Display profit/loss in base account currency

[Guest ajt143]

HI,

I have recently started using IG and am wondering if there is a way to display your potential profit or loss in your base account currency when trading forex with IG? 

For example, my account is in Australian dollars and when placing a sell order on the EUR/GBP my limts are displayed in GBP. 

This is not very helpful when determining your position size. Is there a way to change this?

Any help much appreciated

Thanks

Andrew

 

 

[Caseynotes]

Hi @ajt143, not sure why but IG do have this option for the UK spread bet platform but not for the UK cfd platform. The cfd platform (UK and Aust) display is always in the quote currency what ever that happens to be and I don't think it can be changed.

[Guest ajt143]

Seems like an unnecessary step to have to manually convert to your account currency to work out your risk... 

Have just moved from the Oanada platform as they are no longer are allowed to operate in New Zealand. Their platform does this conversion for you.  Their platform also shows distance to targets (TP/SL/entry)  and profit/loss in pips which is also useful.  note sure why IG does not do this

 

 

 

[Caseynotes]

Hi @ajt143, that's interesting regarding Oanda, can you tell us why?

As you fill out the deal or order ticket the data you mention and more is placed on the chart and ticket for you to consider before hitting the place deal button, just not the actual currency conversion.

[Guest ajt143]

Hi Caseynotes,

Yes I did notice it is displayed as you place the trade. but on the Oanda platform you have a live update of how far away entry stops are in pips after you have placed the order. It also displays profit /loss in pips  as the trade progresses. 

This is the message i got from Oanda.. was a bit of a surprise! 

"Your account is locked and as of 1 December 2017 NZ regulators prevents company such as OANDA who do not hold a license to operate in the jurisdiction to cease all relationships with NZ clients who are residents. You may wish to find out more information via the NZFMA website.

 

 

[Caseynotes]

@ajt143, ok, didn't know that re oanda, looks like it was the NZ regulators that shut them down, just did a quick search but couldn't find the reason, obviously they are still operating in the US and here in the UK.

[Guest ajt143]

Yes they are still operating outside of NZ, we had a string of large high profile investment companies collapse a few years ago so regulations were tightened up I believe. 

I

[Guest ajt143]

Quick question while I have your attention, 

Is there a way to set the daily candle close time to 5pm EST? It seems to be set to my local time which is odd 

[Caseynotes]

@ajt143, all broker platforms are set to their home time zone, IG has UK GMT and IG Australia uses Melbourne time (I believe).  EST is US eastern standard time. Only some third party platforms offer changing the time zones so you can do that if you are using IG's version of Prorealtime or you can also do that on the Tradingview.com platform though IG don't have a dealing link up with them so you would need to use Tradingview for charting and IG's platform for dealing.