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Posts posted by Caseynotes
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Nasdaq ends the month over 2% higher at a new all time monthly closing high.
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Do they mean us? ???
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I think though it can be programmed in it is all a bit problematic as a trailing stop is a limit order.
Hi BMP, auto trailing stops can only move in one direction.
https://www.ig.com/uk/glossary-trading-terms/trailing-stops-definition
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Hi @abhishekpatwani, It may not be possible in some counties due to local law but IG help staff have been caught out with so many suddenly wanting new accounts in different countries, many clients have reported wrong information being given out initially, it may take a bit of time for all to become clear.
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Hi @abhishekpatwani, the best thing to do is to ask them. All IG web pages start with ig.com/then the country code, UK is uk, Australia is au and Swiss is the link below,
https://www.ig.com/en-ch/welcome
In the page at the link below click on the 'learn more' link to send you to each countries own welcome page.
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Hi @GbemiO, thanks for the info, have you funded the account, where there any problems on that side?
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57 minutes ago, GbemiO said:
Will IG UK consider creating micro contracts for those of us with small accounts? Because the new margin requirement is just too much for even mini contracts . I understand the rules are there to protect our funds, but there will be nothing to protect if I can't even trade in the first instance (Well perharps my capital)
Hi @GbemiO, That has been raised recently on the forum but without comment from IG.
IG has announced they will be releasing a range of new CFD (/ spread betting?) products that are ESMA compliant in the near future but no details given as yet.
Mini contracts (1/10) are already available on the CFD platform and on the MT4 spread betting platform.
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Hi @Medusa123, just wondering, did you talk to IG Australia? Already being an IG client the sign up for an IG Australian account might be much simpler than starting fresh with a new company and as well avoiding the esma regulations.
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Yes, ASIC is Australia's version of the FCA. Account protection of up up £50,000 is provided by the FSCS (this is also the 'bank protection scheme') in the UK but there is no equivalent protection scheme in Australia. The regulatory authority in both UK and Australia (FCA and ASIC) demand client funds are held in a separate account to the brokers (ring fenced).
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Understandable @JohnRoxton, so many border countries are one foot in, one out and always under pressure from the EU to comply so thanks for the update.
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14 minutes ago, JohnRoxton said:
Yes I saw that in the email but I read that Switzerland are going to follow the ESMA ruling.
Hi @JohnRoxton, where did you see that? I would hope IG would have done their research before creating the page which is fairly new and the Swiss office must be aware of any imminent changes. ?
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If you haven't seen this already it answers some questions if you are looking to open an account outside the esma zone, it's a comparison of what IG can offer under each countries own regulations.
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This video is doing the rounds again, published at the end of last year it looks at matching market cycle to strategy to indicators. Very good if you've not seen it before. 20 min.
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I have been wondering just what pensions dates/data are being used that come out before the 12th and 26th, if that was known then a backtest should be relatively easy.
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To answer my own question Switzerland can't come under ESMA as there are none of the esma 'protections' post Aug 1st as per this new IG page. https://www.ig.com/uk/compare-our-leveraged-trading
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Thanks @TrendFollower, also just noticed Australia and South Africa don't have a Gov't backed money protection scheme and does Switzerland come under ESMA or not?
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Podcast
in Indices and Macro Events
Posted
Very good interview with Sean Corrigan. Very quick fire discussion on Austrian Economics. Covers a lot of ground;
Hayek vs Keynes. Sentimentals and fundamentals. The econ crisis. Central banks. The next crisis. Blockchain and crypto. Capital controls. Govt controls. Cashless society. Carney and rate rises (ha). Gold and ETF's. Current situation and inflation and interest rates.
About 1 hour.
https://www.cobdencentre.org/2018/08/state-of-the-markets-podcast/