Recent content by igeurchfloss

Also.....I would say it's best to find an FCA regulated broker......but those who used IG Group found out sometimes regulation means nothing - see this link Seems like FCA making a little noise....maybe too late? Reuters The Guardian Bloomberg ...and a recent report from the Central Bank of...

Any updates on saxo and eurchf.? I hear saxo have been making side deals with clients to drop cases.

You should see how IG screwed over 300+ clients on the SNB floor removal on Jan15th. The FOS seem to be in IG'S back pocket. Getting the FCA to investigate is like getting blood from a stone. See this site www.negativebalancewithigindexoneurchf.yolasite.com And Google ig index are cheats...

Offers to settle out of court at 2/3 reduction of negative balance.

Well.....in the background it looks like Saxo offering settlements!

In addition, if the FOS and IG agree that 1.0249 is more reflective of the underlying price, then how on earth were people being filled by brokers anywhere from 1.19 down to 1.06? This is an absolute farce and I cannot believe the regulators are turning a blind eye

So with regards to the recent (Jan 2015) incident on the EURCHF, the FOS agreed that IG acted within it's terms and conditions. So how is it that they had to change a client's price from 0.9250 to 1.0249 ? Surely if IG were right, then there is no need for any changes...

Check their execution policy statement and see if they mention this. Under FCA rules they must have a clear execution policy so that clients know how IG works for clients.

= IG Group / Saxo Bank / and the others that stung clients in eurchf back in Jan

Spread betting firms such as IG Group can do what they want. It is a light touch regulated market in the UK hence so many bucketshops that have left the US have set up here. New article on IG...

Things are different now. When it is in the best interest of IG to use the underlying price vs their own, they do. See the stories recently on eurchf losses at IG. IG are a market maker when it suits them.

You know saxo were still providing liquidity in its capacity as a liquidity provider whilst the eurchf was dropping!

@moka2 - Good question....and to most its a lesson learnt. For those that can stand up again after crippling losses with IG, I'm sure they will stick to the ECN guys with no dealing desks.

Two more stories...I believe based on the Reuters one http://news.forexlive.com/!/ig-traded-its-own-account-for-7-minutes-after-snb-cap-was-removed-says-ig-clients-20150604 http://www.forexcrunch.com/snbomb-disturbing-information-on-ig-and-alpari-uk/

http://www.reuters.com/article/2015/06/04/swiss-franc-ig-idUSL5N0Y93M020150604 Article just out.... IG traded ahead of the clients that got filled at 0.9250 and at better prices. They initially said they had no liquidity for first 10 mins