CharlotteIG

October 28, 2019

22 hours ago, Baxter77 said:

I have bought 100 shares in a company. I have set 2 ‘sell’ orders. One is a ‘stop’ sell order at a lower price to protect against significant losses and the other one is ‘limit’ sell order at a higher price that I would be happy to sell at for a reasonable profit. For some reason I can only put a quantity of 50 shares in for each order rather than the full quantity of 100. Is there a reason for this as only one of the orders will be reached at a single point? Not sure if I am missing something or if I have set my orders incorrectly somehow.

Thanks.

Hey @Baxter77 , thanks for your feedback message.

With Share dealing accounts you can only place one type of sell order for the full amount of stock you hold. Meaning if you have 100 shares you will only be able to place one order to sell 100 shares. One way to work around this is have a stop order in place and set an alert at your desired sell price.

@Caseynotes We don't offer 'one cancels other' orders yet on share dealing accounts but it is something many clients have requested. I will push this forward to our developers to see if it can be done and let you know as soon as I do.

Thanks

October 28, 2019

Hey everyone,

As you're aware UK and European clocks went back one hour when daylight saving time (DST) ended on Sunday 27 October. From that date until Sunday 3 November, the end of US DST, there are a number of changes to our opening hours:

• US and Canadian markets will trade one hour earlier in UK time. For example, US and Canadian shares will be quoted between 1.30pm and 8pm
• All forex markets opened at 9pm on Sunday 27 October and will close at 9pm on Friday 1 November
• 24-hour dealing on indices will opened at 10pm on Sunday 27 October and close at 9pm on Friday 1 November
• US shares (all sessions) will run from 8am to midnight Monday to Thursday, and from 8am to 9pm on Friday 1 November
• In-hours trading on Eurex futures (including the Germany 30) will be available one hour earlier at 12:10am
• Expiring US markets will be settling an hour earlier than usual
• New York Cocoa, Sugar and Coffee, and London Sugar all close an hour earlier than normal
• Weekend trading on indices will open at the same time (4am Saturday), but will close one hour earlier (9.40pm Sunday)

The dealing desk will also close early at 9pm on Friday 1 November.

From Sunday 3 November, the above will revert to their usual hours.

Thanks - Any questions just ask

October 28, 2019

Hey, I've spoken to our developers and they said due to low demand there's no project ongoing for the Apple Watch app return.

I will however bring this up in a meeting with your comment to show there is demand for the app. Hopefully it's something that can be changed for the future.

October 28, 2019

Hey @Julien- As @Caseynotes mentioned we don't have multi-currency accounts. However, you can have two leveraged accounts with different currencies.

The best thing to do is contact our help desk for more information on what would be best for your account and what you're looking to do.

October 28, 2019

On 25/10/2019 at 14:27, dmedin said:

Exactly, and it's not anywhere as useful as the hedge fund/institutional investor sentiment indicators, which are hard to find and would be a fantastic value add alongside open interest and put/call ratios (but there's no chance of us getting them in the platform)

@TrendFollower @Caseynotes @mark27 @DSchenk

It's best to get a feel for what everyone else would want on the platform so thank you for getting back to me. If you do have any other ideas that you feel would help with your trading, let me know.

October 25, 2019

1 hour ago, dmedin said:

If that is true then they really have an interest in most clients losing money, and their business would be in danger if clients became more successful.

Hey @dmedin, as Caseynotes mentioned we don't make money from our clients losing. Whilst I can't speak for other firms, I can confirm that IG is a regulated company who hedge the same way as clients. We make our money from spreads/ commissions not clients losing trades. We prefer for clients to win because that would then encourage them to trade more. You can read more about how IG make money here: How does IG make money

October 25, 2019

24 minutes ago, mark27 said:

Can you look into removing the type of contributor a poster has on their profile based on pure posts alone as someone new comes on here and views posts from a "Respected Contributor" and such and they think this person knows a lot but in reality it's hundreds of posts of 💩

Hey @mark27

I will have a look into this and get back to you next week regarding the outcome

October 25, 2019

Hey Guys,

I’m glad to announce I will be your new community point of contact. I'm taking over from @JamesIG. I have worked at IG for four years on our trading floor but have moved to manage the community.

It will be great to hear any feedback you have for IG and I will happily push these idea to our developers.

Do make sure if you need anything answered to @ me and I will respond as soon as possible.

Thanks, Charlotte 😊

October 25, 2019

54 minutes ago, Mosta77 said:

how much do we get charged per transaction? what are the different fees and charges? Also, if i keep a trade open for a few month, are there recurring fees?

Hey @Mosta77 welcome to the community.

The costs depend on what you're trading.

For all Spread betting/ CFD products (apart from CFD shares) the charge is the spread. So the difference between the buy and sell price multiplied by your size.

With CFD shares you are charged commission when opening and closing positions.

Do be aware that with any cash/ DFB positions you will subject to overnight funding, which for most markets is taken if you hold the position through 10pm (UK time). You can find details of how these are calculate by clicking here.

If you are interested in Share dealing/ ISA accounts you can find fees here.

I hope this helps. If you need anything else, '@' me and I will be happy to look at your questions.

October 25, 2019

10 minutes ago, DSchenk said:

Level 2

Having the same issues again as a few weeks back.

Subscribed to the relevant exchanges via IG.

But no Level 2 data showing up in L2.

@CharlotteIG Can you advise please what's wrong?

@DSchenk- For US exchanges we can't offer L2 order book data, which is why the charges are the same for L1 and L2. Apologies that hasn't been clarified sooner.

October 25, 2019

1 hour ago, Caseynotes said:

It's interesting sentiment and I do like to take notice and would like to see it on the ticket, it's a bit of a double edged sword though, do you go with it or be contrarian and go against it. If it was updated quickly enough it could also be used as something like a volume indicator which due to the way it's collated can be a bit laggy which is why tick volume is often more useful than real volume (number of trades rather than size of trades). Would be interested hearing other traders thoughts.

I will have a look what we can do. But as you mentioned it needs to be updated, which I can check how often that can be done. Further to this it is just IG sentiment, not sentiment for all traders.

October 25, 2019

1 hour ago, DSchenk said:

You have activated ProRealTime. As you currently trade regularly with us, the normal monthly fee of GBP 30 has been waived.
ProRealTime will continue to be available to you free of charge if you meet our minimum number of transactions per calendar month, and we will never debit the monthly fee from your account without your prior agreement.
You have activated ProRealTime. If you trade four or more times with us in a given month, you will not be charged for advanced chart access. Otherwise there is a monthly fee of GBP 30. See our Terms & Conditions for details.

Hey @DSchenk- do keep in mind that that it states 'However, if you don't meet this requirement, or your trading activity is of extremely low value, then a £30 per month fee will apply on the last day of every calendar month.' But if this is the case we will turn off ProRealTime and notify you.

1 hour ago, DSchenk said:

Challenge 2: My Demo account has £20,686 in it. How do I get it down to £500?

Do I need to place a couple of trades to lose it and then charge £500 on it? Lol

You're correct, the best way is to open some large trades, preferably with markets that have large spread, to lose the money. From there, top it back up on the MyIG page by selecting Demo account> Payments.

October 25, 2019

5 hours ago, TrendFollower said:

Is that specifically IG's client sentiment? That may not necessarily be the sentiment overall in the world though most likely for trading it is.

Do you find that when you use IG's client sentiment data that you make correct trading decisions and trade in the right direction of the trade?

Hey @oziebloke- The sentiment is the way IG clients are trading. Do you think it might be useful for the IG sentiment to be on the platform, potentially somewhere on the ticket?

@Caseynotes- If you have any thoughts on this let me know. It would be great to have as many opinions on this as possible.

October 25, 2019

On 24/10/2019 at 03:34, StefanGr said:

Hello, does anyone can explain me how much is the free (swap) for Natural gas?

Thanks

Hey @StefanGr

Prices for commodity DFBs and cash CFDs are synthetically created using the two most liquid futures contracts. This will result in a natural movement between these two contract prices and will be included in overnight funding adjustments. You’ll then either be debited or credited depending if you’re long or short, and whether the next future contract price is higher or lower.

You can see how we make our Cash price which then explains how the overnight adjustment is calculated by following the link below. The section you need to view is 'The better way to trade commodities'.

Commodity cash price

If this helps, the adjustment last night for Natural gas was 4.04 credit to short clients. For long clients the adjustment was a 4.38 debit.

October 25, 2019

16 hours ago, Guest stuart said:

Hi

Do dividend adjustments get posted to the history in a DEMO account?

kr

Stuart

Hey,

With Spread betting/ CFD accounts when trading a forward contract for shares the dividend is built in so you will not see an adjustment, this is the same for futures contracts for indices.

When trading Cash markets you will see a dividend adjustment. If you hold a short position you will gain from the market movement therefore should see a debit on the account. If you hold a long position you will lose from the market movement therefore should see a credit on the account.

Help with dividend adjustments

These should reflect on your demo account transactions.

October 25, 2019

12 hours ago, Fib550 said:

While your here CharlotteIG, do you happen to know if being short Bitcoin on IG has ever incurred an overnight charge, or has it always been 'paid' to be short ?

@Fib550 After speaking with our dealing desk they confirmed that there's always been a credit for short positions held. This can be changed by the desk or our risk analysis team but you will be able to see the changes on the information section on the deal ticket.

October 24, 2019

@Caseynotes

That link should work now. Let me know if there's still issues. It's just an outline of their proposal for change.

https://download.asic.gov.au/media/5241542/cp322-published-22-august-2019.pdf

October 24, 2019

3 hours ago, Caseynotes said:

it looks like Australia is going to go down the same route as well and as expected the new regulations have lead to a rise in brokerages starting up in less well regulated parts of the globe. There is an interesting new twist too with some of these new brokerages using Bitcoin for deposits and withdrawals which enables them to dodge other regulations such as a need for client proof of identity and residency as well as broker 'know your customer' documentation.

@Caseynotes You're quite right there are large changes in ACIS regarding margin.

https://download.asic.gov.au/media/5241542/cp322-published-22-august-2019.pdf

With regards to the new brokerages allowing clients to fund with Bitcoin we have heard of it but not looking to offer this payment method to any offices.

October 24, 2019

21 hours ago, Ottov said:

Afternoon,

I started trading with IG on a regular "Share Dealing" account and then opened up the Tax free "ISA share dealing account"

I am no where near my limit to hitting the ISA threshold but I wondered if I could merge my share dealing account to the ISA share dealing account so essentialy it's all in one place?

is this possible?

Hey @Ottov, thanks for messaging on the Community.

We do offer a service that moves your shares from your Share Dealing account to your ISA. This is called a 'Bed and ISA' transfer. I would advise contacting the helpdesk regarding the charges for this service.

Alternatively, you can sell them yourself and buy them back in the ISA.

We don't, unfortunately, have a service where you can merge the two account.

Thanks, Charlotte

October 24, 2019

7 hours ago, Guest Max Kelsall said:

Would there be any chance in adding the OBV indicator? seen it has been mentioned back in January and yet still nothing has been added

Hey @Max Kelsall- Thanks for your message. I will bring this up in a meeting to our technical team to see if it's possible to add. I will keep you updated.

October 24, 2019

6 hours ago, Guest TradingTimes said:

Will IG change the EU ESMA Laws after Brexit in the UK?

Hey,

Thanks for you message. No matter what happens with Brexit the FCA have announced that they will be keeping leverage the same for retail clients. You can read about this by following the link below:

OPINION OF THE EUROPEAN SECURITIES AND MARKETS AUTHORITY

It is unfortunate that the regulations have stopped some retail clients trading.

October 23, 2019

22 hours ago, dmedin said:

Reminds me of back in 2000 when a UK company was offering 'free' internet domains (.co.uk, .com etc). When I asked them why their 'free' domains cost £2.99, their response was 'well, it's so cheap it's practically free.'

That's how we do business in Britain ... by claiming to be something that we're not!

Of all the industries in the UK that has the most incentive to play by the rules and clean up its act, surely it's got to be the financial services industry. Unless they are hoping to resume their swindling, cheating, fraudulent ways after Brexit.

Hey @dmedin

I've spoken to the marketing team about this. Although we have the footnote regarding the 6 hour time off, I do see where you're coming from so I will pass on the information. Luckily they sit very close to me!

Thanks for leaving your feedback

October 23, 2019

1 hour ago, fintrade01 said:

I have returned after a few months inactivity. I no longer receive daily statements of transaction activity. Accessing both current and previous statements in my account gives only my current balance and no transaction detail. Please explain.

Hey @fintrade01

You should be able to find old statements on the Dashboard by selecting Live accounts> Statement. If it has been a while since you traded those daily statements may not be there. You can get them by going back though your email inbox. The statements would have been sent from statements@ig.com. Alternatively, you can contact our helpdesk who can send you specific statements.

If you simply want to see the transactions for a certain day you can use the History tab and select Custom.

October 23, 2019

11 hours ago, Fib550 said:

Hi,

Can you confirm the amount the currency conversion fee is charged on?
Is it charged on just the spread, profit/loss and overnight swap?

Or is it charged on the total amount of the position, so if I am playing $1 per point and the price is $8000 that would mean a currency conversion charge of $40. And if this sentance is the correct one, then would the $40 be charged twice (for both opening and closing the position), and charged on profit/loss and swap ?

It would be good if you could do an illustration for me with some numbers if possible, I would be shorting BTC at a price of $8000, $1 per point, and holding for 10 days. That would be really helpful!

Many Thanks

Hey @Fib550

We can go through an example. So say you were trading Bitcoin ($1) contract. Lets say Bitcoin is at 7954.88/7990.88. When you open the position it will be in a loss of (($1 x (7990.88-7954.88)) = $36.

What you have to remember is until you close that position the profit/ loss is not going to be realised. So say you had a running profit of $100, decide to close it and the rate of GBPUSD is 1.28658/1.28675. We incorporate the 0.5% fee into the FX rate when we close your position. So we divide the Bid by 1.005 and we times the Ask by 1.005. Meaning we would convert the Dollar profit ($100) at a rate of 1.280179/1.2931837. That's how we incorporate our conversion fee.

If you were holding Bitcoin for longer than 10 days you have to be aware that the overnight funding is a percentage. If you're long you currently pay to hold the position. If you're short you will be credited for holding a position. This fee, because you're holding the dollar contract, will be based off the consideration of your trade. When calculated it will then be converted at the FX rate + our 0.5% fee.

So if you were holding $1 contract, size 1, and the buy price of Bitcoin is 7980 at the time the fee is taken the charge would be (7980 x $1 x 0.0548%) = $4.37debit. This will then be converted to Sterling at the fx rate + our fee.

October 22, 2019

On 21/10/2019 at 14:00, Fib550 said:

Thanks very much, glad I finally understand it.
Any IG admins on here that can confirm the fx 0.5% charge is only on the spread, overnight funding and profit?

In regards to the BTC GBP variant, my issue is as follows.

I hold 1 Bitcoin on a crypto exchange and want to hedge it without selling it, hence where IG comes in.
The BTC GBP variant follows BTC USD price exactly, so if I short 1 contract on IG then technically I am shorting more than 1 BTC USD contract as GBP is stronger than USD. So I can short 0.78 contracts which works out to $1 per point which is great and matches my 1 Bitcoin spot position, however when the GBP USD exchange rate changes up or down it will mean I am no longer shorting exactly 1 BTC.....

I did a test a few days ago whereby I shorted 1 BTC USD (GBP variant) and 1 BTC USD on IG cfd. I chose 0.78 contracts on the GBP variant due to the exchange rate being 1.27 on the day I entered the position, which would match $1 per point. As you can see from the image p/l are not exactly the same due to the exchange rate changing to 1.30 today. As time goes on the rate will fluctuate even further from the inital rate hence not mirroring 1 spot btc usd.

Hey @Fib550

I've had a look at your previous chat. If you're trading in a Dollar contract then when your profit/ loss is converted back to sterling we would use our fx rate to convert as well as add a 0.5% fee within that rate.

If you're trading a sterling contract your profit/ loss is in sterling so we will not need to convert it.. Therefore the 0.5% fx fee is not going to be applied to your Sterling positions when you close it.

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