Commodities trading product details

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Spreads from 0.3 points on popular commodity markets

Energies

All contracts have no fixed expiry date.

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 3%
Carbon Emissions $10 3 30 10%
London Gas Oil $100 0.6 0.6 3.5%
Natural Gas $10 3 20 3.5%
No Lead Gasoline $4.20 30 20 3%

 

Metals

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 0.7%
Spot Silver 5000 troy oz $50 2 2 2%
Spot Palladium 100 troy oz $100 1.2 2 3.5%
Spot Platinum 50 troy oz $50 1.8 1.5 2%
High Grade Copper 25,000 lbs $2.50 20 30 1.5%
Iron Ore 100 metric tonnes CNH100 4.5 3 5%

 

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 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 Margin requirement
(per contract)
Aluminium
10.00-03.00
25 metric tonnes
$25
$5
6
8
5%
Copper
10.00-03.00
25 metric tons
$25
$5
10
10
5.5%
Lead
10.00-03.00
25 metric tons
$25
$5
6
8
5%
Nickel
10.00-03.00
6 metric tons
$6
$1
30
40
8%
Zinc
10.00-03.00
25 metric tons
$25
$5
6
8
4%

 

Softs

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 4%
Cocoa (US) $10 4 5 3%
Coffee Robusta $10 3 6 3%
Coffee Arabica $3.75 20 20 3%
Orange Juice $1.5 24 40 4%
Cattle (Feeder) $5 14 30 2.5%
Cattle (Live) $4 12 30 2%
Lean Hogs $4 10 30 2.5%
Cotton $5 15 15 4%
Rapeseed €50 0.7 2 4%
Lumber $1.10 60 80 3.5%
Sugar No.5 $50 0.6 0.8 4%
Sugar No.11 World $11.20 3 4 3%
Wheat (London) £100 0.4 0.3 4%
Milling Wheat €50 0.6 1 6%
Wheat (Chicago) $50 0.6 1.5 2.5%
Corn $50 0.6 1.5 3%
Oats $50 0.6 1.5 5%
Rough Rice $2 20 40 3%
Soyabeans $50 1.2 2 2.5%
Soyabean Meal $1 40 50 3.5%
Soyabean Oil $6 6 8 4%

 

Table notes

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 2.5% 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. Lumber opens at 15.00 (London time) on the Monday of a normal business week until 03:00 (London time). The market will close early on a Friday at 19.55 (London time). Note that there is a break each day between 22.00 and 23.00 (London time).

Spreads from 0.5 points on popular commodity futures markets

Energy

Our energy contracts offer you exposure to changes in oil and gas prices.

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 (Sydney time) Value of one contract
(per index point)
Normal contract spread [2] Limited Risk premium Margin Requirement
(per contract) [11]
Contract months and last trading day [7]
Oil - US Crude
24 hours
(except 23.00 - 00.00)
$10 6 3 1.5% Current and next month
4th bus. 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 bus. day of the prior month
No Lead Gasoline
24 hours (except 07.15-08.00)
$4.20 30 20 3% Current and next month
Penultimate bus. day of the prior month
Natural Gas
24 hours (except 23.00-00.00)
$10 20 20 3.5% Current and next month
4 trading days prior to the first calendar day of contract month
Gas Oil
02.00-00.00
$100 1* 0.6 3.5% Current and next month
3rd bus. 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 3rd Fri. of contract 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 trasactions 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 not already closed by the client expire automatically 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

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.

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 trading hours (Sydney time) One contract means Value of one contract (per full point) Normal contract spread [1] Limited risk premium Margin requirement
(per contract)
Last dealing day
[7]
Gold
24 hours except 23.00-00.00
100 troy oz $100 0.6 0.3 0.7% Fourth bus. day prior to 1st 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 1.5% 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 3.5% Penultimate business day of prior month
Platinum 
24 hours except 23.00-00.00
50 troy oz $50 2 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.

2. For limited-risk trasactions 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 until 23.00 (CET) on Friday.

5. The normal margin percentage for silver is 5% of the transaction value. The normal margin percentage for gold is 3%. We reserve the right to alter the margin percentage at any time.

6. 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. (0.8% for mini contracts). An adjustment is calculated for any position opened before 22.00 that is still open after 22.00 (London time).

7. 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).

8. 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.

9. 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.

10. 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.

11. 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.

Softs

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 (London time) Value of one contract (per full point) Normal contract spread [2] Limited Risk premium [12] Margin Requirement (per contract) Contract months and last dealing day
Cattle (Feeder)
Chicago
15.30-20.05
$5 20 30 2.5% Jan, Mar, Apr, May, Aug, Sep, Oct, Nov

Last bus. day of prior month
Cattle (Live)
Chicago
15.30-20.05
$4 20 30 2% Feb, Apr, Jun, Aug, Oct, Dec

Last bus. day of prior month
Cocoa (London)
London
9.30-16.50
£10 4* 4 4% Mar, May, Jul, Sep, Dec

5th business day of contract month
Cocoa (US)
New York
09.45-18.30
$10 8* 5 3% 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 3% 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 3% 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 3% Mar, May, Jul, Sep, Dec

Penultimate business day of prior month
Cotton
New York
02.00-19.20
$5 25* 15 4% Mar, May, Oct, Jul, Dec

Third Friday of prior month
Lean Hogs 
Chicago 
15.30-20.05
$4 15 30 2.5% Feb, Apr, Jun, Jul, Aug, Oct, Dec

Last bus. day of prior month
Lumber
Chicago
15.00-22.00
23:00-03:00
$1.10 100 80 3.5% Jan, Mar, May, Jul, Sep, Nov

Last business day of prior month
Milling Wheat 
Paris
09.45-17.30
€50 1* 1 6% Jan, Mar, May, Jul, Sep, Nov

Last bus. Day of prev. month
Oats
Chicago
01.00-13.45
14.30-19.20
$50 1 1.5 5% Mar, May, Jul, Sep, Dec

Penultimate business day of prior month
Orange Juice
New York
13.00-19.00
$1.5 40* 40 4% Jan, Mar, May, Jul, Sep, Nov

Last bus. day of prev. month
Rapeseed
Paris
09.45-17.30
€50 1* 2 4% May, Aug, Nov

Penultimate business day of prior month
Rough Rice
Chicago
01.00-13.45
14.30-19.20
$2 40 40 3% Jan, Mar, May, Jul, Sep, Nov

Penultimate business day of prior month
Soyabeans
Chicago
01.00-13.45
14.30-19.20
$50 2 2 2.5% Jan, Mar, May, Jul, Aug, Sep, Nov

Penultimate business day of prior month
Soyabean Meal
Chicago
01.00-13.45
14.30-19.20
$1 80 50 3.5% Jan, Mar, May, Jul, Aug, Sep, Oct, Dec

Penultimate business day of prior month
Soyabean Oil
Chicago
01.00-13.45
14.30-19.20
$6 10 8 4% Jan, Mar, May, Jul, Aug, Sep, Oct, Dec

Penultimate business day of prior month
Sugar No. 5
London
08.45-17.55
$50 0.8* 0.8 4% 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 3% Mar, May, Jul, Oct

Penultimate bus. day of prev. month
Wheat (Chicago)
Chicago
01.00-13.45
14.30-19.20
$50 1 1.5 2.5% Mar, May, Jul, Sep, Dec

Penultimate business day of prior month
Wheat (London)
London
9.30-17.28
£100 0.5* 0.3 4% May, Nov

Third Friday 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) 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.

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

5. Contracts on Live Cattle, Feeder Cattle and Lean Hogs open at 09.05 (Chicago time) on the Monday of a normal business week, and close on Fridays at 13.55 (Chicago time).

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

8. 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

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.

10. 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.

11. Contracts on Lumber are available for trading from 15.00 (London time) on the Monday of a normal business week until 03:00 (London time). The market will close early on a Friday at 19.55 (London time). Note that there is a break each day between 16.00 and 17.00 (London time).

12. For limited-risk trasactions 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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