Margin advice

[Matjoss]

Hi, I am new to trading forex & the IG demo platform.

When I place a trade risking only £10 I need a margin of £3300 ish. Is this due to leverage? If so can leverage be removed on the demo account?

Also is there a good website I can look at for trade platforms for beginners. All I get when I search is things like What is Forex trading etc. I want to learn everything about the platform and why sometimes a trade goes past my limit by 3 candles but does not end the trade with a profit but then as soon as it gets near the stop loss closes out straight away...lol

Cheers
Matt

[AndaIG]

Hi @Matjoss

Thanks for reaching out, 

By the sounds of it your trade size was GBP10 per point. That means you make GBP10 for each point movement in your favour or lose GBP10 for each point movement against you. Yes the demo uses leverage, hence the margin that was set aside for the trade. We do not offer non-leverage demo's. However we do have live share dealing/ ISA accounts without leverage. See details here: https://www.ig.com/uk/investments/share-dealing

Have a look at our IG Academy, it is useful when you just stating out. 

All the best, 

Anda

[MarkBerg]

Yes, leverage is to blame. On a demo account, you can change the leverage depending on what you are trading. For example, the leverage for Forex can be changed from 1:1 up to 1:200. If you want to learn more about the platform, IG has a lot of ways to do so, such as webinars and trading courses. Check out their website or online help center to find them. You can also read articles and watch videos that other traders who have used the IG platform have made.