Commissions on Demo Account (AU)

[Oscar_L]

Hey everyone,

I've just signed up for the demo account to practice trading CFD's and I noticed that when I trade CFD's for ASX shares like FMG the commission is way higher than it should be. Based on the fees and charges page I should be paying 0.08% which for a $20,000 trade should be $16. However I am getting hit for $77 odd dollars on both the open and close of the position.

Has anyone experienced the same?

Is there something wrong with my settings?

[OfentseIG]

15 hours ago, Oscar_L said:

Hey everyone,

I've just signed up for the demo account to practice trading CFD's and I noticed that when I trade CFD's for ASX shares like FMG the commission is way higher than it should be. Based on the fees and charges page I should be paying 0.08% which for a $20,000 trade should be $16. However I am getting hit for $77 odd dollars on both the open and close of the position.

Has anyone experienced the same?

Is there something wrong with my settings?

Hi @Oscar_L

Thank you for reaching out. 

The commission charged when trading CFDs on Australian shares is 0.08%, minimum charge of $7 applies. Therefore your commission will be (Shares x Price) x 0.08% 

Please email helpdesk.au@ig.com with the name of the stock, the number of shares bought and the date of trade on your demo account to help us investigate further. All the best, O.D