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IG platform is still not fixed and locking me out for 50 mins unable to trade, lost so much money!
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Someuser,
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By tradinglounge · Posted
Elliott Wave Analysis TradingLounge ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triple Corrective Position: Wave Z Direction Next higher Degrees: Wave ((II)) of Impulse Wave Cancel invalid Level: Details:: Wave (II) is likely to retest at 6.882 ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback, look for a resumption of the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum. ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triple Corrective Position: Wave Z Direction Next higher Degrees: Wave ((II)) of Impulse Wave Cancel invalid Level: Details:: Wave (II) is likely to retest at 6.882 ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: The correction in wave ((2)) seems to be not over yet, so we focus on the decline in wave ((2)). It is likely to go down to test the 6.882 level, but all this is a short-term pullback, look for a resumption of the trend. ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bullish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! -
By NeverSummer · Posted
I am also new to this platform. I also have a question related to spread betting for UK tax. IG always specifically mention spread betting is exempt from capital gain tax and stamp duty but never mention income tax. Does anyone know for sure if the profits and losses in spread betting need to be reported as income? If so, should it be the net P&L for positions that are closed within the tax year? -
By tradinglounge · Posted
Understanding the Repo Market: A Simple Guide Imagine you have a valuable watch, but you need some quick cash to pay for a surprise expense. You go to a pawnshop and offer your watch as collateral for a short-term loan. The pawnshop gives you the cash, and you agree to buy back your watch the next day, paying a little extra for the service. This is essentially how the repo market works in the financial world. What Is the Repo Market? The repo market (short for repurchase agreement market) is a crucial part of the financial system where banks and other financial institutions borrow and lend money to each other, usually overnight. They use high-quality securities, like government bonds, as collateral to secure these loans. How Does It Work? The Borrower (Seller): Needs cash for a short period. The Lender (Buyer): Has extra cash and wants to earn a small return with minimal risk. Collateral: High-quality assets like government securities are used to secure the loan. The Process: Step 1: The borrower sells securities to the lender and receives cash. Step 2: Both parties agree that the borrower will repurchase the same securities at a future date (often the next day) at a slightly higher price. Step 3: The difference in price represents the interest paid for the loan. Why Is the Repo Market Important? Liquidity Management: It allows financial institutions to manage their day-to-day cash needs efficiently. Low Risk: Using high-quality collateral reduces the risk for lenders. Interest Rates Influence: The repo market helps central banks implement monetary policy by influencing short-term interest rates. Economic Stability: A smooth repo market ensures that money flows effectively through the financial system, supporting lending and investment. Real-World Impact Banks and Businesses: They rely on the repo market to meet short-term funding needs, which helps them operate smoothly. Consumers: While not directly involved, consumers benefit from the stability and liquidity that the repo market provides to the overall economy. Central Banks: Institutions like the Federal Reserve use the repo market as a tool to control money supply and maintain financial stability. Key Takeaways Short-Term Borrowing: The repo market is all about short-term loans, often just overnight. Secured Loans: Loans are backed by high-quality collateral, reducing risk. Essential Function: It keeps the financial system liquid and stable, much like oil in a car engine. In Summary: The repo market is like a financial "pawnshop" for big institutions. It allows banks and other entities to quickly get cash by temporarily exchanging securities, ensuring that money keeps moving through the economy. Understanding the repo market helps explain how financial institutions manage liquidity and how central banks influence interest rates to maintain economic stability. Analyst Peter Mathers TradingLounge™ Source: tradinglounge.com
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Question
Someuser
I have contacted IG about this ongoing issue via email, have not heard back, it's been 5 weeks.
Mobile platform:
The prices stop updating, account balances disappear, happened 3 times, for about 30-50 mins, around 13:30 to 15:30 uk time.
During this time, markets were open and my trades exposed. Lost gains and unable to close positions resulting in massive losses.
IG have failed to provide satisfactory service. I wish no longer to trade with this company and ask that money is returned.
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