Share CFDs
COMMISSIONS
Contract for Differences (CFD)
Share CFDs use a Volume-Tiered pricing structure in which all exchange and regulatory fees are included. Commissions apply to all order types.
Americas
United States Share CFDs
| Volume (per Month) 1 | IBKR Commission per Share (USD) | Minimum per Order (USD) |
|---|---|---|
| ≤ 300,000 | 0.0050 | 1.00 |
| 300,001 - 3,000,000 | 0.0045 | 1.00 |
| 3,000,001 - 20,000,000 | 0.0040 | 1.00 |
| 20,000,001 - 100,000,000 | 0.0035 | 1.00 |
| > 100,000,000 | 0.0030 | 0.65 |
If you execute 500,000 US Share CFDs in a month, your IBKR Commission would be USD 2,400:
300,000 CFDs at USD 0.0050 = USD 1,500
plus
200,000 CFDs at USD 0.0045 = USD 900
Notes:
- Volume tiers are applied based on monthly cumulative trade volume summed across US Share CFDs at the time of the trade. European Share CFD trades will not count towards the monthly volume (and vice versa). The above commissions include all fees and are applied on a marginal basis for a given calendar month.
- All exchange and regulatory fees included.
- VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
- All commissions and fees include the 10% Japanese consumption tax.
- IBKR may change these rates at any time in its sole discretion. Commission rates may also vary by program or arrangement. Restrictions apply. The published rates are for direct clients of IBKR. Clients introduced through another broker or managed by an advisor may pay additional commissions set by their introducing broker or advisor. Clients should contact their introducing broker or advisor about the rates that will apply to their account.
EMEA
Europe Share CFDs
See Product Listings for countries and shares covered.
| Monthly Value (in EUR)1 | Per Trade Fee | Minimum per Order |
|---|---|---|
| ≤ 10,000,000 | 0.05% | GBP 3.00 |
| 10,000,000.01 – 100,000,000 | 0.03% | GBP 2.00 |
| > 100,000,000 | 0.02% | GBP 1.00 |
| Monthly Value (in EUR)1 | Per Trade Fee | Minimum per Order |
|---|---|---|
| ≤ 10,000,000 | 0.05% | EUR 3.00 |
| 10,000,000.01 – 100,000,000 | 0.03% | EUR 2.00 |
| > 100,000,000 | 0.02% | EUR 1.00 |
| Monthly Value (in EUR)1 | Per Trade Fee | Minimum per Order |
|---|---|---|
| ≤ 10,000,000 | 0.05% | CHF 3.00 |
| 10,000,000.01 – 100,000,000 | 0.03% | CHF 2.00 |
| > 100,000,000 | 0.02% | CHF 1.00 |
| Monthly Value (in EUR)1 | Per Trade Fee | Minimum per Order |
|---|---|---|
| ≤ 10,000,000 | 0.05% | USD 3.00 |
| 10,000,000.01 – 100,000,000 | 0.03% | USD 2.00 |
| > 100,000,000 | 0.02% | USD 1.00 |
| Monthly Value (in EUR)1 | Per Trade Fee | Minimum per Order |
|---|---|---|
| ≤ 10,000,000 | 0.05% | SEK 39.00 |
| 10,000,000.01 – 100,000,000 | 0.03% | SEK 29.00 |
| > 100,000,000 | 0.02% | SEK 29.00 |
| Monthly Value (in EUR)1 | Per Trade Fee | Minimum per Order |
|---|---|---|
| ≤ 10,000,000 | 0.05% | NOK 39.00 |
| 10,000,000.01 – 100,000,000 | 0.03% | NOK 29.00 |
| > 100,000,000 | 0.02% | NOK 29.00 |
Notes:
- The CFD tiers are based on the Monthly Trade Value as expressed in EUR. When calculating the Monthly Trade Value in EUR, IBKR converts any non-EUR denominated CFD trade to its EUR-equivalent using the most recent exchange rate. In this way, stock trades denominated in non-EUR currencies will be counted towards the monthly value for commission breaks.
- Commissions apply to all order types. In addition a surcharge is applied to IBKR Algo orders (VWAP, DarkIce, etc.) for CFDs on European shares as follows:
- GBP denominated 0.015%
- EUR denominated 0.01%
- CHF denominated 0.025%
- EUR (Finnish only) denominated 0.025%
- SEK denominated 0.10%
- All exchange and regulatory fees included.
- VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
- All commissions and fees include the 10% Japanese consumption tax.
- IBKR may change these rates at any time in its sole discretion. Commission rates may also vary by program or arrangement. Restrictions apply. The published rates are for direct clients of IBKR. Clients introduced through another broker or managed by an advisor may pay additional commissions set by their introducing broker or advisor. Clients should contact their introducing broker or advisor about the rates that will apply to their account.
Asia-Pacific
Australia Share CFDs
| Monthly Value (in AUD) | Per Trade Fee | Minimum per Order (AUD) |
|---|---|---|
| ≤ 10,000,000 | 0.05% | 5.00 |
| > 10,000,000.01 – 100,000,000 | 0.03% | 3.00 |
AUD 25,000 Value CFD = AUD 12.50
Hong Kong Pass-Through CFD Fees
| Fee | ||
|---|---|---|
| Stamp Duty | 0.13% 1 | |
| SFC Transaction Levy | 0.0027% | |
Hong Kong Share CFDs
| Monthly Value (in HKD) | Per Trade Fee | Minimum per Order (HKD) |
|---|---|---|
| ≤ 300,000,000 | 0.05% | 12.00 |
| > 300,000,000 | 0.03% | 8.00 |
HKD 50,000 Value CFD = IBKR Execution Fee HKD 25 + SFC Levy HKD 1.35 + Stamp Duty HKD 50 = HKD 76.35
Japan Pass-Through CFD Fees
| Fee | |
|---|---|
| Clearing | JPY 2.95 + 0.0004% |
Japan Share CFDs
| Monthly Trade Value (JPY)2 | Tiered3 | Minimum |
|---|---|---|
| ≤ 9,000,000,000 | Trade Value * 0.03% | JPY 100 |
| 9,000,000,000.01 – 20,000,000,000 | Trade Value * 0.02% | JPY 40 |
| > 20,000,000,000 | Trade Value * 0.015% | JPY 30 |
JPY 500,000 Value CFD = IBKR Execution Fee JPY 150 + Clearing Fixed JPY 2.95 + Clearing Variable JPY 2.00 = JPY 154.95
Singapore Share CFDs
| Monthly Value (in SGD) | Per Trade Fee | Minimum per Order (SGD) |
|---|---|---|
| ≤ 50,000,000 | 0.11% | 2.50 |
| 50,000,000.01 – 150,000,000 | 0.09% | 1.60 |
| > 150,000,000 | 0.08% | 1.20 |
SGD 50,000 Value CFD = IBKR Execution Fee SGD 55.00
Notes:
- Round up to the nearest 1.00
- Tiers are based on the combined Monthly Trade Value expressed in JPY of CFD and Share trades. The per trade fee is applied on a marginal basis, in the same way as for Europe and the US.
- There is no fix rate pricing for CFD.
- Commissions apply to all order types. In addition a surcharge is applied to IBKR Algo orders (VWAP, DarkIce, etc.) for CFDs on Asian shares as follows:
- AUD, HKD, and SGD denominated 0.10%
- All exchange and regulatory fees included.
- VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
- Closing odd lot positions is only available for telephone orders, which will cost JPY 3,300 per order.
- Contract Interest is calculated daily on all open CFD positions held at the close of the trading session and is applied as a blended rate based on notional balances. Please check Share CFD Interest for the details.
- All commissions and fees include the 10% Japanese consumption tax.
- IBKR may change these rates at any time in its sole discretion. Commission rates may also vary by program or arrangement. Restrictions apply. The published rates are for direct clients of IBKR. Clients introduced through another broker or managed by an advisor may pay additional commissions set by their introducing broker or advisor. Clients should contact their introducing broker or advisor about the rates that will apply to their account.
Commissions and Fees
Trading commissions and other fees are payable in accordance with the rates, amounts and methods described in the "Commission Guidelines" for trading share CFDs.Margin
In order to conduct share CFD trading, the client is required to deposit margin (cash only) as collateral as stated in our risk disclosure document.Risk of loss of principal due to price fluctuations
Our share CFD transactions are conducted using the prices of individual stocks as the underlying assets. These prices may fluctuate, which may result in a profit or a loss.Risk of loss in excess of principal due to price fluctuations
Share CFD transactions are high-risk transactions, and the amount of loss may exceed the amount of margin. Share CFDs have a leverage effect and are high-risk transactions where losses are largely dependent on fluctuations in the price of the underlying asset. The amount of loss may exceed the amount of margin because the amount of transaction is larger than the amount of margin required to be deposited by the customer for the transaction.Risk associated with liquidations
To prevent clients from incurring losses in excess of the amount of margin deposited when trading share CFDs, we have established a rule to liquidate open positions in certain cases, but there is a risk that losses in excess of the amount of margin may occur due to sudden changes in market conditions.Clients should monitor the status of their trading account at all times to ensure that they maintain sufficient funds to meet the margin requirements set by IB. IB will not notify Clients in advance of any margin shortage in the case of compulsory liquidations of open positions in the Client’s trading account or in the case of taking any other action stipulated in the General Terms and Conditions. In other words, in the event such as the margin ratio falling below a predetermined level, we will execute a mandatory liquidation to restore the margin amount without any intraday grace period, such as issuing a margin call to the Client.