At IG Markets, we are occasionally asked about any charges clients may incur. As a business, we make our money in the following ways:
Fees
The commission for Singapore share CFDs is just 0.1%, and for other major world shares starts from 0.1%.
The minimum commission charge for Singapore shares is $15; for US shares it is $15; €10 for European; and £10 for UK shares.
A special minimum online commission charge, starting at just $3 for Singapore share CFDs, is available to clients for the six weeks of our free TradeSense educational programme.
Financing
Daily financing, at a low rate of one-month SIBOR +/- 2.5%, applies to all share CFDs and cash index trades.
Interest is debited for long CFD trades and either credited or debited for short CFD trades. The total interest you pay or receive depends on the size of your trade, the current interbank offered rate of the currency in which you are dealing, and the length of time for which you have held the position.
For forex positions held overnight, clients pay or receive funding based on the current Tom/Next rate. Tom/Next expresses in pips the difference between the interest paid to borrow the currency that is being notionally sold overnight, and the interest received from holding the currency that is being notionally bought overnight. An administrative charge of up to 0.3% per annum applies on either side of the current Tom/Next spread.
Currency conversion
If you have opted for daily currency conversion, any multi-currency balances in your account will automatically be converted to your base currency at the end of each trading day. Conversions are normally made at a rate not worse than 0.3% from the mid-price.
No administration charges
We do not levy administration charges such as margin call fees, tax statement fees, audit fees for disputes or platform fees.
Fees passed on
- We make no charge for Telegraphic Transfers
- We will refund the fee charged for live streaming exchange data feeds if you conduct at least one trade on PureDeal - or two on L2 - per month on most exchanges. We do not charge for delayed data.
- If you choose to receive your statements electronically, there is no charge, but if you wish to receive paper statements, you will incur a small administrative fee of SGD3 per statement.
- We pass on the card provider's charge of 2.1% per transaction when you fund your account by debit or credit card.
Advanced Charts
Our Advanced Charts package is free to active clients (those who make a minimum of four transactions a month).
We make a standard charge of $60 a month for this service, but clients who place at least four trades a month have this money rebated automatically to their account. Clients who activate Advanced Charts but fail to trade at this level are charged $60 a month.
For basic charting needs, our Charts are always available for free to all clients. For information about activating Advanced Charts, please visit the 'My Account' section of PureDeal.