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- Energies
- Metals
- Base metals contracts
- Softs
- Table notes
The following contracts have no fixed expiry dates.
Energies information table
| Contract | Value of one contract (per full point) |
Contract spread [1] | Limited risk premium |
Margin requirement (per contract) [4] |
|---|---|---|---|---|
| Oil - Brent Crude | $10 | 2.8 | 3 | 1.5% |
| Oil - US Crude | $10 | 2.8 | 3 | 1.5% |
| Heating Oil | $4.20 | 20 | 20 | 1.5% |
| Carbon Emissions | $10 | 3 | 30 | 10% |
| London Gas Oil | $100 | 0.6 | 0.6 | 2.5% |
| No Lead Gasoline | $4.20 | 20 | 20 | 1.5% |
Metals information table
| Contract | One contract means | Value of one contract (per full point) |
Contract spread[1] | Limited risk premium |
Margin requirement (per contract)[4] |
|---|---|---|---|---|---|
| Spot Gold | 100 troy oz | $100 | 0.3 | 0.3 | 0.5% |
| Spot Silver | 5000 troy oz | $50 | 2. | 2 | 2% |
| Spot Platinum1 | 50 troy oz | $50 | 1.8 | 1.5 | 2% |
| High Grade Copper | 25,000 lbs | $2.50 | 20 | 30 | 2% |
| Iron Ore | 100 metric tonnes | CNH100 | 4.5 | 3 | 5% |
1 New positions are not permitted on these markets
Base Metals contracts
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 dealing hours (CET) | One contract means | Value of one contract (per full point) |
Value of one mini contract (per full point) |
Contract spread [1] | Limited risk premium | Margin per lot [4] |
|---|---|---|---|---|---|---|
| Aluminium 02.00-19.00 |
25 metric tonnes | $25 | $5 | 6 | 8 | 4.5% |
| Copper 02.00-19.00 |
25 metric tonnes | $50 | $5 | 10 | 10 | 4% |
| Lead 02.00-19.00 |
25 metric tonnes | $2.50 | $5 | 6 | 8 | 5% |
| Nickel1 02.00-19.00 |
6 metric tonnes | $100 | $1 | 30 | 40 | 5.5% |
| Zinc 02.00-19.00 |
25 metric tonnes | $25 | $5 | 6 | 8 | 4.5% |
1 New positions are not permitted on these markets
All contracts have no fixed expiry date.
Softs information table
| Contract | Value of one contract (per full point) |
Contract spread [1] | Limited risk premium | Margin requirement (per contract) [4] |
|
|---|---|---|---|---|---|
| Cocoa (London) | £10 | 3 | 4 | 3% | |
| Cocoa (US) | $10 | 4 | 5 | 4,5% | |
| Coffee Robusta | $10 | 3 | 6 | 3% | |
| Coffee Arabica | $3.75 | 20 | 20 | 3,5% | |
| Orange Juice | $1.5 | 24 | 40 | 2,5% | |
| Cattle (Live) | $4 | 12 | 30 | 2% | |
| Lean Hogs | $4 | 10 | 30 | 3.5% | |
| Cotton | $5 | 15 | 15 | 2% | |
| LB | $1.10 | 60 | 80 | 3% | |
| Sugar No.5 | $50 | 0.6 | 0.8 | 3% | |
| Sugar No.11 World | $11.20 | 3 | 4 | 2% | |
| Wheat (London) | £100 | 0.4 | 0.3 | 2% | |
| Wheat (Chicago) | $50 | 0.6 | 1.5 | 1.5% | |
| Corn | $50 | 0.6 | 1.5 | 2.5% | |
| Oats | $50 | 0.6 | 1.5 | 3% | |
| Rough Rice | $2 | 20 | 40 | 2.5% | |
| Soyabeans | $50 | 1.2 | 2 | 1.5% | |
| Soyabean Meal | $1 | 40 | 50 | 3% | |
| Soyabean Oil | $6 | 6 | 8 | 2% | |
| Crude Palm Oil | MYR25 | 12 | 10 | 10% |
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.
2. Commodity funding is based on the market cost of carry including an admin fee of 3% per annum.
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. Live Cattle, Feeder Cattle and Lean Hogs open at 16.05 (CET) on the Monday of a normal business week, and close on Fridays at 20.55 (CET).
6. The market will close early on a Friday at 20.55 (CET). Note that there is a break each day between 23.00 and 00.00 (CET).
7. 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).
8. For limited-risk trades 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.
Spreads from 0.5 points on popular commodity futures markets
- Energies
- Metals
- Softs
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 dealing hours (CET) | Value of one contract (per full point) |
Minimum dealing spread | Limited risk premium | Margin requirement (per contract) [9] |
Contract months and last dealing day [5] |
|---|---|---|---|---|---|
| Oil - US Crude 24 hours (except 23.00-00.00) |
$10 | 6 | 3 | 1.5% | Current and next month fourth business day before the 25th of the prior month |
| Oil - Brent Crude 02.00-00.00 |
$10 | 6* | 3 | 1.5% | 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 24 hours (except 23.00-00.00) |
$4.20 | 30 | 20 | 3% | Current and next month Penultimate business day of the prior month |
| No Lead Gasoline 24 hours (except 23.00-00.00) |
$4.20 | 30 | 20 | 3% | Current and next month Penultimate business day of the prior month |
| Natural Gas 24 hours (except 23.00-00.00) |
$10 | 10 | 20 | 3.5% | Current and next month four trading days prior to the first calendar day of contract month |
| Gas Oil 02.00-00.00 |
$100 | 1* | 0.6 | 2.5% | Current and next month third business day prior to 14th day of contract month |
| Carbon Emissions
08.00-18.00 |
€10 | 6* | n/a | 10% | Mar, Jun, Sep, Dec Trading day preceding third Friday of contract month |
| UK Natural Gas 08:01-17:59 |
£1 | 8* | £10.00 | 25% | Current and next month Penultimate business day of the prior month |
| European TTF Natural Gas 08:01-17:59 |
€1 | 100 | n/a | 25% | Current and next month Third last business 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) We will not charge any additional commission unless we notify you in writing.
3. For limited-risk trades 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.
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:
• Light Crude Oil, 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
• 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 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 the trading platform. See our tiered margining page for more details.
Metals futures contracts
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 dealing hours (CET) | One contract means | Value of one contract (per full point) |
Minimum dealing spread | Limited risk premium | Margin requirement (per contract) |
Last dealing day [6] |
|---|---|---|---|---|---|---|
| Gold 24 hours except 23.00-00.00 |
100 troy oz | $100 | 0.6 | 0.3 | 0.5% | Fourth business day prior to first day of contract month (9) |
| Silver 24 hours except 23.00-00.00 |
5000 troy oz | $50 | 3 | 2 | 2% | Penultimate business day of prior month |
| High Grade Copper 24 hours except 23.00-00.00 |
25,000 lbs | $2.50 | 40 | 30 | 2% | Two business days before the first day of the contract month |
| Palladium 24 hours except 23.00-00.00 |
100 troy oz | $100 | 2 | 2 | 3% | Penultimate business day of prior month |
| Platinum 24 hours except 23.00-00.00 |
50 troy oz | $50 | 1.5 | 1.5 | 2% | 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) We will not charge any additional commission unless we notify you in writing.
For limited-risk trades 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 23.00-00.00), normally from 00.00 (CET) on Sunday night until 23.00 (CET) on Friday. Futures contracts are quoted until 23.00 on Fridays.
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 an admin fee of 0.3% p.a. An adjustment is calculated for any position opened before 23.00 that is still open after 23.00 (London time). For base metals transactions, funding adjustments are calculated based on the relevant cost of carry charge, including an admin fee of 2,5% p.a.
6. 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.
The futures contract against which a futures metal is settled is designated in the name of the futures metal contract (e.g. DEC15).
7. 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.
8. 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.
9. 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 futures 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 dealing hours (CET) | Value of one contract (per full point) | Contract spread [2] | Limited risk premium[11] | Margin requirement (per contract) | Contract months and last dealing day |
|---|---|---|---|---|---|
| Cattle (Live) Chicago 15.30-20.05 |
$4 | 20 | 30 | 2% | Feb, Apr, Jun, Aug, Oct, Dec Last business day of prior month |
| Cocoa (London) London 10.30-17.50 |
£10 | 4* | 4 | 3% | Mar, May, Jul, Sep, Dec 5th business day of contract month |
| Cocoa (US) New York 10.45-19.30 |
$10 | 8* | 5 | 4.5% | Mar, May, Jul, Sep, Dec 2nd Friday or previous business day of previous month |
| Coffee Arabica New York 10.15-19.30 |
$3.75 | 40* | 20 | 3.5% | Mar, May, Jul, Sep, Dec Second Friday or previous business day of previous business month |
| Coffee Robusta London 10.00-18.30 |
$10 | 4* | 6 | 3% | Jan, Mar, May, Jul, Sep, Nov Four business days prior to the first calendar day of the delivery month |
| Corn Chicago 02.00-14.45 15.30-20.20 |
$50 | 1 | 1.5 | 2.5% | Mar, May, Jul, Sep, Dec Penultimate business day of prior month |
| Cotton New York 03.00-20.20 |
$5 | 25* | 15 | 2% | Mar, May, Oct, Jul, Dec Third Friday of prior month |
| Lean Hogs
Chicago 15.30-20.05 |
$4 | 15 | 30 | 3.5% | Feb, Apr, Jun, Jul, Aug, Oct, Dec Last business day of prior month |
| LB Chicago 16.00-23.00 |
$1.10 | 100 | 80 | 3% | Jan, Mar, May, Jul, Sep, Nov Last business day of prior month |
| Oats Chicago 02.00-14.45 15.30-20.20 |
$50 | 1 | 1.5 | 3% | Mar, May, Jul, Sep, Dec Penultimate business day of prior month |
| Orange Juice New York 14.00-20.00 |
$1.5 | 200* | 40 | 2.5% | Jan, Mar, May, Jul, Sep, Nov Four business days prior to the first calendar day of the delivery month |
| Rough Rice Chicago 02.00-04:00 15.30-20.20 |
$2 | 40 | 40 | 2,5% | Jan, Mar, May, Jul, Sep, Nov Penultimate business day of prior month |
| Soyabeans Chicago 02.00-14.45 15.30-20.20 |
$50 | 2 | 2 | 1.5% | Jan, Mar, May, Jul, Aug, Sep, Nov Penultimate business day of prior month |
| Soyabean Meal Chicago 02.00-14.45 15.30-20.20 |
$1 | 80 | 50 | 3% | Jan, Mar, May, Jul, Aug, Sep, Oct, Dec Penultimate business day of prior month |
| Soyabean Oil Chicago 02.00-14.45 15.30-20.20 |
$6 | 10 | 8 | 2% | Jan, Mar, May, Jul, Aug, Sep, Oct, Dec Penultimate business day of prior month |
| Sugar No. 5 London 09.45-18.55 |
$50 | 0.8* | 0.8 | 3% | Mar, May, Aug, Oct, Dec First Friday of the prior contract month |
| Sugar No.11 World New York 09.30-19.00 |
$11.20 | 5* | 4 | 2% | Mar, May, Jul, Oct Penultimate business day of previous month |
| Wheat (Chicago) Chicago 02.00-14.45 15.30-20.20 |
$50 | 1 | 1.5 | 1.5% | Mar, May, Jul, Sep, Dec Penultimate business day of prior month |
| Wheat (London) London 10.30-18.28 |
£100 | 0.5* | 0.3 | 2% | May, Nov Third Friday of prior month |
Notes
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) 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
- Milling Wheat and Rapeseed: based on the settlement price of the relevant futures contract on Euronext on our last dealing day.
- Coffee Robusta, London Cocoa, London Sugar No. 5, London Wheat: based on the settlement price of the relevant futures contract on LIFFE 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, Milling Wheat, Rapeseed
- 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. If two values are listed, the first value applies to Trader accounts and the second to Select accounts. 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 16.00 (CET) on the Monday of a normal business week until 04:00 (CET). The market will close early on a Friday at 20.55 (CET). Note that there is a break each day between 17.00 and 18.00 (CET).
11. For limited-risk trades 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.
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