Trading fees

[Ows]

Hi, sorry if these are silly question's but I'm new to IG and trading.

Can some one explain the trading fee discount after 3 trades? 

Does selling a share count as 1 trade or is it just buying a share? 

Does trading in a stocks and shares isa account count towards the 3 trades or do they have to be 3 trades in a share dealing account only? 

Assuming I've made 3 qualifying trades, I'll have to wait until 1st June to get the discount?

Thanks in advance 

[Ows]

@CharlotteIG

[Fletch]

You might find this thread useful

https://community.ig.com/forums/topic/9586-charges-fees-ig-clarification/?ct=1588854865

Generally, you are correct in that the dealing reduction is applied on a monthly basis. If you are not currently eligible for the reduction, then all dealing in the current month will be at the full commission, irrespective of how many trades you make. If you make three trades this month, then from the beginning of next month you will be eligible for the reduced rates. To maintain the reduction in fees you need to maintain the three trades a month. Selling a share counts as a trade in the same way as buying a share. Making three trades during a quarter will also mean that the quarterly charge is waived.

[Guest Ows]

Thank you @Fletch

So does trading in my stocks and shares isa also count or does it have to be a share dealing account? 

[Ows]

Thanks @Fletch

So does trading with my stocks and shares isa count towards my 3 trades or is it only a share dealing account? 

 

[Fletch]

I don't think it matters whether you deal in the ISA account or the share account - they both count (as far as I am aware). I only deal in my ISA account at the moment, and can verify that it counts towards the discount

[CharlotteIG]

Both share dealing and ISA trades count towards deducting the fee. 

All the best 

[robb9]

Am I right to understand the ISA fees,

I pay £30 dealing fee in the first month 3* US stock.

Every other month, if I trade 3+ US stocks then I won't be charged dealing fee nor £24 custody fee. (0% dealing fee as 3+dealing previous month and exempt from custody fee as 3+ trade in a quarter)

Thanks

 

Edited May 12, 2020 by robb9

[Fletch]

33 minutes ago, robb9 said:

Am I right to understand the ISA fees,

I pay £30 dealing fee in the first month 3* US stock.

Every other month, if I trade 3+ US stocks then I won't be charged dealing fee nor £24 custody fee. (0% dealing fee as 3+dealing previous month and exempt from custody fee as 3+ trade in a quarter)

Thanks

 

Not every other month - if you don't maintain three deals a month you will lose the zero commission deal (and don't forgot the 0.5% FEX fee)

Edited May 12, 2020 by Fletch

[robb9]

41 minutes ago, Fletch said:

Not every other month - if you don't maintain three deals a month you will lose the zero commission deal (and don't forgot the 0.5% FEX fee)

yes, i understand 0.5% fx fee. 

So just maintain 3+ US shares deal every month to get free commission and platform fee. It works out better than my current iWeb. Thanks

 

[robb9]

On 11/05/2020 at 15:16, CharlotteIG said:

Both share dealing and ISA trades count towards deducting the fee. 

All the best 

Does Spread bet trades count towards deducting commission and custody fees?

[Fletch]

1 hour ago, robb9 said:

Does Spread bet trades count towards deducting commission and custody fees?

ISA trades count towards share dealing since they are essentially the same thing. Whilst I don't deal in spreadbets, I would say it is unlikely that they would count towards commission/quarterly fee reduction in share trading as the instrument and charging structure is entirely different.