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.

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 4.1 3%
CAD/JPY Y1000 3 3.9 2%
CHF/JPY Y1000 2 2.6 3%
EUR/CAD C$10 3 4.0 2%
EUR/CHF CHF10 2 2.5 3%
EUR/GBP £10 1 1.4 3%
EUR/JPY Y1000 1.2 1.6 2%
EUR/USD $10 0.8 1.0 2%
GBP/CAD C$10 4 5.5 3%
GBP/CHF CHF10 3.2 4.3 3%
GBP/EUR €10 2 2.6 3%

GBP/JPY

Y1000 2.5 3.1 3%
GBP/USD $10 1 1.4 3%
USD/CAD C$10 1.5 1.9 2%
USD/CHF CHF10 1.5 2.0 3%
USD/JPY Y1000 0.8 1.0 2%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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 7.9 5%
EUR/ZAR ZAR10 150 203.7 7%
GBP/SGD SGD10 8 11.7 5%
GBP/ZAR ZAR10 200 253.9 7%
SGD/JPY Y1000 4 5.0 5%
USD/HKD HK10 5 6.3 20%
USD/SGD SGD10 4 5.4 5%
USD/ZAR ZAR10 110 133.3 7%
ZAR/JPY Y1000 4 2.1 7%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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 3.3 3%
AUD/CHF CHF10 3 4.0 3%
AUD/JPY Y1000 1.6 2.0 3%
AUD/NZD NZD10 3.6 4.2 3%
AUD/SGD SGD10 6 7.9 5%
EUR/AUD AUD10 2.4 3.7 3%
EUR/NZD NZD10 4 5.0 3%
GBP/AUD AUD10 2.8 4.5 3%
GBP/NZD NZD10 5 5.8 3%
NZD/CAD C$10 4.5 5.0 3%
NZD/CHF CHF10 5 5.2 3%
NZD/JPY Y1000 2.5 3.0 3%
NZD/USD $10 2.6 2.8 3%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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 61.3 7%
CHF/NOK NOK10 40 58.9 7%
EUR/DKK DKK10 10 12.3 5%
EUR/NOK NOK10 25 48.2 7%
EUR/SEK SEK10 30 43.8 3%
GBP/DKK DKK10 36 47.3 5%
GBP/NOK NOK10 60 92.4 7%
GBP/SEK SEK10 60 89.4 3%
NOK/SEK SEK10 10 16.0 7%
NOK/JPY Y1000 0.8 1.4 7%
SEK/JPY Y1000 0.6 1.2 3%
USD/DKK DKK10 15 17.7 5%
USD/NOK NOK10 30 51.8 7%
USD/SEK SEK10 30 45.1 3%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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 48.1 5%
CHFTRY TRY10 25 264.4 12%
EUR/CZK CZK100 25 35.6 5%
EUR/HUF HUF1000 24 39.8 5%
EUR/ILS ILS10 50 80.8 5%
EUR/MXN MXN10 120 225.5 10%
EUR/PLN PLN10 25 36.4 5%
EUR/TRY TRY10 150 242.3 12%
GBP/CZK CZK100 36 45.3 5%
GBP/HUF HUF1000 30 46.4 5%
GBP/ILS ILS10 60 93.0

5%

GBP/MXN MXN10 150 387.8 10%
GBP/PLN PLN10 30 43.7 5%
GBP/TRY TRY10 70 334.3 12%
MXN/JPY Y1000 0.6 0.8 10%
PLN/JPY Y1000 2 2.6 5%
TRY/JPY Y1000 8 9.9 12%
USD/CZK CZK100 25 29.9 5%
USD/HUF HUF1000 25 41.4 5%
USD/ILS ILS10 50 70.8 5%
USD/MXN MXN10 50 140.5 10%
USD/PLN PLN10 25 37.7 5%
USD/TRY TRY10 50 114.1 12%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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 26.3 5%
CAD/CNH 18 22.7 5%

CNH/JPY

1 1.6 5%

EUR/CNH

30 36.1 5%
SP_EURRUB 1500 1903.8 20%
GBP/CNH 42 49.4 5%
NZD/CNH 25 28.9 5%
RUBJPY 2.5 1.1 20%
USD/CNH 10 13.5 5%
EMFX BRL/JPY 5 5.2 9%
USD/RUB 1200 1459.9 20%

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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

*Average spread (Monday 00:00 - Friday 22:00 GMT) for the 6 weeks ending June 25, 2021

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 9:00 pm London time (usually 4:00 pm ET) on Sunday until 4:59 pm ET on Friday, with the exception of emerging-market pairs, which operate on different schedules. 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. Margins are subject to variation, especially in volatile market conditions. 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. Our standard convert-on-close charge is 0.5%.

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 adjustment is calculated for any position opened before 5:00 pm ET that is still open after 5:00 pm ET.

Note: Most forex pairs trade on a T+2 basis, and therefore any position opened before 5:00 pm ET Wednesday that is still open after 5:00 pm ET 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. Some pairs trade on a T+1 basis (such as USD/CAD and USD/TRY), and these pairs have a three-day adjustment on a Thursday at 5:00 pm ET. Adjustments will also take into account any holidays applicable to each currency in a pair.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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