile trading app.2
FAQs
How much does it cost to start trading forex?
The cost of trading forex depends on which currency pairs you choose to buy or sell. With IG, you’ll trade forex on margin , which means you need a small percentage of the full value of the trade to open and maintain your position. Margin isn’t a direct cost to you, but it has a significant impact on the affordability of your trade. Our margin rates start from as little as 0.45%.
Other than the margin, you also pay a spread, which is the difference between the ‘buy’ and the ‘sell’ price of an asset. To open a long position, you’d trade slightly above the market price (buy price) and to open a short position, you’d trade slightly below the market price (sell price).
Lastly, if you do not close your position before the end of the trading day, you will pay overnight funding charges.
Read more about forex costs and charges here
Is forex open on weekends?
No, the forex market closes at 11pm on Friday, and does not open again until 10pm on Sunday. However, IG offers weekend trading on the GBP/USD currency pair. This means you never need to miss an opportunity to trade.
Note that the market is only closed to retail traders (not central banks and related organisations), so there can be a difference in price between Friday close and Sunday open.
When is the best time to trade the forex market?
The best time to trade forex will depend on your personal risk preference, as high liquidity and volatility can affect forex prices. When the London session opens at 9am, liquidity and volatility will likely be high as traders begin interacting with each other. Trading will usually become less liquid a few hours later, and it will pick up again after the American session opens at around 1 pm.
The foreign exchange market is open 24 hours a day, five days a week – from 10pm Sunday to 11pm Friday. So, you can trade at a time that suits you and take advantage of different active sessions.
Remember: the forex market’s opening hours will change when certain countries shift to daylight savings time.
How do I open a forex trading account?
With IG, you can open a forex trading account online , call 010 344 0051 or email helpdesk.za@ig.com. It only takes a few minutes to create an account, and there’s no obligation to add funds until you want to place a trade.
Alternatively, you can open a demo account to experience our award-winning platform and develop your forex trading skills.
Award-winning forex provider
Choose the No.1 FX retail provider1
IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?
Choose the No.1 FX retail provider1
IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?
Choose the No.1 FX retail provider1
IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?
Choose the No.1 FX retail provider1
IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?
Choose the No.1 FX retail provider1
IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?
Choose the No.1 FX retail provider1
IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?
Get the latest forex news
-
Look ahead: Japan CPI; German PPI; UK retail sales; Procter & Gamble; American Express
2024-04-18T15:40:00+0100
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1 By number of primary relationships with FX traders (Investment Trends UK Leveraged Trading Report released July 2020).
2 Best trading platform as awarded at the ADVFN International Financial Awards and Professional Trader Awards 2019. Best trading app as awarded at the ADVFN International Financial Awards 2020.
3 Negative balance protection applies to trading-related debt only, and is not available to professional traders.
4 Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.
5 The advertised offering is only available to individual clients capable of obtaining ‘professional’ status. This requires experience of trading relevant products on your own account above a certain size, experience of working within the financial sector for at least one year in a relevant position and/or a personal investment portfolio worth at least €500,000.
6 Average spread (between 00:00-21:00 GMT Monday to Friday) for the 12 weeks ending 29th May 2020. For our minimum spreads, please see our forex CFD details.
7 Average spread (between 00:00-21:00 GMT Monday to Friday) for the 12 weeks ending 29th May 2020. There is also a commission charge for Forex Direct.
Contact us
Interested in opening an account?
Contact 010 500 8624 or
Want to check on your application's progress? Email
Clients: Help and support
WhatsApp: Click here
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