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What are IG's forex product details?

Our forex spreads are variable depending on underlying market prices. In most conditions we can usually offer our minimum spread, but when market prices go wider, our spread will increase. Market prices can get wider at illiquid times of day, or when major news or economic data is released. In the tables below you will find our minimum spreads and our average spread for a given period:

  • Minimum spread – our tightest possible spread
  • Average spread – the average spread over a given period of time
  • Major
  • Minor
  • Australasian
  • Scandinavian
  • Exotic
  • Emerging
  • Notes to table

Major

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 [1]

Value per pip

Minimum spread

Average spread* [2]

Margin required [3]

AUD/USD $10 1 1.2 3%
CAD/CHF CHF10 3 3.3 3%
CAD/JPY Y1000 3 3.3 4%
CHF/JPY Y1000 2 2.3 4%
EUR/CAD C$10 3 3.8 2%
EUR/CHF CHF10 2 2.2 3%
EUR/GBP £10 1 1.4 5%
EUR/JPY Y1000 1.2 1.3 4%
EUR/USD $10 0.8 0.9 2%
GBP/CAD C$10 4 5.3 5%
GBP/CHF CHF10 3.2 4 5%

GBP/JPY

Y1000 2.5 2.7 5%
GBP/USD $10 1 1.6 5%
USD/CAD C$10 1.5 1.7 2%
USD/CHF CHF10 1.5 1.7 3%
USD/JPY Y1000 0.8 0.9 4%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending April 26, 2019.

Minor

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 [1]

Value per pip

Minimum spread

Average spread* [2]

Margin required [3]

EUR/SGD SGD10 6 6.2 5%
EUR/ZAR ZAR10 150 184.4 7%
GBP/SGD SGD10 8 8.8 5%
GBP/ZAR ZAR10 200 241.9 7%
SGD/JPY Y1000 4 4.4 5%
USD/SGD SGD10 4 4.2 5%
USD/ZAR ZAR10 110 128.9 7%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending April 26, 2019.

Australasian

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 [1]

Value per pip

Minimum spread

Average spread* [2]

Margin required [3]

AUD/CAD C$10 2.2 2.5 3%
AUD/CHF CHF10 3 3.2 3%
AUD/JPY Y1000 1.6 1.7 4%
AUD/NZD NZD10 3.6 3.7 3%
AUD/SGD SGD10 6 6.2 5%
EUR/AUD AUD10 2.4 2.8 3%
EUR/NZD NZD10 4 4.6 3%
GBP/AUD AUD10 2.8 3.5 5%
GBP/NZD NZD10 5 6 5%
NZD/CAD C$10 4.5 4.8 3%
NZD/CHF CHF10 5 5.5 3%
NZD/JPY Y1000 2.5 2.7 4%
NZD/USD $10 2.6 2.7 3%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending April 26 2019.

Scandinavian

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 [1]

Value per pip

Minimum spread

Average spread* [2]

Margin required [3]

CAD/NOK NOK10 25 39.3 3%
CHF/NOK NOK10 40 49.3 3%
EUR/DKK DKK10 10 14.3 2%
EUR/NOK NOK10 25 33.1 3%
EUR/SEK SEK10 30 37.7 3%
GBP/DKK DKK10 36 45.6 5%
GBP/NOK NOK10 60 75.9 5%
GBP/SEK SEK10 60 78.5 5%
NOK/SEK SEK10 10 13.1 3%
USD/DKK DKK10 15 19.2 2%
USD/NOK NOK10 30 36.6 3%
USD/SEK SEK10 30 36.9 3%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending April 26, 2019.

Exotic

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 [1]

Value per pip

Minimum spread

Average spread* [2]

Margin required [3]

CHF/HUF HUF1000 35 42.7 5%
EUR/CZK CZK100 25 35.2 5%
EUR/HUF HUF1000 24 37.9 5%
EUR/ILS ILS10 50 74.1 5%
EUR/MXN MXN10 120 199.1 8%
EUR/PLN PLN10 25 37.1 5%
EUR/TRY TRY10 150 204.8 12%
GBP/CZK CZK100 36 42 5%
GBP/HUF HUF1000 30 40.1 5%
GBP/ILS ILS10 60 87.3

5%

GBP/MXN MXN10 150 214.3 8%
GBP/PLN PLN10 30 44.7 5%
GBP/TRY TRY10 450 494 12%
USD/CZK CZK100 25 29.1 5%
USD/HUF HUF1000 25 36.5 5%
USD/ILS ILS10 50 70.1 5%
USD/MXN MXN10 50 67.2 8%
USD/PLN PLN10 25 29.8 5%
USD/TRY TRY10 250 261.1 12%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending April 26, 2019.

Emerging

Emerging markets pairs are either quoted based on the spot market (Spot FX) or one-month non-deliverable forward prices (EMFX). For every pair we offer both a standard sized contract. Spot FX contracts are priced in the pair's second named currency, but EMFX contracts are only priced in US dollars.

Currency pair

Minimum spread

Average spread

Margin required

AUD/CNH 20 22.6 5%
CAD/CNH 18 19.9 5%

CNH/JPY

1 1.5 5%

EUR/CNH

30 40.6 5%
EUR/RUB 1500 1977.0 20%
GBP/CNH 42 44.9 5%
NZD/CNH 25 27.4 5%
USD/CNH 10 15.3 5%
EMFX BRL/JPY 5 11.4 9%
USD/RUB 1200 1523.0 20%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending April 26, 2019.

BRL - Brazilian real
CNH - Chinese renminbi (yuan) – offshore
IDR - Indonesian rupiah
INR - Indian rupee
KRW - South Korean won
MYR - Malaysian ringgit
PHP - Philippine peso
RUB - Russian rouble
TWD - Taiwan dollar

Our foreign exchange transactions provide exposure to changes in exchange rates, but cannot result in the delivery of the underlying currencies.

1. Normal trading hours for all pairs are from 21.00 (London time) on Sunday until 21.59 (London time) on Friday, with the exception of emerging-market pairs, which operate on different schedules. All trading times listed are London times. Please note that Daylight Savings Time in the USA or UK may cause the times shown to be imprecise.

2. Spreads are subject to variation, especially in volatile market conditions. Our quotations are derived from quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We monitor the liquidity available in the underlying market, offering our minimum spread when the market spread is particularly small. In most other conditions, our typical spread applies. If spreads move wider in the underlying market, we may match this. We do not apply any weighting or biases to our pricing sources.

3. Margin requirements represent a percentage of the overall position value. You can find the tiered margins from the Get Info dropdown section within each market in our trading platform. Please note that higher margins may be required for large positions. Please see our tiered margining page for more details.

4. When you trade in a currency other than your default currency, your profit or loss will be realized in that currency. As standard practice, we will then immediately convert this back to your default currency. You can change this at any time via the trading platform.

5. For foreign exchange transactions, adjustments are made to calculate the cost of funding a position, and these are posted to your account daily. The adjustments are calculated as follows:

A = V x R

Where:
A = the funding cost
V = the number of contracts x contract size
R = the current tom-next rate, including an administrative charge not exceeding 0.5% per annum

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.

The funding charge is calculated for any position opened before 22.00 that is still open after 22.00 (London time).

Note: For any position opened before 22.00 Wednesday that is still open after 22.00 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. This will not always apply to emerging-market pairs. Emerging pairs are priced using one-month pricing, so the funding charge for these will depend on the three-day adjustment that is made in the underlying market.

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