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No.1 CFD provider1

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Prices above are subject to our website terms and conditions. Prices are indicative only.

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Why trade forex with IG Bank?

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    We're the world's No.1 retail forex provider1

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    Spreads from 0.6 pips on EUR/USD and AUD/USD

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FX spreads

Spot FX

IG spreads Forex Direct (DMA)
Min. spread Av. spread2 Av. spread3
EUR/USD 0.6 0.75 0.142
AUD/USD 0.6 0.75 0.329
USD/JPY 0.7 0.86


EUR/GBP 0.9 1.17 0.398
GBP/USD 0.9 1.34 0.639
EUR/JPY 1.5 1.96 0.480
USD/CHF 1.5 2.04 0.489


See our full list of currency pairs and live prices.

View example

Buying EUR/USD: detailed

Market Spot EUR/USD
Price 1.1405 / 1.14056

Buy 1 contract at 1.14056 (1 contract = €100,000 and $10 per point)

Margin required

One contract is €100,000 and the margin rate is 0.5%

Margin = Number of Contracts x Contract Size x Price x Margin Rate

Margin = 1 x €100,000 x 1.14056 x 0.5% = USD 570.28

What happens next? USD climbs throughout the day and you decide to hold the position overnight

Funding = size per point x Tom Next rate

Example TomNext rates for 27/01/14 USD/CHF for Long Positions:  -0.42 

Funding = 10 USD x -0.42 = - USD 4.2


1.1505 / 1.15056


You sell at 1.15056

Gross profit

USD 994

1.1505 – 1.14056 = 0.00994 = 99.4 Pips 

Value per Pip = USD 10
99.4 Pips x 10 USD = USD 994

Gross Profit  = USD 994


Funding cost if long – - USD 4.2

[Funding if Short – USD 0.19]

Net profit (Long Position)

If Long USD 994.00  - USD 4.2 = USD 989.8  

What if...

USD fell 20 Pips

1.13856 – 1.14056 = -0.0020 
Value per Pip = USD 10
20 Pips x USD 10 = USD 200
Gross Loss  = - USD 200 

Using the spot rate of 1.13856

Net loss =  - USD 200.00  - USD 4.2 =  - USD 204.2


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New to forex?

Forex (or sometimes just FX) is short for foreign exchange, and is the largest financial market in the world. Simply put, it’s how individuals and businesses convert one currency to another.

FX transactions worth trillions of dollars take place every day, and unlike stocks or commodities there’s no central exchange. Instead, currencies are traded by a global network of banks, dealers and brokers, which means you can trade any time, day or night, Monday to Friday. 

FX prices are influenced by a range of different factors, including interest rates, inflation, government policy, employment figures and demand for imports and exports.

And because of the sheer volume of currency traders and the amount of money exchanged, price movements can happen very quickly, making currency trading not only the largest financial market in the world, but also one of the most volatile.

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1 The world's largest retail CFD provider based on revenue excluding FX (published financial statements, October 2016).

2 Average spread (Monday 00:00 - Friday 22:00 GMT) for the twelve weeks ending 7 October 2016. For our minimum spreads, please see our forex CFD and MT4 details.

3 Time-weighted (22:00-20:00 GMT) average spread by trade (quoted to three decimal places), August 2016.

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