IG Index "dealing desk" delays...

M

MrBrilliant

Member
Messages
94
Likes
4
I've been trading on my IG Index account for the last year, and it's generally been smooth.

Over the last few days, however, I've noticed that trades have been slower. I put on a few trades on my PC and I got a rotating progress bar with a message "Your deal is being handled by our dealing desk..."

Is this something new that IG has started, or is that just what happens to you when you start making money?
 
MrBrilliant said:
Is this something new that IG has started, or is that just what happens to you when you start making money?
Click to expand...

I've probably banged on about this for too long, and loads will disagree, but i'm in the latter camp for sure, and for that reason moved on some time ago
 
malaguti said:
I've probably banged on about this for too long, and loads will disagree, but i'm in the latter camp for sure, and for that reason moved on some time ago
Click to expand...

What does it actually mean though? Somebody there has to manually authorize your trade? Under what circumstances would he not authorize it? Or is he just there to f*** you around when the market is volatile so that you go away and never come back?
 
You should look on the bright side - most likely you are good at trading.

The next step would be to find a good broker and forget about 'dealing desks' clowns
 
MrBrilliant said:
What does it actually mean though? Somebody there has to manually authorize your trade? Under what circumstances would he not authorize it? Or is he just there to f*** you around when the market is volatile so that you go away and never come back?
Click to expand...

It will be to check his trade level against the price in the underlying market to ensure he is dealing at the correct price or in extremes to get their hedge against him done before they fill him.
 
highbury fx said:
It will be to check his trade level against the price in the underlying market to ensure he is dealing at the correct price or in extremes to get their hedge against him done before they fill him.
Click to expand...

in this day and age, this wouldn't be automated? There are really hundreds of individuals all checking trade levels...I'm not convinced, but im not there on the other side so just call me the voice of scepticism
 
ZEN archer said:
You should look on the bright side - most likely you are good at trading.

The next step would be to find a good broker and forget about 'dealing desks' clowns
Click to expand...

Yeah I turned 2,000 into more than 10,000 in a few months, while it's not a huge amount of money the profit-to-deposit ratio might have put me on their radar.

What other broker can I use? I'm a bit of a noob and I've only ever used IG. I looked at a couple other spread-betting companies but I generally only trade options and binaries and IG has a much better selection than anything else I've seen.

malaguti said:
in this day and age, this wouldn't be automated? There are really hundreds of individuals all checking trade levels...I'm not convinced, but im not there on the other side so just call me the voice of scepticism
Click to expand...

I agree, I can't really think of any circumstance where a human can check any quantitative value better than a computer. If anything, I think maybe they might be checking to see if you're cheating somehow.. maybe hacking the site to lag orders in order to try to get in on a price that's 1-2 seconds old? Or maybe just to keep an eye on you?
 
MrBrilliant said:
Yeah I turned 2,000 into more than 10,000 in a few months, while it's not a huge amount of money the profit-to-deposit ratio might have put me on their radar.

What other broker can I use? I'm a bit of a noob and I've only ever used IG. I looked at a couple other spread-betting companies but I generally only trade options and binaries and IG has a much better selection than anything else I've seen.
Click to expand...

If you managed that kind of return (without excessive risk) it’s definitely worth you trying to find a most suitable broker for you. Of the top of my head there are few: Interactive Brokers (various instruments - US based), WH Self invest (futures - European), Dukascopy (currencies - European) etc. There are many others.

Try to do a thorough research and read as many reviews from different sources/sites before deciding which one to use. You will need more money to open an account (often $10,000 min or similar depending on what instruments you trade). You also need to pay tax (if you are profitable).
 
Thanks mate, to be fair I did do a lot of risky stuff but I'm working on that.

Do any of these brokers have options and binaries? I tried looking at interactive brokers a few months ago but I didn't have $10,000 to open an account at that time, so I just had to look at their website which only seemed to list exchanges and not instruments and I didn't really understand it.
 
I don't know - I don't trade options and binaries. Whatever the case you should spend some time and effort before opening an account (ask options traders what brokers they use and why etc.)

Good luck
 
Also don't know much about options and binaries.
Have an account with a broker and SB which works for me.
Both have pros and cons.
With SB I sometimes have problems opening and closing Hong Kong orders outside of market hours.
Well done on the winnings, keep the hard work up.
 
ZEN archer said:
If you managed that kind of return (without excessive risk) it’s definitely worth you trying to find a most suitable broker for you. Of the top of my head there are few: Interactive Brokers (various instruments - US based), WH Self invest (futures - European), Dukascopy (currencies - European) etc. There are many others.

Try to do a thorough research and read as many reviews from different sources/sites before deciding which one to use. You will need more money to open an account (often $10,000 min or similar depending on what instruments you trade). You also need to pay tax (if you are profitable).
Click to expand...
With that kind of return in reference to the capital and time period the risk have probably been on the heavy side. Good on him, he got away with it this time, but not in the long run though.
 
gle101 said:
With that kind of return in reference to the capital and time period the risk have probably been on the heavy side. Good on him, he got away with it this time, but not in the long run though.
Click to expand...

Mr B, I must say I agree with gle. Anyway you're doing something right (they've noticed that already lol), but should pay more attention to the risk.

Also you've mentioned IB and not being able to find instruments. I know their platform is a bit complicated and customer service not the best, but you need to take it seriously. Spend some time studying, reading till you can find all the instruments, margins required, exchanges etc. There is no easy and quick way to do it I'm afraid.
 
MrBrilliant said:
Yeah I turned 2,000 into more than 10,000 in a few months, while it's not a huge amount of money the profit-to-deposit ratio might have put me on their radar.

What other broker can I use? I'm a bit of a noob and I've only ever used IG. I looked at a couple other spread-betting companies but I generally only trade options and binaries and IG has a much better selection than anything else I've seen.



I agree, I can't really think of any circumstance where a human can check any quantitative value better than a computer. If anything, I think maybe they might be checking to see if you're cheating somehow.. maybe hacking the site to lag orders in order to try to get in on a price that's 1-2 seconds old? Or maybe just to keep an eye on you?
Click to expand...

You can think whatever you choose but you asked a question and I answered it correctly.

They have small teams of risk managers who work a rotating 24 hour shift. In some instances the book is passed from London to Australia overnight and back to London again in the morning but in all cases the team is small. The platform, pricing blends and order engines are all automated but people who manage risk have ways of sniffing out clients that are costly and in the first instance this small group of clients are 'red flagged' so each deal they do needs to be manually accepted by one of the small team on the risk desk.

There may only be 100 people at any one time who are red-flagged and if 70% of this group of clients each deals 7 times in any one particular day (a typical client frequency profile) then thats less than 500 deals a day that need to be eyeballed by one of 10-15 people. Considering a good FX spread betting/cfd desk will take 10,000 to 50,000 trades per day it isn't really much to worry about from a resource perspective.

you can believe it or not but it is accurate.
 
highbury fx said:
You can think whatever you choose but you asked a question and I answered it correctly.

They have small teams of risk managers who work a rotating 24 hour shift. In some instances the book is passed from London to Australia overnight and back to London again in the morning but in all cases the team is small. The platform, pricing blends and order engines are all automated but people who manage risk have ways of sniffing out clients that are costly and in the first instance this small group of clients are 'red flagged' so each deal they do needs to be manually accepted by one of the small team on the risk desk.

There may only be 100 people at any one time who are red-flagged and if 70% of this group of clients each deals 7 times in any one particular day (a typical client frequency profile) then thats less than 500 deals a day that need to be eyeballed by one of 10-15 people. Considering a good FX spread betting/cfd desk will take 10,000 to 50,000 trades per day it isn't really much to worry about from a resource perspective.

you can believe it or not but it is accurate.
Click to expand...
Yes you are probably right about this, after all it is a part of the gambling industry we are talking about. they will do everything in their power to cut you out if you are "too successful", even if it means manipulating the individual client account. Hopefully the day will come when trading with market makers will be like trading the real market. With that comes the need for better and faster platform technology, which the market makers cannot deliver at the present moment.
 
gle101 said:
Hopefully the day will come when trading with market makers will be like trading the real market. With that comes the need for better and faster platform technology, which the market makers cannot deliver at the present moment.
Click to expand...

the technology is there already with other DMA providers it's just the dealer desk model brokers choose not to use it. ;)
 
SpreadDoctor said:
the technology is there already with other DMA providers it's just the dealer desk model brokers choose not to use it. ;)
Click to expand...
The problem at the moment is the fixed spread and the need to include additional spread in the price feed for the market makers. Maybe companies like Oanda will show the way with their fast platform and variable spread.
 
Last edited:
highbury fx said:
You can think whatever you choose but you asked a question and I answered it correctly.

They have small teams of risk managers who work a rotating 24 hour shift. In some instances the book is passed from London to Australia overnight and back to London again in the morning but in all cases the team is small. The platform, pricing blends and order engines are all automated but people who manage risk have ways of sniffing out clients that are costly and in the first instance this small group of clients are 'red flagged' so each deal they do needs to be manually accepted by one of the small team on the risk desk.

There may only be 100 people at any one time who are red-flagged and if 70% of this group of clients each deals 7 times in any one particular day (a typical client frequency profile) then thats less than 500 deals a day that need to be eyeballed by one of 10-15 people. Considering a good FX spread betting/cfd desk will take 10,000 to 50,000 trades per day it isn't really much to worry about from a resource perspective.

you can believe it or not but it is accurate.
Click to expand...

Fair enough, and thanks for the explanation.

One thing I still don't understand, though is this: What are they checking for? The guy that's manually checking your trades, presumably at some point he has the power to decline your trade, so under what circumstances does he do this?
 
how long do your trades last? For US shares the Quarterly spreads are almost 6 to 10 times more then the Daily Rolling spreads..
 
MrBrilliant said:
I've been trading on my IG Index account for the last year, and it's generally been smooth.

Over the last few days, however, I've noticed that trades have been slower. I put on a few trades on my PC and I got a rotating progress bar with a message "Your deal is being handled by our dealing desk..."

Is this something new that IG has started, or is that just what happens to you when you start making money?
Click to expand...

Forex? indices? shares?

http://www.trade2win.com/boards/spr...e-after-making-150-return-15.html#post2337514
 
You must log in or register to reply here.

Similar threads

R
Mobile Dealing On IG Index
Replies
3
Views
3K
robben20
R
A
IG Index: Deal rejected
Replies
6
Views
3K
ns1000
N
T
How To Profit From The Newswire
Replies
0
Views
1K
Thomas74
T
B
IG Pure Deal.
Replies
5
Views
5K
bently
B
L
How did IG Markets unlawfully deal your trades?
Replies
2
Views
4K
limayden
L
Top