IG Index's rollover rates?

[alcadeia]

I have a long position on AUD/CHF with IG Index at £1 per point. ( I know it's tiny but that's all i can afford. :innocent

they charge me £1.07 daily for rollover.

also a long position on EUR/CHF at £2.5 per point. They charge me £2.20 daily.

Do you think their rollover rates are rip off or is it fair/reasonable?

 

[bwge]

It would be much cheaper if you traded the majors, the benefit is low spreads and also low rollover
If you intend to keep the position for more then a week then suggest trading the futures contracts
but then you end up paying higher spreads on these

 

[up-down]

I have a long position on AUD/CHF with IG Index at £1 per point. ( I know it's tiny but that's all i can afford. :innocent

they charge me £1.07 daily for rollover.

also a long position on EUR/CHF at £2.5 per point. They charge me £2.20 daily.

Do you think their rollover rates are rip off or is it fair/reasonable?

Personally I think that you are using the wrong tool to do the job, if you trade Forex use a proper Forex broker, you're also supposed to earn some interest on the long AUD/CHF the second pair you mentioned you may have to pay a little amount but not that much, it depends on the broker.

 

[JoPips]

I have a long position on AUD/CHF with IG Index at £1 per point. ( I know it's tiny but that's all i can afford. :innocent

they charge me £1.07 daily for rollover.

also a long position on EUR/CHF at £2.5 per point. They charge me £2.20 daily.

Do you think their rollover rates are rip off or is it fair/reasonable?

You can compare their swap rates against other brokers here : http://www.forexchurch.com/forex-broker-swap.cfm

Click the "View Different Currency" , choose audchf and click update ....form what I can see they are reasonably priced, there are some much worse and some better.

 

[alcadeia]

Thank you all for your reply

if you trade Forex use a proper Forex broker,

What do you mean by a proper forex broker?
Isn't IG a proper broker?

You can compare their swap rates against other brokers here : http://www.forexchurch.com/forex-broker-swap.cfm

Click the "View Different Currency" , choose audchf and click update ....form what I can see they are reasonably priced, there are some much worse and some better.

I don't see IG index in the list of the brokers.
Am I missing something?

 

[JoPips]

Thank you all for your reply



What do you mean by a proper forex broker?
Isn't IG a proper broker?




I don't see IG index in the list of the brokers.
Am I missing something?

IG isn't on the list, however since you know IG's rates, you can compare them with other brokers and therefore see if you are being ripped off or if IG's rates are reasonable by comparison. And as I said above, they appear to be middle of the road

 

[Black Jack]

I have a long position on AUD/CHF with IG Index at £1 per point. ( I know it's tiny but that's all i can afford. :innocent

they charge me £1.07 daily for rollover.

also a long position on EUR/CHF at £2.5 per point. They charge me £2.20 daily.

Do you think their rollover rates are rip off or is it fair/reasonable?

Unfortunately this is the going rate and most providers will charge the same!

 

[Jason Rogers]

they charge me £1.07 daily for rollover.
also a long position on EUR/CHF at £2.5 per point. They charge me £2.20 daily.

Hi alcadeia,

It can vary from broker to broker, so comparing as JoPips mentioned is probably a good idea. For comparison, FXCM's rollover rates are both positive for long positions in EUR/CHF and AUD/CHF.

Here's the latest data from the platform.

AUD/CHF: At £1.02 per point, you would earn £3.75 per day
EUR/CHF: At £2.51 per point, you would earn £0.37 per day.

Jason

 

[millsy500]

Crooks

IG isn't on the list, however since you know IG's rates, you can compare them with other brokers and therefore see if you are being ripped off or if IG's rates are reasonable by comparison. And as I said above, they appear to be middle of the road

I traded with IG markets Australia who are the same company, and when I started making some money ( not big) they changed the way they dealt with me regarding orders. For example every time I tried to close an existing order they left me hanging for a few seconds then order was cancelled. 2nd order to close trade was closed. This happened every trade. They also began requoting me constantly on orders to open.. Non of this ever happened until I started making money.