We commonly get asked how we make our money at IG Markets; are there any hidden costs when dealing with us? Quite simply, as a business we make our money in the following ways:
Transaction fees - commission/spread
IG Markets either quotes a commission charge (for equity products) or a spread charge (difference between a buy and sell price).
Funding fees
When long positions are held overnight IG Markets will charge a funding fee for the value of the position, or if a position is held in a fixed expiry future contract this funding charge is built into the price of the product.
Currency transfer fees
A charge of 0.3% is levied when cash balances are converted between currencies.
No hidden charges
There are no administration charges such as margin call fees, tax statements fees, duplicate statements, audit fees for disputes or platform fees.
Fees passed on
Charges that are passed on to clients:
- Administration fees on fund transfers from MasterCard and Visa credit cards, and Visa debit cards. There is no fee applied on transfers from debit MasterCard cards
- Telegraphic transfers $15
- Exchange fees are levied if a client opts to receive live streaming data from ASX. Exchange fees are waived if at least 4 trades are transacted in a given month on ASX shares - there is no charge for delayed data.
- Where increased borrowing fees are applicable in the underlying market, short share CFD positions may incur an additional ‘borrowing charge’ (quoted in the form of an annual interest rate and posted daily). This generally affects less than 10 percent of stocks, normally small cap. To determine whether a borrowing charge applies, please call our dealers in advance of trading.
- Charting fees will be charged if a client opts get access to our pro-level charting package. This fee will be waived if at least four trades are transacted in a given month.