Low value trading in IGindex.

[infinitym4ge]

I enjoy low value trading on IGindex, but i am worried. soon it will be going up
i don't have the money to trade at £1 a point.

the reason i like 10p trades is because its real money i will fight for every penny i make thus helping me learn, paper trading and demo accounts don't work because it is fake money and your heart is not in it, i find i let my losses run which i would NEVER do with my 10pence.

if i spoke to IGindex and said i wanted to stay at 10p trades what would their reaction be? the fact of the matter is if it goes to £1 a point i am out.

any suggestions?

 

[foredog]

Oanda, trade from 1c a point for forex.

Ig only offer this to let you learn for 6 weeks, to be honest you're probably too much of a pain in the #### trading 10p here and 20p there as they can't offset it and it just clogs up the systems etc.

 

[infinitym4ge]

Am i best moving off to Oanda then?

 

[foredog]

I'd guess so, no harm in contacting IG to ask though, whats the worst they can do? close your account? you're going to go anyway...

 

[arabianights]

I'm pretty sure they'll let you continue, especially if you call up and mention that you really want to stick £150k in but need more practice...

 

[montmorencyt2w]

Aren't trades on some instruments as low as 50p/pip?
I think they used to be anyway.

 

[tar]

Aren't trades on some instruments as low as 50p/pip?
I think they used to be anyway.

Yeah forex

 

[Neoripley]

Aren't trades on some instruments as low as 50p/pip?
I think they used to be anyway.

.24p on most US shares (margin requirements vary)

 

[chezlaw]

Ask them. A friend if a friend asked and apparantly it wasn't a problem.

 

[advfntrader]

have a look at vdmgm.com - 15p per point on most Fx pairs. good fast system

 

[julzie]

Hi,

I noticed that PartyMarkets does 10p for as long as you like. There is a £100 bonus if you sign up.

For the purposes of these Conditions the “Minimum Trading Requirements” means that you must place Spread Betting trades with a total stake of £100 or more or CFD trades with the total consideration equivalent to £85,000, within 30 days of the account opening. See detailed examples of how this might be achieved - Does this simply mean that to get the £100 you need to place a trade that has a stop loss of £100? Im really new to this and sorry if this sounds stupid? Any help would be appreciated. Thanks! Julz

 

[montmorencyt2w]

Hi,

I noticed that PartyMarkets does 10p for as long as you like. There is a £100 bonus if you sign up.

For the purposes of these Conditions the “Minimum Trading Requirements” means that you must place Spread Betting trades with a total stake of £100 or more or CFD trades with the total consideration equivalent to £85,000, within 30 days of the account opening. See detailed examples of how this might be achieved - Does this simply mean that to get the £100 you need to place a trade that has a stop loss of £100? Im really new to this and sorry if this sounds stupid? Any help would be appreciated. Thanks! Julz

You could place one trade with a stake/stop loss/margin requirement of £100, or 10 with £10, etc.

Would need a lot of trades or a very big stop loss if you were trading 10p/pip though.

 

[maiden22]

Oanda, trade from 1c a point for forex.

Ig only offer this to let you learn for 6 weeks, to be honest you're probably too much of a pain in the #### trading 10p here and 20p there as they can't offset it and it just clogs up the systems etc.

In fact, this is only the standard position. I've had an account with them for about 5 months and I'm still on 10p minimums. I don't recall requesting this, it just seems to have been left in situ.

I hope that they don't discontinue this as it has been absolutely superb for me to learn on. As a newbie (started 6 months ago) I would definitely have blown my account at £1 / pip.

Mind you, having managed the transition to consistent (and very modest) profitability, I now trade at 18p / pip - going up to 20p from tomorrow :clap:, so I'll soon be one of their premier clients.

Yep, they'll really be raking it in from the 3 pip spread on my 1 per day cable habit .

 

[montmorencyt2w]

In fact, this is only the standard position. I've had an account with them for about 5 months and I'm still on 10p minimums. I don't recall requesting this, it just seems to have been left in situ.

I hope that they don't discontinue this as it has been absolutely superb for me to learn on. As a newbie (started 6 months ago) I would definitely have blown my account at £1 / pip.

Mind you, having managed the transition to consistent (and very modest) profitability, I now trade at 18p / pip - going up to 20p from tomorrow :clap:, so I'll soon be one of their premier clients.

Yep, they'll really be raking it in from the 3 pip spread on my 1 per day cable habit .

Last of the big spenders, eh?

They may have changed their policy since I started with them, some time in early 2008. I seemed to get ramped up from 10p to £1 fairly quickly...too quickly for me, to be honest.

 

[maiden22]

Last of the big spenders, eh?

They may have changed their policy since I started with them, some time in early 2008. I seemed to get ramped up from 10p to £1 fairly quickly...too quickly for me, to be honest.

Hell yeah - I'm a wild man in the markets . This morning I took a damn near £6 bite out of cable's a$$. Whichever poor sucker they hedged my trade against will have been crying in his cornflakes for sure LOL.

It may be worth going back to them and asking for the 10p thing again. I've just found it so useful because:

1. Starting out I traded like an ***hole, and nearly blew half my account even at 10p.
2. The platform is great in my opinion, although I've only got Finspreads thumbsdow) and Worldspreads (demo at present) to compare it with.

 

[montmorencyt2w]

Hell yeah - I'm a wild man in the markets . This morning I took a damn near £6 bite out of cable's a$$. Whichever poor sucker they hedged my trade against will have been crying in his cornflakes for sure LOL.

I look forward to the day when I see a picture in Moneyweek of the top man at IG presenting you with a cheque for, ooh, say, £18

It may be worth going back to them and asking for the 10p thing again. I've just found it so useful because:

1. Starting out I traded like an ***hole, and nearly blew half my account even at 10p.

This is part of the learning process...

2. The platform is great in my opinion, although I've only got Finspreads thumbsdow) and Worldspreads (demo at present) to compare it with.

Yes, I loved the platform. The only reason I stopped using them was that their spreads were a bit on the wide side, plus I had (have) a limited-risk account, so all stops were guaranteed, at a high-ish spread premium. There are pros and cons to this, but I preferred the option of choosing myself whether my stops were guaranteed or not, and went looking elsewhere, also for the various bonus offers that come up from time to time. They now allow you to "upgrade" to a non-limited-risk account, which I will probably do some time. But I have several other (smallish) accounts I can be blowing first With that, plus your experience of extended 10p/pip bets, perhaps they are getting more flexible all round ... feeling the competition, perhaps.

 

[maiden22]

I look forward to the day when I see a picture in Moneyweek of the top man at IG presenting you with a cheque for, ooh, say, £18


This is part of the learning process...


Yes, I loved the platform. The only reason I stopped using them was that their spreads were a bit on the wide side, plus I had (have) a limited-risk account, so all stops were guaranteed, at a high-ish spread premium. There are pros and cons to this, but I preferred the option of choosing myself whether my stops were guaranteed or not, and went looking elsewhere, also for the various bonus offers that come up from time to time. They now allow you to "upgrade" to a non-limited-risk account, which I will probably do some time. But I have several other (smallish) accounts I can be blowing first With that, plus your experience of extended 10p/pip bets, perhaps they are getting more flexible all round ... feeling the competition, perhaps.

Mike, I'll see that you get a card for the ceremony , and a place on high table with the rest of us high rollers .

Yeah, you can get limited risk lifted without a problem. Spreads are on the wide side, but most of my stuff is EOD or 4hr, so not such an issue for me. I'm very tentatively looking again at lower tfs, but only for 10 or so major things (Dow, FTSE, cable, EURUSD etc) that have quite low spreads in absolute if not relative terms.

Worldspreads are more competitive (I think it's something like 1 pip on EURUSD, for example) but I'm taking things very slowly. £1 / pip may not be much of a stake for many people on here, but I've only just starting winning consistently and I want to make sure I can carry that on for a while before risking anything approaching "real" money. So it'll be pennies for me for a while longer yet. As long as I'm moving forward, I'm satisfied at the moment.

 

[montmorencyt2w]

have a look at vdmgm.com - 15p per point on most Fx pairs. good fast system

Their website talks about their system automatically calculating stops for you.
Can you override these/set them yourself as you place the trade?