jabaty

Smoke and mirrors to increase charges and profits. I remember the days when a spread bet accounts had no charges, interest or anything, until brokers got greedy.

This really sounds like an excuse to increase charges behind a cloak of split amounts! Your answer does not explain how, over months and months of trading: If I've had a long position over night, I would get a payment of interest. And if I've had a short position over night, I would have interest deducted. But now it appears inconsistent, I never now know if you'll deduct or credit interest on whatever position I have.

Dealing mainly with USOIL on my spread bet account, interest payment/deductions were very simple, deduction for sell positions and payment for buy positions lasting into the next day. Why am I now seeing changes in interest payment/deductions and now I’m seeing a daily ‘Admin’ charge on positions? You are making it very difficult to trade, ‘taking’ away profits when you already make on spread. Having been with IG for a good number of years, I’m now searching for another broker.