You’ve opened an account, added funds, and identified your first deal. Here’s a step-by-step guide to opening a position.
Finding your market
- Log in to the IG platform. Find the market you want by browsing the fly-out menu on the left, or by typing its name into the search box.
- Click the name of your chosen market to reveal its chart and deal ticket side by side
- You can switch between different settlements, such as spot and futures, by using the tabs above the chart
The deal ticket
- View live buy and sell prices and the spread in points. Click ‘buy’ if you think the market will rise in value, or ‘sell’ if you think it will fall.
- Choose the currency you’d like to deal in, and enter the size of your bet per point, taking note of the minimum bet size for the market.
- Add a stop or limit if you like, in percentage or in points.
- Review the margin required to open this position, together with your resulting net exposure in this market.
- Click the now-illuminated ‘place deal’ button.
You can also add more advanced options to the basic deal ticket, which you can find out more about on our deal ticket in detail page.
- If your position is opened successfully, it will appear in your notification feed, as well as in the ‘positions’ panel via the fly-out menu.
- Here you can see all the markets you are currently trading, including the size of the bet, opening level, latest market price, any stops or limits you’ve applied, and your running profit or loss for the deal.
- You can also add and edit stops and limits on existing positions, or remove them altogether. Keep in mind that you won’t be able to delete a guaranteed stop once you’ve applied it, or add one to an existing position later.
Closing the trade
There are a number of different points from which you can close a position in the IG Trading platform:
- Go to the positions panel in the fly-out and click the ‘close’ button on the right-hand side.
- The bet size and direction required to close your position automatically appear.
- Click ‘close’ again to confirm your decision.
- Select your open position on a chart. If you can’t see it, right-click and go to ‘Show’ > ‘Open positions’.
- Hit ‘close’.
- Confirm your decision by clicking ‘buy’.
- Go to the deal ticket on a market where you have an open position.
- Input the same bet size that you entered previously, but select the opposing direction. Your bet size will already be saved if you’ve previously changed your preferences in the ‘settings’ panel.
- At the bottom of the deal ticket, you’ll see ‘resulting positions: none’. Click on ‘place deal’ to close your position.
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