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Negative 'Available to Deal' balance from share dealing


LetsTrade

Question

Hi,

Why would I have a negative 'Available to Deal' balance from a share-dealing account?

I have a 'basic' share-dealing account and have bought stock from my previous available balance and this morning have a balance of -£39. Just to emphasise, my only trades have been buying and selling stock with my available funds.

This is what might have triggered the negative balance, but I'd like to know 'why' it happened:

Yesterday I placed a Sell order to close a position, but the order was only about half filled. I used the proceeds from this half-filled Sell order to open a new position in a different stock (I did not exceed the amount I had available to deal by opening the new position). At the close of trading I was left with a positive 'Available to Deal' balance of around £2. Yet, this morning it was -£39.

Any help to explain this greatly appreciated.

Thanks in advance.

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18 hours ago, LetsTrade said:

Hi,

Why would I have a negative 'Available to Deal' balance from a share-dealing account?

I have a 'basic' share-dealing account and have bought stock from my previous available balance and this morning have a balance of -£39. Just to emphasise, my only trades have been buying and selling stock with my available funds.

This is what might have triggered the negative balance, but I'd like to know 'why' it happened:

Yesterday I placed a Sell order to close a position, but the order was only about half filled. I used the proceeds from this half-filled Sell order to open a new position in a different stock (I did not exceed the amount I had available to deal by opening the new position). At the close of trading I was left with a positive 'Available to Deal' balance of around £2. Yet, this morning it was -£39.

Any help to explain this greatly appreciated.

Thanks in advance.

Thank you for your post. 

Sometimes when funds don't settle or when fees have been taken you may see your available balance change. If it's still negative I would advise checking the history of transactions. If the reason is still not clear, do reach our to our client facing team on helpdesk.uk@ig.com

All the best 

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Hi IG, in case you're not aware I think there might be a bug in your charting package for negative numbers. I was watching the May WTI futures contract as it went negative. For some reason the graph went a bit bonkers. The price quotes were fine, correctly showing -ve numbers for both teh bid and the offer but as you can see from the attached picture the chart was completely bonkers! A bit of a bug, hope you get it fixed in time for next months crude expiry. Ta Gordon 

Screenshot_20200420-204703.png

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