Jump to content

ISA Accounts - Stop Loss Orders not available on Dollar Denominated ETFs trading on the LSE


Recommended Posts

Anyone who has read my other post on placing a stop loss order will know that I expressed my frustration about not being able to place simple "one cancels the other" orders. I did establish that to place a stop loss order one has got to place a separate "on exchange" sell order. However, after having purchased an ETF this week which is denominated in dollars I was further exasperated to find out that the platform does not even allow one to do this!

 

Any chance of getting this fixed IG?

 

Whilst I am here I would like to mention to the community that if you are considering the purchase of an ETF or even an equity for that matter. I would suggest you bring it up on the platform and try and get a quote for it first to see if it is tradeable. I had been monitoring an ETF for awhile and when I tried to buy I got an error message telling me it was not inside their tax wrapper. Consequently, it took a call to the office and a delay in getting it enabled for trading. I had no doubt it was eligible as it was UCITS directive approved.    

Link to post

Hi , thanks for the post last week.

 

OCO orders and GTC sell orders across all exchanges are still something that we are working on and hope to introduce within the new web trading platform, which should be rolled out in the coming months.  Apologies this is not yet available, but please do keep providing feedback and suggestions as this is the best way we find out about what our clients want and need.

 

Thanks for your patience here!

Hannah

Link to post

Thanks for your reply Hannah.

 

I hope you and all the staff at IG had a nice Christmas and likewise to the community here.

 

It's nice to know there is a light at the end of the tunnel. For me, I will not be trading anything which is not denominated in dollars until the new orders are available. This is obviously very restrictive but I have sorted out some ETFs I may trade which are tradeable in GBPs so I will be able to place stops for now. 

 

There are a couple of ETPs which are UCITS compliant which I would like you to add to both the ISA and betting platform. The addition to the betting platform primarily so that I will be able to see a PRT chart:-

 

Boost WTI Oil 2x Leveraged Daily ETP, ticker symbol 2OLI and the short version ticker symbol 2OSI

 

While I'm here, it may be useful for me to mention that I noticed that the ticker symbol on the Boost WTI 3x short Daily ETP was incorrectly listed in PRT charts as 3SOI. The correct symbol is 3OIS, no great shakes just that anyone searching in the charting package by the ticker symbol alone will think it is not available.

 

Thank you all for your work this year and I wish everyone, staff and the community, all the best for the new year.  

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      15,117
    • Total Posts
      73,107
    • Total Members
      61,424
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    dk528
    Joined 05/05/21 22:32
  • Posts

    • Hi  For those interested in the Video Gaming industry we recently interviewed the product manager for VanEck Video Gaming & Esports ETF to talk about how the industry will perform as lockdown measures start to ease and what is fueling future growth https://blubrry.com/igtradingthemarkets/74972956/how-investors-can-profit-from-the-growing-video-gaming-and-esports-industry/   Are there any other exciting sectors you would like to see covered on the podcast by an industry expert?
    • Yes I am aware that I have selected the guaranteed stop level as I have been for a while in preparation for when the live account is approved, the live account will have to use a guaranteed stop on each trade, which I think is a good idea as it reduces exposure to risk and the margin required as it is a controlled risk as apposed to an uncapped or un controlled risk. Normally the stop limit on this trade is a minimum of 8 points, in this screen shot it it is set at 30 points which has increased the required margin to $1775, when it is at 8 or 10 the margin would be around $1300. If I set the stop to 139 points the margin will increase to $17,000 or more, obviously blocking the trade with a $10,000 account fund. Thank you for your suggestion,  however it isn't because I have selected a guaranteed stop as I normally do. having given this some thought, I guess if there is excessive price volatility / uncertainty, as there is when the price is at 1.39000 the system sets the GSL very high for protection, the price could easily run away, that being said if it was hit at 139 it would lead to a massive loss, maybe $7000.  
    • Hi guys.  Wanted to thank you guys for viewing my posts and hope you have found it helpful . If anyone has any feedback as to how I can improve them to provide more help please shoot them here.   God Bless CA
×
×
  • Create New...