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Demo account automatic currency conversion


Guest A. Guest

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Guest A. Guest

Hello,

I signed up for a demo account a few days ago on https://www.ig.com/ie and I noticed that instead of having 10K virtual  EUR in my account, my funds were showing 8398 EUR from the start. Before even starting to do any transactions. The displayed currency sign for the funds is the EUR sign. However, in the deposit history the virtual deposit had the following description: "Bank Deposit converted at 0.8398".

Was the 10K EUR converted to 8398 GBP, even though the funds have the EUR sign displayed next to them everywhere in my demo account?

Is GBP the default currency for the demo account even if I signed up using the https://www.ig.com/ie site? If it is GBP then why is the EUR sign displayed for my virtual funds?

Will this strange "conversion" also occur when I sign up for a live account, practically costing me more than 1K EUR just for signing up and depositing 10K EUR? :)

Also, do transactions on the demo accounts include currency conversion charges in the PL number?

 

Any clarification would be greatly appreciated :)

Thank you,

A.

 

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