[I have a UK Share Dealing account. Can I have a list of exchanges offered for my account that accepts Stop Order?]

44 minutes ago, JMMA said:

What happens if I put a Sell Limit Order with a price order level lower than the current market price. Would it get filled inmediatly? And at what price: Market price or the order level?

Hi @JMMA,

If you choose a Sell Limit order with a lower price than the current level you will be executed @ Market price.

Thanks, 
Jakub

[Types of accounts]

On 15/05/2021 at 10:13, Guest Hardik Bhavsar said:

What type of account i need to open for ETFs?

 

You need a Share Dealing account to trade physical ETFs. You can trade those on leveraged accounts as well (SB and CFD).

Thanks,

Jakub

[Minimum share trade]

On 01/05/2021 at 05:47, Guest Jarvis said:

Hi Guys, 

Haven’t been able to find a straight answer on the minimum trade value. Is the minimum trade on shares $450 or equivalent in the traded currency? 
 

Cheers!

Hi there, 

Are you asking about Share Dealing or CFD/SB? Are you asking about US stocks on Share Dealing? If yes, it's $90.

Thanks, 

Jakub 

[Are Spread Bets at IG on Equities based on Fixed or Variable spreads?]

15 minutes ago, Guest Merlo said:

Are Spread Bets at IG on Equities based on Fixed or Variable spreads?

Hi there, 

Our spreads on equities are fixed (if market spread is not widening of course).

Thanks,
Jakub

[Trade against customer]

@manafull Incorrect. The value of the ASX 200 Index will be close to the ASX 200 Cash contract.

[Manual Currency Conversion]

On 07/05/2020 at 19:39, Guest James said:

Dear all,

I am a bit confused about the wording used to describe Manual Currency Conversion (My base account is in GBP but ALL my trades are in USD)

 

Quoting "Clients who choose to convert currencies manually will pay commission of 2 cents per share with a minimum charge of $15 on US stocks"

 

Does this means that for EVERY trade I will pay an extra fee of 2 cents per share with a minimum charge of 15$ per trade

OR

this means that ONLY when I will convert the money from USD to GBP I will have to pay the 2 cent per share charge, min charge 15USD?

Hi @Ravuol and @guest James,

Our fees are transparent and I'm more than happy to go through them. 

I'm not sure if James is talking about a Share Dealing or a CFD account as the commission structure is different however I believe he was talking about Share Dealing.

If you choose the manual conversion, this means that your account will become a multi-currency account and we won't convert other currencies into GBP automatically. You will pay $0.02 per share with a minimum commission of $15 (up to 750 shares the commission will always be $15, for more $0.02 * number of shares).

If you leave the instant conversion, we will charge you 0.05% on top of the conversion rate and £10 in the first month. If you make 3+ trades we won't charge you anything during the next month, only the 0.05% fee for converting the funds. 

All this info is available here.

Thanks,

Jakub

[Automatic selling?]

On 28/06/2021 at 08:53, Guest Manthan said:

I had 146 shares of TRCH, IG has sent e an email saying i sold them, and brought another postion worth 73 shares. However this is impossible as the market is not even open. its not even possible to trade. 

Hi there, 

There was a stock consolidation on TRCH with a ratio of 1:2 .

Thanks,

Jakub

[share purchase]

Hi @thewood,

We need to have a deeper look into your account. Please send an email to our dealing desk helpdesk.uk@ig.com

Thanks,
Jakub

[What qualifies an ETF to be held within an ISA trading account?]

@underestimateme I found a good article about this topic here

[Consolidated Tax Certificate (CTC)]

3 minutes ago, Navarone said:

@JakubIG Fantastic. Didn't even know AU got one. Makes life easier. 😃

Hi, I just got the confirmation that for AU clients they should be released next week. An email communication was sent to all the AU clients in June confirming that the statements would be released in July 😉

[Trade against customer]

@manafull The ASX200 Index value can be found here. 

[Phone Waiting Times]

Hi @TimThomas, 

Currently call wait times are extremely low, we have increased significantly the headcount over the last months and we are trying our best to answer incoming calls within seconds or a couple of minutes in the worst scenario.

I'm sorry to hear that your call wasn't picked up quick enough. Should you call us again to deal I feel confident in saying that our Dealing team will meet your expectations. 

Let me know if there is anything else we can do for you (Carbon Emissions are available for Online Trading again).

All the best,

Jakub

[Hertz global holdings]

27 minutes ago, Sagarman said:

Why hertz global holdings not active in trading hours?

Hi @Sagarman,

Hertz was delisted from the main Exchange and is now trading on OTC. We don't offer OTC markets, this is the reason why you don't see it ticking on our platform. If you need to close a position, please give us a call.

https://newsroom.hertz.com/2021-05-12-Hertz-Selects-6-Billion-Bid-From-Knighthead,-Certares-And-Apollo-To-Fund-Chapter-11-Exit

Thanks,

Jakub

[Trade against customer]

@manafull We are talking about 3 different things: ASX200 Cash contract (IG), ASX200 Futures (IG), ASX200 Index. 

ASX200 Index: This is the value you normally hear in the news, radio, TV. It is not a tradable asset, it doesn't trade in the underlying market. It is just a representation/value/benchmark designed to measure the performance of the 200 largest Australian stocks. 

ASX 200 Futures: The ASX200 Futures contract is the benchmark equity index futures contract in Australia, based on the ASX200 Index. It is a tradable asset in the underlying market, a future contract with different expiry dates. The price you see on IG platform, is taken directly from the Exchange and we wide the spread.

This screenshot is taken from Bloomberg:

 

ASX 200 Cash contract: This is the price shown on your screenshots. We derive the 'cash' price from a tradeable future by adjusting it for the "Fair value". It doesn't have an expiry date and the spread are significantly lower than a Futures contract.

The Cash contract is mainly used by short-term traders as the spreads are lower. On Germany 30 i.e. the spread on a Cash contract is 1.2 points vs 6 points on Futures contract. 

This is our Indices business model and it allows us to hedge in the underlying market with Index Futures contracts.

Once again the Index value you hear in the news doesn't trade in the underlying market.

If you try to compare that value with what you see on the IG platform than of course you will notice a small difference. The trend and the % is usually the same between the Futures contract and Index value. 

I hope this helps.

Jakub

 

[What qualifies an ETF to be held within an ISA trading account?]

4 minutes ago, Caseynotes said:

same notice, I've never had a problem with pdf's before?

Mmm I'm not sure what the issue is. I'm able to open it. Can you try on Chrome? 

[What qualifies an ETF to be held within an ISA trading account?]

@Caseynotes strange. Try to copy and paste http://www.marketdatasystems.com/content/files/Stockbroking Share List.pdf this on your browser.

[What qualifies an ETF to be held within an ISA trading account?]

Hi @underestimateme,

The HMRC decides which instruments are ISA eligible and which are not. 

I'm sharing this link updated every morning with you, which has a full list of instruments on Share Dealing. There is a column "ISA eligible" which indicates if it's ISA eligible.

Thanks,

Jakub

[Consolidated Tax Certificate (CTC)]

Hi all @Navarone @Phrilly @nmase88 @Tcs106 @ShareRover ,

First of all I would like to apologize for the incorrect ETA on the above. 

UK update: The statements team and Head of Share Dealing has confirmed that the statements are expected to be released before the end of next week however there is an expectation that this will be done earlier this week.

The reason for the delay is that we are ultimating the due checks in order to make sure that the released data is correct. If an error is found, this delays the process. As I mentioned earlier there is a high expectation that all the CTC will be released by the end of the next week which means that they might be released also this week. 

AU update: The financial year has just ended in Australia. I will post an update in the following days in regards to your CTC. 

I hope this helps and once again I would like to apologize for the misleading info. There is a project in order to speed up the whole process and from the next year this will be improved.

Thanks,
Jakub

[Bed and ISA]

Hi @Lazy7, 

We offer Bed & ISA on UK stocks only. If you wish to request one, please send the following template to helpdesk.uk@ig.com with the required info.

"In order to complete your Bed & ISA, please complete the information required below:

 

Bed & ISA process:

 

Please ensure the full information is provided

 

Account number:

Share Name:

Number of Shares / Value:

 

Note: Bed & ISA’s can only be actioned for UK Shares only.

 

Notification of costs:

 

Costing is as follows:

 

£40.00 dealing charge per share line.

£30.00 capped spread charge.

£2 PTM Levy (For transactions over £10,000 notional)

Stamp Duty 0.5% of Notional value (If applicable)"

 

Thanks,

Jakub

[Trade against customer]

There is a big confusion here. 

@manafull you are an AU trader and someone from the UK mentioned the L2 platform on this post.

The L2 Pro level is a client status in Australia, L2 dealer is a platform we offer to experienced traders who want to trade SHARES DMA (only shares).

Professional Australian clients can't trade the ASX200 Index value directly in the market (this benchmark is not even trading in the underlying market, the futures contracts on it are!). All the clients are trading the same instrument over the counter. 

As you can see, we offer 2 type of contracts, CASH and FUTURES.

FUTURES: The price of the Futures are coming directly from the exchanges and we just adjust it by making the Spread wider (this is how me make money at the end of the day!). You never pay overnight funding on Futures.

CASH: The Cash contract price is the Futures price adjusted by the Fair Value  which is taken directly from Bloomberg and updated throughout the day. It consists simply in readding the dividends and substracting the interest to the price of Futures. 

You mentioned that you are paying the overnight funding, it means that you are trading the cash contract which doesn't have an expiry date.

The reason why traders prefer the Cash contract over Futures is because spread is smaller and it doesn't have an expiry date. 

 

I hope this helps. If you are still unsure about this maybe consider calling our Dealing Desk in Australia and they will explain this to you over the phone.

@Caseynotes thanks for tagging me! I couldn't see this post 

[Sell covered calls for stocks that are already in my portfolio]

Hey @Fran2210,

Unfortunately that's correct. 

Thanks,

Jakub

[Sell covered calls for stocks that are already in my portfolio]

1 hour ago, GodAtum said:

Hi all,

I signed up for a demo account, but can only see spread and CFD trading. How can I get a demo stock trading account?

Many thanks

Hi @Fran2210,

You can't buy/sell options on a Share Dealing account.

You can only trade them on a CFD/SB account by calling our dealing desk, we will quote you the price and place the deal for you.

Thanks,
Jakub

[Stock paper trading?]

Hi @GodAtum, 

We only offer CFD and SB demo accounts. We don't offer Share Dealing demo accounts.

Thanks,

Jakub

[ISA Cash to ISA Investment Account]

Hi @MayLouise, 

If you hold an ISA with a different provider, you can transfer over to us both cash and holdings. 

Let's say that you hold a Cash ISA with a different provider which consists of £70K cash from previous FY allowances. If you haven't used any allowance for the FY21-22, after transfering £70K to IG you will still be able to deposit £20K more for a total of £90K (the other provider sends us your ISA allowance history). 

You can initiate the transfer on MyIG > Live accounts > ISA > Cash/stock ISA transfer.

Thanks,

Jakub

 

[Death of account holder]

29 minutes ago, SergioKun said:

How would IG handle my death, and how can my family access the funds i have in my IG account?

Hi @SergioKun,

In this unfortunate event your family should send us a Grant of probate and a death certificate in order to access the funds.

Thanks,

Jakub