IG - Trade descriptions Act ??

[hornet99]

Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.

 

[rwb]

Most of the time their spreads will be 2 & 3 as before but occasionally they come in to 1 & 2 as advertised so you can't take these lower spreads as a given. If you want these spreads you will get them on DD or 1.7 & 2 on ODL and you'll find these spreads are constant during European hours.

Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.

 

[Trader333]

Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.

They allegedly did have a 1 pip spread on EURUSD and 2 pips on GBPUSD for about 30 seconds a week ago on Wednesday at 2.30am in the morning.


Paul

 

[foredog]

It does sometimes go to 1 on Eurusd but only for maybe 30 seconds to a minute.

Usdjpy sometimes goes to 1 as well

 

[donaldduke]

I have seen the spread go to 1 pip and i have traded once when the spread was that wide.

Still 2 pips on EUR/USD is still great, no commisions and tax free profits.
AUD/USD is now 2 pips as well during liquid hours.

 

[Phil Mibbutz]

What's to stop them advertising 'spreads from 0 pips', then letting it hit zero for a millisecond or so per week?

 

[PipStar]

Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.

It is all false advertising and they get away with it because of the word 'from' 1 pip. Doesn't GFT advertise in a similar fashion?

Anyway, from my experience IG has the widest spread among the spreadbet companies. How can you justify 7-8 pips spread on oil for example? Daylight robbery in my view !

 

[Trader333]

Anyway, from my experience IG has the widest spread among the spreadbet companies.

That is a bit too generalised in my view as they have quite tight spreads on many instruments but as you say not on oil in which case don't use them to trade oil.


Paul

 

[PipStar]

That is a bit too generalised in my view as they have quite tight spreads on many instruments but as you say not on oil in which case don't use them to trade oil.
Paul

As a matter of interest, can you mention, say, half a dozen instruments where you think IG has the tightest spreads compared to other spreadbet companies? I am just curious as I can't see it.

 

[Pippppin]

As a matter of interest, can you mention, say, half a dozen instruments where you think IG has the tightest spreads compared to other spreadbet companies? I am just curious as I can't see it.

PipStar...you are correct. IG do not offer tight spreads, and "Puredeal" is an oxymoron. However, they do offer a wider range of markets to bet on than any other spreadbetting company.

 

[tar]

Their spread on oil = 6 points most of the NY session and this is the normal spread for oil offered by other SB firms , IG has tight spreads - compared to other SB firms - on expensive US stocks like AAPL , GS , GOOG .... etc.

Their spread on Euro keep switching from 1 pip to 2 pip during europe session but most of the time 2 pips ...

 

[Trader333]

As a matter of interest, can you mention, say, half a dozen instruments where you think IG has the tightest spreads compared to other spreadbet companies? I am just curious as I can't see it.

I didn't say they had the tightest spreads but they are good enough when put into context of what you get when you trade with them. You just don't hear people complain about re-quotes, delayed fills, bust trades etc which you hear of all the time with others. To me that is a key issue when comparing their spreads with other companies that may be tighter. I also like the fact that you can place stop/limit orders and with trailing stops which is essential to my trading approach and something still not offered by so many others.


Paul

 

[Pippppin]

I didn't say they had the tightest spreads but they are good enough when put into context of what you get when you trade with them. You just don't hear people complain about re-quotes, delayed fills, bust trades etc which you hear of all the time with others. To me that is a key issue when comparing their spreads with other companies that may be tighter. I also like the fact that you can place stop/limit orders and with trailing stops which is essential to my trading approach and something still not offered by so many others.


Paul

Paul, although I am not an IG fan, and only use them in limited situations, I also like the fact that they offer guaranteed stops (yes, you pay with ever wider spreads), but it removes any necessity for hedging

 

[Black Swan]

Their spread on oil = 6 points most of the NY session and this is the normal spread for oil offered by other SB firms , IG has tight spreads - compared to other SB firms - on expensive US stocks like AAPL , GS , GOOG .... etc.

Their spread on Euro keep switching from 1 pip to 2 pip during europe session but most of the time 2 pips ...

correct.

 

[Calinor]

Looking at the IG website, they advertise that they offer spreads on the EUR/USD from 1 pip and GBP/USD from 2 pips, but I have never seen them offer these, does anyone else share the same view ???

Surely they can't get away with advertising this when it just doesn't appear to be offered.

I have seen it, although the 1pip is rare. But you have to understand the word from in the above advertisement. So no, trade descriptions act won't help you

 

[Claudia123]

IG at this point in time (imo) are the best of a bad bunch. I trade cable daily with them and never see 2 tic spread always 3. But 1 tic doesn't really matter as long as you not trying to scalp. If you want to scalp go dma - spread betting is not the right place. As Paul mentioned IG have some good features like the trailing stop loss and guaranteed stops which is great for someone new to trading - albeit expensive.

People continually complain about the spreadbet companies and I guess most lose money and thats why. You can make money out of them but very difficult day trading - need to be positioning or use them to hedge.

 

[tar]

IG at this point in time (imo) are the best of a bad bunch. I trade cable daily with them and never see 2 tic spread always 3. But 1 tic doesn't really matter as long as you not trying to scalp. If you want to scalp go dma .

Strange i saw 2 pip spread on cable sometimes during the European session ,most of the time 3 pips yeah but it switches to 2 pips many times during the day ...

 

[tar]

I took this screen shot now , Euro = 1 pip , Pound = 1.9 pip

 

[capitalspreads]

perhaps dealers might like to look at www.dealingdesk.com

price on eurusd is permanently 1 pip and 2 pips on gbp/usd

 

[foredog]

Cable has been 1.9pips quite often recently