Does IG let you use unrealised profit as margin?

Just a quick one: If I have £1,000 in an account with IG INDEX and an open position that is +£1,000 (and a stop that locks that profit in) does anyone know if I can then ADD to my position as if I had a balance of £2,000?

I know some companies let you do this. It is a very, very useful attribute.

trader_dante said:

Just a quick one: If I have £1,000 in an account with IG INDEX and an open position that is +£1,000 (and a stop that locks that profit in) does anyone know if I can then ADD to my position as if I had a balance of £2,000?

I know some companies let you do this. It is a very, very useful attribute.

Click to expand...

Don't think so Tom, they might do if the stop is guaranteed but i doubt it.

As an aside they have just introduced trailing stops which is good news.

Is IG considered the best trading software to spread bet with out off them all?? im using cmc over the phone and find it extremely hard work putting a trase into play, after reading on hear about cmc , it look's like the best thing to do is find a decent trading platfrom with a decent company that will not and try and pull a fast one on you!! any recommendations , dealing online , uk stocks , day trades and some longer ones?

trader_dante said:

Just a quick one: If I have £1,000 in an account with IG INDEX and an open position that is +£1,000 (and a stop that locks that profit in) does anyone know if I can then ADD to my position as if I had a balance of £2,000?

I know some companies let you do this. It is a very, very useful attribute.

Click to expand...

I think probably not too - although I've never wanted to test it - the thought of being margined up that much..

Maybe it's worth spending a few ticks in this situation realising the profit and re-openning the position if you need the margin...

trader_dante said:

Just a quick one: If I have £1,000 in an account with IG INDEX and an open position that is +£1,000 (and a stop that locks that profit in) does anyone know if I can then ADD to my position as if I had a balance of £2,000?

I know some companies let you do this. It is a very, very useful attribute.

Click to expand...

If you set a stop, the margin requirements are reduced and you can add to the position but only up to your initial deposit prior to entering the trade. Even if the stop isn't guaranteed. So as the position goes into profit, you can add to it, then lock in more profit, add some more and so on.