CFD product details

Contracts for difference let you trade forex based on prices derived from the underlying market. Trade CFDs on over 90 currency pairs – including major, exotic and emerging markets – with spreads starting from just 0.6 pips. 

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Spreads vary depending on the volatility of the underlying market. We quote our minimum spread whenever possible, when the market is narrow. At other times you’ll generally find our average spread applies.

Major pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Guaranteed stop premium [4] Retail margin required [5] Professional margin required [8]
Standard Mini
Spot FX EUR/CHF CHF10 CHF1 2 2.30 n/a 3.33% 1.35%
Spot FX EUR/GBP £10 £1 0.9 1.17 2 3.33% 0.9%
Spot FX EUR/JPY Y1000 Y100 1.5 1.96 1.5 3.33% 0.45%
Spot FX EUR/USD $10 $1 0.6 0.75 1.2 3.33% 0.45%
Spot FX GBP/EUR €10 €1 2 2.60 1.5 3.33% 0.9%
Spot FX GBP/JPY Y1000 Y100 2.5 3.04 2 3.33% 0.9%
Spot FX GBP/USD $10 $1 0.9 1.34 2 3.33% 0.9%
Spot FX USD/CAD C$10 C$1 1.7 2.50 1.5 3.33% 0.45%
Spot FX USD/CHF CHF10 CHF1 1.5 2.04 2 3.33% 1.35%
Spot FX USD/JPY Y1000 Y100 0.7 0.86 1.5 3.33% 0.45%
Spot FX CAD/CHF CHF10 CHF1 2.5 3.16 2 3.33% 1.35%
Spot FX CAD/JPY Y1000 Y100 2.5 3.61 1.5 3.33% 0.68%
Spot FX CHF/JPY Y1000 Y100 2 2.76 3 3.33% 1.35%
Spot FX EUR/CAD C$10 C$1 3 4.25 6 3.33% 0.45%
Spot FX GBP/CAD C$10 C$1 3.5 4.74 7 3.33% 0.9%
Spot FX GBP/CHF CHF10 CHF1 3 3.98 4 3.33% 1.35%

Non-major pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Guaranteed stop premium [4] Retail margin required [5] Professional margin required [8]
Standard Mini
Spot FX AUD/USD $10 $1 0.6 0.75 0.8 5% 0.45%
Spot FX EUR/SGD SGD10 SGD1 5 6.19 8 5% 0.68%
Spot FX EUR/ZAR ZAR10 ZAR1 150 198.98 100 5% 2.25%
Spot FX GBP/SGD SGD10 SGD1 8 10.42 8 5% 0.9%
Spot FX GBP/ZAR ZAR10 ZAR1 200 256.98 150 5% 2.25%
Spot FX SGD/JPY Y1000 Y100 4 5.22 3 5% 0.9%
Spot FX USD/SGD SGD10 SGD1 3 3.55 2 5% 0.68%
Spot FX USD/ZAR ZAR10 ZAR1 90 128.75 200 5% 2.25%

 

Australasian pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Guaranteed stop premium [4] Retail margin required [5] Professional margin required [8]
Standard Mini
Spot FX AUD/CAD C$10 C$1 2 2.78 2 5% 0.45%
Spot FX AUD/CHF CHF10 CHF1 2.5 2.95 2 5% 1.35%
Spot FX AUD/EUR EUR10 EUR1 1.5 2.83 3 5% 0.45%
Spot FX AUD/GBP £10 £1 1.5 2.94 2 5% 0.9%
Spot FX AUD/JPY Y1000 Y100 1.3 1.91 1.5 5% 0.45%
Spot FX AUD/NZD NZD10 NZD1 3 3.18 5 5% 0.68%
Spot FX AUD/SGD SGD10 SGD1 5 6.84 4 5% 0.9%
Spot FX EUR/AUD AUD10 AUD1 1.8 2.61 4 5% 0.45%
Spot FX EUR/NZD NZD10 NZD1 3 4.02 7 5% 0.68%
Spot FX GBP/AUD AUD10 AUD1 1.9 4.64 5 5% 0.9%
Spot FX GBP/NZD NZD10 NZD1 5 6.87 20 5% 0.9%
Spot FX NZD/CHF CHF10 CHF1 4 5.60 3 5% 1.35%
Spot FX NZD/EUR EUR10 EUR1 1.5 1.99 3 5% 0.68%
Spot FX NZD/GBP £10 £1 2 3.01 2 5% 0.9%
Spot FX NZD/JPY Y1000 Y100 2.5 3.21 3 5% 0.68%
Spot FX NZD/USD $10 $1 2 2.13 2 5% 0.68%
Spot FX NZD/CAD C$10 C$1 3.5 5.10 2 5% 0.68%

Scandanavian pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Guaranteed stop premium [4] Retail margin required [5] Professional margin required [8]
Standard Mini
Spot FX CAD/NOK NOK10 NOK1 25 65.94 80 5% 0.9%
Spot FX CHF/NOK NOK10 NOK1 40 55.77 60 5% 1.35%
Spot FX EUR/DKK DKK10 DKK1 10 14.40 200 5% 4.5%
Spot FX EUR/NOK NOK10 NOK1 25 34.27 40 5% 0.9%
Spot FX EUR/SEK SEK10 SEK1 30 37.76 40 5% 0.9%
Spot FX GBP/DKK DKK10 DKK1 30 45.36 45 5% 4.5%
Spot FX GBP/NOK NOK10 NOK1 50 76.70 60 5% 0.9%
Spot FX GBP/SEK SEK10 SEK1 50 78.55 100 5% 0.9%
Spot FX NOK/SEK SEK10 SEK1 6 12.07 12 5% 0.9%
Spot FX USD/DKK DKK10 DKK1 15 19.80 20 5% 4.5%
Spot FX USD/NOK NOK10 NOK1 25 35.20 40 5% 0.9%
Spot FX USD/SEK SEK10 SEK1 25 32.73 60 5% 0.9%

Exotic pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Guaranteed stop premium [4] Retail margin required [5] Professional margin required [8]
Standard Mini
Spot FX CHF/HUF HUF1000 HUF100 25 39.40 50 5% 1.8%
Spot FX EUR/CZK CZK100 CZK10 25 28.04 50

5%

4.5%

Spot FX EUR/HUF HUF1000 HUF100 20 42.09 50 5% 1.8%
Spot FX EUR/ILS ILS10 ILS1 40 83.28 80 5% 1.8%
Spot FX EUR/MXN MXN10 MXN1 90 186.97 200 5% 2.25%
Spot FX EUR/PLN PLN10 PLN1 25 45.41 60 5% 1.35%
Spot FX EUR/TRY TRY10 TRY1 15 29.44 15 5% 2.25%
Spot FX GBP/CZK CZK100 CZK10 30 34.49 50 5% 4.5%
Spot FX GBP/HUF HUF1000 HUF100 25 42.33 50 5% 1.8%
Spot FX GBP/ILS ILS10 ILS1 50 103.49 150 5% 1.8%
Spot FX GBP/MXN MXN10 MXN1 130 211.85 100 5% 2.25%
Spot FX GBP/PLN PLN10 PLN1 30 50.93 40 5% 1.35%
Spot FX GBP/TRY TRY10 TRY1 20 37.70 20 5% 2.25%
Spot FX MXN/JPY JPY1000 JPY100 0.6 0.84 1.5 5% 2.25%
Spot FX NOK/JPY JPY1000 JPY100 0.8 1.22 1 5% 0.9%
Spot FX PLN/JPY JPY1000 JPY100 2 2.82 3 5% 1.35%
Spot FX SEK/JPY JPY1000 JPY100 0.6 1.23 1 5% 0.9%
Spot FX TRY/JPY JPY1000 JPY100 5 6.91 8 5% 2.25%
Spot FX USD/CZK CZK100 CZK10 25 26.91 50 5% 4.5%
Spot FX USD/HUF HUF1000 HUF100 20 41.31 50 5% 1.8%
Spot FX USD/ILS ILS10 ILS1 30 76.43 80 5% 1.8%
Spot FX USD/MXN MXN10 MXN1 50 80.50 60 5% 2.25%
Spot FX USD/PLN PLN10 PLN1 25 33.51 40 5% 1.35%
Spot FX USD/TRY TRY10 TRY1 12 23.87 10 5% 2.25%

Emerging pairs

Currency pair [1] Value per point [2] Minimum spread Average spread* Retail margin required [5] Professional margin required [5] Dealing hours
Standard Mini
Spot FX AUD/CNH CNH10 CNH1 20 25.17 5% 2.25% 24 hours
Spot FX CNH/JPY ¥1000 ¥100 0.8 1.74 5% 2.25% 24 hours
Spot FX EUR/CNH CNH10 CNH1 30 44.50 5% 2.25% 24 hours
Spot FX EUR/RUB RUB10 RUB1 2000 2663.78 5% 4.5% 24 hours
Spot FX USD/CNH CNH10 CNH1 10 15.46 5% 2.25% 07.00-17.00
Spot FX USD/RUB RUB10 RUB1 1600 2452.15 5% 4.5% 24 hours
EMFX GBP/INR £10 £1 35 37.35 5% 4.5% 24 hours
EMFX USD/BRL ($10 contract) $10 $1 30 40.98 5% 4.5% 24 hours
EMFX USD/INR ($10 contract) $10 $1 20 21.22 5% 4.5% 07.00-17.00
EMFX USD/IDR ($10 contract) $10 $1 80 106.64 5% 4.5% 13.05-22.00
EMFX USD/KRW ($10 contract) $10 $1 100 175.14 5% 4.5% 01.30-21.00
EMFX USD/MYR ($10 contract) $10 $1 100 150.23 5% 4.5% 13.05-22.00
EMFX USD/PHP ($10 contract) $10 $1 15 19.37 5% 4.5% 04.30-21.00
EMFX USD/TWD ($10 contract) $10 $1 80 147.13 5% 4.5% 01.30-21.00
NZD/CNH CNH10 CNH1 15 23.01 5% 2.25% 01.00-21.00
Spot FX GBP/CNH CNH10 CNH1 35 39.12 5% 2.25% 01.30-21.00
Spot FX CAD/CNH CNH10 CNH1 15 19.88 5% 2.25% 01.30-21.00

Cryptocurrency pairs

 
Currency pair  Dealing hours One point means Minimum spread Guaranteed stop premium [4] Retail margin required [5] Professional margin required [8]
Spot FX Bitcoin/USD 24 hours * $1 70 20 50% 13.5%
Spot FX Bitcoin Cash/USD 24 hours * $1 12 15 50% 22.5%
Spot FX Bitcoin Gold/USD 24 hours * $1 4 3 50% 36%
Spot FX Ether/USD 24 hours * $1 8 4 50% 13.5%
Spot FX Ripple/USD 24 hours * $0.01 1 1 50% 22.5%
Spot FX Litecoin/USD 24 hours * $1 1.5 3 50% 22.5%

* Bitcoin markets close at 10pm on Friday night (UK time), then reopen on Saturday at 4am (UK time).

Please note that in times of high volatility, our minimum spreads can increase significantly.

Overnight funding charges

Our annualised overnight funding rate is currently 0.034% for bitcoin (12.5% per annum), and 0.055% for all other cryptocurrency markets (20% per annum). At present, clients with a long position will pay this overnight funding rate, while clients with a short position will receive on the overnight funding rate. In addition, a 7.5% per-annum IG admin fee will also apply.

What will this mean for my positions?

  • If you are long bitcoin, you will pay an overnight funding charge of 0.0548% a day (20% per-annum) for any position that is open at 10pm (UK time)
  • If you are short bitcoin, you will receive an overnight funding adjustment of 0.0136% a day (5% per-annum) for any position that is open at 10pm (UK time)

Holding a position in our other cryptocurrency pairs would result in you paying an overnight funding charge of 0.0764% when long (27.5% per annum), and receiving an adjustment of 0.0347% when short (20% per annum)

We will review our overnight funding charges frequently, and update our website and contract details with the latest rates.
Please note that for any position opened before 10pm (London time) Wednesday that is still open after 10pm (London time) Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period. Adjustments will also be made in advance of Christmas and New Year holidays.

Overnight funding for long bitcoin position  Overnight funding for short bitcoin position 

Long 2 lots on Bitcoin USD ($1), which is currently trading at a price of 15000.

( 2 x 15000 ) x 0.0548% = $16.44

Client will be charged $16.44 per day.

Short 2 lots on Bitcoin USD ($1), which is currently trading at a price of 15000.

( 2 x 15000 ) x 0.0136% = $4.08

Client will receive $4.08 per day.

Why can I sometimes not trade bitcoin?

Given the high demand and price increases, we may restrict any new orders to buy or sell cryptocurrency, both online and over the telephone.

As we hedge client exposure in the underlying market, our interests are aligned with yours. However, due to the various risks and complexity involved in trading underlying cryptocurrencies, there's a limit to the total amount of physical cryptocurrency we can hold as a business. We therefore need to reflect this by limiting the exposure that each client is allowed to maintain through CFDs and spread bets. This limit is currently £250,000 notional (or equivalent) per client across all cryptocurrency holdings. Any client with a notional size above this limit is at risk of having their cryptocurrency positions reduced.

Sometimes our platform won't allow you to open a new long position on bitcoin. This happens when we reach our maximum exposure in the market. You'll be able to open a position when our trading volume changes. 

Please note this should not affect your ability to close any existing open positions, provided this does not increase or create net long exposure.

You can check whether or not our bitcoin markets are 'unlongable' in the platform. In IG Trading, click the 'information' icon in the deal ticket, then select 'other'. In the classic platform, click on your market's dropdown and select 'get info'. Please refresh your browser for the latest updates.

IG policy on blockchain forks

We base the price of our cryptocurrency products on the underlying market, made available to us by the exchanges and market-makers with which we trade.

There is currently one accepted decentralised ledger which records all bitcoin transactions – as well as an equivalent for ether – called the blockchain. When the software of different miners becomes misaligned, a split – or 'fork' – in the blockchain may occur. This results in the existence of two different blockchains. 

Generally, cryptocurrency users quickly agree which version to continue to use, causing minimal disruption. The old version of the blockchain is then discontinued.

In the event that one version isn't discontinued – known as a hard fork – we will generally follow the blockchain that has the majority consensus of cryptocurrency users, and will therefore use this as the basis for our prices. We reserve the right to determine which blockchain and cryptocurrency unit have the majority consensus behind them. 

If the hard fork results in a viable second cryptocurrency, we may create an equivalent position on client accounts to reflect this. However this action is at our absolute discretion, and we will have no obligation to do so. If, and when, the second cryptocurrency is tradeable on a major exchange, we will endeavour to represent that value. We’ll do this either by making the product available to close based on the valuation on that venue, or by booking a cash adjustment on client accounts.  If, within a reasonable timeframe, the second currency does not become tradeable on major exchanges or is otherwise deemed not to be viable as a currency (for example, it is not mined), we may delete any positions that had previously been created at no value on client accounts. We will take steps to notify you when we have taken this action.

When a hard fork occurs, there may be substantial price volatility around the event, and we may suspend trading throughout if we do not have reliable prices from the underlying market.

We will endeavour to notify you of potential blockchain forks, however it is your responsibility to make yourself aware of the forks that could occur.

Notes to tables

The following notes apply to all of the preceding forex tables, wherever the corresponding number is found.

1. Normal dealing hours for all pairs are from 21.00 (London time) on Sunday until 22.00 (London time) on Friday, with the exception of emerging-market pairs, which operate on different schedules. All dealing times listed are London times. Please note that Daylight Savings Time in the UK or the country of origin may cause the times shown to be imprecise.

2. Spreads are subject to variation, especially in volatile market conditions. Our quotations are derived from quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We monitor the liquidity available in the underlying market, offering our minimum spread when the market spread is particularly small. In most other conditions, our typical spread applies. If spreads move wider in the underlying market, we may match this. We do not apply any weighting or biases to our pricing sources.

3. For guaranteed stop bets a guaranteed stop premium is charged 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.

4. Margin requirements represent a percentage of the overall position value. You can find the tiered margins from the Get Info dropdown section within each market in our trading platform. Please note that higher margins may be required for large positions. Please see our tiered margining page for more details.

5. When forward forex bets are rolled over, the initial bet is closed at the mid-price for the contract month, plus or minus half of our normal spread. The new bet is then opened at the mid-price of our current quote for the next contract month. If the initial bet was controlled risk, the full controlled risk premium is either added to the offer price or subtracted from the bid price depending on the direction of the bet.

6. Each day your DFB bet remains open, we make a cash adjustment to your account to reflect the funding costs of your bet. The funding adjustment is based on the tom-next spread for the currency pair (excluding bitcoin) involved including an admin fee of 0.0022% per day. Note: For any position opened before 22.00 Wednesday that is still open after 22.00 Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period. This will not always apply to emerging-market pairs. Emerging pairs are priced using one-month pricing, so the funding charge for these will depend on the three-day adjustment that is made in the underlying market.

7. Forward spread is added to the current spot spread for each pair to produce our forward prices. This means that dealing spreads available will be variable, depending upon market conditions.

8. Bitcoin funding will be 0.0438% daily for short positions and 0.0274% for long positions.

9. Professional clients are exempt from regulatory limits on leverage in place for retail clients, and are able to trade on lower margins as a result. You can find out more, and check your eligibility, on our professional trading page.

 

Notes to tables

Our foreign exchange transactions are a special form of cash-settled CFD that provide exposure to changes in exchange rates, but cannot result in the delivery of the underlying currencies.

1. Normal dealing hours for all pairs are from 21.00 (London time) on Sunday until 22.00 (London time) on Friday, with the exception of emerging-market pairs, which operate on different schedules. All dealing times listed are London times. Please note that Daylight Savings Time in the UK or the country of origin may cause the times shown to be imprecise.

2. The minimum transaction size is one contract. Transactions above this minimum size, can be in fractions of a contract.

3. Spreads are subject to variation, especially in volatile market conditions. Our quotations are derived from quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We monitor the liquidity available in the underlying market, offering our minimum spread when the market spread is particularly small. In most other conditions, our typical spread applies. If spreads move wider in the underlying market, we may match this. We do not apply any weighting or biases to our pricing sources.

4. For guaranteed stop trades a guaranteed stop premium is charged 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.

5. Margin requirements represent a percentage of the overall position value. You can find the tiered margins from the Get Info dropdown section within each market in our trading platform. Please note that higher margins may be required for large positions. Please see our tiered margining page for more details.

6. When you trade in a currency other than your default currency, your profit or loss will be realised in that currency. As standard practice, we will then immediately convert this back to your default currency. You can change this at any time via the trading platform.

7. For foreign exchange transactions (excluding bitcoin), adjustments are made to calculate the cost of funding a position, and these are posted to your account daily. The adjustments are calculated as follows: A = V x R Where:

A = the funding cost

V = the number of contracts x contract size

R = the current tom-next rate, including an administrative charge not exceeding 0.3% (0.8% for mini contracts) per annum. If the tom-next rate is less than zero, you will be debited for running a short position and credited for running a long position. If the tom-next rate is greater than zero, you will be credited for running a short position and debited for running a long position. The funding charge is calculated for any position opened before 22.00 that is still open after 22.00 (London time). Note: For any position opened before 22.00 Wednesday that is still open after 22.00 Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period. This will not always apply to emerging-market pairs. Emerging pairs are priced using one-month pricing, so the funding charge for these will depend on the three-day adjustment that is made in the underlying market. 8. On FX markets where a commission is charged we will not charge additional commission unless we notify you in writing. 9. Bitcoin funding will be 0.0438% daily for short positions and 0.0274% for long positions.

8. Professional clients are exempt from regulatory limits on leverage in place for retail clients, and are able to trade on lower margins as a result. You can find out more, and check your eligibility, on our professional trading page.

* Average spread (Monday 00:00 - Friday 22:00 GMT) for the twelve weeks ending 26 June 2017.