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HeadBeeGuy

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About HeadBeeGuy

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  1. Sorry I didn't find your posts originally after trying to search in the bar, but you're echoing my own experience there, Davy. It is definitely poor service, and I would say it's not unfair to call it deceitful practice. It's their most advertised feature. The absolutely rubbish FX rate means constant commission is a necessity, and with that is the issue you've mentioned. A structure for a flat fee to pay for short term investment/trading really would be great but is elusive here it seems, and instead we've been very much misled with the marketing.
  2. Aye. You have to pay a trade fee for the illusion of free tradesšŸ¤
  3. Hi Folks, The platform advertises that you need to place three or more trades in the previous month to avail of the free trading on US stocks (no $15 commission) for the subsequent month. However, even with that commission fee gone you're going to have to pay IG for the currency conversion each time. You're going back and forth between buying and selling, GBP to USD to GBP ...this will equate to a lot of money. So, you've realised the above and to avoid this really ridiculous and expensive merry-go-round you turn on multi-currency feature, right? In your head you think: "I want to exclusively trade US stocks, I've waited one month (you'd have rathered to just pay IG and not need to wait), made more than three trades on that currency merry-go-round, I am happy to pay the reasonable quarterly fee to IG from here on in and keep the account as USD while availing of their most advertised feature, the commission free trading on US stock market". The new month arrives and you can have a great time trading on the US stock market with your dollar that doesn't keep eating away at any trade profits with each buy and sell. However, the next month arrives and menacing commission fee is back! But you traded at least three times last month, what gives? Ah! But you used the multicurrency feature, and this means on the subsequent month you will not be eligible for commission free trading. You're back to square one. Your choice is to either pay IG the fee for every conversion in every trade or prevent this and keep the respective currency but also you must pay IG a commission. Anyone else experience this? I'm hoping I'm completely wrong, but contacting the helpdesk seems to confirm this ...
  4. Two things I would add, one being a very important addition, another just a great feature upgrade: - Have a currency breakdown that is easy to view. - You could be simultaneously holding USD and GBP whilst trading shares but it just gives a pound overall value. Yet, what happens with my dividends and account management fees? Are my US dividends paid with IG taking a conversion cut? Is there a second round of conversion cut to reinvest this dividend? If I have dollars, are they converted for account fees, thus making them higher? There's very poor clarity up front on the platform with currencey, it would make it a lot mor user friendly to tackle this and probably reduce customer service requests. - Have a y-axis volume indicator. On other platforms it is a beautifully handy addition that shows price points of large volume buying. Thanks Devs + Charlotte.
  5. So, it's much like a pending amount. Thanks for the clarification, very helpful!
  6. I've it too, it's very unusual. What could we 'owe'. It's a massive amount. Can anyone shed light on this? @CharlotteIG
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