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Daily FX interest for one day Litecoin

Guest Jambo

By Guest Jambo,
in Cryptocurrency and Blockchain

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Guest Jambo

Guest Jambo

Posted
Posted

I have an DFB on Litecoin and I’m being charged daily FX interest which is becoming too expensive week after week.

my account is in GBP. If my account was in USD, is the daily FX interest be charged as well?

thanking you in advance

 

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JamesIG Esteemed Contributor

JamesIG

Posted
Posted

hey @Jambo - if you are trading crypto assets with IG then you will incur an overnight charge, and the currency you are trading in wouldn't actually have an effect on whether or not you're charged.

There is no TomNext rate in the same way as there is for other more traditional currency pairs, so this value incorporates the primary risks for IG in offering cryptos. These include low liquidity at touch price, exchange risk, wallet risk, and the costs associated with offline cold storage and insurance. 

Check out the below snippet from the H&S portal which you may find useful.

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For more information, including what these calculations mean, please check out: https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/what-are-igs-cryptocurrencies-spread-bet-product-details

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