Costs and charges

Trade the FTSE 100 on a 1-point spread, and US Crude from just 2.8 points.

Find out more about what you’ll pay for your trading, and why, here.

Call +35 318 009 95362 or email newaccounts.uk@ig.com to talk about opening a trading account. We’re here 24 hours a day, from 8am Saturday to 10pm Friday.

Contact us: +35 318 009 95362

How much does it cost to trade with IG?

Opening an account is free, and our charges are competitive. Trade spreads from 0.4 points on key FX pairs like EUR/USD, 1 point on major indices like the FTSE 100, and 0.1 points on Spot Gold.

Find out below exactly what costs are involved with trading our products, and what we charge for them.

A breakdown of our trading costs

When you trade on leverage, there is only one direct charge that you’ll need to consider – the spread, or a commission in the case of share CFDs. You’ll also want to consider some other potential charges and factors which may influence the cost of your trading.

Spreads and commission

For barriers, vanilla options and CFDs, the spread and commission are the main charges that you’ll need to consider.

You can find spreads and commissions for our most popular markets below. To see the full details for a market, follow the links.

  • Barriers
  • Vanilla options
  • Spread betting
  • CFDs

Barrier trades are subject to both a spread and commission, where CFD trades (apart from those on shares) are subject to just a spread. Barrier spreads tend to be narrower than CFD spreads to compensate.

Commission on all option trades is 0.1 unit of market currency per contract, taken at open and close.

Please note that for barriers, if your position is kept open past 11pm CET, you will be charged overnight funding.

Indices

Market Minimum spread
FTSE 100 0.8
Wall Street 1.4
Germany 30 0.8
Australia 200 0.8

Forex

Market Minimum spread Average spread*
EUR/USD 0.4 0.93
AUD/USD 1.5 1.13
EUR/GBP 0.7 2.31
GBP/USD 0.7 2.18

* Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending 29th May 2020.

Commodities

Market Average spread
Spot Gold 0.1
Spot Silver 1.8
Oil - US Crude 2.8
Oil - Brent Crude 2.8

Vanilla option trades are subject to both a spread and commission. Commission on all option trades is 0.1 unit of market currency per contract, taken at open and close.

Daily options

Indices

Market Available spread
FTSE 100 3-4
Wall Street 4-5
Germnay 30 4-6
Australia 200 2-3

Forex

Market Available spread
EUR/USD 3-4
AUD/USD 3-5
EUR/GBP 3-5
GBP/USD 3-5

Commodities

Market Available spread
Spot Gold 0.5-1
Spot Silver 1-2
Oil - US Crude 5-6

Weekly options

Indices

Market Available spread
FTSE 100 3-5
Wall Street 6-10

Germany 30

4-6
US 500 0.6-1.4

Forex

Market Available spread
EUR/USD 5-8
AUD/USD 5-6
EUR/GBP 6-8
GBP/USD 8-16

Commodities

Market Available spread
Spot Gold 0.5-0.8
Oil - US Crude 5-6

Monthly and quarterly options

Indices (monthly)

Market Available spread
FTSE 100 4-8
Wall Street 8-20
Germany 30 4-6
Australia 200 6-12

Forex (quarterly)

Market Available spread
EUR/USD 5-8
AUD/USD 5-6
EUR/GBP 6-8
GBP/USD 8-16

Commodities (monthly)

Market Available spread
Spot Gold 0.6-1.2
Spot Silver 0.4-1.6
Oil - US Crude 5-6

Daily funded bets

Please note that for daily funded bets, if your position is kept open past 11pm CET, you will be charged overnight funding.*

If you intend to keep a position open for more than one day, you may want to consider whether a future or forward could be more cost-effective over the longer term.

*Or 4.50pm (Sydney time) for AUD-denominated bets.

Indices

Market Minimum spread
FTSE 100 1
Wall Street 2.4
Germany 30 1.2
Australia 200 1

Forex

Market Average spread* Average spread
(00:00-21:00)**
EUR/USD 1.13 0.86
AUD/USD 1.33 1.07
EUR/GBP 2.51 1.83
GBP/USD 2.38 1.84

* Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending 29th May 2020.
** Average spread (between 00:00-21:00 GMT Monday to Friday) for the 12 weeks ending 29th May 2020.

Commodities

Market Standard spread
Spot Gold 0.3
Spot Silver (5000oz) 2
Oil - Brent Crude 2.8
Oil - US Crude 2.8

Shares

Market Minimum spread
Apple Inc 0.10%
Lloyds Banking Group PLC 0.10%
Deutsche Bank AG 0.10%
Westpac Banking Corporation 0.10%

Cryptocurrencies

Market Minimum spread
Bitcoin 36
Ether 1.2
Bitcoin Cash 2
Ripple 0.36

Futures and forwards

To speculate over the longer term, you can spread bet on futures for indices and commodities, and forwards for shares and forex. 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 deal.

If you are looking to take a shorter term position, we recommend a daily funded bet.

Indices

Market Minimum spread
FTSE 100 4
Wall Street 6
Germany 30 6
Australia 200 3

Forex

Market Forward spread
EUR/USD 10
AUD/USD 10
EUR/GBP 7
GBP/USD 9

Commodities

Market Minimum spread
Spot Gold 0.6
Spot Silver (5000oz) 3
Oil - Brent Crude 6
Oil - US Crude 6

Cash CFDs

Please note that for cash CFDs, if your position is kept open past 11pm CET, you will be charged overnight funding.*

If you intend to keep a position open for more than one day, you may want to consider whether a future or forward could be more cost-effective over the longer term.

*Or 4.50pm (Sydney time) for AUD-denominated contracts.

Indices

Market Minimum spread
FTSE 100 1
Wall Street 2.4
Germany 30 1.2
Australia 200 1

Forex

Market Minimum spread Average spread* Average spread
(00:00-21:00)**
EUR/USD 0.6 1.13 0.86
AUD/USD 0.6 1.33 1.07
EUR/GBP 0.9 2.51 1.83
GBP/USD 0.9 2.38 1.84

* Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending 29th May 2020.
** Average spread (between 00:00-21:00 GMT Monday to Friday) for the 12 weeks ending 29th May 2020.

Commodities

Market Value of one contract Minimum spread
Spot Gold $100 0.3
Spot Silver $50 2
Oil - US Crude $10 2.8
Oil - Brent Crude $10 2.8

Shares

With share CFDs you deal 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 Commission per side Min charge (online) Min charge (phone)
UK 0.10% £10 £15
US 2 cents per share $15 $25
Euro 0.10% €10 €25

Cryptocurrencies

Market Minimum spread
Bitcoin 36
Bitcoin Cash 2
Ethereum 1.2
Ripple 0.36

Futures and forwards

To speculate over the longer term, you can trade CFDs on futures for 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 deal.

If you are looking to take a shorter term position, we recommend a cash CFD.

Indices

Market Minimum spread
FTSE 100 4
Wall Street 6
Germany 30 6
Australia 200 3

Commodities

Market Minimum spread
Gold 0.6
Silver 2
Oil - US Crude 6
Oil - Brent Crude 6

Overnight funding

What is overnight funding?

Overnight funding is the cost of keeping barrier, daily funded bets and cash CFD trades open past 11pm CET.

For barriers, spread bets and CFDs, we will make an interest adjustment to your account to reflect the cost of funding your position.

How is overnight funding calculated?

  • Barriers
  • Spread betting and CFDs

Forex

Overnight funding amount = number of contracts x current tom-next rate

If the tom-next rate is less than zero, you will be debited for running a short position and credited for running a long position. If the tom-next rate is greater than zero, you will be credited for running a short position and debited for running a long position.

For any position opened before 11pm Wednesday that is still open after 11pm Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period.

Separately, an admin fee of 0.8% per annum will be applicable for holding positions at 11pm CET.

Indices

Formula for indices overnight funding charge = Nights held x (market closing price x trade size x (admin fee +/- LIBOR)) / 365

Our admin fee is 2.5% for standard CFD contracts, and 3% for minis. If you’re long, you pay LIBOR (or the equivalent interbank rate). If you’re short, you receive it.

Note: The formula uses a 365-day divisor for the FTSE® 100, and a 360-day divisor for all others

We price our Volatility Index (VIX) and EU Volatility Index contracts in a different way to the rest of our cash index markets. Rather than aiming to replicate the underlying index price, we follow the method used to derive our undated commodity prices. This means that there is a difference between our undated price and the underlying index price on these markets. Funding is also calculated in line with the undated commodity method. Please see our commodities page for more details.

Commodities

Formula for commodities overnight funding adjustment = nights held x (trade size x (basis +/- IG charge))

Formula for the basis = (P3 – P2) / (T2 – T1)

P2 = price of front future

P3 = price of next future

T1 = expiry date of the previous front future

T2 = expiry date of the front future

Read about how we price our undated commodity markets to find out how the basis will affect your position.

Formula for the IG charge = Undated bid/ask price (dependant on direction) x 2.5% / 365.

Forex

Formula for forex overnight funding charge = nights held x (tom next* rate including annual admin fee**) x trade size

*We take our tom-next rate from the underlying market.

**Formula for annual admin fee = We apply 0.8% for all contracts.

Indices

Formula for indices overnight funding charge = Nights held x (market closing price x trade size x (admin fee +/- LIBOR)) / 365

Our admin fee is 2.5% for standard CFD contracts, and 3% for minis. If you’re long, you pay LIBOR (or the equivalent interbank rate). If you’re short, you receive it.

Note: The formula uses a 365-day divisor for the FTSE® 100, and a 360-day divisor for all others.

We price our Volatility Index (VIX) and EU Volatility Index contracts in a different way to the rest of our cash index markets. Rather than aiming to replicate the underlying index price, we follow the method used to derive our undated commodity prices. This means that there is a difference between our undated price and the underlying index price on these markets. Funding is also calculated in line with the undated commodity method. Please see our commodities page for more details.

Commodities

Formula for commodities overnight funding adjustment = nights held x (trade size x (basis +/- IG charge))

Formula for the basis = (P3 – P2) / (T2 – T1)

P2 = price of front future

P3 = price of next future

T1 = expiry date of the previous front future

T2 = expiry date of the front future

Read about how we price our undated commodity markets to find out how the basis will affect your position.

Formula for the IG charge = Undated mid price x 2.5% / 365.

The undated mid price is a snapshot of the mid price of the cash CFD or DFB on the relevant date. If you pay the basis on your trade, the IG charge figure is added; if you receive the basis, it’s subtracted.

Shares

Formula for shares overnight funding charge = nights held x (market closing price x trade size x (2.5% +/- LIBOR)) / 365

If you’re long, you pay LIBOR (or the equivalent interbank rate). If you’re short, you receive it.

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Knock-out and guaranteed stop premiums

To help you limit your risk, barriers come with built-in risk protection – the knock-out level. You choose this before your trade, and it determines exactly where your trade will close. You can protect your CFD position in the same way with a guaranteed stop.

How much a knock-out or guaranteed stop will cost, and how it’s charged, depends on the product you’re using.

For barriers and CFDs, the potential knock-out or guaranteed stop premium is displayed on the deal ticket. For barriers it will form part of your overall premium, and for CFDs part of your margin.

Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.

  • Forex
  • Indices
  • Commodities
  • Shares
Market Knock-out premium Guaranteed stop premium
EUR/USD 1.2 1.2
AUD/USD 0.8 0.8
EUR/GBP 1.2 2
GBP/USD 2 2
Market Knock-out premium Guaranteed stop premium
FTSE 100 0.8 0.8
Wall Street 2 1.8
Germany 30 1.5 1.5
Australia 200 1.5 1.5

Market Knock-out premium Guaranteed stop premium
Spot Gold 0.3 0.3
Spot Silver 2 2
Oil - US Crude 3 3
Oil - Brent Crude 3 3

Market Guaranteed stop premium
Apple Inc 0.3%
Lloyds Banking Groupl PLC 0.3%
Deutsche Bank AG 0.3%
Westpac Banking Corporation 0.3%

Extra services and charges

These are some extra services that we charge for.

Service Products Charge
Direct Market Access (DMA) CFDs There’s no charge for using DMA to trade CFDs on forex and shares, or to buy and sell shares via our share dealing service. However, you’ll need to pay a monthly exchange fee to access live DMA prices for some shares.
Live price data feeds CFDs 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 CFDs Subscribing to real-time charts costs £30 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 Barriers, vanilla options, CFDs We charge a £12 fee on the first of every month if no dealing activity has occurred for two years or more. This fee is only charged if you still have funds in your account.
Account documentation fee Barriers, vanilla options, CFDs 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.

Third-party charges

Charges passed on from third parties include:

  • Fees for credit and non-UK debit card payments
  • Same-day transfers under £100 (£15)

FAQs

What are your dealing hours?

Our offices are normally open 24 hours a day between 11pm on Sunday (9pm for forex) and 10.15pm on Friday night (London time).

Dealing hours vary between markets, but standard UK market hours are 08.00-16.30 (London time).

How does overnight funding work?

How overnight funding works depends on the product that you’re using to trade.

Barriers and CFDs

For share and 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 admin fee.

For CFD trades on 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

Spreads vary depending on the product you’re trading. Barrier spreads tend to be slightly narrower than CFD spreads, because you also pay a small commission on barrier trade. The narrower spread is to compensate for this.

In terms of markets, our forex spreads vary depending on underlying market liquidity. The more liquid the market, the narrower our spread – as low as 0.8 points. As the underlying market spread widens, so does ours – but only to our maximum cap.

Our stock index spreads vary by the time of day. During the underlying market hours we offer our standard and tightest spreads eg 1 point on the FTSE 100. When we offer an out-of-hours market, so you can benefit from 24-hour dealing, we offer a wider spread.

CFD traders should remember we offer our tightest spreads on our standard contracts, with wider spreads on some mini and micro contracts.

Commission

How you pay commission depends on the product you’re using to trade. Non-share CFD trades incur no commission.

Barriers and vanilla options are subject to a small commission, 0.1 unit of contract currency per lot, on open and close.

Share CFD commission varies depending on the host country for your stock, and the account you are using. See our product details for all our share CFD commissions.

Share dealing

All UK shares are subject to commission from £5, while all US stocks are subject to commission of 2 cents per share, for example. See our share dealing charges for full shares commissions.

Overnight funding

The overnight funding fee is calculated using the relevant interbank rate for 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. Mini and micro CFD contracts are subject to a higher funding rate.

When should I use a futures contract?

There is no overnight funding fee for forward trades, the funding cost is built into a wider spread. This makes forwards less attractive for short-term trading but more so for long-term trades because you know your real cost from the outset.

Non-share markets

Spread

FTSE 100 4
Wall Street 6
EUR/USD 10
GBP/USD 9
Spot gold 0.6
Spot silver 3

Is there a currency conversion charge?

CFDs and options traded in a currency other than your account’s base currency may incur a currency conversion charge.

Our default setting is instant conversion, where foreign-currency profit is converted to your base currency and funding, commission and dividend charges are taken into account before your account is credited. We also offer daily, weekly and monthly conversion settings. Our standard charge is 0.5.

For relevant share dealing transactions on share dealing accounts, we will convert currencies at the time of execution based on the best available bid / offer exchange rates, plus our spread of 0.5.

Do you offer guaranteed stops?

Yes, we offer guaranteed stops on CFDs so that you can put an absolute cap on your risk. Our barriers have guaranteed stops built in, in the form of the knock-out level.

We apply a small fee if your guaranteed stop or knock-out level is 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.

Which costs more: barrier trading, vanilla trading or CFD betting?

The actual costs of trading with us via an option or CFD vary from market to market.

For barrier and vanilla options, there is a spread charge and commission payment applicable on all trades.

For CFD trading there may be just a spread charge or just a commission charge. You can compare options and CFDs on our comparison page.

There is no fee to use our platform for options or CFDs, but there is a charge for some live data feeds. This also applies to our DMA-specific platforms which require live data feeds. The fee is refunded to active traders.

What is the spread?

For all options and CFDs, the spread is the difference between our sell and buy prices. We derive these prices based on the underlying market's value for CFDs and barrier options, and from a range of sources – including the underlying value, time to expiry and volatility – for vanilla options.

Are there any account fees?

Only if you haven’t placed any deals on your CFD or spread betting account for two years or more, and there is still a balance on your account. We’ll then charge a £12 fee on the first day of every month.

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2 Negative balance protection only applies to trading-related debt (not debt incurred from charges), and does not apply to professional traders.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Options are complex financial instruments and your capital is at risk. Losses may be extremely rapid.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.