3 trades in previous month

[David88]

Hi.  I am trying to avoid the £10 transaction fee.  I have done 3 trades this month,  March and paid £30 fees.  Do I now have to wait until 1st April to do a transaction free of the £10 charge?  The preview still shows a £10 charge.

[David88]

Tried phoning the helpline but it was on hold forever.  Any wisdom appreciated - happy to wait till April,  I’d just like to know how it works.

[Caseynotes]

14 hours ago, David88 said:

Tried phoning the helpline but it was on hold forever.  Any wisdom appreciated - happy to wait till April,  I’d just like to know how it works.

Hi, I don't use that type of account but you might find more info here https://www.ig.com/uk/investments/share-dealing/costs-fees

If no one from the forum is able to answer might be worth repeating the question early next week and tag IG admin so they will be notified they were mentioned in a forum post like @CharlotteIG

[CharlotteIG]

On 12/03/2020 at 18:38, David88 said:

Hi.  I am trying to avoid the £10 transaction fee.  I have done 3 trades this month,  March and paid £30 fees.  Do I now have to wait until 1st April to do a transaction free of the £10 charge?  The preview still shows a £10 charge.

Thanks for your post. 

It does have to be 3 trades in the previous month. So if you've made three trades in March you will get free share dealing commission for US shares in April. 

All the best.

[lathame]

On 17/03/2020 at 09:23, CharlotteIG said:

Thanks for your post. 

It does have to be 3 trades in the previous month. So if you've made three trades in March you will get free share dealing commission for US shares in April. 

All the best.

Hi Charlotte,

So it's based on calendar month i.e. if you made 3 trade on 31st March you would get free dealing commission in April from the 1st April?

Another question - if you make 3 trades on UK shares does this mean you have free commission the next month on US shares as well, or just UK shares? and vice versa. @CharlotteIG

 

Thanks,

Ed

[David88]

Thanks Caseynotes and Charlotte!  Itching to buy up Gilead but I'll wait till April Fool's day.

[OzzieHolder]

My question is on a similar theme.

Keeping the context of the thread, are 3 trades on the 31st March actually going to give concessions in April , or will they be in May?

i.e. is the month determined by the transaction date (March) or is it by the settlement date (April)?

I found this thread looking for the answer!

I do 3 trades at frequent trader rates (£3 each to avoid the regular charge of £8 each) plus I need not worry about about Custody charges of £24 per account per quarter.   Incidentally I have an ISA and a Nominee account merely because I cannot hold options in my ISA!   IG are superb imho, 3 trades on one of them (or maybe  (untested) 2 on one and 1 on the other)   gives frequent trader status and waiver of Custody fees on BOTH accounts.

I saw today 3 trades in a QUARTER is enough to waive Custody charges so I have been doing 3 trades per month unnecessarily.  I am wasting £1 each month splitting one trade into 3 (3 x £3) rather than one trade at £8 but to regain frequent trader status I'd need to spend 3 x £8 and have to wait for the month to change - so I'll continue with it.

Todays prie is low , and I might be wise to buy today , but I'd risk having 6 trades in April and none in May - so I'll wait until Tuesday.

 

 

 

 

[OzzieHolder]

Not quite my scenario but transaction date applies for tax purposes - so I am right to wait as was the author of this thread it seems?

Is a stock sale reportable based on trade date or settlement date?

 

In most cases, tax law considers the trade date as the date on which a gain or loss is recognized. If you sell a stock at a gain on December 31, you are responsible for any capital gains tax in the current tax year, even though the trade won't settle until the next year.21 Jul 2021

[Kalle20]

On 29/04/2022 at 12:52, OzzieHolder said:

"Is a stock sale reportable based on trade date or settlement date?"

Trade Date!

Edited May 24, 2022 by Kalle20

[Kalle20]

On 29/04/2022 at 12:42, OzzieHolder said:

My question is on a similar theme.

Keeping the context of the thread, are 3 trades on the 31st March actually going to give concessions in April , or will they be in May?

i.e. is the month determined by the transaction date (March) or is it by the settlement date (April)?

I found this thread looking for the answer!

I do 3 trades at frequent trader rates (£3 each to avoid the regular charge of £8 each) plus I need not worry about about Custody charges of £24 per account per quarter.   Incidentally I have an ISA and a Nominee account merely because I cannot hold options in my ISA!   IG are superb imho, 3 trades on one of them (or maybe  (untested) 2 on one and 1 on the other)   gives frequent trader status and waiver of Custody fees on BOTH accounts.

I saw today 3 trades in a QUARTER is enough to waive Custody charges so I have been doing 3 trades per month unnecessarily.  I am wasting £1 each month splitting one trade into 3 (3 x £3) rather than saving money on one trade at £8 but to regain frequent trader status I'd need to spend 3 x £8 and have to wait for the month to change - so I'll continue with it.

Todays prie is low , and I might be wise to buy today , but I'd risk having 6 trades in April and none in May - so I'll wait until Tuesday.

£1 each month is not a big amount you should worry about.

Edited May 27, 2022 by Kalle20