When trading our Share CFDs you deal at the real market price.
Our Share CFDs give a client exposure to changes in share prices but cannot result in delivery of actual shares by or to the client.
Share CFDs are normally available on constituents of the Straits Times Index as well as other leading shares from Singapore. We also offer CFDs on constituents of the FTSE® 350 Index, S&P 500 Index, NASDAQ 100 Index, most major European indices and around 700 leading Australian stocks - including the constituents of the ASX/S&P 300. For full information on the shares we cover please see the list below:
Note: For Singapore clients a minimum margin rate of 10% applies to all Share CFDs, due to Singapore legal restrictions.
Deals are transacted at the market bid/offer of the underlying share on the relevant stock exchange.
Commission charges for CFDs are calculated as a percentage of the transaction value for most markets and as cents per shares for US, Canadian and IOB shares. Please note that if the size of your deal is such that it attracts our minimum charge on opening, you will be required to also pay minimum charge for that deal on closing even if you close the deal in a bundle with other deals where the aggregate size is above our minimum size. Where we offer a CFD on an equity that is dual-listed and fully fungible for settlement on both exchanges then the commission charges applicable to that CFD will be the charges relevant to the country where primary listing is held.
Clients will be informed in writing of the commission rates and financing rates which apply to their account at the time the account is opened. In the absence of such information from us, commission on individual shares is charged according to the standard schedule below:
Country Commission per side Minimum charge (online) Minimum charge (phone) Singapore 0.10% $15* $15* US 2 cents/share US$15 US$25 UK 0.10% £10 £15 Euro 0.10% €10 €35 Denmark 0.10% DKK100 DKK250 Sweden 0.10% SEK100 SEK250 Switzerland 0.10% CHF10 CHF25 Australia 0.10% A$8 A$8 Japan 0.20% JPY1500 JPY2500 Hong Kong 0.25% HKD100 HKD100 Canada 3 cents/share CAD25 CAD25 IOB shares 0.15% US$15 US$25
'Per side' means that commission is charged upon opening and closing the CFD.
Euro includes: Austria, Belgium, Eire, Finland, France, Germany, Italy, Netherlands, Portugal, Spain. IOB Shares are Depository Receipts that trade on the International Order Book on London Stock Exchange
* Nine Singapore shares are denominated in US dollars and have a minimum ticket of US$15. These are:
- Chemoil Energy Ltd
- Dairyfarm International
- Genting Hong Kong
- Hong Kong Land Holdings
- Hutchison Point Trust Holdings
- Jardine Matheson Holdings Ltd
- Jardine Strategic Holdings Ltd
- Mandarin Oriental International Ltd
- Pacific Shipping Trust
Limited Risk transactions are available on certain shares at our discretion. The premium for a Limited Risk transaction is normally 0.3% or 0.7% of the transaction value.(Please note that the Limited Risk premium for all shares may be as much as 1.5% of the transaction value depending on market conditions and the volatility of the particular share.)
All the Limited Risk premium is charged when the transaction is opened.
The Margin Percentage for any particular CFD is calculated as a percentage of the current valuation of the transaction. Margin requirements for particular shares may widen according to volatility and market conditions. In normal conditions all shares are margined at 10% or higher. We reserve the right to alter the Margin Percentage at any time.
The margin required for a Limited Risk Stock Index transaction is equal to the amount that would be lost if the Stop were triggered, plus 10% of the amount at risk to cover interest and dividend adjustments.
We reserve the right to alter the Margin Percentage at any time.
There is no minimum opening contract value for CFDs on individual shares.
Dealing hours are as follows:
Singapore Shares: 09.00-17.00 (Singapore time)
Hong Kong Shares: 09.30-12.00 and 13.00-16.00 (Hong Kong time)
American Shares 09.30-16.00 (New York time)
UK Shares: 08.00-16.30 (London time)
Australian Shares: 10.00-16.00 (Australian Eastern Standard time)*
For CFDs on individual shares, adjustments to reflect the effect of interest and dividends are calculated daily and posted to the client's account daily.
i) A daily interest adjustment is calculated, as follows, for any position that is kept open through the official close of business:
D = n x C x i / 365
D = daily interest adjustment
n = number of shares
C = official closing share price
i = applicable annual interest rate
Note: The formula uses a 360-day divisor for US, Australian and European shares and a 365-day divisor for UK and Singapore shares.
Interest in respect of long positions is credited to or debited from a client's account and interest in respect of short positions is credited to a client's account at rates which are agreed with each client.
ii) A dividend adjustment is applied when a share passes its ex-dividend date (including the ex-date of any special dividend) in the underlying stock market. In the case of long positions, the dividend adjustment is credited to the client's account. In the case of short positions, the dividend adjustment is debited from the client's account. The dividend adjustment for shares (Singapore or otherwise) varies depending on local tax arrangements - please ask our dealers for current details.
A cash adjustment may be made to the client's account to reflect the effect of a bonus share issue, scrip or rights issue affecting the underlying share if a client has an open CFD position. For Share CFDs in a company which is under offer in a takeover situation, IG may not be able to communicate any wish to subscribe to the takeover offer (i.e. 'assent stock').
If you have an open Limited Risk share CFD position where the underlying share is subject to a rights issue or open offer and the subscription price is:
(a) in or at the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date, we will treat the rights issue or open offer as being successful and accordingly increase the size of your CFD position to reflect the effect of the rights issue or open offer or
(b) out of the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date, we will treat the rights issue or open offer as not being successful and accordingly leave your CFD position unchanged. This treatment will apply regardless of whether a rights issue or open offer becomes successful after being out of the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date or is not successful after being in or at the money at the closing price of the underlying share on the last trading day for that share immediately before the ex-date. Importantly, in both situations, we will alter the level of your stop such that the maximum amount you are risking under this open share CFD position remains the same before and after any adjustment is made for the rights issue or open offer.
Where you open a short share CFD position, you may incur a "borrowing charge" which will be subtracted from the relevant applicable annual interest rate. You will only incur a borrowing charge if we too incur such a charge when we open a hedging trade in respect of the same share in the underlying market; and we will pass that charge on to you (with a 0.5% admin fee). To determine whether a charge applies, call our dealers in advance of trading. The borrowing charge, and your ability to go short, can be changed at short notice.
- When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our trading platform.
CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial investment, so please ensure that you fully understand the risks involved.