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IG
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- stuartrichardson
- 1.00 star(s)
IG are a sly Market Maker - continually changing the goalposts
I wish I could say something nice about IG Markets, but I can't... maybe I can say a few things.
I have been trading full time now for over 5 years. The first broker I used was IG. They were a very good platform to learn on due to the very small contract sizes. The prorealtime charts are also excellent. Once I started making money I openned an account with MF Global. They were great until they went under. Having lost most of my trading capital I went back to trading with IG Markets, afraid of putting my money into another broker and I perpetuated with them for too long.
I have had many instances where trades have been rejected.... almost all of them highly profitable trades. Speaking with the staff at the help desk they came to the conclusion that it might have been a "flash error". Ok, I gave them the benefit of the doubt. So my solution to the "flash error" was to write my own trading application built on top of their REST API. Using this, I thought great... no more errors in getting my trades submitted. But guess what happened??? you guessed it, rejected trades. I rang up to find out why the trade was rejected and the reason was: "The markets were too volatile, so we turned off the ability to trade in the API". "You what" I said... You have got to be kidding me. IG has cost me at least $20000 in missed trading opportunities where I pressed the button... most of them were very profitable within 5 minutes. If I traded the real futures then every single one of them would have gone through.
It seems to me that the moment they detect that there is a situation where they are going to lose money, then they attempt to stitch it up. This kind of behaviour I find intolerable... so off I go to a real broker, not a broker that has no interest in me winning my trades.
So if you are considering IG Markets, my advice to you is, train yourself up with very small amounts of money... and once you start making money consistently then stop using them.
I wish I could say something nice about IG Markets, but I can't... maybe I can say a few things.
I have been trading full time now for over 5 years. The first broker I used was IG. They were a very good platform to learn on due to the very small contract sizes. The prorealtime charts are also excellent. Once I started making money I openned an account with MF Global. They were great until they went under. Having lost most of my trading capital I went back to trading with IG Markets, afraid of putting my money into another broker and I perpetuated with them for too long.
I have had many instances where trades have been rejected.... almost all of them highly profitable trades. Speaking with the staff at the help desk they came to the conclusion that it might have been a "flash error". Ok, I gave them the benefit of the doubt. So my solution to the "flash error" was to write my own trading application built on top of their REST API. Using this, I thought great... no more errors in getting my trades submitted. But guess what happened??? you guessed it, rejected trades. I rang up to find out why the trade was rejected and the reason was: "The markets were too volatile, so we turned off the ability to trade in the API". "You what" I said... You have got to be kidding me. IG has cost me at least $20000 in missed trading opportunities where I pressed the button... most of them were very profitable within 5 minutes. If I traded the real futures then every single one of them would have gone through.
It seems to me that the moment they detect that there is a situation where they are going to lose money, then they attempt to stitch it up. This kind of behaviour I find intolerable... so off I go to a real broker, not a broker that has no interest in me winning my trades.
So if you are considering IG Markets, my advice to you is, train yourself up with very small amounts of money... and once you start making money consistently then stop using them.
- LouiseR
- 4.00 star(s)
Small investor, but not encountered any problems
I have had an IG account for a few years. I do not invest huge sums, which is perhaps why I have not suffered from the same issues listed in the reviews here. I have traded without being 'spiked out' and have made deposits and withdrawals without issue. I recently traded using their binary options exchanges (not the sprint markets) and found them an interesting alternative - though not profitable for me! For info, I generally trade stocks, and have positions open for a couple of weeks / months. So again, possibly as a 'longer term' trader, I am less likely to be impacted by some of the problems noted above.
I have had an IG account for a few years. I do not invest huge sums, which is perhaps why I have not suffered from the same issues listed in the reviews here. I have traded without being 'spiked out' and have made deposits and withdrawals without issue. I recently traded using their binary options exchanges (not the sprint markets) and found them an interesting alternative - though not profitable for me! For info, I generally trade stocks, and have positions open for a couple of weeks / months. So again, possibly as a 'longer term' trader, I am less likely to be impacted by some of the problems noted above.
- CityTrader
- 4.00 star(s)
Great trading house
To the OP I think you'll find IG don't trade in the USA due to American "gambling laws" Spread betting is gambling.
I have used IG on & off for some 25 years and never had a problem with them.
To the OP I think you'll find IG don't trade in the USA due to American "gambling laws" Spread betting is gambling.
I have used IG on & off for some 25 years and never had a problem with them.
- 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...
- universoforex
- 3.00 star(s)
Not the same problem for italian customers
I read so many negative comments, but I have never had problems with this broker. Although I admit that is not what we use most, and i didn't invest huge sums, which is perhaps why I haven't suffered from the same issues listed in the reviews here. Customer service is pretty quick, at least over here for Italian customers. As for the trading conditions (se here for IG trading condition for italian markets), you have always been respected. Here we IG is considered among the top 10 brokers on almost all the sites in the industry.
I read so many negative comments, but I have never had problems with this broker. Although I admit that is not what we use most, and i didn't invest huge sums, which is perhaps why I haven't suffered from the same issues listed in the reviews here. Customer service is pretty quick, at least over here for Italian customers. As for the trading conditions (se here for IG trading condition for italian markets), you have always been respected. Here we IG is considered among the top 10 brokers on almost all the sites in the industry.
- 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.
- sharon more
- 4.00 star(s)
best strategy for trading
what is the essence of trading when you don't profit. Have you been tossed around by cyber swindlers and scammers and above all amateur traders, making you lose money.that's what you get when you fail to let professionals trade for you. well, i found a strategy,which i have been using and it helped me regain my money i lost during trading and i made more profit. you too can regain your lost money and gain profit in a short time of two weeks. contact me [email protected] or [email protected]
what is the essence of trading when you don't profit. Have you been tossed around by cyber swindlers and scammers and above all amateur traders, making you lose money.that's what you get when you fail to let professionals trade for you. well, i found a strategy,which i have been using and it helped me regain my money i lost during trading and i made more profit. you too can regain your lost money and gain profit in a short time of two weeks. contact me [email protected] or [email protected]
- J2theFizzle
- 4.00 star(s)
Fairly solid, but stop losses questionable
was trading with and they are the biggest so fairly easy choice to go with. Pretty much everything meets expectations. Platform is stable enough and their spreads are pretty good. they have education online so can teach myself a few things. everything was going well then during the gbp flash crash in november I got stopped out of my trade pretty bad. I tried to complain about it but they refused point blank and no real customer service, just referred me to their terms and conditions, so I decided to look for a new provider and after a decent searchi think I have decided on XTB. All in all I think IG are ok, just didn't like they way they handled my complaint. Hopefully better luck with XTB.
was trading with and they are the biggest so fairly easy choice to go with. Pretty much everything meets expectations. Platform is stable enough and their spreads are pretty good. they have education online so can teach myself a few things. everything was going well then during the gbp flash crash in november I got stopped out of my trade pretty bad. I tried to complain about it but they refused point blank and no real customer service, just referred me to their terms and conditions, so I decided to look for a new provider and after a decent searchi think I have decided on XTB. All in all I think IG are ok, just didn't like they way they handled my complaint. Hopefully better luck with XTB.
- 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.
- Soscini
- 4.00 star(s)
Competitive pricing, nice research part
I don't trade with them but others might find useful the Brokerchooser IG Review -> http://brokerchooser.com/broker-reviews/ig-review
They were pretty positive about IG although the company has it's weak points like the too overcrowded platform and only leveraged product availability.
I don't trade with them but others might find useful the Brokerchooser IG Review -> http://brokerchooser.com/broker-reviews/ig-review
They were pretty positive about IG although the company has it's weak points like the too overcrowded platform and only leveraged product availability.
- farzin
- 5.00 star(s)
IG Index Spread betting
I've used IG Index for last 6 months. They old trading platform wasn't impressive at all. But they have launched a new java based platform since 7th January. It is very good. Apart from realtime execution, you can have access to DowJones news, a very good charting (unfortunatlly with 15 minutes delay) but it is still very useful for historical charts and for people who do not have access to other chartings like CQG, Reuters graph ...
They spread between popular stocks are very narrow and in a big size trades it is better than trading CFDs or stocks.
I would recomend it to all.
I've used IG Index for last 6 months. They old trading platform wasn't impressive at all. But they have launched a new java based platform since 7th January. It is very good. Apart from realtime execution, you can have access to DowJones news, a very good charting (unfortunatlly with 15 minutes delay) but it is still very useful for historical charts and for people who do not have access to other chartings like CQG, Reuters graph ...
They spread between popular stocks are very narrow and in a big size trades it is better than trading CFDs or stocks.
I would recomend it to all.
- spreadbet
- 5.00 star(s)
IG INDEX
The trading platform is very easy to use, I have found it to be 100% reliable. If it has one drawback then it has to be the very limited amount of tick data shown in it's chart. Their quoted prices are pretty much in line with the actual market prices.
Orders are filled very quickly indeed and confirmations come through in an instant. However even if there is a delay of a few seconds the price you get is exactly the price where you pressed buy/sell, there is no re-quoting.
Control risk bets are available and the cost is included into the initial spread, the only drawback is I have not found a method of moving stops to protect profit.
Telephone support is polite, professional and prompt. As for training I have not attended any of their seminars but I intend to in the near future.
Value for money, all charges are taken on the opening position, therefore I know exactly what I must expect my trade to do before I make break eave/profit.
The trading platform is very easy to use, I have found it to be 100% reliable. If it has one drawback then it has to be the very limited amount of tick data shown in it's chart. Their quoted prices are pretty much in line with the actual market prices.
Orders are filled very quickly indeed and confirmations come through in an instant. However even if there is a delay of a few seconds the price you get is exactly the price where you pressed buy/sell, there is no re-quoting.
Control risk bets are available and the cost is included into the initial spread, the only drawback is I have not found a method of moving stops to protect profit.
Telephone support is polite, professional and prompt. As for training I have not attended any of their seminars but I intend to in the near future.
Value for money, all charges are taken on the opening position, therefore I know exactly what I must expect my trade to do before I make break eave/profit.
- reactor
- 3.00 star(s)
laughable
the truth is IG has the biggest spreads in the business, and it's no surprise your order is executed immediately as a result. coupled with them skewing the prices so in a worse case scenario you have to find the spread plus two points all multiplied by two. a 6 point spread quickly becomes a 16 point spread.
their software is more intuitive than deal4free's and their support is fine, but then again you would expect this as they are slowly fleecing you of your hard earned money.
if you love risk and losing money then this company will suit you perfectly.
the truth is IG has the biggest spreads in the business, and it's no surprise your order is executed immediately as a result. coupled with them skewing the prices so in a worse case scenario you have to find the spread plus two points all multiplied by two. a 6 point spread quickly becomes a 16 point spread.
their software is more intuitive than deal4free's and their support is fine, but then again you would expect this as they are slowly fleecing you of your hard earned money.
if you love risk and losing money then this company will suit you perfectly.