First off, I should probably have been more careful. I usually only use the ISA account but as I’m being forced to sell NIO I put a small amount in the CFD account so I could hold NIO elsewhere.
Anyway when browsing I was looking at a stock and assumed if you clicked buy you’d have the choice to pick a buy price limit etc like on the ISA account. I was browsing at “Boxlight” and pressed the buy button which with 1 click spent my whole CFD account on it.
Yes, this is entirely my fault I should have educated myself on the system better first.
However there is a ridiculous spread, so I’m nearly in margin call territory already, the price hasn’t moved and I’m already in the red about 40%. Why even offer these options, surely no one is intentionally buying on an instrument with a spread like this?