Forex CFDs
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.0% of retail investor accounts lose money when trading CFDs with IBKR. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMMISSIONS
Contract for Differences (CFD)
- Share CFDs use a Volume-Tiered pricing structure in which all exchange and regulatory fees are included. Commissions apply to all order types.
- Index CFDs use a Fixed pricing structure. Commissions apply to all order types.
- Forex CFDs use a volume tiered pricing structure. Tiers are based on the combined Monthly Trade Value of Forex CFD and Spot Forex trades.
- Metals CFDs use a Fixed pricing structure. Commissions apply to all order types.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.0% of retail investor accounts lose money when trading CFDs with IBKR. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our tight spreads and substantial liquidity are a result of combining quotation streams from 17 of the world's largest foreign exchange dealers which constitute more than 60%1 of the market share in the global interbank market. This results in displayed quotes as small as 0.1 PIP. IBKR passes through the prices that it receives and charges a separate low commission. We do this in the interest of providing a transparent pricing structure instead of marking up our quotes and charging nothing in commissions as is the practice with many currency brokers. Tiers are based on the combined Monthly Trade Value of Currency CFD and Spot Currency trades.
| Monthly Trade Value (USD)2 | Tiered |
|---|---|
| ≤ 1,000,000,000 | 0.20 basis point 3 * Trade Value 4 |
| 1,000,000,000.01 - 2,000,000,000 | 0.15 basis point 3 * Trade Value 4 |
| 2,000,000,000.01 - 5,000,000,000 | 0.10 basis point 3 * Trade Value 4 |
| > 5,000,000,000 | 0.08 basis point 3 * Trade Value 4 |
| Minimum per order 2 |
Tier I - USD 2.00 Tier II - USD 1.50 Tier III - USD 1.25 Tier IV - USD 1.00 |
Disclosures
- Source: Euromoney FX survey FX Poll 2018: The Euromoney FX survey is the largest global poll of foreign exchange service providers.
- Or USD currency equivalent
- 1 basis point=0.0001.
- Commissions for spot currency trades are calculated off the trade value and then converted and charged to the base currency of the account.
- Commissions apply to all order types.
- All exchange and regulatory fees included.
- Our Tiered commission schedules (which cover commissions plus external venue fees/rebates) are not intended to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to clients in IBKR’s Tiered commission schedule may be greater than the costs paid to the relevant exchange or third party by the IBKR entity responsible for execution (Executing Broker), subject to applicable laws. For example, the Executing Broker may pay lower fees than the fees paid by clients to IBKR; likewise, rebates passed on to clients by IBKR may be less than the rebates the Executing Broker receives from the relevant exchange or third party. For example, if the Executing Broker receives higher rebates (or pays lower fees) for exceeding volume thresholds on a particular exchange / third party, it typically will not pass these volume-based incremental rebates/fee discounts directly to clients.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
- Value-Added Tax (VAT), Goods and Service Tax (GST) or other consumption taxes will be separately applied to commissions and services, where applicable, based on the prevailing rates.
- For currency trades executed under the auto currency conversion service, IB will typically add or subtract (at its discretion) 0.03% to the exchange rate that would otherwise apply. Please note that IB does not separately charge a commission on these auto-conversion trades.
- IBKR may change these rates at any time in its sole discretion. Commission rates may also vary by program or arrangement. Restrictions apply. The published rates are for direct clients of IBKR. Clients introduced through another broker or managed by an advisor may pay additional commissions set by their introducing broker or advisor. Clients should contact their introducing broker or advisor about the rates that will apply to their account.