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kabuki

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Posts posted by kabuki

  1. None of my other Accounts come close in regards to details they require, anyway using an account my size to launder money, particularly as there as so few transfers in and out of the account (Maybe 5 small tranfers over 21/2yrs to and from the same funding a/c) would be laughable.

    As for saving requirements, I dont believe my Account has reached over 25% Margin 75% Cash for even intraday Trading so thats another red herring.

    Unless you guys can come up with another reason - that only leaves the culling of Accounts not deemed profitable to IG (In other words the Casino is throwing you out for wiining).

    That would make sense in light of the recent battering of CMC Markets stock when they missed Profit Targets.

    I have heard back from IG and expect them to eject my account and return my funds shortly.

    So good luck in your trading.

     

    PS I am a little sad to be departing because in many respects I have found the IG spreads and spread betting service to be among the best in the industry

     

  2. @greenscorpio1000but maybe the."client lifecycle analyst" is right here...What is he right about?

     

    @OfentseIG If you still need more information or clarity, please reach out to helpdesk.uk@ig.com 

    I Have reached out and reached out and reached out  for some information or any sort of clarity. Their is no response.

    If you dont want to do business close my account and send me my money.

    I will not send you 

    • Bank statement showing your salary deposits (require 3 most recent bank statements).
    • Payslip
    • Letter from your employer confirming employment details including salary.
    • Screenshot of your savings/investment in the form of a bank statement or holdings statement from another broker.

    And nor would anyone else in their right Mind

     

    • Like 1
  3. My Account is over 2 years old - I have completed over 1,000 trades and have made a reasonable profit- My Account has never been remotely close to getting a margin call.

    Maybe IG is upset with me as 76% of retail investor accounts lose money

    Yesterday 3rd April 2023 I received this.

    At IG we regularly complete account checks to ensure that our clients have the most appropriate trading account for their circumstances. To do this, there is certain information that we need to update in our system every so often. Your account has been flagged as an account that we need to update details on. Thus, could I please confirm the value of your earnings as well as liquid savings (for example, cash in bank account, physical shares)?

    For us to change your information, we would also require the following documents:

    • Bank statement showing your salary deposits (require 3 most recent bank statements).
    • Payslip
    • Letter from your employer confirming employment details including salary.
    • Screenshot of your savings/investment in the form of a bank statement or holdings statement from another broker.

    Until we have this information, I have temporarily put your account on Closings Only. This means open positions can be closed; however, you won’t be able to open positions.

     

    Once we receive the documents, we’ll be in touch with you to notify you of the outcome or if we require further supporting documents from you.

    We’d like to thank you in advance for your cooperation.

  4. By accident,I just came across a chart fee of $30 for Dec 2022,  For the Year as a whole I traded  multiple contracts of the SP500 over 700 times with £100s overnight fees, I presumed this was well within entitlement to free charts. I notice that your verbiage for chart costs seems to have changed and basically seems to say its now at your discretion. If this is correct, please let me know before the next billing date so I can take action with my account accordingly

  5. Thanks Arvin,

    I realise that is the Corporate Line.

    However it still makes no sense paying IG interest on a position whilst receiving no offsetting interest allowance on my larger balance.

    The reason for my query is not so much the current rules under which I trade with my eyes open -

    My concern is if interest rates take off - Overnight charges could be so usury as to make trading overnight a FOOLS mission (and of course leaving overfunded balances with IG earning no interest would make even less sense)

  6. The Percentage Spread is the spread divided by the price multiplied by 100

     

    EG                           FTSE 100                              1 divided by 6726    =     0.0001487 x 100 = 0.0147

    which is rounded to 0015

     

     

    • Thanks 1
  7. I was on the wrong side of this spread the last few days short 5 June -  Long 3 July and in and out of the spot trying to fight the trend.

    Friday  17 May near close of business  try to reduce the   exposure by buying back 1 of the June shorts.....the system closed out all 5 contracts and rolled them over to July.

    I am going to be so p***ed of if June price collapses.

    and maybe a little grateful if the June price goes up faster than July.

     

    Nevertheless the whole point of this exercise was to benefit from any last minute spread swing - put the spread on a few days early after reading all the documentation about complications surrounding expiry and rollovers.  It said nothing about partially closing a position.

    Finally 3 of the short June once rolled over should have been set against the Long position as I have net-off  on.

    So I  then got the privilege of paying the spread on an extra 6 contracts to close it out.

    Worse than backing a horse at SP, it doesn't run and you have to pay the tax twice!

    If you read this far thanks for hearing me out...tried to explain it to the Girlfiend...she said I am an idiot - I agreed - but reminded her that  I am a poorer idiot so she should get the drinks in.

    MORAL

    IF you DONT understand the SYSTEM works   DONT  try to BEAT it

     

     

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