KoketsoIG

Wednesday at 06:53

Asian stocks rose on Wednesday while the US dollar drifted lower as investors assessed mixed US producer price data and awaited the crucial CPI report, which could influence the Federal Reserve's near-term policy path. European stock futures also pointed to a higher open. The MSCI Asia-Pacific index outside Japan hit a fresh 15-month high, with Japan's Nikkei also advancing. US producer prices rose more than expected in April, however, Fed chairman Jerome Powell called the data "mixed" rather than "hot" due to prior downward revisions, reassuring investors that the next move was unlikely to be a rate hike. All eyes are now on today's US consumer price data. The Nasdaq Composite closed at a record high overnight, with the S&P 500 and Dow also rising on Powell's comments.

Tuesday at 08:47

Asian markets hovered around 15-month highs on Tuesday ahead of highly-anticipated US inflation data. Japanese bond yields rose as the central bank pulled back slightly on its bond-buying program, with the 10-year yield hitting 0.95%, the highest since November. Hong Kong stocks extended their rally into a fourth week, lifting the MSCI Asia-Pacific index ex-Japan to its highest since early 2023. The surge in Hong Kong's Hang Seng index to 30% above January lows is fueled by optimism over positive demand signals and potential stimulus spending by authorities. Overnight, the S&P 500 was steady just below record peaks. A New York Fed survey showed Americans see higher inflation expectations for the next year. All eyes are on Wednesday's US CPI data to see if upside inflation surprises in Q1 were temporary or a concerning trend. Core CPI is expected to slow to 3.6% annually in April. The dollar strengthened, with USD/JPY hitting a monthly high of around 156.4 as traders suspected potential currency intervention by Japanese authorities. This afternoon's US PPI data is being viewed as a warm-up for tomorrow's closely watched CPI figure.

May 10

7 minutes ago, philipellis said:

HI @KoketsoIG

Thanks for your response.

I've never had the message before and then in quick succession I had it twice..
It seems that it was pure coincidence that this happened and is nothing to do with my account. Could you confirm that, please?

Is this more likely to happen in a morning when the markets open?

This still leaves me with the concern that I can't manage my bet whilst it is active and could be at financial risk as a result.

Is it the case that once an order has been referred to dealers it stays there, or can it come back to a state where it is adjustable by me?

Philip

@philipellis,

It has nothing to do with your account.

Please note that it can happen anytime. It can come back to a state that is adjustable by yourself.

Thanks,

KoketsoIG

May 10

12 minutes ago, philipellis said:

Hi

I had a spread bet on this morning and was adjusting the Stop value (which I've never had a problem with before) when I received the message in the attached file.
It was quite alarming as I was adjusting my exposure to a lower value. I was concerned that the new value had not become effective, and I would be at a higher risk, so I closed the bet off.

I thought it was a glitch, but it did it again with my next bet. I called the IG helpdesk but it wasn't clear to me what the agent was saying, apart from something to do with referring the bet to some internal IG team and hedging their position. She suggested that I could call during a live bet to speak to them about the bet but my concern with that is that I could have been stopped out before resolving the matter.

Given this happened on two successive bets, I was concerned it was something to do with my account, but the agent says that's not the case.

I'm now awaiting an explanatory email but thought I'd also ask the community. Can anyone explain this to me in simple terms?

Thanks.

Hi @philipellis,

Thank you for the post.

Please note that sometimes orders need to be worked in the underlying market due to liquidity. Adjusting a stop or limit would produce an error which would require you to call so a dealer can manually adjust your stop/limit.

Thanks,

KoketsoIG

May 10

3 minutes ago, AlfieMico said:

thanks for your update. Can I ask why it’s taking so long? Just feels a little bit worrying as I imagine you have a legal team that could have quickly tailored the documents and it doesn’t feel reassuring that it’s taken so long to update the agreements to reflect this new situation.

Hi @AlfieMico,

No worries, unfortunately, we cannot say as we have not received any update on the pop-up update yet. We will be sure to update this thread when we do.

Thanks,

KoketsoIG

May 10

7 minutes ago, CharlieB said:

Hi

On the desktop platform, my client sentiment "widget" has been showing "no trading activity" for days now . (I note it is working fine on my phone app)

Is it a local issue for me or the same for everyone?

In either case - what is the fix?

Thanks

Hi @CharlieB,

Apologies for the inconvinience. Please note that we have raised a ticket with the technical team to resolve this.

All the best,

KoketsoIG

May 9

1 hour ago, AlfieMico said:

Just spoke with the team and understand the terms haven’t been updated. Those of us who didn’t accept the pop up need to reapply for our isas but the terms are still not reflecting the new arrangements. When do you hope to have the documents updated properly?

@AlfieMico,

Thanks for your response.

Please note that the investments team is working on this and we would have to wait for their feedback.

All the best,

KoketsoIG

May 9

54 minutes ago, Yunfan said:

same as subject

Hi @Yunfan,

Thank you for your post.

Please note that your positions will appear in the order in which you opened them; there is no way to adjust this.

Thanks,

KoketsoIG

May 9

44 minutes ago, neueneuen said:

Hey @KoketsoIG,

I hope you are well.

Same problem most of the last week and this week, TRY is being overnighted at around 20-25% when IG estimated rate is 52.99% and Turkish CB rate is 50%.

But the worst was overnight today, May 9. EUR/TRY swap bid was showing in the morning at 200+ which is very low as it is. Just before applying the swap it changed to showing even lower 189.06 which is ~19.8% annualized which is outrageously low.

19.8% vs 52.99%/50% - this is 2.68 times lower.

What is going on?

It's been more than a month since you've asked the desk. This is an ongoing issue that keeps affecting customers. Why is there no answer yet?

Dear @neueneuen,

Please note that we have taken note of your post for the relevant team.

Thanks,

KoketsoIG

May 8

16 hours ago, AlfieMico said:

Hi, is there any update to this? It has been quite some time that this needs to be updated.

kindest regards

Hi @AlfieMico,

Thank you for your post.

Please note that this has been resolved and all affected ISAs have been reactivated.

This is now only affecting clients who declined the pop-up to agree to the updated terms or have already had inactive accounts from previous years.

Please let us know if you are experiencing this and if you want us to ask the investments team to reactivate your ISA?

Thanks,

KoketsoIG

May 7

@nbancroft, Please note that we have forwarded your suggestion to our platforms team.

Thanks,

KoketsoIG

May 7

3 hours ago, Awilliams said:

@Awilliams,

These are quarterly forwards with different expiries.

How are they priced?: We create a synthetic forward for spread betting clients looking to take a
longer-term view of the price movement of a currency pair. To create the price, we adjust the spot price for TomNext and then apply a wider dealing spread. This can result in forward contracts trading at either a premium or a discount depending on the TomNext rates.

Currency Forwards

Thanks,

KoketsoIG

May 7

9 hours ago, nbancroft said:

Is there a possibility to have a percent gain option for open positions in the trading platform for spread betting?
I know you can see it on the statements sent at the end of the day but it would be nice to see it in the platform for open positions.
thanks.

Dear @nbancroft,

Thank you for your post.

There is a percentage change column which you can see by adding your position to your workspace. Please have a look at it and see if you are looking for something similar or if there is a different suggestion you have for this?

Thanks,

KoketsoIG

May 7

Asian shares, measured by the MSCI Asia ex-Japan index, hit 15-month highs on Tuesday, boosted by renewed confidence in US interest rate cuts. The weaker Japanese yen and a small dip in the Australian dollar kept the US dollar steady. The Reserve Bank of Australia left interest rates unchanged as expected, but suggested little risk of another hike, causing the Australian dollar to slip 0.4% while the stock market rose. Hong Kong's Hang Seng index was set to snap a 10-day winning streak with a 0.9% loss, though markets in Taiwan and South Korea advanced. The Asia-Pacific index excluding Japan gained 0.3% and Japan's Nikkei rose 1.3%. European and US futures pointed to a positive day, supported by last week's softer US jobs data and comments from Fed Chair Powell reiterating that the next rate move will likely be a cut. The yen weakened further to around 154.60 per dollar. Oil prices rose slightly while wheat, corn and soybean prices hit multi-month highs on concerns over unfavourable weather conditions.

May 2

3 hours ago, zappa_69 said:

Please can someone help with explaining why my orders are being rejected?

Bitwise Bitcoin ETF. I also get the same error when trying to order PureFunds ISE Cyber Security ETF?

Dear @zappa_69,

Retail clients can't trade most US ETFs because of the PRIIPS (Packaged retail and insurance-based investment products) regulation. All European and UK retail clients are subject to this. This regulation covers (inter alia):

• Foreign Exchange (FX) Transactions
• Over The Counter Derivatives
• Exchange Traded Derivatives (including ETFs, ETCs & ETNs).

As such, no retail client can trade on any of the above.

Thanks,

KoketsoIG

May 2

Dear @neueneuen,

Thank you for the post.

Please note that we will provide more information on this as soon as we have feedback from the relevant team.

Thank,

KoketsoIG

April 24

1 hour ago, SabreF86 said:

Hello

Newbie question - how do I set my chart timeline to NY time?

Thank you

Dear @SabreF86,

Welcome to the Ig community.

Please note that you cannot change the platform timezone as the timezone applied will be of the country you applied for an account.

Thanks,

KoketsoIG

April 24

11 hours ago, Dbass said:

EDIT* Sorry forex pairs no lower than 0.10 but xauusd 0.50? It won't let me adjust to lower lots

Dear @Dbass,

Please note that the minimum transaction size is 0.1 contracts for most pairs: MT4 Forex products and differs from the minimum on commodities: MT4 Commodity products. Kindly have a look at the minimum sizes before attempting a trade.

Thanks,

KoketsoIG

April 23

18 hours ago, neueneuen said:

Hello @KoketsoIG,

Thanks for getting back to me.

After further investigation, the situation is a little more strange than the margin requirements.

When you go to My IG Dashboard, IG MT4 SB accounts are listed there, but there is no "Open platform" link for them. If you click on the top-right drop-down menu with your full name and "My IG" under it, IG MT4 SB accounts are not listed there, only CFD and non-MT4 SB accounts.

However, if you open the web platform of one of the CFD or non-MT4 SB accounts, and from the web platform click on the top-right drop-down menu with your full name and "My IG" under it, IG MT4 SB accounts are now listed there. If you click on them, you go to regular IG web platform for an IG MT4 SB account! Among other symbols, USD/TRY, GBP/TRY, and EUR/TRY are available there with the wrong margin requirements.

That being said, if you log in into this IG MT4 SB account from MT4 platform, these symbols are not available. Also, they're not listed under the link you provided.

It seems that somehow IG inadvertently gave access to the IG MT4 SB via web platform and available symbols got messed up there.

WBR

Dera @neueneuen,

Thank you for clarifying.

Please note that you can access both the MT4 CFD and SB accounts from the MT4 platform itself, you will have to download MT4 and log in using your MT4 credentials: https://www.ig.com/uk/trading-platforms/metatrader-4/download-mt4

The pairs mentioned are not available on MT4.

The margin requirements for IG.com and MT4 are not the same, MT4 allows for trading smaller lot sizes you would not be able to trade on the IG platform.

All the best,

KoketsoIG

April 22

5 hours ago, neueneuen said:

Hi @KoketsoIG,

I hope you are well.

Could you kindly ask the relevant team to check the margin requirements on MT4 spread betting accounts for USD/TRY, GBP/TRY, and EUR/TRY, please?

It looks like they're double what they are at CFD and non-MT4 SB for Tier 1, non-aligned for Tier 2, and less than for Tier 3 and 4. I doubt that was intentional.

WBR

Dear @neueneuen,

Thank you for your patience.

Kindly check our MT4 product offering (available pairs) with their margin requirements and compare them against the requirements you see on MT4: https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/products-markets-and-trading-hours/what-are-igs-forex-mt4-product-details

On MT4, click on, right-click on the pairs, then select 'specifications'.

Please provide the screenshots of what you see on MT4 if applicable so the relevant team can be able to assist us.

Thanks,

KoketsoIG

April 22

50 minutes ago, neueneuen said:

Hi @KoketsoIG,

I hope you are well.

Could you kindly ask the relevant team to check the margin requirements on MT4 spread betting accounts for USD/TRY, GBP/TRY, and EUR/TRY, please?

It looks like they're double what they are at CFD and non-MT4 SB for Tier 1, non-aligned for Tier 2, and less than for Tier 3 and 4. I doubt that was intentional.

WBR

Hi @neueneuen,

Will do thanks,

Thanks,

KoketsoIG

April 22

4 minutes ago, Techiescot said:

Hi

When will the iShares Bitcoin Trust be open to trade?

Many thanks

Gillian

Dear @Techiescot,

Thank you for your post.

Please note that this market opens at 14:30 UK time.

All the best,

KoketsoIG

April 22

Asian markets are rallying on reduced tensions between Iran and Israel, with the rally expected to spread to Europe, especially lifting the FTSE 100 around 1%. Investors are moving back into riskier assets like stocks and selling safe-havens. However, geopolitical risks remain with a rocket attack on a US base in Syria. Beyond the Middle East, lingering concerns over potential Fed rate cuts later this year and caution over chip earnings are weighing on stocks after last week's selloff. In Japan, the tech-heavy Nikkei lagged the broader Topix's gains. All eyes are on the Bank of Japan meeting on Friday for new inflation forecasts, though no imminent rate hike is expected. For the US, Friday's PCE inflation data is key ahead of next week's Fed meeting, with policymakers signalling no rush to cut rates. Meanwhile, ECB officials are increasingly backing a June rate cut, though disagreeing on the subsequent pace of easing. The French central bank chief said policy easing should happen soon "barring surprises", but then proceed at a "pragmatic pace", highlighting the emerging split at the ECB.

April 22

On 20/04/2024 at 12:55, SAS98KGJ said:

HI, I have been with IG-Index since last September.I keep an average of £50K in my trading account as a buffer for my opened positions in GBP/USD and gold. I have noticed though I have been charged daily interest on my margin of about 8-10K GBP, I don't get a penny paid as interest on my unused fund (though according to the TV ad I have seen, TRADING 212 pay 5% interest on unused funds in the account) and feel it is terribly unfair. I contacted the IG help desk for an answer, all I got was a link to how my overnight funding is charged (https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-) . My issue is not there.

Can somebody answer my question please? Below is the reply I received:

Dear Jay,

Thanks for your email.

The interest you see on the statement is not interest you receive on unused funding.

The interest you have paid/received on the statement is trade related. More information can be found here - https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

If you have any further queries, please do not hesitate to contact us.

Regards,

Trading Services

IG

Dear @SAS98KGJ,

Thank you for the post.

Please note that IG does not operate as a bank and you will therefore not earn any interest on cash balances. The interest paid you refer to is the overnight funding for holding positions past 10 PM UK time.

When placing a spread bet or CFD, you’re using leverage. This means you are effectively being lent the money required to open your position, outside the initial deposit you’ve paid. To keep your position open after 10 PM UK time, an interest adjustment will be made to your account to reflect the cost of funding your position overnight.

Thanks,

KoketsoIG

April 22

19 hours ago, Eastusk said:

Is there any update on A Dividend Reinvestment Plan ?

Thanks

Dear @Eastusk,

Thank you for your post.

Please note that we do not have a dividend reinvestment plan yet and unfortunately, there is no update on a DRIP plan at IG.

Thanks,

KoketsoIG

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