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neueneuen

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neueneuen last won the day on June 14

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  1. @D-B, there is no such functionality directly in the API. You will receive every candle update (throttled a little if there are too many compared to TICK mode). To achieve what you want, you will have to include CONS_END field (which is set to 1 on the first event of the new candle), process all the events in the order they are received, processing pseudocode if (event.cons_end == 1) save_candle(last_event) last_event = event UTM represents the beginning of the period the candle represents, hence its not changing within the candle period. If you choose TICK mode, UTM will change with every event.
  2. Not exactly. Your chart is showing a Mid price which is simply a calculation of middle between Bid and Ask. You can (almost) never buy or sell at Mid price because it does not exist in the market, it is simply a calculation. You long at Ask, you close a long at Bid; you short at Bid, you close a short at Ask. Your stop loss for a long position is the stop loss that will close a long, therefore should be matched against a Bid price and therefore a Bid chart, not a Mid chart. To show a Bid chart click on the Mid text near Daily text on the top left side of the graph and choose Bid. Ask minus Bid or Ask minus Mid doubled is spread. To simplify, this is essentially the commission you pay to the broker. From a commission perspective, the broker (IG) does not (should not) care whether your position goes up or down - it affects your profit and loss, not theirs (in IG case you would also pay ~0.8% for conversion of profit or loss if currencies of account and instrument don't match, but this is besides the overall point). The broker cares from risk perspective (you having enough margin) but not from profit perspective. All that being said, when you posted the question initially, it interested me and I went and checked. I could not find a price at that moment that would trigger your stop loss at the described time either. Now there are some conditions that could have triggered force closure of a position despite market price - e. g. if you did not have enough margin in the account for all positions, not just this one - but this information is not available in your post.
  3. @HydroBoy, not financial or legal advice, cash account and CFD fall under CGT (futures and CFD allow offsetting incidental costs (overnight/funding) against profit/losses), spread betting usually is not taxed, one cannot offset CGT against spread betting PnL and vice versa.
  4. @cate, June 11 is behind us, Tier 1 margin for TRY pairs has been set at 15%, not 5%. Pity.
  5. @amonk, if you're trying to short on an ISA account, this is contrary to ISA rules and is restricted everywhere. The motivation is kind of that ISA is intended as cash-only account and shorting implies loan (when you short, the counterparty loans you the shares which you sell). The only way to somewhat of short on an ISA is through long on an inverse ETF (https://www.investopedia.com/terms/i/inverse-etf.asp), but this is more complex than simple shorting, and I'm not sure if any are available at IG (I haven't checked).
  6. @RayA is this what you're looking for? https://community.ig.com/blogs/blog/1-ig-community-blog/1-dividend-adjustments/
  7. @cate, fully agree. Not even from the best client experience standpoint (which I, as a client, want, but I appreciate businesses sometimes have misaligned incentives with their clients despite what Principles from the FCA Handbook might tell us) but from a profit for IG standpoint. If they're doing things right (and if they're not, they have bigger problems than a few FOREX pairs), they get X% of profit per volume traded and per volume overnighted, so maximizing volume their clients trade should be beneficial for them. Increasing margin requirements 25%/7.5%=3.33 times means there would likely be 3.33 times less volume, hence 3.33 times less profit for IG no matter the client profit or losses. Especially in the case of TRY pairs, where minimum trade is so high (~£50k min margin requirement for EUR/TRY after margin requirement changes) that most would not even be able to make a trade at all with new margin requirements as they don't have enough deposit. As far as I can tell, market conditions for TRY have not changed in any way to make this margin requirement change necessary. During the elections it was more understandable. Unless their goal is to stop clients from trading these pairs. As I said, this does not make any sense to me at all.
  8. @cate, as far as I've been told, morning May 24 IG liquidity provider notified them about some market discovery along the lines of "the market is pricing in future Turkish central bank rate decline hence we need to increase the margin requirement and this is why swap was so low for overnight May 23-24". Swap bid was applied that day at 6.8% annualized (and swap was applied at around 10:30 am BST which is ~2 hours later than usual at IG and 14.5 hours later than the end of the trading day when overnight is supposed to be calculated - swap bid shown on the platform was lowered right before 10:30 am which is not how overnight should work) for USD/TRY which is roughly 7.35 times less than the CB rate and several times less than short term swap rate that day. As far as I understand, there is no relation to June 11 margin changes. As far as I understand, IG does not know whether the margin returns to the previous values and when. This does not make any sense to me.
  9. When I started reading this thread, I was going to respond that IG has already provided the new margin requirement in the announcement email. Then I looked closer at the email, which says, I quote, > We’ve just completed a general margin review on our non-equity markets to bring them in line with current market conditions. The affected asset classes are forex, indices, commodities, bonds/rates, exchange-traded funds (ETFs). The links are to old (current) margin requirements! It does not make any sense within the context of the paragraph. This is kind of disingenuous as a separate issue. So I second (third) the question in this thread: why traders are not given the new margin requirements?
  10. @alpen is right overall, but I think demo account requirements differ from live account, hence him being wrong on some details (or maybe he's simply in a different market than me where they're different). Minimum bet for EUR/TRY is £0.5 and the current Tier 1 margin requirement is 25% (was 7.5% not long ago and no one knows if it goes back to 7.5% anytime soon). Therefore, the minimum margin (aka deposited money) required would be around £51500 to open the minimum (quite large) trade. USD/TRY is slightly better, minimum bet is £0.2, so the minimum (still quite large) trade would require around £16150 margin. If it helps, you can open smaller trades on a CFD account, where EUR/TRY Mini exists, but of course this would have different tax implications than spread betting. Also, @ducatiman998 make sure you understand FOREX swaps (holding position overnight) before you go anywhere near TRY. TRY swaps are extremely expensive (and if you're trying to earn the swap by shorting, the swap bid/ask spread is very high and volatile and your credit might be much lower than you anticipate) and if this is really your first FOREX trade, you're in for a very rude awakening once you see them applied. Just wanted to flag this for you - Turkish lira is probably not the best pair to start trading FOREX with.
  11. 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?
  12. Hey @KoketsoIG, I hope you are well. Same problem today. GBP/TRY (and as far as I can see, other TRY pairs had similar situation today) swap was applied off swap bid=157.92 which is ~14.2% annualized when IG estimates funding rates in TRY as 52.99% (see below) and Turkish CB rate is 50%. That's ~3-3.5 times less than expected. Could you kindly investigate, please? WBR
  13. Hey @KoketsoIG, I hope you are well. Any news on this? WBR
  14. 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
  15. 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
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