Problem with money per point spread betting

[Hussaruk]

hi all, I've been spread betting on forex for a few months. I've been using mt4 for the last month using small money as I learn. I generally use 0.10 per point which is equivalent to 10 pence per point. 

I've been upping the amount as I learn, and won a few trades at 0.50 per point. 

Then a really good opportunity presented itself and I decided to go for £1 per point.

Here is my problem. With a 2 point spread, 0.10 puts me at - 0.20p when I open a trade. 0.40 puts me at -0.80 when I open a trade etc etc

When I tried to do £1 per point ... inputting 1.00, it opened me at - £20.00 and not -£2.00 as I would expect.

It seems that on the demo account it works, but that is for demo CFD not spread betting.

I hope I've made sense... I want to input £1.00 per point, but the platform acts as if it's £10.00 per point.

Thanks all

[dmedin]

Is this for real or on the demo platform?  Definitely something wrong there.  Apparently with CFDs you get charged commission for dealing in shares, so it's even weirder that the CFD would appear cheaper than the spread bet.

[Caseynotes]

On 03/08/2020 at 23:24, Hussaruk said:

hi all, I've been spread betting on forex for a few months. I've been using mt4 for the last month using small money as I learn. I generally use 0.10 per point which is equivalent to 10 pence per point. 

I've been upping the amount as I learn, and won a few trades at 0.50 per point. 

Then a really good opportunity presented itself and I decided to go for £1 per point.

Here is my problem. With a 2 point spread, 0.10 puts me at - 0.20p when I open a trade. 0.40 puts me at -0.80 when I open a trade etc etc

When I tried to do £1 per point ... inputting 1.00, it opened me at - £20.00 and not -£2.00 as I would expect.

It seems that on the demo account it works, but that is for demo CFD not spread betting.

I hope I've made sense... I want to input £1.00 per point, but the platform acts as if it's £10.00 per point.

Thanks all

Hi, not clear what you have done.

The mt4 demo used to have a quirk in that £0.10/point was 0.01 lots but the Live £0.10/point was 0.10 lots.

The live lots won't go down below 0.10 while the demo goes down to 0.01 lots, but both work out at £0.10/point.