Minimum contract sizes

[jonathancole1]

Hi all,

Have the minimum contract sizes been increased?

I used to trade 0.13 contracts on FTSE 100 cash (£2), as I'm new to trading live and only have a small account.

This morning, the smallest contract size I can trade is 0.5! Almost 4x what it was before?

Anyone know why it's changed, if it's temporary or likely to stay that way? If it stays that way I won't be able to afford to trade and will have to close my account.

[AMart2k20]

I think this is because your account is 1 month old, I have had the same issue with my S&P 500 (US 500) £1 cash positions crossing from 0.5 contracts minimum to 2 contracts minimum - a quadrupling of price. I am on the phone at the moment and will ask if there is a way to get it back down. Markets are too volatile for me to want to quadruple my outlay at the moment.

[Caseynotes]

On 27/04/2020 at 08:27, jonathancole1 said:

Hi all,

Have the minimum contract sizes been increased?

I used to trade 0.13 contracts on FTSE 100 cash (£2), as I'm new to trading live and only have a small account.

This morning, the smallest contract size I can trade is 0.5! Almost 4x what it was before?

Anyone know why it's changed, if it's temporary or likely to stay that way? If it stays that way I won't be able to afford to trade and will have to close my account.

Hi, @AMart2k20 is correct, there is an introductory 1 month at the lower rate. However both the FTSE and the S&P can be traded using micro lots on the MT4 platform, see the IG web page for details.

 

[Guest playground]

Hi all, how to play small size 0.01 lot on Ger30 Index - without leverage, on IG platform?

How to set leverage and lot size - most of them is min 0.5 lot or more which require sometimes £8K or over deposit..

I am interested in playing my own money, small amount, small risk, but long time, a week, month time position (without paying for borrowed money as it is with spread betting and without a multiplied by leverage position for a high risk of loosing money).

[Vestapol]

On 29/04/2020 at 12:04, Caseynotes said:

Hi, @AMart2k20 is correct, there is an introductory 1 month at the lower rate. However both the FTSE and the S&P can be traded using micro lots on the MT4 platform, see the IG web page for details.

 

Hi @Caseynotes. Is this the same with forex? That is **** low: reel you in to get you used to the platform, then Bam! - put you up to your neck in risk. Also counter-productive, because the IG platform is a pleasure to trade on, but if the only way most retail traders can afford to trade at IG is on MT4, then where's the incentive to stay around? I suppose that's the IG model, to chuck the small fish like me back in the pond. Making this forthcoming minimum hike clear on signup would at least have been the decent thing to do. To be honest, even though I was planning to make a five-figure deposit, I don't think that will enough to manage risk properly on 1 and 0.5 contract minimums. And even if it is, I don't think my cash will be coming IG's way now.