IG Index - getting greedier and greedier...

[Paul-B]

the great spreadbetting myth continues...

for the vast majority of bets, if the "client" wins the SB company loses, and vice versa, and since at least 90% of SB "clients" lose, the vast majority of SB profits arises from SB companies transferring the proceeds of a client's account into their own account (the fact that most "clients" would not succeed in a real trading environment either only adds to the illusion).

Thus, for the vast majority of "clients" the SB company has every interest to employ all the tricks in their book to accelerate the losing process. What it does depend on of course is the moving parade of new "clients" opening fresh accounts sufficiently often to maintain margins. The recent move by IG Index to charge for poor quality charts suggests that their margins are tightening, and thus they have to squeeze even more out of existing clients....

Whilst I don't have the experience to argue in any depth I'd be interested as to your source of "at least 90% of SB "clients" lose". Where did this figure come from?

I'm not trolling, but since you used the words "the great spreadbetting myth" I'd like to know why your 90% figure might not also be a myth.

 

[tar]

the great spreadbetting myth continues...

for the vast majority of bets, if the "client" wins the SB company loses, and vice versa, and since at least 90% of SB "clients" lose, the vast majority of SB profits arises from SB companies transferring the proceeds of a client's account into their own account (the fact that most "clients" would not succeed in a real trading environment either only adds to the illusion).

Thus, for the vast majority of "clients" the SB company has every interest to employ all the tricks in their book to accelerate the losing process. What it does depend on of course is the moving parade of new "clients" opening fresh accounts sufficiently often to maintain margins. The recent move by IG Index to charge for poor quality charts suggests that their margins are tightening, and thus they have to squeeze even more out of existing clients....

I dont understand , if IG's charts r poor , y u use them and y u r upset about the charges ?

 

[Pippppin]

Whilst I don't have the experience to argue in any depth I'd be interested as to your source of "at least 90% of SB "clients" lose". Where did this figure come from?

I'm not trolling, but since you used the words "the great spreadbetting myth" I'd like to know why your 90% figure might not also be a myth.

Read my thread earlier this year "where are all the spreadbetting millionaires?" To quote one contributor, Anley (I hope he/she does not mind) re: at least 90% of spreadbetters lose

I quote

"Actually it's 100% substantiated, but I admit you won't find any official reports published.

I was a broker for over 10 years in margined products, and yes I would say 98% of our clients, including some very large ones, never made a bean overall, although many did have good runs. And we had about 3000 clients come through our door over the same period.

One of my best friends, ie someone I trust states the same thing and he is a long time executive at one of the spread betters.

For anyone to think that the figure is higher than 5% then you're just the kind of client that's going to be welcomed with a big flashy smile by the brokers ."

Only one person's view I admit, but all the implicit evidence suggests AT LEAST 90% lose

 

[Pippppin]

I dont understand , if IG's charts r poor , y u use them and y u r upset about the charges ?

I don't use IG Index, or their poor quality charts, any longer. So I am not upset about the charges. I am merely pointing out that IG are squeezing their remaining customers, probably due to falling margins

 

[Hotch]

That's because 90% of spreadbetters are ****ing stupid.

Spreadbetting might have a slightly higher rate of losers, but that's because it's easier to get into, and so there are more people in it who aren't as serious as those trading contracts or whatever.

spreabetting millionaries - Google Search

Look, millionaires! Stop complaining because you're not one of them

I would think that the vast majority of positions opened are hedged, purely by virtue or somebody else opening a position in the opposite direction, the spread betting firm takes the spread twice, and doesn't need to enter the market at all.

And as the vast majority of spread betters are retarded, they don't need to alter the market. Go find a 9/11 forum for your conspiracy theories.

 

[bennie83]

with regards to IG charging £30 per month for charts, I believe this is only on their pro realtime charts where u can trade direct from the chart. As far as I know their advanced charts and quick charts remain free regardless of number of trades per month.

 

[SvenFoster]

Trading off the chart and managing SL and Tps is one of the main reasons i'm still with oanda.

30 notes doesnt seem to fresh its like 1.50 a day. And the pro realtime charts are pretty good. (have no opinion on igindex)

 

[tar]

Guys it is for free if u make 2 bets monthly , its worth it , i like the proscreener i use it sometimes to find some stocks ...

 

[ns1000]

I don't use IG Index, or their poor quality charts, any longer. So I am not upset about the charges. I am merely pointing out that IG are squeezing their remaining customers, probably due to falling margins

I think the concensus is that the charts are currently pretty good - maybe you haven't logged in for a while. The thread a while back when CMC switched packages from that used by IG consistenly approved of the package.

They're not squeezing their customers - to be a customer you have to buy something. If you trade twice, you don't pay. It's only carpet baggers who don't trade who are having to pay.

 

[KillPhil08]

You can trade through their charts...

Trading off the chart and managing SL and Tps is one of the main reasons i'm still with oanda.

 

[SvenFoster]

You can trade through their charts...

Sorry Phil, was that a gramatical correction? I'm not sure on your point.
cheers,
Sven

 

[KillPhil08]

With IGindex, you can trade through their charts. You just turn it on in the account settings.

 

[SvenFoster]

With IGindex, you can trade through their charts. You just turn it on in the account settings.

i see(said the blind man to the bishop)

thanks

 

[welshman]

could any of you guys give me some advice please
spread betting companies which one would you choose i already have an ig account was wondering what the thoughts on cmc or odl any any othere s that may be applicable

also charting soft ware i no that ig have their own but should you be using another charting company for free or is there a subscribed service


and do you think there is a need for real time data such as this
MarketSource - live mobile financial market data quotes, charts, alerts & news

be gratefull for your coments please

 

[2be]

could any of you guys give me some advice please
spread betting companies which one would you choose i already have an ig account was wondering what the thoughts on cmc or odl any any othere s that may be applicable

also charting soft ware i no that ig have their own but should you be using another charting company for free or is there a subscribed service


and do you think there is a need for real time data such as this
MarketSource - live mobile financial market data quotes, charts, alerts & news

be gratefull for your coments please

CMC execution is good on forex, commodoties and indexes, do not know how they perform on shares and other matkets. Their charts are joke, so if you want them for their charting package, forget it. They used to be better a year ago, before they change them to this running disaster. However, their execution on these markets is ok.

 

[SvenFoster]

CMC execution is good on forex, commodoties and indexes, do not know how they perform on shares and other matkets. Their charts are joke, so if you want them for their charting package, forget it. They used to be better a year ago, before they change them to this running disaster. However, their execution on these markets is ok.

2be, last time (a long time ago) when i used cmc/steal4free they had introduced prorealtime charts free gratis. Is that no longer the case?

 

[chezlaw]

I suspect their margins are thinning, as the pool of mugs diminishes...

It free if you make just 2 trades a month. No charge if you don't use it at all. Doesn't sound like a way to make money.

It does sound like a defensive measure to prevent people abusing the charts while not trading at IG.

 

[peakoil]

"Given the tricks they employ to relieve punters of their money, I would not have thought it makes economic sense to deter punters from trading. I suspect their margins are thinning, as the pool of mugs diminishes..."

Nice one - Right on the mark Pipppin!

 

[ns1000]

"Given the tricks they employ to relieve punters of their money, I would not have thought it makes economic sense to deter punters from trading. I suspect their margins are thinning, as the pool of mugs diminishes..."

Nice one - Right on the mark Pipppin!

Totally muissing the point.

I don't see how giving something for free to anyone placing a trade in any way deters punters from trading.

Sounds like prejudice is perverting logic.

 

[Pippppin]

In the UK we are used to (having) to deal with companies and organisations who view their customers as ripe for ripping off. There are exceptions of course, but we are so used to being ripped off in this country we don't even notice it. This applies across most sectors.

In the US, it is (generally speaking) very different. Although companies aim to make serious profits, they are also there to serve their customers, and provide genuine customer service.

I have been trading since '96. The US firms I have dealt with (and continue to do so) offer far better customer service and value for money than the British ones I have had the dealings with - the spreadbetting companies being the biggest joke of all.