Working Orders taking up margin

[keroppi]

I notice that when I place limit orders they take up margin even though there is no position open.

Is there any way to get around that? I only want margin to be used once I have a position open.

The reason I ask is because I like to have many limit orders each taking up 50% or more of the margin of the account and when one limit order gets triggered I don't need to enter the the other remaining limit orders. Even if the other limit orders get triggered, they should not be entered into because I already used up my margin for the open position.

I use other CFD brokers that don't use any margin for their working orders.

[KoketsoIG]

On 03/03/2024 at 05:13, keroppi said:

I notice that when I place limit orders they take up margin even though there is no position open.

Is there any way to get around that? I only want margin to be used once I have a position open.

The reason I ask is because I like to have many limit orders each taking up 50% or more of the margin of the account and when one limit order gets triggered I don't need to enter the the other remaining limit orders. Even if the other limit orders get triggered, they should not be entered into because I already used up my margin for the open position.

I use other CFD brokers that don't use any margin for their working orders.

Dear @keroppi,

Welcome to the IG community! We're glad to have you here.

Unfortunately, the working order will take up margin. This ensures you have enough margin to keep the position open once it triggers.

Thanks,

KoketsoIG

[keroppi]

Is there any way to change this? I want to have multiple working orders open that exceed my total margin.

 

I would like to enter the working orders that get triggered where I have margin for the position, while orders will not be entered if they are triggered and I have already utilised all my margin for open positions.

 

@KoketsoIG

On 04/03/2024 at 03:02, KoketsoIG said:

Dear @keroppi,

Welcome to the IG community! We're glad to have you here.

Unfortunately, the working order will take up margin. This ensures you have enough margin to keep the position open once it triggers.

Thanks,

KoketsoIG

 

[KoketsoIG]

5 hours ago, keroppi said:

Is there any way to change this? I want to have multiple working orders open that exceed my total margin.

 

I would like to enter the working orders that get triggered where I have margin for the position, while orders will not be entered if they are triggered and I have already utilised all my margin for open positions.

 

@KoketsoIG

 

Dear @keroppi,

Unfortunately, there is no way to change this.

Thanks,

KoketsoIG