Jack Hughes
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DELAYED ORDER TICKET
Has anyone else experienced the delayed Order Ticket fiasco on IG? Today, 6 April, between about 1335 and 1340 UK time (and also on a couple of occasions last week), I tried several times to close out a small position on GBPUSD. Each time I was presented with a blank, unpopulated Order Ticket which of course prevented me from closing the position. On the last occasion I counted up to 60 seconds before it "unfroze", by which time the market had moved against me.
I can understand something like this happening in a very fast moving market, such as at Non-Farms time when IG just don't want you to trade, but at the times mentioned Cable was whiffling about doing nothing much at all.
I should add that I am a trader of many years' experience, and place about 3 or 4 trades a day.
Has anyone else experienced the delayed Order Ticket fiasco on IG? Today, 6 April, between about 1335 and 1340 UK time (and also on a couple of occasions last week), I tried several times to close out a small position on GBPUSD. Each time I was presented with a blank, unpopulated Order Ticket which of course prevented me from closing the position. On the last occasion I counted up to 60 seconds before it "unfroze", by which time the market had moved against me.
I can understand something like this happening in a very fast moving market, such as at Non-Farms time when IG just don't want you to trade, but at the times mentioned Cable was whiffling about doing nothing much at all.
I should add that I am a trader of many years' experience, and place about 3 or 4 trades a day.
Sounds like a browser issue - what did their tech support say?
With that kind of experience you do have an alternative exit (another SB in case you need to hedge yourself out)?
tar
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or he can use the phone as well .
tar
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then u have to keep 2 platforms running at the same time always ...
Jack Hughes
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Have you tried closing (or opening) using DealThru charts?
Right, sorry, I’m back. This is how this problem arose in the first place – I’m not a full time day trader, I can’t stay logged in to IG / forums all day, I have other work to do which is not financial services-related.
Responding to some of the last posts:
I should have been classified as a professional client if IG thought that that was what I was – I was not and so should have been treated like an inexperienced retail client – do they all get 92k credit?
In terms of how I opened these losing positions, what some of you claim is “missing” – see posts 35 and 62.
The references to “gaps” in the market – what are these? When the IG index diverges from the real index? I believe I opened these positions while the markets were open, but only checked them again after the markets had closed, found the huge losses, and closed them. Would that have allowed for “gaps”?
Tar – thanks for that credit account offering link. That could prove useful. I am not, and certainly wasn’t back then, an “experienced investor”.
Responding to some of the last posts:
I should have been classified as a professional client if IG thought that that was what I was – I was not and so should have been treated like an inexperienced retail client – do they all get 92k credit?
In terms of how I opened these losing positions, what some of you claim is “missing” – see posts 35 and 62.
The references to “gaps” in the market – what are these? When the IG index diverges from the real index? I believe I opened these positions while the markets were open, but only checked them again after the markets had closed, found the huge losses, and closed them. Would that have allowed for “gaps”?
Tar – thanks for that credit account offering link. That could prove useful. I am not, and certainly wasn’t back then, an “experienced investor”.
tar
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Here is the 2 posts mentioned by mr put , seems your credit limit is not 5 k only ...
depends what you mean by credit. i have an idea of what credit means. so do you. IG think differently - they gave me a "credit" limit, in black and white, of 5k, nothing more.
they also then gave me a "waived deposit limit" of 12.5k. even the credit department at IG weren't sure what this was - they kept referring to it as a "wave" deposit limit when i was looking for clarification of what it was.
they also then gave me a "waived deposit limit" of 12.5k. even the credit department at IG weren't sure what this was - they kept referring to it as a "wave" deposit limit when i was looking for clarification of what it was.
tar
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Ok i checked the dealing book may 2008 u r right the margin for the daily ftse was 80 and for the futures it is 200 ...
I have to agree with tar, it looks like you had credit much above the 5k you have mentioned. I guess, this is the reason you were able to open both these long positions. £200 per point, a lot of money if the market decides to go heavily against you. I guess you had the first long position for quite a while, and decided to bet another £100 in order to try to recover some of the losses from the first position. This have happened to the best of us, and when denial kicks in one can do awful stupid trades. The future market probably continued to go down heavily after the close of the LSE, and thus the worst case scenario from your perspective became a reality. You probably had a credit around 20k, and with a stake of £200 pp, 92k is not miles away when panic sets in and everybody starts selling. Still, they should have closed you position earlier, but I cannot imagine it should have been close to the 5k you are talking about, as you were able to open the second long position of yet another £100.
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