Dealing the FTSE with IG Index and Esignal...different quotation!?

[AlphaBetaGaga]

Hi All,
I´m new to this page but already have an urgent question:

i´m dealing (or thinking having a go) the ftse-market (daily 100) via IG Index. As a graphical supplier is therefore use eSignals.

The problem is, eSignals and IG do show different courses/quotations for the same market at exactly the same time. Anyone else experienced problems like these? Normally the two courses happen to run in the same directions, but as i am thinking of dealing only 1 - 2 pips, i actually DO see a problem.

I really like IG and eSignals...but if i´d had to choose, i´d take eSignals. So...how and where do you trade the FTSE daily? Any recommendations, especially withing usage of eSignal?

I think the main problem is that IG calculates their quotation not only from 8 to 4.30, but uses special - don´t know any details- other markets to give you a approx. price-range of the ftse 24 h. I think this is why they have different cuotation - or is it eSignals that have a bad supplier, because they sit in us, time difference etc.?

Can anybody help? So...actually i´m looking for a alternative to IG Index, that´s somewhow related to eSignals (or the other way round)

Thank you very much and excuse my bad english...i´m totally out of training!!

 

[grantx]

Alpha,

IG, and all other spread-betters add a preimum to the market quotes (by widening the bid-ask spread) so you will pay more through them. There are numerous brokers who will let you trade the FTSE future (not cash) directly with the market through Direct Market Access (DMA).

When you say you are dealing 1 or 2 pips, do you mean you are looking to make 1 or 2 pips per trade (this is known as 'scalping')? If you are, you will need very low commissions and these are available if you have sufficient funds, eg £15000 - £20,000 (or Euro equivalent) minimum. The greater your funds, the lower the commissions.

Your English is fine; certainly better than my German.

Don't hesitate to ask if you have further questions.

Grant.

 

[AlphaBetaGaga]

Thank you very much for all the good information. But...actually I intended to trade the FTSE Cash...is there no possibility to get something like DMA for the FTSE Cash? Or something closer to eSignals Course than IG´s?

No, not real scalping - only smaller bit´s each trade - but of course i´d definately fancy lower pips then the one´s at IG Index!

Thank you for your nice answer (actually I am from Germany - how did you know? - and the Germany Forum´s are all filled with totally arrogant....well, not´s give it a name)

Have you got another idea? I just want to get as close to eSignals as possible...i don´t mind IG having a 24 FTSE-dealing possibility - for I won´t trade at that time - i only want two equal courses!

Thanks again, in advance
AlphaBetaGaga

 

[AlphaBetaGaga]

Excuse my english again. By writing "courses" i meant "quotes", of course.

 

[grantx]

ABG,

You're talking about the FTSE 'cash' index. This isn't traded as an instrument on any exchange. IG's prices representing FTSE cash is an 'over-the-counter' trade, meaning the price represents an agreement between buyer and seller (although if you disagree with IG's prices, there is nothing you can do about it).

I would suggest you consider the FTSE future - it is very simple to understand, and your E-signal will have an exact buying and selling price for it and you will be able to trade at those prices. And the spreads will be far better than IG's.

I guessed you were German by the flag shown under your name.

Grant.

 

[AlphaBetaGaga]

Haha...alright, that´s one good explanation! Thannk you very much, dear Grantx, i will definately take that advice! May i ask you if you have a bit of advice regarding a recommendable plattform for dealing the FTSE "Options" Market with real low spreads?

I´m slowly getting to "my" best fitting market, there´s a good chance it´s fhe FTSE Futures! So thank you very much again!

P.s. I´m half english, that the flag doesn´t show!

 

[grantx]

ABG,

The following use Direct Market Access (your orders go straight to the market from your computer).

If your trading funds are around € 7000, Interactive Brokers let you trade FTSE futures and options via . Relatively speaking their commissions are high. You could consider GNITouch (part of Man Global) as an alternative. My figure may need correcting.

If your funds are € 19,000 - € 25,000 trading via an arcade (from their offices or remotely from home)may provide even lower commissions. However, you will need to be trading a relatively high volume, at the very least 1000 contracts per month. Moreover, there are significant additional costs of around £600 per month minimum (if trading remotely/from home); higher if trading from their office.

Grant.