IG Index Thread
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hobby
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Riverland said:
Yes, a simple thing but it makes trading just that little bit easier - esp when you have a few positions open - the P/L field in the lower window is now your actual true running profit and loss as opposed to being based on the mid price of your trade (which was close, but not the true P/L figure).
Riverland
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For me this has changed for the worse. I have a controlled risk account and showing the mid price was good as CR bets close at the mid price. So I could accurately see my profit/loss and proximity to stop loss.hobby said:
So they have changed the latest price field to the sell price, which I don't like but I guess standard account customers prefer.
Let's be honest, is it really beyond them to make the latest price accurately show the selling price relevant to the type of trade.
Coincidentally, I sent them an email yesterday morning asking for some kind of explanation (I wasn't aware that standard account customers had also been seeing the mid price), but have not yet heard anything.
Phil Mibbutz
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Coincidentally said:
In my experience few companies bother to reply to emails, though IG have been better than most. I have a standard account, and I am glad they have started to use the bid/ask price rather than the mid-price since it more accurately reflects the status of an open position
Online spread betters are crooks with ties on. Beware, I was signed up with IG and often my positions were hit to open or close on my Reuters data feed, but guess what not on IG. Having been relitively new to this business and wet behind the ears, I thought that my data was wrong, it was only on further investigation that I found that IG's priced do not match the real market, in fact unless your broker is offering a direct ECN forget trading forex if you are scalping.
I traded a couple of news events on IG only to wait 5 minutes for my order to be filled, by that time the market had moved below my entry, I had set limit orders and guess what 7 points slip on my entry and 5 points slip on my fill. As I was only going for 20 points. I lost 12 point plus spread=15 points ha, ha.
Yes in this age of computers we are expected to believe that these orders are manually entered, by a clown that calls himself a broker. Oh yes I use to trade copper, and I realised that you got spikes, sometimes 100 's points, so I dreamed up a hovering order, 50 points above or below the line, with a catch on a 80 point move.
Often the market would hit my orders and fly back down, was I ever filled, yes on the way back down to hit my stop. Classic one was where I entered a trade to be stop out instantly, funny how my stops always got hit!
These boys are in the market to take money off you and they do, as they assume 80% of us will fail it is rare they execute your position, why bother when you can stall the market and control volitility, suppose the yen usd moves to 117.34 from 117.37on Reuter IG might show 117.35, now if your trade closes at 117.37, you never close and the market moves in the opposite direction, resulting in a loss for you.
Forex is an uncontrolled unregulated market, if you want to trade then use Futuresbetting.com, you get filled in 1/20th of a second and no requotes, unfortunately for me they do not do the cash forex pairs only futures.
IG in my view what it all their own way just like all the spread bet companies.
Smalldog
I traded a couple of news events on IG only to wait 5 minutes for my order to be filled, by that time the market had moved below my entry, I had set limit orders and guess what 7 points slip on my entry and 5 points slip on my fill. As I was only going for 20 points. I lost 12 point plus spread=15 points ha, ha.
Yes in this age of computers we are expected to believe that these orders are manually entered, by a clown that calls himself a broker. Oh yes I use to trade copper, and I realised that you got spikes, sometimes 100 's points, so I dreamed up a hovering order, 50 points above or below the line, with a catch on a 80 point move.
Often the market would hit my orders and fly back down, was I ever filled, yes on the way back down to hit my stop. Classic one was where I entered a trade to be stop out instantly, funny how my stops always got hit!
These boys are in the market to take money off you and they do, as they assume 80% of us will fail it is rare they execute your position, why bother when you can stall the market and control volitility, suppose the yen usd moves to 117.34 from 117.37on Reuter IG might show 117.35, now if your trade closes at 117.37, you never close and the market moves in the opposite direction, resulting in a loss for you.
Forex is an uncontrolled unregulated market, if you want to trade then use Futuresbetting.com, you get filled in 1/20th of a second and no requotes, unfortunately for me they do not do the cash forex pairs only futures.
IG in my view what it all their own way just like all the spread bet companies.
Smalldog
rav700
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Re: Ig index
A coupe of things....
I trade with IG index and have had not issues at all....How long have I been trading over 4 Years now.......
I have recently started trading with IGforex .com. Again no issues at all.....Now the one thing with my trading is that I am a scalper so may be my methods of trading are in my favour.....
I cant say much more than that....
I know these spreadbetter are very cunning but there is a big difference between IG index and Finspreads......and one thing is for sure there is no comparison between both of them.....
Happy Trading
Rav
A coupe of things....
I trade with IG index and have had not issues at all....How long have I been trading over 4 Years now.......
I have recently started trading with IGforex .com. Again no issues at all.....Now the one thing with my trading is that I am a scalper so may be my methods of trading are in my favour.....
I cant say much more than that....
I know these spreadbetter are very cunning but there is a big difference between IG index and Finspreads......and one thing is for sure there is no comparison between both of them.....
Happy Trading
Rav
Smallgog
I couldnt agree more.. Im assembling a lawsuit against them to claim back my losses because of exactly this con in that the markets traded are not the real market and the descriptions provided do not do enough to clarify this fact.
Also be aware that CFDs are in essence very very similar in that they are ALL fake. The company offering you a CFD is simpoly using a FORMAT to provide you a n unreal market that has the best parts cliped out so they make money not only on the spread and the trade fees but also on the difference between the underlying and the fake values they give you.
I wont take this lying down at all... they took 1.5 months to clarify my questions about the markets... after i lost the stake because of being stopped out unexpectedly or thier data graphs not reflecting true market values or volatility properly..
do yourselves a favour.. stop breadbetting and take your trading seriously, trade mechanically if you have time or otherwise swing trade using a proper broker and worden charts in real markets not fake markets .. would you bet on a doped horse? then why spread bet or use CFDs? wake up people..
I couldnt agree more.. Im assembling a lawsuit against them to claim back my losses because of exactly this con in that the markets traded are not the real market and the descriptions provided do not do enough to clarify this fact.
Also be aware that CFDs are in essence very very similar in that they are ALL fake. The company offering you a CFD is simpoly using a FORMAT to provide you a n unreal market that has the best parts cliped out so they make money not only on the spread and the trade fees but also on the difference between the underlying and the fake values they give you.
I wont take this lying down at all... they took 1.5 months to clarify my questions about the markets... after i lost the stake because of being stopped out unexpectedly or thier data graphs not reflecting true market values or volatility properly..
do yourselves a favour.. stop breadbetting and take your trading seriously, trade mechanically if you have time or otherwise swing trade using a proper broker and worden charts in real markets not fake markets .. would you bet on a doped horse? then why spread bet or use CFDs? wake up people..
hobby
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Paulds11 said:
I've traded with IG for years. I don't use stops, so can't comment on all this getting stopped out melarkey! By & large I find their trading interface ok. My main gripe is that they are setting they're own bid/ask prices! Sometimes, their price is not that close to the actual mkt it's meant to represent!!
For example for most of Friday, their daily DAX bid/ask was consistently 4-5 points above my Reuters Terminal price! Now I accept that there'll be an over/undershoot when a price moves quickly, but actually Friday was fairly non-volatile yet it was constantly 4 points higher than the cash market. I've challenged them about this before & I got some load of old twaddle about their DAX daily being based on the futures!
WTF?!!!...then why is it called a DAX daily?!!!! It seemed to me that - for Friday at least - they weren't keen on (or just wanted to disadvantage) too many longers opening new DAX longs (or shorters to close existing positions!)....hence pricing it high. Little point in it being just a 2 point spread if they are FOUR points above the actual traded mkt price!
It's hard enough to call a mkt right as it is, only to find that IG's quote doesn't reflect the actual underlying mkt. Surely, for an instrument with a 2 point spread, on average, their bid price should be one point below the cash mkt & their ask price one point above?
Surely, by definition, spread betting companies are meant to make their cut from the spread? (& not by pricing the market themselves?!). I'd love to know how well they are regulated (in comparison to say other betting vehicles ...eg casinos etc)...in my books, it's bordering on fraudulent to have an instrument called "DAX 23 Mar" only to find out it doesn't mirror the DAX cash mkt on the 23rd March!
They should therefore call it "IG's interpretaton of the DAX 23 Mar, priced using futures and any other load of old b0ll0cks we choose to use"!!! (though I accept it's not as catchy).
I'd love to know how this wold all stand up in court. ("yes, your honour, we call it the Dow daily, but in actual fact, it's our interpretation of the Dow & we set the price how we like/want"
Imagine a car dealer selling "Acme kit cars" but advertising/selling them as Ford Kas...ie the trades decriptions act would come into play immediately, so how can spread betting firms sell a product that only loosely reflect on the true underlying mkt price?
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Hobby.. EXACTLY!!!!!!!!!
I began to think it was just me but I now have yet another individual who has sent me private messages complaining o f the same... Id like to think Im going to get my money back on those x4 rogue trades where I truly believe IG if not responsible were culpable.. and it seems many spread betting companies have been up to similar things... here is a copy of of some info I was sent today.. I have yet to verify it all but it made me gasp when I received it it.. hmm..smoke, fire and all things obscure.... perhaps?
If the links dont work, simply click here and search easily for the files or issues relevant to you: http://www.fsa.gov.uk/Pages/library/index.shtml
-------------------------------------
Examples include:
city index fined for £35,000 for misleading promotions for spread betting and contracts for differences http://www.fsa.gov.uk/Pages/Library.../2005/030.shtml
cantor index fined £70,000 for misleading spreadbetting promotions
http://www.fsa.gov.uk/Pages/Library.../2004/115.shtml
axa for £500,000 for misleading information
http://www.fsa.gov.uk/Pages/Library.../2004/111.shtml
even hemscott fined £50,000
http://www.fsa.gov.uk/pages/Library.../2005/002.shtml
highbury financial for £35,000
http://www.fsa.gov.uk/pages/Library.../2005/026.shtml
also they are doing a present review into spreadbetting companies and their practice this year. See link
http://www.fsa.gov.uk/pages/Doing/R...d_betting.shtml
Out of interest nationwide fined almost a million for employee losing the laptop in news not long ago
http://www.fsa.gov.uk/pages/Library.../2007/021.shtml
Dont get mad.. get even.. it isnt right that new people arnt made sufficiently aware of the numerous manipulations of the markets by these firms when speculating, youd expect perhaps any manipulation to be consistently applied to the underlying, not that they are varied across all time frames mid session if required at random .. and the nature of these interventions are not in my mind explained thoroughly ..for such a high risk product (risk warning in itself is not enough, nature of risk is required) it makes a mockery of all the fundamentals they provide about markets and the poor graphical data they provide in support of their position makes them culpable and I dont believe they can hide under the guise " graphs are indicative" when set against all the issues. Thats like saying "we ve uncovered match fixing by you during the race" to which the groundsman replies "yes but the score itself is only indicative.." ....please!.....
PS..Id like to add this isnt about being a bad looser and my English is not the issue here
Paul
I began to think it was just me but I now have yet another individual who has sent me private messages complaining o f the same... Id like to think Im going to get my money back on those x4 rogue trades where I truly believe IG if not responsible were culpable.. and it seems many spread betting companies have been up to similar things... here is a copy of of some info I was sent today.. I have yet to verify it all but it made me gasp when I received it it.. hmm..smoke, fire and all things obscure.... perhaps?
If the links dont work, simply click here and search easily for the files or issues relevant to you: http://www.fsa.gov.uk/Pages/library/index.shtml
-------------------------------------
Examples include:
city index fined for £35,000 for misleading promotions for spread betting and contracts for differences http://www.fsa.gov.uk/Pages/Library.../2005/030.shtml
cantor index fined £70,000 for misleading spreadbetting promotions
http://www.fsa.gov.uk/Pages/Library.../2004/115.shtml
axa for £500,000 for misleading information
http://www.fsa.gov.uk/Pages/Library.../2004/111.shtml
even hemscott fined £50,000
http://www.fsa.gov.uk/pages/Library.../2005/002.shtml
highbury financial for £35,000
http://www.fsa.gov.uk/pages/Library.../2005/026.shtml
also they are doing a present review into spreadbetting companies and their practice this year. See link
http://www.fsa.gov.uk/pages/Doing/R...d_betting.shtml
Out of interest nationwide fined almost a million for employee losing the laptop in news not long ago
http://www.fsa.gov.uk/pages/Library.../2007/021.shtml
Dont get mad.. get even.. it isnt right that new people arnt made sufficiently aware of the numerous manipulations of the markets by these firms when speculating, youd expect perhaps any manipulation to be consistently applied to the underlying, not that they are varied across all time frames mid session if required at random .. and the nature of these interventions are not in my mind explained thoroughly ..for such a high risk product (risk warning in itself is not enough, nature of risk is required) it makes a mockery of all the fundamentals they provide about markets and the poor graphical data they provide in support of their position makes them culpable and I dont believe they can hide under the guise " graphs are indicative" when set against all the issues. Thats like saying "we ve uncovered match fixing by you during the race" to which the groundsman replies "yes but the score itself is only indicative.." ....please!.....
PS..Id like to add this isnt about being a bad looser and my English is not the issue here
Paul
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Paulds11....I admire your spirit, even if your grammar leaves much to be desired.
I wish you the best of luck in your battle with IG, but you should be aware that you will have to be much more precise, and your argument much more cogent, that your posts on T2Win imply. Otherwise IG will "eat you for breakfast", figuratively speaking.
Paulds11 vs. IG Index...
Keep us posted
I wish you the best of luck in your battle with IG, but you should be aware that you will have to be much more precise, and your argument much more cogent, that your posts on T2Win imply. Otherwise IG will "eat you for breakfast", figuratively speaking.
Paulds11 vs. IG Index...
Keep us posted
This is going to sound like a stupid question............Are all the FUTURES i.e FTSE JUNE 07 all the same price with ALL the spread betting companies. I mean do they make there own prices on these too?
I have an account with IG but do not use them much now as they wont let me have a normal account, Only a Controlled risk account.
Is it the case that many people (Beginners mainly) start with spread betting. So Like me starting out betting in this way there will be a lot of losers (Money Speaking), and alot of complaints, but justified complaints when you find out that the prices you see do not mach the market. I did not know this when I started. So I agree that it should be a level playing field and I hope this Guy (Paulds11) gets what he wants and hopefully we can all benefit from it, but until someone stands up to them they will keep on doing it.
An answer to my first question would be great as I am looking to FUTURES and been thinking of it quite a while now.
Also what is the problem with these companies actually using the proper prices in the first place. Sorry forgot..........Its there company.
Cheers
I have an account with IG but do not use them much now as they wont let me have a normal account, Only a Controlled risk account.
Is it the case that many people (Beginners mainly) start with spread betting. So Like me starting out betting in this way there will be a lot of losers (Money Speaking), and alot of complaints, but justified complaints when you find out that the prices you see do not mach the market. I did not know this when I started. So I agree that it should be a level playing field and I hope this Guy (Paulds11) gets what he wants and hopefully we can all benefit from it, but until someone stands up to them they will keep on doing it.
An answer to my first question would be great as I am looking to FUTURES and been thinking of it quite a while now.
Also what is the problem with these companies actually using the proper prices in the first place. Sorry forgot..........Its there company.
Cheers
Pippppin said:
??Whats with the personal attack?? How ridiculously pompous and uptight you must be to attack my English for the third time on these boards... I guess your not that busy huh? ....Does it take you half an hour to write txt mssgs? R u missing a little love at home? Did you think Id post my thesis for you to mark? Do you feel entitled and justified to comment?.... A touch of OCD with a stranglehold over your character? whatever your angst.......Listen carefully..... You dont know me or my background so back off from anything personal... period
I find your responses vapid and self effacing but I refrain from any personal attack, because I have manners and respect regardless of the quality of prose I read...
In the same vein Id be justified to label you a hypocrite if I was equally Machiavellian, for even your own name looks like a bad spelling attack you failed to correct...
Paul
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counter_violent
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Did anyone consider the obvious around here.......S B Co's provide charts in the main .....trade the chart, Not the Real Market price...........
