Best Thread IG Index - Custom Betting

[BigInTheCity]

Hi

I was just wondering if anyone uses the custom betting facility offered by IG index on a daily basis with an account of say £10,000+?

Do you have any problems placing bets, particularly fast moving bets of say £100+?

In fact, has anyone had any issues, accounts closed, bets not honoured, etc, when using this facility?

Thank you

BigInTheCity

 

[tar]

Hi

I was just wondering if anyone uses the custom betting facility offered by IG index on a daily basis with an account of say £10,000+?

Do you have any problems placing bets, particularly fast moving bets of say £100+?

In fact, has anyone had any issues, accounts closed, bets not honoured, etc, when using this facility?

Thank you

BigInTheCity

dont worry they will not close your account , the question is will u make money ?

 

[donaldduke]

Very hard to make money as the hidden spread is at least 10%.

Regular binaries are around 5% spread most of the time.

I use the word 'hidden' as the they dont quote 2 way markets on all bets so it is not obvious what the spread is.

However you can see the spread if you look at opposite (touch/no touch bets) for the same markets and expiries. The spread is huge most of the time.

 

[anley]

Very hard to make money as the hidden spread is at least 10%.

Regular binaries are around 5% spread most of the time.

I use the word 'hidden' as the they dont quote 2 way markets on all bets so it is not obvious what the spread is.

However you can see the spread if you look at opposite (touch/no touch bets) for the same markets and expiries. The spread is huge most of the time.

See, this is why I always say that message boards are the internet's greatest invention.

Reason - You get the proper answers/the inside gossip from the man on the street rather than a) the company's version or b) have to work it out yourself.

Sure, there's a load of crap written as well but time sorts that out.

Nice post DD, although I have no interest in trading these things but if I did then my money would be subtly transferred to IG's account :cheesy:

Got to give credit to IG though for coming up with such a tool. But whenever a finance company offers something new, look hard for the catch because 90% of the time there is one.

 

[BigInTheCity]

Thank you for all the replies.

Well I decided to start small with money I can afford to loose.

Only trading EUR/USD fast moving bets.

Week one, started with £400, ended with £660.

Week 2......................we shall see!

 

[anley]

Big at 10% bid-offer spread it's not going to take too long before you're SmallInTheCity, however good you are. Basically it's impossible to make money overtime with those sorts of costs.

 

[BigInTheCity]

haha Anley, BigInTheCity + 10% Spread = BankruptInTheCity!

 

[BigInTheCity]

Week one, started with £400, ended with £660.

Week two done, ended with £750. Decided to take alot less risk in week 2 and going forward!

Week Three.................

 

[jansher21]

City Index stopped all Binaries, is there any other broker other than IG doing binaries?

Week one, started with £400, ended with £660.

Week two done, ended with £750. Decided to take alot less risk in week 2 and going forward!

Week Three.................

 

[BigInTheCity]

Really? Did they give a reason why?

 

[kubek]

City Index stopped all Binaries, is there any other broker other than IG doing binaries?

Finspreads

 

[BigInTheCity]

Week 3 over!

£750 to £882!

Decided to finish early, not push my luck on a Friday afternoon! haha

 

[MitchT]

What are you betting on, and with which instrument, and what's your strategy?

 

[BigInTheCity]

Hi Mitch

Only trade EUR/USD, fast moving bets between 2-15mins at support/resistance levels.

Big

 

[MitchT]

Interesting, thanks.

 

[BigInTheCity]

I have found over the years, that I am far more successful trading by focusing on EUR/USD only, with no indicators, just basic support and resistance levels. I do draw trendlines on my charts, however, I never trade them, I just bare in mind where they are in relation to the horizontal support and resistance levels.

Keep it as simple as possible in my humble opinion!!!!

 

[MitchT]

I agree about keeping it simple. I think we can blind ourselves by learning too much about sophisticated indicators and techniques.

 

[BigInTheCity]

Yep, so true MitchT.

Having said that I made a loss this week and gave up all last weeks profit! Whoops! haha

Week 1 = £400 to £660 +65%
Week 2 = £660 to £750 +13%
Week 3 = £750 to £882 +17%
Week 4 = £882 to 753! -14% :-(
Week 5 = £753 to.......................

 

[anley]

You might have lost but IG haven't.

Just a matter of time before the majority of your money is transferred to them via the 10% spread even if your trades are generally right (possible to be right on the market but still lose money due to costs).

Good luck anyway!

 

[BigInTheCity]

£753 to £600!

I'm taking my money and running before it ends up back at my initial balance of £400. LOL

50% profit will do nicely!