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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 3.4 3%
CAD/JPY Y1000 3 3.3 4%
CHF/JPY Y1000 2 2.4 4%
EUR/CAD C$10 3 3.7 2%
EUR/CHF CHF10 2 2.2 3%
EUR/GBP £10 1 1.3 5%
EUR/JPY Y1000 1.2 1.3 4%
EUR/USD $10 0.8 0.9 2%
GBP/CAD C$10 4 4.7 5%
GBP/CHF CHF10 3.2 4 5%

GBP/JPY

Y1000 2.5 2.6 5%
GBP/USD $10 1 1.3 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 December 17 2018.

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 6.6 5%
EUR/ZAR ZAR10 150 207.6 7%
GBP/SGD SGD10 8 9 5%
GBP/ZAR ZAR10 200 257.6 7%
SGD/JPY Y1000 4 4.7 5%
USD/SGD SGD10 4 4.3 5%
USD/ZAR ZAR10 110 137.8 7%

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

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 3.8 3%
AUD/SGD SGD10 6 7 5%
EUR/AUD AUD10 2.4 2.8 3%
EUR/NZD NZD10 4 4.7 5%
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 5.6 5%
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 December 17 2018.

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 42.7 3%
CHF/NOK NOK10 40 51 3%
EUR/DKK DKK10 10 14 2%
EUR/NOK NOK10 25 32.7 3%
EUR/SEK SEK10 30 38.5 3%
GBP/DKK DKK10 36 44.8 5%
GBP/NOK NOK10 60 75.7 5%
GBP/SEK SEK10 60 78 5%
NOK/SEK SEK10 10 13.2 3%
USD/DKK DKK10 15 19.2 2%
USD/NOK NOK10 30 37.4 3%
USD/SEK SEK10 30 37.7 3%

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

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 43.3 5%
EUR/CZK CZK100 25 36.8 5%
EUR/HUF HUF1000 24 41.2 5%
EUR/ILS ILS10 50 81 5%
EUR/MXN MXN10 120 211.9 8%
EUR/PLN PLN10 25 39.2 5%
EUR/TRY TRY10 150 195.4 12%
GBP/CZK CZK100 36 41.8 5%
GBP/HUF HUF1000 30 41.7 5%
GBP/ILS ILS10 60 84.1

5%

GBP/MXN MXN10 150 216.5 8%
GBP/PLN PLN10 30 44.5 5%
GBP/TRY TRY10 450 465.2 12%
USD/CZK CZK100 25 29.6 5%
USD/HUF HUF1000 25 38.6 5%
USD/ILS ILS10 50 70.3 5%
USD/MXN MXN10 50 72.9 8%
USD/PLN PLN10 25 30.9 5%
USD/TRY TRY10 250 265.4 12%

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

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 [1]

Value per pip

Minimum Spread

Average spread* [2]

Margin required [3]

Dealing hours

AUD/CNH CNH10 20 22.8 5% 24 hours
EMFX BRL/JPY ¥1000 5 7.2 9% 13.05-22.00
CAD/CNH CNH10 18 20 5% 24 hours
CNH/JPY ¥1000 1 1.7 5% 24 hours
EUR/CNH CNH10 30 44.7 5% 24 hours
EUR/RUB RUB10 1500 2040.4 20% 07.00-17.00
GBP/CNH CNH10 42 44.8 5% 24 hours
NZD/CNH CNH10 25 28.7 5% 24 hours
EMFX USD/BRL $10 50 87.9 9% 13.05-22.00
USD/CNH CNH10 10 15.5 5% 24 hours
EMFX USD/INR $10 20 26.4 5% 01.30-21.00
EMFX USD/KRW $10 100 186.6 5% 01.00-21.00
USD/RUB RUB10 1200 1580.6 20% 07.00-17.00
EMFX USD/TWD $10 100 117.3 5% 01.30-21.00

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

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 realised 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.

6. You will not be charged any additional commission unless notified in writing.

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