IG Index getting slippery

[D70]

Just a heads up to those that use IG Index.

Pay close attention to where you get filled. I have noticed increasing slippage of late.

On inquiry with them. For all 3 occasions (that I had raised with them) they blamed a quick market move for my slippage.

The 3 occasions were on 3 separate days when I had stop orders in spot gold and was slipped more than $1 each time. (Spread is $0.5)

I'm keeping a careful eye on other markets now.

Anyone else experiencing same?

 

[The Leopard]

Just a heads up to those that use IG Index.

Pay close attention to where you get filled. I have noticed increasing slippage of late.

On inquiry with them. For all 3 occasions (that I had raised with them) they blamed a quick market move for my slippage.

The 3 occasions were on 3 separate days when I had stop orders in spot gold and was slipped more than $1 each time. (Spread is $0.5)

I'm keeping a careful eye on other markets now.

Anyone else experiencing same?

Gold can be like that, in fairness.

When I used them I kept a record of slippage. For what it's worth, it was rare and did go both ways.

I'm not saying you're wrong, but I have to say that my experience on this matter wasn't a bad one at all. Things might have changed, of course.

 

[ZEN archer]

Just a heads up to those that use IG Index.

Pay close attention to where you get filled. I have noticed increasing slippage of late.

On inquiry with them. For all 3 occasions (that I had raised with them) they blamed a quick market move for my slippage.

The 3 occasions were on 3 separate days when I had stop orders in spot gold and was slipped more than $1 each time. (Spread is $0.5)

I'm keeping a careful eye on other markets now.

Anyone else experiencing same?

Maybe my experience of slippage against me most of the time is a pure coincidence that keeps repeating on and on and they don't have special software that does it?:innocent:

By above mentioned coincidence spread of 1 point becomes 3 points or more most of the time.

 

[D70]

Hi Leopard,

Who do you use now?

I agree that gold (especially) can be a thin market. My biggest disappointment was IG Index lack of detail when coming back to me. They just chose the cop out line of "market moved fast". Come on guys, we're not all idiots here.

Tell me something meaningful... it was thin, it gapped, here are the prints, here is our ping to market..... not just...... durrrrr, it moved quickly.

Disappointing.

I'm always trying to make sure who I trade thru is trying their best and on this interaction I felt not. (I usually never call brokers).

More than happy to take my business elsewhere! There are hundreds of brokers out there. And if this thread suddenly unearthed a whole load of others experiencing problems. I'd jump ship right now.

 

[D70]

Whack a naughtynifty a tick on crude with ig....now i say that's what ya call slippage boooyyyy!

Have u got examples?
What order type did you use?
Did you call them?

 

[The Leopard]

Hi Leopard,

Who do you use now?

I agree that gold (especially) can be a thin market. My biggest disappointment was IG Index lack of detail when coming back to me. They just chose the cop out line of "market moved fast". Come on guys, we're not all idiots here.

Tell me something meaningful... it was thin, it gapped, here are the prints, here is our ping to market..... not just...... durrrrr, it moved quickly.

Disappointing.

I'm always trying to make sure who I trade thru is trying their best and on this occasion I felt not.

More than happy to take my business elsewhere! There are hundreds of brokers out there.

I think you're always going to have this concern with a bucket shop. At the end of the day, you're trading their market, not the real one. No matter what, it's difficult to have full confidence in this model.

Again to be fair to IG, when I traded their version of futures the prices were good and there were no suspicious spikes or whatever. Costs are high though - two ticks for ES and four ticks for YM and NQ.

I'd go with a regular futures broker like Velocity or IB, or if you want spread betting try FP Markets or iberfinancials. Costs are higher than a standard broker, but not bad, you get to trade the real market (all orders are actually sent through) and of course you get the spread bet wrapper.

 

[D70]

I think you're always going to have this concern with a bucket shop. At the end of the day, you're trading their market, not the real one. No matter what, it's difficult to have full confidence in this model.

Again to be fair to IG, when I traded their version of futures the prices were good and there were no suspicious spikes or whatever. Costs are high though - two ticks for ES and four ticks for YM and NQ.

I'd go with a regular futures broker like Velocity or IB, or if you want spread betting try FP Markets or iberfinancials. Costs are higher than a standard broker, but not bad, you get to trade the real market (all orders are actually sent through) and of course you get the spread bet wrapper.

Hi Leopard,
Agree with you. I turn to spreadbetting (IG) when I'm testing something out and dont want the full power of IB (my main broker).

 

[The Leopard]

Hi Leopard,
Agree with you. I turn to spreadbetting (IG) when I'm testing something out and dont want the full power of IB (my main broker).

In that case, for the purpose you're talking about IG is the best of the bucket shops in my opinion.

 

[D70]

In that case, for the purpose you're talking about IG is the best of the bucket shops in my opinion.

Yeah, that's what I used to believe also. Just hope they dont let things slip.
They used to impress me (when checking a level, they would send me a bloomy screen shot).

[Just seen post above with same comment]

 

[D70]

This happened around a year ago.
I was often shafted for 4+ ticks (on stops) or so but on one occasion it was 12 ticks and in a relatively slow market. On that occasion and one other I contacted their C.S and got an almost instant reply and a nice little Bloomberg chart showing me that the market didn't trade at my stop price so I was filled at the next blah, blah, blah. To be fair crude is a bit of 'kin animal too.
I no longer trade crude:whistling

Oanda Europe offer a 3 tick spread most of the time and in my experience are reasonable with their slippers, might be worth a look if you're willing to trsde with another BS. edit: If you trade with IB then maybe not

Yeah, agree with what everyone is saying. Plus, I'm a realist and know that markets do move. It was more the way in which they handled my query that worried me. Know what I mean....

 

[rsh01]

The 3 occasions were on 3 separate days when I had stop orders in spot gold and was slipped more than $1 each time. (Spread is $0.5)

trading DMA (at a prop house) gold futures i've had slippage of circa 20 ticks on a number of occasions and so left it alone when it was choppy - you will get at least this with an SB i assume?

i still trade gold since leaving the prop house & now use IG, but i trade it very selectively - a handful of trades a month max. i haven't experienced any signficant slippage(>5 ticks so far).

 

[D70]

trading DMA (at a prop house) gold futures i've had slippage of circa 20 ticks on a number of occasions and so left it alone when it was choppy - you will get at least this with an SB i assume?

i still trade gold since leaving the prop house & now use IG, but i trade it very selectively - a handful of trades a month max. i haven't experienced any signficant slippage(>5 ticks so far).

By ticks do you mean .50 $ ? or .05 $ ?

 

[rsh01]

By ticks do you mean .50 $ ? or .05 $ ?

comex gold futures tick size is $0.10.

 

[alan5616]

Guys,

All spread betting cos. and, market makers, exist to take your money. Do not believe the BS about them making their profit from the spread. They want you to lose and will do any amount of price manipulation to ensure that this happens.

If we had an FSA, here in the UK, with balls, most of these crooks would have been closed down years ago. If the UK government, genuinely, wants to make a hole in our budget deficit, then start fining the MMs & SBs for ripping off clients. It could accumulate to quite a substantial amount

 

[D70]

Check this one!

Order in dax 6646 filled at 6635!
Nice.

 

[The Leopard]

Check this one!

Order in dax 6646 filled at 6635!
Nice.

That is slippery!

 

[D70]

Usual excuses.
I'm going to have to change to direct market soon. Then at least I'll know the slippage is real.

 

[ChocolateDigestive]

in 90% of cases bucketshop = pure theft

the only way I have ever found to profit from them is to use super wide stops (with no intention of letting them get hit) and then go about your intraday strategy. I only use the 1 point spread markets this seems to keep me out of fooktard fills.

 

[The Leopard]

in 90% of cases bucketshop = pure theft

the only way I have ever found to profit from them is to use super wide stops (with no intention of letting them get hit) and then go about your intraday strategy. I only use the 1 point spread markets this seems to keep me out of fooktard fills.

I agree about bucket shops, and agree that if you are serious DMA should really be the way to go.

But in fairness again, I kept very good records when I used IG and I can't remember ever having a dodgy spike hit my stop. Every trade was checked against the real market and Ican't think of a single incident where my stop was hit that wouldn't have been hit had I been trading the actual futures.

 

[ChocolateDigestive]

I agree about bucket shops, and agree that if you are serious DMA should really be the way to go.

But in fairness again, I kept very good records when I used IG and I can't remember ever having a dodgy spike hit my stop. Every trade was checked against the real market and Ican't think of a single incident where my stop was hit that wouldn't have been hit had I been trading the actual futures.

that's been my experience of IG for my chump change tardes. In all seriousness if you are intraday trading for a living you cannot use a 'broker' or 'bucketshop' where the majority of traders lose, position trading is different. you need a direct access broker (is there any other kind) who only deal with profitable traders you make their money from commissions and pass through data and exchange/reg fees. otherwise its a bit like entering the indy500 in shi55y old banger and thinking you have a chance of getting on the podium.