New trader please help

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 you’re not using real money…

You’re 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 ‘Instrument details’ on the left hand side of the chart view you’ll find the leverage details. With stocks all I’ve 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 you’ll pay that today but if the trade is positive then it’s paid for itself already so you can close it out for a profit or break even. If it’s losing and you still want out then check the ‘result’ column in the row belonging to the trade in order to see the damage (if your market is now closed then your sell order won’t be effective until market open by which time the ‘result’ 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.

I’m seeing more and more posts on here from people who clearly have never traded anything in their life yet are placing trades on CFDs.

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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 CFD’s, and still got access to trade. Albeit with a good warning from Trading212, so big props to them for that.

It’s the clients money after all, if they can’t spend the time to learn the platform and instruments, they can’t moan when losses occur.

Newcomers must think we are talking about topiary when we discuss hedging lmao :smiley:

Buddy jump from CFD to Invest/ISA in the app. Don’t touch CFDs for the next 1 year. Will save you a lot of money and stress.

Amazing that people don’t read the big warning messages when creating an account let alone the terms and conditions.

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whats more amazing is that there are those who expect the platform to do everything for them as they don’t keep tabs on the market themselves and that they don’t possess the basic knowledge required to safely enter and exit the market.

Trading is not a get rich quick scheme and it’s not for everyone. they shouldn’t expect to get compensation for their poor decisions :sweat:

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