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Profit wrongly calculates stock split as 100% profit


matt_balsh

Question

This has happened to me multiple times, most recently for example, Google's recent 20-1 stock split. 

I held Google shares and had a specific profit on that. After the stock split, IG counted it as a "sale of all my shares for $0" and a "purchase of all the new shares for $0".

This is clearly a problem, because now that I have "bought a bunch of google shares for $0", my profit calculation for my overall account is way off. IG should either ignore profit on these shares or figure out a way to correctly determine profit.

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4 minutes ago, matt_balsh said:

This has happened to me multiple times, most recently for example, Google's recent 20-1 stock split. 

I held Google shares and had a specific profit on that. After the stock split, IG counted it as a "sale of all my shares for $0" and a "purchase of all the new shares for $0".

This is clearly a problem, because now that I have "bought a bunch of google shares for $0", my profit calculation for my overall account is way off. IG should either ignore profit on these shares or figure out a way to correctly determine profit.

Hi @matt_balsh,

Thank you for your post. 

When a Corporate Action happens, our team will need to sell your shares at 0 and rebook them with the right amount of shares. 

You P/L will show incorrectly as you will need to adjust your book cost.

To do so, please follow the link below:
https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/how-do-i-edit-my-book-cost

I hope that it helps !

All the best - Arvin

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