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Online Share Trading

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Ideal cfd's

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divz
Super Contributor
Anybody here trade on Ideal? and opened a foreign account? i have some questions.Thanks
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15 REPLIES 15
Ninja
Super Contributor
Yes, I have traded both on the local and international Ideal accounts and now trade through IGindex London.
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divz
Super Contributor
Hi Ninja i have just started using ideal for the purpose of trading the indexes. When i registerd you could still get the FTSE and the DOW indexes (among othe world indexes) on Ideal but apparently very recently the Reserve bank brought in new legislation that you cannot trade foreign indexes unless you have a foreign account.According to Ideal its quite easy for them all i have to do is send them a tax clearance cert and a mail instructing them to open the london account - are there any pitfalls costs i should be aware of? Thanks
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SimonPB
Valued Contributor
FWIW, it is not new legislation .. ideal and by proxy their clients where just breaking the law for the past couple of years ..
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Ninja
Super Contributor
divz, if you are looking at this route dont waste your time with Ideal, their parent organisation igindex.com is the one to go for. Just send them a passport copy and a utility bill and they will open an account. Get tax clearance and transfer funds on your credit card. Withdrawl of funds are deposited straight back into your credit card within 48 hours. You can trade anything in the world and i mean literally anything. Their support and systems are mindblowing....you get intra day technical analysis updates and software that alerts you you to forming and formed intra day chart patterns. Trading the euro/dollar is only 1 pip in and 1 pip out, the dow the same. Hope this helps.
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divz
Super Contributor
Thanks Ninja that sounds great i will contact Ig.
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Not applicable
Yes Divs ... Simon is right, but to save time Ideal can do it for you as well they have all your Documents with them, Phone them and ask to have a FC Account opened, had mine within three days
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divz
Super Contributor
Thanks Hennie - Is there any significant difference between IG and Ideal that would make IG more worthwhile. Ideal actually looks perfect for my needs i just want to be able to see the other indexes which i would like to use as leading indexes (Dow and Ftse) to trade the the top 40 (although i would prefer to trade the ALSI which i assume you can do on IG)
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SimonPB
Valued Contributor
you can't trade te top40, ou trade the ALSI futures, either directly or via proxies ..
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Not applicable
yes Divs ... i use them to trade the FTSE and there charts for alsi but trading platform for ALSI ... DWT nothing better out there. Spread on Ideal to big
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SimonPB
Valued Contributor
so they shading the ALSI price ??
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Not applicable
Don't know ... use DWT ... Use there charts though
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janne
Frequent Contributor
Ninja, do IGindex charge for software, market data or account? What is typical spread on shares? Pls give me yr email or mail me at [email protected], thanx.
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divz
Super Contributor
Thanks Hennie and Ninja. Must say Ig has amazing service I applied on line. I received an email within about 5 minutes requesting a notarised utility bill and passport. I received a call 30 minutes later to follow up and welcome me and said i could email the documents requested to them .. no snail mail necessary.
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divz
Super Contributor
Also checked out DWT looks like exactly what i wanted. I see Chartist is resident DWT trading guru.
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Ninja
Super Contributor
divz , IG is free with the best live charting package included with deal thru charts facility if you trade twice monthly with them, otherwise $50 monthly for advanced charts. I don't trade the shares...if you are trading shares I would use OST. Indexes, currencies, commodoties are all around the 1 to 2 pip in and out mark.....very very cheap. Plenty of data, resources and technical analysis for free. The range of markets really is mind blowing and leaves Ideal in the dark.....if you fancy trading something as bizarre as pork bellies, IG will have a spread for you.
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