OfentseIG

March 17, 2023

17 hours ago, Mikey said:

Thanks for coming back to me 😀

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/margin/what-is-margin-call

Just reading through the notes, I see you're technically on a margin call at 99%? So to use my example again if the price dropped 10 points to 2634 presumably that's when I'd be on margin call?

P/L: -£18.50

Margin: £487.29

Equity: £481.50

Equity is at 98.8%...

Am I right in saying that would trigger a notification email to say I'm on margin call... Then at 75% (2566) I would get another warning... Then at 50% (2498) is when my position would be automatically closed?

Or do the email warnings at 99 / 75% only apply to professional accounts?

I'm assuming, being on a standard account, I can stay on margin over 24 hrs and over weekends, so long as I don't get my positions closed by the 50% equity rule?

When you said, "As soon as your Equity = Margin, the positions close out to bring your available funds to a positive number."

I'm assuming you meant Equity = 50% of Margin? Can you pls clarify.

Many thanks again,

Mike

Hi @Mikey

The emails sent out when a client's account gets to 99% and 75% apply for all accounts. That is correct, for UK standard/retail accounts, the only rule that applies is the 50% rule so you can stay in margin call for more than 24 hours. As long as your Equity is more than 50% of your margin, we won't close you out. These rules are different for UK professional accounts.

Positions only close if Equity = 50% of Margin

For example, if your Margin is £1000, and your Equity £500 (due to running losses), the positions will close until Equity > Margin.

Thanks, OfentseIG

March 17, 2023

17 hours ago, scc1963 said:

Hi, I bought a US share in my ISA sold at a small profit. Once converted back to Stirling it was a loss. Is this just down to IG converting from £ to $ and back again?

Is there an account or another way around this?

Thanks

Hi @scc1963

Thanks for reaching out and yes, that is most likely the case. The charges would be commission and conversion charges.

With the ISA account, a client would be unable to convert their account to a multi-currency account which enables you to keep different currencies without converting funds after every trade.

The multi currency setting is only possible for share trading accounts. For multi-currency accounts, clients will pay commission of 2 cents per share with a minimum charge of $15 on US stocks. Changing your currency conversion settings influences the amount of commission you pay. Our team reviews these changes on a monthly basis, so it may take some time to update your account. Please be aware that changing from converting on 'instant' to 'manual' means that you'll no longer qualify for commission-free trading (As shown in the below table) >>>

All the best,

OfentseIG

March 17, 2023

19 hours ago, san604 said:

Thanks! But could you please also write the correct email where I can request this? I see only newaccounts.uk@ig.com which seems to be specific to inquiries of new account applicants.

I see no Live chat in MyIG or on the website. The line for existing clients +35 318 009 95364 is not available. Are there any alternative ways to send my request regarding past trades on my account? Or should I just use the "newaccounts.uk" email and hope it will be forwarded to relevant team? (My account is with IG Germany)

Hi @san604

My apologies. That link is if you want to contact us by live chat. The correct email to use is helpdesk.uk@ig.com

Thanks, OfentseIG

March 16, 2023

15 hours ago, LiamWhite said:

Name Of Stock - Hub Cyber Security Ltd

Name of Stock Exchange - NASDAQ

Leverage or share dealing - Share dealing

Ticker - $HUBC

Market cap - US$183.1m

Hi @LiamWhite

This product is now added to the platform. All the best, OfentseIG

March 16, 2023

22 hours ago, Day3 said:

Hi, please add the following ticker for trading asap:

Name Of Stock - Nexalin Technology, Inc.

Name of Stock Exchange - NASD

Leverage or share dealing - Share dealing

Ticker - $NXL

Market Cap - $7m

Hi @Day3

This is now added to the platform. Thanks, OfentseIG

March 16, 2023

22 minutes ago, Flipperbhoy said:

hello, how do I change the bank?

Hi @Flipperbhoy

You can change your bank details from the desk top on My IG. Click on the live accounts tab and select Card/Bank Details.

All the best, OfentseIG

March 16, 2023

4 hours ago, Mikey said:

Hi Folks, newbie here.

Just the thread I was looking for...

I'm new to spread betting and I want to figure out the dreaded margin call pit fall before I start using real money, hence I've been dabbling with the demo account.

Yesterday I entered a random trade to try and trigger a margin call trade close (50%) but it doesn't seem to work? I wanted to get the thoughts of the community just to see if my logic works out on what I think should have triggered it...

Funds: £500

Natural Gas: 2644

Size / Long: £1.85

Opening Margin: £489.14

Just taking into account whole numbers on the price, 2644, 2643, 2642 etc. on my calculation the margin call sell off should have occurred at 2498...

Funds: £500

Natural Gas 2498

Size / Long: £1.85

Current Margin: £462.13

P/L: -£270.10

Equity: £229.90

50% of £462.13 = £231.07

Equity has dropped below 50% of margin...

This all happened yesterday... Natural Gas ended up dropping to £2454.50 so shouldn't that trade have closed out?

Thanks in advance for any input.

Cheers

Hi @Mikey

Your calculations are correct.

Equity: £229.90

50% of £462.13 = £231.07

That means your equity dropping below 50% of margin would put your account on margin call. As soon as your Equity = Margin, the positions close out to bring your available funds to a positive number.

I believe margin call system on demo accounts has been disabled for administrative purposes.

All the best,

OfentseIG

March 16, 2023

3 hours ago, RICHARDNOLAN said:

How are the funds invested on the IG platform protected if the company went into administration or insolvency.

Can I continue to access my account on the IG platform if IG has financial issues ?

Are my investment funds treated as client funds and access is maintained by me despite what is happening to IG?

Richard

Hi @RICHARDNOLAN

Thanks for reaching out. We have a link on the IG website where we fully explain what we do with clients money. Have a look here:

https://www.ig.com/uk/client-funds

Thanks,

OfentseIG

March 16, 2023

On 14/03/2023 at 21:46, deetsindave said:

I can connect to the streaming API and pull CFD data however I can not pull spread bet data using the spread bet epics?

this happens even if i switch my spread bet account to default through the rest API.

I can connect to my spread betting account through the rest API and pull data that way.

Does the LS stream service support Spread betting markets?

Hi @deetsindave

Thanks for reaching out. It seems like this error might be related to your settings. Could you please send an email to webapisupport@ig.com for more assistance.

Thanks,

OfentseIG

March 16, 2023

10 hours ago, 2wheelDeal said:

I was placing an order for a stock in my ISA account and unlike the demo account I am not given the option to place a GTC order, I am only given "Day" and "Day (All Sessions)".

How do I place a Good Till Cancelled order?

Hi @2wheelDeal

When trading an All Sessions stock, you can only place orders using an all-sessions expiry instead of a normal one. This means your order type has to be a Limit order with the expiry 'Day All Sessions' for your order to execute pre/post market or during market hours.

Thanks,

OfentseIG

March 16, 2023

10 hours ago, 2wheelDeal said:

I am having this issue... did you ever get it resolved?

Hi @2wheelDeal

Thanks for reaching out. Could you please confirm the name of the stock you are trying to trade?

Thanks, OfentseIG

March 16, 2023

8 hours ago, LiamWhite said:

Name Of Stock - Hub Cyber Security Ltd

Name of Stock Exchange - NASDAQ

Leverage or share dealing - Share dealing

Ticker - $HUBC

Market cap - US$183.1m

Hi @LiamWhite

Thanks for reaching out regarding our product offering. Your request was submitted to the relevant team. We will send you an update soon. All the best, OfentseIG

March 16, 2023

15 hours ago, Day3 said:

Hi, please add the following ticker for trading asap:

Name Of Stock - Nexalin Technology, Inc.

Name of Stock Exchange - NASD

Leverage or share dealing - Share dealing

Ticker - $NXL

Market Cap - $7m

Hi @Day3

We have sent through your request to the shares team. We will update you on your request soon. Thanks, OfentseIG

March 14, 2023

On 12/03/2023 at 06:02, SHennig81 said:

Hi Can i run more than one MACD indicator on a chart? im trying to run 3 with different settings but it seems to only have the option of 1 per chart

Hi @SHennig81

Did you try using the split function to see if it works.

Thanks, OfentseIG

March 14, 2023

On 11/03/2023 at 18:00, IDEdwards said:

I use MT4 and MT4 Mobile.

On Friday the Mobile App's appearance changed.

On the Charts screen it was no longer possible to select the Timeframes, the icon disappeared, and all charts are default stuck on 5 Minute candles.

I've reinstalled but the problem persists after reinstallation!

Not being a 5 Minute chart user the App is useless to me now - has any one else experienced this or knows what to do about it?

Thanks, Ian

Hi @IDEdwards

Please check if you might have gone into cursor mode and clicked this:

Now hen you click on the chart it shows x axis and y axis levels instead of the small menu. You would need to click on that same icon again so it changes from this >>

to this >>

All the best, OfentseIG

March 14, 2023

On 13/03/2023 at 09:24, PatrickGNT said:

Hi @PatrickGNT

Thanks for reaching out.

Germany 40 JUN23 will be added on the platform by the 15th of March 2023.

All the best, OfentseIG

March 14, 2023

On 12/03/2023 at 15:37, nigielee said:

I would like a friend to be able to see the trades I'm putting on in real time. Is there any sort of read-only access so he can see them, or any sort of copy trading service for the IG CFD trading platform? (NOT MT4).

Thanks,

Nigel

Hi @nigielee

Thanks for reaching out. Our platform is not set up for such a feature but we can send it as feedback to be reviewed by the relevant team. It might be a functionality that we can have in the future.

Thanks,

OfentseIG

March 14, 2023

On 12/03/2023 at 05:44, tintin said:

Looking to invest in ETF every month a specific amount. Is it possible on the platform?

Hi @tintin

Thanks for reaching out about our market offering. We currently do not offer this specific feature on the IG platform but you can have a look at IG Smart Portfolios to see if these would interest you.

All the best, OfentseIG

March 14, 2023

On 11/03/2023 at 18:49, san604 said:

Hi all,

could someone please show me where I can get a detailed transactions statement for options account?

MyIG CSV history file comes with missing data on number of contracts and open/close levels. I need this information to report my taxable income

Hi @san604

Thank you for reaching out. You can reach out to us over email or the Live chat for a quicker response and request this statement.

All the best, OfentseIG

March 14, 2023

On 11/03/2023 at 14:36, IBLE said:

I just signed in back to my IG demo account after a while it's been more than 30 days. Is there a way to delete the current one and create a new one to practice?

Hi @IBLE

We can reset your demo account for you. This would erase the trading history and return the initial balance to 10,000. If you are comfortable with this option, please reach out to us on the Live Chat. https://www.ig.com/uk/contact-us

All the best, OfentseIG

March 14, 2023

On 11/03/2023 at 09:56, GB49 said:

If I closed my position in one trade of 1000 cfd's I believe I would have been charged a total of £15.

I closed the 1000 cfd's in multiples of100 cfd's at a time, 100 x 10 and was charged £15 per trade of 100 cfd's each time. This resulted in a charge of £150.

Surely if I closed 1000 cfd's in a single trade at a cost of £15, the fact that I chose to close the same amount of cfd's in multiples and not a single trade the difference in cost of £150 in relation to the £15 seems very excessive to me and I am querying if this is in fact correct.

Hi @GB49

Thanks for reaching out and clarifying your query.

Even after one instruction to close all, I believe it would still charge you for the different positions as each would close separately even if it is at the same price. This would still charge you commission of £15.

All the best, O.D

March 14, 2023

On 10/03/2023 at 22:13, MARANATHA said:

Is it possible to use I G on MT5 platform?

Hi @MARANATHA

We only offer MT4 at the moment and our servers are created for that platform. We will however inform you when we integrate with MT5. All the best, OfentseIG

March 14, 2023

2 hours ago, hugoc said:

Hello,

Last week I uploaded all the documents and they have been approved. But my account is still not active. I've sent an email to the helpdesk but haven't had any reply yet.

Can anyone help? Thanks in advance.

Hi @hugoc

We just reached out to your account manager to get you more information. We will update you soon. All the best, OfentseIG

March 14, 2023

On 13/03/2023 at 12:46, Mosaka62 said:

On Saturday the 11th of March I was at IG Trading Summit and Ross Larter demonstrated to the audience how to trade using fractals on JSE Top 40. I am trying to locate htis indicator on IG platform and I am not willing. Can Ofentse help or any other person help.

Regards

Michael Mosaka

Hi @Mosaka62 🙂

Thank you for reaching out on this platform. We will get back to your shortly. All the best, OfentseIG