What are IG’s currency conversion fees for share dealing and ISAs?
When purchasing shares requiring a different currency to your account's base currency, an FX conversion is required. Our standard currency conversion fee is 0.5% on top of the exchange rate.
Example
Say you’re buying 10 shares of PepsiCo Inc (PEP) and the base currency of your account is sterling. Since this is a US stock, the required funds need to be converted from sterling to US dollars when buying (and back to sterling when selling).
Assume the GBP/USD exchange rate is 1.40 (£1 equals $1.40) and the price of PepsiCo Inc (PEP) is $150 per share*.
Conversion fee in US dollars: 10 shares x $150 per share x 0.5% FX conversion fee = $7.50
Conversion fee in sterling: (10 shares x $150 per share x 0.5% FX conversion fee)/(1.40 x 1.005) = £5.33
*All examples are for illustrative purposes only. Please check the costs and charges before trading. Figures may not add up to a given total due to rounding.
Where can I see the conversion fees I’ve paid?
For simplicity, we do not itemise conversion fees in transaction statements or ledger summaries. Instead, conversion rates inclusive of the conversion fee are shown in your transaction history. You can itemise the fees charged by multiplying the full amount converted by 0.5%.
Example: Say it costs £4,195.23 after conversion to purchase 10 shares of Tesla at $550 per share*.
FX conversion fee paid = £4,195.23 x 0.5% = £20.98
‘Costs and charges’ statements are provided every 12 months following opening your account which will show the aggregate fees paid throughout the period. These statements are sent via email and will be made accessible through your My IG dashboard.
*All given examples are for illustrative purposes only. Please check the costs and charges before trading. Figures may not add up to a given total due to rounding.
