trading shares/CFDs

[OllyB777]

Hi,

I've recently moved to IG from Etoro and just getting my head around the new fee system.

Let me see if i have this right;

As an example - i bought x amount of shares for Tesco (single trade). I sell them at £40 profit an hour later. The fees are; the spread AND a trading fee of £10? the CFD fees are only applicable overnight? Is that the only fee or is there also commission on top?

would this be correct? also i noticed on the demo account that fees aren't brought up in the history section. In which case i was wondering how to actually find a record of them within the account. Apologies for the lame questions - seems the spreads are better here at IG - but the interface isn't as intuitive.

Just want to get these questions sorted before i open the live account.

 

Thanks,

Olly

[trade247]

on a CFD account I guess you have the unavoidable market spread and the commission as you stated - yes. If you hold the position over 10pm then you will also have an overnight cost like you said. Basically seems like you're right in your understanding.

costs are on the statements overnight and in the My IG area

[OllyB777]

thanks for help!

I'm also guessing i'm right that each trade has an initial fee (i think its £10). does that come off as soon as you put on the trade - or after (i'm guessing at the start as you might clear your account through loses by the time its closes...)?

thanks you!

[OllyB777]

So i think i see it is (as i'm in the uk);

£10 per trade commission. however if the trade is was a large sum and 0.1% was higher (ie if the trade was £20,000 it would be 0.1% as that would be £20).

So i'm assuming from my demo account - these fees don't show up? As nowhere does it show this in my trades or balances (ie fees). Perhaps they leave this off and it isn't simulated. 

[trade247]

On ‎12‎/‎02‎/‎2019 at 15:27, OllyB777 said:

So i think i see it is (as i'm in the uk);

£10 per trade commission. however if the trade is was a large sum and 0.1% was higher (ie if the trade was £20,000 it would be 0.1% as that would be £20).

So i'm assuming from my demo account - these fees don't show up? As nowhere does it show this in my trades or balances (ie fees). Perhaps they leave this off and it isn't simulated. 

should be correct yeh - commission is taken immediately on the buy and the sell side as soon as you confirm the trade / click. Looks like not in demo accounts tho.

[DanielaIG]

Hi @OllyB777, yes you are correct.

When dealing on shares, there is a commission for entering and exiting the trade, both on CFD and Share dealing. These charges are taken from your account when you open the position and then when you close it.

As you mentioned, there is also an overnight funding charge on CFDs and a borrowing cost if you are going short the share.

You can find our charges and commissions on the following links.

CFD: https://www.ig.com/uk/spread-betting-cfds-charges

Share dealing: https://www.ig.com/uk/investments/share-dealing/costs-fees