Closing account

[Mustang1965]

I have a spread betting account worth a very small amount - approx £60.

£48 (approx) of this is tied up in a position that is not tradable as the company is suspended. 

I would like to close the account however cannot so so with this open position. However obviously cannot close the position.

I am happy to forfeit the small amount of money that is “invested” in this position, along with the £12 odd that is in my account. I just want to close my account - not had a bad experience just had a change of circs and am looking to simplify things.

Is it possible to have to the position “deleted” or do I literally have to wait until when (if?) the company is re listed on the stock market?

Many thanks in advance.

[nit2wynit]

Hi, Mustang, it's disappointing that you have had no reply to this.

You need to call in to have the position closed.  I too have had this happen a few times and have one currently on my books that has been removed.  I am hoping it will return with a vengeance however.

[ArvinIG]

On 22/04/2022 at 23:04, Mustang1965 said:

I have a spread betting account worth a very small amount - approx £60.

£48 (approx) of this is tied up in a position that is not tradable as the company is suspended. 

I would like to close the account however cannot so so with this open position. However obviously cannot close the position.

I am happy to forfeit the small amount of money that is “invested” in this position, along with the £12 odd that is in my account. I just want to close my account - not had a bad experience just had a change of circs and am looking to simplify things.

Is it possible to have to the position “deleted” or do I literally have to wait until when (if?) the company is re listed on the stock market?

Many thanks in advance.

Hi @Mustang1965,

You can find information on delisted or suspended stocks here:
https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/market-details/what-happens-if-the-stock-i-am-trading-delists

If you wish to close the position you will need to call in and speak to a dealer to close it manually.

Technically they only able to close the position once it is deemed worthless.

All the best - Arvin