Confused about commission.

[Guest Paul B.]

It says in the blurb that commissions are free for for 3+ trades of US stocks.
https://www.ig.com/uk/investments/share-dealing/costs-fees

I just made three trades (bought then sold then bought again) but my history shows £10 commission charges for each trade.

Are they free or not? I would appreciate if someone could explain.

Thank

Paul

 

[ItsAlex]

I agree it is not very clear. I assume you would get 0 commissions starting from the 4th trade, i.e after you have placed 3 trades in the month and paid commissions on those. If you are trading stocks frequently I would recommend you look at different brokers such as Robinhood.

[Fletch]

Just as an aside, it should be noted that the commission waiver is applied on a monthly basis. That is to say making three trades in a month will only grant you the waiver in the following month - any additional trades (beyond the three needed to gain the commission reduction) made in the same month will still be subject to a £10 commission.

[Guest Tun]

On 30/06/2020 at 08:29, ItsAlex said:

I agree it is not very clear. I assume you would get 0 commissions starting from the 4th trade, i.e after you have placed 3 trades in the month and paid commissions on those. If you are trading stocks frequently I would recommend you look at different brokers such as Robinhood.

I wonder whether you were would be charge on the 4th trade?

If, not then it still cost a regular trader (more than 3 trades in the month) £30 assuming each trade is £10.