With 0% FX Spread Markups, IG Markets Helps You Keep More of Your Money When Investing Globally
Updated: 3 Jul 2026
Written byAlevin K Chan
Freelance Contributor
You probably saw SpaceX go public this month - the largest IPO in history. Like most of the companies people are talking about, from the chipmakers powering the AI boom to the next big names lining up to list like Anthropic, it trades in the US, not Singapore. If your portfolio is only local stocks and ETFs, the biggest stories in investing are happening somewhere you're not.
But when investing overseas, the cost of a trade is not always limited to commission. There is often another cost sitting in the background: an FX spread markup quietly built into the exchange rate you're given.
Understanding the cost of currency conversion
When you buy an overseas stock or ETF, your money first has to be converted into that market's currency. For example, US dollars for a US-listed stock, pounds for a UK ETF, or Hong Kong dollars and yen for shares listed in Hong Kong and Japan.
Here’s how that conversion works. It’s a bit like changing money before a trip: there's the actual market exchange rate, and then there's the bit the money changer adds on top, which is why you always end up hunting for the stall with the best rate.
Converting currency to trade overseas works the same way: on top of the underlying market rate sits a small markup, known as FX spread markup. It's a standard part of currency conversion, built into the rate rather than charged as a separate line.
But how much does the spread markup really matter? Let’s run through a simple example to see the impact.
Assuming a markup of just 0.5%, here’s how much it adds up to across different amounts converted:
|
Amount invested |
Cost from spread markup |
|
S$10,000 |
S$50 |
|
S$50,000 |
S$250 |
|
S$100,000 |
S$500 |
So on S$100,000 converted, a 0.5% markup works out to S$500. That means S$500 less that goes into the investment. On its own that can look small, but because it applies each time you convert, it adds up across regular overseas trading, which is why removing it makes a real difference over time.
Enjoy 0% spread markup1 with IG Markets
For a limited time, IG Markets is waiving its markup entirely for all share trading clients - that's 0% spread markup1 on your currency conversions. You'll still convert at the underlying rate from their third-party liquidity providers, which moves with the market, but with none of their markup on top.
That's on top of the $0 commission and $0 platform fees^ share trading clients always get.
Lower costs mean more of your money stays invested. So what can you put it into? From one IG Markets account, you can trade the names behind today's biggest market stories.
In the US, that means the AI and tech giants leading the rally, like Nvidia, Apple, Amazon and Tesla, plus newly listed SpaceX. Prefer broad exposure? ETFs such as the Vanguard S&P 500 (VOO) and Invesco QQQ track the market's biggest names in a single trade.
IG Markets is also one of the few brokerages in Singapore that offers access to the UK market, allowing investors to trade Ireland-domiciled UCITS ETFs such as CSP1 and VWRP on the London Stock Exchange.
Beyond the US and UK, you can reach Asia's heavyweights, from Alibaba in Hong Kong to Sony in Japan.
The more markets you can reach, the more your conversion costs would normally add up. For now, that's one cost you won't be paying.
Brokerage fees and hidden costs: what most investors don’t see
When you trade overseas, the headline cost is rarely the full story. "$0 commission" is where most brokers stop - but commission is only the top layer. Underneath it sits two more costs: a platform fee on every order, and an FX markup baked quietly into your exchange rate each time your money is converted. Add them up, and a trade that looked "low costing" usually isn't:
|
Fee type |
Most brokerages |
IG Markets |
|
Commission per trade |
Typically a % of trade value (e.g. 0.02%–0.06%) |
$0 |
|
Platform fee |
Could be a % of order or fixed $ per trade (e.g. US$1 per order) |
$0 |
|
FX spread markup |
Built into exchange rate (e.g. 0.5%+) |
0%¹ (during promotion) |
|
Your all-in cost for every trade |
Commission + Platform fee + FX spread markup |
$0 (with this promotion1) |
Most brokers waive one layer and keep the other two, and the markup adds up every time you convert. IG Markets is waiving all three on global share trades this promotion.
IG Markets is part of IG Group, a global investing and trading business with over 50 years of experience serving clients worldwide. As a diversified financial services company with multiple revenue streams across its broader business, IG Group is able to offer 0% FX markup1 on share trades during this promotional period.
IG Markets operates in Singapore as IG Asia Pte Ltd and is regulated by the Monetary Authority of Singapore (MAS). IG Group is also listed on the London Stock Exchange, providing transparency as a publicly listed company.
More reasons to trade with IG Markets
Beyond markup waiver, there are more reasons to trading with IG Markets.
US Fractional shares from just S$1
Some of those US giants come with big share prices, but you don't need a whole share to get in. Fractional share trading lets you start from just S$1, so you can hold the companies you believe in, spread smaller amounts across several of them, and keep more of your cash working in the market instead of waiting until you can afford a full share.
Earn up to 3%2 p.a. while you stay invested
Your shareholdings don't have to sit idle. Eligible investors can earn up to 3%2 p.a. interest on qualifying shares and ETFs, on the first S$50,000 of your shareholdings, so your portfolio keeps working even on the days the market doesn't move. Just one trade a month keeps you qualified.
Sign-up now for exclusive welcome rewards
The 0% spread markup1 promo stands well on its own. But if you start with IG Markets this month, you’ll get to enjoy exclusive welcome rewards on top!
Here’s what’s in store for you:
-
Up to S$2583 welcome rewards for new clients + S$504 PayNow reward via SingSaver
To qualify, investors need to complete the following steps:
-
Apply and open a share trading account for IG Markets via SingSaver.
-
Fund the account with a minimum of S$500 in one transaction.
-
Make one eligible trade within 30 days of account activation to receive S$188 OR make the trade within 7 days of account activation to receive S$258
-
Fulfil the 30-day holding period (ie. No withdrawals for 30 days) from the date of deposit
Stop paying more when investing
When investing globally, small fees can make a bigger difference than they first appear. FX Spread Markups, commissions and platform fees may look manageable on a single trade, but over time, they can quietly chip away at the amount you actually put to work in the market.
That’s what makes IG Markets’ limited-time 0% FX Markup1 promotion worth a closer look. With 0% FX Markup1 during the promotional period, plus $0 commission and $0 platform fees^, investors can access US, UK, Japan and Hong Kong markets at lower cost.
And let’s not forget about features such as fractional US share trading from S$1, up to 3%2 p.a. interest on eligible shares and ETFs, and up to S$2583 in welcome rewards.
Ready to stop letting fees take a bite out of your global investments? Sign up for IG Markets today!
Enjoy lower trading fees now!
Disclaimers
The promotions are applicable to share trading accounts on IG Markets only.
¹0% FX Markup T&Cs apply. ²Interest on shares T&Cs apply. 3% p.a. on first S$50,000 shareholdings. Make 1 trade a month to qualify. ³Welcome bonus T&Cs apply. New IG Markets clients only. ⁴SingSaver exclusive. Sign up via SingSaver to receive S$50 via PayNow or S$70 eCapitaVoucher. Additional SingSaver T&Cs apply. ^Other fees and charges may apply.
IG Asia Pte Ltd is regulated by the Monetary Authority of Singapore. The images shown in this advertisement are for illustrative purposes only. This information is intended for general circulation only and does not contain an investment recommendation. All forms of investments carry risk. Refer to full disclaimers and disclosures at IG.com/sg. This advertisement has not been reviewed by the Monetary Authority of Singapore.
About the author
Alevin K Chan
Alevin loves helping people make good money decisions. He briefly flirted with being a Financial Advisor, but quickly realised writing about personal finance is the better way to go.