Jump to content

New to IG platform and finding it confusing to find features & whether to use share or CFD platform?

Recommended Posts



I am new to IG.  I have been using another online broker for a few years - basic share trading.  But have recently begun to more actively trade and occasionally day trade as well (still learning).  I have opened an IG account because the brokerage fees are much cheaper than the last one I have used and day trading the costs are adding up. 


My last share trading platform allowed me to place orders as usual but also along with setting up stop losses and limits, I could also set up conditional orders with share trading for trailing stop losses.  

I  was also looking for the feature to set up what I think is a 'buy stop limit' where my order won't be placed unless the share reaches a certain price above the current market rate (so I can determine that it is in an uptrend as per my desired settings).  My last online broker did not have this feature.  I cannot find these with IG either.  But other online brokers do have this and the trading course I have been following online is very particular to have this feature.  


In fact with the share trading platform - all I can see when buying is a limit and stop limit option. 


I am also confused with the whole CFD set up as well.  I have not used it before but have read it is the best option for day trading.  

But I just cannot understand how the prices are calculated.  Everything is calculated in 'points' and I have no idea what I am being charged ultimately.  If for example I want to buy about $3000 AUD of Galileo Mining (GAL.AX) at $0.365 AUD, in share trading that would be about 8219 shares + brokerage (last broker charged $15 AUD per transaction - so $15 to buy and $15 to sell).  

But with CFD trading it calculates 'margin' and it seems you end up buying a lot more shares at the same price. And you need to determine how many 'points' to set up your limit and stop limit.   I am using the demo trading platform to try and understand it all, but the lack of features and explanation is making it too hard to do the transition. I am not confident to use IG at the moment. 


The IG platform also lacks all the features I had in the last online broker - when I enter a share to look at I am just presented with the chart with SELL/BUY option with DEAL, ORDER and ALERT.  There is no feature to look at ongoing trade orders happening or what orders have been placed like my other brokerage had which I find crucial to see what others are lining up to buy/sell at the time.  It seems that with IG you really need to have other data open using another provider because I cannot find anywhere that opens up more data about the share I am looking at other than a news feed.  It is not enough.  


And again it lacks features such as setting up trailing stop losses and other conditions.  It only has features again for a limit and stop loss.  I read somewhere there are restricted features if I have a restricted account but I don't even know what account type I have.  it just seems too basic. 


Also with CFDs when I have used the demo account there are several times where my orders are rejected - so certain shares you cannot even trade with CFDs for day trading (I read somewhere it is because they do not meet a certain criteria for CFD trading) so if I had a live account and had rushed into CFD platform to do a quick trade I would have lost out on that trade as there is no notification anywhere that pre-warns you that a certain share cannot be traded with CFD.  


Would love for guidance here.  Thanks 

Link to comment

Hi   Take a look through these links to hopefully find some of the answers to your questions. 


For share stops;



For cost of trading cfd (spreads and commissions);



For collective trade orders;


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
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 25/09/22 08:09
  • Posts

    • Hey @pravid17 I hope you're well.  In the leveraged trading industry there are brokers who don't hedge client's exposure and brokers (like ourselves) who do hedge client's exposure.  In a perfect world the exposure of short clients would net off the trades of long clients however this is not always the case. Our hedging model allows us to take an exposure in the underlying market for the remaining exposure which doesn't offset - This way we don't need to hedge every trade, worry about profits of our clients and results in lower costs for hedging in the underlying market (commissions, interest etc.). So say 60% of IG customer exposure in the ASX was long and 40% of exposure on the ASX was short. The 40% would net each other off but there's a remaining 20% of customers who need to be hedged to cover their positions. We go into the market and hedge this.  We make our money primarily through our spreads and overnight funding  with other fees making up a small proportion of our revenue. I would like to remind also that IG is regulated by several bodies globally, including top-tier regulators like the UK's FCA, Germany's BaFIN, Australia's ASIC - This should be quite reassuring from a dealing execution and transparency perspective.  I hope this helps, let me know if you have any other question 
    • A survey from Reviews.org, which featured 1000 Americans, found that as many as 1 in 4 US subscribers may quit the service in the next year.    Jeremy Naylor | Writer, London | Publication date: Friday 23 September 2022  There was an interesting breakdown, but the main reason was affordability. Only 18% said they would move to a cheaper competitor. IGTV’s Jeremy Naylor looks at the numbers. Netflix subscription woes Netflix Inc (All Sessions) could be in for a rough time ahead over the next 12 months if a new survey is anything to go by, which was conducted in the US. Out of the 1,000 adults that took part in this survey undertaken by Reviews.org, around 25% of those that were covered said that they would be cancelling their Netflix subscription within the next 12 months. Now, it says with that 25% of US subscribers to Netflix considering leaving, not to join a competitor, but mostly because of pressures on household bills. This is how it is split: rising cost of subscriptions - 40% inflation - 20% a lack of content - 22% spending more time on the services of others - 18% So you can see, a minority said they were going to other services, such as those provided by Disney Plus or Amazon Prime. The cost of Netflix has risen dramatically this year as its basic plan increased by 11% in January and its other plans by 20% to 25%. Now these were the first price increases for three years, so that itself is relatively new for a lot of subscribers. Netflix share price Let's take a look at the Netflix share price. You can see on the far left hand side of this chart the COVID lows at $290.39. We saw a whacking great increase there of 141% to the top and the record high in Netflix shares back in November 2021. And that was when subscriptions were rising, people were paying more for their services, and it was all humming beautifully. And then all of a sudden people started questioning the numbers of streaming services they were undertaking with some deciding to withdraw from Netflix. All of a sudden the big drops started coming through with profit warnings and sales warnings. We've recently hit a new low of $162.50. Since then there has been a little bit of an increase. We're currently trading at $232.75, but we are down by a margin of 1.75% in today's session, which reflects this news that we could well see a relatively large drop in subscribers for Netflix in the US within the next 12 months.
    • Market data to trade the week of 26 September: Nasdaq; NXT From the economic calendar next week IG technical analyst, Axel Rudolph, picks up on a short trade on the Nasdaq around US inflation data. Meanwhile, despite another light week of corporate data, Axel picks out the chart of Next plc (NXT) as an interesting trade to think about.          
  • Create New...