Share CFDs: Contract Details
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.
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Share CFDs are normally available on around 1000 Australian shares, plus constituents of the FTSE 350 Index, S&P 500 Index, NASDAQ 100 Index, Straits Times, JSE 40, Hang Seng, TSE 60 and most major European indices. We also offer CFDs on a selection of IOB Depository Receipts. For full information on the shares we cover please see the list below:
PDFs require Adobe Reader, which is available free from Adobe.
This list is also available as a CSV file (342KB).
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Deals are transacted at the market bid/offer of the underlying share on the relevant stock exchange.
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Commission charges for Share CFDs are calculated as a percentage of the transaction value for most markets and as cents per shares for US, Canadian and IOB shares.
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Clients may 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:
Standard Schedule
Country Commission per side Minimum charge (online) Minimum charge (phone) Australia 0.10% A$8 A$8 UK 0.10% £10 £15 US 2 cents/share $15 $25 Euro 0.10% E10 E25 Denmark 0.10% DKK100 DKK250 Norway 0.10% NOK100 NOK250 Sweden 0.10% SEK100 SEK250 Switzerland 0.10% CHF10 CHF25 Greece 0.75% E25 E40 Singapore* 0.20% SGD25 SGD25 Japan 0.20% JPY1500 JPY2500 Hong Kong 0.30% HKD25 HKD25 South Africa 0.30% ZAR200 ZAR300 Canada 3 cents/share CAD25 CAD25 IOB Shares 4 cents/share $15 $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$25. These are:
- Datacraft Asia
- Dairyfarm International
- Hong Kong Land Holdings
- Jardine Matheson
- Jardine Strategic Holdings
- Mandarin Oriental International Ltd
- Star Cruises Ltd
- Total Access Communications
- Want Want Holdings Ltd
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Limited Risk transactions are available on certain shares at our discretion.
The Limited Risk premium for each individual share is given in our Share CFDs List (PDF; 2.0MB) (including Australian and other world shares). Each share's volatility is classified as either low, medium or high and this determines how much premium is charged for a Limited Risk transaction (low: 0.3%; medium: 0.7%; high: 1.0%).
The Limited Risk premium for South African and IOB shares is 1.0%. For all other shares the premium for a Limited Risk transaction is normally 0.3% or 0.7% (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.
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The Margin Percentage for any particular CFD is calculated as a percentage of the opening value of the current valuation of the transaction. Please see the Share CFDs List (PDF; 2.0MB) for Margin Percentages of specific shares.
The Margin Percentage for the constituents of major indices is 10%, while the top 20 UK shares by market capitalisation are margined at 10%. The Margin Percentage for all other shares will be 10% or higher according to volatility and market conditions.
The Margin Percentage for a Limited Risk CFD transaction is equal to the amount which would be lost if the Stop were triggered.
We reserve the right to alter the Margin Percentage at any time.
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There is no minimum opening contract value for CFDs on individual shares.
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Dealing hours are as follows:
Australian Shares: 10.00-16.00 (Australian Eastern Standard time)*
UK Shares: 08.00-16.30 (London time)
American and Canadian Shares: 09.30-16.00 (New York time)
Singapore Shares: 09.00-12.30 and 14.00-17.00 (Singapore time)
European Shares: Market hours for the relevant Exchange. Please ask for current details
*It may sometimes not be possible to quote a particular share before 10.09 -
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
Where:
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 Australian, US and European shares and a 365-day divisor for UK, Singapore and South African shares.
Interest in respect of long positions is 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 (Australian or otherwise) varies depending on local tax arrangements - please ask our dealers for current details. -
For CFDs, 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. For Share CFDs in a company which is under offer in a takeover situation, IG will not communicate any wish to subscribe to the takeover offer (i.e. 'assent stock'), where available, unless otherwise instructed to do so.
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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 the charge onto you with no mark up. 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.
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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 PureDeal platform.
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ASX Data Fees
If you want to trade individual shares online we will deliver these price feeds to you in accordance with the following scale of charges:
ASX Data Fees
Client User Type Trades Per Month Cost Per Month Professional 4 or more Nil Less than 4 $45.00 Non-professional 4 or more Nil Less than 4 $37.50 Fees will be charged to your account for each calendar month in which you trade ASX shares less than four times. Opening and closing trades both count towards this total.
We reserve the right to remove your access to ASX prices if you do not have sufficient funds in your account to cover the data fees, and/or that your account may be left with a debit balance as a result of ongoing data fees.
You can trade stock indices and our other instruments online without this access.
Alternatively, we offer a 'delayed data' service, which provides you with a delayed price stream free of charge. The delayed data service provides a real-time quote on request.