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Query on why I cannot withdraw more money from IG: Equity vs. Funds


ICBarrett

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Hello,

Once my margin requirement is < 50% of my equity I like to withdraw money from my spread bet account.

However, due to most of my positions having been open a good while (I don't trade much) and the account running profit being large, the Funds figure is only approx. 5% of my total equity. According to the withdrawal page I cannot withdraw more than the "Funds" amount.

So, my question is: how do I withdraw more of my equity? Do I need to close existing profitable positions to increase the available "Funds" amount for withdrawal? (I would prefer not to close any of current open trades yet, so if I closed then reopened positions - though would have to pay spread - would that increase available Funds?)

(I have already withdrawn more than my entire initial starting capital, in case that's an issue.)

Thanks,
AB

 

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On 15/09/2023 at 17:38, ICBarrett said:

Hello,

Once my margin requirement is < 50% of my equity I like to withdraw money from my spread bet account.

However, due to most of my positions having been open a good while (I don't trade much) and the account running profit being large, the Funds figure is only approx. 5% of my total equity. According to the withdrawal page I cannot withdraw more than the "Funds" amount.

So, my question is: how do I withdraw more of my equity? Do I need to close existing profitable positions to increase the available "Funds" amount for withdrawal? (I would prefer not to close any of current open trades yet, so if I closed then reopened positions - though would have to pay spread - would that increase available Funds?)

(I have already withdrawn more than my entire initial starting capital, in case that's an issue.)

Thanks,
AB

 

Hi @ICBarrett,

Thank you for your post.

Please note that for the positions you have opened, you will have the margin which is the funds needed to keep the positions open. 

The equity is the cash deposited +/- profit/loss and it cannot be below 50% of the required margin. The funds available to withdraw is the equity minus the margin required for your positions and you would have to close some/ part of your positions to increase this and withdraw more funds. 

All the best,

KoketsoIG

Please rate us on Trustpilot: IG Trustpilot 

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