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IG - Trade descriptions Act ??

This is a discussion on IG - Trade descriptions Act ?? within the Spread Betting forums, part of the Platforms category; Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from ...

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Old Jul 2, 2009, 11:14am   #1
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IG - Trade descriptions Act ??
Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.
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Old Jul 2, 2009, 11:20am   #2
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Most of the time their spreads will be 2 & 3 as before but occasionally they come in to 1 & 2 as advertised so you can't take these lower spreads as a given. If you want these spreads you will get them on DD or 1.7 & 2 on ODL and you'll find these spreads are constant during European hours.

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Originally Posted by hornet99 View Post
Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.
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Old Jul 2, 2009, 12:04pm   #3
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Quote:
Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.
They allegedly did have a 1 pip spread on EURUSD and 2 pips on GBPUSD for about 30 seconds a week ago on Wednesday at 2.30am in the morning.


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Old Jul 2, 2009, 1:51pm   #4
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It does sometimes go to 1 on Eurusd but only for maybe 30 seconds to a minute.

Usdjpy sometimes goes to 1 as well
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Old Jul 2, 2009, 4:29pm   #5
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I have seen the spread go to 1 pip and i have traded once when the spread was that wide.

Still 2 pips on EUR/USD is still great, no commisions and tax free profits.
AUD/USD is now 2 pips as well during liquid hours.
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Old Jul 2, 2009, 5:30pm   #6
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What's to stop them advertising 'spreads from 0 pips', then letting it hit zero for a millisecond or so per week?
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Old Jul 2, 2009, 10:54pm   #7
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Quote:
Originally Posted by hornet99 View Post
Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.
It is all false advertising and they get away with it because of the word 'from' 1 pip. Doesn't GFT advertise in a similar fashion?

Anyway, from my experience IG has the widest spread among the spreadbet companies. How can you justify 7-8 pips spread on oil for example? Daylight robbery in my view !
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Old Jul 3, 2009, 6:51am   #8
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Anyway, from my experience IG has the widest spread among the spreadbet companies.
That is a bit too generalised in my view as they have quite tight spreads on many instruments but as you say not on oil in which case don't use them to trade oil.


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Thanks! The post above is recommended by: foredog
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