[Having trouble with CFD account]

Thanks for your reply,

I have tried Order ticket and US market ticker Amazon which is currently open.  See photo attached

But i am still having the same problem with the huge stop loss minimum and cannot change stop loss to Normal.

I figured that my account status is Limited- Account, hence this is why  i cant change stop loss setting?

How would i resolve this issue, please advise.

Thanks

[Having trouble with CFD account]

Hi all, 

This is my first time in an IG live CFD account. I am having trouble with changing my guaranteed stop loss to normal stop loss. 

I have used the demo CFD account for a few weeks and it could easily change it with no problem.

Another problem is that the guaranteed to stop is forcing me to have a huge gap (min displayed).  The share price is $2.13 and stop loss minimum is about $1.044. This is absurd!

I've attached a photo of the problem if someone could please help me. My account is Australia based. 

Thanks,

[CFD tax obligation]

6 hours ago, TrendFollower said:

@Mundoooo,

I do not know which country you are based in but from a UK perspective one of the main differences between using IG's UK Spread Betting account against using its UK CFD account is how they are both treated differently for tax purposes.

So Spread Betting is free from 'Capital Gains Tax (CGT)' and CFD requires you to pay Capital Gains Tax. However, as you do not own the actual asset when trading via CFD there is no stamp duty to pay. There is also no stamp duty for the Spread Betting either. One of the key aspects for a CFD account is that any losses can be offset against profits for tax purposes.

I hope the above helps. For my personal circumstances I prefer and favour Spread Betting to CFD but for some I appreciate CFD may be better for their situation. 

Thanks for your reply, 

I am based in Australia. I have a CFD account but uses it for spread betting. 

I am still in the learning process and using a demo account. Im not 100% sure of IG spread betting is tax-free in Australia like in the UK. 

 

[CFD tax obligation]

Hi all,

I was told by someone that any profit made through CFD trading will not be taxed as long as they are not withdrawn from the trading account to a personal bank account. If this is the case, i can just withdraw what is needed in small amount and only get tax by the withdrawn amount, is this true? 

Or do you have to report all CFD profits to ATO.

If that is the case, does IG statement for tax refund purposes show withdrawn amount and capital gain/profit made for the year?

Thanks!