Jump to content

The money I have paid does not relate to the amount of shares I thought I bought


Recommended Posts

Hi I am new to IG, I have set up a live account after using the demo account. I have purchased 500 shares in IAG at the price of 139.60 GBP. According to my calculations, this should cost me £698.00 but this is not the amount of money that has been taken from my funds, in fact, it is hard for me to work out how much I paid for this as also the charge for the trade has been taken which I think is £10. I seem to have paid about £100 but nowhere near the amount of £698.00.

When I ordered the shares in the deal box I put 500 into the box named "size". When I did this it said to buy 500 shares @139.60 GBP.

Why have I not paid more money? Do I now own 500 shares in this company? Any ideas I would be grateful.

Thank you

Link to comment
13 hours ago, Armelle said:

Hi I am new to IG, I have set up a live account after using the demo account. I have purchased 500 shares in IAG at the price of 139.60 GBP. According to my calculations, this should cost me £698.00 but this is not the amount of money that has been taken from my funds, in fact, it is hard for me to work out how much I paid for this as also the charge for the trade has been taken which I think is £10. I seem to have paid about £100 but nowhere near the amount of £698.00.

When I ordered the shares in the deal box I put 500 into the box named "size". When I did this it said to buy 500 shares @139.60 GBP.

Why have I not paid more money? Do I now own 500 shares in this company? Any ideas I would be grateful.

Thank you

Hi Armelle, 

If you are trading in a CFD account, you would be trading on leverage. This account is for price speculation where you do not own the underlying asset. If you would like to open a share dealing account where you would be registered as the owner of the shares and shareholder in the company, the correct account to open is a share dealing account. 

You can add a share dealing account by logging into your IG account from the desktop. On your My IG, click on 'Add an Account'. 

image.png

All the best, OfentseIG

Link to comment

Hi thank you for this information, I wonder how I got this wrong 😢. because that is what I would like, a share dealing account. I will have a look at this, although I am slightly put off because it was not clear to me that I opened the wrong account.

Thanks for the clarification, I guess now I need to figure out how to get what is left of my money out of the CDF account before I start again. At this point looking at the account I am worried I might end up owing it money!!

Thanks again

Link to comment
On 24/03/2023 at 18:56, Armelle said:

Hi thank you for this information, I wonder how I got this wrong 😢. because that is what I would like, a share dealing account. I will have a look at this, although I am slightly put off because it was not clear to me that I opened the wrong account.

Thanks for the clarification, I guess now I need to figure out how to get what is left of my money out of the CDF account before I start again. At this point looking at the account I am worried I might end up owing it money!!

Thanks again

Hi @Armelle

If you close the positions, you only loose the loss made on the position. The margin invested in the position will be returned to your account. 

All the best, OfentseIG

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Demo account: Please note that conditions on demo accounts may differ from real accounts. Some brokers may only provide overnight loans on real accounts and not on demo accounts.
    • Swap Rate: Check the swap rates for your open positions. Overnight loans are calculated based on the difference between the interest rates of a currency pair, and if the difference is small or negative, you will not receive a loan.
    • Civic (CVC) emerges as a game-changer in the realm of identity verification, offering a secure and decentralized solution for payment verification between "Identity Verifiers" and "Identity Requesters" within the Civic ecosystem. With its innovative approach and recent developments, Civic is making waves in the cryptocurrency market Payment Verification: Civic's primary use case lies in facilitating payment verification between parties within the Civic ecosystem. By leveraging blockchain technology, Civic provides a secure and transparent method for verifying identities and ensuring trust in transactions.  Integration with Solana Token Extensions: Civic's recent announcement on X revealed that Civic Pass is now integrated with Solana Token Extensions, further enhancing its utility and interoperability within the blockchain ecosystem. This integration opens up new possibilities for Civic's application and adoption.  Civic (CVC) is now listed on Bitget  and other CEX providing users with convenient access to trade and engage with the token. This listing further enhances Civic's visibility and liquidity, attracting new users and investors to the ecosystem. 
×
×
  • Create New...
us