[Does IG Help Desk not monitor these forums in case there are questions they could answer?]

4 hours ago, eddyed said:

Have asked twice about Dowlais Group PLC but had no reply as to why it is "Closing only: Market unavailable to open"

Hi @eddyed

Thanks for reaching out. I apologize for the delay in responding to you. 

It will be turned on for trading shortly. Please kindly note that going short might not be possible online but you can call in to check if the stock is borrowable on leverage accounts. Sometimes we can accommodate small sizes for shorting. 

All the best, 

OfentseIG

[Overnight funding and interest payments]

On 01/05/2023 at 11:47, AlexB_21 said:

hi there, 

When going long or shorting on ig spread betting account do you pay overnight funding on everything you buy. 

Which are the cheapest to hold short term/ long term etc?

What does it mean if it has an expiry date compared to no expiry date?

Thanks 

Hi @AlexB_21

If you are trading the Spot contract, whether long or short, you either receive or pay interest. Have a look at our overnight funding link. 

However, if you are trading Forwards or Futures contracts, the interest is already incorporated in the price. That means you won't be charged daily interest as the contract price already includes overnight funding/interest. 

All the best, OfentseIG

 

[Position closed query]

On 05/05/2023 at 10:00, CallumM19 said:

Hi Guys,

I have shares in a company that appeared to go bust 2 years back, and the position says closed on here, however the company have now announced a sale in which shareholders will receive a share of the money. Does anyone know where i stand as my shares are still on here and i have no share certificate etc.

Hi @CallumM19

Thanks for reaching out. 

If the company relists or announces cash proceeds for the shareholders, IG would be required to replicate the same on your account. Please reach out to helpdesk.uk@ig.com and our corporate actions team will be able to assist you. 

All the best, 

OfentseIG

[MT4 err 136 just when EURUSD dropped drastically.]

45 minutes ago, waleswizard said:

hi,

is this a common issue faced here at IG? 

Hi @waleswizard

Thanks for reaching out and we apologize for the inconvenience. If you wan to close a position, please reach out to our dealing desk by phone on  +44 20 7896 0079.

We currently have an issue with MT4 where clients are unable to log in or trade on the platform. For more updates, have a look at our status page https://status.ig.com/

Kind Regards, 

OfenseIG

[STDR]

20 hours ago, scc1963 said:

Could someone please advise why Glencore is not subject to Stamp Duty as it's in the FTSE 100?

 

Hi @scc1963

If a stock is domiciled outside of the UK or is AIM listed (and not listed on another recognised stock exchange), then Stamp Duty Reserve Tax (SDRT) would not apply.

All the best, 

OfentseIG

[Stock Requests]

On 19/04/2023 at 22:23, JamesP747 said:

Hi, 

I am requesting tickers $NZF and $NAD be added. I have searched the platform for all Nuveen offered products and these are not available. $NEA is similar to $NAD but is the Amt-Free version (Nuveen Amt-Free Quality Municpl Incm Fnd). While similar they have different yields and trade at different cost/NAV. Thanks in advance.

Name Of Stock - Nuveen Quality Municipal Income Fund

Name of Stock Exchange - NYSE

Leverage or share dealing - Share dealing

Ticker - $NAD

Market Cap - 2.672B

 

Name Of Stock - Nuveen Municipal Credit Income Fund

Name of Stock Exchange - NYSE

Leverage or share dealing - Share dealing

Ticker - $NZF

Market Cap - 1.953B

 

Hi @JamesP747

We won't be able to offer to offer these products for retail clients. US ETFs are restricted for trading due to regulation. Have a look at this post for more clarity.

All the best, 

OfentseIG

[Question about Trade Analytics]

8 hours ago, mondrian said:

Near the top of the Trade Analytics homepage, there are 3 items listed:

• Total return from closed positions
• P/L from closed positions
• Total adjustments

Obviously, the first two items apply to to trades that have been closed for the selected time period.

Would like to confirm that the Total adjustments figure (commissions, overnight funding etc) applies to BOTH open and closed positions, not just closed positions.

Hi @mondrian

Thanks for reaching out. 

That is only for closed positions. 

All the best, 

Ofentse

[maximum limit per trade]

15 hours ago, daehanwi said:

What is the maximum limit per trade?

Hi @daehanwi

It depends on what you are trading and where the market price is. Could you please provide an example of what you are trading and we can check the details for you with the relevant team.  In most cases, you might be required to choose a level not too far from the market price and in most cases not more than 20% away from the current price.

All the best, 

OfentseIG

[Going long on a spread bet]

15 hours ago, jno73 said:

I've picked up a trade that I think will be going well for a good period - I think I got in as it bottomed out. Am I able to just keep that long spread bet position open as long as I wish, as long as funds are in the black etc?

Hi @jno73

Thanks for reaching out. 

If it is a Spot contract and not a futures contract, yes you can. You would be charged overnight funding and would be required to keep your account in a positive balance to avoid margin call. 

All the best, 

OfentseIG

[Commision rebates (Professional Clients)]

6 hours ago, mondrian said:

I get emails from time to time that I've received a commission rebate. Where do I find these in MyIG?

Hi @mondrian

Thank you for reaching out. 

We post these in your account and send email once credited or on the same day of posting. Rebates will be posted by the 3rd working day of the month and reflect as 'Volume Based Concession' in your ledger summary. 

The process to incorporate in MyIG is not finalized yet but you can contact your Account Manager for more information. 

All the best, 

OfentseIG

 

[Open Positions]

1 hour ago, S2020 said:

How do I get the points column showing in my open positions?

Hi @S2020

Thanks for reaching out. 

Are you referring to the size column on the IG platform? 

Thanks, 

OfentseIG

[Future contracts expiration on a spread-betting account]

38 minutes ago, VIM said:

Hi,

just wanted to check what is the default option on a spread-betting account if I hold a commodity futures contract which is expiring on a specific day and I do nothing?

Would it be automatically rolled over (with all the spread and fees costs) or simply closed at the last quoted price?  I've read the "market information" section on the app but it looks quite confusing because it indicates both options but doesn't say which one is the default one...

Any piece of advice would be most appreciated. 

Hi @VIM

Automatic rollovers are enabled by default on open positions on futures contracts.
If you don’t want your futures trades to be automatically rolled over at expiry, change 'rollovers status' on  your MY IG. 

You can enable or disable. 

All the best, 

OfentseIG

[Book cost on day of sale.]

3 hours ago, OYYE7 said:

I traded/sold all my shares on one day in January and on my mobile app, the total P&L was displayed. The book cost was available of the platform that day for all shares. However now I cant access that information anywhere and I need proof of P&L after the sales for my tax accountant. Can I get a book cost out of the system for a day 2 months ago? Why is it listed on the app but not on the platform. And can anyone help me access this?

Hi @OYYE7

Thanks for reaching out. 

We have emailed you 2 statements to assist with your query. 

All the best, 

OfentseIG

[Order Rejected]

1 hour ago, Sporran said:

I'm unable to sell even 1000 shares in API online with IG. I get an ORDER REJECTED message.

I've tried the other order types and it's basically the same result.

 

With another, slightly more expensive, broker I can sell 50,000 shares online in the same stock no problem.

 

IG is the cheapest online broker. Is this why?

 

Hi @Sporran

Thanks for reaching out. 

Please ensure the order type selected matches your price level and direction. For example, if you are selling and select the Stop Market - Day, you would have to ensure that the stop level entered is on the right side of market. You can either correct the level or change the order type to market. 

All the best, OfentseIG

[account is still not activated]

On 25/04/2023 at 20:17, Sonjosh said:

 

Hi @Sonjosh

Thanks for reaching out. 

Our onboarding team will contact you soon. We have escalated your query. They will confirm the details needed to help with your account. 

All the best, OfentseIG

[Travis Perkins shares fall on outlook]

Travis Perkins sees its shares fall after Britain’s biggest building materials supplier said the building of new housing and renovations remains weak.

 Angeline Ong | Presenter, Analyst and Content Editor, London

[Modify Stop Loss and Take Profit]

6 hours ago, Gerard2032 said:

Good day,

 

Why can't I modify my TP and SL when price is withing 20 pips of these?

 

Thank you.

Hi @Gerard2032

Thanks for reaching out.

What are you trading, what's the error message you receive when trying to edit and are you editing when the market is open or closed? This will help us give you the correct response to your query. 

Thanks, 

OfentseIG

[Stock Requests]

15 hours ago, LiamWhite said:

Name Of Stock - 

ARB IOT Group Ltd

Name of Stock Exchange - NASDAQ

Leverage or share dealing - Share dealing

Ticker - $ARBB

Market Cap - 130.58M

Hi @LiamWhite

Thank you for submitting your request. 

We will confirm shortly if we are able to add this stock. 

Thanks,

OfentseIG

[Stock Requests]

On 19/04/2023 at 22:23, JamesP747 said:

Hi, 

I am requesting tickers $NZF and $NAD be added. I have searched the platform for all Nuveen offered products and these are not available. $NEA is similar to $NAD but is the Amt-Free version (Nuveen Amt-Free Quality Municpl Incm Fnd). While similar they have different yields and trade at different cost/NAV. Thanks in advance.

Name Of Stock - Nuveen Quality Municipal Income Fund

Name of Stock Exchange - NYSE

Leverage or share dealing - Share dealing

Ticker - $NAD

Market Cap - 2.672B

 

Name Of Stock - Nuveen Municipal Credit Income Fund

Name of Stock Exchange - NYSE

Leverage or share dealing - Share dealing

Ticker - $NZF

Market Cap - 1.953B

 

Hi @JamesP747

We have submitted this request.

Thank you for clarifying. We will send you an update soon. 

All the best, 

OfentseIG

 

[IG Morning Call]

Asian markets lost ground ahead of today's earnings from tech giants Alphabet and Microsoft, the beginning of a barrage of big-name earnings this week. Risk appetite has struggled to establish a clear direction, but this is hardly surprising given the mix of concerns about rate hikes and a recession and the busy earnings calendar this week. In addition, with the US looking to block chip sales to China another potential geopolitical crisis is looming. Today's earnings from Alphabet and Microsoft, plus General Motors, Visa and McDonald's, are accompanied by US consumer confidence and new home sales. 

[Tradingview integration]

1 hour ago, Xerxes said:

Can you tell is whether the plan is to integrate TradingView for spreadbetting accounts or just for CFDs etc?

 

Hi @Xerxes

This will be on all leverage accounts, i.e Spread Betting and CFDs. 

Thanks, 

Ofentse

[error.public-api.exceeded-account-historical-data-allowance]

9 hours ago, SergioLage said:

Hi, 

I am using REST API to get historical values (DAY resolution) so I can back test my trading algorithm. I am sure I haven't reach the 10,000 points / historical limit in this week, but I got this error and it seems I will have to wait for 7 days before being able to work with it again. It seems to me there is an issue with the 10,000 points. Is anyone else facing a similar problem with this limit?

Also, is there any plan to have a more flexible limit? I mean, limits related to rate and not to the amount of data?

 

Thanks! 

 

Hi @SergioLage

Thanks for reaching out. 

You might have to retrieve one point of data and you will be able to see what's left of your allowance. But if you have used up all your data then the error historical allowance exceeded will confirm. 

We can only provide 10,000 points for all our clients. 

Thanks,

OfentseIG
 

[Back testing.]

17 hours ago, MARANATHA said:

Is there a facility on the I G platform to use as Back Testing, if so how do I find it? 

Hi @MARANATHA

Thanks for reaching out. 

You can back test on PRT and MT4 platform but not on the IG platform. 

PRT:

https://www.prorealtime.com/en/videos_tutorial/141_run_and_analyze_a_trading_system_backtest

MT4:

https://www.metatrader4.com/en/automated-trading/strategy-tester

All the best, 

OfentseIG

[unable to trade BOIL]

On 14/04/2023 at 05:59, Fibotrade said:

Went to place a trade on BOIL. It was declined with a message of 'Sorry. Not suitable for European retail clients'.

I'm in Australia, so that's the first issue. Anyone know why the order can't be placed?

Hi @Fibotrade

Thanks for reaching out. 

The US Regulator has announced the introduction of a new tax regulation called ‘Section 1446(f)’ through the Internal Revenue Service which will impact clients who hold positions in publicly traded partnerships (herein after referred to as PTPs). The net effect of this tax amendment will be a 10% increase in the dividend withholding tax to be charged on PTPs (which is currently 37%, expected to increase to 47%); and a new 10% tax on all proceeds made on the sale of PTP positions effective from the 1st of January 2023. 

IG has decided not to allow the opening of new positions on the known securities. Clients can only close (sell) their existing positions to avoid being charged the new tax associated with the selling of PTPs. 

All the best, 

OfentseIG

[Option strategies]

On 19/04/2023 at 23:28, Patrick said:

How do I execute a combination of multiple options at the same time (e.g. put spread, iron condor, or straddle)?

Hi @Patrick

Thanks for reaching out. 

We do not have the option on the platform. You would have to call in for a dealer to offer you quotes and execute all trades at the same time. 

Thanks, 

Ofentse