The intimidation tactics of IG has started to get to me. I'm losing sleep...but I am not going to give in. Bankrupt me yer *******s, ruin my life!
I need to find a newspaper journalist! anyone know one?
How do I get to contact Mike Ashley? Anyone got his number?
I need to find a newspaper journalist! anyone know one?
How do I get to contact Mike Ashley? Anyone got his number?
Jack Hughes
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Max Clifford's your man.
you beauty!
BSD
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Couldn't be bothered reading the whole thread, but one simple question keeps popping up...
Why on earth would anyone with their head screwed on straight ever even waste just half a second of their lives even remotely contemplating daytrading let alone scalping with a bucket shop...
Their marketing that it's tax free in the UK won't help as you'll never manage to end up net profitable anyway.
Ponzi scheme marketing probably sounds attractive to some too, but won't help 99% of those "victims" either will it as the promised profits won't ever materialise for them any more than short term spread betters will ever be raking in their trading profits tax free either lol.
Bucket shops didn't work in Livermores day and don't today for the simple reason that they make their money off of losing punters, and don't have an interest like real brokers in net profitable traders.
Direct and above all real market access brokers like mb or mirus or global or amp or velocity or even interactivebrokers have such low margins and mostly very decent commissions that there is absolutely no reason to trade with some joke outfits that skew the tough odds against you even more by having you trade off of freely invented/delayed/not-executable whatever prices.
Why anyone would fall for this tax free nonsense in the face of this tremendous real world adversity is really completely beyond me.
Trading is tough enough as it is.
So anyone who hopes to have even half a chance at belonging to the tiny minority who are net profitable over time needs to do their homework and line up all the odds as favourably as they possibly can by going for low transaction costs which obviously includes getting fills at best prices possible.
Hedge funds measure their brokers performance by fill quality.
So does anyone here feel so invincible that they can ignore that benchmark best practise and trade off of fantasy prices ?
Good luck bigboy, but I'd vote with my feet and just write it off as an inevitable bad experience when dealing with a bucket shop.
Why on earth would anyone with their head screwed on straight ever even waste just half a second of their lives even remotely contemplating daytrading let alone scalping with a bucket shop...
Their marketing that it's tax free in the UK won't help as you'll never manage to end up net profitable anyway.
Ponzi scheme marketing probably sounds attractive to some too, but won't help 99% of those "victims" either will it as the promised profits won't ever materialise for them any more than short term spread betters will ever be raking in their trading profits tax free either lol.
Bucket shops didn't work in Livermores day and don't today for the simple reason that they make their money off of losing punters, and don't have an interest like real brokers in net profitable traders.
Direct and above all real market access brokers like mb or mirus or global or amp or velocity or even interactivebrokers have such low margins and mostly very decent commissions that there is absolutely no reason to trade with some joke outfits that skew the tough odds against you even more by having you trade off of freely invented/delayed/not-executable whatever prices.
Why anyone would fall for this tax free nonsense in the face of this tremendous real world adversity is really completely beyond me.
Trading is tough enough as it is.
So anyone who hopes to have even half a chance at belonging to the tiny minority who are net profitable over time needs to do their homework and line up all the odds as favourably as they possibly can by going for low transaction costs which obviously includes getting fills at best prices possible.
Hedge funds measure their brokers performance by fill quality.
So does anyone here feel so invincible that they can ignore that benchmark best practise and trade off of fantasy prices ?
Good luck bigboy, but I'd vote with my feet and just write it off as an inevitable bad experience when dealing with a bucket shop.
oildaytrader
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Thanks for your support :clap:
I G provide a service to fantasy traders , in need of make believe that they are traders, mostly city orders clerks acting as liason between pension funds and banks.Most wouldn't know how to trade, what they call trading is when an institution places an order and they source on the exchange or by telephone, they add a few ticks to institutional order as their trading profit.
These real traders need I G index to boast about , as their conquests are discussed in glorified city trading in city pubs.They would rather pay 6 cents than trade on ipe for 1 cent.
B
Black Swan
BSD, your reference to Livermore, you may want to re-think that in relation to how well he *played* the "bucket shops"...
oildaytrader
Senior member
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BSD, your reference to Livermore, you may want to re-think that in relation to how well he *played* the "bucket shops"...
While I am in the mood , the rest of the I G traders make their money scamming noobs with EXPERT ADVISORS from the various internet sites.
stevespray
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At a glance (and I haven’t read the entire thread) your case appears to be quite a complex one from a legal standpoint.
In my opinion you are going to have to divide your case into two clear areas. Firstly, that the firm has mistreated you, not acted in accordance with T&Cs or acted unfairly in its dealings with you.
Secondly you would then have to address the matter of liability with regard to the debt.
When a firm enters a spread bet with you it becomes legally binding on both you and the firm. It is very unlikely that you will succeed with a generalisation like ‘The Firm rigs the odds by messing about with execution’. You are going to have to drill down and provide actual instances where this happened and these will have to be based on actual events which you can back up. Once you can show these ‘events’ you can show how a firm could potentially gain an advantage over you.
If a firm pursues you for money (liability hearing) then the court may not have the ability to deal with your complex defence based around your claim that the alleged debt occurred due to mistreatment of some kind. The court will simply see that you placed the bets and, as a result, you owe the resulting debt. In simple terms; as soon as the trades are on your account they are binding.
If you wait for the firm to act then it could be too late as the court would be justified in asking why you didn’t challenge the firm sooner given that the losses were built up over a period of time (and one assumes a series of trades) rather than just one single trade.
It is hard to see how you can challenge the firm unless you have specific evidence regarding individual bets. The FOS will only look at cases which are based on facts rather than generalisations regarding dealing practices (even if those practices clearly benefit a particular firm).
Even though, on the face of it, your complaint does have mileage you’re going to struggle to build a decent case. In my opinion certain firms do indeed have dealing practices which favour them over their client – the problem is that you are going to struggle to get someone who is not familiar with market related issues to understand this (FSA / FOS included).
Steve.
In my opinion you are going to have to divide your case into two clear areas. Firstly, that the firm has mistreated you, not acted in accordance with T&Cs or acted unfairly in its dealings with you.
Secondly you would then have to address the matter of liability with regard to the debt.
When a firm enters a spread bet with you it becomes legally binding on both you and the firm. It is very unlikely that you will succeed with a generalisation like ‘The Firm rigs the odds by messing about with execution’. You are going to have to drill down and provide actual instances where this happened and these will have to be based on actual events which you can back up. Once you can show these ‘events’ you can show how a firm could potentially gain an advantage over you.
If a firm pursues you for money (liability hearing) then the court may not have the ability to deal with your complex defence based around your claim that the alleged debt occurred due to mistreatment of some kind. The court will simply see that you placed the bets and, as a result, you owe the resulting debt. In simple terms; as soon as the trades are on your account they are binding.
If you wait for the firm to act then it could be too late as the court would be justified in asking why you didn’t challenge the firm sooner given that the losses were built up over a period of time (and one assumes a series of trades) rather than just one single trade.
It is hard to see how you can challenge the firm unless you have specific evidence regarding individual bets. The FOS will only look at cases which are based on facts rather than generalisations regarding dealing practices (even if those practices clearly benefit a particular firm).
Even though, on the face of it, your complaint does have mileage you’re going to struggle to build a decent case. In my opinion certain firms do indeed have dealing practices which favour them over their client – the problem is that you are going to struggle to get someone who is not familiar with market related issues to understand this (FSA / FOS included).
Steve.
B
Black Swan
Steve, don't waste your time with a well thought out response, he's a bitter troll with an agenda. His only 'success' with this rant will be (due to T2W's high Google ranking) scoring a goal in that search engine. The more content this thread has on it the higher it'll rank..
Well the troll is being taken to bankruptcy court and he is just looking to see if he can defend himself. Should I just roll over and die and say ''ok...here you are IG ..here's your money."..Or do I stand and fight. Black Swan would have been great in the war when the Germans were knocking at the door in Northern France!
This company is threatening to ruin my life with a bankruptcy!
B
Black Swan
BSD
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BSD, your reference to Livermore, you may want to re-think that in relation to how well he *played* the "bucket shops"...
That's definitely true enough mate.
Had to keep running from shop to shop though didn't he once he got the inevitable boot.
That musta kept him fit, healthy and on his toes though didn't it, so no harm done, and made him sit down and have a good think about how to make money on the real markets with the delays from floor to broker they had back then.
Really makes me wonder why he didn't do what most of us would have done in those days, trade from the floor.
That's sthg I've always wondered about, as he'd clearly identified the problem.
That's definitely true enough mate.
Had to keep running from shop to shop though didn't he once he got the inevitable boot.
That musta kept him fit, healthy and on his toes though didn't it, so no harm done, and made him sit down and have a good think about how to make money on the real markets with the delays from floor to broker they had back then.
Really makes me wonder why he didn't do what most of us would have done in those days, trade from the floor.
That's sthg I've always wondered about, as he'd clearly identified the problem.
I don't know how much that helped him. Eventually he committed suicide.
gedward3
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Really makes me wonder why he didn't do what most of us would have done in those days, trade from the floor.
I thought he did at 1 point but he lost money as he wasnt used to trading the
prices on the floor. Wasnt he used to the prices as they went to the bucket
shops with delays as he used to keep score for them when he was younger.
Maybe wrong as its been a while since i read it.
I thought he did at 1 point but he lost money as he wasnt used to trading the
prices on the floor. Wasnt he used to the prices as they went to the bucket
shops with delays as he used to keep score for them when he was younger.
Maybe wrong as its been a while since i read it.
