Re: interest charges

[Guest]

please explain how i can be charged both and long interest charge and a short interest charge simultaneously ? 

[HannahL]

Hi , thanks for the post.

 

Our overnight funding/interest charges are applied to any non-forward positions held open on your account through 10pm (UK time).  The charge is really due to the fact that you are trading on leverage and essentially borrowing money to hold a larger exposure than your deposit or margin covers.  Long interest refers to any long positions you hold, and short interest for any short positions, so it is possible to incur both long and short interest if you have both long and short positions on your account.

 

If you have a specific example you want to check or for us to look at your account, please just email us (helpdesk.uk@ig.com) or call us (0207 896 0079) and we'd be happy to look into more detail!

 

Thanks,

Hannah

[Tri]

There is no actual borrowing involved, but IG imposes those charges to keep your positions opened overnight. Treat is a necessary expense. But also watch how much it costs you because you may lose your account because of those overnight charges.