IG Index Removes Deposit Limit
March 15, 2010Andy No Comments »What was the total deposit limit?
The total deposit limit was an administrative tool that IG Index used to control the maximum deposit requirement that a trader could incur on his/her account. Previously, if you reached the total deposit limit on a Plus account you would not be able to open any new positions, even if there were sufficient funds in your account to cover the new deposits. By removing the total deposit limit we are increasing the flexibility of your account and giving you more control over your available funds and your existing and new positions.
How will my positions be affected?
This will have no impact on any open or new positions, and your deposit obligations remain exactly the same. The only difference is that now you will not be subject to an imposed total deposit limit.
Monitoring your deposit requirement
At all times, your account balance must be at least equal to the deposit required for your open positions, taking into account unrealised profits and losses. It is your responsibility to ensure that your account balance remains above the required level and we reserve the right to cut back or close any or all of your open positions or orders if your account balance ever falls below the required level. In this case, we make no commitment to contact you before closing your positions. Positions will be closed at the price prevailing at the time and, as such, you may suffer losses greater than the funds in your account.
Managing your account
As always, to cover potential adverse market movements and avoid being closed out of existing positions you can, at any point, add additional funds to your account or make use of risk management tools such as Stop Orders.
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