I have just created my demo CFD account on IG and needles to say that I am a total beginner to trading of any sort but would like to check some of the basic stuff with more experienced users. Any answers/comments will be greatly appreciated!
So, what I have got on my demo screen is the following positions:
I can see on the transaction list some small and varying charges labelled with "Long Interest for ... " which I assume what are called as overnight charges for my long positions. The formulas for these are explained with examples on IG website which I am happy quite with.
What I am curious about are the following points.
Am I right to think that opening positions with UK shares, e.g., Glaxo, Lloyds and Rolls Royce, causes me to get charged by £10 per position whereas this is $15/position when you want to trade US shares, e.g. Tesla as above?
Am I going to be charged again at the same rate when I want to close these positions?
Why am I not being charged at all when I trade with US Tech 100 Cash (£1)?
I assume there is no charges involved in trading FX currencies? I previously opened and closed an FX position and could not see any related charges on my transaction list?
Apologies if these sound basic questions but I would like to cover the basics before I open an actual account.