CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Costs and charges

Opening an account is free, and our charges are competitive. Trade spreads on key FX pairs like USD/ZAR and EUR/ZAR, on major indices like the South Africa 40 and FTSE 100, plus local and international shares like Standard Bank, Naspers and Apple.

Call 010 344 0051 or email helpdesk.za@ig.com to talk about opening a trading account. We're here 24 hours a day from 9am Saturday to 11pm Friday.

Contact us: 010 344 0053

Call 010 344 0051 or email helpdesk.za@ig.com to talk about opening a trading account. We're here 24 hours a day from 9am Saturday to 11pm Friday.

Contact us: 010 344 0053

How much does it cost to trade with IG?

Opening an account is free, and our charges are competitive. Trade spreads on key FX pairs like USD/ZAR and EUR/ZAR, on major indices like the South Africa 40 and FTSE 100, plus local and international shares like Standard Bank, Naspers and Apple.

Find out the costs involved with trading our products, and what we charge for them, below.

A breakdown of our trading costs

When you trade on leverage, there is one direct charge that you’ll need to consider – the spread, or a commission in the case of share CFDs. You’ll also want to consider some other potential charges and factors which may influence the cost of your trading.

  • Direct costs
  • Other potential charges
  • Other factors that are relevant to the cost of your trading

Our spreads and commission

The spread or commission (in the case of share CFDs) is the one direct charge that you’ll need to consider when trading on leverage. You can find spreads and commissions for our most popular markets below. To see the full details for a market, follow the links.

  • CFDs

Please note that for cash CFDs, if your position is kept open past 10pm (UK time), you will be charged overnight funding.*

If you intend to keep a position open for more than one day, you may want to consider whether a future or forward could be more cost-effective over the longer term.

Indices

Market Value of one contact Minimum spread
South Africa 40 R50 30
FTSE 100 £10 1
Wall Street $10 1.6
Germany 30 €25 1
Australia 200 AUD25 1

Forex

Market Value per point Minimum spread Average spread
USD/ZAR ZAR10 90 136.67
EUR/USD $10 0.6 0.75
AUD/USD $10 0.6 0.76
EUR/GBP $10 0.9 1.23
GBP/USD $10 0.9 1.17

Commodities

Market Value of one contract Minimum spread
Spot Gold $100 0.3
Spot Silver (5000oz) $50 2
Oil - Brent Crude $10 2.8
Oil - US Crude $10 2.8

Shares

With share CFDs you deal at the real market price, so we don't attach our own spread. Instead, we take a small commission when you open the position, and again when you close it. In each instance, a minimum charge applies.

Market Commission per side Min charge (online) Min charge (phone)
South Africa 0.20% ZAR100 ZAR100
UK 0.10% £10 £15
US 2 cents per share $15 $25
Euro 0.10% €10 €25

Cryptocurrencies

Market Minimum deal size Minimum spread
Bitcoin 0.2 40
Bitcoin Cash 0.2 2.5
Ethereum 0.5 2

To speculate over the longer term, you can trade CFDs on futures for indices and commodities. We build the overnight funding charges into the spread, so that everything is included. This makes it easier to identify your break-even level on your deal.

If you are looking to take a shorter term position, we recommend a cash CFD.

Indices

Market Value of one contract Minimum spread
FTSE 100 £10 4
Wall Street $10 6
Germany 30 €25 6
Australia 200 AUD25 3

Commodities

Market Value of one contract Minimum spread
Spot Gold $100 0.6
Spot Silver (5000oz) $50 2
Oil - Brent Crude $10 6
Oil - US Crude $10 6

Overnight funding

What is overnight funding?

Overnight funding is the fee you pay for keeping daily funded bets or cash CFD trades open past 10pm UK time. In this event we will make an interest adjustment to your account, to reflect the cost of funding your position.

To avoid paying overnight funding you might want to open a trade on a future or a forward contract.

How is overnight funding calculated?

  • Forex
  • Indices
  • Commodities
  • Shares

Formula for forex overnight funding charge = nights held x (tom next* rate including annual admin fee**) x trade size.

*We take our tom-next rate from the underlying market.
**Formula for annual admin fee = EITHER cash mid price x 0.8% for mini contracts OR cash mid price x 0.3% for CFD standard contracts.

Formula for indices overnight funding charge = Nights held x (market closing price x trade size x (SABOR* +/- 2.5%)) / 365.

*Our admin fee is 2.5% for standard CFD contracts, and 3% for minis. If you’re long, you pay SABOR (or the equivalent interbank rate). If you’re short, you receive it.

We price our Volatility Index (VIX) and EU Volatility Index contracts in a different way to the rest of our cash index markets. Rather than aiming to replicate the underlying index price, we follow the method used to derive our undated commodity prices. This means that there is a difference between our undated price and the underlying index price on these markets. Funding is also calculated in line with the undated commodity method. Please see our overnight funding page for more details.

Formula for commodities overnight funding adjustment = nights held x (trade size x (basis* +/- IG charge**)).

*Formula for the basis = (P3 – P2) / (T2 – T1), where:
P2 = price of front future
P3 = price of next future
T1 = expiry date of the previous front future
T2 = expiry date of the front future
(Read about how we price our undated commodity markets to find out how the basis will affect your position.)
**Formula for the IG charge = undated mid price x 2.5% / 365. The undated mid price is a snapshot of the mid price of the cash CFD or DFB on the relevant date. If you pay the basis on your trade, the IG charge figure is added; if you receive the basis, it’s subtracted.

Formula for shares overnight funding charge = nights held x (market closing price x trade size x (Libor +/- 2.5%*)) / 365.

*If you’re long, you pay LIBOR (or the equivalent interbank rate). If you’re short, you receive it.

Guaranteed stop premiums

You can protect your position against slippage with a guaranteed stop, paying only a small premium if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.

See the price of guaranteed stops for some of our most popular market below.

  • Forex
  • Indices
  • Commodities
  • Shares
Market Guaranteed stop premium
EUR/ZAR 90
USD/ZAR 180
EUR/USD 1.2
AUD/USD 0.8
EUR/GBP 2
GBP/USD 2
Market Guaranteed stop premium
South Africa 40 15
FTSE 100 0.8
Wall Street 1.8
Germany 30 1.5
Australia 200 1.5

Market Guaranteed stop premium
Spot Gold 0.3
Spot Silver 2
Oil - US Crude 3
Oil - Brent Crude 3

Market Guaranteed stop premium (only if triggered)
Naspers 0.3%
Standard Bank 0.3%
Apple Inc 0.3%
Lloyds Banking Groupl PLC 0.3%
Deutsche Bank AG 0.3%
Westpac Banking Corporation 0.3%

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Extra services and charges

For CFDs, there are some extra services that we charge for.

Service Charge
Direct Market Access (DMA) There’s no charge for using DMA to trade CFDs on forex and shares. However, you’ll need to pay a monthly exchange fee to access live DMA prices for some shares.
Live price data feeds Obtaining live share prices from an exchange to trade share CFDs incurs a monthly fee.
ProRealTime Charts Subscribing to real-time charts costs R300 per month. This is refunded if you place four or more trades a month. We reserve the right to charge you for the service if your qualifying trades are of an extremely low value.
Inactivity fee While there is normally no fee for IG accounts, we charge a R150 fee on the first of every month if no dealing activity has occurred for two years or more. This fee is only charged if you still have funds in your account.
Account documentation fee We charge a $50 fee on accounts which have not supplied a mandatory W-8 or W-9 form prior to the dividend ex-date of a qualifying trade on a US-incorporated stock. We do not apply this fee to accounts with up-to-date documentation or accounts which have not entered into qualifying trades. We will notify you if you have entered into a qualifying trade and need to complete a form.
Currency conversion charge CFDs traded 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, commission and dividend 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%.

Service Charge
Direct Market Access (DMA) There’s no charge for using DMA to trade CFDs on forex and shares. However, you’ll need to pay a monthly exchange fee to access live DMA prices for some shares.
Live price data feeds Obtaining live share prices from an exchange to trade share CFDs incurs a monthly fee.
ProRealTime Charts Subscribing to real-time charts costs R300 per month. This is refunded if you place four or more trades a month. We reserve the right to charge you for the service if your qualifying trades are of an extremely low value.
Inactivity fee While there is normally no fee for IG accounts, we charge a R150 fee on the first of every month if no dealing activity has occurred for two years or more. This fee is only charged if you still have funds in your account.
Account documentation fee We charge a $50 fee on accounts which have not supplied a mandatory W-8 or W-9 form prior to the dividend ex-date of a qualifying trade on a US-incorporated stock. We do not apply this fee to accounts with up-to-date documentation or accounts which have not entered into qualifying trades. We will notify you if you have entered into a qualifying trade and need to complete a form.
Currency conversion charge CFDs traded 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, commission and dividend 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%.

FAQs

Our offices are normally open 24 hours a day between 9pm on Sunday 11pm on Friday night (SAST)

When you trade CFDs 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.

For share and stock index trades, our funding fee is comprised of our admin fee plus or minus the relevant interbank rate for the currency in which the underlying instrument of your trade is denominated (depending on whether your position is long or short).

We price our Volatility Index (VIX) and EU Volatility Index contracts in a different way to the rest of our cash index markets. Rather than aiming to replicate the underlying index price, we follow the method used to derive our undated commodity prices. This means that there is a difference between our undated price and the underlying index price on these markets. Funding is also calculated in line with the undated commodity method. Please see our overnight funding page for more details.

For forex and spot metals trades, it is the tom-next rate plus a small admin fee.

For futures markets there is no overnight funding fee because the cost of funding is built into the spread.

Spreads

Our spreads are the same for CFDs, apart from shares. Share CFDs directly reflect the underlying market price, and are subject to commission. CFD traders should remember we offer our tightest spreads on our standard contracts, with wider spreads on some mini and micro contracts.

Our forex spreads vary depending on underlying market liquidity. The more liquid the market, the narrower our spread – as low as 0.8 points. As the underlying market spread widens, so does ours – but only to our maximum cap.

Our stock index spreads vary by the time of day. During the underlying market hours we offer our standard and tightest spreads eg 1 point on the FTSE 100. When we offer an out-of-hours market, so you can benefit from 24-hour dealing, we offer a wider spread.

Commission

Our commission varies depending on the host country for your stock, and the account you are using

CFDs

You'll pay between 0.1% and 0.35% commission on all UK share trades (0.1% on large caps, 0.25% on midcaps and 0.35% on small caps), while all US stocks are subject to a CFD commission of 2 cents per share, for example. See our product details for all our share CFD commissions.

Overnight funding

The overnight funding fee is calculated using the relevant interbank rate for stock index and share trades. The fee for forex trades is calculated using the tom-next rate. These rates change daily, varying the funding fee each day. Mini and micro CFD contracts are subject to a higher funding rate.

There is no overnight funding fee for forward trades, the funding cost is built into a wider spread. This makes forwards less attractive for short-term trading but more so for long-term trades because you know your real cost from the outset.

For fixed-expiry deals on stock indices and commodities we offer futures for spread betting and CFDs. For fixed-expiry shares and forex, we offer forwards for spread betting.

Non-share markets

Spread

FTSE 100 4
Wall Street 6
EUR/USD 10
GBP/USD 9
Spot gold 0.6
Spot silver 3

Share markets

Quarterly bets
(near)

Quarterly bets
(far)

Quarterly bets
(very far)

FTSE 100 shares 0.20% 0.40% 0.60%
Major US shares 0.40% 0.45% 0.60%
Euro shares 0.35% 0.45% 0.60%

CFDs traded 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, commission and dividend 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%.

When you have a guaranteed stop attached to your position, we apply a small fee if it's triggered. For shares, for example, this is 0.3% of the underlying transaction value.

The interbank rate is the interest rate charged between banks for short-term loans. It is a key indicator for other interest rate charges, which is why we use it as a basis for calculating our overnight funding fees for your share and stock index trades.

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.

For CFDs, the spread is the difference between our Sell and Buy prices. We derive these prices based on the underlying market's value.

Only if you haven’t placed any trades on your CFD 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. This fee is only charged if you still have funds in your account.

You might be interested in…

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Discover the exciting range of markets that you can trade on with us – including indices, shares and forex.

Learn about the risks of trading, and how protect your capital with our range of in-platform tools.

* Negative balance protection only applies to trading-related debt (not debt incurred from charges), and does not apply to professional traders.

1 By number of primary relationships with FX traders (Investment Trends UK Leveraged Trading Report released July 2019).