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total account value not the same with profit/loss


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Hello everyone!

I'm new on this platform and on investing in general. I have tried some demo accounts on cfd's before but did not like as I did not understand it and neither took the time to understand but I thought that buying shares and holding on until they apreciate in value  is not that hard.

I have opened an ISA stocks and shares account about 3 days ago, I ve put some money and started to trade. I have opened 3 positions but I have noticed that even though I was in profit with something like 220 pounds overall on those positions the actual overall balance of the account was only about 60 pounds over what I have started with. I mean I was expecting that 3 trades times 10 pounds is 30 pounds plus the quarterly fee for using the platform about 26 pounds or so, and a total of 56 pounds out of the 220 which I was on plus would mean 164 pounds profit. When I'm on minus with the balance the minus is greater than the actual trading while when I'm on plus the actual plus is smaller than it should be. Can anyone explain why is it like that and what am I doing wrong? I just want to buy the shares pay some transactions fees and fees for the platform and then enjoy the rest. Are all the brokers like that? 

Thank you for reading and for your reply!

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  • 2 months later...
On 26/03/2020 at 19:17, dandra said:

Hello everyone!

I'm new on this platform and on investing in general. I have tried some demo accounts on cfd's before but did not like as I did not understand it and neither took the time to understand but I thought that buying shares and holding on until they apreciate in value  is not that hard.

I have opened an ISA stocks and shares account about 3 days ago, I ve put some money and started to trade. I have opened 3 positions but I have noticed that even though I was in profit with something like 220 pounds overall on those positions the actual overall balance of the account was only about 60 pounds over what I have started with. I mean I was expecting that 3 trades times 10 pounds is 30 pounds plus the quarterly fee for using the platform about 26 pounds or so, and a total of 56 pounds out of the 220 which I was on plus would mean 164 pounds profit. When I'm on minus with the balance the minus is greater than the actual trading while when I'm on plus the actual plus is smaller than it should be. Can anyone explain why is it like that and what am I doing wrong? I just want to buy the shares pay some transactions fees and fees for the platform and then enjoy the rest. Are all the brokers like that? 

Thank you for reading and for your reply!

Same question here. Is the discrepancy explained by fees such as overnight fees?

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  • 2 months later...
On 26/03/2020 at 18:17, dandra said:

Hello everyone!

I'm new on this platform and on investing in general. I have tried some demo accounts on cfd's before but did not like as I did not understand it and neither took the time to understand but I thought that buying shares and holding on until they apreciate in value  is not that hard.

I have opened an ISA stocks and shares account about 3 days ago, I ve put some money and started to trade. I have opened 3 positions but I have noticed that even though I was in profit with something like 220 pounds overall on those positions the actual overall balance of the account was only about 60 pounds over what I have started with. I mean I was expecting that 3 trades times 10 pounds is 30 pounds plus the quarterly fee for using the platform about 26 pounds or so, and a total of 56 pounds out of the 220 which I was on plus would mean 164 pounds profit. When I'm on minus with the balance the minus is greater than the actual trading while when I'm on plus the actual plus is smaller than it should be. Can anyone explain why is it like that and what am I doing wrong? I just want to buy the shares pay some transactions fees and fees for the platform and then enjoy the rest. Are all the brokers like that? 

Thank you for reading and for your reply!

I haven`t noticed this but have you invested in only LSE companies? or have you invested in foreign companies as they will show in their own currency (e.g. invest in a canadian company the profit shown is in canadian dollars so IG will show that daily currency conversion which can be switched off and you can keep that currency and exchange it when you want).

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  • 8 months later...

I'm having the same issue and I'm told it's the conversion fees. But they seem well to high for that to be the case... have you worked out what it is yet?

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This is very Interesting; Yet amazingly "Hey Ho!! - and By Magic" my previous post that I placed on this very subject between March and April of 2021 seems to have vanished or been removed🤔. Now why is this?

I had and still have, exactly the same problem, in that my individual trading account totals DO NOT BALANCE to that of my P&L Workspace Total. I have no end of examples along with Screenshots as proof this has occurred and I've provided such to IG.

Ironically I reported these inaccuracies to the IG IT Team over 15 months ago. I even had this confirmed back by them, both verbally and in writing, that the totals do not balance. Which by default disadvantages customers continuously, because they cannot obtain a quick visual of their current true balance trading account as should be the case within the workspace P&L Total.

I have reported this to the FAC and Financial Ombudsman to which the later are investigating. Up until recently my original post, placed a couple of months ago, was still visual but somehow has now vanished. Why would this be? and I wonder how long this posting will survive?

It would be advantageous to hear of how many more of IG customers are experiencing this scenario or in deed have experienced these types of miscalculations in the past.

For future proof of this posting I am taking yet another Screen Shot, before this inadvertently disappears.

  

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  • 3 weeks later...

I have the same issue trading turbos. But it seems they charge you whatever they want with every trade. Not good at all. I traded DAX and sometimes the difference between profit/loss on the chart vs account history is half.

Never seen such thing in other brokers.

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