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
  • image.png

  • Posts

    • I've developed an initial version of a market sentiment checker, which utilizes the concept of weighted log returns to gauge the mood of the financial markets. This tool is designed to simplify the complex task of assessing market sentiment by analyzing fluctuations in price data. By applying weights to log returns, it emphasizes the significance of certain data points over others, offering a more nuanced view of market dynamics. This approach allows for a fundamental analysis of market sentiment and provides insights into the current state of the market at any given moment. It serves as a valuable tool for investors and traders looking to make informed decisions based on the underlying sentiment driving market movements. sentiment-sleuth - Github Link
    • Demo account: Please note that conditions on demo accounts may differ from real accounts. Some brokers may only provide overnight loans on real accounts and not on demo accounts.
    • Swap Rate: Check the swap rates for your open positions. Overnight loans are calculated based on the difference between the interest rates of a currency pair, and if the difference is small or negative, you will not receive a loan.
×
×
  • Create New...
us