Hey All - new here, hope you are well. I was hoping someone could help with a question I have please..
I am from the UK and only traded US stocks on IG. I noticed that the actual profits I get from selling my shares are 50%+ less than what IG quotes just prior selling underneath all my positions. I managed to screenshot everything when I sold out all my positions on 30 Nov.
I understand there are currency charges and trade commissions, and of course trade depends on the exchange rate. However, I just can't get my head around how this is happening. Would appreciate if people could share their views and expertise please.
(1) Profit information quoted PRIOR to selling the shares on 30 Nov on IG - £1,094.96
(2) Based on the screenshot info above, decision was made to sell whole portfolio BUT total profits received post sale were only - £635, ALMOST 60% less
I would like to point out as well that the sale prices I got were mostly higher than on the first screenshot, yet profits received were still so much smaller.
Even JUST using Lululemon as an example here, this is just ridiculous - pre-sale profit was $288.90 USD on first screenshot (say £200 being generous with the exchange rate), and I just cannot fathom how it ended up being only £58.80 post sale, surely the currency rate, fees and commissions don't amount to the £100+ void here?
Thank you for your help in advance.