New margin requirements :-O

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  • This topic has 56 replies, 11 voices, and was last updated 5 years ago by avatarBard.
Viewing 15 posts - 31 through 45 (of 57 total)
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  • 07/30/2018 at 10:13 PM #77119
    verygrubby

    Sounds great!

    Give me your bank details & PIN, and I’ll transfer everything to you

     

    07/30/2018 at 10:29 PM #77121
    Vonasi

    Envelopes with cash work better. Tell me your address and I’ll send a man round.

    07/30/2018 at 10:33 PM #77122
    verygrubby

    It’s OK, I know where you live. I’m on my way…

    07/30/2018 at 10:36 PM #77123
    Vonasi

    I live on a boat so I’m not there any more.

    07/30/2018 at 10:39 PM #77124
    GraHal
    verygrubby wrote:

    Presumably many of the people on these forums who run dozens of strategies in demo will have to shut many of them down.

    You can easily make the balance on a Demo account something daft like 10 million or is it 100 million.

    I think this can be a source of problems later as folks get hooked on large lot trading / big risks?

    Looking back, I wished I’d kept my Demo balance to what I eventually traded Live!

     

    07/30/2018 at 10:47 PM #77125
    verygrubby

    How do I change the balance on my demo account? Sorry for the basic question –  I didn’t realise I could change it!

    07/30/2018 at 11:08 PM #77126
    Vonasi

    Screenshot_7-4

    1 user thanked author for this post.
    avatar verygrubby
    08/08/2018 at 5:49 PM #77796
    Bard

    IG Index just stuck two fingers up at the ridiculous margin increases due to the EMSA rules… Lol.

     

     

    08/08/2018 at 6:20 PM #77798
    Vonasi

     

    Bard wrote:

    IG Index just stuck two fingers up at the ridiculous margin increases due to the EMSA rules… Lol.

    That is the thing with rules – if you write a list of rules then the first thing anyone who is any good at their job does is ask ‘What’s not in the rules?’

    08/08/2018 at 6:23 PM #77800
    Vonasi

    Lots of info here:

    https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/market-details/what-are-knock-outs#margin

    Those who love a trailing stop will be disappointed but otherwise it all seems pretty straightforward. I wonder how long it will be before we can auto trade them via PRT?

    08/08/2018 at 6:26 PM #77801
    Vonasi

    Actually re-reading it trailing stops will still work – you just have an overall stop that decides your margin for the opened position and this margin never changes but you can sell at any time so a trailing stop will work.

    1 user thanked author for this post.
    avatar Bard
    08/08/2018 at 9:15 PM #77809
    Bard

    Hi Vonasi

    You can? I didn’t see that, I only see a profit limit box, where’s the trailing stop field?

    08/08/2018 at 9:20 PM #77810
    Vonasi
    Bard wrote:

    Hi Vonassi

    You can? I didn’t see that, I only see a profit limit box, where’s the trailing stop field?

    There isn’t one. I was considering more that when we can trade these KO’s via ProOrder that we can sell at a price that isn’t the stop that we first set as our margin stop and so can trail a separate sell price.

    1 user thanked author for this post.
    avatar Bard
    02/23/2019 at 5:14 PM #92134
    Juan Salas

    Hi everyone,

    Following up this topic, the only solution I found to avoid ESMA margin requirements has been to open a new IG account in Switzerland. It is legal and more simple than it seems, and very to keep the old margin requirements.

    Good luck,

    Juan

    1 user thanked author for this post.
    avatar GraHal
    02/23/2019 at 11:11 PM #92150
    Vonasi
    Juan Salas wrote:

    the only solution I found to avoid ESMA margin requirements has been to open a new IG account in Switzerland.

    Unfortunately if you are a UK resident then switching from tax free spread betting in GBP to tax paid CFD in various currencies eliminates an awful lot of the benefits. I enquired but found that it was better just to find more capital rather than pay more tax.

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