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  1. So suppose I deposited USD, and other a certain number of trades, I decide to convert the USD into GBP. How do I do that? And what would be the converstion rate?
  2. So if I select "manual". when and how will any USD be converted into GBP. Do I, as account holder, control when this happens? Or does IG control it? Thanks!
  3. Thanks! What would be the overhead if I choose the 'manual' setting. For example, if the quoted prices for GBP/USD (CFD only) on IG.com are 1.26503/1.26512 sell/buy and I want to buy GBP 10,000, what would be my actual cost? Would it be this (10000 x 1.26512)*(1+0.005) = 12714.456 Thanks!
  4. Hi, I need to move some money from abroad into the UK and invest here. Can I use IG.com to exchange USD into GBP? I would imagine this would entail wiring the money (in USD) from abroad into the UK and then exchange the USD into GBP in my IG.com accounts. What would be the typically overhead? I am hoping that the overhead would be smaller than ~0.6% Currently I only have a share dealing account with IG. Do I need a different (forex?) account?
  5. I hit the same problem today. I had to contact Customer Support via their chat service. The problem was that I set a limit price of 826.6 -- which is NOT a multiple of 0.50 GBX (penny sterling). When I changed the limit price to 826.50, the instruction went through without problem. In my humble opinion, they should have implemented the system in a way that give a more meaningfully error message, such as "Limit price must be in a multiple of 0.50 GBX"
  6. Hi I am answering my own question now -- after some helpful discussions and more reading. I CANNOT use IG to exchange currencies for actual use. This is because IG allows only CFD trading (contracts for difference), so I am not able to buy actual currency but just contracts betting on the future price of a certain currency. IG's DMA (Direct Market Access) is also built upon CFD so it is also not for actually currency trading. Thanks!
  7. Ranz, thanks for the suggestion! I just went to transferwise.com and got a quote. Assuming a transfer of USD 100K into GBP. The fee is 0.46%, which is indeed better than the 0.63% that I can get from my bank. Converting that into dollar amount, that means the transaction overhead is ~460 USD (*) This is okay. But I am just curious ... to help me understand more about forex trading. If (around the same time) on IG I saw the quote for GBP/USD for sell/buy was 1.24873/1.24888, does that mean if someone sells 100K USD and then immediately buys it back, she would get back USD 99,987.9892 ( 100000/1.24888 for the selling and then *1.24873 for the buying), so the overhead for the TWO transactions are ~12.01 USD. Can I say, then, that roughly the transaction cost for each transaction is half of that or about 6 USD? So the overhead seems to be much smaller. My other question -- also out of curiousity -- is this. It seems that I could do the first transaction (selling 100K USD and getting 99.989K GBP into my IG account) and then just tell IG that I am going to take out the GBP position in my account? Is this allowed? Wouldn't this let me accomplish the transaction with an overhead of ~6 GBP. (This is also assuming that I can make a free international bank transfer, which I think my overseas account may allow me to do that) -- HM (* I was using the exchange rate from xe.com at the same time as a reference to calculate the overhead. I think my calculation was correct, and it is consistent with the fee that transferwise.com shown on the website (0.46% vs 0.45%). The minor difference may be due to the flucation of exchange rate while I checked).
  8. Hi please pardon me if this question sounds too stupid. I am an IG user but only for my ISA. I have a need to exchange a large sum of USD into GBP (and transferring funds from overseas). I am doing this for an actual need -- for a property purchase. Can I do this in IG? What would be the typical overhead of doing so? I only know of another option, which is to buy GBP from my banks but their overheads seem to be way higher than the typical spreads that I can see in IG's quotes for forex. Thanks! -- HM
  9. Hi Please look at the following chart. It says that the lowest price for 11th Feb, 2020 is 179.18, which seems to be an error to me (the typical price range should be around 1700) I checked the prices against those from Yahoo! Finance, which is shown here. Yahoo! Finance reports that the lowest price is 1703.40 For both charts I am focusing on the data for 11th Feb, 2020 I have a few questions: 1. Why would there be such an error in IG.com? Can this be avoided and fixed? 2. Before the data is fixed, can I exclude that one day of data? Or, alternatively, can I change the scale of the verical axis so that the historical trend can still be visible? (Right now the trend is distorted because of thtat one erroneous data) 3. The other numbers are not totally identical - only the High Price are the same from the two sources (1742.60), the other numbers -- Open, Close, and Low are not at all the same. Why? 4. I also noticed that the volume number also differ -- IG.com reports 13,087,107 while Yahoo! reports 21.81M. (Perhaps IG.com is reporting in number of shares but Yahoo! is reporting in GBP)?
  10. Answering my own question here. The answer is yes. Now I have opened my "Share Dealing ISA" account and have started using both the mobile app and the web platform. Thanks!
  11. Hi I now know how to explain my second question. The price was quoted in GBp (not to be confused with GBP), which is pence (see Wiki entry on GBp). The dividend numbers were quoted in Pound, I believe. In this case, indeed the yields (with four dividend rounds) add up to about 6%
  12. In IG, is there a way that I can obtain historical dividend data for a certain stock/ETF? I have been researching on iShares UK Dividend UCITS ETF GBP (Dist) (IUKD.L) I could not find the info on IG but I could find it on Yahoo! Finance, which is here Speaking of that, I have some confusion with the numbers. I am a newbie and hope you don't mind me asking this question (on data presented on Yahoo! Finance) here. On that page, there seems to be four round of dividends in 2019. But the numbers seems to be too small. I think the yield for this ETF is 6%, so approximately the dividends should be around £48 in last year.
  13. Is there a way that I can link up my own IG account with my wife's IG ISA account so that I do not have to log in twice to manage both accounts?
  14. @CharlotteIG Thanks! I just created a Demo account. In which I could only find accounts for "CFD Trading" and "Spread Betting". I also just downloaded the mobile app and logged into my account and saw the same. Do you mean that (only) after I open an "Share Dealing ISA" account I will be able to see it in the mobile app? (as well as the web platform) It would be nice if the demo account includes also that so that there will be less confusion.
  15. @dmedin -- What is the name of the mobile app for the "Share Dealing" service? On Apple Store I could see only "IG: Spread Bets & CFD" (and "IG Academy"). Also, what I am actually interested in is an "Share Dealing ISA" account. Can I use an mobile app for that account? Thanks!
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