One the biggest benefits of CFDs are their flexibility. Opening a CFD position in shares, forex, commodities or indices is a very similar process. Find out how to do so on the IG platform below.
Find your trade
- Log onto the IG platform, go to the ‘finder’ box on the top left, and type in the name of the market you want to trade. Then click the market when it appears below.
- You’ll be presented with a list of different contracts. Click the one that you’d like to trade, and a deal ticket will open.
Complete the deal ticket
- First of all, you’ll need to enter the size of your trade. As you change the size of your trade, the margin requirement at the bottom of the ticket will change as well. This is the amount you’ll need to open the trade.
- If you want, you can also add a stop loss using the ‘stop’ box.
- Once you’ve entered your size, the buy and sell boxes will become illuminated. If you’d like to go long on your market, you can click ‘buy’. If you want to go short, click ‘sell’.
Monitor and close your position
- Once your trade is confirmed, your position will appear in the ‘open positions’ panel. This is where details on all your open positions are listed, including live profit or loss.
- Click on a position to amend stops or limits on live trades.
- You can also close your position from here, by clicking the highlighted box with the opposite action you took to open the trade. So on a ‘buy’ trade, the ‘sell’ box will be illuminated.
- Once your trade is closed, any profit or loss will be updated on your account and the position will be removed from the open positions panel.