Overnight funding

[Guest Simon11]

Can anyone tell me what the overnight funding charge on 100 contracts of Volatility Index (£1) should be?

I bought 100 @ 17.04 two days ago and am being charged about £6 per day. (The margin is about £180). 

That seems excessive?

[Caseynotes]

7 hours ago, Simon11 said:

Can anyone tell me what the overnight funding charge on 100 contracts of Volatility Index (£1) should be?

I bought 100 @ 17.04 two days ago and am being charged about £6 per day. (The margin is about £180). 

That seems excessive?

Hi, not sure on that market specifically but on Fridays there is generally a x3 charge to cover the weekend, does that explain the difference from what you were expecting? More on over night funding here > 

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

Edited September 14, 2019 by Caseynotes