Warning for IG Users

This afternoon I was stopped out incorrectly by IgIndex. When I checked the charts there was missing UKX data from 1458 till 1512 and I'd been stopped out.
When i called IG they told me the charts were for INFO ONLY and they did not use the same prices as the charts show, as they come from a 3rd party!!

I argued the case and said that if the charts were not indicative of the prices used by IG then you ‘d be selling every user up the Kyber, as what else would traders base their entry/exit signals on?? I find it amazing that a firm provides charts for us to base our decisions on, only to disregard them for their settlement!

Well, after the lady put me thru to a dealer they found that YES I had been incorrectly stopped out (my price was still some 25 points inside the live price!!) and they re-instated the trade.

This has seriously tarnished my view of IG. My advice would be CHECK ALL TRADES!

Grimweasel, my friend also had exactly the same problem as you today.

His position was closed even though he was a full 20 points from his stop. He rang them and the agreed to reinstate his position.

Very dodgy in my opinion. I think they must have caught a lot of people out today.

Does make one question the validity of previous stop losses. I find it starnge that as the market was rallying (dow), then a 'gap' appears in the charts for 10-15 mins. I wonder how many other people were 'stopped-out' and just accepted it??

grimweasel said:

Does make one question the validity of previous stop losses. I find it starnge that as the market was rallying (dow), then a 'gap' appears in the charts for 10-15 mins. I wonder how many other people were 'stopped-out' and just accepted it??

Click to expand...

Lots. The routine of overcharging, not only in this business, but by gas, electricity companies, banks and tax authorities, etc with the instructions that, if anyone complains "Give the money back at once, with apologies."

Split

Par for the course

grimweasel said:

Does make one question the validity of previous stop losses. I find it starnge that as the market was rallying (dow), then a 'gap' appears in the charts for 10-15 mins. I wonder how many other people were 'stopped-out' and just accepted it??

Click to expand...

All the above and more............

Charts just pack in (gaps in the data) on any buzy day, go real real slow = loads of customers will not trade and loads caught in trade and blind = phone up and close out at bad quoted prices by jittery punters who say close me out uppps you just told him which way to quote you etc etc etc always strong direction market or news out etc

Charts used to take out the router, never had one disconnect since I stopped useing charts/sb firms during day

How very strange

I would not even consider logging into my account during the day if Da account connected

Was told same = prices are indication only

They certainly are just an indication but of what

Tip if you use em wait for their spread to get past your entry level, make it 3 clear pts and see how you go if your on the wee ones for entry etc.(result wll be less whipped entries) The under 5 minute time frames are frashed about to do your nut in

If you start to nail your entries you will be slipped to for a couple of pts just for good measure.

TIP its a bit of a pain but if your in dont flap if your in the money

P&F manual chart 5 pt boxs for the ftse, and 10pts for the Dow will enable you to see where you are, provided price boxs are updating, in fact you will be amazed just how good they are regardless if you can be bothered :smart:

oh ye the price box is where you keep your eye when your going in and out not the price on the chartsThe chart often seperates or the chart laggs a bit at critical locations.

Critical locations = Pdh PdL Pwh PwL manual S&R levels and hr H&L and 15 min H&L I would use the wee ones as an approx location of price. I used to just imagiine the whole 3 min bar was the spread

All Sb firms the same IMO, that was my experience anyway with them.

sorry gone on one again

good trading all:clover:

Not a single rep pt

PinkPig said:

All the above and more............

Charts just pack in (gaps in the data) on any buzy day, go real real slow = loads of customers will not trade and loads caught in trade and blind = phone up and close out at bad quoted prices by jittery punters who say close me out uppps you just told him which way to quote you etc etc etc always strong direction market or news out etc

Charts used to take out the router, never had one disconnect since I stopped useing charts/sb firms during day

How very strange

I would not even consider logging into my account during the day if Da account connected

Was told same = prices are indication only

They certainly are just an indication but of what

Tip if you use em wait for their spread to get past your entry level, make it 3 clear pts and see how you go if your on the wee ones for entry etc.(result wll be less whipped entries) The under 5 minute time frames are frashed about to do your nut in

If you start to nail your entries you will be slipped to for a couple of pts just for good measure.

TIP its a bit of a pain but if your in dont flap if your in the money

P&F manual chart 5 pt boxs for the ftse, and 10pts for the Dow will enable you to see where you are, provided price boxs are updating, in fact you will be amazed just how good they are regardless if you can be bothered :smart:

oh ye the price box is where you keep your eye when your going in and out not the price on the chartsThe chart often seperates or the chart laggs a bit at critical locations.

Critical locations = Pdh PdL Pwh PwL manual S&R levels and hr H&L and 15 min H&L I would use the wee ones as an approx location of price. I used to just imagiine the whole 3 min bar was the spread

All Sb firms the same IMO, that was my experience anyway with them.

sorry gone on one again

good trading all:clover:

Click to expand...

Would of thought it was worth at least one pt = just for the 5 pt p&f no flap method

how to construct them here= free info or ask timsk on a good day

Marc Rivalland.com

obviously not