Boy_Plunger
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First of all, what were you doing on IG during the flash crash?? lol... (I know why I was on IG...)
were you in a trade? could you get out and realised your profit? I couldn't.
I was pretty sure the spread increased in times of volatility.. or was it just me (as I was losing more money than I could count and my brain was telling me porkies???)
can anyone else confirm this bout IG??
This was around the months preceding and after the flash crash when daily..volatility on the indices were huge...
and has anyone who tried trading over a figure close their positions to realise their profit or loss?.. IG would keep giving you a pop up menu telling you the prices have moved... I would do that multiple times.. and my position would still remain open... I would watch my paper profits dwindle or losses accumulate... for a few more minutes before it is actually closed....
I've also noticed - for e.g in FX ..and again in fast moving markets...IG prices obviously tend to lag... but you won't be able to open a position... I usually have my IG account opened next to my DMA platform over figures to satisfy my urge to plunge..
With regards to the OP -- I think as someone else said before - taking a SB firm to court over what is essentially gambling losses, your chances are slim mate...
You may stand a chance if you had use a screen capture software to capture those trades that you claim were unfair.. and also recorded your phone conversations with them.. then consult a hotshot lawyer to review your case against IG...
But then again, though I have not read it I am pretty sure some where in their T&C small print, IG's covered all their bases and would have a clause that said something along the lines of "Our prices are a take it or leave it price - bet at your own peril"
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tar
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I am sorry the spread was 4 points not 2 on the dow , i meant the spread was normal i didnt c any widening on spreads , FTSE was 2 , and no i wasnt on a position myself with IG . Anyway u can check the spreads live on the main home page , definitely they will not dare to give u different spreads . I tried to scalp FOMC with IG with good size orders and it was instant ...
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tar
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@ fast moves , if u want to bet with the trend ofcourse u will not get filled if the price is jumping , even with DMA u will get filled with decent slippage , in the other hand if u bet against the spike with IG u will get filled at a better price happened with me many times , anyway with IG u can place a bet over the phone at least they will pause the price for u , they cant reject ... :cheesy:
Boy_Plunger
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tar
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cuz everyone get emotional after news release :cheesy: , i dont mean against the main trend , meant against the initial spike , sometimes it works like a charm ...
My experience is that there is only one, but it is the one that counts. How far is it going to go up/down to take out the stops? It varies from one day to the next. The huge problem, for me, is "Is it a spike, or will it keep going?"
As I see it, the bar has to complete and the shortest TF the better to determine this because they go up and down like a whore's drawers.
Rare for it to leap in one direction and keep going, though. Still, it's very easy to get it all wrong, I find, especially if you try to trade FX and indices at the same time.
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Rare for it to leap in one direction and keep going, though. STill, it's very easy to get it all wrong, I find, especially if your try to trade FX and indices at the same time.
Rare? That's confidence for you! Wish I had that much because getting spikes right helps to make winners!
Having an order in at some incredible distance away and a stop above that probably does make an intrepid trader's day. I might give it a try! Doing it manually is too difficult for me and most of us, I suspect.
Happy Christmas and good trading.
funkymusician
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I don't understand how by having been at work experience with another company you can "claim to know everything about them". Even more bizarre is for you to call people out to test you on your prefabricated knoweldge. Where is this big legal case if you are so sure?
Find me someone who hasn't got a big legal case at the moment.
Betting is betting, companies would not offer it if they didn't think they could take you for a ride.
Last week I saw IG and ETX capital drop the ftse rolling cash by 10 points just after market close but other spread bet companies didn't do the drop. So anybody who was long must of been swearing but anybody short would of been over the moon but I bet they both had a large number of winning long trades on their books at the time. I have a number of spreadbet account and if one starts to give me slow exiction I move to one of the others and so on and use the account what gives me the best service in that moment in time. I have a few platforms running because sometimes one chart will be moving quicker than another companies price what can give you a edge especial if the dow shoot off and one SB is slow to react. If people remember SB's are glorified bookmakers who want make money off you and if you make too much money off them they will not want your business but I think if a company is happy to have you betting with them when you are losing but not when they are losing money something needs to done within the law to stop the practice.
To the guy who faces going bankrupt pay the money and advoid going bankrupt because if you lose it will have a big affect on your life but if its been shown you have the means to pay the debt the judge will refuse you bankruptcy and send you and IG to find a different way to end the dispute. The only time a company is successful in making somebody bankrupt if they can't pay by not having the means to pay.
To the guy who faces going bankrupt pay the money and advoid going bankrupt because if you lose it will have a big affect on your life but if its been shown you have the means to pay the debt the judge will refuse you bankruptcy and send you and IG to find a different way to end the dispute. The only time a company is successful in making somebody bankrupt if they can't pay by not having the means to pay.
fast trader7
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Hello
The reason it drops on Tuesday close is because many ftse companies go ex-div. on that night.
IG does it at 4;30 and CMC and others at midnight. So nothing wrong with the pricing, just ex-divident scenario.
Hope it helps
Thats possible, but it happened to me on a number of occasions. IG is ok in general, but sucks in this type of scenario. Basically the chart was working, but price quotes got stuck. You would not be able to get in or out of a position until the price retraced back. It took only a couple of minutes, but enough to get hurt if you traded. Happened to my friend as well who was trading DAX at the same time (around 9.26am) so it wasnt just my PC. Considering using different platform for this type of trading days. If anybody got good experience with any, pls do let me know
tar
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could be your pc , happened to me b4 when i used slow machine or slow connection , u could call the desk and close your trade on the phone .
No I dont think so. I have 20MB broadband, 2.8Ghz/8GB Mem. My mate who traded DAX at the same time was trading from a trading arcade (he doenst have limits on DAX so he uses IG occasionaly). I do not think it is issue with pc or connection. I havent tried calling their trading desk tbh, but by the time I would call them it would be too late. Are you using any other platforms (for SB) or just IG?
