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Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

Our charges

We are clear about our charges, so you always know what
fees you will incur when you trade with us

Spreads, commissions and margins

You pay a spread on every non-share CFD and you pay commission on every share CFD trade.

Shares

Region

Commission 
per side

Min charge
(online)

Min charge

(phone)

Switzerland Blue Chip 0.10% 10 CHF CHF25
US 2 cents per share US$15 $25
Euro1 0.10% €10 €25
UK 0.10% £10 £15

 

1 Euro includes: Belgium, Eire, Finland, France, Germany, Italy, Netherlands, Portugal, Spain

With share CFDs you trade at the real market price, so we don't attach our own spread. Instead, we take a small commission when you open the position, and again when you close it. In each instance, a minimum charge applies.

See full shares product details

Forex

Market name

Value
per point

Min spread

Margin required

Spot EUR/CHF

CHF10 2 1.5%
Spot USD/JPY Y1000 0.7 0.5%
Spot EUR/USD US$10 0.6 0.5%
Spot GBP/USD US$10 0.9 1%

 

The spread is the difference between our Sell and Buy prices. We derive these prices based on the underlying market’s value.

See full forex product details

Learn more about our pricing and execution

 

Indices

Market name

Value of one contract

Best available spread

Margin per contract

Switzerland Blue Chip
24 hours
CHF10

2
 

0.75%

Wall Street
24 hours

US$10 1.6 0.5%
FTSE 100
24 hours
£10 1 0.5%
Germany 30
24 hours
 25 1 0.5%

 

The spread is the difference between our Sell and Buy prices. We derive these prices based on the underlying market’s value.

See full indices product details

Learn more about our pricing and execution

 

Commodities

Market name

Value of one contract

Spread

Margin per contract

Spot Gold US$100 0.3 0.7%

Spot Silver

US$50 2 2%
Oil - US Crude US$10 2.8 1.5%
Oil - Brent Crude US$10 2.8 1.5%


 

The spread is the difference between our Sell and Buy prices. We derive these prices based on the underlying market’s value.

See full commodities product details

Learn more about our pricing and execution

 

View shares example

Buying UBS: detailed

  CFD
Underlying market/value UBS AG 16.83/16.86
Our price UBS
16.8300/16.8600
Trade

Buy at 16.8600

Trade size 1000 shares
Margin required

CHF 1686 
Number of shares x price x margin rate (10%)

What happens next? By 4.35 (London time) the market has risen to CHF18.81: this is the price our funding is calculated at. 
Funding

Overnight funding charge: CHF 1.56
(One-month Libor + 2.5%) x number of shares x price)/360
(2.99% x 1000 x 18.8100)/360

Underlying market

UBS rises steadily the next day and we quote 18.8800/18.8900

Close

Sell at 18.8800

Gross profit

CHF 2020
18.8800 - 16.8600 = CHF 2.02
CHF 2.02 x 1000 shares = CHF 2020

Costs

Commission CHF35.74
Value of position x 0.10% (Minimum CHF10)
(1000 x 16.86) x 0.10% = CHF16.86
(1000 x 18.88) x 0.10% = CHF 18.88
Funding: CHF 1.56 

Net profit

CHF 1982.70 subject to tax

What if...

the market fell and you sold at 15.44 instead

15.44-16.86 = -CHF 1.42

(-CHF 1.42 x 1000 shares + CHF1.56 + CHF 32.30)
Net loss = CHF 1453.86

 

View forex example

Buying USD/CHF: detailed

  CFD
Market Spot USD/CHF
Price 0.8967/0.8969
Trade

Buy 1 contract at 1.55805 (1 contract = £100,000 or $10 per point)

Margin required

One contract is $100,000 and the margin rate is 0.25%

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

Margin= 1 x $100,000 x 0.8969 x 0.25% = CHF 224.25

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

Funding = size per point x Tom Next rate

Example TomNext rates for 27/01/14 USD/CHF for Long Positions:  -0.06   

Funding = 10CHF x -0.06 = - CHF 0.6

Price

0.8989/0.8991

Close

You sell at 08989

Gross profit

CHF 200

0.8989 - 0.8969= 0.0020 = 20 Pips 

Value per Pip = CHF 10
20 Pips x 10 CHF = CHF 200
Gross Profit  = CHF 200

Costs

Funding cost if long - CHF 0.6 
[Funding if Short - CHF 1.8]

Net profit (Long Position)

If Long CHF 200.00  - CHF 0.6 = CHF 199.4  

What if...

CHF fell 20 Pips

0.8949 - 0.8969= -0.0020 
Value per Pip = CHF 10
20 Pips x CHF 10 = CHF 200
Gross Loss  =     - CHF 200 

Using the spot rate of 0.8990
Net loss =  - CHF 200.00  - CHF 0.6 =  - CHF 200.6 CHF

 

View indices example

Selling the Swiss Blue Chip: detailed

  Cash CFD
Underlying market/value SMI Futures
Our price

Swiss Blue Chip
9229/9233

Trade

Sell at 9229

Trade size

1 contract
10 CHF

Margin required

0.75% x Index value x Value per point x Number of contracts

0.75% x 9229 x 10 x 1 = 692.18 CHF margin

What happens next? The market collapses, reaching 9183 at 11pm when funding is calculated.
Funding

Funding = CHF 4.43
(One-month LIBOR e.g. -0.825% - 2.5% x 10 CHF x 9229) / 360

Close

Our price is now 9179/9183. You decide to buy at 9183

Overall market movement & profit/loss

Gross profit subject to tax = 460 CHF
9229 – 9183 = 46
One contract is worth 10 CHF per point

Costs

2-point IG spread (included)
Funding cost: CHF 4.43

Net profit

451.48 CHF

What if...

If the market rose 46 points instead:
46 x 10 CHF
460 CHF gross loss

 

View commodities example

Buying Spot Gold: detailed

  CFD
Market and price Spot Gold 1447.96/1448.46
Trade

Buy at 1448.46

Trade size Buy 1 lot (1 lot = $100 per point)
Margin required

Margin required is 20% of total exposure = $28,969.20

What happens next? Gold rallies $10 over the day. At 10pm, the cut-off time for funding, the market is at 1458.46
Funding

0.048 x $100 = $4.80*

(tom-next rate + 0.3% pa admin fee) x deal size

Close

The market continues to rally and you sell your position to close at 1463.46

Gross profit

$1500

1463.46 – 1448.46 = 15

Value per point = $100

15 x $100 = $1500
Costs

0.5 point IG spread (included)

Funding cost = $4.80
Net profit

$1495.20

What if...

If the market dropped 15 points instead ($15):

$1500 + $4.80

Net loss = $1504.80

 

Funding and interest

Overnight funding

If you keep a position open overnight we make an interest adjustment to your account, including our fee of 2.5%.* We debit your account if your position is long, and credit your account for a short position – if the interbank rate is greater than 2.5%.*

When trading forex, the funding cost is calculated differently. See the table below.

Long positions

Short positions

Forex positions

We charge 2.5% above the relevant interbank rate.*
 
Eg. If the relevant interbank 1-month rate is 0.5%, you would be charged 3.00% (annualised).
You receive the relevant interbank rate, minus 2.5%.*

If the interbank rate is greater than 2.5%,* we credit your account; if the interbank rate is less than 2.5%,* your account is debited.

Eg. If the relevant interbank 1-month rate is 0.5%, you would be charged 2.00% (annualised).

For forex positions, we charge funding based on the current tom-next rate.

Tom-next shows, in points, the difference between the interest paid to borrow the currency that is being notionally sold, and the interest received from holding the currency.

* 3% on mini and micro CFD contracts.

Futures and forwards

We offer futures for fixed-expiry trades on stock indices and commodities. We build the overnight funding charges into the spread, so that everything is included. This makes it easier to identify your break-even level on your trade.

Non-share markets

Stock index

Futures spread

Commodity

Futures spread

Switzerland Blue Chip 4 Spot Gold 0.6
Wall Street 6 Spot Silver 3
Germany 30 6 Oil - US Crude 6
More indices More commodities

Cash vs Future example

Cash CFD vs CFD Future: Swiss Blue Chip

  CFD Future Cash CFD
Underlying market/value

SMI 8094, March 14 Future 8018

Our market/spread

Swiss Blue Chip Mar 14

8015/8021

Swiss Blue Chip
8093/8095

Trade

Sell at 8015

Sell at 8093

Deal size

1 contract

CHF10 per contract

1 contract

CHF 10 per contract

Margin required

CHF 280

Margin per contract x number of contracts

CHF 280 x 1

CHF 280
Margin per contract x number of contracts
CHF 280 x 1

What happens next? The market falls during the next 30 days and the Swiss Blue Chip March future reaches 7918
Funding Included in the spread on the opening of the future

30-day funding charge: CHF 133.53

Assuming a 30-day average price of 7972

([one month LIBOR eg 0.49% minus 2.5% x value of underlying value at 10pm]/ 360) x number of days

(-2.01% x [7972 x £10] /360) x 30

Close

Buy at 7921

Buy at 7919

Gross profit

Gross profit = CHF 940
8015 – 7921 = 94
CHF 10 per point

Gross profit = CHF 1730
8092 – 7919 = 173
CHF 10 per point

Costs

6-point IG spread (included)
Funding included in spread

2-point IG spread (included)
Funding cost: CHF 133.53

Net profit

Net profit = CHF 940

Net profit = CHF 1596.47

What if...

The market rose 94 points instead
-(94 x CHF 10)
CHF 940 net loss

The market rose 173 points instead
-(173 x CHF 10)
CHF 1863.53 net loss

 

How is funding calculated?

Shares funding

Size for CFDs means number of shares.

Closing price means underlying market price when underlying market closes at 11pm CET.

If your trade is in CHF

Size × closing price × LIBOR +/- 2.5% ÷ 360

Based on LIBOR one month overnight rate

If your trade is in USD

Size × closing price × US LIBOR +/–2.5% ÷ 360   

If your trade is in EUR

Size × closing price × EURIBOR +/–2.5% ÷ 360   

The formula uses a 360-day divisor for Swiss shares and other markets, and a 365-day divisor for British, Southafrican, Singapore shares.

 

Forex funding

A tom-next rather than an interbank rate is used in the calculation of funding costs for forex and spot metals.

Tom-next is the day’s market swap rate for that pair or metal.

Example tom-next rate: -1.39/-0.39.

-0.39 would be used to calculate the funding cost on a long position.

-1.39 would be used to calculate the funding cost on a short position.

Size x (tom-next rate + admin fee) 

CFD

Size means total value of lots (number of lots x value per lot)

Tom-next is the day’s market swap rate for that pair or metal

Admin fee is no more than 0.3% per annum (0.8% for mini contracts)

Three-day funding is charged on Wednesday 11pm CET. For more information please visit our FX contract details.

Other markets

Size for CFDs means total contract value (number of contracts x value per contract).

Closing price means underlying market price when underlying market closes at 11pm CET.

If your trade is in CHF

Size × closing price × LIBOR +/- 2.5% ÷ 360 Based on LIBOR one month overnight rate

If your trade is in USD

Size × closing price × US LIBOR +/–2.5% ÷ 360

If your trade is in EUR

Size × closing price × EURIBOR +/–2.5% ÷ 360

Please note: when trading a non-standard and in a foreign currency denominated CFD, or a mini contract on any asset class, the funding rate is +/-3% rather than +/-2.5%

Understanding margins

Our margins are among the lowest in the CFD industry. Through a system of tiered margining we can offer lower rates for the majority of positions.

What is margin?

Margin trading gives you full exposure to a market using only a fraction of the capital you’d normally need.

Margin is the amount of money you need to open a position, defined by the margin rate. 

CFD are leveraged product, you don’t need to pay the full value of your exposure in order to trade. Instead, you’ll only need to put up a fraction of your total exposure to open your position.

There are two types of margin to consider:

Initial margin

The initial margin is the minimum amount you’ll need to put up to open a position. It is sometimes called the deposit margin, or just the deposit.

Maintenance margin

The maintenance margin, also known as variation margin, is extra money that we might need to request from you if your position moves against you. Its purpose is to ensure you have enough money in your account to fund the present value of the position at all times – covering any running losses.

Margin at IG

At IG we offer competitive margins across our full range of markets.

We operate a tiered margining policay on all our markets, excluding digital 100s.

Smaller trade sizes generally benefit from better market liquidity and these positions attract our lowest margin rates.

Things to remember

  • Ensure you have enough funds in your account to cover both margin and losses.
  • Your CFD account is margined independently, funds in one account will not cover the margin requirement or losses in another.
  • Limit potential losses and reduce your margin requirement by using stops (tier one only).

How are margins calculated?

Shares margins

Share margins

Margin requirements for CFD positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

CFD

No stop

Number of shares x share price x margin percentage

E.g. 100 UBS shares at a price of CHF 16.84:

100 x 16.84 x 10% = CHF168.4 margin

Stop

(Margin for equivalent trade with no stop x slippage factor) + value per point* x stop distance
E.g. 100 UBS shares at price of £16.84, with a non-guaranteed stop 3 points away:
(CHF 168.4 x 10% + (CHF 10 x 1) = CHF 26.84 margin
* Note: 100 UK shares = £1 per point, 100 US shares = $1 per point, 100 Euro shares = €1 per point etc

 

Guaranteed stop

Value per point x stop distance:
E.g. 1000 UBS shares at a price of 16.84, with a guaranteed stop 10 points away:
CHF10 x 10 = CHF 100 margin

Forex margins

FX margins

Margin requirements for CFD positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

CFD

No stop

Number of contracts x contract size x price x margin percentage

E.g. 2 contracts AUD/USD:

2 x A$100,000 x 0.7690 x 0.5% = $769 margin requirement
 

Stop

(Margin for equivalent trade with no stop x slippage factor)  + (Number of contracts x value per pip x stop distance)

E.g. 2 contracts AUD/USD with a non-guaranteed stop 15 points away:

($769 x 50%) + (2 x $10 x 15) = $684.50 margin requirement

 

Guaranteed stop

Number of contracts x value per pip x stop distance

E.g. 2 contracts AUD/USD with a guaranteed stop 15 points away:

2 x $10 x 15 = $300 margin

 

Index margins

Index margins

Margin requirements for CFD positions with non-guaranteed stops are capped at the amount of margin for no stop (ie if the stop is wide then the calculations used may give a higher margin requirement than the calculation for no stop. If this happens then we limit the margin to the amount required for the same position with no stop).

 

CFD

No stop

Number of contracts x margin per contract
E.g. one contract of Swiss Blue Chip:
0,75% x 9229 x 10 x 1 = 692,18 CHF margin

Stop

(Number of contracts x slippage amount per contract) + (number of contracts x contract size x stop distance)
E.g. 1 contract Swiss Blue Chip with a non-guaranteed stop 10 points away:
(1 x 56 CHF) + (1 x 10 CHF x 10) = 156 CHF

 

Guaranteed stop

Number of contracts x contract size x stop distance:
E.g. 1 contract Swiss Blue Chip with a guaranteed stop 10 points away:
1 x 10 CHF x 10 = 100 CHF margin

 

Charges and funding FAQs

What are your trading hours?

Our helpdesk team is available 24 hours a day Monday to Friday, and from 9am-5pm (UK time) on the weekend:

Email: support.ch@ig.com

Trading desk

Phone: 022 888 10 02

How does overnight funding work?

When you trade with us, you trade on margin. This means you provide only a deposit to open a position, and we in effect lend you the rest of the money required. If you keep it open overnight, we charge a small fee to cover the cost of the money you’ve effectively borrowed.

For share and stock index trades, this funding fee is based on the relevant interbank rate for your traded currency, plus or minus our small admin fee, depending on whether your position is long or short.

For forex and spot metals trades, it is the tom-next rate plus a small admin fee.

For commodities and other futures markets there is no overnight funding fee because the cost of funding is built into the spread. 

Are charges fixed or do they vary? 

Spreads

Our forex spreads vary depending on underlying market liquidity. The more liquid the market, the narrower our spread – as low as 0.8 pips.

Our stock index spreads vary by the time of day. During the underlying market hours we offer our standard and tightest spreads. When we offer an out-of-hours market, so that you can benefit from 24-hour trading, we offer a wider spread.

Commission

Our share CFD commissions vary depending on the host country for your stock. All Swiss shares are subject to a 0.10% commission with a minimum of 10 CHF, while all US stocks are subject to a commission of 2 cents per share with a minimum of USD 15. Please see our product details page for all our share CFD commissions.

Overnight funding

The overnight funding fee is calculated using the relevant interbank rate for stock index and share trades. The fee for forex trades is calculated using the tom-next rate. These rates change daily, varying the funding fee each day. Do note that mini and micro CFD contracts are subject to a higher admin fee.

Do you offer guaranteed stops?

When you have a guaranteed stop attached to your position, we apply a small fee if it's triggered. For shares, for example, this is 0.3% of the underlying transaction value.

What are interbank and tom-next rates?

The interbank rate is the interest rate charged between banks for short-term loans. It is a key indicator for other interest rate charges, which is why we use it as a basis for calculating our overnight funding fees for your share and stock index trades.

Tom-next is the rate used to calculate the funding adjustment when a forex position is held overnight. It is an industry-standard rate, derived from the interest rate differentials of the pair’s currencies and market expectations of interest rate change. 

Is there a currency conversion charge?

CFDs traded in a currency other than your account’s base currency will incur a currency conversion charge. Our default setting is instant conversion and we also offer daily conversions. When there is a credit or debit to your account, for example, when you close a position and realise a profit/loss, the amount is converted to your base currency at the prevailing rate including our charge of 0.3%.

 

Extra services and charges

For shares CFD trading there are some extra services that we charge for.

Service

Charge

Direct Market Access (DMA) There’s no charge for using DMA to trade CFDs on forex and shares, though in order to access live DMA prices for some shares you’ll need to pay a monthly exchange fee. 
Live price data feeds Obtaining live share prices from an exchange to trade share CFDs will incur a monthly fee.
ProRealTime Charts Subscribing to real-time charts costs 45 CHF per month. This is refunded if you place four or more trades a month. We reserve the right to charge you for the service if your qualifying trades are of an extremely low value.
Inactivity fee We charge a 18 CHF fee on the first of every month, if no trading activity has occurred for two years or more. 
Account documentation fee We charge a $50 fee on accounts which have not supplied a mandatory W-8 or W-9 form prior to the dividend ex-date of a qualifying trade on a US-incorporated stock. We do not apply this fee to accounts with up-to-date documentation or accounts which have not entered into qualifying trades. We will notify you if you have entered into a qualifying trade and need to complete a form.

 

Open an account now

It's free to open an account and there's no obligation to fund or trade.

Tiered margining

What is tiered margining?

Tiered margining enables us to set margin rates that reflect and best fit the size of your aggregate position* in a particular market. The majority of positions will attract our lowest margin rates, reflecting the liquidity of the market at smaller deal sizes. The largest positions may require greater margin, as it is more difficult to trade out of these positions quickly.

We will determine your initial margin using a table of four incremental tiers. The margin rate will increase progressively as your aggregate position moves up from one tier to the next. However, only the portion of your position that falls into a higher tier will be subject to its increased margin rate.

The range of the four tiers differs for every market.

See our tiered margining list for share CFDs. For our tiered margining levels on other markets, please use Get Info inside our trading platform. 

* For the purposes of tiered margining, your aggregate position includes your non-limited-risk open positions and orders to open.

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Our helpdesk is open 24 hours a day from 9am Sunday to 11pm Friday, and 10am to 6pm Saturday.