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SpaceStationX

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Posts posted by SpaceStationX

  1. I'm trying to figure out the difference in fees between a Share Dealing Account and a CFD account.

    For CFD when buying a US stock there is a £10 fee. Another fee of £10 comes in when the stock is sold, for a total of +£20 in commission fees on a single buy/sell trade.

    Does a Share Dealing account also incur both a buying fee of £10 and a selling fee of £10 for a total of +£20? Or is there only a £10 commission fee for a buy and sell trade?

    According to this https://www.ig.com/uk/investments/share-dealing/costs-fees if +3 trades were made in the previous month, then there would be £0 in commission fees going forward. If I open a Share Dealing account and incur £60 in commission fees on the first three trades, would there be no commission fee for the 4th trade and onwards? (as long as +3 trades are fulfilled each oncoming month) Or would I pay £20 commission fees per each trade for the entire first month? Does the month count from the first trade that I make, or from a predefined date?

    Thank you kindly!

  2. I want to open a share dealing account and I'm following this https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/how-do-i-open-a-share-dealing-account

    Unfortunately I do not see an option to open a share dealing account on that page. If I go to https://www.ig.com/uk/investments/share-dealing and try to create a new account, it will not let me as it says I already have one. It then points me back to my dashboard in order to open a share dealing account, where again, there is no option to open that type of an account. 

    How should I proceed?

  3. 6 minutes ago, Fletch said:

    Probably also depends on the type of account being opened - share dealing accounts are likely to have a lower entry criteria (whatever it may be) as you are funding all purchases yourself, rather than using leverage with a CFD/SB account.

    I wanted to open a share dealing account indeed, but to my surprise, the only option available was to open account for CFD. I was unable to either untick CFD as an option and no other options were available. 

  4. Came here to ask the same question. Just tried opening an account, 25 years of age with a full time job and I was refused because I don't meet the criteria... criteria which is not listed anywhere. How can I know if I meet the criteria in the future if they don't list the criteria anywhere? If you want me to earn 100k, then just say that 100k income is required....

  5. Hi, 

    I've been using the demo trader for quite some time now, I set aside money for the sole purpose of trading and would like to start soon, but I have a few questions before I actually do.

     

    What kind of fees are there for trading?

    Are fees dependent on the amount of shares that are bought or are they charged per transaction meaning a set fee after successfully purchasing shares and closing positions? 

    Is there a specified amount for topping up an account or can it be any amount?

    Is there a specified amount that I would be allowed to withdraw or can I withdraw any funds that are available? 

    Can I withdraw at any time or are there periods in which I will have to withdraw the money? 

    What are the ways of withdrawing money? Can it go straight into my bank account or can it be transferred for example to PayPal?

    Are there any fees for withdrawing funds? 

    I keep on hearing that trading on a demo account is completely different from trading on a live account, what are those differences that people usually mention? Also is there anything else that I should be aware of before I decide to invest? 

     

    Thanks! 

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