Jump to content
  • 0

Share Dealing Charges


hamza2304

Question

Hi. 

On the IG website I see that charges for share dealing are nil if you make 3+ trades for US shares and £3 for UK shares in the previous month. I am not sure if "US shares" mean shares listed on a USA stock exchange like NASDAQ or shares listed anywhere in the world but denominated in USD?

I bought units of iShares ETFs last week which are listed on the London Stock Exchange, with one ETF denominated in USD and the other one in GBP. I made two transactions in USD and one in GBP and was charged a dealing fee for all three transactions. So wanted to check what does "USA shares" mean in the link below, i.e. USD denominated shares or shares listed in the USA? Any help would be much appreciated.  

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

Link to comment

9 answers to this question

Recommended Posts

  • 0

Hi @hamza2304

Thanks for the question

US shares means shares listed on USA exchanges. Please note that the commission discount applies for the following month after you have placed 3+ trades. So if you place 3+ trades in August you would then qualify for the discounted commission on trades placed in September. All the best

Anda

Link to comment
  • 0

Thanks for the response Anda. A couple of follow ups:

1. Is there a minimum or maximum number of trades that qualify for the discount next month? Or would I get a discount in Sep regardless of whether I place 1 trade or 100 trades? 
2. If I understand this correctly- would I be entitled to a discount every month if I place at least 3 trades every month continuously going forward now? And therefore never pay the standard fee unless I make less than 3 trades in a month?

Link to comment
  • 0

Hi @hamza2304

1. There is no minimum or maximum to the number of trades that will qualify. The discount would be applied for the month regardless on the number of times traded that month. Take note that each trade would have to have less than GBP25000 notional value .

2. Yes you would be entitled to the discount continuously if you place 3+ trades every month going forward. 

Hope this helps

Anda  

Link to comment
  • 0
6 hours ago, AndaIG said:

Hi @hamza2304

1. There is no minimum or maximum to the number of trades that will qualify. The discount would be applied for the month regardless on the number of times traded that month. Take note that each trade would have to have less than GBP25000 notional value .

2. Yes you would be entitled to the discount continuously if you place 3+ trades every month going forward. 

Hope this helps

Anda  

Hi, Anda.  I wonder if I can get some advice from you.

I've been trading with Ig since March 2019.

I closed a position last week that was around 30% up.  but my account is still down.  I've placed over 20 trades this week and I am now concerned that there are hidden charges going on.  I did a test today where I bought and sold at the same price. (US) but the money back in was £10 less (estimate) than what I paid out.

This has made me realise that each time I Buy and Sell I'm losing money.  Are there hidden costs I may not be aware of?  What might I be missing?

Link to comment
  • 0
6 hours ago, AndaIG said:

Hi @hamza2304

1. There is no minimum or maximum to the number of trades that will qualify. The discount would be applied for the month regardless on the number of times traded that month. Take note that each trade would have to have less than GBP25000 notional value .

2. Yes you would be entitled to the discount continuously if you place 3+ trades every month going forward. 

Hope this helps

Anda  

As you can see from the Image below, Alfi was bought @ 9.45 and sold @ 9.42.  3 pts.  the difference Out then in is around £7.

But we can also see Out and in in the next Alfi trade @ 9.7 and sold at 9.68.  this time only 2 pts but I was £12 down!?

Then we can see Pinterest bought and sold at the asme price, but money back to me was down £10.

History.jpg

Link to comment
  • 0

after reading your  notes . I had a look at my account( as I only trade USA stock ). and I realised that average £13 per trade each way was taken out of my account on charges     . my last trade  bough 500 kplt shares @6.946 for . $3473  and sold them @7.12 for $3560... the different is $87 profit .but after exchange I got.... in@ £2530.24   out@£2567.74  total £37.5... profit .  so i change my setting .. I hope this works better  

PS. BEEN TRADING FOR 4 WEEKS. 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • The mischievous amphibian who became a meme legend? Well, meet Apu, his wide-eyed, optimistic cousin, taking the internet by storm – and now, perhaps, the world of finance. Apu, also known as Peepo or Helper, is a kinder, gentler Pepe variant. Tired of the often-scammy memecoin scene, Apu (or rather, Apu's devoted community) decided to create something different: $APU, a "fairly launched, fully transparent coin" built by and for "all frens." Here's where things get interesting. $APU's narrative is one of resilience and community power. Fueled by the cryptocurrency community's enthusiasm, $APU was initially launched with the best of intentions. However, the dream took a nasty turn when the original developer pulled the rug – a disheartening scenario for many crypto enthusiasts. Today, $APU stands as a testament to community empowerment. It's a beacon of hope for projects facing similar challenges, a reminder that collaboration and resilience can transform setbacks into stepping stones. It's also worth noting that another community-driven memecoin, $MASSA, recently found a home on the Bitget exchange. Could this be a sign of things to come for $APU? What are your thoughts? Does Apu's story inspire you? Can a memecoin truly become a legitimate force in the volatile world of cryptocurrency? Share your thoughts and predictions in the comments below!
    • The price shown on the graph is the price after the IG's fee taken. That is the reason for discrepancy.
    • I am a relatively newbie. I have seen similar and also have seen automated closed position has a loss though the close price I have set was above the price I have bought. After about 6 months with a lot of mysterious losses though my closing price was above the opening price, I discovered this was because of the amount charged for opening/closing a position. This is right below BUY and SELL boxes on the right in very small font. This amount vary from  0.9 to 33 or more depending on the level of trading at the time you open or close. It also happens (god knows why it is set to be so, except that the trader is not watching) when there is a lot of buying and selling going on, like an important news has suddenly been out and the result was not the market expected. As a result, I delete all my automated BUY/SELL values before I stop trading for the day. Remember, the the software is set up to favor the IG, not the retail seller. That is why 70% or more end up in loss.  
×
×
  • Create New...
us