Over 40 years’ heritage
185,000 clients worldwide
Access to over 15,000 markets

Our charges

We are clear about our charges, so you always know what fees you will incur when you trade with us

Commissions and margins

You pay a spread on every non-share CFD. You pay commission on every share CFD .

CFD trading

Indices

Market name

Value of one contract

Available spread

Margin per contract

South Africa 40

24 hours

R50 8 1.5%
FTSE 100
24 hours
£10 1 1%

Wall Street
24 hours

$10 1.8 1%
Germany 30
24 hours
€25 1
 
1%
Australia 200
24 hours
AUD25

1
 

1%

 

See full indices costs and details

 

Shares

Share category Commission per side Min charge (online) Min charge (phone)
SA 0.20% R100 N/A
UK 0.10% £10  £15
US 2 cents per share $15 $25
Euro1 0.10% €10 €25

 

With share CFDs you trade 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.

 

See full shares costs and details

 

Forex

Market name

Value
per pip

Min spread

Ave spread

Margin req

Spot EUR/USD $1 0.6 0.95 1.5%

Spot AUD/USD

$10 0.6 1.29 1%
Spot EUR/GBP £1 1.41 1.41 1%
Spot GBP/USD €1 1.58 1.58 1%


See full forex costs and details

Commodities

Market name

Value of one contract

Spread

Margin per contract

Spot Gold $100 0.3 0.7%

Spot Silver

$50 2 1.5%
US Light Crude $10 4 $650
Brent Crude $10 6 $750

 

See full commodities costs and details

 

Funding and interest

Cash CFDs

If you keep a Cash CFD position open overnight (after 10pm UK time) we will make an interest adjustment to your account, to reflect the cost of funding your position. The interest adjustment is based on 1-month interbank funding rates (eg. LIBOR). We debit your account if your position is long, and credit your account for a short position – if the interbank funding rate is greater than 2.5%.*

For nearly all our markets, this is calculated in the same way. For forex, the funding cost is calculated differently. See the table below.

Cash CFDs

Long positions

Short positions

Forex positions

We charge 2.5%* above the relevant interbank rate.
 
Eg. If the relevant interbank 1-month rate is 0.5%, you would be charged 3.00% (annualised).
You receive the relevant interbank rate, minus 2.5%*.
 
If the interbank rate is greater than 2.5%,* we credit your account; if the interbank rate is less than 2.5%,* your account is debited.
 
Eg. If the relevant interbank 1-month rate is 0.5%, you would be charged 2.00% (annualised).
For forex positions, we charge funding based on the current tom-next rate. 
 
Tom-next shows, in pips, the difference between the interest paid to borrow the currency that is being notionally sold, and the interest received from holding the currency.

*3% on mini and micro CFD contracts

How is funding calculated?

Futures and forwards

For fixed-expiry trades on stock indices and commodities we offer futures for CFDs. We build the overnight funding charges into the spread, so that everything is included, for futures and forwards. This makes it easier to identify your break-even level on your trades.

Non-share markets

Stock index

Futures spread

Forex pair

Forward spread

Commodity

Futures spread

FTSE 100 4 EUR/USD 10 Spot gold 0.6
Wall Street 6 GBP/USD 9 Spot silver 3
Germany 30 6 AUD/USD 10 Light Cruide oil 6
More indices More forex pairs More commodities

 

Cash vs Future example

 

Interest earned on your cash

We place the full balance of individuals' funds into segregated bank accounts. In South Africa, these segregated bank accounts earn interest at a rate determined by the bank. Your money be paid out using the reference rate SABOR less 2%. We are keeping the difference between these two rates as an administrative charge. Each of these rates will be fully disclosed in your month end statement.

Interest will be calculated on the cash balance, which is the cash ledger balance plus unrealised profits less unrealised losses. Balances in currencies other than South African Rands will not attract credit interest.

 

Understanding margin

Margin trading gives you full exposure to a market using only a fraction of the capital you’d normally need. It is the amount of money you need to open a position, defined by the margin rate.

Margin with IG

At IG, our margins are among the lowest in the industry. We can offer even lower rates for the majority of positions thanks to our tiered margin system.

Find out more about margin with IG

Charges and funding FAQs

What are your trading hours?

Our offices are normally open 24 hours a day between 11pm on Sunday (9pm for forex) and 10.15pm on Friday night (London time). 

Trading hours vary between markets, but standard UK market hours are 08.00-16.30 (London time). 

How does overnight funding work?

When you trade 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, this funding fee is the relevant interbank rate for your traded currency, plus or minus our small admin fee, depending on if your position is long or short.

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

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

Are charges fixed or do they vary? 

Spreads

Share CFDs directly reflect the underlying market price, and are subject to commission.

Our forex spreads vary depending on underlying market liquidity. The more liquid the market, the narrower our spread – as low as 0.6 pips. 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 trading, we offer a wider spread.

Commission

Our commission varies depending on the host country for your stock. All SA and UK shares are subject to a flat 0.20% and 0.10% commission respectively, while all US stocks are subject to a commission of 2 cents per share, for example. See our contract 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.

Is there a currency converison 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 0.3%.

Do you offer guaranteed stops?

There is a small, one-off fee when you choose to attach a guaranteed stop. For shares, for example, this is 1% of the underlying transaction value.

What are interbank and tom-next rates?

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. 

What is the spread?

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

Extra services and charges

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, though in order to access live DMA prices for some shares you’ll need to pay a monthly exchange fee. 
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 sevice if your qualifying trades are of an extremely low value.
Inactivity fee We charge a R150 fee on the first of every month, if no trading activity has occurred for two years or more. 
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.

 

Open an account now

It's free to open an account, takes less than five minutes, and there's no obligation to fund or trade.

Shares funding

Shares funding

Size for CFDs means number of shares.

Closing price means underlying market price at 10pm (UK time).

If your trade is in Rands

Size x closing price x SABOR +/- 2.5% ÷ 365

If your trade is in GBP

Size × closing price × LIBOR +/- 2.5% ÷ 365

Based on LIBOR one month overnight rate

If your trade is in USD

Size × closing price × US LIBOR +/–2.5% ÷ 360   

If your trade is in EUR

Size × closing price × EURIBOR +/–2.5% ÷ 360   

The formula uses a 365-day divisor for UK, Singapore and South African shares, and a 360-day divisor for shares in other markets.

 

FX and spot metals funding

FX and spot metals funding

A tom-next rather than an interbank rate is used in the calculation of funding costs for forex and spot metals.

Tom-next is the day’s market swap rate for that pair or metal.

Example tom-next rate: -1.39/-0.39.

-0.39 would be used to calculate the funding cost on a long position.

-1.39 would be used to calculate the funding cost on a short position.

Size x (tom-next rate + admin fee) 

CFD

Size means total value of lots (number of lots x value per lot)

Tom-next is the day’s market swap rate for that pair or metal

Admin fee is no more than 0.3% per annum (0.8% for mini contracts)

Three-day funding is charged on a Wednesday. 

Other markets

Other markets

Size for CFDs means total contract value (number of contracts x value per contract).

Closing price means underlying market price at 10pm (UK time).

If your trade is in Rands

Size x closing price x SABOR +/- 2.5% ÷ 365

If your trade is in GBP

Size × closing price × LIBOR +/- 2.5% ÷ 365 Based on LIBOR one month overnight rate

If your trade is in USD

Size × closing price × US LIBOR +/–2.5% ÷ 360

If your trade is in EUR

Size × closing price × EURIBOR +/–2.5% ÷ 360

Please note: when trading a non-standard GBP-denominated index CFD, or a mini contract on any asset class, the funding rate is +/-3% rather than +/-2.5%

South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment  allowance and may not use credit or debit cards to fund their international account.

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Contact us

We're here 24hrs a day from 9am Sunday to 11pm Friday,
and 10am to 6pm Saturday.

010 344 0053

You can also email helpdesk.za@ig.com