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S&P 500 Data only


CocolinoFan

Question

I was looking to buy into the S&P 500 index. But when I search "S&P500" in the IG platfrom I get the "US500" index. Comparing the prices I conclude that the US500 and the S&P500 are the same index. But why did IG change the name of the index? And lastly I am unable to buy or sale in this index. I get a red cross saying "data only". Please help

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Good day @Caseynotes 

8 minutes ago, Caseynotes said:

when you say S&P 500 you could be meaning any of dozens of different indexes. 

I mean the original S&P500;  the index of 500 largest companies having common stock listed on the NYSE, NASDAQ, or the Cboe BZX Exchange. THE S&P500. I don't really understand why there is any confusion, it is arguably the most famous index in the world.

8 minutes ago, Caseynotes said:

For the 'data only' notice is that on a leveraged spread bet or cfd account? 

I'm not sure man. I just a normal account where you buy and sell actual shares. No leverage or anything.

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Hi @CocolinoFan, ok, the indices themselves are only available on leveraged accounts as they are a derivative and you are speculating on direction of movement and taking a position size rather than buying or selling an actual share. They are on the non-leveraged platform for reference only that's why you are getting the 'data only' notice.

To trade them you will need to open a spread betting (UK only) or a contract for difference (cfd) account.

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@CaseynotesI understand there are many ways to invest. But this is not what I asked:

49 minutes ago, CocolinoFan said:

@CaseynotesBut Warren Buffett famous says that you should invest in the S&P500 as an average individual. So he is not refereeing to "buying" into the index; but he is saying you should "bet" that the index will increase in value using a leverage account?

I want to buy indexes not ETFs. So you are normally able to buy into an index but IG dose not let you do that with the S&P it just lets you speculate. Is this true or not?

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