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IPO trading, explained.
When a company announces plans to go public, you can speculate on what the total market value might be worth until it launches with spread betting and CFDs on IG. Your trade is settled against the official market capitalisation at the close of the first day of trading.
Example: If a company is expected to IPO with a market cap of around £10 billion, you might see our pre-IPO market priced at £13 billion. You could:
Go long if you think the actual market cap will be higher than £13 billion
Go short if you think it will be lower than £13 billion
If the company was to close with a market cap of £15 billion at the end of the first day of unconditional trading, your profit or loss is calculated against that valuation.
If the IPO is cancelled or the company explicitly states it won’t happen, your open trades will be closed at the price at which they were opened with no profit or loss.
Costs and details
Minimum size 0.01
Contract size USD 10
One Pip means 1 Index Point
Value of one Pip USD 10 (GBP 7.54)
Margin 25%
Minimum stop distance 5
Minimum guaranteed stop distance 5
Your aggregate position in this market will be margined in the following tiers:
Tier 1
Position size: 0 - 5 Contracts - GBP
Margin: 25%
Tier 2
Position size: 5 - 20 Contracts - GBP
Margin: 40%
Tier 3
Position size: 20 - 50 Contracts - GBP
Margin: 75%
Tier 4
Position size: 50 + Contracts - GBP
Margin: 100%
Get in before the public.
When OpenAI announces plans to go public, our pre-IPO market allows you to speculate on what that OpenAI's total market value might be worth when trading begins. This means you can follow the IPO through to when it launches and take a stance on how you think it will perform.
Important: you're trading on the company's overall market cap valuation, not individual share prices.
How to trade OpenAI before IPO.
Pick your direction.
Buy if you think the private valuation will rise before listing, sell if you think it will fall.
Set your size and risk.
Trade from one contract, with stops, limits and guaranteed stops available on every pre-IPO market.
Close or roll at settlement.
Close whenever the market is open. If the company lists or is acquired, we settle the market at the terms in its details.
Pre-IPO markets explained
How Pre-IPO markets work.
Dynamic pricing
IG determines the prices of our pre-IPO markets. These prices move in real-time and are affected by IG Client trading activity, breaking news about the company, changes to expected pricing or subscription levels, new fund-raising announcements, and more.
Flexible trading
Trade 24/7 with IG's Pre-IPO markets2. No charges for holding positions overnight. Find our Pre-IPO markets on the IG web platform or app under the "IPO" and "Popular Markets" watchlists. Go long or short on any company listed in the pre-IPO market.
Built-in protection
Every Pre-IPO Market has a set expiry date, specified in-platform. This is a date by which the company needs to float. If the company doesn't go public by this date or cancels their IPO plans, all open positions are voided without realising any profit or loss. Any trades you've already closed before expiry will remain unchanged. This means that any realised profit or loss will not be affected even if the IPO misses its expiry date.
