VK

It’s been going on for weeks guys...see older posts on overnight funding topics.

Temporary moved CFD trade to other brokers. The interest and spread is a bit too much to be trading on fair ground at this point. It's a shame.

I agreed, the overnight funding has also increase a lot more again. Doubt the difference in Future price has changed that much.

Try looking around other platform (but make sure they are reputable), the margin required are much lower and some even pays you interest for holding long positions. I was able to net-off some of the losses and make some profit by partially switching. I have also TT those profit into the bank account.

Andrew: lol I totally agreed with u. I was betting someone would have the same perception since yesterday...bingo~ But sadly Caseynotes will always come back with some sad logic and has his last say...It’s almost an addiction haha. Let’s be nice and let him have that honor. There r better things to do than to argue with ignorance in times like these: PS: Caseynotes, yes go on, have your last said in the most condescending way u can...good boy:)

In my humble opinion, could IG see the issue from the view of the client. I am not the only trader whom has issues with the overnight funding...telling us to do Futures (A$5 per pip which is more than my usual A$1 per pip with a min 2 contracts requirement) doesn’t really help our situation. It’s too late to realise that...doesn’t help client feel nice that We choose the wrong instruments. It’s forcing us to cut loss or continue to fund for the daily overnight interest which increase tremendously during the last 3 weeks. IG can justify the overnight interest, but the amount is too much to bear...hence the client is raising this as an issue. We want a solution as to how IG can help relieve some of our stress of paying the interest. That’s a fair request if more than one client has the same issue.

I was advised by some traders to cut some losses and reopen the positions in other provider with lower overnight funding. The margin required is lower and actually paid for longing the crude now (as exposed to paying interest to keep them going).

What are the charges for rollover for every quarter for 1 contract?

I agreed with everyone, I have to paid over A$800~A$900 per week for Crude Oil interest. Spoke to IG rep and he said it's calculated correctly and they have no control over it. It's hard to bear this interest for anyone...and they won't do anything to help.