tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
count me 2
count me 2
meanreversion
Senior member
- Messages
- 3,398
- Likes
- 537
I used IG for a few months and had no issues at all (mainly FX). I stopped using it due to the overnight roll charge (but all SB companies charge this).
IG started before most of the t2w members were born, so it's probably been doing something right. It's now capitalized at £1.8 bn, over double the size of Interactive Brokers (interestingly).
Anyhow, call me a total naive child if you will, but the conceptual problem I have with the "IG are trying to f--- all their clients" line is that, if they did, then presumably the clients will either
1. Lose money and/or
2. Move to another firm
Surely neither option is appealing for IG?
IG started before most of the t2w members were born, so it's probably been doing something right. It's now capitalized at £1.8 bn, over double the size of Interactive Brokers (interestingly).
Anyhow, call me a total naive child if you will, but the conceptual problem I have with the "IG are trying to f--- all their clients" line is that, if they did, then presumably the clients will either
1. Lose money and/or
2. Move to another firm
Surely neither option is appealing for IG?
scose-no-doubt
Veteren member
- Messages
- 4,630
- Likes
- 954
I think the first option is very appealing to IG.
My guess is that the commission/spread will be the money spinner as per the P&L top line but the client losses will somehow make their way onto the balance sheet. Would be interesting to have a look see and settle the argument once and for all.
My guess is that the commission/spread will be the money spinner as per the P&L top line but the client losses will somehow make their way onto the balance sheet. Would be interesting to have a look see and settle the argument once and for all.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
TBH the platform is 5hite, but it's all about what you get used to I suppose...and heh, who needs platforms eh? Just read the tape and click..
but "overall" it is a good service ...
Agree
TBH the platform is 5hite, but it's all about what you get used to I suppose...and heh, who needs platforms eh? Just read the tape and click..
Amazingly, agree again.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
cant say about the platform "5hite" though ....
B
Black Swan
Good trader make money, bad trader lose money...endex...
meanreversion
Senior member
- Messages
- 3,398
- Likes
- 537
Actually, I'm talking sh1te. Having spent many years on the sell side trading FX, I know damn well that jamming stops and front running orders is an important source of revenue. Most clients crash and burn eventually, you just have to hope more will spring up to replace them.
scose-no-doubt
Veteren member
- Messages
- 4,630
- Likes
- 954
what type of firm you work for Mean?
meanreversion
Senior member
- Messages
- 3,398
- Likes
- 537
investment bank, shhhh don't tell anyone
Yes, the best at profiting from their clients, which they make partly by adding unnecessary (artificial) slippage.
Yeah, good comment. What a mug.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
not to mention the favorable slippage as well ...
scose-no-doubt
Veteren member
- Messages
- 4,630
- Likes
- 954
so gammajammer who is an institutional market maker talks about stop running and MR who has said that he worked in IB FX says it happens but people who say IG do it still get ridiculed by black swan and his cronies lol.
So if IG doesn't stop run etc, I am therefore supposed to accept that:
a) IG doesn't hedge it's positions
or
b) IG's hedges are always profitable (net)
or
c) IG essentially absorbs institutional stop running on it's hedges/market positions which for it's clients
F*ck off.
So if IG doesn't stop run etc, I am therefore supposed to accept that:
a) IG doesn't hedge it's positions
or
b) IG's hedges are always profitable (net)
or
c) IG essentially absorbs institutional stop running on it's hedges/market positions which for it's clients
F*ck off.
meanreversion
Senior member
- Messages
- 3,398
- Likes
- 537
I think there's a line between traders who have lost money through poor or ill-disciplined trading and those who've been genuinely f-cked over by their brokers.
It's all too easy to blame the broker for losing trades. That's not to say that they don't do it, of course, but I suspect that it's a crutch to point the finger elsewhere.
For those people who've suffered big slippage - how do you know you wouldn't have been treated the same way elsewhere? You don't. However, my guess would be that if your broker is a market maker (as opposed to DMA), then over time they will extract money from you in this way.
But hey - spreadbetting is tax free - it's not all bad! And if you trade with IG enough they'll take you to Wimbledon.
All this stop hunting lala stuff to achieve "client losses" is all rubbish talk. Just think about this, "IG" and other SB companies have 1000s of clients which at any point in time have both "long" and "short" positions in any given market security. So if they tried to "hunt" a long stop order in a given security to cause a client loss, they are at the same quite likely hunting short limit orders to take profits! net result "zero" gain to IG! a loss for one client and a win for another! The only gain they do get is forcing more trades to get more "spread".
B
Black Swan
You don't have to "accept" anything...Don't hate the game and the players, play the game and the players..Simple..for some...
