Praise for IG Index

[Black Swan]

No, because you are still paying them.

you think?

 

[montmorencyt2w]

IG is one of the better platforms out there but you need to be careful of the hidden charges. The overnight roll charge is 2 pct per annum, or 0.0055 pct per day. In EUR/USD this equates to 0.8 pip. Thus if you have an open position in EUR/USD for a month, IG will cumulatively charge you 24 pips above and beyond any interest rate differential. In NZD/USD, for example, I am currently paying 0.3 pip per day for being long NZD (and this currency has rates 3 pct higher than the USD!).

Interesting; I receive ~0.59 when long on AUS/USD with Tradefair, and I think AU and NZ have similar interest rates, or same ball park. When long EUR/USD I am charged about 0.10/pip.

 

[meanreversion]

Hmm, I'd never heard of Tradefair, is that anything to do with Betfair?

 

[meanreversion]

Hmmm, from their webpage -

Tradefair Spreads is a financial spread betting provider that offer some of the tightest spreads and lowest funding charges in the market.

specifically mentions funding costs, which you will find no mention of on IG.