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cate

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  1. cate

    US OIL

    Good advice! Thank you!
  2. cate

    US OIL

    @Caseynotes Thanks for mentioning that you'd posted about this on another thread. That led me to @CharlotteIG 's worked example. Yes, that's the email I received and was questioning. By now, my only real worry is what changes they've made to the code that will kick in at 4pm! Just hoping whatever variable is being displayed in the "margin" field (80%) isn't the same one that'll be picked up by the new calculation! I've had odd things happen on occasion like a minimum stop distance that I'd expect to be about 5 points suddenly expanding when the market gets illiquid to something bizarre like several thousand followed by about 8 decimal places. I have every sympathy with what a nightmare this must be for anyone trying to keep the system functional through all this - just don't want to get on the wrong side of the changes!
  3. cate

    US OIL

    Hi @CharlotteIG, I've just found this post. The calculation is really helpful, but my question is what number should I put in these formulae for a 0.25 position (the minimum size) in the US Crude 1 euro contract. If I replace $10 with .25 euro I get (1) .25 x 1800 (roughly, at present) x 5% = 22.5 euros and (2) 80* 0.25 = 20 euros. The dealing ticket asks for 45 euros margin which is double (1) and so I'm assuming that calculation is wrong and should use 10% not 5%. BUT, why does the "information" tab say the margin requirement is 80%? Is it about to go up 8 times at 4pm? Because the numbers don't seem to be consistent I'm feeling nervous about what logic has actually been put into the computer system, and what will actually happen to my free capital at 4pm.
  4. Oh, and incidentally that 80% margin is for tier 1 - it goes up to 480% on tier 4! Needless to say I'm never going to have to worry about anything beyond tier 1, but still a potential jump from 10% to 80% at 4pm is worrying. @CharlotteIG, is that really what will happen?
  5. Thanks for the reply, @Caseynotes. I can see that would make sense, but it's odd because there was nothing in the email to suggest it was intended for professional clients (and I'm not one). And then there's the "information" on the contract which now shows 80% not the 10% it used to, even though (at present?) that isn't being used to calculate the margin on the deal ticket.
  6. Hi all, IG sent an email yesterday about the new margin requirements for trading oil. Existing positions will have the new charge applied this afternoon, and it will be "the larger of 80 points multiplied by your trade size or 5% of the notional value of your trade, based on the opening level". I trade the CFD 1 euro contract, at the minimum size which is .25 of the full contract. Does anyone know how to apply the new formula? For example what is the "trade size" and what is the "notional value"? What makes it more confusing for me is that the email said that new positions would already be subject to the new charge, but I don't notice any change, although looking at the "information" for the contract it shows margin required as 80%. But the dealing ticket gives the margin on a .25 contract as about 44 euros, which doesn't look like 80%. Just anxious to understand what changes are going to come in, since I have several positions open and don't want to be hit by an 80% (of several thousand pounds?) charge at 4pm when the change comes in! Perhaps I should tag @CharlotteIG on this. Hope everybody is keeping safe! Cate
  7. I use the old platform, with its Flash based charts. They just aren't working this morning - I try to open a chart, do the usual thing of changing Flash from "ask" to "allow", and absolutely nothing appears, just a blank window. I've tried asking IG Client Help on twitter - by tweet and by DM - but no reply. Is anybody else having the same problem? Thanks, Cate
  8. That's really helpful. Thanks so much! I used to use that site, and then lost the link, so I'm particularly glad to have it again. I like the fact you can sort by yield if you're on the hunt for high yielding stock.
  9. Thanks, 247trader! I'd be grateful to know where you found the info, because my usual sources (LSE, Reuters) failed me this morning... I thought IG would have the info somewhere but haven't been able to track it down. Anyway, it's good to know what it was. Thanks again.
  10. Hi all! I have a fairly substantial dividend adjustment overnight for my FTSE positions. I understand that Xmas will have changed the days around a bit this week, but Reuters don't list any stock going ex-div and the IG dividends tab is blank for the FTSE. Wondering if anyone knows which stock went ex-div? Thanks! Cate
  11. Hi, I seem to be asking a lot of boring questions recently! Sorry. But I notice that I had FX charges applied to my USD/JPY position overnight as normal, but nothing for the other pairs (USD/NOK, EUR/NZD and EUR/USD). Is there a reason for that? As you know there've been a few oddities in the overnight funding costs recently - all resolved during the next day - but I'm just watching in case they're a warning sign of something becoming illiquid in the market, or some change in the environment that is making trading a bit more risky. Thanks, and happy trading to everyone. Cate
  12. Thanks Chris. That's a relief! Best wishes, Cate
  13. Hi, All the trading costs overnight used to show up on my account in sterling. Last night for the first time they hadn't been converted from their home currency - so the charge for holding NZD/USD was shown in NZD, for USD/JPY was shown in Yen, etc. I wrote to Client Help about it this morning but haven't heard back. I now notice that my account balance is showing these tiny unconverted amounts. So my balance is mostly in pounds but also tiny amounts, some positive and some negative of 5 other currencies representing the overnight charges from last night. Does anyone know if this is just a blip in the system and will be corrected or if it's going to continue to be like this? It's a bit of a nightmare to keep control of - either remember to do a daily conversion of several currencies or let them build up and risk finding the rate has moved so much that what used to be a modest overnight charge has become much higher because of movements in the FX market! It feels like having to doubly trade out of every position - once the position itself and then every night for the interest that's been charged. Hope this isn't a permanent change. 🙁 Cate
  14. Hi, I download my overnight trading costs into a spreadsheet so I can monitor my cost of trading separately from any profit or loss from the trades themselves. Normally quite easy, but last night all trading costs are showing in their original currencies (NZD, JPY etc) rather than being converted to pounds. I'm really asking IG if this is going to be corrected, but posting it here in case anyone else monitors their cost and is going to have a heart attack assuming they've been charged £76 for holding a mini lot of USD/JPY overnight before they realised the cost was being reported in Yen! Happy trading to everyone! Cate
  15. I've found it! Sorry for the question! (If anyone else is worried by this, the answer is on the charts. Click on "deals" and there's now the option to "show open positions" and "show working orders".) Thanks guys. Happy trading! Cate
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