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10/06/21 10:53
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By Captainsaudi · Posted
Recently, Bybit shockingly announced the suspension of its services to the UK region due to strict regulatory measures by the region. This action by Bybit could further discourage crypto adoption, which is necessary for developing this industry. Strict regulations have continued to deprive crypto access/adoption to many users for a while. The regulatory bodies normally claim their action is in the interest of their citizens (to protect them from unsuspecting activities that could harm them) while some exchange feel this action is a sinister attack on them so the decision to suspend their service to such region. One question boggled my mind; i) Why can't exchange blend to those regulations? iii) Why are other exchanges surviving in such a region? The crypto industry is still young as such we expect some challenges and differences in opinions but finding a common ground that will ensure its development and growth should be paramount. That is why I feel exchanges and regulatory bodies need to work together for the betterment of this industry. While waiting for that scenario to play out which other exchange will you suggest for the users affected by this decision to use and what are your opinions on this strict regulations -
hello, just tried IG sinals Intraday and short term and lost £200 ish.. anyone used them ? any help or feedback ? -
Dow, Nasdaq 100 and CAC40 struggle in early trading Indices are under pressure again as oil prices and bond yields continue to rise. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 28 September 2023 11:38 Dow eats into Wednesday’s recovery The index briefly slumped to its lowest level since early June yesterday, heading towards the 33,230 level. A rebound from the lows helped to avoid another weak close but the general bearish move remains firmly in place. More losses target the May lows around 32,700. Buyers will be looking for a move back above 33,827 and the 200-day simple moving average (SMA) to suggest that a low has formed. Intraday movement has been capped by the 50-hour SMA over the past week. Source: ProRealTime Nasdaq 100 bounce fizzles The index managed to eke out a small rally yesterday off the lows, but has struggled to push higher in early trading this morning. This has put the price back above the August low of 14,553, so if this holds buyers may attempt to wrest control and drive the index back towards 15,000. A close back below 14,550 would mark a bearish development, potentially open the way towards the June lows at 14,230. Source: ProRealTime CAC40 stuck below previous support After falling just below the 7100 support zone earlier in the week, the index has managed to avoid any further steep losses for the time being. The March lows at 6900 beckon in the event of a fresh drop, while on the upside 7100 could act as resistance in the short-term now it has been broken as support. A longer-term bullish view would require a close back above 7200. Source: ProRealTime
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Question
Vina
Hello Team
I am new to this platform and new to spread betting as well. So apologies if I am making some silly mistake here.
I opened up a demo account and I have £9943 of virtual currency still left. I was looking up the price of Amazon to understand how an US based stock bet works. I have a few questions:
1. I realized that that the price was showing up as 269004.0 and I cross checked against CNBC to find that the price was $2690.40. So I am assuming that the price being shown on IG is really in cents. Am I correct?
2. I tried to place a very small bet - £0.5 per point - and the margin requirement was shown as £26,886.40. When I tried to still place a deal, it told I had insufficient funds and I had to deposit £17,043 in my account to proceed. If the price of Amazon is $2690 and I am betting only £0.5 per point, I would expect the margin requirement to be 20% of $2690 and this should be covered by the £9943 virtual money still in my account. Am I missing something here?
3. When my base currency is GBP and I am dealing in US stocks, am I right in assuming that the currency conversions happen at 2 points - when I place a bet and again when I exit the bet? I am trying to understand the currency risk here.
Thanks a lot in advance.
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