IG Markets/Index Alternatives?

[N9ne]

Hi all,

I'm looking to get back into a bit of day-trading, and am in search of a company which can offer me what I need. I wish to trade CFDs and FX (only majors). CFDs I will mainly trade are indices, energies and gold.

Now, I've been playing around with a demo account at IG Markets and really like the platform - the chart software is okay. However, I've read the myriad of bad comments about IG Markets and their tactics with regards to 'balancing their books' - it appears that their spiking of prices to stop you out is not a rumour but indeed a fact based up on many's experience. It also appears to be written, slightly indirectly, in their Customer Agreement.

In the past, I've used FXCM for FX and thought it was pretty good. I've used CMC Markets for CFDs - while it was okay, I really disliked their platform. However, their new charts are nice.

Is there someone who doesn't employ the same tactics as IG Markets, but offers CFDs and FX, with a good platform? Or, is this indeed the million dollar question!? I've had a browse and search around these forums but found it difficult to really single out any particular company.

Thanks in advance for any advice.

 

[N9ne]

Indeed it does look like that is the only plausible option. I won't hesitate to leave if I start noticing those infamous price spikes though!

 

[cryten]

N9ne I havn't yet noticed any of these spikes, the one time I thought I may have been spiked I checked the "real" market" on my prorealtime platform and it spiked to the exact point there as well. I hope it continues as I like the platform and their execution which is far superior to cms forex, Alpari and iii Spreadbetting combined.

As for their CFD's I thought those were DMA through IG?

 

[davie]

N9ne I havn't yet noticed any of these spikes, the one time I thought I may have been spiked I checked the "real" market" on my prorealtime platform and it spiked to the exact point there as well. I hope it continues as I like the platform and their execution which is far superior to cms forex, Alpari and iii Spreadbetting combined.

As for their CFD's I thought those were DMA through IG?

Hi Cryten,

Can you give me any pro's and con's regarding IG Markets ?

Thx....Davie

 

[shadowninja]

I was under the impression that they were the most honest of all "brokers".

 

[BigDeal]

I use IG Markets for CFD trading (UK shares only). I think the platform is good. Although I've only had the account open for a month, I have used IGIndex for many years via their Puredeal platform. After reseaching the market, I chose them because I trust them; a big issue for me is how good and easy money transfer is; I fund with debit card and they will refund to same, (with FinSpreads they'll accept debit transfers, but wll only send a cheque back??. Also IGs commission / pricing seems good (compared through londonstockexchange website). I have also had to phone them to clarify a few things, and found them helpful each time.
I personally don't believe a co like IG 'spike' prices - they'd be crazy to damage their repuation doing this. If you're trading shares through DMA you can see the exact bid/offer when you trade so manipuating prices isn't possible. I also trade the major indices, FOREX and occassionally commodities, and I personally think a spreadbetting platform is better for these and wouldnt do it through CFD platform. The reason - the spreads on indices, for example, are the same va CFD or S/B, but you can trade less per pip on S/B, and I'm assuming these is still a commission charge via CFD route

 

[MrMiyagi]

N9ne I havn't yet noticed any of these spikes, the one time I thought I may have been spiked I checked the "real" market" on my prorealtime platform and it spiked to the exact point there as well. I hope it continues as I like the platform and their execution which is far superior to cms forex, Alpari and iii Spreadbetting combined.

As for their CFD's I thought those were DMA through IG?

I could be wrong, but I think Ig's charting, as well as Capitalspreads, are just whitelabel versions of Prorealtime..
might be an idea to check other providers if it happens again...

 

[gedward3]

I could be wrong, but I think Ig's charting, as well as Capitalspreads, are just whitelabel versions of Prorealtime..
might be an idea to check other providers if it happens again...

MrMiyagi IG's is Prorealtime where's last time i looked Capitalspreads
is ITFinance. http://www.it-finance.com/

Ged

 

[MrMiyagi]

MrMiyagi IG's is Prorealtime where's last time i looked Capitalspreads
is ITFinance. http://www.it-finance.com/

Ged

they're the same thing, IT finance is the owner of all of 'em.

 

[gedward3]

they're the same thing, IT finance is the owner of all of 'em.

Well i didnt know that. I thought they were totally different for some
reason.

Cheers

 

[wiseass]

GFT is pretty good