Jump to content

Oil Charges


GTS15

Recommended Posts

Hope all is well and safe , 

 

Had a strange charge appear on my statement and must be wrong but IG usual arrogant self to small traders just ignored my messages. I opened a oil trade at £1 a point around 8.10pm and closed at 11.15pm same day for a small profit of £11.20 and the next day I get hit with a daily charge of £22.21 surely that cannot be right for a trade of 3 hours. 

However IG wont explain why the charge , hope some can shed some light on this as I am under the impression we pay the spread not a commission

Kind Regards 

  • Sad 1
Link to comment
43 minutes ago, GTS15 said:

Hope all is well and safe , 

 

Had a strange charge appear on my statement and must be wrong but IG usual arrogant self to small traders just ignored my messages. I opened a oil trade at £1 a point around 8.10pm and closed at 11.15pm same day for a small profit of £11.20 and the next day I get hit with a daily charge of £22.21 surely that cannot be right for a trade of 3 hours. 

However IG wont explain why the charge , hope some can shed some light on this as I am under the impression we pay the spread not a commission

Kind Regards 

Hi, if you hold any spot (cash) leveraged position through 10pm you will automatically be credited or debited the overnight funding fee. As has been discussed on the forum over the last few days the fee for oil is currently very high due to the large difference between the first and second futures contract prices which is central to the nightly calculation.

see more here.

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

  • Like 3
Link to comment
1 hour ago, GTS15 said:

Had a strange charge appear on my statement and must be wrong but IG usual arrogant self to small traders just ignored my messages. 

Hi GTS, this is explained in details in the contract you signed when you joined IG.

  • Sad 2
Link to comment

I see the armchair legal eagles chimed with about as much help as a chocolate fire guard, just as well there are good guys here to help cheers to Caseynotes as that makes sense , I thought the roll over was midnight but felt the charge excessive as the FX & gold trades are pennies to hold.  

  • Like 1
  • Thought provoking 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • ASX: COLES GROUP LIMITED. – COL Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COLES GROUP LIMITED. – COL. In our ASX Stocks Top 50 forecast service, we have accurately forecast a price decline from a high of around 17.15 down to around 16.00 at the current low. And we are now identifying COL could move higher in the short term outlook. ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis   ASX: COLES GROUP LIMITED. – COL 1D Chart (Semilog Scale) Analysis Function: Counter trend (Minute degree, green) Mode: Corrective Structure: Double Zigzag Position: Wave (b)-purple of Wave ((y))-green Latest forecast: Accurate forecast Details: The short-term outlook indicates that wave ((y))-green is unfolding as a Zigzag, and wave (a)-purple has ended. Therefore, wave (b)-purple is expected to continue pushing lower, seeking support around 16.01 - 15.71 before wave (c)-purple returns to rise higher. Pushing higher off 17.15 would renew the bull market view. Invalidation point: 15.35       ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: COLES GROUP LIMITED. – COL Elliott Wave Technical Analysis ASX: COLES GROUP LIMITED. – COL 4-Hour Chart Analysis Function: Counter trend (Minute degree, green) Mode: Motive Structure: Impulse Position: Wave (c)-purple of Wave ((y))-green Details: The shorter-term outlook suggests it appears the (b)-purple wave has bottomed, but a move higher than level 16.5 is needed to confirm this outlook. If this forecast is correct, wave (c)-purple will be opened to continue pushing higher, aiming for higher targets. Invalidation point: 15.37     Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: COLES GROUP LIMITED. – COL aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!  
    • Mathews Darcy mentioned that the quarterly production report released by BHP Group recently showed strong performance in copper and iron ore businesses, but adverse weather conditions affected coal production. Despite the upward trends in copper and iron ore prices, the market response to the stock price of BHP was relatively subdued. This article will delve into the analysis of the quarterly report of BHP Group and discuss its impact on the stock market and the reactions of investors. Quarterly Performance and Market Response Mathews Darcy pointed out that despite price increases in copper and iron ore on Wednesday, the stock price of BHP only saw a slight growth after the quarterly report release, reflecting the tepid response of investors to the report. Particularly noteworthy is the decline in the stock price of BHP amidst significant overnight increases in copper and nickel prices and iron ore prices maintaining a six-week high. Additionally, Mathews Darcy noted that major brokerage firms have begun adjusting their ratings and price targets for BHP based on the latest quarterly data. Several brokerage reports indicate that despite strong demand for copper and iron ore, the overall performance of BHP did not meet market expectations, possibly due to production constraints in its coal division. Investment Strategies and Future Outlook Mathews Darcy advised that when considering BHP stock, investors should carefully analyze the performance of its various divisions and future market prospects. While price fluctuations in mineral resources offer profit opportunities for BHP, investors should also be aware of the potential impact of price fluctuations on company performance. Furthermore, paying attention to brokerage research reports and rating updates will help investors better understand market dynamics and potential investment risks. Mathews Darcy also emphasized the importance of diversified investments, especially in an industry facing price volatility and geopolitical risks. Diversifying investments among different resource stocks can effectively reduce the impact of single market fluctuations on the investment portfolio.
    • Gonna participate! Personally, I'm DCAing in this memecoin....
×
×
  • Create New...
us