OzzieHolder

I did not CANCEL the trades by CANCELLING (though I suspect it may have been possible). My order was in a fill state - 0 filled 5000 shares to fill! I took the OPTION "Delete the Remainder" so my trade was for ZERO trades and both were closed! This was on ASX of course - LSE may not replicate the experience - ASX goes into AUCTION for a whole hour I think! I love IG , I lost Frequent Trader status in July which avoided Custodial Charges! The quarter 1st July - 31st Sept is running out, so they were payable in October! Some companies may have kept quiet? IG texted me yesterday to tell me I had until the 31st to avoid the charge. I chose to perform 3 trades, restore my Frequent trader stats and therefore get exemption. £24 less one or two commissions charges (or nothing if you have executed 3 trades in the quarter). It actually does not matter to them - they get 3 x £8 if you use LSE - or £24 in Custodial Charge in each quarter. But it feels better imho to trade opposed to paying £24 for nothing? ASX commission starts at 10AUD (£5.50 approx) - do the maths!

This problem is ongoing in Septemeber 2023. I expected IG to ask me to confirm my trade and I put in a SELL to get the approximate value in AUD. The purpose was to calculate how much I needed to fund my GBP account with in order to cover BUYS trades on ASX in AUD. I could not use BUY to find out because I did not have the FUNDS to enter a BUY. ASX was closed , I used the default price for my SELL , and , to my horror , it went straight onto the books , and was likely to be actioned when the market opened! I tried to CANCEL the trade but I could not because MARKET IS CLOSED. I then tried to AMEND my ticket but could not enter below the minimum of 1 share. I therefore DOUBLED MY LIMIT PRICE so it would TIME OUT at Market close! Hallellulah that seemed to work!!!! Boo! I now had two SELLS one at 3c and one at 6c! I emailed IG and asked them to CANCEL the trades and explained. They responded that I needed to phone , email requests were disallowed! The MARKET WENT INTO AUCTION , my trades were not filled , and THEN I COULD CANCEL both trades so all is well! Here is the proof , a sample of 5 pages.

Not quite my scenario but transaction date applies for tax purposes - so I am right to wait as was the author of this thread it seems? Is a stock sale reportable based on trade date or settlement date? In most cases, tax law considers the trade date as the date on which a gain or loss is recognized. If you sell a stock at a gain on December 31, you are responsible for any capital gains tax in the current tax year, even though the trade won't settle until the next year.21 Jul 2021

My question is on a similar theme. Keeping the context of the thread, are 3 trades on the 31st March actually going to give concessions in April , or will they be in May? i.e. is the month determined by the transaction date (March) or is it by the settlement date (April)? I found this thread looking for the answer! I do 3 trades at frequent trader rates (£3 each to avoid the regular charge of £8 each) plus I need not worry about about Custody charges of £24 per account per quarter. Incidentally I have an ISA and a Nominee account merely because I cannot hold options in my ISA! IG are superb imho, 3 trades on one of them (or maybe (untested) 2 on one and 1 on the other) gives frequent trader status and waiver of Custody fees on BOTH accounts. I saw today 3 trades in a QUARTER is enough to waive Custody charges so I have been doing 3 trades per month unnecessarily. I am wasting £1 each month splitting one trade into 3 (3 x £3) rather than one trade at £8 but to regain frequent trader status I'd need to spend 3 x £8 and have to wait for the month to change - so I'll continue with it. Todays prie is low , and I might be wise to buy today , but I'd risk having 6 trades in April and none in May - so I'll wait until Tuesday.

Thank you Casey, good advice, wilco

I have a nominee account with stock and options for the same company on both AIM and ASX. I am at risk of being charged a Custodial fee on one or t'other account after a price drop/placement. IG have waived te charge for this quarter though I do more than 3 trades a quarter anyway, between the two accounts. No point in having a nominee account now? The ASX company is on the acceptable foreign stocks list for my ISA! I therefore want to close my nominee account entirely and move my stock and options into my ISA. Can I bed and isa all four groups (ASX stock and options, AIM stock and options) as one , or two ASX and AIM , or can the options just be moved across? I want to do this now whilst the nominee account is below the £20k threshold., by not a lot! Will I get a response from IG on this forum, I do I need to raise it directly with them?

Not impressed with IG initially - Online Chat went unanswered so I tried the phone and got the same result. I needed the answer quickly because I had a power cut at home and could not complete the 2 trades I needed before trading ended for the week. The first one had gone through so I still needed one more. My only hope was the hour that ASX would be open on Sunday night (UK) though it would already be Monday in Sidney! If anybody on here knew the answer they did not reply so I gave it a go and sold a few shares on ASX. IG's strength showed through immediately. I was able to sell 40 shares for £2 which was a surprise (given the minimum trade in London is £90 unless it is closing a position). And the trade was timed as 28th Feb 23:30 hrs and , bless them, this morning I was offered a trade on aimat £3! Not their fault - but the stock I wanted issued a 7am RNS and thereare no shares available because it was well received! I'd anticipated a rise which is why I wanted frequent trader status back after forgetting to keep it in December. IG are near perfect - they allow trades in my Share dealing account and ISA to be combined in the trading count, have not done it yet, but my stock on ASX can be held in my ISA (this is not true for every ASX stock - so please check with IG before you decide to use this). I enquired when contemplating a Bed and Isa from my Share dealing account which has some ASX shares. The one small problem I have with them is the London office's handling of a share issue. I had a battle to order excess shares and still have no sign of my option shares which are available at a fixed price for 2 years! The Aussie office got it right and my options appear in my portfolio as expected. I just need the price to more than double to make the options worth buying on ASX , a 50% rise on AIM will do it. Over and out - thread closed.

If I do an ASX trade on February 28th before midnight GMT will that trade counted as February (i.e. GMT) or March (Ozzie time). I have two February trades and need another to receive Frequent Trader status for March.

Of course Davey. It is all I do. I opened a share dealing account from scratch so cannot do anything else unless I opt in for the other stuff. You need to do the opposite and find the option for share dealing I guess. BTW once you succeed the minimum trade seems to be £90 (it was £60 I think). You can get quotes for as few shares as you fancy which is great for calculating the the number of shares you can afford with your balance. I had £51.22p in my account - getting a quote for £51.22 cash came up with a number that cost a few quid less. I upped the number until I got to £51.21 and traded .... rejected because it was less than £90. Have fun , it is very good here - especially that "quote" option (FTSE only?) , rather than "limit bids" which helps me get me exactly the deal I want. It might vary on busy stocks , mine have very low daily volumes.

We know 3 trades in a month are rewarded by a £3 commission rate in the following month. If a February trade settles in March - which of the two months applies please? I have 2 trades that were completed within March , and a buy on 26th February which settled 2nd March! Is that 2 or 3 trades in March. Recent history shows 2 , but last 90 days history shows 3 , for March, because the trade date shows on the former, and settlement date on the latter.

Thanks Big Deal, I have done quite a bit of ASX trading since and twigged how it works. Occasionally I buy more than is shown and I get precisely the number shown on a partial fill, and the next lowest price appears on the ticket! I edit my ticket to that price and it does the same again if my order has not been filled. I usually have to edit the number being bought (which has to be the original TOTAL less all partials that you want) for lack of funds! First time I did that, I changed the number wanted to the number available at the new limit price, and of course (with hindsight) it closed the trade because it was now filled! Cost me another commission to buy the outstanding shares :O) Good fun, best wishes Ozzie

Casey, I think you've nailed looking at you snapshot. 212,966 was one of the numbers I saw a day or two back. It must be the size of the last trade whenever that was? The indicative share price is presumably from those trades too .... which is why my offers are not accepted. The update to live data action is now in context too! It leads to this section (starting) .. Data Feeds Data feeds give you control over which shares and live prices you see. Activating one of the data feeds below incurs a small monthly fee. However, we will refund this fee in each month that you make the minimum number of trades on that exchange. This number is indicated in the column marked ‘Rebate level’. Sorted! Cheers, two birds with one stone there! Wondered what that meant.

Thanks for trying Casey. Incidentally, Casey or Stoner was one of my first choices for my 'handle' but then I thought of Chris and Jack Holder, who have a history of riding with Poole Pirates (my local speedway team) and that was much easier to finish off. TOU are TLOU on AIM, the busier market place for them by an Aussie mile. A couple of times my best option (shares obtainable for the dividend) was to suffer the loss on FX in converting my dividend to GBP and buy on AIM for £8 rather than £20 on ASX.. That approach is still available to me here, even more so in fact , I can choose which market and IG do the currency conversion as part of the trade. Funny but swings and roundabouts now mean I'll be paying £8 on AIM, and £5+ on ASX unless I become a frequent trader (£5) which is becoming increasingly likely. Loving it here, am thinking of moving my ISA over but that broker charges to close an account (one of the few downsides there, but never thought I'd be tempted to leave them. They charge £5.95 per transaction full stop with no pressure to trade, I guess I'll stay there). Thanks again.

TOU is very quiet on ASX most of the time so the 254,434 and 43,946 may not change within hours. I can only think it is the number traded at the price shown, judging by the busy shares. I tried to sell at 0.120 but there were no takers so I guess the sell price is 0.115 or lower and buy is actually 0.120 Quite confusing?