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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

What are IG's commodities CFD product details?

Discover a unique range of commodities to trade, including 27 major markets with no fixed expiries. Enjoy the tightest commodity spreads on the market.

  • Energies
  • Metals
  • Base metals contracts
  • Softs
  • Table notes

Energies information table. All contracts have no fixed expiry date.

Contract

Value of one contract (per full point)

Contract spread[1]

Limited risk
premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Oil - Brent Crude

$10

2.8

3

10.00%

2.50%

1.20%

Oil - US Crude

$10

2.8

3

10.00%

2.50%

1.20%

Heating Oil

$4.20

20

20

10.00%

2.50%

1.20%

Natural Gas

$10

3

20

10.00%

3.00%

2.80%

Carbon Emissions

$10

3

30

10.00%

10.00%

8.00%

London Gas Oil

$100

0.6

0.6

10.00%

2.50%

2.00%

No Lead Gasoline

$4.20

30

20

10.00%

2.50%

1.20%

Metals information table.

Contract

One contract means

Value of one contract (per full point)

Contract spread[1]

Limited risk
premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Spot Gold

100 troy oz

$100

0.3

0.5

5.00%

1.00%

0.40%

Spot Silver

5000 troy oz

$50

2

2

10.00%

2.50%

1.60%

Spot Palladium

100 troy oz

$100

1.2

2

10.00%

3.00%

2.40%

Spot Platinum

50 troy oz

$50

1.8

1.5

10.00%

2.50%

1.60%

High Grade Copper

25,000 lbs

$2.50

20

30

10.00%

2.50%

1.60%

Iron Ore

100 metric tonnes

CNH100

4.5

3

10.00%

5.00%

4.00%

Base metals contracts have no expiry date; the position remains open until you choose to close it. Our quotes for this market are based on the three month forward prices for the underlying instrument. Separate daily funding adjustments are made for base metals.

Contract and trading hours (Sydney time)

One contract means

Value of one contract (per full point)

Value of one mini contract (per full point)

Contract spread

Limited risk premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Aluminium
11.02-04.00

25 metric tonnes
$25
$5
6
8
10.00%

4.50%

3.60%

Copper
11.02-04.00

25 metric tons
$25
$5
10
10
10.00%

4.00%

3.20%

Lead
11.02-04.00

25 metric tons
$25
$5
6
8
10.00%

5.00%

4.00%

Nickel
11.02-04.00

6 metric tons
$6
$1
30
40
10.00%

5.00%

4.40%

Zinc
11.02-04.00

25 metric tons
$25
$5
6
8
10.00%

4.50%

3.60%

Softs information table. All contracts have no fixed expiry date.

Contract

Value of one contract (per full point)

Contract spread[1]

Limited risk premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Cocoa (London)

£10

3

4

10.00%

3.00%

2.40%

Cocoa (US)

$10

4

5

10.00%

4.50%

3.60%

Coffee Robusta

$10

3

6

10.00%

3.00%

2.40%

Coffee Arabica

$3.75

20

20

10.00%

3.50%

2.80%

Orange Juice

$1.5

20

40

10.00%

2.50%

2.00%

Cattle (Feeder)

$5

14

30

10.00%

2.50%

2.00%

Cattle (Live)

$4

12

30

10.00%

2.50%

2.00%

Lean Hogs

$4

10

30

10.00%

3.50%

2.80%

Cotton

$5

15

15

10.00%

2.50%

1.60%

LB

$1.10

60

80

10.00%

3.00%

2.40%

Sugar No.5

$50

0.6

0.8

10.00%

3.00%

2.40%

Sugar No.11 World

$11.20

3

4

10.00%

2.50%

2.60%

Wheat (London)

£100

0.4

0.3

10.00%

2.50%

2.60%

Wheat (Chicago)

$50

0.6

1.5

10.00%

2.50%

1.20%

Corn

$50

0.6

1.5

10.00%

2.50%

2.00%

Oats

$50

0.6

1.5

10.00%

3.00%

2.40%

Rough Rice

$2

20

40

10.00%

2.50%

2.00%

Soyabeans

$50

1.2

2

10.00%

2.50%

1.20%

Soyabean Meal

$1

40

50

10.00%

3.00%

2.40%

Soyabean Oil

$6

6

8

10.00%

2.50%

1.60%

Crude Palm Oil MYR25 12 10

10.00%

2.50%

8.00%

Where you see a number or letter in brackets in the tables, the corresponding note can be found below.

1. Spreads are subject to variation, especially in volatile market conditions. If the underlying market spread increases significantly, our spread may increase. Plus, large trades may be subject to wider spreads. Learn more here.

2. Commodity funding is based on the market cost of carry including an admin fee of 2.5% per annum. A daily adjustment is calculated for any position that is opened before 22.00 (London time) and that is still open after 22.00 (London time). These adjustments are posted daily to the client's account. Please note that positions held on Fridays will be adjusted for three days funding, covering the weekend. The market cost of carry reflects one day’s movement along the forward curve between the two futures contracts being used to make the undated price.

3. For Spot Gold and Spot Silver the overnight funding adjustment is based on the tom-next spread including an admin fee of 0.8% per annum.

4. Please note that tiered margins apply; this means that higher deposits may be required for large positions. See our margins page for further details. You can find the tiered margins for each market from the Get Info section in our dealing platform.

5. Contracts on Lumber are available for trading from 15.00 (London time) on the Monday of a normal business week until 22:00 (London time). The market will close early on a Friday at 19.55 (London time).

6. Iron ore is quoted during the following times: 09:00 – 11:30, 13:30 – 15:00 and 21:00 – 23:30 China Standard Time (GMT +8).

 

Spreads from 0.5 points on popular commodity futures markets

  • Energies
  • Metals
  • Softs

Energies future contracts

All contracts expire at specified future dates and are cash settled; we quote you our own bid/offer spread based on the underlying oil or gas price.

Note: We offer mini versions of all energies futures contracts at 50% of the main contract size and margin requirement (25% for Natural Gas).

Contract and trading hours (Local market time)

Value of one contract
(per index point)

Normal contract spread [2]

Limited Risk premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Contract months and last trading day [7]

Oil - US Crude
New York
24 hours
(except 22.00-23.00)EST
$10
6
3
10.00%
2.50%
1.20% Current and next month
4th bus. day before the 25th of the prior month
Oil - Brent Crude
London
01.00-23.00 GMT
$10
6
3
10.00%
2.50%
1.20% Trading shall cease at the end of the designated settlement period on the day before the last Business Day of the second month preceding the relevant contract month
Heating Oil
New York
24 hours (except 22.00-23.00) EST
$4.20
30
20
10.00%
2.50%
1.20% Current and next month
Penultimate bus. day of the prior month
No Lead Gasoline
New York
24 hours (except 22.00-23.00) EST
$4.20
30
20
10.00%
2.50%
1.20% Current and next month
Penultimate bus. day of the prior month
Natural Gas
New York
24 hours (except 22.00-23.00) EST
$10
20
20
10.00%
3.50%
2.80% Current and next month
4 trading days prior to the first calendar day of contract month
Gas Oil
London
01.00-22.00 LDN
$100
1
0.6
10.00%
2.50%
2.00% Current and next month
3rd bus. day prior to 14th day of contract month
Carbon Emissions
London
07.00-17.00 LDN
E10
6
N/A
10.00%
10.00%
8.00% Mar, Jun, Sep, Dec
Trading day preceding 3rd Fri. of contract month
UK Natural Gas
07:01-16:59 LDN
£0.01 /therm 60 0,25 25% 25% 20% Current and next month
3rd last bus. day of the prior month
EU TTF Natural Gas
07:01-16:59 LDN
€ 1.0 100 N/A 25% 25% 25% Current and next month
3rd last bus. day of the prior month


Notes for energies

All the instruments described on this site are Contracts For Difference (CFDs). Our energies contracts give you exposure to changes in the value of energy prices but they are cash settled and cannot result in the delivery of any commodity or instrument.

1. Our energies contracts give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.

2. a) CFDs on energy futures are quoted with reference to the equivalent expiry contract on the underlying futures market. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*).

d) Large trades may be subject to wider spreads. Learn more here.

e) We will not charge any additional commission unless we notify you in writing.

3. 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 will form part of your margin when you attach the stop.

4. Positions not already closed by the client expire automatically either at the official exchange-published settlement for the contract or at the official market settlement on the last dealing day, whichever is the earlier.

5. The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.

6. Unless expressly agreed otherwise with IG, positions will be rolled over to a later date by default. For most positions, a client can, before the position has been automatically closed, ask for the position not to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer the opportunity to roll the position over. However, we cannot undertake to do this in every case, and it remains the client's responsibility to communicate their roll preferences for any position(s) before expiry.

7. Positions that are set to expire do so with spread on the following basis:

  • Oil – US crude, Heating Oil, Natural Gas and No Lead Gasoline: based on the settlement price of the relevant futures contract on NYMEX on our last dealing day
  • Oil – Brent crude, Gas Oil and Carbon Emissions: based on the settlement price of the relevant futures contract on ICE on the last dealing day

8. 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.

9.Please note that tiered margins apply; this means that higher deposits may be required for large positions. You can find the tiered margins for each market from the Get Info section in our dealing platform.

Where prices are negative, the usual method of calculating margin may not apply. See our Help & Support page for further information on negative prices.

Metals futures contracts

Our metals contracts offer exposure to changes in the price of precious metals. The contracts are cash settled and cannot result in the delivery of any metal; we quote you our own bid/offer spread based on the underlying market.

Our futures contracts expire at specified dates in the future.

Note: We offer mini versions of all metals futures contracts at 20% of the main contract size and margin requirement (33% for Gold).

Contract and trading hours (Local market time)

One contract means

Value of one contract (per full point)

Normal contract spread [1]

Limited risk premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Last dealing day
[7]

Gold
24 hours except 22.00-23.00
100 troy oz $100 0.6 0.3

5.00%

1.00%

0.40%

Fourth bus. day prior to 1st day of contract month (9)
Silver
24 hours except 22.00-23.00
5000 troy oz $50 3 2

10.00%

2.50%

1.60%

Penultimate business day of prior month
High Grade Copper
24 hours except 22.00-23.00
25,000 lbs $2.50 40 30

10.00%

2.50%

1.60% Two business days before the first day of the contract month
Palladium
24 hours except 22.00-23.00
100 troy oz $100 2 2

10.00%

3.00% 2.40% Penultimate business day of prior month
Platinum
24 hours except 22.00-23.00
50 troy oz $50 2 1.5

10.00%

2.50%

1.60% Fourth Friday of prior month


Notes for metals

Our metals contracts are a special form of CFD and give you exposure to changes in the price of metals. They are cash settled and cannot result in the delivery of the underlying metal.

1. a) CFDs on metal futures are quoted with reference to the equivalent expiry contract on the underlying futures market. CFDs on spot metals are quoted based on quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*).

d) Large trades may be subject to wider spreads. Learn more here.

e) We will not charge any additional commission unless we notify you in writing.

2. 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.

3. Minimum transaction sizes usually start from one contract. Please refer to the 'Get Info' section within our trading platform to find the minimum transaction size for each market. Subject to this minimum size, transactions may be in fractions of a contract.

4. We quote spot metals 24 hours a day (except 22.00-23.00, London time), normally from 23.00 (London time) on Sunday until 22.00 (London time) on Friday. Iron ore is quoted during the following times: 09:00 – 11:30, 13:30 – 15:00 and 21:00 – 02:30 China Standard Time (GMT +8). Futures contracts are quoted until 22.00 on Fridays (London time).

5. For spot metal transactions, funding adjustments are calculated and posted to the client's account daily. Funding adjustments are calculated based on the relevant tom-next spread, including IG's charge for holding positions overnight which is no more than 0.0022% per day. An adjustment is calculated for any position opened before 22.00 that is still open after 22.00 (London time).

6. For funded base metal transactions, funding adjustments are calculated and posted to the client's account daily. Funding adjustments are calculated based on the relevant market cost of carry, including an admin fee of 2.5% p.a. (3% for mini contracts). An adjustment is calculated for any position opened before 22.00 that is still open after 22.00 (London time).

7. Positions in Gold, Silver and High Grade Copper futures not already closed by the client expire automatically at the settlement price of a futures contract of the relevant metal on COMEX on our last dealing day.
Positions in Palladium and Platinum futures not already closed by the client expire automatically at the settlement price of a futures contract of the relevant metal on NYMEX on our last dealing day.

8. Unless expressly agreed otherwise with IG, positions will be rolled over to a later date by default. For most positions, a client can, before the position has been automatically closed, ask for the position not to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer the opportunity to roll the position over. However, we cannot undertake to do this in every case, and it remains the client's responsibility to communicate their roll preferences for any position(s) before expiry.

9. Where the Gold (futures) settlement date would fall (as predicted by the rule in the table) on a Friday or on the day before a US holiday, the contract will instead settle on the previous day.

10. 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.

Our soft commodity contracts offer exposure to changes in commodity prices.

All our contracts expire at specified dates in the future and are cash settled; we quote you our own bid/offer spread based on the underlying commodity price.

Note: We offer mini versions of our commodity futures contracts at 20% or 50% of the main contract size and margin. Please see note 8 for more information.

Contract and trading hours (Local market time)

Value of one contract (per full point)

Normal contract spread [2]

Limited Risk premium

Retail min requirement (per contract) [7]

Pro Level 1 requirement (per contract)

Pro Level 2 requirement (per contract)

Contract months and last dealing day

Cattle (Feeder)
Chicago
08.30-13.05
$5
20
30
10.00%
2.50%
2.00% Jan, Mar, Apr, May, Aug, Sep, Oct, Nov

Last bus. day of prior month
Cattle (Live)
Chicago
08.30-13.05
$4
20
30
10.00%
2.50%
1.60% Feb, Apr, Jun, Aug, Oct, Dec

Last bus. day of prior month
Cocoa (London)
London
09.30-16.55
£10
4
4
10.00%
3.00%

2.40%

Mar, May, Jul, Sep, Dec

5th business day of contract month
Cocoa (US)
New York
09.45-18.30
$10
8
5
10.00%
4.50%
3.60% Mar, May, Jul, Sep, Dec

2nd Fri. or prev. bus. day of prev. month
Coffee Arabica
New York
09.15-18.30
$3.75
40
20
10.00%
3.50%
2.80% Mar, May, Jul, Sep, Dec

2nd Fri. or prev. bus. day of prev. bus. month
Coffee Robusta
London
09.00-17.30
$10
4
6
10.00%
3.00%
2.40% Jan, Mar, May, Jul, Sep, Nov

Last bus. day of prev. month
Corn
Chicago
01.00-13.45
14.30-19.20
$50
1
1.5
10.00%
2.50%
2.00% Mar, May, Jul, Sep, Dec

Penultimate business day of prior month
Cotton
New York
20.00-13.20
$5
25
15
10.00%
2.50%
1.60% Mar, May, Oct, Jul, Dec

Third Friday of prior month
Lean Hogs
Chicago
08.30-13.05
$4
15
30
10.00%
3.50%
2.80% Feb, Apr, Jun, Jul, Aug, Oct, Dec

Last bus. day of prior month
LB [10]
Chicago
09.00-15.05
$1.10
100
80
10.00%
3.00%
2.40% Jan, Mar, May, Jul, Sep, Nov

Last business day of prior month
Oats
Chicago
08.30-13.20
$50
1
1.5
10.00%
3.00%
2.40% Mar, May, Jul, Sep, Dec

Penultimate business day of prior month
Orange Juice
New York
08.00-14.00
$1.5
40
40
10.00%
2.50%
2.00% Jan, Mar, May, Jul, Sep, Nov

Last bus. day of prev. month
Rough Rice
Chicago
19.00-07.45
08.30-13.14
$2
40
40
10.00%
2.50%
2.00% Jan, Mar, May, Jul, Sep, Nov

Penultimate business day of prior month

Soyabeans
Chicago
01.00-13.45
14.30-19.15

$50
2
2
10.00%
2.50%
1.20% Jan, Mar, May, Jul, Aug, Sep, Nov

Penultimate business day of prior month
Soyabean Meal
Chicago
01.00-13.45
14.30-19.15
$1
80
50
10.00%
3.00%
2.40% Jan, Mar, May, Jul, Aug, Sep, Oct, Dec

Penultimate business day of prior month
Soyabean Oil
Chicago
01.00-13.45
14.30-19.15
$6
10
8
10.00%
2.50%
1.60% Jan, Mar, May, Jul, Aug, Sep, Oct, Dec

Penultimate business day of prior month
Sugar No. 5
London
08.45-16.55
$50
0.8
0.8
10.00%
3.00%
2.40% Mar, May, Aug, Oct, Dec

First Friday of the prior month
Sugar No.11 World
New York
08.30-18.00
$11.20
5
4
10.00%
2.50%
1.60% Mar, May, Jul, Oct

Penultimate bus. day of prev. month
Wheat (Chicago)
Chicago
01.00-13.45
14.30-19.15
$50
1
1.5
10.00%
2.50%
1.20% Mar, May, Jul, Sep, Dec

Penultimate business day of prior month


Notes for softs

All the instruments described on this site are Contracts For Difference (CFDs). Our contracts give you exposure to changes in the value of commodity prices but they are cash settled and cannot result in the delivery of any commodity or instrument.

1. Our commodities CFDs give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.

2. a) CFDs on commodity futures are quoted with reference to the equivalent expiry contract on the underlying futures market. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*).

d) Large trades may be subject to wider spreads. Learn more here.

e) We will not charge any additional commission unless we notify you in writing.

3. Positions not already closed by the client expire automatically with spread on the following basis:

  • Coffee Arabica, US Cocoa, US Sugar No.11, US Cotton and Orange Juice: based on the settlement price of the relevant futures contract on NYBOT on our last dealing day
  • Chicago Wheat, Corn, Oats, Rough Rice, Soyabeans, Soyabean Oil and Soyabean Meal: based on the settlement price of the relevant futures contract on CBOT on our last dealing day
  • Live Cattle, Feeder Cattle, Lean Hogs and Lumber: based on the settlement price of the relevant futures contract on CME on our last dealing day

4. The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.

5. Unless expressly agreed otherwise with IG, positions will be rolled over to a later date by default. For most positions, a client can, before the position has been automatically closed, ask for the position not to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer the opportunity to roll the position over. However, we cannot undertake to do this in every case, and it remains the client's responsibility to communicate their roll preferences for any position(s) before expiry.

6. Only liquid months will be available at any one time.

7. We offer mini versions of our commodity contracts - with proportionately reduced margin requirements - at the following rates:

  • 20% of main contract size: London Cocoa, London Coffee, London Sugar, London Wheat
  • 50% of main contract size: US Cocoa, US Coffee, US Sugar, Orange Juice, Corn, Oats, US Wheat, Soyabeans, Soyabean Meal, Soyabean Oil, Rough Rice, Feeder Cattle, Live Cattle, Lean Hogs, Cotton, Lumber

8. 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.

9. Please note that tiered margining applies; this means that higher margins may be required for large positions. Margin requirements represent a percentage of the overall position value, and can vary depending on which account type you hold. You can find the applicable tiered margins from the Get Info dropdown section within each market in our trading platform. See our margins page for more details.

10. Contracts on Lumber are available for trading from 15.00 (London time) on the Monday of a normal business week until 22:00 (London time). The market will close early on a Friday at 19.55 (London time).

Time Zone Abbreviations:

  • AEST — Australian Eastern Standard Time
  • CET — Central European Time
  • CST — Central Standard Time
  • EST — Eastern Standard Time
  • GMT — Greenwich Mean Time
  • HKT — Hong Kong Time
  • JST — Japan Standard Time
  • SGT — Singapore Time
  • SAST — South Africa Standard Time

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