IG Index getting slippery

That's bad(n)

i dont know if slippage did occur on dma this time round - & agree it is a lot, but its another market notorious for slippage with dma also - so wld expect the same with SBs. orders on bid/offer were <5 when i was trading it. & you wld be pleased not to be trading it dma if this happened @25EUR a tick. another manic mkt. i found it imposs to scalp with cos of slippage, only traded swing.

wld be good if someone who had dma posted scrn print of the ladder to see the order vols.

do you keep your trade records? interesting to see how many times you have slippage on dax vs index/other mkt with bit more size on it.
 
Gold has been the worst for slippage. Every time it's a $1+.

The dax slip this morning surprised me. 10 big points.....

I'm interested to hear who you all use to trade with?
 
i dont know if slippage did occur on dma this time round - & agree it is a lot, but its another market notorious for slippage with dma also - so wld expect the same with SBs..

If you check their website, it says there they offer Germany 30 (that's what they call DAX presumably) with 1 point spread (DFB). They also mention competitive rates.

According to D70's post they filled his order with 11 points slippage!
That's more than 1000% increase of the initial cost (spread). Competitive rate in slippage more likely.

I don't know what stakes he is betting with them, but you can imagine if it's £100 per point - straight away there is a loss for him of -£1100 instead of -£100 without price moving at all.

That's why I think it's bad.
 
If you check their website, it says there they offer Germany 30 (that's what they call DAX presumably) with 1 point spread (DFB). They also mention competitive rates.

According to D70's post they filled his order with 11 points slippage!
That's more than 1000% increase of the initial cost (spread). Competitive rate in slippage more likely.

I don't know what stakes he is betting with them, but you can imagine if it's £100 per point - straight away there is a loss for him of -£1100 instead of -£100 without price moving at all.

That's why I think it's bad.

I'm going to do a little experiment. My IB account vs my IG account. Just to check the difference in fils. Will be interesting. I reckon between IG's spreads and slips, it could completely destroy an edge.

Back to that old adage.

A trader must be adequately capitalized. (So he can use a good broker!!) haha.
 
If you check their website, it says there they offer Germany 30 (that's what they call DAX presumably) with 1 point spread (DFB).

That's why I think it's bad.

i dont need to check their website, i agreed.

my point was this mkt slips all the time dma. i dont know exactly how IG are offsetting client posns - does anyone here know for sure? perhaps someone who has worked at IG can tell us - but if they are experiencing slippage then they will obv pass it on to the client.

its NFP day today ffs - mkts are super thin as standard, have you ever seen the mkt depth / liquidity on the ladders (dma) for FI / equities mkts in the hours leading up to the fig?

also have heard vols in indices are 25% lower than last year (i dont trade using volume data but sure someone who does can verify this), so mkts like dax wld be slipping more than when i traded it.
 
i dont need to check their website, i agreed.

my point was this mkt slips all the time dma. i dont know exactly how IG are offsetting client posns - does anyone here know for sure? perhaps someone who has worked at IG can tell us - but if they are experiencing slippage then they will obv pass it on to the client.

its NFP day today ffs - mkts are super thin as standard, have you ever seen the mkt depth / liquidity on the ladders (dma) for FI / equities mkts in the hours leading up to the fig?

also have heard vols in indices are 25% lower than last year (i dont trade using volume data but sure someone who does can verify this), so mkts like dax wld be slipping more than when i traded it.

Hi,

I started the thread because I had large slippage in gold a few times over several days (stop orders) and just wanted to hear others thoughts and problems they encounter. See if there are better brokers than others.

I know all about (ladders) markets thinning out, spreadbetters vs direct market. That isnt my issue. Was just wanting to compare notes.

I've just heard fxpro fil you at your limit or stop order, no quibles. Which is interesting. Sounds advantageous to the trader (especially someone that like me who trades everything via limit / stop orders).

Any other brokers you know of that fil at limit / stop order price?
 
Watch out for their tickets - they have changed them. I used to sit with my mouse button depressed and would lift up to enter the trade. This now doesn't work - you now have to click down and release in order to enter otherwise the Buy/Sell button won't initiate a trade.
 
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They must have made the change on purpose - it slows down my entry, but probably only by a millisecond.
 
Speaking of slipperiness, IG seemed to have some extra designer spikiness on the markets when they re-opened yesterday. US30 about 40pt higher than other SBs?!
 
Speaking of slipperiness, IG seemed to have some extra designer spikiness on the markets when they re-opened yesterday. US30 about 40pt higher than other SBs?!

Seriously, why does anyone have anything to do with bucket shop cash indices? I'm guessing tight spreads, but the problem is, what are the prices based on? Has anyone taken the trouble to find out how their cash index price is calculated? Ask them - you might be surprised.

Prices can not only be skewed, but effectively made up to suit the bucket shop, and you have absolutely no grounds for complaint if they are way out of whack. Which they apparently often are as I've seen this matter - "XYZ Bucketshop's DAX/FTSE/DOW etc cash index dozens of points off - raised countless times.

If you must use a bucket shop, at least use the futures contract so you've got something to compare prices with.

Better yet, don't use the bucket shop at all.
 
Speaking of slipperiness, IG seemed to have some extra designer spikiness on the markets when they re-opened yesterday. US30 about 40pt higher than other SBs?!

Hi Ross,

If you see something like this then tell all your friends to start placing trades including you.

This is how it works:

DMA (Direct Market Access) or SB (Spreadbetting) you can place a sell order on one and by way of using another SB or DMA use a buy order, it doesn't matter which way round. This is a simple arbitrary bet for which you cannot lose and are simply looking for the prices to then converge (come together).

Although very rare and sometimes not noticed or missed I have taken advantage of this on several occasions over several years with profitable effect, even after spreads. It also helps to teach the SB a lesson to keep their prices correct at all times.

You may be familiar with this in the gambling world of sport where one bookies gives different odds to another, place a bet at both shops (or online) and take the gains should it win, however in the world of the financial markets it only goes one of two ways - up or down and therefore makes it incredibly easy. In this scenario you are simply looking for the SB with the incorrect price to adjust it back to market level (which can happen very quickly). What ever the markets do, crash or boom they will underlay each other, its simply the convergence you are trading off and when they do, you cash in both simultaneously.

To open the bets its ideal if you can to have two computer setups so you can have both platforms open with the tickets ready to click buy/sell buttons at the same time. If it corrects before you have placed the other bet you stand a chance of losing (depending on market direction of course).

Lee Shepherd
 
Seriously, why does anyone have anything to do with bucket shop cash indices? I'm guessing tight spreads, but the problem is, what are the prices based on? Has anyone taken the trouble to find out how their cash index price is calculated? Ask them - you might be surprised.

Prices can not only be skewed, but effectively made up to suit the bucket shop, and you have absolutely no grounds for complaint if they are way out of whack. Which they apparently often are as I've seen this matter - "XYZ Bucketshop's DAX/FTSE/DOW etc cash index dozens of points off - raised countless times.

If you must use a bucket shop, at least use the futures contract so you've got something to compare prices with.

Better yet, don't use the bucket shop at all.

Who do you use?
 
Who do you use?

If you want a decent futures broker, two I think are worth looking at are Velocity and IB. Velocity are I think particularly good for someone starting out or trading fairly small, as it's simple with pretty good rates (standard is I think $4.52 per RT, but that includes platform and data costs). IB is pretty good all round I think, but might not be the best option for a beginner.

If you want spread betting, there are as far as I'm aware two worth considering. Both are (or at least claim to be, and the claim is unequivocal) DMA outfits that simply route your trades through them, without interference. So you should be getting genuine genuine DMA, your orders actually enter the market and show up on the book etc, they cannot profit from your loss and so on. One is ibetfinancials, which is part of Kyte Group. This looks good, although requirements are quite high - account minimum is large, you've got CQG which is a great platform but costs about £400 a month and so on. However, the worst thing is that they don't segregate client money.

The other is KP Markets, who are new in the UK and probably a better choice for beginners or smaller accounts. The platform is a bit crappy but it's included in the price, and they do segregate.

The downside to DMA SB is cost versus a standard futures broker. Your RTs are going to be a few bucks more, which might or might not be a problem, depending. If you're scalping and taking 100 trades a week, it could outweigh any tax advantages, for example.

Those are 4 I'd say were worth looking at anyway, but as you know it depends on your circumstances and requirements.

By the way, I didn't mention Prospreads, because they're not (and in fairness do not claim to be) DMA.
 
If you want a decent futures broker, two I think are worth looking at are Velocity and IB. Velocity are I think particularly good for someone starting out or trading fairly small, as it's simple with pretty good rates (standard is I think $4.52 per RT, but that includes platform and data costs). IB is pretty good all round I think, but might not be the best option for a beginner.

If you want spread betting, there are as far as I'm aware two worth considering. Both are (or at least claim to be, and the claim is unequivocal) DMA outfits that simply route your trades through them, without interference. So you should be getting genuine genuine DMA, your orders actually enter the market and show up on the book etc, they cannot profit from your loss and so on. One is ibetfinancials, which is part of Kyte Group. This looks good, although requirements are quite high - account minimum is large, you've got CQG which is a great platform but costs about £400 a month and so on. However, the worst thing is that they don't segregate client money.

The other is KP Markets, who are new in the UK and probably a better choice for beginners or smaller accounts. The platform is a bit crappy but it's included in the price, and they do segregate.

The downside to DMA SB is cost versus a standard futures broker. Your RTs are going to be a few bucks more, which might or might not be a problem, depending. If you're scalping and taking 100 trades a week, it could outweigh any tax advantages, for example.

Those are 4 I'd say were worth looking at anyway, but as you know it depends on your circumstances and requirements.

By the way, I didn't mention Prospreads, because they're not (and in fairness do not claim to be) DMA.

Thanks very much Leopard. That's great input for everyone.

I hadnt heard of either ibetfinancials or KPmarkets.
 
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