The Complete Guide to IG Trading Fees

Opening

You, an active or prospective IG trader, need to know every cost that can eat into returns. This guide covers share dealing, CFDs, forex, futures, and platform charges. It breaks down fee types, gives concrete price examples, explains currency conversion and platform costs, and shows a step-by-step method to calculate your all-in trade cost. Read the TL;DR if you want a fast answer. Use the worked examples to model your trades. Watch out for: hidden FX and phone dealing fees before you fund your account.

Quick Answer / TL;DR

If you trade shares and use IG’s instant currency conversion, you can pay $0 commission on some accounts. Convert manually and you pay 2¢ per share with a $10 minimum on US stocks, or £10/€10 or 0.1% (Europe). If you trade CFDs or forex, expect spreads from about 0.55–0.91 pips on EUR/USD (account-dependent) or commission-based DMA with roughly $6 per 100k round-turn. If you hold overnight, factor in funding made of an admin fee plus an interbank or tom-next rate (examples: 0.5% admin conversion; 1.0% CFD conversion). If you use extras, ProRealTime costs about $30–$40/month (waived with 4+ trades/month). Live data and phone trades carry separate per-exchange or per-call fees.

Types of Fees — 6 key charges

List the main fee categories you will see on IG. Expect:
– Spread (the difference between buy and sell price): typical EUR/USD examples 0.55 pips (DMA) and 0.91 pips (standard).
– Commission: DMA/Forex Direct about $6 per 100k round-turn base.
– Currency conversion: examples 1.0% for CFD conversion or 0.5% admin on currency conversions.
– Overnight funding (swap/swap-like charge): admin fee plus interbank/tom-next component.
– Data / platform fees: ProRealTime ≈ $30–$40/month; live exchange data varies per venue.
– Non-trading charges: inactivity, phone-dealt trades, documentation, paper reports.

Explain why each matters in one line.
– Spread matters because it is an immediate cost per trade; 0.55–0.91 pips can change intraday P&L.
– Commission matters for large volume; $6 per 100k adds up on multiple 100k rounds.
– Conversion matters when trade currency differs; 1.0% or 0.5% can wipe tight margins.
– Overnight funding matters if you hold; small daily rates compound over weeks.
– Data/platform fees matter monthly; $30–$40 adds fixed overhead.
– Non-trading charges matter rarely but can be large; phone trades often cost $40–$50 per deal.

How to prioritize:
– Volume traders watch commission tiers and active-trader rebates.
– Casual traders watch per-trade minimums and spreads.
– Note two concrete thresholds: per-trade minimums often $10; ProRealTime waiver needs 4 trades/month.
Watch out for: small percentages that compound over many trades and invisible FX embedded in spreads.

Share Trading Fees — 3 concrete price models

IG offers two main share dealing currency modes: instant currency conversion (default) and manual conversion. Choose instant conversion and you may pay $0 commission where offered. Choose manual conversion and you typically pay 2¢ per share with a $10 minimum on US stocks. For many European markets, IG charges £10 or €10 per trade or 0.1%, whichever is higher.

Phone-dealt share trades cost more. Example phone fees by jurisdiction:
– Australia: $50 or 0.1% (includes GST).
– US: US$50 or 2¢ per share.
– UK: £40 or 0.1%.
– Germany/Ireland: €50 or 0.1%.

Other share-related costs to factor in:
– Stamp duty or transfer taxes vary by market; UK stamp duty can be ~0.5% on share purchases (example; check local rules).
– PTM levy or transaction levies apply on some exchanges; small fixed amounts or percentages.
– Live market data subscriptions vary by exchange; expect per-exchange monthly fees from single-digit to triple-digit amounts depending on venue.
– Additional services such as AGM attendance or paper reporting can cost around $150 per event or document.

Key takeaways:
– Instant conversion: $0 commission in qualifying accounts or regions.
– Manual conversion (US): 2¢ per share, $10 minimum.
– European trade minimum: £10/€10 or 0.1%, whichever higher.
– Phone trades: expect $40–$50 or 0.1% or per-share rates.
– Data and reports: budget $30–$150 for optional services.

Watch out for: choosing manual conversion for small US trades; 2¢/share with a $10 min can throw off micro-trades.

CFD and Forex Fees — spreads, commissions, and overnight funding

Define spread vs commission. Spread (the difference between buy and sell price) is charged on many CFD and standard forex accounts. Commission is charged on DMA/Forex Direct accounts in addition to the spread. Typical EUR/USD numbers:
– Standard CFD account: average spreads around 0.91 pips.
– Forex Direct / DMA: average spreads around 0.55 pips plus a commission roughly $6 per 100k round-turn.

Active-trader rebate schedule reduces commission as monthly volume rises. Example tier steps:
– $6 per 100k round-turn base.
– Drops to $3 once monthly volume exceeds $100 million.
– Drops to $2 over $500 million.
– Drops to $1 over $1.5 billion.
These are volume thresholds; consolidate volume to access lower per-100k fees.

Overnight funding (what it is and how IG charges it):
– For share and stock-index CFDs, funding equals an admin fee plus or minus the relevant interbank rate for the underlying currency.
– For forex and spot metals, funding is tom-next rate plus a small admin fee.
– For futures, funding is often built into the spread (no separate overnight funding).
Concrete example: an admin conversion fee of 0.5% was used in sample conversion math. CFD conversion charge example: 1.0% when the trade currency differs from your account base. Overnight funding on a position might show as a small fixed amount plus a basis adjustment that appears in running P&L.

Key points:
– Standard spreads start from ~0.6–0.9 pips on majors.
– DMA commission ≈ $6 per 100k round-turn before rebates.
– Overnight funding varies by instrument and can include 0.5% admin or 1.0% conversion examples.
– Use volume to reduce commission to as low as $1 per 100k.

Watch out for: assuming spreads alone are all cost — commission + overnight funding can flip the economics for frequent or held trades.

Currency Conversion & Payment Fees — 3 specific charges

Explain instant vs manual conversion again. Instant conversion (default) can mean $0 commission on certain share accounts. Manual conversion often costs 2¢ per share with $10 min on US stocks. Use base-currency instruments to avoid conversion costs where practical.

IG’s currency conversion and admin charges for deposits and trades:
– CFD currency conversion charge example: 1.0% fee when the trade currency differs from your account base.
– Admin conversion fee example: 0.5% applied to the conversion rate for commission and spread conversions.
– Conversion math example: a $150 commission converted at an adjusted rate after a 0.5% admin can change to about £113.31 in a worked example.

Payment method fees and thresholds:
– Card processor fees can be about 2.3% of the transaction amount (example).
– Deposits below £100 with non-UK debit cards may incur a £15 fee.
– PayPal, PayID, BPay and other providers can pass their own fees; check provider terms.

Watch out for: hidden FX inside spreads and double-charging when you convert exposures at trade open and again at trade close.

Non-trading & Platform Costs — data, ProRealTime, and inactivity

Live market data fees are billed per exchange. Derived live pricing may be complimentary but full depth or exchange-sourced feeds cost monthly fees. Expect data charges from single-digit totals to $100+ per exchange for professional feeds.

Platform-specific costs:
– ProRealTime charts typically cost about $30–$40 per month. This fee is often waived if you place 4 or more trades per month.
– Account documentation fees can apply for incomplete US tax documents; fixed fees may be charged for processing.
– Tax or legal paperwork such as paper statements or special reports can cost around $150 each.

Non-trading fees to monitor:
– Phone dealing commonly costs $40–$50 per trade (see share phone fees earlier).
– AGM attendance or paper report services: around $150 per service.
– Inactivity fees may apply if you leave an account dormant; threshold and amount vary by region. Check your account terms; inactivity thresholds often count months with zero trades.

Common non-trading costs to monitor:
– ProRealTime: $30–$40/month (waived with 4+ trades).
– Live exchange data: per-exchange monthly fees.
– Phone dealing: $40–$50 per call or trade.
– Paper reports: ~$150 per request.
– Small deposit fees: £15 for deposits under £100 with certain card types.

Watch out for: monthly overheads that eat into small accounts. Four trades per month can unlock a $30–$40 waiver.

Cost Examples & How to Calculate Total Cost — 4-step worked example

Purpose: model the true cost of one trade from open to close including conversion and overnight charges. Use explicit numbers.

Step 1 — Opening cost (spread + commission)
– Example position: 15 contracts or 15 lots equivalent.
– Market spread example: $0.03 per unit.
– Spread cost: $0.03 × 15 × 100 = $45.
– Commission example: IG commission math in sample: 2 × 15 × $5 = $150 (two-way commission, open and close at $5 each).
– Total immediate trading cost before conversion: $45 + $150 = $195.

Add conversion/admin fees to convert commission and spread into account currency:
– Admin conversion fee example: 0.5% added to FX.
– If conversion rate = 1.3305, adjusted rate after 0.5% admin might result in a converted commission example of £113.31 from the $150 commission.
– Converted market spread example: $45 converted to £33.99.
– Converted opening cost example: £113.31 + £33.99 = £147.30.

Step 2 — Holding costs / overnight funding
– Holding example: held 31 days.
– Price change basis: P1 = 4700, P2 = 4770 (difference 70 over 31 days).
– Mid price example: 4730.
– Notional example: £10 size per point in formula.
– Overnight adjustment example formula:
– Overnight adjustment = £10 × (((P2 – P1) / days) + (mid-price × 2.5% / 365)).
– Compute: ((70 / 31) ≈ 2.258) and (4730 × 2.5% / 365 ≈ 0.324).
– Overnight adjustment per day totals: £10 × (2.258 + 0.324) = £10 × 2.582 = £25.82.
– IG charge for holding overnight in example = £3.24 (the funding charge component shown separately). (Labelled example values.)

Step 3 — Closing costs
– Closing spread and commission mirror opening costs: another $45 spread and $150 commission in the example.
– Converted closing costs again use 0.5% admin conversion if applicable.
– Add opening converted cost, overnight funding, and closing converted cost to get total trade cost.
– Example totals: commission converted £113.31 + converted spread £33.99 = total £147.30 for the open/close example (this example used a single-side conversion; aggregate both sides for final number).

Step 4 — Tally and confirm
– Sum: opening converted cost + overnight funding + closing converted cost + any data or phone fees.
– Example final total (illustrative): £147.30 + £3.24 + similar closing converted costs = a full cost in excess of £150, depending on exact numbers.

Numbered checklist to calculate your own trades:
1. Note instrument spread (e.g., 0.55–0.91 pips) and commission per lot (e.g., $6 per 100k).
2. Add manual conversion or admin fees (0.5% admin or 1.0% CFD conversion as applicable).
3. Add overnight funding per day for days you hold (compute basis adjustment plus admin).
4. Add any platform or phone charges divided across trades if you want per-trade overhead.
5. Convert all amounts into your base currency using the adjusted FX rate and sum.

Watch out for: ignoring small per-day funding charges across weeks; they compound.

Risks, Pitfalls & 5 saving tips

Common pitfalls to avoid:
– Ignore FX costs at your peril; a 1.0% conversion fee can erase a tight spread advantage.
– Under-count spreads; 0.91 pips vs 0.55 pips changes outcomes on scaled positions.
– Use phone dealing and pay $40–$50 extra per trade unnecessarily.
– Let monthly data/platform fees eat small account returns.

Practical saving tips — act now:
– Use instant currency conversion when the $0 commission option is available.
– Trade electronically to avoid phone fees and save $40–$50 per trade.
– Place 4+ trades per month to waive ProRealTime $30–$40/month.
– Use base-currency instruments to avoid a 1.0% conversion fee on CFDs.
– Consolidate volume to reach active-trader tiers and reduce commission from $6 → $1 per 100k.

Red flags:
– Unexpected account or tax documentation fees.
– Small deposits triggering card fees (e.g., £15 for deposits < £100).
– Multiple small trades that hit per-trade minimums (e.g., $10 min on US manual conversion).

Comparison Table — 5 fee elements compared

Quick comparison of the main fee drivers so you can see how they differ by product and action.

Spreads and commissions drive per-trade cost; conversion and platform fees create recurring overhead — match your trading frequency to the pricing levers.

Closing — How to Choose / Bottom Line

If you place many large trades, choose DMA/Active-trader pricing. Reduce commission toward $1 per 100k and tighten spreads to ~0.55 pips. If you trade shares occasionally and hold positions, use instant currency conversion to get $0 commission where eligible or avoid the 2¢/share minimums on US stocks. If you trade short-term CFDs or forex, prioritize accounts and settings with low spreads (0.55–0.91 pips) and monitor overnight funding (small daily % or fixed amounts). If unsure, start with electronic trades only, skip phone dealing, monitor total cost per round-trip including conversion and platform fees, and scale to 4+ trades/month to unlock data/chart waivers.

Final checklist before you fund:
– Check your account base currency and map instruments to it.
– Confirm whether instant conversion is enabled or if manual conversion applies.
– Estimate spread + commission per round-turn (e.g., 0.91 pips + $6/100k).
– Add conversion/admin fees (0.5% or 1.0%) and monthly platform costs ($30–$40).
– Compare total all-in cost to alternative brokers using the checklists above.

Start small. Calculate one full trade as shown. Compare and pick the route that gives you the lowest true cost for your strategy.