Jump to content
Sign in to follow this  

Ripple - coming soon

Recommended Posts

I wonder how long we will have to wait until this is available? Do we have a time frame IG?

 

Thanks

 

Andy

Share this post


Link to post

Hi - unfortunately we do not have an update at this time for Ripple. 

Share this post


Link to post

I personally want to be long on ripple from the second the market opens. If we wait much longer the price will already have, as the crypto forums tend to predict, 'gone to the moon', well maybe a half way. Either way has anyone got any idea when this market will open; January? February? Next year?

Share this post


Link to post

Hi James,

 

Can I be a pain? About to try a first small adventure into crypto and want to understand what I'm doing and not get any nasty surprises! Am I right that for each contract (of the minimum 10 coins) the overnight charge if long works out about 1.5p? And that like normal FX the only cost is in the spread - no additional dealing costs? Want to try one small trade first to understand what I'm doing but at the moment it all looks so easy, so checking I haven't missed something!

 

Thanks,

Cate

Share this post


Link to post

Actually, something seems to be wrong with the dealing tickets unless I'm really confused. I tried opening a position to test what I needed to do, using the minimum contract size, and the ticket showed that my margin requirement for 10 contracts was about £8 but then I got a message telling me to increase the funding in my account, which suggested that the actual margin it wanted was more like about £800. I'm a bit confused now... 

Share this post


Link to post

Looking at the info, I see that each contract is for 100 coins, so the minimum holding will be 1,000. I think the dealing ticket is calculating the margin for holding 10 coins by mistake? 

Share this post


Link to post

Yes if only you had introduced Ripple when I suggested it back in July 2017 I would have made a killing by now!

Share this post


Link to post

HAHA That’s if you are assuming you will not get the favourite phrase “unlongable “. In any case I don’t see it in SG IG platform for XRP yet

Share this post


Link to post


cate wrote:

Actually, something seems to be wrong with the dealing tickets unless I'm really confused. I tried opening a position to test what I needed to do, using the minimum contract size, and the ticket showed that my margin requirement for 10 contracts was about £8 but then I got a message telling me to increase the funding in my account, which suggested that the actual margin it wanted was more like about £800. I'm a bit confused now... 

Hi  

 

So 10 contracts of the $1 contract would basically be a $10 per point movement, and a notional value of $2850 (assuming a price of Ripple of 2.85). The margin required on this would therefore be about $1140 (at a 40% margin requirement) which is about £840. This is the value that should have been displayed at the bottom of the deal ticket. Please can you screenshot if you are seeing something different / the discrepancy and I can investigate.

Share this post


Link to post

Hi all let me try and answer a few questions quickly.


Benny wrote:

Yes
if only you had introduced Ripple when I suggested it back in July 2017 I would have made a killing by now!

Mornin'  - We will always try and get out products as quickly as possible if there is sufficient client demand. Cryptocurrencies, however, pose a relatively new and truly unique asset class. Our priority is to make sure the offering we have when we come to market is robust, safe, and suitable for our clients and the business as a whole.

 

Other companies may have managed to get to market sooner, but I don't believe their offering is nearly as good; (markets.com charging nearly £5000 a month to hold £1 a point in bitcoin for example, or Plus charging 150 points in spread and forcing you to have a tiny exposure and roll every week...).

 

So long story short, we will work as quickly as possible to get you the best product we can, which will stand the test of time, be significantly competitive on cost, and continue to be a market leader in this space. Unfortunately this does make the delivery a little bit slower, so I apologise for that.


theroyaljester wrote:

Have searched high and low, under crypto currencies etc. Nothing, wonder - are you on the IG Australia platform?

Hi  Yes you should be able to see Ripple on the Aus CFD platform. 

 

fmradio05 wrote:

Think its not open in all markets yet. I dont see it in IG SG as well.

Hi  - apologies about the confusion - at the moment of posting I thought that this was live for all locals. I have just double checked and our Singaporean compliance office (and Dubai) need to sign off a few things before this can 'go live'. Each region has slightly different restrictions which need to be worked through. I shall try and keep you updated, but I  hope this will be today or Monday. 

Share this post


Link to post

Thanks James. I think it must have just been a bug in the few hours after Ripple went live, because it's all sorted now. I do notice though that the £1 contract seems to have disappeared and there's only the $1 one now, so maybe things are still changing a bit at the moment.

 

Best wishes,

Cate

Share this post


Link to post

How long until Ripple is longable again? Been trying for last few days, worried I’m gna miss another jump

Share this post


Link to post

I'm actually waiting for it to be longable to build a position long too. Once the upward trend starts it will be unlongable all the way up!

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      11,962
    • Total Posts
      60,587
    • Total Members
      80,586
    Newest Member
    92ts11
    Joined 12/08/20 16:43
  • Posts

    • If in the UK you can buy physical silver (coins or bars) from the royal mint or royal mint authorised dealers. Just search the internet. You probably want to buy whatever is captial gains tax exempt (I think silver britannias are). Shop around for the best price and also be careful about VAT as I think you may have to pay that on some purchases and not on others . Of course when you buy physical silver in UK as an investment you also have to consider what GBP/ USD is up to as any change in  exchange rate in future will affect your return (as silver is priced in USD). If you don't want physical then you could buy shares in a silver ETF (eg. SSLN) which is  backed by physical metal or if you want to spread bet it you could buy spot silver. It all depends why you want to buy it. If just as an investment then you get a better return buying etf or spread betting (easier to cash in when you want to and potentially less hassles with tax). If you are worried the banking system will freeze up and you can't get money out at some point in the future ( possibly not likely but you can never rule it out) then it's physical - stored outside the banking system either with a company or stored somewhere by yourself. I'm not an expert on this but have just read a bit about it lately as lots of articles suggesting silver will go higher over the next months / year.  
    • I don't know. But there is good profit taking.
    • Bad fundamentals?
×
×