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Why can’t I trade CFD’s?


Itsbecauseofthem

Question

I’ve been practicing on the CFD market on the demo, since regular markets take far too long to drop or rise. 
 

however when I opened a ‘proper’ account it won’t let me buy or trade CFD’s. I heard you need 10k in order to trade? Fair enough. I also heard you need 500k, I find that ridiculous.

 

how do I open a CFD account, this is driving me nuts!

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10 minutes ago, Itsbecauseofthem said:

I’ve been practicing on the CFD market on the demo, since regular markets take far too long to drop or rise. 
 

however when I opened a ‘proper’ account it won’t let me buy or trade CFD’s. I heard you need 10k in order to trade? Fair enough. I also heard you need 500k, I find that ridiculous.

 

how do I open a CFD account, this is driving me nuts!

Hi, you don't say what account type you have opened. In your 'My IG' page there should be a blue box 'open an account' with all the different accounts available listed, choose cdf live and follow the instuctions, you need to be accepted on proof of income and what ever. I think £250 is the min add funds but will need probably twice that for margin to trade even the cheapest markets.

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2 hours ago, Caseynotes said:

Hi, you don't say what account type you have opened. In your 'My IG' page there should be a blue box 'open an account' with all the different accounts available listed, choose cdf live and follow the instuctions, you need to be accepted on proof of income and what ever. I think £250 is the min add funds but will need probably twice that for margin to trade even the cheapest markets.

Hi, this is the problem, it only allows me to choose "share trading", there's nothing else, what do I do?

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22 minutes ago, Itsbecauseofthem said:

Hi, this is the problem, it only allows me to choose "share trading", there's nothing else, what do I do?

There are more stringent critera for opening a levearged acount as you only laying down a small portion of the full cost. If not listed in your My IG page try the web site route. (if trading in the IK check the page for difference between CFD and Spread Bet account).

Open a CFD Account | Trade with the UK's Top CFD Provider | IG UK

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5 minutes ago, Caseynotes said:

There are more stringent critera for opening a levearged acount as you only laying down a small portion of the full cost. If not listed in your My IG page try the web site route. (if trading in the IK check the page for difference between CFD and Spread Bet account).

Open a CFD Account | Trade with the UK's Top CFD Provider | IG UK

'trading in the UK not IK 

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32 minutes ago, Caseynotes said:

There are more stringent critera for opening a levearged acount as you only laying down a small portion of the full cost. If not listed in your My IG page try the web site route. (if trading in the IK check the page for difference between CFD and Spread Bet account).

Open a CFD Account | Trade with the UK's Top CFD Provider | IG UK

Arghh! This is so frustrating! I'm based in Australia by the way, it keeps trying to get me to make a new account, and support isn't answering my emails.

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14 minutes ago, Itsbecauseofthem said:

Arghh! This is so frustrating! I'm based in Australia by the way, it keeps trying to get me to make a new account, and support isn't answering my emails.

The accounts are all seperate and as said there are differing critera for leveraged and non-leveraged so you do need to create a new account.

If starting with a share account you need more personal info for a leveared account but adding a share account when you already have a cfd account there is no extra docs needed.

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21 hours ago, Caseynotes said:

The accounts are all seperate and as said there are differing critera for leveraged and non-leveraged so you do need to create a new account.

If starting with a share account you need more personal info for a leveared account but adding a share account when you already have a cfd account there is no extra docs needed.

I've just tried opening another account, they locked it. I feel like I keep hitting a wall here, I've had to make 2 new accounts now, because support will not answer emails or the phones.

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1 hour ago, Itsbecauseofthem said:

I've just tried opening another account, they locked it. I feel like I keep hitting a wall here, I've had to make 2 new accounts now, because support will not answer emails or the phones.

ok, you should be able to open a cfd account as well as your share dealing account though it takes time because of the additional paper work you need to supply.

Maybe @CharlotteIG can pass a message on to IG Australia for you?

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On 19/02/2021 at 12:35, Caseynotes said:

ok, you should be able to open a cfd account as well as your share dealing account though it takes time because of the additional paper work you need to supply.

Maybe @CharlotteIG can pass a message on to IG Australia for you?

Thanks @Caseynotes :) 

On 20/02/2021 at 01:33, Itsbecauseofthem said:

If she could do that that would be great.

Hey, 

When you open a CFD account sometimes additional information is needed before we can open it. From what I can see it looks like your CFD account was declined after 45 days. Could you kindly attempt to open another CFD account from the MyIG page. I will contact someone in our AUS office to reach out to you and assist you with opening one up if you can't open it from MyIG.

All the best. 

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12 hours ago, CharlotteIG said:

Thanks @Caseynotes :) 

Hey, 

When you open a CFD account sometimes additional information is needed before we can open it. From what I can see it looks like your CFD account was declined after 45 days. Could you kindly attempt to open another CFD account from the MyIG page. I will contact someone in our AUS office to reach out to you and assist you with opening one up if you can't open it from MyIG.

All the best. 

Hi, I tried to open another CFD account but it isn't there for me to select. I did try creating another account, however, it was declined and it said I already had an account and suspended the account I tried to create.

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On 22/02/2021 at 22:13, CharlotteIG said:

Thanks @Caseynotes :) 

Hey, 

When you open a CFD account sometimes additional information is needed before we can open it. From what I can see it looks like your CFD account was declined after 45 days. Could you kindly attempt to open another CFD account from the MyIG page. I will contact someone in our AUS office to reach out to you and assist you with opening one up if you can't open it from MyIG.

All the best. 

Hi Charrlotte, for some reason my application keeps getting rejected. What is it exactly that I'm missing? Aren't there systems in place from preventing me from trading any further than what I can afford? Yet I'm still not allowed to trade with CFD's??

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On 27/02/2021 at 07:10, Itsbecauseofthem said:

Hi Charrlotte, for some reason my application keeps getting rejected. What is it exactly that I'm missing? Aren't there systems in place from preventing me from trading any further than what I can afford? Yet I'm still not allowed to trade with CFD's??

I will get someone to give you a call on Monday/ Tuesday. 

All the best 

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