Broker IG has released a table for May to help traders manage their trading costs and make informed decisions.
The table shows the overnight funding fees charged to the trader.
The overnight funding fee is the cost of holding a position overnight until 22:00 UK time, and it is charged at the end of each trading day. The fee is calculated based on the size of the trader's position and the interest rate differential between the two currencies involved in the trade, plus IG's administration fee, according to the company's website.
The information in the table can be used by the trader to estimate the cost of holding a position for a certain period of time and decide whether to leave it open or close it by the end of the trading day.
The broker also noted that it will continue to update the data in the table at the beginning of each new month.
Earlier, we wrote that IG has opened the Financial Freedom Hub for its clients, the main purpose of which is to improve the financial literacy of users.
Broker IG Markets was founded in 1974 and is a structural division of IG Group Corporation. The main activity of the company is the provision of services in the trading of derivative financial instruments (CFDs).
