Unsettled Debit

[jbutleruk]

Hi all.

I have an amount in my unsettled debit, on the overview tab. What is this and how is it calculated? 

Thanks. 

[applicant679339]

I have the same question.  Did you get any answers Jbutleruk?

[Guest Jbutleruk]

No. 

[hawksworthy]

I've got this also - same question from me!  Grateful for some help. 

[HeadBeeGuy]

I've it too, it's very unusual. What could we 'owe'. It's a massive amount. Can anyone shed light on this? @CharlotteIG

[CharlotteIG]

On 02/04/2020 at 16:29, jbutleruk said:

Hi all.

I have an amount in my unsettled debit, on the overview tab. What is this and how is it calculated? 

Thanks. 

 

On 06/04/2020 at 14:48, applicant679339 said:

I have the same question.  Did you get any answers Jbutleruk?

 

On 06/04/2020 at 14:52, Guest Jbutleruk said:

No. 

 

On 20/04/2020 at 15:31, hawksworthy said:

I've got this also - same question from me!  Grateful for some help. 

 

On 05/05/2020 at 15:15, HeadBeeGuy said:

I've it too, it's very unusual. What could we 'owe'. It's a massive amount. Can anyone shed light on this? @CharlotteIG

Hey everyone, 

If this is on a non-leveraged account (Share dealing or ISA) an unsettled debit are the funds we require when you buy shares. Say you bought £10,000 worth of shares. These funds are made unavailable on your account however 2-3 working days later the funds settle which means we send your funds to the person you bought the shares from. 

This is the underlying settlement period which we have no control over. 

When you sell the shares you will see an unsettled credit. 2-3 working days later the funds will settle and you can withdraw them if you wish. 

I hope this helps. 

[HeadBeeGuy]

So, it's much like a pending amount. Thanks for the clarification, very helpful!

[penguintrader]

Can you trade with this amount in the time it takes to settle? If you only had a small amount in the trading account then this would mean 2-3 days no trading???

[CharlotteIG]

On 30/07/2020 at 14:47, penguintrader said:

Can you trade with this amount in the time it takes to settle? If you only had a small amount in the trading account then this would mean 2-3 days no trading???

If you have bought something and it's an unsettled debit you will not be able to trade with this. The reason for this is it's an unsettled amount for shares you have already bought. 

If you sell stock and have an unsettled credit you can trade with these funds. If you sell shares and want to withdraw the funds you have to wait 2-3 working days before you can withdraw, 

[Guest H0ii]

On 06/08/2020 at 17:37, CharlotteIG said:

If you have bought something and it's an unsettled debit you will not be able to trade with this. The reason for this is it's an unsettled amount for shares you have already bought. 

If you sell stock and have an unsettled credit you can trade with these funds. If you sell shares and want to withdraw the funds you have to wait 2-3 working days before you can withdraw, 

Would I be able to sell the stock if It's still pending then?

[CharlotteIG]

3 minutes ago, Guest H0ii said:

Would I be able to sell the stock if It's still pending then?

Hey, 

If you're asking that when you buy stock and you have an unsettled credit, can you sell the stock... if so then yes. You will see an unsettled debit on the account for when you sold it and an unsold credit amount when you've sold the stock. 

[nit2wynit]

Hi @CharlotteIG can you please advise me on this matter?

I have been trading with IG since 2018.   I have NEVER had an issue with Trading several times per day using my full account value.  As an example, if my total account value was £1000,  I have been able without issue to trade in and out within minutes and never had an issue of Unsettled Credit or Debit which has not allowed to me to trade any further.  Nor have I ever seen a Negative Balance in either Funds Available or Available to Deal.

Yesterday 17th April, I had available over £800 to Trade (total account value £1072).  I bought 2 stocks using the full account value leaving around £2 Available to Deal.  I then went to the shop.  I soon noticed on my App that I was -£495, and my account value was around £320, even though my PL was only under £150.  (these figures are approx).

Yesterday i sold half of one of my position, and I am still -$168 with £350 Unsettled credit.

I have never experienced this before.   While I have contacted Helpdesk a simple reply of 'Unsettled Credit' was the answer.  What has changed?  I feel something is really wrong here.

 

 

Thanks.

 

[nit2wynit]

...............to make my question a little clearer.

Yesterday i had around £800 to deal.   I bought 2 stocks with the full account value leaving around £2 Available to Deal.  While there was a considerable amount Unsettled Credit and Debit which is not uncommon as i trade many times daily, I bought the stocks with no issue.  Shortly after, my Available to Deal showed as -£495 instead of £2, Funds showed as -£495 and my account value showed as £320. even though my stocks choices were only down less than £5 each.

[nit2wynit]

Thanks for the input,  The issue is being resolved.  IG took a position Twice.  Remedy is imminent.

[nit2wynit]

On 11/05/2020 at 15:12, CharlotteIG said:

 

 

 

 

Hey everyone, 

If this is on a non-leveraged account (Share dealing or ISA) an unsettled debit are the funds we require when you buy shares. Say you bought £10,000 worth of shares. These funds are made unavailable on your account however 2-3 working days later the funds settle which means we send your funds to the person you bought the shares from. 

This is the underlying settlement period which we have no control over. 

When you sell the shares you will see an unsettled credit. 2-3 working days later the funds will settle and you can withdraw them if you wish. 

I hope this helps. 

Hi @CharlotteIG I sold my last shares on Monday this week and they have still not settled.  Could you take a look please?  Thanks.