Forex markets follow a T+2 settlement convention, meaning trades settle two business days after they are placed. Because markets are closed over the weekend, a position held open on Wednesday will settle on Friday — but if it rolls over again, the next settlement date skips Saturday and Sunday, landing on Monday. To account for this, Wednesday carries three days' worth of overnight funding fees in a single charge, covering Friday, Saturday, and Sunday.
Do fees apply over the weekend even though markets are closed?
Yes. Although you cannot trade over the weekend, funding costs continue to accrue on open positions. These are collected in advance as part of the Wednesday triple charge rather than on Saturday or Sunday directly.
Can the charges change around public holidays?
Yes. If a public or bank holiday falls during the week, settlement dates shift accordingly, which can affect when the higher multiplier is applied and by how many days. It may not always fall on a Wednesday in these cases. IG will notify you of any changes, but it is worth checking the holiday calendar regularly if you plan to hold positions over a holiday period.