Minimum trade fees

[Stef]

Would like someone from IG to comment please...

 

Do you still charge a minimum trade fee, and if so, why?

 

My other brokers don't - one of the reasons I don't trade much through IG.

I trade stocks on the JSE.

 

When testing a strategy on the live market, it would be extremely helpful to trade small sizes until you are comfortable that your system works as expected. Once you are convinced that it works, you can then increase the size of the trades and the minimum fee becomes less of a problem.

 

As IG does not support/provide prices for stocks on demo accounts (after the initial two weeks) - this would be another solution to forward/live test your systems. Currently IG does not provide any mechanism to do this.

 

PS: The other way to do this would be to simply offer PRT's PaperTrading module to IG customers.

 

Stef

 

 

[DanC]

Hi ,

 

We do have a minimum charge for trading Share CFDs and all the details can be found at the following link: https://www.ig.com/za/shares-trading-costs

 

We've been discussing the possibility of adding paper trading into the IG ProRealTime offering, however there could be a number of obstacles to this. Furthermore, due to the way in which this has been created, IT-Finance have said it is unlikely to simulate live IG trading exactly, I'm afraid.

 

Once IT-Finance have been able to look into this further, I'll give you an update.

 

Thanks,

Dan

[Stef]

In that case, dropping minimum trade fees seems like the only mechanism whereby IG customers would be able to "live test" their equity-based trading strategies without risking unnecessarily large amounts of capital.

[Stef]

 update?

[DanC]

Hi 

 

I'm afraid at present there aren't any plans to reduce our minimum fees in order to allow clients to live test equity strategies. In the meantime I'll also ask ProRealTime for an update on the paper trading option.

 

Thanks,

Dan