IG Index Binary Price Rejects Today

Both Today and on Friday a large %age of my IG index binary trades were rejected. Has anyone experienced AN INCREASE in their binary rejects recently? What;s the deal? They used to complete about 95% of my trades pretty much instantly.

Having you been winning recently?

Which markets are you trading?

donaldduke said:

Having you been winning recently?

Which markets are you trading?

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I have been winning. I trade Indices.

Hi clem,
Most markets are closed today and on Friday, with thin trading else where.
You are lucky to get a quote and very risky to trade holiday periods

Camelot said:

Hi clem,
Most markets are closed today and on Friday, with thin trading else where.
You are lucky to get a quote and very risky to trade holiday periods

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High rejection rates are nothing to do with market holidays.

If you start to win, or even have the occasional big win, they mark your card and you will always be subject to high rejection rates. Close your account and trade binaries elsewhere before it costs you too much.

You are probably on manual acceptance/rejection.

They will want to manually check all your trades in case they have the price wrong.

You shouldnt be winning over a long period of time, but if you are they suspect that something might
be up. Having bets rejected will effect you psycologically.

Binaries with a bookie are a rigged game, you cant win in the long run. There may be periods
when your system works but the wide spreads will get you in the long run.

I'm clearly on manual acceptance/rejection. I've tried binexx but the size isn't there.. anywhere else I can trade binaries?

As an occasional Intra-day Trader thought I would add my comments.

I was winning consistently & heavily then they hit the brakes putting me on the dreaded manual acceptance. As others on these boards have noted the difference was huge. 20-30 secs delay in getting Trades accepted and lots of rejects which then made the intended position(s) worthless by the time they allowed me to trade.

So thinking outside the box I decided to toss them a few bones and deliberately lose a couple £K to lull them back into a false sense of security (crazy idea I know but I was/still am so far up on them it is only their money anyway). First I threw them a few £100's to wet their appetites and they took it hook line & sinker. Then when I was sure I was not on manual (tested the waters on a few small losing trades to test the response times etc) hit them again for some more large gains.

Obviously they put me back on manual again and since then I have hardly used them as not only am I subject to having all my trades examined under their traders microscopes but I also have a mysterious delay in their online trading instrument which introduces yet another delay of 10-30 secs in addition to the manual acceptance one!! Their IT support people are pure BS and claim everyone only gets a 2-3 sec delay which they also claim to be able to see on their screens. Yet on my same PC (a rocket powered mega expensive one with ultra fast broadband & all the software optimised to the max) when not subject to manual acceptance it is much quicker. I gave up trying to press them on this as they will not budge or offer any useful help.

Yesterday for instance I was watching the DJI and whenever I caught the start of the many changes this 10-30 sec delay kicked in before I could even see their prices change and by the time they let you see them it was not worth doing anymore. I have spoken directly to several of their Traders in the past and they just say it is due to the massive rush/congestion around these market shift events... Yet their never seems to be any problem having a losing trade accepted around these times!!

In addition to this you may or may not be aware that for the Hourly Binaries they close the market 1 min before the cut off time & yet they take the 1st tick AFTER the cut off time so in effect they are giving themselves yet another unfair advantage as you have 1 Min during which you cannot sell/buy yet the market can & will go against you sometimes. Check out the FTSE100 just before 10AM today for a recent example of that!!

The obvious question is why does anyone bother with them and the answer is that unless you have the required liquidity there are not really too many other options out there & they damn well know it. They are still a viable trading instrument but before you even begin to trade the odds are already 85/15 in their favour so take that into consideration before using them. I am surprised that no-one has complained about these practices to the FSA as it seems more than a little biased against the client.

The problem is, there's just nowhere else I can do +30 pounds per point.. IG's liquidity is just second to none. I think there's a huge opportunity for another dealer to seep in with binaries here.. how about deal4free, do they have any plans?

You can still do +30 PP with IG. Just be a lot more guarded and plan your exit & entry strategy's accordingly. The high rejections usually happen to me when a market spike is in progress.

Another method is to do 10x3 to avoid the manual process. So you quickly put on 3 trades with the bet spread evenly amongst them so they all come in under 30 PP. I have also done this with them on much larger sizes to get around their £100PP online limit otherwise you must call and speak to a trader.

I suspect no-one else @ this stage is willing to invest in the infrastructure & put up the equity to offer a similar service to IG. The most frustrating thing to me is that even if you are a consistent winner with them they are still raking in huge amounts of cash every single day as according to the traders I have spoken to most of their clients lose & only bet very small amounts anyway but as there are so many that is how they are doing really well.

They seem to not only want the cake but the crumbs & bakery etc etc.

donaldduke said:

Binaries with a bookie are a rigged game, you cant win in the long run.

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Are you certain, Donald?

donaldduke said:

There may be periods when your system works but the wide spreads will get you in the long run.

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How about all the straight intraday-up and intraday-down bets at BetOnMarkets, Donald? How can they "get you" with those if you have, say, a 65% success-rate with them over, say, a 40-minute or 50-minute period and make about 30 of those bets (at "evens") per week when your system's set-up appears, as some people do? What sort of period would you say counts as "the long run" for a system like that?

Just wondering what makes you so certain?

There are times when I do only 10 pp and it takes 10 seconds to approve without any spike in the underlying so doing doing 10X3 won't work for me. I guess I'm on their blacklist due to the fifty thousand pounds I made in '05.

Clement Attlee said:

There are times when I do only 10 pp and it takes 10 seconds to approve without any spike in the underlying so doing doing 10X3 won't work for me. I guess I'm on their blacklist due to the fifty thousand pounds I made in '05.

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Well I've done a lot more than that and yet I still keep on winning!!

Observe in detail the way their online trading instrument works then revisit your trading methods is all I am prepared to say.........