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 post
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 post

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 post
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 post

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
      13,697
    • Total Posts
      68,374
    • Total Members
      57,276
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    Bellerophontes
    Joined 21/01/21 08:06
  • Posts

    • Shock Breaking News, 'No evidence of decline' in Covid-19 rates in England's third lockdown'. So, third lockdown and vaccinations making no impact on the number of PCR false positive test results 🤪. The solution is obvious, quadruple down with harder restrictions. "We've really got to double down on the public health measures'' Elliott said. (I already said that bit for ya, saw it coming a mile away 🙂)   'No evidence of decline' in Covid-19 rates in England's third lockdown (livemint.com)   .
    • Set to expand? IGSquawk  @IGSquawk 9m IG GROUP TO BUY TASTYTRADE FOR TOTAL CONSIDERATION $1.0B -Bbg
    • hahaha, and now ... Dylan Davidson @dyl_davidson Holy ****, on the day Biden is sworn in, WHO advises laboratories around the world to reduce the cycle count in PCR Covid testing, which will result in fewer positives!!  WHO Information Notice for IVD Users 2020/05   If you have been reading the thread you will know the high cycle threshold in use for the PCR was a major cause of the very high ratio of false positives (50 - 80%) (if you haven't already have a listen to the 16 min podcast (linked in quoted post) where Harvard Prof explains the different uses for the PCR and the Lateral Flow tests and why we should be using the quick and cheap LFT).
×
×
  • Create New...