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IG
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- SunnySideUp
- 1.00 star(s)
Not really
I was registering to IG a while ago, so many "good" advertising in some social communities and my wish to have at least one CFD Broker which I could use beside Futures and Options I do with other brokers. After Marketindex was closed IG should be a replacement, at least I hoped so
In the end I transferred money there but still testing out the plattform, trying to adjust the UI and get a pragmatic workflow with their application. Of course one shouldn't compare the UI with standalone applications but I was shocked how simple and not adjustable most things were. Most paid and free sites I know are way more flexible and usable. Not to forget the history of data, sometimes way to short (just a few days or even not this) to get an overview. But maybe trading within two or better three timeframes I shouldn't expect. If that would the only thing, great but it was one of many things keeping me away from really using the platform for daily trading. It was quite irritating that so many people I knew in one forum (not here) were using IG so intensively, actually people who knew what they were talking about. Having used Marketindex (with the Oanda-Platform underneath) a long time and CMC and more the experience with IG was more than disappointing. Last but not least the market spread even during low volatility was partly on a shocking high level. Many times I asked myself why the hell should I pay that much knowing so many other brokers with usable UI and compelling costs?
Many times I tried again and again, so many people can't be wrong with their decision for IG but the platform is not for serious and daily work and trading is way to expensive.
I was registering to IG a while ago, so many "good" advertising in some social communities and my wish to have at least one CFD Broker which I could use beside Futures and Options I do with other brokers. After Marketindex was closed IG should be a replacement, at least I hoped so
In the end I transferred money there but still testing out the plattform, trying to adjust the UI and get a pragmatic workflow with their application. Of course one shouldn't compare the UI with standalone applications but I was shocked how simple and not adjustable most things were. Most paid and free sites I know are way more flexible and usable. Not to forget the history of data, sometimes way to short (just a few days or even not this) to get an overview. But maybe trading within two or better three timeframes I shouldn't expect. If that would the only thing, great but it was one of many things keeping me away from really using the platform for daily trading. It was quite irritating that so many people I knew in one forum (not here) were using IG so intensively, actually people who knew what they were talking about. Having used Marketindex (with the Oanda-Platform underneath) a long time and CMC and more the experience with IG was more than disappointing. Last but not least the market spread even during low volatility was partly on a shocking high level. Many times I asked myself why the hell should I pay that much knowing so many other brokers with usable UI and compelling costs?
Many times I tried again and again, so many people can't be wrong with their decision for IG but the platform is not for serious and daily work and trading is way to expensive.
- Sennerd
- 1.00 star(s)
Account application refused - lack of any logic.
I use prorealtime and really like it. I tried to join IG so that I could use prorealtime to read charts and execute with one platform but was refused due to lack of income and liquid assets. I do own two property's outright. It does leave a question mark about their ability to sufficiently manage their own risk. If they cannot stipulate the account size or leverage amount without also saying that you must earn a certain amount (clearly to keep the option open to retrieve losses) then they are not exactly offering a reassuring message.
To add: they then rang me a week later to ask me to complete my application - they had no record of themselves turning down my application. When the issue of not sufficient credit was explained I told them other brokers were not stipulating a liquid asset level as high as theirs but I was told this was not true. Sorry, but I have had accounts with Go Markets, FXCM and Dukascopy in the last year and always gave the same details - they were happy with the asset level and deposit level. I understand prorealtime is available with Interactive Brokers and a 5,000 Euro deposit. This would definitely be my preferred option to IG in this scenario. Failing that, I will happily continue with Dukascopy for execution.
I use prorealtime and really like it. I tried to join IG so that I could use prorealtime to read charts and execute with one platform but was refused due to lack of income and liquid assets. I do own two property's outright. It does leave a question mark about their ability to sufficiently manage their own risk. If they cannot stipulate the account size or leverage amount without also saying that you must earn a certain amount (clearly to keep the option open to retrieve losses) then they are not exactly offering a reassuring message.
To add: they then rang me a week later to ask me to complete my application - they had no record of themselves turning down my application. When the issue of not sufficient credit was explained I told them other brokers were not stipulating a liquid asset level as high as theirs but I was told this was not true. Sorry, but I have had accounts with Go Markets, FXCM and Dukascopy in the last year and always gave the same details - they were happy with the asset level and deposit level. I understand prorealtime is available with Interactive Brokers and a 5,000 Euro deposit. This would definitely be my preferred option to IG in this scenario. Failing that, I will happily continue with Dukascopy for execution.
- 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!
- thomexc
- 1.00 star(s)
If you are wise Stay Away!
Be very careful using this broker for spread betting.
It seem widely recommended, from my experience instead I could say there are a lot of suspicious behaviour around it.
Spreads widen disproportionately on occasion (as much as 3%), slippage is another huge component (I have been closing positions when showing an amount but when cash out the value was a little lower, always) and finally position closed microscopically with loss several times, when the price of other providers did not go there either in buy or sell.
I have the feeling your battle is not just against the market but against the broker too.
Be very careful using this broker for spread betting.
It seem widely recommended, from my experience instead I could say there are a lot of suspicious behaviour around it.
Spreads widen disproportionately on occasion (as much as 3%), slippage is another huge component (I have been closing positions when showing an amount but when cash out the value was a little lower, always) and finally position closed microscopically with loss several times, when the price of other providers did not go there either in buy or sell.
I have the feeling your battle is not just against the market but against the broker too.
- Greed Is Good
- 1.00 star(s)
Avoid using for Binaries its a bucket shop more you win the more they want you to go away!!!
Avoid its a bucket shop for Binaries. They do not like winners. The favourite way to make you lose your money is they tamper with the execution. I am talking about Binaries here where speed of trade execution is everything.
Your losing trades will nearly always without fail get accepted. But when it comes time to Close the trade to take your profits this is where it becomes obvious they are tampering. You either get a long delay where you cannot do anything while they manually examine the price to see if its moving in their favour or you get a rejection then the market has moved away so you either lose money or by the time you try again the binary has expired or got within 30 secs of the expiry so you cannot do anything.
This has been going on for well over a decade now but as Binaries are not a regulated financial instrument there is nothing you can do except avoid using IG Index. Shame the FCA do not force them to state the timestamp accepted/rejected & delay time in a loggable format so the customer has absolute proof. This would then make the underhand practise go away as you can prove it so they would not bother trying that anymore!!
Shame as everything else on their trading platform is superior to the other offerings I do not even think they would lose much if they did allow instant execution as it would be made up for by the volume of customers they would attract & someone will always lose to guarantee their profits when they get overconfident & or the tight spread causes a misjudgement on the price action required!
I have used them on/off for well over a decade nothing ever changes either. Also like others have said in their reviews here they tamper with large winning positions so you appear to either lose it all & or they somehow change your pricing data so you see on their trading platform such a drastic price movement you close either with a loss or greatly reduced profit!
I am not talking small amounts of money either I have been up over 14K on a single trade then due to them manipulating my price data its dropped to 1.4K in the blink of an eye & lurched into negative a few times but as soon as I closed the position their underlying shot back up to the true price on the open market costing me well over 12K!!
You see underhand tactics they have the playbook as they wrote it you cannot possibly beat them over time they will wipe you out & put you into serious debt if you let them!
Avoid its a bucket shop for Binaries. They do not like winners. The favourite way to make you lose your money is they tamper with the execution. I am talking about Binaries here where speed of trade execution is everything.
Your losing trades will nearly always without fail get accepted. But when it comes time to Close the trade to take your profits this is where it becomes obvious they are tampering. You either get a long delay where you cannot do anything while they manually examine the price to see if its moving in their favour or you get a rejection then the market has moved away so you either lose money or by the time you try again the binary has expired or got within 30 secs of the expiry so you cannot do anything.
This has been going on for well over a decade now but as Binaries are not a regulated financial instrument there is nothing you can do except avoid using IG Index. Shame the FCA do not force them to state the timestamp accepted/rejected & delay time in a loggable format so the customer has absolute proof. This would then make the underhand practise go away as you can prove it so they would not bother trying that anymore!!
Shame as everything else on their trading platform is superior to the other offerings I do not even think they would lose much if they did allow instant execution as it would be made up for by the volume of customers they would attract & someone will always lose to guarantee their profits when they get overconfident & or the tight spread causes a misjudgement on the price action required!
I have used them on/off for well over a decade nothing ever changes either. Also like others have said in their reviews here they tamper with large winning positions so you appear to either lose it all & or they somehow change your pricing data so you see on their trading platform such a drastic price movement you close either with a loss or greatly reduced profit!
I am not talking small amounts of money either I have been up over 14K on a single trade then due to them manipulating my price data its dropped to 1.4K in the blink of an eye & lurched into negative a few times but as soon as I closed the position their underlying shot back up to the true price on the open market costing me well over 12K!!
You see underhand tactics they have the playbook as they wrote it you cannot possibly beat them over time they will wipe you out & put you into serious debt if you let them!
- kubek
- 1.00 star(s)
Terrible customer service
I've been trying to set up a new account with IG for 3 weeks already, and it's still not done :-D. I can only imagine
how terrible is their customer service when you need to do something more serious, like withdraw funds for example...
I've been trying to set up a new account with IG for 3 weeks already, and it's still not done :-D. I can only imagine
how terrible is their customer service when you need to do something more serious, like withdraw funds for example...
- Joe6791
- 1.00 star(s)
Pathetic
I have been trying to setup a new account with IG also for the past 2-3 weeks. They are pathetic. It is painful in how incompetent they are and I am shocked they have any customers.
I agree with the comments below in that how can anyone trust that they would deal with a real issue with any priority and basic ability. I think mentally deranged chimps could do a better job.
I opened an account with a competitor around the same time and they actually called me and made sure everything was setup correctly and I was happy. I guess there are no bananas in their break room.
I have been trying to setup a new account with IG also for the past 2-3 weeks. They are pathetic. It is painful in how incompetent they are and I am shocked they have any customers.
I agree with the comments below in that how can anyone trust that they would deal with a real issue with any priority and basic ability. I think mentally deranged chimps could do a better job.
I opened an account with a competitor around the same time and they actually called me and made sure everything was setup correctly and I was happy. I guess there are no bananas in their break room.
- 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!
- greybox
- 1.00 star(s)
Use with caution
I have used IG for nearly a year - spreads and execution are dreadful. I entered a stop once which I could not manually overide when I saw my position was wrong....they executed at more than twice my stop limit of 30 pips...I threatened to report to FSA - in fact I filled in the forms and was ready to submit - IG gave me 12pips back - how generous.
Their spreads are not stable and can widen to 20 pips - I have watched them and seen my trading opportunities go to waste. If I'd gone to a casino at least I could have met some interesting people!
I have used IG for nearly a year - spreads and execution are dreadful. I entered a stop once which I could not manually overide when I saw my position was wrong....they executed at more than twice my stop limit of 30 pips...I threatened to report to FSA - in fact I filled in the forms and was ready to submit - IG gave me 12pips back - how generous.
Their spreads are not stable and can widen to 20 pips - I have watched them and seen my trading opportunities go to waste. If I'd gone to a casino at least I could have met some interesting people!
- vergis92
- 1.00 star(s)
Not good
There are better firms such as findspreads, wordspreads, and capitalspreads, avoid deal4free.com igindex.com
igindex sales team actually know the difficulties of first time traders and shortfalls of their system, they refused to open me an account in order to protect me, they did reveal the real risks of spread betting and that it can make me broke. They don't allow you to open an account unless you are working full time, good advice on one hand. I suggest finspreads.com betting as little as 1p for all first timers.
Bad fills are a reallity not only with igindex but with deal4free.com too, bad fills, slipage, unexecuted orders, all become apparent on big stakes. deal4free also move the spread to your disadvantage for stakes over 20! These facts become apparent on big stakes only!
Don't be ready to give a broker a good rating based on trading with stakes under a few .
There are better firms such as findspreads, wordspreads, and capitalspreads, avoid deal4free.com igindex.com
igindex sales team actually know the difficulties of first time traders and shortfalls of their system, they refused to open me an account in order to protect me, they did reveal the real risks of spread betting and that it can make me broke. They don't allow you to open an account unless you are working full time, good advice on one hand. I suggest finspreads.com betting as little as 1p for all first timers.
Bad fills are a reallity not only with igindex but with deal4free.com too, bad fills, slipage, unexecuted orders, all become apparent on big stakes. deal4free also move the spread to your disadvantage for stakes over 20! These facts become apparent on big stakes only!
Don't be ready to give a broker a good rating based on trading with stakes under a few .
- NotQuiteRandom
- 1.00 star(s)
Not a fan...
I have used IG on and off for 7 years but will not continue to do so.
Their service has always been shoddy when I have had a problem and they recently did me out of a large sum on a non-guaranteed stop.
I had a stop on cable and the market moved about 50 points in approx 2 mins. My stop was hit but I was taken out 40 points below the stop level. There was no gap (cable rarely gaps that far) and there were over a dozen ticks between the points.
When I called to point out that the difference between my stop and the level they took me out at was several grand apart I got some dopey dealer offering to put me through to the FX desk. The FX desk just said 'well, that is where we got out'.
I fail to see why their slow, and presumably manual, hedging should cost me so much money.
I think that the new management must be letting things slip.
Poor show - have emptied my account and spread it across a few competitors.
I have used IG on and off for 7 years but will not continue to do so.
Their service has always been shoddy when I have had a problem and they recently did me out of a large sum on a non-guaranteed stop.
I had a stop on cable and the market moved about 50 points in approx 2 mins. My stop was hit but I was taken out 40 points below the stop level. There was no gap (cable rarely gaps that far) and there were over a dozen ticks between the points.
When I called to point out that the difference between my stop and the level they took me out at was several grand apart I got some dopey dealer offering to put me through to the FX desk. The FX desk just said 'well, that is where we got out'.
I fail to see why their slow, and presumably manual, hedging should cost me so much money.
I think that the new management must be letting things slip.
Poor show - have emptied my account and spread it across a few competitors.
- Paulds11
- 1.00 star(s)
Aviod!! Sharks at work
Ruthless skulduggery will fleece the uninitiated and green traders quicker than you can learn to avoid the platform with delays in getting back to you, platform freezes, distracting binery bets which are incredible fun but dont belong in an environment where making money should be a serious goal.. You are trading against a bookie.. you are not gaining access to the markets through a broker so be on guard.. Ultimately I became so fed up with the descrepancies between prices shown and prices represented from solid dependable sources that the only option I had was to stop using spreadbetting firms altogether... add to all that lockups, lockouts, freezes and graphs that are frankly weak and inacurate and youll agree that they must make a lot of money.. question is are you the mug from whom they will make it?... PS & dont even consider day Trading using IG let alone any other spreadbetting firm.. step away from the download take yourself more seriously.. its your money..
Ruthless skulduggery will fleece the uninitiated and green traders quicker than you can learn to avoid the platform with delays in getting back to you, platform freezes, distracting binery bets which are incredible fun but dont belong in an environment where making money should be a serious goal.. You are trading against a bookie.. you are not gaining access to the markets through a broker so be on guard.. Ultimately I became so fed up with the descrepancies between prices shown and prices represented from solid dependable sources that the only option I had was to stop using spreadbetting firms altogether... add to all that lockups, lockouts, freezes and graphs that are frankly weak and inacurate and youll agree that they must make a lot of money.. question is are you the mug from whom they will make it?... PS & dont even consider day Trading using IG let alone any other spreadbetting firm.. step away from the download take yourself more seriously.. its your money..
- hairyman
- 1.00 star(s)
not so great
have used ig intermittently, have a good platform but very poor service afterwards. they will change spreads always to your disadvantage, can often be up to 15 points diff between price shown and the one actually given to you when you have placed an order
have used ig intermittently, have a good platform but very poor service afterwards. they will change spreads always to your disadvantage, can often be up to 15 points diff between price shown and the one actually given to you when you have placed an order
- narasimhamax
- 1.00 star(s)
Price difference
Much differnce between the price shown and the price given after execution
Much differnce between the price shown and the price given after execution
- 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
- 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.