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Posts posted by David30b

  1. Hi 

    Yes IG have given I believe a statement on NON TRADING for options  or CFD on crypto (which I see no reason why it should not apply worldwide) I maybe wrong on that. All open trades will automatically close on 23/March/2021 - but mine got stopped out a day or two ago. Hope you didn't have too big a position on your short - it will recover but IMHO take a week or more to settle as very volatile at the moment since Elon's statement - but there are very few free lunches in markets. All the best

  2. Hi,

    Fortunately got to professional status now - but yes the interest charges - (I haven't calculated precisely - are extremely high). All I can say is rather than wasting time fighting  - it may be better to look elsewhere for easier trades - which I have an abundance so not a problem for me. Hope all is well with you - I also speak to many personal friends too (I seem to see that you in the past ? have been taking some trades almost personally )-  but traders are not like friends and trust has to earned and then respected  - but I am sure you know this too well.🤓


    • Thanks 1
  3. Hi Caseynotes, (I often read you posts)

    Yes I did see it about this morning  or so after announcement I believe - and responded to a newbie on the subject. 

    Personally it was inevitable (IMHO) cos the way trades have been going - it was and is a one way ticket to profits on a put/call. Certainly dipped from 59k (BTC) to 54k but I personally think it is responsible by IG - as potentially it could wipe them out (or am I being plain ignorant?). As they are only market makers HOWEVER they are making a fair chunk on the sell price buy prices AND interest per day. Still not complaining though!

    • Like 1
  4. 4 hours ago, Joo said:

    If you went negative it's normal that your withdrawal was cancelled ! You can't withdraw money that you don't have.

    Seems likely - there has to be a line somewhere - otherwise they would specifically have an overdrafts team - which would be a time/cost ie loss maker for IG and as 70+% non pro trades are non profitable would rack up losses for IG -  which ultimately would be the end of IG!!!  - OK a bit far fetched but a fail safe so IG DON'T GO DOWN THE PAIN  is what everyone  NEEDS.


  5. Hi 

    I am fairly seasoned (20+ years) - but probably don't know  all the ins and outs ). 1) Maxed out ISA allowance every year - worked ok for shares. Using IG for shares and ISA and spread bets. In SS I have traded DOW/Tesla indexes OK - but currently on BTC - Only thing to be aware of is some highish interest charges on products (like cryptos - which become pro only from 6th Jan 2021)  (only recently increased I believe) - but taking everything into account no problems. Also dabbled in CFD but abandoned with flexibility of SS. Been IG customer for approx 4 years and many years using other providers - but favour IG overall for ease of use. Sorry I am not quoting EXACT interest charges - but it will be different for each product. Just watch out for spread widenings near end of day.

  6. Hi 

    Firstly I feel for your predicament - but there is probably some reasonable explanation to the problem - firstly IG are a professional organisation (in my opinion) - they do take their cut and YES it can be pretty steep at times (just discovered myself in my trades). However the word Ponzi suggests a fraudulent model built and then only to be successful if more people subscribe to the scheme to survive and keep joining - I would disagree with this. Personally I think IG are doing their best (under the circumstances of COVID).

    The word Ponzi is being used more today I believe because of the immense strains on the financial society of the usual excellent service of IG. But there is a definite change in finance at the moment all round.

    I believe you have been the very unfortunate circumstance of lack of ownership by IG of your withdrawal (probably - and only IG could verify this due to multiple members of their staff being involved and possibly a mistake being made or deadline missed by seconds /minutes and hence you 5 day withdrawal time frame.  However the question of WHY in todays world does it take 5 days to transfer funds is the pertinent one - This should be either 1 day or instant (if money can go in instantly - why not out instantly - that is definitely one for IG to answer - but I believe those are their WHICH WE ALL SIGN UP TO AND AGREE TO  conditions ie withdrawals can take 3-5 days and THEY MAKE THE RULES NOT US. It has taken many years and $ or £ investment  to set up and system and I consider it  the best for my purposes by a long shot and am a happy customer.

    If you simply follow what they ask you will have your money sooner the only reason they keep asking to verify is in case fraud is involved (I have even encountered this my self and it is just a check nothing personal my account if not running on this basis)

    I hope this is resolved my friend (I feel you are taking it personally) but medical supplies is a VERY PERSONAL thing as you need them swiftly  for your father (I wish him well soon).


  7. 4 hours ago, nkwe said:

    I made a withdrawal last week, I eventually received email saying IG is going to convert the funds into Rands before transfering it to my bank account then they said it will take about 5 days. I wanted to buy medication for my father so I planned well in advance. Until today I have not received the money, when I email them I get whole different stories others don't even read email with understanding.


    They keep on telling me to verify the amount and whether I want to withdraw via card or bank account. I chose this on the day of withdrawal and the money went off from my online bank account immediately.


    IG.COM is operating like a ponzi scheme


  8. On 26/11/2020 at 12:29, 786Trader said:

    One can understand why some investors are reluctant to invest in Crypto.  As a Crypto market observer it makes fascinating viewing. 

    Todays 10% fall for example, after a 90% increase since October. Talk about profit taking. Or is this a classic case of Pump and Dump, just on a phenomenal scale and compressed timezone. 

    Either way, doubters  must now accept Crypto is here to stay and is bona fide currency. It is also a wild wild ride.  If it were an attraction at an amusement park it would come with multiple health warnings and indemnity release forms as mandatory.   However, those with Cahones large enough make some pretty awesome margin.



    Agree with this totally - certainly for a newbie sitting on the fence as to action to take

    • Like 1
  9. On 09/10/2020 at 16:32, dmedin said:

    I'm surprised that white supremacist who stole America from the Native peoples is still recognized in America today.

    Hi dmedin 

    You post today had me interested and questioning the meaning. Until I checked it out. I see exactly your point now if it had happened where would the world be now? Somebody would else would have 'found' America BUT would they have done?  CAn't say But market wise we are trying to 'beat the market' or play with the professionals  - foresight and vision and TRUST in  trustworthy people is only the way I mainly succeed on here. PS I do not day trade but have done well trading (started 40 years ago. I really like and checked out  many of your posts  (over the last 6 months) as you are a  super contributor.You said recently you had been actively trading here for 3 years.? I know more as you have such depth of knowledge. Also  I only stick to what I know or follow. Keep posting and have a good day. I love history.

    THEN ... I though I REALLY must recechk about Columbus and Roseveldt and what now happened on 6/10/20. What a can of worms (well not no we are dealing with peoples lives so yes your comment has educated me more on this fact in history. Which president will have the guts to remove the day completly - one day yes. Anyway thank you for highlighting this day which should not have been set at all.

    • Great! 1
  10. 4 hours ago, Caseynotes said:


    speaking of browsers i see ms has downloaded edge on me, i was lead to believe it was lighter and quicker than chrome but i'm not seeing it, anyone else tried it?

    Hi briefly trying Edge out out and looked ok - but only to solve my immediate problem - have Edge on one screen and Chrome on the second and works fine - will have to look at the set up to fix of chrome going forward

  11. Hi Shaun, 

    There is no time  limit - the only consideration on spread betting  or CFD is daily interest charges. 

    I am not an expert - but keep trades running for hours to 2 weeks mainly trading  the DOW . Holding individual shares - there is no charge only graduated buying and selling costs + FX charges depending on their currency.

    You will also notice that spreads are much narrower (in your favour ) during trading hours eg UK 8am to 430pm or US 230pm to 9pm (UK times adjusted). Commodities I cannot answer on.

    Regards David

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