IG Index Trading Platform

[TonyQ]

anley you suggest that if I were to use another broker/bookmaker I would get the same results.
Can you then tell me with which of these you have personal experience, GFT, CMC,Barclays,City Index, Spreadco, ODL, ProSpreads, Accendo, Capital Spread, TD Waterhouse,World Spreads, Fin Spreads and Intertrader. That'll do for starters.

If I get the same effect from just one of them in their demo account AND I know they are not using the same software as IGM, I shall be convinced of my bad luck. And can you tell me the names and emails of a couple of those IGM "Returners" you mention? I would like to chat with them.

I don't think I want to invest enough money to merit access to an Exchange but thanks for the tip.

Tony

Like others have said on this thread it doesn't really matter which broker you go to because you're going to have exactly the same problems.

Not having a go at you but your gripe is the same as on 10,001 threads on this and other boards over the years, they're all the same, ie 'broker playing with me, not playing fair etc'.

One thing to note though is be prepared because there's a good chance you'll find your new broker even WORSE than IG.

Many have left IG in the past because they were 'running stops' or 'stealing' or 'not filling me on the low' and so on only to return as they view them the best of a bad bunch...........

The only way out of your predicament is to trade on an Exchange where the price and fills are 100% transparent.

 

[neil]

anley you suggest that if I were to use another broker/bookmaker I would get the same results.
Can you then tell me with which of these you have personal experience, GFT, CMC,Barclays,City Index, Spreadco, ODL, ProSpreads, Accendo, Capital Spread, TD Waterhouse,World Spreads, Fin Spreads and Intertrader. That'll do for starters.

If I get the same effect from just one of them in their demo account AND I know they are not using the same software as IGM, I shall be convinced of my bad luck. And can you tell me the names and emails of a couple of those IGM "Returners" you mention? I would like to chat with them.

I don't think I want to invest enough money to merit access to an Exchange but thanks for the tip.

Tony admit it - you're a crap trader

 

[Rossini]

''Can you then tell me with which of these you have personal experience'';

GFT; good.

CMC, new platform which is fiddly but fills are excellent.

Barclays, never used them

City Index, Had an account with them for years and they are rubbish so I don't use it.

Spreadco, don't know.

ODL, Ok but you can do better.

ProSpreads, Their comms are huge, don't bother.

Accendo, no idea

Capital Spread, used to be rubbish but I tried them recently and they where passable.

TD Waterhouse, wouldnt bother.

World Spreads, good deals on spreads but not sure about fills.

Fin Spreads and Intertrader. There are better out there.

IG, the best by a country mile.

The easiest thing for someone to do is blame their broker, truth is most of the brokers today are very good with only a few exceptions.

 

[Rossini]

The other thing that I forgot to mention is that if these spikes that you refer to did exist, it would mean that at these times IG's price would be vastly different to many other sources of liquidity. Since IG will fill me with decent size and with no slippage or re-quotes, it would mean free money for me; and I promise you I would be whacking it with more than £2pp.... Unfortunately, thats not going to happen.

There is no further discussion needed here.

 

[brettus]

I see you, have to lower yourself to the level of name calling, to try and prove your point. Your point, apparently, is that several other SB bookmakers called the same low. I am not going to check it, as you appear to have done, for it is not that important to me. What is important is the frequency of these events and if you would check out these reviews, you will find that all is not well in the state of IGM.
http://www.reviewcentre.com/reviews89473.html .

An example....
Written on: 20/05/2010

IG index are definitely cheats. If you use the Metatrader 4 platform as well you can compare the Spot FX trades. I can't speak about stock and options, but they have definitely rigged their Spot FX charts. The MT4 candles start faster on every TF and have moved several pips before the IG Charts even a register a change.


All along I have said that these uncanny spikes are "SUSPICIOUS". You have tried to convince me that it is just me. Well, these reviews demonstrate I'm not alone. As far as I am concerned, IGX and IGM are bad history and from those reviews, they sound like they have cowboys in their marketing department.
You have failed in your attempt to put all of this at my feet and as you seem to know my actual stake, I now wonder what department you work for at IGX.

Furthermore, re that paltry £2 stake.
You conveniently forget that I am talking of software manipulation here and it maybe just a small stake but that is amplified to the Stop level (33 points) so a nominal £2/pt stake becomes a loss of £66 for me and a £66 GAIN for the BOOKMAKER. And we are talking BOOKMAKER here. They make their own rules they are not restricted by the FSA. Now Multiply that little £66 by the thousands that Spread Bet each hour of the working day and you have a nice little earner, don't you? And that is just for Gold. What about the little earners in FX and the Indexes? Now do you see my point? Of course you do, that is why you are trying to lay this on me and divert the attention away from the "iffy" IGM.

They are restricted by the FSA!! You're crazy! £66. They make £1mill a day on average. Why do they care about £66??? FX is different. There's no specified exchange. They take their prices from reuters i'm sure. MT4 generally takes it's prices from currenex, so they differ slightly. FX is different and every broker will have different prices.

The only things brokers can do to annoy you and be unfair, is reject your bets and give you unreasonable slippage on your stops. Also accept bets that immediately go against you. IG are the best out there for accepting your bets. Their prices are excellent. I have experienced problems with all brokers on larger sizes though. Sometimes i'm pretty sure it's one individual trader on the desk at the spreadbetting companies that rejects alot, and only accepts the good ones, that's why i trade DMA now on most products.

I think everyone is trying to tell you Tony is that things won't get any better unless you get DMA. You're not worse off than anyone else in the market and i don't believe IG have screwed you over yet.

 

[TonyQ]

Finally, after running around the barn far too many times to get here, I have the answer to my orginal request. Thank you Ross.
I am surprised that someone should need to try out so many though. However, that does reinforce my suspicions about the Spread Betting Bookies.

And Neil, I may be a novice Day Trader but I have progressed into long trousers. You will, one day with the proper TLC. So why don't you get a job instead of blindly sucking up to IGX?? Or try some trading, for you spend rather too much of your valuable winning time on this website to be a regular day trader.

And brettus, IGM ARE NOT administered nor are they restricted by the FSA. They may be "regulated" but that is more on the side of Deposit Protection, much the same as an insurance policy. I cannot see the FSA getting into a judgement over a dispute in the numerous transactions can you? Besides, the FSA have proven themselves totally incompetent over the enormous amounts of money that was loaned out from Northern Rock et al. So they are toothless old lions.
These SB "Brokers" should really be fully classified as 'Bookmaker''s as they are excluded transaction taxation such as Stamp Duty etc. Why they were never regulated by the Gaming Commission nobody knows; maybe Stuart Wheeler provided the necessary funds to avoid it.

Finally, there have been lots of comments attacking me rather than answering my novice query. I find that reprehensible, when I initially came for help.
I now find it irresistible that with such adverse feedback for me and the blatant promotion of IGM, there must be something going on at IGM that is unsavoury.
That opinion has been reinforced by the comments made over the past year or so on the reviews sites.
I am now enrolled with 3 of the companies on the list having dumped IGM already. I do especially like the operation of GFT and their DealBook360 platform. And in my demo a/c I have yet to find an abnormal spike in the price data downloads. Maybe next week. I shall be looking for it.

''Can you then tell me with which of these you have personal experience'';

GFT; good.

CMC, new platform which is fiddly but fills are excellent.

Barclays, never used them

City Index, Had an account with them for years and they are rubbish so I don't use it.

Spreadco, don't know.

ODL, Ok but you can do better.

ProSpreads, Their comms are huge, don't bother.

Accendo, no idea

Capital Spread, used to be rubbish but I tried them recently and they where passable.

TD Waterhouse, wouldnt bother.

World Spreads, good deals on spreads but not sure about fills.

Fin Spreads and Intertrader. There are better out there.

IG, the best by a country mile.

The easiest thing for someone to do is blame their broker, truth is most of the brokers today are very good with only a few exceptions.

 

[TonyQ]

brettus. Please read what is written "Now Multiply that little £66 by the thousands that Spread Bet each hour of the working day and you have a nice little earner, don't you? And that is just for Gold." 1000 x £66 = £66000 over a couple of hours. And nobody makes £1 million per day as a bookmaker. They may turn over that sum but their margin is restricted to the spread. And that may make them several thousands per day but they will have enormous running costs. People, premises and software all cost loadsa money. IGX are part of the IG Group which turned a profit before tax of £163 M for the yr ending 2011. A long way from the £300M you say IGX made on its own. A further 66 Grand a day would do IGX rather nicely. For all I know, IGX could be the NOTW and/'or the Gordon Gekko of Spread Betting. Only time will tell.

 

[neil]

brettus. Please read what is written "Now Multiply that little £66 by the thousands that Spread Bet each hour of the working day and you have a nice little earner, don't you? And that is just for Gold." 1000 x £66 = £66000 over a couple of hours. And nobody makes £1 million per day as a bookmaker. They may turn over that sum but their margin is restricted to the spread. And that may make them several thousands per day but they will have enormous running costs. People, premises and software all cost loadsa money. IGX are part of the IG Group which turned a profit before tax of £163 M for the yr ending 2011. A long way from the £300M you say IGX made on its own. A further 66 Grand a day would do IGX rather nicely. For all I know, IGX could be the NOTW and/'or the Gordon Gekko of Spread Betting. Only time will tell.

Quit blaming your tools Tony and admit you're a crap trader

 

[brettus]

brettus. Please read what is written "Now Multiply that little £66 by the thousands that Spread Bet each hour of the working day and you have a nice little earner, don't you? And that is just for Gold." 1000 x £66 = £66000 over a couple of hours. And nobody makes £1 million per day as a bookmaker. They may turn over that sum but their margin is restricted to the spread. And that may make them several thousands per day but they will have enormous running costs. People, premises and software all cost loadsa money. IGX are part of the IG Group which turned a profit before tax of £163 M for the yr ending 2011. A long way from the £300M you say IGX made on its own. A further 66 Grand a day would do IGX rather nicely. For all I know, IGX could be the NOTW and/'or the Gordon Gekko of Spread Betting. Only time will tell.

Tony. 1000 x £66. And for every 1000 they screw, by spiking their price they actually fill another 1000 customers at a price below the market traded. How dumb can you get? They could only skew their price according to their position, if they had the tools to do so.

I was right then. £1mill a day. You f**king bell.

 

[anley]

Chill out Tony, this is an internet message board so it's full of faceless message board warriors like me.

Some comments will be nasty, others good but that's just the internet for ya.

Back to your problem, if you feel IG have been playing games with you then you're doing the right thing and voting with your feet. But the point many have been making is that all spread betters are generally the same because when you make your own markets you in turn make your own rules.

So go try some new brokers out, you haven't got much to lose and everything to gain.

Good luck

 

[brewski1984]

I used to complain all the time that poker sites were rigged. Dealing out AA v KK all the time just to increase their rake but then I thought about it logically and realised that they actually have no need whatsoever to rig their games at all. Those hands will happen anyway and half the time it would be rigged in my favour!

This is almost exactly the same, you're probably getting screwed by the nature of the markets not the company you use.

 

[Stirf]

What a thread this is... I'm glad that in the end Tony got some useful answers to his question. Beacuse there was actually ONE simple question:

Has anyone else experienced this phenomena?

Then why do some of our "fellow" traders come up with remaks like:
"you're a complete noob"
"admit it you're a crap trader"

I trust you have enough info on the subject now Tony. And my advice for any posts in the future. Don't bother replying to those who sound like hollow barrels. It's not worth the effort. Take from the thread what you think is usefull and leave the rest. Not worth the attention. I can't tell for sure of course, but it seems like some of the participants on this forum are more into avoiding boredom than to actually trading.

Now you all have a great week and be nice to eachother :cheesy:!

 

[TonyQ]

Yes. you give sound advice Stirf. I shall ignore the childish rantings and utilise the small amount useful information provided somewhere here within the junk mail.

I don't suppose you have any experience with a Renko based trading system do you?

 

[tar]

You are just being unlucky and a complete noob. I proved that the one fill you got was legit. The others i don't know about and i assume you were just unlucky again. You would have been unlucky whoever you traded with. They don't skew prices on your £2 a point. Don't be so naive!

+1

 

[Stirf]

Yes. you give sound advice Stirf. I shall ignore the childish rantings and utilise the small amount useful information provided somewhere here within the junk mail.

I don't suppose you have any experience with a Renko based trading system do you?

"Renko based"... Is that edible :cheesy:!? Nah sorry, not an expert on non time frame based thingies. Besides that, I must say I'm not realy into cfd's. They are a lot like Turbo's, issued by ABN AMRO Bank I used to trade them in the early days. Markets are often very thin, spreads are large and costs are rather high. Besides that the issuer of the instrument often plays a big role in the trading of those instruments. I compare this with having a legal assistance insurance and you need to take on a case against the company that has insured you. Understand what I mean?

I prefer to stick to the main markets. You know if I see that about 250000 contracts are traded a day in the G6E then I'm not too worried about the fairness of the market. C u around :drunk:!!

 

[TonyQ]

Well it could be edible, Stirf, but it would be hard to digest as the origins are Japanese, and these act much like their candles. It means "brick" in Japanese.

And Thank you for pointing out the blindingly obvious to those averse to providing an actual answer to a question and I feel that many of them could benefit from reading Dale Carnegie's famous book.

CU on the trading tree.

Tone.

"Renko based"... Is that edible :cheesy:!? Nah sorry, not an expert on non time frame based thingies. Besides that, I must say I'm not realy into cfd's. They are a lot like Turbo's, issued by ABN AMRO Bank I used to trade them in the early days. Markets are often very thin, spreads are large and costs are rather high. Besides that the issuer of the instrument often plays a big role in the trading of those instruments. I compare this with having a legal assistance insurance and you need to take on a case against the company that has insured you. Understand what I mean?

I prefer to stick to the main markets. You know if I see that about 250000 contracts are traded a day in the G6E then I'm not too worried about the fairness of the market. C u around :drunk:!!

 

[neil]

Tony. 1000 x £66. And for every 1000 they screw, by spiking their price they actually fill another 1000 customers at a price below the market traded. How dumb can you get? They could only skew their price according to their position, if they had the tools to do so.

I was right then. £1mill a day. You f**king bell.

Oh Brettus - you sum up Tony so well

 

[TonyQ]

I was right then. £1mill a day. You f**king bell.
Oh Brettus - you sum up Tony so well - Neil .

No!! You are the ignorant ones.
Previously stated -
"IGX are part of the IG Group which turned a profit before tax of £163 M for the yr ending 2011. A long way from the £300M you say IGX made on its own. "

NOTE:
The Whole Group made a pre-tax profit of £163M . That comprises IGX The SB company, IGM the CFD Company AND NADEX in the USA. Nadex is their North American Derivatives Exchange speciality Binary trading. They ALL contribute to the figures.
So ALL 3 Divisions produced an annual profit of £163M. IGX Made (= profit) around £60 Million for the year, rather less than the £1 million per day, you maintained, Brettus. ( FYI £1 M per day = £365M per year and the word "made" means "a profit of" ). So an extra, say £20K per day, will help fund their operation very nicely.

So, You should learn to read Annual Reports, stop showing your mother's slip AND get some maths lessons, before you childishly name-call again.

And anyone who has to keep adding silly smilies to their postings ought to check their birth certificate too.

If I was initially hesitant in leaving IGX, I am no longer.
For the lack of real advice and the persistent, childish name calling from the IGX supporters club on this innocent thread, tells me that I would be in the dodgy company, as some reviewers have already suggested.

Thank you to those that have provided the real information but it's a pity that others could not have been so mature.

 

[tar]

For God sake close your account already and move to another broker , stop moaning like a f**** baby because of 60 quids ...

 

[Stirf]

"for god sake", "stop moaning", "f**** baby"... It sounds like you are pretty frustrated about this thread tar...