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Overnight fees on spot and future spread bets


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According to IG's website, there are no overnight fees when you spread bet on futures - is this correct? And if so why?

Since it's a leveraged product, am I not effectively borrowing money when I spread bet, regardless of whether it be on spot on future?

I've read that the overnight fees are accounted for in the spread for the spread bets on futures, though it looks like the spot spread isn't much different from the future spread?

The reason I'm asking is because I currently have some gold and silver CFDs open with another broker, but they're starting to gather a lot of fees in overnight interest. So if I could reduce these fees by instead spread betting on futures then that would be great.

Just want to make sure there's no charges I'm not seeing, before I make the switch from CFDs to spread betting on futures!

Would appreciate any info on this

 

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21 hours ago, BeeAl said:

According to IG's website, there are no overnight fees when you spread bet on futures - is this correct? And if so why?

Since it's a leveraged product, am I not effectively borrowing money when I spread bet, regardless of whether it be on spot on future?

I've read that the overnight fees are accounted for in the spread for the spread bets on futures, though it looks like the spot spread isn't much different from the future spread?

The reason I'm asking is because I currently have some gold and silver CFDs open with another broker, but they're starting to gather a lot of fees in overnight interest. So if I could reduce these fees by instead spread betting on futures then that would be great.

Just want to make sure there's no charges I'm not seeing, before I make the switch from CFDs to spread betting on futures!

Would appreciate any info on this

 

Hey, 

This is correct we do offer gold and silver futures. They will have a slightly wider spread the the spot contracts but you're not charged overnight funding. 

The future contracts also expire but you can call us and ask for guidance on how to change your rollover settings when you join so the futures contracts will roll into the next one on expiry. (If you have an account you can change them on the MyIG page by selecting settings> Rollovers> enable and make sure they're saved. 

All the best 

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Guest Udo

 Hi!
What is the minimum size at Silver Kassa (Mini)?

The english info page it says:
(www.ig.com/uk/commodities/markets-commodities/silver)
Minimum size 0.50
Contract size USD 50

The German and Swiss info page:
(www.ig.com/de/rohstoffe/maerkte-rohstoffe/silber-kassa)
Minimum size 0.12
Contract size USD 50

In the trading mask we can use only:
Minimum size 0,5
by 2,5 EUR per pip (pip = 1 US Cent Stock market) !!
This corresponds to a leverage of 250 !!

Or is there a difference between demo and life-account and / or countries?
Can someone explain this?

THANKS1

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