Jump to content
  • 0

Overnight charges - can ANYONE explain them?


RobJ

Question

I am perplexed by the charges IG seem to conjure.

On one overnight trade I get a .70p interest charge....... and yet on another identical trade (i.e. Same quantity and just one overnight held position) I get a £9.87p interest charge.

IG chat help just tells me overnight charges are not fixed charges (interesting use of words!).

When pressed on this matter, the chat is cut off telling me "I am unable to provide you the information/assistance right now. However, I will get back to you with an email at the earliest".

All I need is a clear and reasonable explanation.

All answers gratefully received.

Link to comment

1 answer to this question

Recommended Posts

  • 0
7 hours ago, RobJ said:

I am perplexed by the charges IG seem to conjure.

On one overnight trade I get a .70p interest charge....... and yet on another identical trade (i.e. Same quantity and just one overnight held position) I get a £9.87p interest charge.

IG chat help just tells me overnight charges are not fixed charges (interesting use of words!).

When pressed on this matter, the chat is cut off telling me "I am unable to provide you the information/assistance right now. However, I will get back to you with an email at the earliest".

All I need is a clear and reasonable explanation.

All answers gratefully received.

Hi @RobJ,

Thank you for your post.

It is likely that you were charged for the weekend if you are trading FX.

Spot FX in the underlying market usually works on a T+2 basis, meaning settlement/delivery 2 working days after the trade takes place. Because of this, the weekend interest (3-day charge) is charged if you held a position through 10pm on a Wednesday rather than through market close on Friday.

I hope that it helps !

All the best - Arvin

 

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
×
×
  • Create New...
us