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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
CFD accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd and share dealing and stocks and shares ISA accounts provided by IG Trading and Investments Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957), IG Index Ltd (a company registered in England and Wales under number 01190902) and IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Index Ltd (Register number 114059) and IG Trading and Investments Ltd (Register number 944492) are authorised and regulated by the Financial Conduct Authority.
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Which account would work best?
in New to IG Community
Posted
Good morning/afternoon/evening all,
Hope you are well!
I am looking to start day trading with a scalping method and I have been going round in circles trying to decide which account would work best for me. Id like to trade mainly in US stocks however I dont want the risk of losing more money that I put in with CFD's and spreadbetting. Therefore I have been looking at opening a share dealing account, would this be suitable for the type of trading strategy im looking at?
I have the following questions:
1-Can I use the web based desktop IG platform for share dealing / scalping?
2- Can I use live data?
3- With the Sharedealing commissions, after 1 month US stocks become commission free to trade, does this get applied to the account automatically?
4- Is there a minimum deposit for opening a share dealing account? (I see theres a minumum of GBP 1,000 to be able to use L2 but I wouldnt be starting with this amount to begin with).
5- Just to confirm, the PDT rule doesnt apply with IG and I would be able to immediately reinvest funds after the sale of shares
Thanks for your help!