Order Level.....

[BDS]

If I order a spread bet overnight, and order level of (for example) plus 20, but the share in question opens at +5, is IG compelled to buy it for me at +5, or can they sell it to me at a higher price, say +15 and thus make some margin of their own?

[ArvinIG]

2 hours ago, BDS said:

If I order a spread bet overnight, and order level of (for example) plus 20, but the share in question opens at +5, is IG compelled to buy it for me at +5, or can they sell it to me at a higher price, say +15 and thus make some margin of their own?

Hi @BDS,

IG can only book deals at market price. The dealing desk can't place a deal at for example 110 while the current price is 100 and use the 10 points as profit. The only revenue is made on commissions.

If you place an limit or stop order for your order to be triggered at specific levels.

More information here : https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/orders--stops-and-limits/what-is-the-difference-between-a-stop-and-limit-order

All the best - Arvin