How did i manage to buy 1000 shares of something g a 1.18 which i though would cost 1180 for £250 please can someone explain
I really hope youāre not using real moneyā¦
Youāre using a CFD account right? The accounts are leveraged so you only put up a fraction of the money upfront, the rest is put up by the broker so that you have money left over to enter more positions than you otherwise would be able to afford. If you click on āInstrument detailsā on the left hand side of the chart view youāll find the leverage details. With stocks all Iāve seen is 1:5 thus far so that means you only need to put a fifth of the money down.
I was using real money⦠what do i do
Switch to a demo account asap is my recommendation
Ok cheers⦠will i be billed for anything that ive previously done then?
Yes as the swap is applied at 22:00 so youāll pay that today but if the trade is positive then itās paid for itself already so you can close it out for a profit or break even. If itās losing and you still want out then check the āresultā column in the row belonging to the trade in order to see the damage (if your market is now closed then your sell order wonāt be effective until market open by which time the āresultā may change).
How are people managing to get CFD accounts. People must surely be lying when answering about their previous experience when opening the account.
Iām seeing more and more posts on here from people who clearly have never traded anything in their life yet are placing trades on CFDs.
Yes, quite scary.
If I remember correctly though I did fill out the survey thing with CFD stating I had near to zero experience with CFDās, and still got access to trade. Albeit with a good warning from Trading212, so big props to them for that.
Itās the clients money after all, if they canāt spend the time to learn the platform and instruments, they canāt moan when losses occur.
Newcomers must think we are talking about topiary when we discuss hedging lmao
Buddy jump from CFD to Invest/ISA in the app. Donāt touch CFDs for the next 1 year. Will save you a lot of money and stress.
Amazing that people donāt read the big warning messages when creating an account let alone the terms and conditions.
whats more amazing is that there are those who expect the platform to do everything for them as they donāt keep tabs on the market themselves and that they donāt possess the basic knowledge required to safely enter and exit the market.
Trading is not a get rich quick scheme and itās not for everyone. they shouldnāt expect to get compensation for their poor decisions