IG Index Thread

fxwinner22

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Ive had a look around the site and can't find a thread on ig index so i thought I would start one.

i would like to hear of peoples experiences of ig index - both good and bad.

to test out the site ive opened an account with 1k and im playing my strat - so far so good my entries have triggered flawlessly.

some of the subjects i would like covered are:

at a certain account size / bet size does ig start treating you differently?

if so how?

do they suffer from much slippage?

that will do to start with, im sure more will come as we go along.
 
never had any problems with IG, they dont always offer the best prices but they do cover a lot of market and theres always a guarenteed stop option which is good for beginners.
 
thanks for joining in matey.

Im no beginner and wont be using the guaranteed stop provision as i want the smaller spreads.

If i move my account over there i will initially be playing around £50 per pip on forex but will quite soon be on £200 - £300 a pip. at those levels slippage gets important as does the fact that i want to make sure my orders are executed.

this is the sort of area i'd like this thread to cover first

also want to know from good consistent winners using ig index as to wether there is any bias towards you.

please bullsh**ers dont reply, i win consistently and have found a possible problem with my current broker (who iwill not mention) because of this. i need to hear from someone who consistently increases their account by 20% - 50% per month or better and if they have had any problems.
 
At that size I wouldn't (and don't) spread bet.... Your stacking the odds against you. Tax free or not.

Chris
 
I use IG for all except forex. Positives for equities are reasonable spreads and as far as I can tell unparalleled coverage of small caps. I do a lot of smaller stuff and need someone who covers more than the FTSE350. Very happy with them on equities, and I've had no issues with them despite me being a 'winner' with them.

However, I was not impressed by their forex. Spreads are okay, but you get a lot of slippage in a fast moving market, primarily because if between you clicking a price and it getting filled the price has moved, then it takes you to a new screen saying 'sorry but...', and by the time you get back to the trade screen you've missed out. Much prefer CMC for forex - they're doing 2pt EUR/USD spreads now, BTW.
 
no, no-one has ever closed any of my accounts .... yet,

just a bit nervous after some recent comments from my broker on the phone is all.

Chrisw, ive spreadbet for many years now with several brokers and also operate some 'proper' fx accounts in the states - you've no more odds against you on sb as with any fx clearing house.

on slippage i would expect some with instant execution, however what im looking for is someone that uses ig index with stop entry orders, thats the way i operate. In my opinion you should get better more consistant fills with stop entry orders than 'button click' trades and i want to know if that's true with ig.
 
Fair enough, but my point was not that you get slippage, but that their platform exacerbates the problem, which is not the case with CMC. I don't use stop entries so can't help you there.
 
ok, point taken and thanks :)

I had an account with cmc ... for 3 months and closed it

they dont slip your entry, they just slip your dealing ticket 30% of the time just after you've clicked it.

thats why they can say the price you see is the price you get - what they dont say is that the price you see will change a split second after you click the button.

at the time i was scalping and it was important. probarbly wouldnt be important now but i hate the platform and it doesnt have the kind of order tickets i need.

keep em coming ig users
 
why dont you trade futures then, This is what I do great for scalping, get an offshore account.
 
yes, looked into that too, but im not scalping anymore anyways

thanks for contributing. :)
 
I was reading a review of IG here and noted the following criticisms:

Larger minimum bet than the others

and.........

Not Able to Move Spreads to Protect Profits

Anybody know what the minimum bet size is?

The second statement is confusing. Could they be referring to Stop Loss's? If so, it would certainly rule them out as a possibility for me.
 
Vorbis said:
The second statement is confusing. Could they be referring to Stop Loss's? If so, it would certainly rule them out as a possibility for me.


Guessing they are referring to lack of trailing stops - of course you can set outright stops (and limits)
 
min bet is £1 a pip.
easy to move stops but no trailing one s (know a spreadbet that does?)
 
fxwinner22 said:
If i move my account over there i will initially be playing around £50 per pip on forex but will quite soon be on £200 - £300 a pip. at those levels slippage gets important as does the fact that i want to make sure my orders are executed.

Hi FX, thought I'd give you my penny's worth... I have never had any trouble with fills from Fins and although my stake size is not as large as yours I have been making some good money, which I believe is often a prerequisite for many SB companies making your life hard :cool:
Good luck!
 
For anyone starting out with IG, I would advise you to check your statements very carefully. They have made quite a few errors on my account. One bet of mine was stopped out at around $10, even though the minimum price for the day hadn't been below $11. They could offer no explanation of what happened. I'm actually in the process of moving to another company as the IG spreads on US stocks are now amongst the most uncompetitive around.
 
Le Roux quits IG Group to pursue hobbies

Slightly OT from the main thrust of this thread, but given it's IG related, thought some might be interested...

Financial Times, 27 May 2006

Nat le Roux is stepping down as chief executive of IG Group, the company that owns IG Index, the spread betting company.

Mr le Roux, 49, whohas been at IG Group for more than 14 years, saidhe would probably take a year off and pursue hishobbies, which include archaeology.

He is a trustee of the RollRight Stones, just north of Chipping Norton in Oxfordshire, a mystical ancientsite of standing stones that are reputedly under a witch's spell.

Mr le Roux's move overshadowed yesterday's pre-close trading update for the year to May 31, which showed strong trading at the group, thanks in part to its contracts-for-difference (CFD) business.

Mr le Roux, who will give up his responsibilities later this year, replaced Stuart Wheeler, the founder and Tory party donor, as chief executive in 2002.

"My plans are not really formed at the moment," he said. "I certainly don't see myself going on to become the chief executive of any similar business."

He will be succeeded by Tim Howkins, who has been finance director for the past seven years, and was also part of the management buy-out team.

Mr le Roux made an estimated Pounds 7m-Pounds 8m from the reflotation.

"During Nat le Roux's four years as chief executive, IG Group's profits have grown at a compound annual rate of more than 35 per cent," said Jonathan Davie, chairman of IG.

"Tim Howkins has played a major part in the strategic planning and management of the company over this period and is ideally qualified to take the business forward," he added.

IG shares have risen nearly 90 per cent since the group refloated on the stock market in April 2005. They closed down 6 1/2p at 224 3/4p yesterday.

IG said Mr le Roux would remain on theboard as non-executivedeputy chairman and would continue to work as aconsultant to the groupfor, on average, one day a week.

"We know Mr Howkinsto be extremely capableand are therefore very comfortable with him moving into this new role, a move that we would expect tobe completed withoutany disruption to the business," said Justin Bates, an analyst at Numis Securities. He has an adjusted pre-tax profit forecast of Pounds 45.5mfor IG.

IG estimated that itwould report revenue in excess of Pounds 85m, up 37 per cent on the same perioda year ago, while earnings before interest, tax, deprecà -iation and amortisation would rise 42 per cent to Pounds 50m.

IG said that its contracts-for-difference business, which allows investors to bet on derivative instruments, was likely to report growth of about 60 per cent in the year.

It also said that the number of clients it recruited rose by 50 per cent while its sports division would report revenue growth of approximately 30 per cent.
 
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