Maximum Deposits

[Interceptor]

I've spotted one or two brokers who have a maximum deposit level within their terms and conditions. Indeed, at one very well known firm it's only 10k.
Are all SB's the same?

 

[UKtradergirl]

I've spotted one or two brokers who have a maximum deposit level within their terms and conditions. Indeed, at one very well known firm it's only 10k.
Are all SB's the same?

I think IG have a £10,000 limit. You are allowed to have more in the account, but only allowed to have up to £10,000 in total tied up in open trades.

I also think it may be possible to negotiate a rise on this with them- this is just for standard accounts?

Perhaps they would be very willing to accommodate you if you wanted to bet £1000 a point on the FTSE. There was that one footballer guy, can't remember his name, that bet with IG for something like £300,000 a point (and lost millions). So i'm sure they would accept it (the spread alone would have netted them £600,000!!). Definitely a case for dealer referral though- so don't expect fast trading.

 

[Interceptor]

Thanks for that.
Footballers and financial markets-never the twain!

 

[gfrost]

Was the "footballer Guy" Mike Ashley, here is the link, it mentions IG Index in the article.
Although I think the one UKTG is meaning was some time ago

Newcastle boss Mike Ashley loses £300million in bet on HBOS - mirror.co.uk

 

[UKtradergirl]

Was the "footballer Guy" Mike Ashley, here is the link, it mentions IG Index in the article.
Although I think the one UKTG is meaning was some time ago

Newcastle boss Mike Ashley loses £300million in bet on HBOS - mirror.co.uk

There was another one some time ago who lost £130 million. But this one is better- £300 million!!! Makes me feel good about the losses i sustained. I bet IG were excited when he placed that bet. £800,000 a point- can you imagine!


Just read the article again- it is the same guy! Crazy man.

 

[gfrost]

Yes UKTG, i was looking for that older one but couldn't find it, I thought that was something to do with Newcastle as well ,but I might be wrong. maybe someone else can find it.
Couldn't imagine doing £800 per point, let alone £800K

New avatar I see, are you gradually going to age on your avatar picture until you reach your current age ?

Graham

 

[UKtradergirl]

Yes UKTG, i was looking for that older one but couldn't find it, I thought that was something to do with Newcastle as well ,but I might be wrong. maybe someone else can find it.
Couldn't imagine doing £800 per point, let alone £800K

New avatar I see, are you gradually going to age on your avatar picture until you reach your current age ?

Graham

Its the same guy (i edited my last post after you read it i think). You would have thought he would give up. What a prime example of why we should cut our losses! Maybe next month he will post another multimillion pound loss.

Everybody- go trade with IG- they have plenty of funds so you don't need to worry about not having your winnings paid out . Seriously though, how could IG possible hedge such a huge sum as this? What if he had won?

I wish my avatar was me! Much better looking and way cuter than me i'm afraid. She is 7 months old and already a pro trader- much better than me. Has a tendancy to hold her finger down on the one's when trying to bet £1 a point though- resulting in potential errors matching the sum of the footballers. Luckily it comes back with an error saying i don't have enough funds- thank God- imagine if it placed the bet anyway!

 

[Interceptor]

IG seems to have imploded this morning.
You'd think that, after taking all that cash off Mike Ashley, they'd be able to afford some spare servers.

 

[UKtradergirl]

IG seems to have imploded this morning.
You'd think that, after taking all that cash off Mike Ashley, they'd be able to afford some spare servers.

Yeah i was just about to post a thread to ask if others are having problems?

I haven't tried placing any trades so don't know if it's working there or not, but the charts are doing funny things. My FTSE 100 chart on time frames below daily is printing like huge gaps.. or not at all.

 

[TomTom]

So traders can only have £10k on deposit ?
I think this represents the SB firm in question will only accept £10k per deposit transaction ?
This could have some thing to do with gamblers ware ?

 

[Interceptor]

Apparently the charting problem lies with FTSE and the Dax only.

 

[CFDplayer]

There was another one some time ago who lost £130 million. But this one is better- £300 million!!! Makes me feel good about the losses i sustained. I bet IG were excited when he placed that bet. £800,000 a point- can you imagine!


Just read the article again- it is the same guy! Crazy man.

I don't think anything goes wrong in his case. This guy has more than 1bn net asset and played in financial market for couples years with taking over a listed firm and IPO issues. This time, he just do the same but a 500m contract with SB firm by placing 10% deposite at beginning. When stock markets crashed, all existing shareholder or long position keeper were facing same discount of their portfolios including Mike. His 500m came to an end at 200m. And the reason why there is no stop loss i believe the total amount to him is not a big deal comparing with his own asset. More share investors loss more than him indeed. But when media need sell their stories, and account in SB words,then, it seems go to crazy.