sheepier

Also does anyone know if an existing order will get cancelled (when I'm asleep) if the market price gets outside the 20% range? Because that will almost certainly happen many times during a trading day in volatile markets.

Yes this! I missed several important trades that should have happened when I'm in bed at the other side of the world. This is insane. I'm moving out of IG solely for this reason. Unfortunately it has taken a week so far to transfer my positions to another broker, and in the mean time I still can't place orders without staying awake all night watching the prices. Absolutely unnecessary. Most other brokers have "profit taker" and "loss stop" which are very basic features. So you can even set your sell price (e.g. at 10x the current price) BEFORE you even place your order to buy them. With IG, here I am, staying awake all night just watching the prices just so I can place the order. I'm tempted to write a program to do this... but then I'm already transferring out. Hopefully it happens soon because I'm already losing a lot of sleep

I have an Australian account. I deposited USD cash and I can see the amount stays in USD in my cash account. Then I bought USD shares. During this transaction, 2 currency conversions occurred: 1. convert the share price from USD -> AUD (at 0.7% fee) 2. convert my cash from USD -> AUD to cover the converted AUD price above (again another 0.7% fee). So as a result, I ended up paying conversion fees twice (1.4%) when none should have occurred since it's in a single currency. There's no transparency when I made the purchase that this was going to happen. Can anyone please explain why this happened, and what should I do to avoid these conversion fees within the same currency (as oxymoron as it sounds)? Thanks.