Forex trading involves risk. Losses can exceed deposits

Forex trading costs

With our transparent pricing, you can be confident you understand the value of each trade. There's no commission to pay - we simply charge a bid-offer spread, which can be as little as 0.8 pips.

Forex trading involves risk. Losses can exceed deposits

Spreads, commissions and margins

You pay a spread on every trade. Find these forex trading fees for individual markets below, or see our ‘costs and charges’ document for examples of how spreads and margins can affect your positions.

Major forex pairs

Major forex pairs

Market name

Value
per pip

Min spread

Ave spread*

Margin req

Spot EUR/USD $10 0.8 0.9 2%

Spot AUD/USD

$10 1 1.2 3%
Spot EUR/GBP £10 1 1.3 5%
Spot GBP/USD $10 1 1.3 5%


See full forex product details

Minor forex pairs

Minor forex pairs

Market name

Value
per pip

Min spread

Ave spread2

Margin req

CAD/CHF CHF10 3 3.4 3%

CAD/JPY

¥1000 3 3.3 4%
EUR/CAD C$10 3 3.7 2%
GBP/CAD C$10 4 4.7 5%
USD/SGD SGD10 4 4.3 5%
USD/ZAR ZAR10 110 137.8 7%


See full forex product details

Understanding margin

Margin trading gives you full exposure to a market using only a fraction of the capital you’d normally need. It is the amount of money you need to open a position, defined by the margin rate.

Margin with IG

When trading on margin, it's important to be aware that your risk is also based on your full exposure to the market.

Find out more about margin with IG

Funding and interest

We apply funding and interest charges to forex trades, as explained below. You can also see our ‘costs and charges’ document for examples of how these forex trading costs can affect your positions.

If you keep a position open overnight (after 5pm EST) we will make an adjustment to your account, to reflect the cost of funding your position.

Extra services and charges

There are some extra services that we charge for.

Service

Charge

Inactivity fee We charge a $12 fee on the first of every month, if no trading activity has occurred for two years or more.

Charges passed on from third parties include:

  • Fees for international deposits or those not made in US dollars
  • Withdrawals via wire payments ($15)

Charges and funding FAQs

What are your trading hours?

Our offices are normally open 24 hours a day between 6pm on Sunday and close 5pm on Friday night (EST).

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

How does forex overnight funding work?

When you trade derivatives 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 close your position on the same day, there is no funding fee. If you keep it open overnight, we charge a small fee to cover the cost of the money you’ve effectively borrowed.

The fee is calculated as the tom-next rate plus a small admin fee.

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. As the underlying market spread widens, so does ours – but only to our maximum cap.

Forex overnight charges

The overnight funding fee is calculated using the tom-next rate. These rates change daily, varying the funding fee each day. Mini and micro forex contracts are subject to a higher funding rate.

Is there a currency conversion charge?

Forex trades 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 or commisson 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%.

What are tom-next rates?

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. 

What is the forex spread cost?

The spread is the difference between our sell and buy prices. We derive these prices based on the underlying market's value.

Are there any account fees?

Only if you haven’t placed any deals on your 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.

Do you offer rebates for regular traders?

You can qualify for automatic monthly rebates based on your trading activity. Find out more about our volume-based rebates.

Open a trading account now

It's free to open an account, takes less than five minutes, and there's no obligation to fund or trade.

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending the 17th December 2018.

Contact us

New Accounts

1 844 IG USA FX

newaccounts.us@ig.com

Trading Services

1 312 981 0498

helpdesk.us@ig.com