IG Markets massive slippage on slow moving DAX

I and a friend of mine have been day trading the DAX for a few years now and we have been using IG Markets exclusively for over a year. Tonight he experienced massive slippage on a trade that moved slowly through his stop. According to the tick chart it was around 20 seconds later that IG managed to execute his stop order for a 16 point slippage.... yep that is right you heard it... 16 point slippage. 20 seconds equates to over 700 ticks on the tick chart, where 300 of them was very near his stop. This is also after he tried to get off the trade while it was in profit, but IG didn't let him off because it moved to much... apparently 3 points too much.

This is enough of a reason for us to never ever use IG Markets again, and to actively convince people to never use them... because when you get serious and more money is on the line... funny business starts to happen. IG Markets cannot be trusted.

This is just wrong.

His telephone conversions haven't gone too well... they hold their line that it is acceptable that it can take 20 seconds to exit a trade that is moving slowly through your stop. (...for maximum profit for IG markets)
 

pboyles

Legendary member
8,072 1,301
Well here we go again, someone will be along in a minute to tell you it's all your fault.
 

Shakone

Senior member
2,458 665
It's all your fault.

But really, what time and price are we talking about? And what is this 3 point move too big thing that you mentioned?
 

pboyles

Legendary member
8,072 1,301
Try to google 'virtual dealer plugin'.
 
It's all your fault.

But really, what time and price are we talking about? And what is this 3 point move too big thing that you mentioned?
Hi,

The trade was a short trade on the 10:50am 5 minute bar, ie just a few hours ago. 3 point move that I'm talking about is from the time you press the button to the time that IG gets the request the market has moved 3 points and instead of just closing out the position at market, they reject the order.
 
L

Liquid validity

0 0
Hi,

The trade was a short trade on the 10:50am 5 minute bar, ie just a few hours ago. 3 point move that I'm talking about is from the time you press the button to the time that IG gets the request the market has moved 3 points and instead of just closing out the position at market, they reject the order.
Are you using MT4?
 
Hi,

The trade was a short trade on the 10:50am 5 minute bar, ie just a few hours ago. 3 point move that I'm talking about is from the time you press the button to the time that IG gets the request the market has moved 3 points and instead of just closing out the position at market, they reject the order.
The trade was entered "At Market" when he entered the trade, but when he tried to close the position it rejected him as if it wasn't a market trade. I would have thought that a market trade would also close the trade at market... or is this a bad assumption?
 

Shakone

Senior member
2,458 665
Sure it wasn't 9:53am-9:54am when there was a quick move? 10:50 bar doesn't look interesting.
 
The question I should be really asking is:

On IG Markets :
When you open an order "At Market" does this mean that when you attempt to close the position it is closed "At Market"?

According to IG Market's help desk this is the case... but it doesn't explain why my friend's attempt to close his position was rejected, if it is an "At Market" order? So are the people at the IG help desk lying or do they not know what they are talking about?
 

bustech

Experienced member
1,595 41
The question I should be really asking is:

On IG Markets :
When you open an order "At Market" does this mean that when you attempt to close the position it is closed "At Market"?

According to IG Market's help desk this is the case... but it doesn't explain why my friend's attempt to close his position was rejected, if it is an "At Market" order? So are the people at the IG help desk lying or do they not know what they are talking about?
Check time and sales and volume on the the underlying market.

I don't have DAX on DMA, so can't get the info.
 

Splitlink

Legendary member
10,850 1,232
I was closed right on my stop at 8289.5. ITH. I don't use IG but I do use SB. As you can see the Dax went much lower than that, this morning, and I consider myself fortunate, because my stop was not guaranteed.
 

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