Forex trading

Harness volatility in the world’s most-traded financial market with the No.1 retail forex provider in the UK.1

Trade forex on our international account.

Call 010 344 0053 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

Why trade forex with us?

Get an edge with the UK's best web-based platform and award-winning mobile trading apps2

Negative balance protection ensures that your
account never stays below zero3

Get friendly, expert support 24 hours a day from 6am Saturday to 10pm Friday

Identify FX opportunities on clear, fast charts, and deepen your analysis with ProRealTime

Get peace of mind trading forex online with a provider that's authorised and regulated by the FCA

Open a free account quickly and easily - you could be trading forex in minutes

Ways to trade forex with IG

CFD DMA (Forex Direct)
Main benefits Tax-deductible losses are useful for hedging4 Increased market transparency and order control
Accessible to All clients Professional clients only5
Traded in Contracts Lots
Tax status No stamp duty, but you do pay CGT. Losses can be offset as a tax deduction4 No stamp duty, but you do pay CGT. Losses can be offset as a tax deduction4
Commission Commission-free for FX Variable commission
Platforms Web, mobile app and advanced platforms L2 dealer, mobile app, terminals and APIs
Learn more about CFD trading Learn more about DMA

What is forex trading?

Forex trading, is the buying and selling of currencies on the foreign exchange market with the aim of making a profit.

Forex is the world’s most-traded financial market, with transactions worth trillions of dollars taking place every day.

What are the benefits?

  • Go long or short
  • 24-hour trading
  • High liquidity
  • Constant opportunities
  • Trade on leverage
  • Wide range of FX pairs

How do I trade forex?

  1. Decide how you’d like to trade forex
  2. Learn how the forex market works
  3. Open a forex trading account
  4. Build a trading plan
  5. Choose your forex trading platform
  6. Open, monitor and close your first position

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Trade seamlessly, wherever you are

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

Feel secure with a trusted provider

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

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to more than 17,000 global markets, with reliable execution

Trade seamlessly, wherever you are

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

Feel secure with a trusted provider

With 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.

How much does FX trading cost?

Margins

When you trade CFDs you do so with leverage - meaning you can win, or lose, a significant amount more than your initial deposit - called your margin. Though not actually a cost to you, the margin you pay makes a big difference to the affordability of your forex trade.

Spreads

Your key payment for trading forex is the spread - the difference between the buy and the sell price - our charge for executing your trade. We work to keep our spreads among the lowest in the business.

Spot FX

IG min. spread

IG av. spread5

IG av. spread6 (00:00-21:00)

DMA av. spread7

EUR/USD 0.6 0.75 0.86 0.142
AUD/USD 0.6 0.76 1.07 0.329
USD/JPY 0.7 0.76 0.96 0.212
EUR/GBP 0.9 1.23 1.83 0.398
GBP/USD 0.9 1.17 1.84 0.639
EUR/JPY 1.5 1.64 1.96 0.48
USD/CHF 1.5 1.7 1.95 0.489

Depending on your position, you may need to pay overnight funding.

It's free, quick and simple to create an account with us. Open one today, and you'll get access to over 17,000 financial markets.

When you're ready, you choose your deal size. What's more, you'll get lower minimums for one month while you master the markets.

Discover your next opportunity

Search our huge range of forex pairs.

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Live FX prices

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These prices are indicitive only, and subject to our website terms and conditions.

Choose your currency trading platform

Seize opportunity at your desk or on the go with the UK’s best web trading platform and mobile trading app.2

FAQs

How much does it cost to start trading forex?

The cost of trading forex depends on which currency pairs you choose to buy or sell. With IG, you’ll trade forex on margin , which means you need a small percentage of the full value of the trade to open and maintain your position. Margin isn’t a direct cost to you, but it has a significant impact on the affordability of your trade. Our margin rates start from as little as 0.45%.

Other than the margin, you also pay a spread, which is the difference between the ‘buy’ and the ‘sell’ price of an asset. To open a long position, you’d trade slightly above the market price (buy price) and to open a short position, you’d trade slightly below the market price (sell price).

Lastly, if you do not close your position before the end of the trading day, you will pay overnight funding charges.

Read more about forex costs and charges here

Is forex open on weekends?

No, the forex market closes at 11pm on Friday, and does not open again until 10pm on Sunday. However, IG offers weekend trading on the GBP/USD currency pair. This means you never need to miss an opportunity to trade.

Note that the market is only closed to retail traders (not central banks and related organisations), so there can be a difference in price between Friday close and Sunday open.

Learn more about weekend trading with IG

When is the best time to trade the forex market?

The best time to trade forex will depend on your personal risk preference, as high liquidity and volatility can affect forex prices. When the London session opens at 9am, liquidity and volatility will likely be high as traders begin interacting with each other. Trading will usually become less liquid a few hours later, and it will pick up again after the American session opens at around 1 pm.

The foreign exchange market is open 24 hours a day, five days a week – from 10pm Sunday to 11pm Friday. So, you can trade at a time that suits you and take advantage of different active sessions.

Remember: the forex market’s opening hours will change when certain countries shift to daylight savings time.

How do I open a forex trading account?

With IG, you can open a forex trading account online , call 010 344 0051 or email helpdesk.za@ig.com. It only takes a few minutes to create an account, and there’s no obligation to add funds until you want to place a trade.

Alternatively, you can open a demo account to experience our award-winning platform and develop your forex trading skills.

Award-winning forex provider

Choose the No.1 FX retail provider1

IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?

Choose the No.1 FX retail provider

IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?

Choose the No.1 FX retail provider

IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?

Choose the No.1 FX retail provider

IG is home to more retail forex traders in South Africa than any other forex trading. Why trade with anyone but the No.1?

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

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1 By number of primary relationships with FX traders (Investment Trends UK Leveraged Trading Report released July 2020).

2 Best trading platform as awarded at the ADVFN International Financial Awards and Professional Trader Awards 2019. Best trading app as awarded at the ADVFN International Financial Awards 2020.
3 Negative balance protection applies to trading-related debt only, and is not available to professional traders.
4 Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.
5 The advertised offering is only available to individual clients capable of obtaining ‘professional’ status. This requires experience of trading relevant products on your own account above a certain size, experience of working within the financial sector for at least one year in a relevant position and/or a personal investment portfolio worth at least €500,000.
6 Average spread (between 00:00-21:00 GMT Monday to Friday) for the 12 weeks ending 29th May 2020. For our minimum spreads, please see our forex CFD details.
7 Average spread (between 00:00-21:00 GMT Monday to Friday) for the 12 weeks ending 29th May 2020. There is also a commission charge for Forex Direct.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.