These positions 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.
Spot metals have no expiry date; the position remains open until you choose to close it. Separate daily funding adjustments are made for spot metals.
|Contract||MT4 symbol||One contract means||Value of one full point||Normal contract spread ||Min margin requirement (per contract) |
|Gold||XAUUSD||100 troy oz||$100||0.3||0.5%|
|Silver||XAGUSD||5000 troy oz||$5000||2||2%|
Notes to table
Our metals markets 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 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. Minimum transaction usually start from 0.1 contract for CFDs. Subject to this minimum size, transactions for CFDs may be in fractions of a contract.
3. 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.
4. 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 for CFDs. An adjustment is calculated for any position opened before 23.00 that is still open after 23.00 (CET).
5. For most positions, a client can, at any time before the position has been automatically closed, ask for the position 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 him 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 give instructions, if he so wishes, to roll the position over before it expires.
6. 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.
7. Margin requirements represent a percentage of the overall position value.
One contract means
Value of one full point
Normal contract spread 
Min margin requirement (per contract) 
|Oil – Brent Crude||UKOIL||1000 barrels||$10||2.8||1.5%|
|Oil – US Crude||USOIL||1000 barrels||$10||2.8||1.5%|
1. Spreads are subject to variation, especially in volatile market conditions. If the underlying market spread increases significantly, our spread may increase.
2. 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.
3. Commodity funding is based on the market cost of carry including an admin fee of 2.5% per annum.
4. Margin requirements represent a percentage of the overall position value. The amount of margin required depends on the amount of leverage set on the account.