AAPL & TSLA stock split

[Caseynotes]

IGSquawk  @IGSquawk

6m

To all IG clients with $TSLA & $AAPL positions, we intend to book the stock splits throughout the morning. Should you see your shares temporarily booked off - please don't worry.

[dmedin]

What does 'booked off' mean?  Is it a bit like saying 'f*ked off'?

[ThomasCoote]

On 29/08/2020 at 08:15, Caseynotes said:

IGSquawk  @IGSquawk

6m

To all IG clients with $TSLA & $AAPL positions, we intend to book the stock splits throughout the morning. Should you see your shares temporarily booked off - please don't worry.

What does this actually mean?

 

I opened a position on my demo spread betting account expiring Sep 20. Log in this morning to see the position hit my stop loss when the AAPL split happened this morning. £2500 down.

 

I very nearly opened this trade on my live account but thankfully decided to test the waters first with the demo. What actually happened here? No new position had been opened for me, just my exisiting position closed with £2500 down.

[Caseynotes]

On 31/08/2020 at 11:40, ThomasCoote said:

What does this actually mean?

 

I opened a position on my demo spread betting account expiring Sep 20. Log in this morning to see the position hit my stop loss when the AAPL split happened this morning. £2500 down.

 

I very nearly opened this trade on my live account but thankfully decided to test the waters first with the demo. What actually happened here? No new position had been opened for me, just my exisiting position closed with £2500 down.

not sure what may have happened on demo, maybe someone else can comment.

https://www.investopedia.com/ask/answers/what-stock-split-why-do-stocks-split/

[dmedin]

On 31/08/2020 at 11:40, ThomasCoote said:

What does this actually mean?

Quite ...

[Hadyn]

On 29/08/2020 at 15:16, Hadyn said:

Tesla closing price was 2213.40 USD.  After Hours Trading was 2216.99. Why does my account show 2209.99 please? Thank you. H

Just wanted to confirm my account was correct when markets opened on Monday. Thanks to the IG guys and girls who worked over the Bank Holiday weekend to fix everything following the Tesla Stock Split.

[ThomasCoote]

To follow up to my previous comment, I spoke to IG on the phone and they confirmed that demo accounts do not handle corporate actions well, including stock splits. 

 

I feel this should be made abundantly clear without having to dig through the forums or call customer service. I was trialling some trades I'm thinking of opening on my live account, and seeing a sharp loss on them on my demo account with no explanation given at the time does not fill me with confidence in leaving long dated positions open. 

[Caseynotes]

47 minutes ago, ThomasCoote said:

To follow up to my previous comment, I spoke to IG on the phone and they confirmed that demo accounts do not handle corporate actions well, including stock splits. 

 

I feel this should be made abundantly clear without having to dig through the forums or call customer service. I was trialling some trades I'm thinking of opening on my live account, and seeing a sharp loss on them on my demo account with no explanation given at the time does not fill me with confidence in leaving long dated positions open. 

why? of the thousands who were holding aapl and tsla stocks in their live accounts no one has come on the forum citing any problem after the weekend split. No demo account of any broker can behave exactly as the live in all situations.

[ThomasCoote]

1 minute ago, Caseynotes said:

why? of the thousands who were holding aapl and tsla stocks in their live accounts no one has come on the forum citing any problem after the weekend split. No demo account of any broker can behave exactly as the live in all situations.

Are you asking why I think it should be made clearer that demo accounts and live accounts don't behave the same way with stock splits? 

 

Why not? 

[Caseynotes]

1 minute ago, ThomasCoote said:

Are you asking why I think it should be made clearer that demo accounts and live accounts don't behave the same way with stock splits? 

 

Why not? 

Probably comes under the 'out of hours' price movement section in the linked page below.

https://www.ig.com/uk/help-and-support/accounts-and-statements/my-accounts/how-does-a-demo-account-differ-from-a-live-account

[dmedin]

16 minutes ago, Caseynotes said:

why? of the thousands who were holding aapl and tsla stocks in their live accounts no one has come on the forum citing any problem after the weekend split. No demo account of any broker can behave exactly as the live in all situations.

Out of IG's 250,000 clients how many come on this forum, Tom?

[Caseynotes]

1 minute ago, dmedin said:

Out of IG's 250,000 clients how many come on this forum, Tom?

as is the case when a rare major outage occurs hundreds pop up on the forum within minutes.