Jump to content

Bought and sold shares a thte same price but money back to me was £10 less.


Recommended Posts

Hi, I've been Trading every day for a while now.  Several Buy and Sell activity within a day using my Share Dealing Account.  From what I understand there are No Charges if i traded 3 times the previous month.  I do this daily!

I notice a lot of issues and my account is failing fast.  I recently bought Pinterest at a certain price.  The price is clear on my statement. As time passed I decided to get out and my Sell price was exactly the asme as by Buy price, but money back to me was short £10.

Can anyone explain what is happening?  I'm down over £200 this week getting in and out of trades.  For all I know it's been happening since I started trading.

I recently received a Statement from IG suggesting they have acrued over £1200 from me last year.  I'd like to know how.

Thanks.

Edited by nit2wynit
Link to comment
7 hours ago, nit2wynit said:

OH DEAR GOD.

Is it the exchange rate conversion and/or 0.5% spread?

I had NO IDEA........I've lost thousands Trading like a Maniac every day!

Still learning.

Can this be confirmed please?  Thanks.

Hi @nit2wynit,

There is effectively a 0.5% Foreign exchange fee :
image.png

The 3+ trades rebate is on commission, more details here.

 image.png

You can change you Currency conversion settings in My IG > Live accounts > Currency conversion
If you change to manual conversion you will be able to hold foreign currencies to then buy other stock or convert when you want to withdraw funds. But the commission rebate won't apply as mentioned above.

image.png

 

I hope that it helps !

All the best - Arvin
 

 

  • Like 1
Link to comment

Thanks @ArvinIG

Looks like I figured it all out in the end.  Now I know why my account hasn't grown since I started Day Trading instead of Swing Trading.

Given all my profits from last week away.

They say it takes 3 years to learn to trade Effectively.  I should have it nailed by the end of 21 :D

Edited by nit2wynit
  • Like 1
Link to comment
  • 2 weeks later...
3 hours ago, amilio said:

is that mean no more exchange fee?

Hi @amilio,

As mentioned above, on a share dealing account if you switch to manual conversion your commission will change but you will be holding USD, therefore you won't have exchange fee until you decide to convert back to GBP to withdraw for example.

Please refer to the link on the post above.

All the best - Arvin

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

    • Yes I agree Guru, giving current examples is a good way of doing it! I have been trading for over 20 years and in the last 11 years I found myself mainly trading DAX (Germany) 40, because it is the easiest and most profitable. Which market do you find easiest to trade, Guru? Does anybody else find DAX easier to trade than other markets?  I am interested in hearing other traders' experiences.
    • Source: Coingecko  Source link: https://www.coingecko.com/research/publications/2024-q1-crypto-report The cryptocurrency sector has experienced significant growth in 2024, driven by events like Lugano city's acceptance of crypto payments and the approval of the Bitcoin spot ETF. The industry's market cap reached a record high of $2.9 trillion, with $1.1 trillion added in Q1 alone. Bitcoin surged to a new peak of $73k, surpassing its previous ATH of $68k. Top centralized exchanges like Binance, Bitget, OKX, and Bybit saw substantial growth, with Bitget particularly excelling in derivative trading. Bitget's open interest exceeded OKX's and ranked closely behind Binance and Bybit. Spot trading volume surged from $29B in January to $95B in March, elevating Bitget to the top 7 spot in the spot market and maintaining the 4th position in the derivative market among major centralized exchanges. While other exchanges also witnessed significant growth, Bitget's standout performance has made it the focal point of industry attention. What are your impressions of these findings?
    • DogeDay always brings back memories of 2019 when my friends were diving into Dogecoin and joining farming activities. That's why I'm excited to explore the Bitget DogeDay giveaway event. Plus, with tomorrow's BTC halving, the excitement is doubled!
×
×
  • Create New...
us