Jump to content

Question about overnight fee's


Recommended Posts

Regarding the overnight fee's, IG's website says that any trades past 10pm will incur this additional charge.

 

However, I was wondering what's would stop someone from closing their position at 9.59pm, and then reopening the position at 10.01pm, or is this charge applied to any position open from 10pm until the opening the next day?

Link to comment
16 hours ago, Keeling said:

Regarding the overnight fee's, IG's website says that any trades past 10pm will incur this additional charge.

 

However, I was wondering what's would stop someone from closing their position at 9.59pm, and then reopening the position at 10.01pm, or is this charge applied to any position open from 10pm until the opening the next day?

Hi, day traders open and close during the day no problem, you keep paying the spread is all,  however if IG considers your repeated 'style' of trading is taking an unfair advantage people have reported you will likely get a polite email telling you to stop it or ------ off.

Link to comment

https://www.youtube.com/watch?v=FYlZd__XFroMost of the time it would be like when Homer Simpsons bought bacon to make money on selling grease😎

Maybe when trading forex on a wednesday?

"Most banks across the globe are closed on Saturdays and Sundays, so there is no rollover on these days, but the banks still apply interest on these days. To account for that, the forex market books three days’ worth of rollover interest on Wednesdays. "

 

https://www.dailyfx.com/education/why-trade-forex/understanding-forex-rollover.html

 

https://www.youtube.com/watch?v=FYlZd__XFro

 

Edited by Kodiak
Link to comment
2 hours ago, Kodiak said:

https://www.youtube.com/watch?v=FYlZd__XFroMost of the time it would be like when Homer Simpsons bought bacon to make money on selling grease😎

Maybe when trading forex on a wednesday?

"Most banks across the globe are closed on Saturdays and Sundays, so there is no rollover on these days, but the banks still apply interest on these days. To account for that, the forex market books three days’ worth of rollover interest on Wednesdays. "

 

https://www.dailyfx.com/education/why-trade-forex/understanding-forex-rollover.html

 

https://www.youtube.com/watch?v=FYlZd__XFro

 

Doh! Maybe I should have thought it through a bit more aha.

Not been having much luck instraday atm, so was going to try and take advantage of moves that last multible days, and so was wondering about overnight charges. But like you said, it's proably cheaper than the spread anyway. Cheers

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
      22,150
    • Total Posts
      93,045
    • Total Members
      42,540
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Thomas0012
    Joined 08/06/23 05:01
  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, 8 June 23,   TRON/U.S.dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Follow trend     Mode: Motive Structure: Impulse Position: Wave III Direction Next higher Degrees: wave (I) of Impulse Wave Cancel invalid Level: 0.045 Details: Wave III is usually equal to 1.618 multiplied Length of Wave I. TRON/U.S.dollar(TRXUSD)Trading Strategy: TRON is still in an uptrend. But there may be a correction in wave ((2)) before rising again, So Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)). TRON/U.S.dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here!   Elliott Wave Analysis TradingLounge 4H Chart, 8 June 23,   TRON/U.S.dollar(TRXUSD) TRXUSD Elliott Wave Technical Analysis Function: Follow trend     Mode: Motive Structure: Impulse Position: Wave ((2)) Direction Next higher Degrees: wave III of Impulse Wave Cancel invalid Level: 0.0714 Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) TRON/U.S.dollar(TRXUSD)Trading Strategy: TRON is still in an uptrend. But there may be a correction in wave ((2)) before rising again, So Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)). TRON/U.S.dollar(TRXUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.
    • Look Ahead to 8/6/23: eurozone, Japan growth; US initial jobless claims; Crest Nicholson, MITIE earnings Growth is in focus as investors await eurozone and Japan GDP data, plus keep an eye out for US initial jobless claims ahead of the Fed monetary policy meeting next week. Crest Nicholson and MITIE post results. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Wednesday 07 June 2023              
    • With the price of Brent having failed between $77.50 and $78.50 three consecutive times in the past month, we will go short at $76.70 with a downside target at $72.00 and a stop-loss at $78.55 on a daily chart closing basis. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 07 June 2023
×
×
  • Create New...