Is IG Index's Tom Next fair?

[keithmc2]

I have currently have a DFB short on AUD/USD with IG Index at £10 per point. The daily rollover costs is approx £20 per day. Is this a fair rollover given the interest rate of AUD versus USD ot is it a rip off?

Also a few months I had a long Mexican Peso versus USD with IG - but I don't recall receiving any carry which struck me as unfair !

If it is unfair is there a broker offering better TOM Next

Thank you

 

[scose-no-doubt]

£20 x 360 / £100,000 = 7.2%

Seems a bit high innit. I thought they used libor + 3% or something...?

 

[keithmc2]

£20 x 360 / £100,000 = 7.2%

Seems a bit high innit. I thought they used libor + 3% or something...?

Maybe not then - Aussie interest rates are 4.25% so plus 3% = 7.25%

 

[tar]

Just checked fxcm for you they charge 1.7 pips on AUD/USD shorts ...

 

[Hoggums]

I have currently have a DFB short on AUD/USD with IG Index at £10 per point. The daily rollover costs is approx £20 per day. Is this a fair rollover given the interest rate of AUD versus USD ot is it a rip off?

Also a few months I had a long Mexican Peso versus USD with IG - but I don't recall receiving any carry which struck me as unfair !

If it is unfair is there a broker offering better TOM Next

Thank you

Trade the Jun futures if you are going to hold more than a week.

 

[keithmc2]

Just checked fxcm for you they charge 1.7 pips on AUD/USD shorts ...

It is the daily rollover cost I was referring to - not the spread

Thanks

 

[tar]

It is the daily rollover cost I was referring to - not the spread

Thanks

me 2 , fxcm will charge you 1.7 pips , you have 10 pounds / point = 17 pounds charge .

 

[keithmc2]

me 2 , fxcm will charge you 1.7 pips , you have 10 pounds / point = 17 pounds charge .

Sorry misunderstood

So its a bit less then ...

Thanks

 

[tar]

i was talking about fxcm forex account not SB account , however it should be the same i guess ...