Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

Forex trading costs

IG offers 80+ currency pairs on our award-winning platform1 with an aim to offer low spreads and exceptionally fast execution on USD/JPY, EUR/USD and more.

Start trading today. Call 844 IG USA FX or email newaccounts.us@ig.com. We’re here 24 hours a day, from 3am Saturday to 5pm Friday (EST).

Contact us: 844 IG USA FX

Call 1 844 IG USA FX or email newaccounts.us@ig.com to talk about opening a trading account.

Contact us 1 844 IG USA FX

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call 0800 409 6789 or email helpdesk.us@ig.com if you have any questions about trading or investing. We're available 24/7 between 8am Saturday and 10pm Friday.

Contact us 0800 409 6789

Spreads and margins

Find examples of average spreads below, or see our ‘costs and charges’ document for examples of how spreads and margins can affect your positions.

  • Major forex pairs
  • Minor forex pairs

For every pair we offer a standard contract size (one contract = 100,000 of the first-named currency), with a minimum trade size of 0.01 lots (equivalent to 1000 of the first-named currency).

Currency pair Value per pip Minimum spread Average spread Margin required
AUD/USD $10 1 1.4 3%
EUR/GBP £10 1 1.8 3%
EUR/USD $10 0.8 1.2 2%
GBP/USD $10 1 1.7 3%
USD/JPY Y1000 0.8 1.2 2%

For full product details click here.

For every pair we offer a standard contract size (one contract = 100,000 of the first-named currency), with a minimum trade size of 0.01 lots (equivalent to 1000 of the first-named currency).

Currency pair Value per pip Minimum spread Average spread Margin required
CAD/CHF CHF10 3 4.3 3%
GBP/CAD C$10 4 6.5 3%
GBP/ZAR ZAR10 200 275.8 7%
USD/SGD SGD10 4 6 5%
USD/ZAR ZAR10 110 158.3 7%

For full product details click here.

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.

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.

Forex trading cost and charges

  • Overnight funding fees
    When you trade derivatives with us, you trade on margin. This means you provide 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 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.
  • Currency conversion charges
    Forex trading 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 commission 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%.
  • 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.

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy low spreads with a reliable execution

Trade seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app1

Feel secure with a trusted provider

Backed by more than 45 years of experience, we’re proud to offer a truly market-leading service

Forex trading involves risk. Losses can exceed deposits.

Forex trading involves risk. Losses can exceed deposits.

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to more than ##markets_overall## global markets, with reliable execution

Deal seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Feel secure with a trusted provider

With more than 45 years of experience, we’re proud to offer a truly market-leading service

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

FAQs

What are your trading hours?

Our offices are normally open 24 hours a day between 4pm 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).

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.

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 trades 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.

1 "Award winning platform” is based on the ForexBrokers.com 2022 Annual Review. The Forex Brokers Awards is a submissions-based process where companies are invited to enter the judging process. Awards are given by Forex Brokers judges, based on demonstrating innovative ideas implemented in a practical way for solving issues for clients. You can view how they rate brokers by visiting here: https://www.forexbrokers.com/how-we-test