adatherton
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
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CFD accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd and share dealing and stocks and shares ISA accounts provided by IG Trading and Investments Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957), IG Index Ltd (a company registered in England and Wales under number 01190902) and IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Index Ltd (Register number 114059) and IG Trading and Investments Ltd (Register number 944492) are authorised and regulated by the Financial Conduct Authority.
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This is very interesting. It raises two points that IG should consider:
1. They already allow you to use up to 90% of your full brokerage portfolio value as deposit for CFD or SB trading. It therefore follows that they should also allow stock brokerage only leverage. The model is established with the deposit levels set in the CFD section. Most US brokerages offer 2:1 or even 4:1 leverage on normal stocks trading, as CFD/SB doesn't exist there.
2. All 'daily funded bets' in SB/CFD are funded in sterling, and the sterling rate of interest is charged. It should also be possible to loan in USD, although I appreciate the base rate is only 0.25% apart (and maybe nothing after this week).
I have to say that I find IB's rate for a 12 month USD loan of 0.89% pretty amazing, as 12 month USD LIBOR is 0.855%