Jump to content

Question about how profit is added to account


Recommended Posts

Hi all, complete noob to trading - I've been playing with a demo account for a few weeks, today opened a live Spread Betting account.

Dipping toes very cautiously into water as follows:

  • Deposited £250
  • Opened a position at 25p per point to short the FTSE (sell at 5942.2)
  • Closed the position (buy at 5936.9)
  • Notification stated £1.33 profit as expected
  • However funds now read £250.13, ie only 13p of profit.

How come the full £1.33 wasn't added?

 

Link to comment
16 hours ago, MrMicawber said:

Hi all, complete noob to trading - I've been playing with a demo account for a few weeks, today opened a live Spread Betting account.

Dipping toes very cautiously into water as follows:

  • Deposited £250
  • Opened a position at 25p per point to short the FTSE (sell at 5942.2)
  • Closed the position (buy at 5936.9)
  • Notification stated £1.33 profit as expected
  • However funds now read £250.13, ie only 13p of profit.

How come the full £1.33 wasn't added?

 

Thanks for your post. 

You're correct the profit on the account should be (5942.2 - 5936.9) x 0.25 giving you a profit of £1.33. 

If this is not reflecting on your account please reach out to our help desk on helpdesk.uk@ig.com so they can look into this. 

All the best 

  • Thanks 1
Link to comment
55 minutes ago, CharlotteIG said:

....

You're correct the profit on the account should be (5942.2 - 5936.9) x 0.25 giving you a profit of £1.33. 

If this is not reflecting on your account please reach out to our help desk on helpdesk.uk@ig.com so they can look into this. 

....

Thanks for this - but I think it's ok.  I did some further research, and discovered the Trading Analytics function under 'My IG'. 

This referenced the adjustment, and I now understand how Dividend Adjustments work!  I had closed the position a little after 4.30pm and hadn't understood the significance of this.

So the discrepancy was just a consequence of my ignorance.  I clearly have a lot to learn!

 

Edited by MrMicawber
  • Like 2
Link to comment

Check out the weekly dividend post (at the top of the forum), if you're short the FTSE on c^m-dividend day then you will get whopped with a fee at 16:30 in addition to the daily interest fee.  (But if you're long, you will be credited the dividend at 16:30 😇 )

Edited by dmedin
  • Thanks 2
Link to comment
2 minutes ago, dmedin said:

Check out the weekly dividend post (at the top of the forum), if you're short the FTSE on c^m-dividend day then you will get whopped with a fee at 16:30 in addition to the daily interest fee.  (But if you're long, you will be credited the dividend at 16:30 😇 )

Cheers!  Yes, I discovered that post too after a bit of searching.

  • Great! 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,085
    • Total Posts
      92,934
    • Total Members
      42,475
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    IPS Temp Admin
    Joined 06/10/22 15:40
  • Posts

    • Hi @AndaIG, Please could the [LOUP] Innovator Deepwater Frontier Tech ETF be listed and made available for the ISA tax wrapper, pretty please? Many thanks, Sam
    • Look ahead to 31/5/23: China PMI; France GDP; Germany CPI Economic data is key on Wednesday. It starts in Japan with retail sales, followed by Chinese PMI.  Jeremy Naylor | Analyst, London | Publication date: Tuesday 30 May 2023  IGTV’s Jeremy Naylor looks at the chances that the Chinese yuan will weaken further as it becomes more and more obvious that the recovery in China is further away than initially expected. Then in the eurozone we’re looking at the CAC 40 and DAX as growth and inflation data is released. The only corporate on the schedule is from stationers, WH Smith.          
    • Charting the Markets: 30 May FTSE 100 lower while DAX moves higher in early trading, and Dow looks to edge up following reports of debt ceiling deal. EUR/USD declining and USD/JPY holding firm, while GBP/USD begins to show signs of a higher low. Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 30 May 2023  Gold’s pullback slows down, while Brent crude turns lower and natural gas struggles to hold the 50-day MA.               This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
×
×
  • Create New...