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confused about margin and CFD


Guest andyls

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Guest andyls

Hi all, 
I am very new to CFD. Therefore, I need help about this.

I just deposited 1000AUD into IG and invested 2 USA company CFD shares at 50 UNITS OF $10 AND 20UNITS OF $30. i discovered that I had actually
paid AUD1128 for the 2 investments. There is an extra of $128. Is this known as the margin?. Is this an amount like a loan from IG. 
If the market is against me,IG will ask me for extra payment which will be higher than the money i deposited.
 I was notified in writing that my account will be assigned with a limited risk account (with negative balance protection).
 Is my account totally protected?
Next, I also discovered that I can even withdraw up to $788 worth of funds which is really confusing. Why AUD788? I deposited only 1000AUD and have already spent everything on the 2 shares with an extra of $128.
Please advise. Thanks

Edited by andyls
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