IG UK: conflicting FX funding inputs
Calculate a confirmed swap charge without arbitrarily choosing inconsistent admin inputs.
Conflict within the source
Help dated 8 September 2026 states tom-next plus 1.5% in prose, yet its CFD base formula shows 0.3%, or 0.8% for minis. This does not establish one universal FX admin rate.
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Diagram explained
Confirm rate and contract period
- Prose 1.5%; CFD formula 0.3% / 0.8%
- Assume 2 × 10 × −0.40 = −USD 8
- Do not add admin already in swap
Use a confirmed swap
If a confirmed swap is −0.40 points for the period, two contracts worth USD 10/point produce −USD 8: 2 × 10 × −0.40. Do not add administration again when included in the input.
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Match the day period
FX held through Wednesday 22:00 UK time generally receives three days’ funding; futures/forwards differ from cash CFDs. Verify the swap period before tripling; Friday is not universal across assets.
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Reconcile the evidence
Save standard/mini contract, side, displayed swap and statement, then obtain confirmation of the applicable rate. Match entity and platform; historical LIBOR examples are not current quotes.
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