Jump to content
  • 0

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


ICBarrett

Question

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(I have already withdrawn more than my entire initial starting capital, in case that's an issue.)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

 

Link to comment

1 answer to this question

Recommended Posts

  • 0
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(I have already withdrawn more than my entire initial starting capital, in case that's an issue.)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

- KoketsoIG

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

    • The mischievous amphibian who became a meme legend? Well, meet Apu, his wide-eyed, optimistic cousin, taking the internet by storm – and now, perhaps, the world of finance. Apu, also known as Peepo or Helper, is a kinder, gentler Pepe variant. Tired of the often-scammy memecoin scene, Apu (or rather, Apu's devoted community) decided to create something different: $APU, a "fairly launched, fully transparent coin" built by and for "all frens." Here's where things get interesting. $APU's narrative is one of resilience and community power. Fueled by the cryptocurrency community's enthusiasm, $APU was initially launched with the best of intentions. However, the dream took a nasty turn when the original developer pulled the rug – a disheartening scenario for many crypto enthusiasts. Today, $APU stands as a testament to community empowerment. It's a beacon of hope for projects facing similar challenges, a reminder that collaboration and resilience can transform setbacks into stepping stones. It's also worth noting that another community-driven memecoin, $MASSA, recently found a home on the Bitget exchange. Could this be a sign of things to come for $APU? What are your thoughts? Does Apu's story inspire you? Can a memecoin truly become a legitimate force in the volatile world of cryptocurrency? Share your thoughts and predictions in the comments below!
    • The price shown on the graph is the price after the IG's fee taken. That is the reason for discrepancy.
    • I am a relatively newbie. I have seen similar and also have seen automated closed position has a loss though the close price I have set was above the price I have bought. After about 6 months with a lot of mysterious losses though my closing price was above the opening price, I discovered this was because of the amount charged for opening/closing a position. This is right below BUY and SELL boxes on the right in very small font. This amount vary from  0.9 to 33 or more depending on the level of trading at the time you open or close. It also happens (god knows why it is set to be so, except that the trader is not watching) when there is a lot of buying and selling going on, like an important news has suddenly been out and the result was not the market expected. As a result, I delete all my automated BUY/SELL values before I stop trading for the day. Remember, the the software is set up to favor the IG, not the retail seller. That is why 70% or more end up in loss.  
×
×
  • Create New...
us