What are IG's commodities CFD product details?

7Metals information table

Contract	One contract means	Value of one contract (per full point)	Contract spread[1]	Limited risk premium	Margin requirement (per contract)[4]
Spot Gold	100 troy oz	$100	0.3	0.5	5.00%
Spot Silver	5000 troy oz	$50	2.	2	2%
PALL	100 troy oz	$100	1.2	2	3.5%
Spot Platinum	50 troy oz	$50	1.8	1.5	2%
High Grade Copper	25,000 lbs	$2.50	20	30	1.5%
Iron Ore	100 metric tonnes	CNH100	4.5	3	5%

Base Metals contracts

Base metals contracts have no expiry date; the position remains open until you choose to close it. Our quotes for this market are based on the three month forward prices for the underlying instrument. Separate daily funding adjustments are made for base metals.

Contract and dealing hours (London time)	One contract means	Value of one contract (per full point)	Value of one mini contract (per full point)	Contract spread[1]	Limited risk premium	Margin per lot[4]
Aluminium  01.00-18.00	25 metric tonnes	$25	$5	6	8	5%
Copper 01.00-18.00	25 metric tonnes	$50	$5	10	10	5.5%
Lead 01.00-18.00	25 metric tonnes	$2.50	$5	6	8	5%
Nickel 01.00-18.00	6 metric tonnes	$100	$1	30	40	8%
Zinc 01.00-18.00	25 metric tonnes	$25	$5	6	8	4%

All contracts have no fixed expiry date. 

Softs information table

Contract	Value of one contract (per full point)	Contract spread[1]	Limited risk premium	Margin requirement (per contract)[4]
Cocoa (London)	£10	3	4	4%
Cocoa (US)	$10	4	5	3%
Coffee Robusta	$10	3	6	3%
Coffee Arabica	$3.75	20	20	3%
Orange Juice	$1.5	24	40	4%
Cattle (Feeder)	$5	14	30	2.5%
Cattle (Live)	$4	12	30	2%
Lean Hogs	$4	10	30	2.5%
Cotton	$5	15	15	4%
COM	€50	0.7	2	4%
LB	$1.10	60	80	3.5%
Sugar No.5	$50	0.6	0.8	4%
Sugar No.11 World	$11.20	3	4	3%
Wheat (London)	£100	0.4	0.3	4%
Milling Wheat	€50	0.6	1	6%
Wheat (Chicago)	$50	0.6	1.5	2.5%
Corn	$50	0.6	1.5	3%
Oats	$50	0.6	1.5	5%
Rough Rice	$2	20	40	3%
Soyabeans	$50	1.2	2	2.5%
Soyabean Meal	$1	40	50	3.5%
Soyabean Oil	$6	6	8	4%

 

Metals futures contracts

Our futures contracts expire at specified dates in the future.

Note: We offer mini versions of all metals futures contracts at 20% of the main contract size and margin requirement (33% for Gold).

Contract and dealing hours (London time)	One contract means	Value of one contract (per full point)	Contract spread [1]	Limited risk premium	Margin requirement (per contract)	Last dealing day [6]
Gold 24 hours except 22.00-23.00	100 troy oz	$100	0.6	0.3	0.7%	Fourth business day prior to first day of contract month (9)
Silver 24 hours except 22.00-23.00	5000 troy oz	$50	3	2	2%	Penultimate business day of prior month
High Grade Copper 24 hours except 22.00-23.00	25,000 lbs	$2.50	40	30	1.5%	Two business days before the first day of the contract month
Palladium 24 hours except 22.00-23.00	100 troy oz	$100	2	2	3.5%	Penultimate business day of prior month
Platinum 24 hours except 22.00-23.00	50 troy oz	$50	2	1.5	2%	Fourth Friday of prior month

Notes for metals

Our metals contracts are a special form of CFD and give you exposure to changes in the price of metals.They are cash settled and cannot result in the delivery of the underlying metal.

1. a) CFDs on metal futures are quoted with reference to the equivalent expiry contract on the underlying futures market. CFDs on spot metals are quoted based on quotes in the underlying market available to us from the banks and liquidity providers with which we trade. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*)

d) Large trades may be subject to wider spreads. Learn more here

e) We will not charge any additional commission unless we notify you in writing

2. For limited-risk trades a limited-risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.

3. Minimum transaction sizes usually start from one contract. Please refer to the 'Get Info' section within our trading platform to find the minimum transaction size for each market. Subject to this minimum size, transactions may be in fractions of a contract.

4. We quote spot metals 24 hours a day (except 22.00-23.00), normally from 23.00 (London time) on Sunday until 22.00 (London time) on Friday. Futures contracts are quoted until 22.00 on Fridays.

5. For spot metal transactions, funding adjustments are calculated and posted to the client's account daily. Funding adjustments are calculated based on the relevant tom-next spread, including an admin fee of 0.3% p.a. An adjustment is calculated for any position opened before 22.00 that is still open after 22.00 (London time). For base metals transactions, funding adjustments are calculated based on the relevant cost of carry charge, including an admin fee of 2.5% p.a.

6. Positions in Gold, Silver and High Grade Copper futures not already closed by the client expire automatically at the settlement price of a futures contract of the relevant metal on COMEX on our last dealing day.

Positions in Palladium and Platinum futures not already closed by the client expire automatically at the settlement price of a futures contract of the relevant metal on NYMEX on our last dealing day.

The futures contract against which a futures metal is settled is designated in the name of the futures metal contract (e.g. DEC15).

7. For most positions, a client can, at any time before the position has been automatically closed, ask for the position to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer them the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains the client's responsibility to give instructions, if they so wish, to roll the position over before it expires.

8. Where the Gold (futures) settlement date would fall (as predicted by the rule in the table) on a Friday or on the day before a US holiday, the contract will instead settle on the previous day.

9. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our trading platform.

Our soft commodity futures contracts offer exposure to changes in commodity prices.

All our contracts expire at specified dates in the future and are cash settled; we quote you our own bid/offer spread based on the underlying commodity price.

Note: We offer mini versions of our commodity futures contracts at 20% or 50% of the main contract size and margin. Please see note 8 for more information.

Contract and dealing hours (London time)	Value of one contract (per full point)	Contract spread [2]	Limited risk premium[11]	Margin requirement (per contract)	Contract months and last dealing day
Cattle (Feeder) Chicago 14.30-19.05	$5	20	30	2.5%	Jan, Mar, Apr, May, Aug, Sep, Oct, Nov Last business day of prior month
Cattle (Live) Chicago 14.30-19.05	$4	20	30	2%	Feb, Apr, Jun, Aug, Oct, Dec Last business day of prior month
Cocoa (London) London 09.30-16.50	£10	4	4	4%	Mar, May, Jul, Sep, Dec 5th business day of contract month
Cocoa (US) New York 09.45-18.30	$10	8	5	3%	Mar, May, Jul, Sep, Dec 2nd Friday or previous business day of previous month
Coffee Arabica New York 09.15-18.30	$3.75	40	20	3%	Mar, May, Jul, Sep, Dec Second Friday or previous business day of previous business month
Coffee Robusta London 09.00-17.30	$10	4	6	3%	Jan, Mar, May, Jul, Sep, Nov Four business days prior to the first calendar day of the delivery month
Corn Chicago 01.00-13.45 14.30-19.20	$50	1	1.5	3%	Mar, May, Jul, Sep, Dec Penultimate business day of prior month
Cotton New York 02.00-19.20	$5	25	15	4%	Mar, May, Oct, Jul, Dec Third Friday of prior month
Lean Hogs Chicago 14.30-19.05	$4	15	30	2.5%	Feb, Apr, Jun, Jul, Aug, Oct, Dec Last business day of prior month
LB Chicago 15.00-22.00	$1.10	100	80	3.5%	Jan, Mar, May, Jul, Sep, Nov Last business day of prior month
Milling Wheat Paris 09.45-17.30	€50	1	1	6%	Jan, Mar, May, Jul, Sep, Nov Last business day of previous month
Oats Chicago 01.00-13.45 14.30-19.20	$50	1	1.5	5%	Mar, May, Jul, Sep, Dec Penultimate business day of prior month
Orange Juice New York 13.00-19.00	$1.5	40	40	4%	Jan, Mar, May, Jul, Sep, Nov Four business days prior to the first calendar day of the delivery month
COM Paris 09.45-17.30	€50	1	2	4%	Feb, May, Aug, Nov Four business days prior to the first calendar day of the delivery month
Rough Rice Chicago 01.00-03.00 14.30-19.30	$2	40	40	3%	Jan, Mar, May, Jul, Sep, Nov Penultimate business day of prior month
Soyabeans Chicago 01.00-13.45 14.30-19.20	$50	2	2	2.5%	Jan, Mar, May, Jul, Aug, Sep, Nov Penultimate business day of prior month
Soyabean Meal Chicago 01.00-13.45 14.30-19.20	$1	80	50	3.5%	Jan, Mar, May, Jul, Aug, Sep, Oct, Dec Penultimate business day of prior month
Soyabean Oil Chicago 01.00-13.45 14.30-19.20	$6	10	8	4%	Jan, Mar, May, Jul, Aug, Sep, Oct, Dec Penultimate business day of prior month
Sugar No. 5 London 08.45-17.55	$50	0.8	0.8	4%	Mar, May, Aug, Oct, Dec First Friday of the prior contract month
Sugar No.11 World New York 08.30-18.00	$11.20	5	4	3%	Mar, May, Jul, Oct Penultimate business day of previous month
Wheat (Chicago) Chicago 01.00-13.45 14.30-19.20	$50	1	1.5	2.5%	Mar, May, Jul, Sep, Dec Penultimate business day of prior month
Wheat (London) London 9.30-17.28	£100	0.5	0.3	4%	May, Nov Third Friday of prior month

Notes

All the instruments described on this site are Contracts For Difference (CFDs). Our contracts give you exposure to changes in the value of commodity prices but they are cash settled and cannot result in the delivery of any commodity or instrument.

1. Our commodities CFDs give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.

2. a)CFDs on commodity futures are quoted with reference to the equivalent expiry contract on the underlying futures market. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*)

d) Large trades may be subject to wider spreads. Learn more here

e) We will not charge any additional commission unless we notify you in writing

3. Positions not already closed by the client expire automatically with spread on the following basis:

• Coffee Arabica, US Cocoa, US Sugar No.11, US Cotton and Orange Juice: based on the settlement price of the relevant futures contract on NYBOT on our last dealing day
• Chicago Wheat, Corn, Oats, Rough Rice, Soyabeans, Soyabean Oil and Soyabean Meal: based on the settlement price of the relevant futures contract on CBOT on our last dealing day
• Live Cattle, Feeder Cattle, Lean Hogs and Lumber: based on the settlement price of the relevant futures contract on CME on our last dealing day
• Milling Wheat and Rapeseed: based on the settlement price of the relevant futures contract on Euronext on our last dealing day.
• Coffee Robusta, London Cocoa, London Sugar No. 5, London Wheat: based on the settlement price of the relevant futures contract on LIFFE on our last dealing day.

4. The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.

5. For most positions, a client can, at any time before the position has been automatically closed, ask for the position to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer him the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains the client's responsibility to give instructions, if he so wishes, to roll the position over before it expires.

6. Only liquid months will be available at any one time.

7. We offer mini versions of our commodity contracts - with proportionately reduced margin requirements - at the following rates:

• 20% of main contract size: London Cocoa, London Coffee, London Sugar, London Wheat, Milling Wheat, Rapeseed
• 50% of main contract size: US Cocoa, US Coffee, US Sugar, Orange Juice, Corn, Oats, US Wheat, Soyabeans, Soyabean Meal, Soyabean Oil, Rough Rice, Feeder Cattle, Live Cattle, Lean Hogs, Cotton, Lumber

8. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our trading platform.

9. Please note that tiered margining applies; this means that higher margins may be required for large positions. Margin requirements represent a percentage of the overall position value, and can vary depending on which account type you hold. If two values are listed, the first value applies to Trader accounts and the second to Select accounts. You can find the applicable tiered margins from the Get Info dropdown section within each market in our trading platform. See our margins page for more details.

10. Contracts on Lumber are available for trading from 15.00 (London time) on the Monday of a normal business week until 03:00 (London time). The market will close early on a Friday at 19.55 (London time). Note that there is a break each day between 16.00 and 17.00 (London time).

11. For limited-risk trades a limited-risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.