IG INDEX stealing points?

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seanb85

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Hey guys,

I'm fairly new to this trading/spreadbetting stuff and just had a question if anyone would be so kind enough to answer.

Today I went long on Barclays and the buy price given was 269, I confirmed everything but then in the open transactions box this was listed at 273!! Is this a common occurence or have I just done something wrong?

Thanks
 
seanb85 said:
Hey guys,

I'm fairly new to this trading/spreadbetting stuff and just had a question if anyone would be so kind enough to answer.

Today I went long on Barclays and the buy price given was 269, I confirmed everything but then in the open transactions box this was listed at 273!! Is this a common occurence or have I just done something wrong?

Thanks
Click to expand...
Hi seanb85

If the share is active at the time of placing the bet then slippage can happen. Call the broker and ask why but you will probably be given the slippage story. Its funny how most of the time this slippage works in the favor of the broker...
 
Hi,

If you are on a limited risk account a extra spread of 3 points is added on this is called a guaranteed stop. This option stops slippage when either a limit or a stop is hit...
 
Thank you both for replying...

I think STRTRADA has worked it out for me...the guaranteed stop loss bit of my account is greyed out which I think means I must be on a limited risk account. I'm taking that off right away!

Thanks chaps
 
seanb85 said:
Thank you both for replying...

I think STRTRADA has worked it out for me...the guaranteed stop loss bit of my account is greyed out which I think means I must be on a limited risk account. I'm taking that off right away!

Thanks chaps
Click to expand...

Yes, you are on a limited risk account (guaranteed stops compulsory, and an extra premium is payable).

However, I still don't buy that as an explanation for what happened.

The additional spread would be allowed for in the sell price, so if the price you got filled at is more than the price you put in the dealing ticket, I think it means you got slipped (in addition to paying a premium of 3 pips for the guaranteed stop).

You can't just "take it off right away" <Tommy Cooper>just like that</Tommy>.

You will have to phone them, and they will go through some questions with you.

A few months ago, I was invited by email to upgrade my account from LR to Plus (presumably because it was more than 1 year old by then). I still had to go through the question rigmarole.
 
seanb85 said:
Thank you both for replying...

I think STRTRADA has worked it out for me...the guaranteed stop loss bit of my account is greyed out which I think means I must be on a limited risk account. I'm taking that off right away!

Thanks chaps
Click to expand...


No Problem..I see you are trading stocks mainly so I would not suggest to use the limited risk account with the extra spread. It's mostly for people who trade more volatile stuff.

Happy trading mate.
 
montmorencyt2w said:
Yes, you are on a limited risk account (guaranteed stops compulsory, and an extra premium is payable).

However, I still don't buy that as an explanation for what happened.

The additional spread would be allowed for in the sell price, so if the price you got filled at is more than the price you put in the dealing ticket, I think it means you got slipped (in addition to paying a premium of 3 pips for the guaranteed stop).

You can't just "take it off right away" <Tommy Cooper>just like that</Tommy>.

You will have to phone them, and they will go through some questions with you.

A few months ago, I was invited by email to upgrade my account from LR to Plus (presumably because it was more than 1 year old by then). I still had to go through the question rigmarole.
Click to expand...

Yeah a Slippage of 1 point!?
Hardly the end of the world
...If you feel you want to complain...go ahead...The Limited risk account should stop any slippage:cheesy:
 
Last edited:
Well not my account, so not my complaint, but I see what you mean.

I've just re-read the OP's posting again, and now realise it was the open positions where he was seeing the 273 in the open transactions, so of course that's the sell price.

I was thinking he meant he'd re-opened the ticket for the deal and was seeing 273 as the buy price.


....I hardly ever do stocks and am unfamiliar with the typical spread.
Just had a look on my IG account and it's showing Barclays with a spread of 0.52 if my arithmetic is correct, plus a premium of 1.855 = 2.375.


So, is Barclays a good buy then? I see it's been as high as 282 today, so if you bought at 273 OP, maybe you did ok.
 
I was going to post my own thread for this but this is somewhat near what I wanted to say
===
Slippage on IGIndex is a Nightmare!!!

To put it in context I have been SB'ing about 2 years and trading for about 15 years...

I have 5 spread betting accounts with other companies and this is the first time i have bothered to whine :p

I put in a small amount into a account I have had with them. And I wanted to just trade with them to establish slippage etc etc....and whether any platform freezes occur etc...

Well I could give u a list of trades but I ain't that boring :p

but will give u first 2 trades

1.eu short , sl 10 pips tp none (I was filled 8 pips off the price i clicked) BAM insta sl!!
2.Gu Long, sl 15 pips tp none (I was filled 7 pips off the price I clicked) this one lasted a little longer :) 2 mins later SL.

So lesson learned 50 pip sl! Works fine. Next 5 trades on GU slippage, 3,6,7,6,8,9 (I am diffinately of opinion the 3 was a complete fluke!)

Well because my account is limited risk! Which means I need to have GSO. I get the spread +-3 but I got one trade out of 20 that hit this GSO+3.

Is this normal ? The slippage is horrendous! Needless to say scalping is impossible. Whats peoples opinion? I read the reviews and imho it is exactly the same as my expierence. I like their layout as a simple platform and is useful as it is web based. But with this level of slippage the cost of trading with them is too high!!

O.P Have a look at a ticket and check if u have Guarrenteed Stop Order force ticked. And how many pips it says u will have to pay on spread. This could be a explanation!!

LL
 
I scalp on 3 of my 5 brokers... I call scalping 5-10 pips... on gu eu uj ftse this is easy... and I have never had problem with these brokers...
I was more interested in slippage discussion as opposed to scalping discussion
 
We digress but on a spread of 2 pips on ftse and uj eu and gu scalping is easy. Obviously spread changes but taking 2-3 pips as average spread, grabbing pip moves is easy. A scalp can be important counter trend thus the need to limit exposure to trend....
 
The real answer is you will always get slippage whether your trading via a broker or spread betting....
 
I would be really interested in traders who use IGINDEX to trade to respond.

Like i said on 3 of my 5 brokers i get slipped max a pip if that. (we are ignoring news trading) the 2 i get slipped if i trade in a big tick up. Thats it!

If i get slipped 2 trades in a row in any of the platforms I get annoyed... this hasn't happened for over 2 months!

So back to the original question! The list of slippages i have went through? Am i to expect this consistently or is this something out of the ordinary. I trade large sums so slippage is very important to me.... obviously as a % its the same... it just sounds more when its as a actual ***perPt.
 
GFT have a facility to only trade at your price. Guaranteed no slippage. This will mean that you don't always get filled though.

P.s - If you are consistently taking small amount of pips S.betting, then good for you. IMO, transaction costs are very high for small amount of pips and they come down with each pip made in S.B.
 
thanks but was really after a solid opinion on IGINDEX slippage..
even for large moves it must be consider poor. (+100 pips) It would represent an additional 3-4% transaction cost.
 
jason101,

on scalping, indicators are very important imho...and technicals.. fibs on some forex pairs can be extremely useful when countertrend trading/scalping,..
Screen time when scalping is the most important aspect and a very quick responsive platform... enabling in and out at a click with minimal delay.
 
Call me cynical, but I think slippage with SB increases the higher the stake. At £1 per pip/pt, no problem! Another factor is that some (IG and GFT inc) have variable spreads on FX, so a few pips can easily go astray.
 
littleluca said:
I scalp on 3 of my 5 brokers... I call scalping 5-10 pips... on gu eu uj ftse this is easy... and I have never had problem with these brokers...
I was more interested in slippage discussion as opposed to scalping discussion
Click to expand...
Id like to know more about this also.. Im sure many others would too..
Anyone use IG also noticed more slippage than other SB brokers?
 
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