IG Index dispute - advice welcome!

This is a discussion on IG Index dispute - advice welcome! within the Spread Betting & CFDs forums, part of the Commercial category; Originally Posted by pit pony Why would you want to take an opposite position to what you want in the ...

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Old Mar 22, 2011, 12:27pm   #33
Joined Jul 2010
Re: IG Index dispute - advice welcome!

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Originally Posted by pit pony View Post
Why would you want to take an opposite position to what you want in the same contract, how you gonna make any money.??
Not all the time, just to hedge spikes and slippage if a market gaps.
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Old Mar 22, 2011, 12:40pm   #34
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Re: IG Index dispute - advice welcome!

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Originally Posted by pit pony View Post
Why would you want to take an opposite position to what you want in the same contract, how you gonna make any money.??
Is that a serious question?? Read the first post by author. The author wanted to close his position but could not do it because igindex was unavailable.
This is a Plan B in case you could not close your position at igindex.
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Old Mar 22, 2011, 1:16pm   #35
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Re: IG Index dispute - advice welcome!

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You could have a second account with a different spreadbetting company and take an opposite position, add more funds to igindex to make sure that they do not liquidate your position.
+1
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Old Mar 22, 2011, 1:28pm   #36
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Re: IG Index dispute - advice welcome!

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Originally Posted by cvs04 View Post
I can fully sympathise with you as I also had a position open on the Nikkai 225. However I did have a stop placed (not guaranteed I admit) but it sailed straight through that so having a stop wouldn't have done you any good at all. They since claim this was due to slippage in a fast moving market, I could understand a few points but I ended up almost £800 down when all said and done.

Much like the rest of the financial system today the regulators are in the pockets of the institutions so even when the fraud is blatant they end up with a very small fine to make it look like the FSA actually have some teeth.

Needless to say I have now emptied my account at IG. There is some good advice on here but the reality is this you won't get your money back and if anything they will rile you furthermore with their "what you gonna do about it attitude"!
disagree , at least with stops there is no way they will close his trade after 30 minutes ...
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Old Mar 22, 2011, 6:12pm   #37
Joined Mar 2009
Re: IG Index dispute - advice welcome!

IG is really the worst in terms of slippage and s****ing customers.
In volatile markets you can always operate with a guaranteed stop.
What annoys me is that they remove volatile stocks from dealing or don't offer guaranteed stops at volatile times.
Also, try always to trade with nearly 100% of your account balance margined, meaning to take out profits immediately.
In case you "owe" them money, because you were on 100% margin, I would just refuse to pay. Then see what happens.
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Old Mar 22, 2011, 8:14pm   #38
Joined Jan 2011
Re: IG Index dispute - advice welcome!

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Originally Posted by Yuppie13 View Post
IG is really the worst in terms of slippage and s****ing customers.
In volatile markets you can always operate with a guaranteed stop.
What annoys me is that they remove volatile stocks from dealing or don't offer guaranteed stops at volatile times.
Also, try always to trade with nearly 100% of your account balance margined, meaning to take out profits immediately.
In case you "owe" them money, because you were on 100% margin, I would just refuse to pay. Then see what happens.
I can only relate my experience, but in fairness to IG I don't think they're that bad generally. However, I'm only using them for pretty liquid underlying things like ES and NQ.
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Old Mar 22, 2011, 8:18pm   #39
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Re: IG Index dispute - advice welcome!

Quote:
Originally Posted by Yuppie13 View Post
IG is really the worst in terms of slippage and s****ing customers.
In volatile markets you can always operate with a guaranteed stop.
What annoys me is that they remove volatile stocks from dealing or don't offer guaranteed stops at volatile times.
Also, try always to trade with nearly 100% of your account balance margined, meaning to take out profits immediately.
In case you "owe" them money, because you were on 100% margin, I would just refuse to pay. Then see what happens.
On the contrary , SB speaking IG is the best ...
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Thanks! The following members like this post: Pazienza
Old Mar 23, 2011, 3:07am   #40
Joined Mar 2011
Re: IG Index dispute - advice welcome!

defender110 started this thread hello again, after my stern email threating I'm prepared to actually take action against IG a senior manager had attempted to call me to deal over the phone! I feel highly honoured, I missed the call but will reply later today. I will update you all with the result but I'm quite pleased i've got their attention!
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