We are clear about our charges, so you always know what
fees you will incur when you trade with us.
We are clear about our charges, so you always know what
fees you will incur when you trade with us.
You pay a spread on every non-share CFD and you pay commission on every share CFD trade. Find these charges for individual markets below, or see examples of how spreads, commission and margins can affect your positions.
Region |
Commission |
Min charge |
Margin required |
---|---|---|---|
Australia | 0.08% | $7 | From 10% |
US | 2 cents per share | US$15 | From 10% |
Euro1 | 0.10% | €10 | From 10% |
UK | 0.10% | £10 | From 10% |
HK | 0.18% | HKD50 | from 10% |
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.
Market name |
Value |
Min spread |
Average spread* |
Margin required |
---|---|---|---|---|
Spot AUD/USD |
US$10 | 0.6 | 1.33 | 0.5% |
Spot USD/JPY | Y1000 | 0.7 | 1.26 | 0.5% |
Spot EUR/USD | US$10 | 0.6 | 1.13 | 0.5% |
Spot GBP/USD | US$10 | 0.9 | 2.38 | 0.5% |
*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending 29th May 2020. For our minimum spreads, please see our forex product details.
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 costs and product details
Learn more about our pricing and execution
Market name |
Value of one contract |
Best available spread |
Margin per contract |
---|---|---|---|
Australia 200 24 hours |
AUD25 | 1 |
0.5% |
Wall Street |
US$10 | 1.8 | 0.5% |
FT100 24 hours |
£10 | 1 | 0.5% |
US500 24 hours |
US$250 | 0.4 | 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 costs and product details
Learn more about our pricing and execution
Market name |
Value of one contract |
Spread |
Margin per contract |
---|---|---|---|
Spot Gold | US$100 | 0.3 | 0.5% |
Spot Silver |
US$50 | 2 | 2.0% |
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 costs and product details
Learn more about our pricing and execution
CFD
|
|
---|---|
Underlying market/value |
Tencent Holdings
|
Our price |
561/562
|
Trade | Buy at 562 |
Trade size |
1,000 shares
|
Margin required | Margin = Number of shares x share price (mid price) x margin rate (10%) 1,000 x 561.5 x 10% = HK$56,150 |
What happens next? |
At the end of trading the market closes at 580. It rises again the next day, reaching 600 (the sell price)
|
Funding | Funding = (One-month bank bill swap rate + 2.5%) x (number of shares x share price) / 360 (0.44% + 2.5%) x (1,000 x 580) / 360 = HK$47.37 |
Underlying market | 600/601 |
Close | Sell at 600 |
Gross profit | 600 - 562 = HK$38 (Multiplied by 1,000 shares) Gross profit = HK$38,000 |
Commission |
Commission = Value of position x 0.18% (Minimum HK$50) (1,000 x 562) x 0.18% = HK$1011.60 (1,000 x 600) x 0.18% = HK$1080 Total commission = HK$2091.60 |
Total costs | Total costs = Funding + commissions HK$47.37 + HK$2091.60 = HK$2138.97 |
Net profit | HK$35861.03 profit subject to tax |
What if... | If the underlying market fell to 524 instead (the sell price): HK$524 – HK$562 = -HK$38 (-HK$38 x 1,000 shares) - (HK$47.37 + 1954.80) Net loss = HK$40,002.17 |
CFD
|
|
---|---|
Market |
Spot FX AUD/USD
|
Price |
0.76912 / 0.76920
|
Trade | Buy at 0.76920 (7,692.0 points) |
Deal size | 1 standard contract Equals US$10 per point |
Margin required | Margin = Number of contracts x value of one contract x current level (mid price) x margin rate (0.5%) 1 x US$10 x 7,691.6 x 0.5% = US$384.58 |
What happens next? |
AUD/USD climbs 150 points into the next day. This position is held through 10pm London time, when funding is calculated.
|
Funding | Funding = size x (tom-next rate + IG's charge for holding positions overnight which is no more than 0.0022% per day) US$10 x -0.96 = -US$9.60 (so you would actually receive US$9.60 in this instance) |
Price | 0.78412 / 0.78420 |
Close | Sell at 0.78412 (7,841.2 points) |
Gross profit | 7,841.2 - 7,692.0 = 149.2 points Each contract is worth US$10 per point (so US$10 x 149.2 points) Gross profit = US$1,492 |
Costs | 0.8 point IG spread (included above) Funding adjustment = US$9.60 (a credit to your account)
|
Net profit | US$1,501.60 |
What if... | What if the market dropped 150 points instead (with a spread of 0.8 points): US$1,508 - US$9.60 Net loss = US$1,498.40 |
Cash CFD
|
|
---|---|
Underlying market/value |
ASX 200 JUN15 Future
|
Our price | Australia 200 Cash 5500.5/5501.5
|
Trade | Buy at 5501.5 |
Deal size | 1 standard contract Equals A$25 per point
|
Margin required | Margin = Number of contracts x value of one contract x index level (mid price) x margin rate (0.5%) 1 x A$25 x 5,501 x 0.5% = A$687.63 |
What happens next? |
The market rallies dramatically, moving up 149 points by 4.50pm, when funding is calculated. It drops back a little overnight, down 10 points from 4.50pm the previous day.
|
Funding | Funding = (One-month bank bill swap rate + 2.5%) x (size of position) / 360 (1.9% + 2.5%) x (5,650 x A$25) / 360 = $17.26 |
Underlying market |
5639.5 / 5640.5
|
Close | Sell at 5639.5 |
Overall market movement & profit/loss | 5639.5 – 5501.5 = 138 Each contract is worth A$25 per point (so A$25 x 138 points) Gross profit = A$3,450 |
Costs | 1-point IG spread (included above) Funding cost: A$17.26 |
Net profit | A$3,432.74 net profit subject to tax |
What if... | If the market dropped 139 points instead (with a spread of 1 point): (-139 - 1) x (A$25) - A$17.26 Net loss = A$3,517.26
|
CFD
|
|
---|---|
Market and price |
Spot Gold 1248.06/1248.46
|
Trade | Buy at 1,248.46 |
Trade size |
1 standard contract Equals US$100 per point |
Margin required | Margin = Number of contracts x value of one contract x level of spot gold (mid) x margin rate (0.7%) 1 x 1,248.26 x US$100 x 0.7% = US$873.78 |
What happens next? |
Spot Gold rallies 10 points into the next day. This position is held through 10pm London time, when funding is calculated.
|
Funding | Funding = size x (tom-next rate + IG's charge for holding positions overnight which is no more than 0.0022% per day) US$100 x 0.12 = US$12 |
Price |
1258.06 / 1258.46
|
Close | Sell at 1,258.06 |
Gross profit | 1,258.06 - 1,248.46 = 9.6 Value per point = US$100 9.6 x US$100 = US$960
|
Costs | 0.4 point IG spread (included) Funding cost = US$12
|
Net profit | US$948 |
What if... | If the market dropped 10 points instead (with a spread of 0.4 points): US$1,040 + US$12 Net loss = US$1,052 |
Funding and interest charges apply to CFD trades. Find out how we apply funding and interest below, or see examples of how funding and interest can affect your positions.
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.
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.
Stock index |
Futures spread |
Commodity |
Futures spread |
---|---|---|---|
Australia 200 | 3 | Spot gold | 0.6 |
Wall Street | 6 | Spot silver | 3 |
Germany 30 | 6 | Light Crude oil | 6 |
Log in to your account to view more indices and commodities on offer.
CFD Future | Cash CFD | |
---|---|---|
Underlying market/value | FTSE 100 JUN15 Future 6400 |
|
Our market/spread | FTSE 100 Jun15 6398/6402 |
FTSE 100 Cash 6401.5/6402.5 |
Trade | Sell at 6398 |
Sell at 6401.5 |
Deal size | 3 contracts £10 per contract |
3 contracts £10 per contract |
Margin required | £750 Margin per contract x number of contracts £250 x 3 |
£750 Margin per contract x number of contracts £250 x 3 |
What happens next? | The market falls during the next 30 days and the FTSE 100 June Future reaches 6310 | |
Funding | Included in the spread on the opening of the future | 30-day funding charge: £ 104.90 Assuming a 30-day average price of 6350 ([one month LIBOR eg 0.49% minus 2.5% x value of underlying value at 10pm]/ 365) x number of days (-2.01% x [6350 x £10] /365) x 30 |
Close | Buy at 6312 |
Buy at 6310.5 |
Gross profit | Gross profit = £2580 6398 – 6312 = 86 £30 per point |
Gross profit = £2730 6401.5 – 6310.5 = 91 £30 per point |
Costs | 4-points IG spread (included) Funding included in spread |
1-point IG spread (included) Funding cost: £104.90 |
Net profit | Net profit = £2580 |
Net profit = £2625.10 |
What if... | If the market rose 86 points instead -(86 x £30) £2580 net loss |
If the market rose 91 points instead -(91 x £30 + £104.90) £2834.90 net loss |
Size for CFDs means number of shares.
Closing price means underlying market price when underlying market closes.
If underlying instrument currency is GBP
Size × closing price × (LIBOR +/- 2.5%) ÷ 365
Based on one-month LIBOR
If underlying instrument currency is USD
Size × closing price × (US LIBOR +/–2.5%) ÷ 360
If underlying instrument currency is EUR
Size × closing price × (EURIBOR +/–2.5%) ÷ 360
The formula uses a 365-day divisor for UK, Singapore and South African shares, and a 360-day divisor for shares in other markets.
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 + IG's charge for holding positions overnight)
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
IG's charge for holding positions overnight which is no more than 0.0022% per day
Three-day funding is charged on Wednesday 10pm UK time. For more information please visit our FX product details.
Size for CFDs means total contract value (number of contracts x value per contract).
Closing price means underlying market price when underlying market closes.
If underlying instrument currency is GBP
Size × closing price × (LIBOR +/- 2.5%) ÷ 365
Based on one-month LIBOR
If underlying instrument currency is USD
Size × closing price × (US LIBOR +/–2.5%) ÷ 360
If underlying instrument currency is EUR
Size × closing price × (EURIBOR +/–2.5%) ÷ 360
Please note: when trading a non-standard GBP-denominated index CFD, or a mini contract on any asset class, the funding rate is +/-3% rather than +/-2.5%
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.
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:
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.
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.
At IG we offer competitive margins across our full range of markets.
We operate a tiered margining policy on all our markets, excluding digital 100s.
Smaller trade sizes generally benefit from better market liquidity and these positions attract our lowest margin rates.
|
CFD |
---|---|
No stop or stop |
Number of shares x share price x margin percentage E.g. 1,000 Tencent Holdings shares at a price of HK$562: 1,000 x 562 x 10% = HK$56,200 margin |
Guaranteed stop |
The total risk on the position:
Value per point x stop distance (in points) + limited risk premium
E.g. 1000 Tencent Holdings shares at a price of HK$562, with a stop 5000 points away and 0.3% limited risk premium. Calculation: (HK$50 x 1,000) + (1,000 x HK$562 x 0.003) = HK$16,686 So the margin requirement is $51,686
|
|
CFD |
---|---|
No stop or 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 |
Guaranteed stop |
The total risk on the position:
Number of contracts x contract size x stop distance + limited risk premium
E.g. 2 standard contracts GBP/USD with a guaranteed stop 20 points way and 1-point limited risk premium. Calculation: (2 x $10 x 20) + (2 x $10 x 1) = $420 margin So the margin requirement is $420
|
|
CFD |
---|---|
No stop or stop |
Number of contracts x contract size x price x margin percentage E.g. one contract of Oil - US Crude: 1 x $10 x 3350 x 1% = $335 |
Guaranteed stop |
The total risk on the position:
Number of contracts x contract size x stop distance + limited risk premium
E.g. One contract Oil - US Crude with a guaranteed stop 90 points way and 4-point limited risk premium. Calculation: (4 x $10) + (90 x $10) = $940 margin
|
PDF (3,000 KB)
Indices Margin Tiers (CFD, Retail)
PDF (1,000 KB)
FX Margin Tiers (CFD, Retail)
PDF (785 KB)
Commodities Margin Tiers (CFD, Retail)
PDF (785 KB)
Interest Rates & Bonds Margin Tiers (CFD, Retail)
PDF (785 KB)
Other Markets Margin Tiers (CFD, Retail)
Our helpdesk team is available 24 hours a day Monday to Friday, and from 9am-5pm (UK time) on the weekend:
Email: helpdesk.en@ig.com
Freephone: +61 3 9860 1799
International: +61 (3) 9860 1799
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, our funding fee is comprised of our admin fee plus or minus the relevant interbank rate for the currency in which the underlying instrument of your trade is denominated (depending on whether your position is long or short).
For forex and spot metals trades, it is the tom-next rate plus a small charge for holding positions overnight.
For commodities and other futures markets there is no overnight funding fee because the cost of funding is built into the spread.
Our forex spreads vary depending on underlying market liquidity. The more liquid the market, the narrower our spread – as low as 0.6 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.
Our share CFD commissions vary depending on the host country for your stock. All Australian shares are subject to a flat 0.10% commission with a minimum of $8, 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.
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 charge for holding positions overnight which is no more than 0.0022% per day.
When you have a guaranteed stop attached to your position, we apply a small fee if it's triggered. For shares, for example, this starts at 0.3% of the underlying transaction value.
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.
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 0.5%.
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, or buy and sell shares via our share dealing service, 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, whether that's to trade share CFDs or buy and sell shares via a share dealing account incurs a monthly fee. |
ProRealTime Charts | Subscribing to real-time charts costs $40 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 fee on the first of every month, if no trading activity has occurred for two years or more. |
Account documentation fee | We charge a US$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. |
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).
Number of shares x share price x margin percentage
E.g. 1000 Vodafone shares at a price of £1.94:
1000 x 1.94 x 5% = £97 margin
(Margin for equivalent trade with no stop x slippage factor) + value per point* x stop distance
E.g. 1000 Vodafone shares at price of £1.94, with a non-guaranteed stop 3 points away:
(£97 x 30% + (£10 x 3) = £59.10 margin
* Note: 100 UK shares = £1 per point, 100 US shares = $1 per point, 100 Euro shares = €1 per point etc
Value per point x stop distance:
E.g. 1000 Vodafone shares at a price of 194, with a guaranteed stop 11 points away:
£10 x 11 = £110 margin
Number of contracts x value per point x price x margin percentage
E.g. one contract of FTSE 100:
1 x £10 x 7000 x 0.5% = £350 margin
(Margin for equivalent trade with no stop x slippage factor) + (Number of contracts x value per point x stop distance)
E.g. 1 contract FTSE 100 with a non-guaranteed stop 12 points away:
(£350 x 50%) + (1 x £10 x 12) = £295 margin
Number of contracts x value per point x stop distance:
E.g. 1 contract FTSE 100 with a guaranteed stop 12 points away:
1 x £10 x 12 = £120 margin
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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Use our mobile and tablet apps to trade whatever the time, wherever you are
Use IG charts, plus access advanced ProRealTime and Autochartist packages
Questions about opening an account:
+61 3 9860 1799
helpdesk.en@ig.com
Existing client questions:
We're here 24hrs a day from 8am Saturday to 10pm Friday (UK time).