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IG questions

  • #1
  • First Post: Apr 5, 2024 4:28pm Apr 5, 2024 4:28pm
I just opened an IG account to try out trade explore on here. My account went under margin at close. I see they have a rule that if under margin for 24 hours they’ll close positions. Does anyone know if this applies to weekend? Also their fifo is different than my other broker oanda. With IG I have to close out the 1st trade regardless of size. With oanda if you have multiple trades of different sizes you can close them any any order.
ex nihilo
  • #2
  • Apr 5, 2024 4:37pm Apr 5, 2024 4:37pm
Quoting Oc6oph
I just opened an IG account to try out trade explore on here. My account went under margin at close. I see they have a rule that if under margin for 24 hours they’ll close positions. Does anyone know if this applies to weekend? Also their fifo is different than my other broker oanda. With IG I have to close out the 1st trade regardless of size. With oanda if you have multiple trades of different sizes you can close them any any order.
Depends on the percentge dd, usually in UK they wont close your positions till margin drops to around 60% ish
  • #3
  • Apr 5, 2024 4:40pm Apr 5, 2024 4:40pm
Quoting Oc6oph
I just opened an IG account to try out trade explore on here. My account went under margin at close. I see they have a rule that if under margin for 24 hours they’ll close positions. Does anyone know if this applies to weekend? Also their fifo is different than my other broker oanda. With IG I have to close out the 1st trade regardless of size. With oanda if you have multiple trades of different sizes you can close them any any order.
Must be different to the UK then as i can close any trade in any order as i use anywhere between 10 - 20 positions and then scale some out along the way in any order
  • #4
  • Apr 5, 2024 6:07pm Apr 5, 2024 6:07pm
Quoting Oc6oph
I just opened an IG account to try out trade explore on here. My account went under margin at close. I see they have a rule that if under margin for 24 hours they’ll close positions. Does anyone know if this applies to weekend? Also their fifo is different than my other broker oanda. With IG I have to close out the 1st trade regardless of size. With oanda if you have multiple trades of different sizes you can close them any any order.
You can thank Dodd-Frank.
  • #5
  • Apr 7, 2024 3:26am Apr 7, 2024 3:26am
I've tried IG a number of times over the years (high-regulated, good reputation, been around a long time) but each time I have ended up taking my money elsewhere.

They are just too restrictive for me, leverage is too low and better conditions only seem to be available to "professional" clients i.e. high net worth.

That's the way things are in the UK...
  • #6
  • Apr 7, 2024 3:51am Apr 7, 2024 3:51am
Quoting ChilledT
I've tried IG a number of times over the years (high-regulated, good reputation, been around a long time) but each time I have ended up taking my money elsewhere. They are just too restrictive for me, leverage is too low and better conditions only seem to be available to "professional" clients i.e. high net worth. That's the way things are in the UK...
They’re more restrictive than oanda my other broker. With IG you can’t close positions of different sizes on same pair in any order like oanda allows. And IG margin calls you if you’re under margined for 24 hours whereas oanda will margin call you on the 3rd day of being under margined.
ex nihilo
  • #7
  • Last Post: Oct 10, 2024 11:55am Oct 10, 2024 11:55am
IG got me for 17 pips past my stop loss
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ex nihilo
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