Roger B. wrote:

I thought about using futures, but this seems to result in more favourable financing cost, but a 5%-10% reservation on each open position, forcing me to enlarge the account value.

Ha Roger,

Although the second part of your sentence would be correct, how is it that with an other type (CFD’s I suppose ?) you would have even less “reservation” ? I’d say that there is no difference ?
And like I stipulate in my post above, where would be that page which tells about this ? And if you have one, could it be the same “blah” I just talked about ? (as in : IG only advertise themselves with LOWER spread and such nut don’t offer the other type with higher spread).

Curious !
Peter

folks!

inspired by forum member “inverse” in other thread, I discovered that there is yet a quite valuable/reasonable way to avoid overnight financing cost without the need to exit and re-enter the positions every night and so without the coding effort and most important – without multiplication of the spread-costs related to exits & re-entering.

ONE CAN TRADE FUTURES-CFDs! 😀 offered by IG: for these contracts there are no overnight financing costs to be payed!

major disadvantage: spread is significantly higher, like 6 points during main trading hours for dax futures-CFD contract, while being 1.4 points for the normal CFD contract. that basically means that the higher spread “pays out” vs normal CFD if one keeps the futures-CFD position for more than one night. and there are some advantages related to trading futures-CFDs vs real futures: for futures-CFDs one can apply “guaranteed stops”, one has negative account protection as well.

not a bad alternative I would say… probably worth thinking about.

regards

justisan

hi, IG does not offer real futures, it offers futures-cfd, so it’s still cfd. the issue with your bill and the mistery part of it only you can figure out with IG’s help, of maybe other forum members can contribute in case somebody really trades futures-cfd and has faced same mistery costs like you. I do not trade them, so having no clue due to no real experience. anyway it’s clearly stated on their website that no overnight financing costs are being charged for futures-cfd, like those for “normal” cfd kept overnight.

the last question in your post I do not understand, so can’t answer.

hi, so you really want me to show you how to find futures-cfd on IB? you go to instrument selection, select e.g. indices, here select e.g. Germany 40 and then you can select either “Cash” (“Kassa” in german platform version) or “Futures”, see pictures attached.

“Cash” are those usual cash-index cfd, and “Futures” are those futures-cfd. as you can see they they, like real futures, have expiration date, and also different price level from the cash. and you have such futures-cfd just for several equity indices, some commodities and bonds. in total by far not so many compared to usual cfd.

cash-cfd is what I trade, and futures-cfd is what I don’t trade.

if that were really your questions and I delivered answers needed, then you can send to me some piece of finest Edam cheese and few matjes. if I still did not understand your question/s, then I am giving up 😀

so, was my post a dream?

and would it be my dream to trade those futures cfd? today I think – rather not, but it is an alternative worth thinking about.

cash-cfd-dax.png futures-cfd-dax.png

Haha !
I am considering the cheese just because I like you to have some well known cheese, however, I would also send “drop” with it and as a good care taker you would eat that too.
So you better think twice ? 🙂 🙂

Believe it or not, but it still took me 5 minutes to find what you showed. Point here is that I never (or hardly ever) use IG’s platform. I use PRT …
But after I yesterday for the xth time tried to find it within PRT without luck – and I looked in IG’s platform several times as well, I can now show you the problem :

Picture #1 : This clearly shows what you show too. But I never look for DAX in there, as I use Nasdaq …

Picture #2 :  This shows as clearly what I always find and see – all the same. Names are similarly built up as with DAX, but no Expiration Dates …

Picture#3 : The 100$ version, which I had on screen yesterday as well (for double-triple check because it was already the xth time I was looking for it) : Expiration Date “faked” (as in : does not exist for real – yes, at some stage I start to see ghosts).

So now – and I am doing this in ad-hoc fashion – knowing where to look because you showed :
Picture #4 : And there we are. 🙂 … 🙁

I must now assume that PRT messes up with that expiration date. And look what I started writing yesterday (but skip because it is OffTopic – and the picture I refer to is not shown here) :

I tried to get (M)GC running without success. It is as if everything in there is wrong. It is hard to begin explaining … and maybe I just don’t understand !!

All starts with the data, shown below. This is from V12 which is additionally confusing because of the auto-selection of the XXXX/Full version. That is wrong to begin with, *or* it is coincidentally at a threshold today (March 30), of which I have seen from financial futures that V12 is wacky on that. Anyway, with GC and MCG I can’t make anything of it, and this is because other things are/seem wrong as well.

In the screenshot below you can see there is actually no data (or at least insufficient). Go back to a formally older contract, there is data but then there is no historical data (no XXXX, but e.g. 0424 which you see here too but which should be 0624 in reality).

 

So at least there too PRT messes up (or seems to).

There’s more funny coincidences going on : So the other day when I spoke with IG support, the nice guy on the phone told me the value of that contract I was complaining about with the overnight costs. He claimed 35K … the same as I see in IB so I know what he is talking about. But I claimed a 20th part of that because I use  the EUR 1 contact …
euh …
Apparently he did not see that in my account. But he also did not KNOW where that huge amount of “costs” came from, so we both could only reason out that it had to be overnight costs. And instead of he telling that something had to be wrong, we said good bye and hung up.

So Yes, justisan, I really wanted you to show me and you greatly did.

So you never used those futures and I can’t either. Why ? because my account is in euros; I guess I would pay even more on interest if I would be long on those USD instruments. It would work for the European futures though. Or … I might apply a trick maybe nobody has done yet : open a 2nd “sponsored” IG account slipstreamed with one of my other IB accounts and have that account in USD; what would hold back is to have yet another account …

Thank you !!
Peter

image_2024-03-31_044509534.png image_2024-03-31_044901044.png image_2024-03-31_045222241.png image_2024-03-31_045537082.png

@PeterSt

I sent to you (or maybe not to you…) an email with the delivery adress for cheese and drop 😀

regards

justisan / Justinas