IG Index: New custom binary bets

The problem is clear with no touch and I'm not sure whether it's the case with other sorts. Maybe it is because I tried with other sorts but I forget which one exactly. And I live in a different time zone ( +8 ) and place bets with the largest payout/stake ratio and I don't know whether it has something to do with the system.

I tried a Custom Bet yesterday and to be honest I prefer Binaries.

Yes, Custom Bets seem to be a rip-off compared to binaries at the moment.

As IG dont display the 'closing out early' odds, they only show the running P/L, they can pretty much reduce the running P/L by say 20 or even 50%, and they seem to be doing this.

With normal binaries the closing out early odds are always on display as well as the P&L. Normal binaries are always a two way market and you always know what your closing odds are if you want to get out early.

Ofcouse, if you hold a custom bet till expiry you get the odds you opened with, just like regular binaries.

surely you can just do an exactly opposite closing bet to close the thing out?

yes u can if u use predefined betting like regular binaries or fixed odds , but with custom bets u cant ...

Not all Cutom Bet types have equivalent opposite bets. There is a 'close in range' bet type, but there is no 'out of range' bet type, which would be the opposite.

And most bets have time limits for entry, so you cant do an opposite bet (or even the same bet, at different odds obviously) in the last 30 minutes even if an opposite bet is available.

Still these new Customs Bets provide lots of oppurtunites that regular binaries dont.. even if IG are stacking more of the odds in their favour.

Just be prepared to pay an even larger premium than normal binaries to get out early.

"Pro" binary "traders"?

Hi everyone. I'm completely new to spread betting and have only just signed up to IG index last week. As a newbie with 0.1 point positions, I'm working with P/L in the range of only a few pounds on regular spread betting. On custom bets however, I've made a profit of £500 in the last few days since it started. Works out about £150/hour of time spent which I'm obviously happy with (especially as a newbie).

The Wall Street 2 minute fast bets seem to work as long as you are disciplined. I set myself a target to double my initial deposit and to call it a day if I lose half of it. Just wait till you think the price direction turns the other way and make a bet (higher/lower). 4 times out of 5 I've been correct, so hopefully soon I will feel comfortable with upping my stake as now I'm just playing with winnings.

Word of warning for those using small stakes (like me). The default stake is £100 and occasionally the stake jumps back to £100 (even though you selected e.g. £10) and then when you bet you realise you've just bet 10x what you were willing to stake! Happened twice to me but fortunately both times I better in the right direction!