CFD traders

[kmthor]

hi there
i have just read the 5000% thread and thought id post here about a few things that concern me rather than hijack there thread.

im in Australia and trade through IG markets, the above thread has sparked the few concerns

it was mentioned on more than one occasion that CFD traders like IG markets are in fact manipulating the market to stop people out of positions. this site here also has a few people saying the same thing

IG Markets Reviews | IG Markets Forex Ratings | IGMarkets.com reviews and ratings by Forex Peace Army

i have a few questions for people that have an account with IG markets

1. is my money safe in there account. has anyone had any trouble getting there money out
2. has anyone got any proof that they really do this?
3. it seems that a lot of the complaints are fairly old, have IG bucked up there principles
4. would it be overall safer to find a new broker (i trade indices)
5. i would appreciate peoples opinions of IG markets

km

 

[WallStreetHero]

i just sign up a real account with gft uk for cfds, so i hope not, i will ask them monday and let you know.

 

[raysor]

hi there
i have just read the 5000% thread and thought id post here about a few things that concern me rather than hijack there thread.

im in Australia and trade through IG markets, the above thread has sparked the few concerns

it was mentioned on more than one occasion that CFD traders like IG markets are in fact manipulating the market to stop people out of positions. this site here also has a few people saying the same thing

IG Markets Reviews | IG Markets Forex Ratings | IGMarkets.com reviews and ratings by Forex Peace Army

i have a few questions for people that have an account with IG markets

1. is my money safe in there account. has anyone had any trouble getting there money out
2. has anyone got any proof that they really do this?
3. it seems that a lot of the complaints are fairly old, have IG bucked up there principles
4. would it be overall safer to find a new broker (i trade indices)
5. i would appreciate peoples opinions of IG markets


km

I thought CFDs are a contract for difference where the underlying stock is purchased on the market. IG and other providers buy/sell the stock in the market (at the mkt price) and charge commission. Unlike a spread bet where no stock is traded (unless presumably for the provider to hedge) and IG or the provider make their money on the spread (which is always slightly wider). With our CFD providers we sometimes tell them which MM to use or even do the trade for them in the market and they book it.
I always think once you have opened the position (you only deal if you like the price) you are then at the mercy of the provider in terms of the width of the spread, in fact sometimes IG block online trading, the system telling you that the price displayed is inaccurate!