IG Index

CityTrader

Established member
665 26
I've just checked on The FSA website and there's no listed as registered.

IG are a Mid 250 publicly traded company. They are forecast to make roughly £180mil. I have traded with them for over 15 years. they may not be my first call to put on a SB, but I certainly have never had a problem with them. I find it hard to believe that they have scammed money from this guy...
 
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ZEN archer

Experienced member
1,528 241
Just wondering if they would have closed his account and returned all his money if he had losing trades instead:whistling
 

rsh01

Experienced member
1,184 299
Just wondering if they would have closed his account and returned all his money if he had losing trades instead:whistling

That's a straw man argument. Why would they? He lost the money - someone else gained but prob not IG. It would not have got flagged as being suspicious etc etc
 

ZEN archer

Experienced member
1,528 241
That's a straw man argument. Why would they? He lost the money - someone else gained but prob not IG. It would not have got flagged as being suspicious etc etc

Are you connected?;)
 

rsh01

Experienced member
1,184 299
Its like all the shops across the world who count their takings at the end of the day and find themselves to be up some cash obviously take the money down to the police station. And when someone robs them they just let it be. Did he rob them/someone? Maybe not, but he's acting suspicious by being deceitful from the first instance. Agree, at this stage it shld be investigated by an independent party, paid for by his illicit gains, the remainder going to charity. He didn't play by the rules, so expect to get burnt.
 

donaldduke

Experienced member
1,665 257
A new account deposits 35K and then proceeds to make 200% return in six hours betting mostly on stock index binaries, then stops trading and attempts to remove profits.

IG dont like winning punters betting more than £10 a point on binaries. Every time i do so i get an hour glass for 10 or 20 seconds as they check the price and reject it if it moves in my favour.

This new account was betting £400!! a point on binaries, it was a fresh account and they likely were not delaying his bets yet (they assume new accounts with lose so more than happy to take big bets).

So the account could ride a fast trending binary without getting a rejection.

IG probably suspect a well capitalised experienced binary trader was doing a hit and run job on them using this account as a proxy.
 

R.Charnock

Well-known member
400 124
A new account deposits 35K and then proceeds to make 200% return in six hours betting mostly on stock index binaries, then stops trading and attempts to remove profits.

IG dont like winning punters betting more than £10 a point on binaries. Every time i do so i get an hour glass for 10 or 20 seconds as they check the price and reject it if it moves in my favour.

This new account was betting £400!! a point on binaries, it was a fresh account and they likely were not delaying his bets yet (they assume new accounts with lose so more than happy to take big bets).

So the account could ride a fast trending binary without getting a rejection.

IG probably suspect a well capitalised experienced binary trader was doing a hit and run job on them using this account as a proxy.

Serves them right, unless you think SB's should have a T&C clause stipulating that they reserve the right to cancel any trades resulting in a client making a profit.
 

donaldduke

Experienced member
1,665 257
Serves them right, unless you think SB's should have a T&C clause stipulating that they reserve the right to cancel any trades resulting in a client making a profit.

Their T&C state:

"A Bet will be initiated by you offering to open or close a Bet with us on an Index
at the level quoted by us. We may, acting reasonably, accept or reject your offer
at any time until the Bet has been executed.."

They can reject a bet for any 'resonable' reason.

They dont like to reject big bets made by newbs though.
 

donaldduke

Experienced member
1,665 257
The sub clause is actually:

(d) if you obtain the quote via the Electronic Betting Services, your offer to
open or close the Bet, and our acceptance of your offer, must be given while
the quote is still valid;


Thats the one they use to wriggle out of accepting binary bets above a certain size, since IG make up the quotes for binaries they can arbitrarily decide a quote is no longer valid by simply changing it.
 

CityTrader

Established member
665 26
Just asking:)

I've noticed OP tends to praise them every so often:whistling

Who me? I try to make the SB firms my friends not my foe... and I try not to whine when things go wrong. For example over the summer I had a problem with SpreadEx - I spoke to them , and we sorted it out. I'll never use them again, but we sorted out the issue.

If I ever have a serious problem with a SB firm, You may well hear about it!!

CT
 

R.Charnock

Well-known member
400 124
The sub clause is actually:

(d) if you obtain the quote via the Electronic Betting Services, your offer to
open or close the Bet, and our acceptance of your offer, must be given while
the quote is still valid;


Thats the one they use to wriggle out of accepting binary bets above a certain size, since IG make up the quotes for binaries they can arbitrarily decide a quote is no longer valid by simply changing it.

Great. They can move the goalposts at any time. No wonder Stuart Wheeler is so rich.
 

tar

Legendary member
10,443 1,313
I've just checked on The FSA website and there's no listed as registered.

IG are a Mid 250 publicly traded company. They are forecast to make roughly £180mil. I have traded with them for over 15 years. they may not be my first call to put on a SB, but I certainly have never had a problem with them. I find it hard to believe that they have scammed money from this guy...

Apparently if you want to make big money with SB without any issues : you should cover all T&Cs loopholes and you should be a swing trader , that way you may be ok with IG and other reputable brokers ....
 
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