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IG
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- cguevara
- 1.00 star(s)
Trade with a non market maker broker, they take a commission, nothing more, or at least, trade with a broker that will not try to take 100 or 200 times the money you can afford to lose.
IG Markets is market maker on his the CFD.
So, they manage their prices on their products.
IG Markets chases negatives balances of their client. In 5 minutes, they can claim you 100 or 200 times the money you can afford to lose.
Without stop loss, you take an enormous risk to finally lose (potentially 100 or 200 times your balance account), it's obvious.
With stop loss :
When you win, you can see on forums many people complaining about stop orders executed, while the real underlying only went several points away !!
When you lose, they will not execute your stop order if they cannot trade a hedge on their side !! For example, the EUR/CHF quoted more than 1.17 one minute (which already is a very long time) after the PEG removal, but they finally executed the orders at 0.925 !!
And after this "treatment" of your positions, they will go after you to take the negative balance on your account (potentially 100 or 200 times the initial balance of your account), which is : the loss they managed (by not executing your stop order) !!!
My advice : Trade with a non market maker broker, they take a commission, nothing more, or at least, trade with a broker that will not try to take 100 or 200 times the money you can afford to lose.
This last point is very easy, just see the list of brokers that forgave negative balances of their clients after the EUR/CHF PEG removal.
IG Markets is market maker on his the CFD.
So, they manage their prices on their products.
IG Markets chases negatives balances of their client. In 5 minutes, they can claim you 100 or 200 times the money you can afford to lose.
Without stop loss, you take an enormous risk to finally lose (potentially 100 or 200 times your balance account), it's obvious.
With stop loss :
When you win, you can see on forums many people complaining about stop orders executed, while the real underlying only went several points away !!
When you lose, they will not execute your stop order if they cannot trade a hedge on their side !! For example, the EUR/CHF quoted more than 1.17 one minute (which already is a very long time) after the PEG removal, but they finally executed the orders at 0.925 !!
And after this "treatment" of your positions, they will go after you to take the negative balance on your account (potentially 100 or 200 times the initial balance of your account), which is : the loss they managed (by not executing your stop order) !!!
My advice : Trade with a non market maker broker, they take a commission, nothing more, or at least, trade with a broker that will not try to take 100 or 200 times the money you can afford to lose.
This last point is very easy, just see the list of brokers that forgave negative balances of their clients after the EUR/CHF PEG removal.
- Aftereight
- 1.00 star(s)
Passing market losses to their clients
It appears that they are simply betting against their clients in every way possible, hiding behind their terms & conditions. IG seems to treat their clients in any way they like. If they are losing money in their market positions or something just doesn't work out for them, it seems that they can simply pass the losses onto their customers. If they make money, well, it is good trading on their part and naturally keep the profits for themselves. They don't execute your limit orders when the market goes to your limit order (by showing wide prices) or give you any improvement (if market quickly moves through your limit order), but they would happily pass you an unlimited slippage on your stop order when it suits them... They are not really providing a trading service, they simply appear to be chasing your cash. Stay away...!!
It appears that they are simply betting against their clients in every way possible, hiding behind their terms & conditions. IG seems to treat their clients in any way they like. If they are losing money in their market positions or something just doesn't work out for them, it seems that they can simply pass the losses onto their customers. If they make money, well, it is good trading on their part and naturally keep the profits for themselves. They don't execute your limit orders when the market goes to your limit order (by showing wide prices) or give you any improvement (if market quickly moves through your limit order), but they would happily pass you an unlimited slippage on your stop order when it suits them... They are not really providing a trading service, they simply appear to be chasing your cash. Stay away...!!
- igeurchfloss
- 1.00 star(s)
Will let you down when you need them the most
Take a recent example.... EURCHF move. They did not react for ten minutes. They missed all volume at semidecent levels and filled clients with a 2600 point slippage. Unlike some competitors, they are chasing negative balances.
Take a recent example.... EURCHF move. They did not react for ten minutes. They missed all volume at semidecent levels and filled clients with a 2600 point slippage. Unlike some competitors, they are chasing negative balances.
- donttrustno1anymore
- 5.00 star(s)
I got mugged...
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Coincidence or "Extremely Unfortunate" as the broker put it on the phone... You decide...
[img][img][img][img]
Coincidence or "Extremely Unfortunate" as the broker put it on the phone... You decide...
- hairyhands
- 1.00 star(s)
Where Amateur Traders Go To Die
The amateurs who roll up with 5-10K accounts are hoovered up in no time, in fact if you can't afford an account manager then 'forget about it'. My advice is, take your 10k to Vegas and lose it there, at least they will give you free drinks on the way down. There's a reason you don't pay taxes on Spread Bet accounts, it's because the Inland Revenue is to busy laughing from behind the sofa.
The amateurs who roll up with 5-10K accounts are hoovered up in no time, in fact if you can't afford an account manager then 'forget about it'. My advice is, take your 10k to Vegas and lose it there, at least they will give you free drinks on the way down. There's a reason you don't pay taxes on Spread Bet accounts, it's because the Inland Revenue is to busy laughing from behind the sofa.
- robbier
- 2.00 star(s)
Robbed
I placed a position with IG Gold in 1 hour it showed a profit $6250 then started to go down so I took a profit $$5250-5150+/- the position closed the next day on my statement said this never happened it closed out and I lost 250+/- sterling could not belevie it anyone eles had problems like this?
I placed a position with IG Gold in 1 hour it showed a profit $6250 then started to go down so I took a profit $$5250-5150+/- the position closed the next day on my statement said this never happened it closed out and I lost 250+/- sterling could not belevie it anyone eles had problems like this?
- westonweston
- 1.00 star(s)
Be careful
I have no dought but they run against you .If you place a stop, they run to the stop.
Like a casino when you start you win, then everything changes , and you are taken to the clener .
Most of those ganecy and broker they use the same software all linked to eachother, they run super computer software that ordinary person does not know .
They can run the price down until all traders are clened up ! They earn commission for this , two commission, yor money and the bank stock money !
Those firms they appear to be regulated, yes we know they are regulated by crooks !
Of course any casino has his winner otherwise no one would want to go there ! its the same here ,
on 100 traded tickets going long , 97 % of them the rpice go down . It shows how verything its very well rigged against .
Save your money !
I have no dought but they run against you .If you place a stop, they run to the stop.
Like a casino when you start you win, then everything changes , and you are taken to the clener .
Most of those ganecy and broker they use the same software all linked to eachother, they run super computer software that ordinary person does not know .
They can run the price down until all traders are clened up ! They earn commission for this , two commission, yor money and the bank stock money !
Those firms they appear to be regulated, yes we know they are regulated by crooks !
Of course any casino has his winner otherwise no one would want to go there ! its the same here ,
on 100 traded tickets going long , 97 % of them the rpice go down . It shows how verything its very well rigged against .
Save your money !
- bottomdollar
- 4.00 star(s)
See link in post to read about a big loss on Binary markets
I guess you just have to be very careful with the binary markets in general.. read here for a 500 loss on the binary markets
http://www.makemesomemoney.co.uk/lost-500-binary-markets/
I guess you just have to be very careful with the binary markets in general.. read here for a 500 loss on the binary markets
http://www.makemesomemoney.co.uk/lost-500-binary-markets/
- Black Jack
- 3.00 star(s)
Binary Option is not for me
My experience with IG's spread bet platform is pretty limited. Have you guys considered giving Capital Spreads, Accendo Markets, Saxo a go? Check if they offer the bets you want. I've been pleased with their spread betting platform , however I have never placed binary bets with them.
My experience with IG's spread bet platform is pretty limited. Have you guys considered giving Capital Spreads, Accendo Markets, Saxo a go? Check if they offer the bets you want. I've been pleased with their spread betting platform , however I have never placed binary bets with them.
- Bingo2233
- 1.00 star(s)
Same tricks
Beware the small print '...prices are indicative only'
Gave IG another chance with their DFBs as execution is good (provided you don't go in at market it almost mimics DMA, that's obviously the aim) and the platform has always been v.nice. But it's a mirage, watch for old tricks.
e.g. Nice EUR gap Sunday night open gave a quick 11 points, but they turned a blind eye to that as presumably there weren't many traders... or if I let paranoia get the better of me maybe that was just my price. But I don't mean it was a flash move up/down, I mean it was up for 30 mins or so with IG quoting 10 points off the mark and with a wildly fluctuating spread. If they were that blatant at peak times they'd be out of business.
Then tried them again, not because I suddenly trusted them but because I liked their deal-thru charts from ProRealTime, and this time suffered truly epic slippage. Which is bizarre as I don't believe these small bets are actually traded through the underlying markets. And they didn't do me the honour of adjusting my stops & limits accordingly, just money straight out of my account and into theirs.
Spoke to their customer service guy and he blathered on about how '...all trades go to the underlying market... well nearly all... well, some don't... well most go through... ok some are in-house' and that's all I needed to hear.
I don't trust any spreadbet co. from past experience so watch for the tiniest impropriety, I'll not get mugged again. So now just left with Prospreads so if they do something daft guess I'll have to get a proper job.
One point might seem harsh given everything else seems fine but you can either trust someone with your livelihood or you can't.
By the way, when you leave these clowns make sure you close your account and not just withdraw your funds. I read somewhere they'll charge an admin fee for inactive traders. So even when you've left they'll still try to bleed a little out your bank account.
Beware the small print '...prices are indicative only'
Gave IG another chance with their DFBs as execution is good (provided you don't go in at market it almost mimics DMA, that's obviously the aim) and the platform has always been v.nice. But it's a mirage, watch for old tricks.
e.g. Nice EUR gap Sunday night open gave a quick 11 points, but they turned a blind eye to that as presumably there weren't many traders... or if I let paranoia get the better of me maybe that was just my price. But I don't mean it was a flash move up/down, I mean it was up for 30 mins or so with IG quoting 10 points off the mark and with a wildly fluctuating spread. If they were that blatant at peak times they'd be out of business.
Then tried them again, not because I suddenly trusted them but because I liked their deal-thru charts from ProRealTime, and this time suffered truly epic slippage. Which is bizarre as I don't believe these small bets are actually traded through the underlying markets. And they didn't do me the honour of adjusting my stops & limits accordingly, just money straight out of my account and into theirs.
Spoke to their customer service guy and he blathered on about how '...all trades go to the underlying market... well nearly all... well, some don't... well most go through... ok some are in-house' and that's all I needed to hear.
I don't trust any spreadbet co. from past experience so watch for the tiniest impropriety, I'll not get mugged again. So now just left with Prospreads so if they do something daft guess I'll have to get a proper job.
One point might seem harsh given everything else seems fine but you can either trust someone with your livelihood or you can't.
By the way, when you leave these clowns make sure you close your account and not just withdraw your funds. I read somewhere they'll charge an admin fee for inactive traders. So even when you've left they'll still try to bleed a little out your bank account.
- devang129
- 1.00 star(s)
worst experience with IG
hii i am trading with IG and having a nightmare of an experience worst spread betting company in my opinion.. Initally they are good but once you start making money out of them then the real problem starts... trades get monitored and rejection rate increases .. especially binary and options trades... in binary trade even small size of 2 pound goes to the dealing desk and options trading is on dealer refferel...IG has all the products but when you start making money every trade is on a dealer refferel.. and every second trade gets rejected.. in my opinion one of the worst companies to spread bet with .. regards
hii i am trading with IG and having a nightmare of an experience worst spread betting company in my opinion.. Initally they are good but once you start making money out of them then the real problem starts... trades get monitored and rejection rate increases .. especially binary and options trades... in binary trade even small size of 2 pound goes to the dealing desk and options trading is on dealer refferel...IG has all the products but when you start making money every trade is on a dealer refferel.. and every second trade gets rejected.. in my opinion one of the worst companies to spread bet with .. regards
- Chrisdes
- 1.00 star(s)
New Low Spreads - until the market opens!
Noticed that IG Index increased their spreads on one US stock form 10 to 136 when the market opened. However, on 4th Jan they increased the spread on a large S&P500 stock from 13 to 517! Don't be conned by the low spreads statements!
Noticed that IG Index increased their spreads on one US stock form 10 to 136 when the market opened. However, on 4th Jan they increased the spread on a large S&P500 stock from 13 to 517! Don't be conned by the low spreads statements!
- LAURENCE0705
- 1.00 star(s)
THEY NEVER CHANGE!
THEY MOVE THE GOAL POSTS..THEY WILL NEVER CHANGE..
THEY MOVE THE GOAL POSTS..THEY WILL NEVER CHANGE..
- peakoil
- 4.00 star(s)
Much better nowadays than they used to be many years ago.
UPDATE: Spring 2013 - IG have recently & substantially increased their bet size minimums, for a great number of popular instruments; as a result of which, I would now recommend IG Index as being a far more appropriate choice for very well funded and experienced clients. Those new to spreadbetting, or with account sizes between a few hundred and a few thousand, really ought to open an account with at least one other spread bet company instead. Having said that, Please DYOR! & here follows my original review.
-
Due to the vastly increased competition since just before the early 2000's when I first joined Ig Index, I do believe that they have in the past few years finally got their act together. That is, they are now a spread bet company which I would at last very much recommend. Over a decade ago, when I'd first joined, they were nowhere near as professional in their dealings with customers: All kinds of shenanigans occurred in earlier days as you can most surely read from the other reviews. In fact, because I despised the way they messed around in the late nineties and early 2000's, with stops etc., I used to be primarily a customer of CMC spreadbet; however, since CMC dropped futures bets in oil and gold, I've decided to re-try Ig Index again - a year or so ago, after a long break. And, I'm very pleased to say that in the past year they've been an excellent company with whom to spread bet. Indeed, they used to be scoundrels who'd fleece you on stops etc., but all that has seemed to change recently - again I'm sure that industry competition has forced them to clean up their act. They have quite possibly one of the widest range of instruments available. Their trading platform works wonderfully, and I particularly love their text message alerts for market prices - whereby you can set the prices you wish to be alerted of, and when they hit, your phone will tell you, courtesy of Ig Index. Brilliant - now that's something which is very useful that many other firms have yet to offer! Their spreads are, at last, often market leading. What's more, I've not experienced any issues with stop hunting - beyond that which ordinarily has occurred in the wider markets. Also they've recently introduced a 'price improvement' policy, which I can verify does work, of often giving clients a better fill price in a fast moving market. Now that's a very welcome policy! All in all, I am (at last!) a happy customer of Ig Index and I would most truthfully highly recommend them (but please do note that it's wise to have more than one spread betting account) whatever your experience of spread betting is. Lastly, I'm sorry to say that I can't say the same of CMC any more...
UPDATE: Spring 2013 - IG have recently & substantially increased their bet size minimums, for a great number of popular instruments; as a result of which, I would now recommend IG Index as being a far more appropriate choice for very well funded and experienced clients. Those new to spreadbetting, or with account sizes between a few hundred and a few thousand, really ought to open an account with at least one other spread bet company instead. Having said that, Please DYOR! & here follows my original review.
-
Due to the vastly increased competition since just before the early 2000's when I first joined Ig Index, I do believe that they have in the past few years finally got their act together. That is, they are now a spread bet company which I would at last very much recommend. Over a decade ago, when I'd first joined, they were nowhere near as professional in their dealings with customers: All kinds of shenanigans occurred in earlier days as you can most surely read from the other reviews. In fact, because I despised the way they messed around in the late nineties and early 2000's, with stops etc., I used to be primarily a customer of CMC spreadbet; however, since CMC dropped futures bets in oil and gold, I've decided to re-try Ig Index again - a year or so ago, after a long break. And, I'm very pleased to say that in the past year they've been an excellent company with whom to spread bet. Indeed, they used to be scoundrels who'd fleece you on stops etc., but all that has seemed to change recently - again I'm sure that industry competition has forced them to clean up their act. They have quite possibly one of the widest range of instruments available. Their trading platform works wonderfully, and I particularly love their text message alerts for market prices - whereby you can set the prices you wish to be alerted of, and when they hit, your phone will tell you, courtesy of Ig Index. Brilliant - now that's something which is very useful that many other firms have yet to offer! Their spreads are, at last, often market leading. What's more, I've not experienced any issues with stop hunting - beyond that which ordinarily has occurred in the wider markets. Also they've recently introduced a 'price improvement' policy, which I can verify does work, of often giving clients a better fill price in a fast moving market. Now that's a very welcome policy! All in all, I am (at last!) a happy customer of Ig Index and I would most truthfully highly recommend them (but please do note that it's wise to have more than one spread betting account) whatever your experience of spread betting is. Lastly, I'm sorry to say that I can't say the same of CMC any more...
- mrfigure
- 2.00 star(s)
Ig...be careful
As others have stated I think IG's trading platform is excellent, in fact, probably the best. However watch these guys. I built my trading account up to 21,500. The markets have shown some srength in recent days and with confidence opened a 200pp position on the germany 30 at 5596. I imagine many traders would have opened similar positions on the euros strongets economy to show some strength after hitting a prior support. So....IG decided to push the price down to take out all the stops, even when my account was significantly down, the strength in the german index was sufficient to allow the rade to continue. Anyway, IG pushed the price down so much, it wiped out the account.....now look where the german index is. Needless to say the account would now be showing 50,000 plus at the time of writing. IG knew they would be paying out alot of money on this index, so took the price down to take out all the stops. Be careful with this company.
As others have stated I think IG's trading platform is excellent, in fact, probably the best. However watch these guys. I built my trading account up to 21,500. The markets have shown some srength in recent days and with confidence opened a 200pp position on the germany 30 at 5596. I imagine many traders would have opened similar positions on the euros strongets economy to show some strength after hitting a prior support. So....IG decided to push the price down to take out all the stops, even when my account was significantly down, the strength in the german index was sufficient to allow the rade to continue. Anyway, IG pushed the price down so much, it wiped out the account.....now look where the german index is. Needless to say the account would now be showing 50,000 plus at the time of writing. IG knew they would be paying out alot of money on this index, so took the price down to take out all the stops. Be careful with this company.
- brettus
- 2.00 star(s)
Great Selection of markets run by rookies.
I can't help it. Their platform is great to look at. Their range of products is extensive and generally their fills are great until now.
It's a great platform and i will always have an account with them and it is my main broker for trading currently, but recently i don't know whether they changed their dealing system, but recently i've been rejected quite alot more when the market moves as little as 0.1 of a tick on 10 a point even on FX. It's just frustrating, because most of the time i don't care what the price is and i just want to be filled.
I think i am blacklisted though with them, so i don't know if everyone is experiencing this. It's still a great platform.
The problem with IG is that, there are like the clever kid in class who doesn't work hard and always gets C for effort but A for attainment. They are still the best and theres no real reason for them to reject trades.
Had a trade deleted today. No call, no email, no nothing. Shocking service. You can't expect much from them, given their terrible overpaid staff.
I can't help it. Their platform is great to look at. Their range of products is extensive and generally their fills are great until now.
It's a great platform and i will always have an account with them and it is my main broker for trading currently, but recently i don't know whether they changed their dealing system, but recently i've been rejected quite alot more when the market moves as little as 0.1 of a tick on 10 a point even on FX. It's just frustrating, because most of the time i don't care what the price is and i just want to be filled.
I think i am blacklisted though with them, so i don't know if everyone is experiencing this. It's still a great platform.
The problem with IG is that, there are like the clever kid in class who doesn't work hard and always gets C for effort but A for attainment. They are still the best and theres no real reason for them to reject trades.
Had a trade deleted today. No call, no email, no nothing. Shocking service. You can't expect much from them, given their terrible overpaid staff.
- Kennyboy
- 1.00 star(s)
IG Index is SCAM
When you join IG index, you make profits only until you reach 200 - 300% of your initial deposit. After this time, they start shafting you big time to get back all you made. If IG index is a woman, i'd stick a huge rod in her a-hole till she screams dead beech!
Beware all you rookies!
When you join IG index, you make profits only until you reach 200 - 300% of your initial deposit. After this time, they start shafting you big time to get back all you made. If IG index is a woman, i'd stick a huge rod in her a-hole till she screams dead beech!
Beware all you rookies!