IG INDEX stealing points?

[Black Swan]

I would be really interested in traders who use IGINDEX to trade to respond.

Like i said on 3 of my 5 brokers i get slipped max a pip if that. (we are ignoring news trading) the 2 i get slipped if i trade in a big tick up. Thats it!

If i get slipped 2 trades in a row in any of the platforms I get annoyed... this hasn't happened for over 2 months!

So back to the original question! The list of slippages i have went through? Am i to expect this consistently or is this something out of the ordinary. I trade large sums so slippage is very important to me.... obviously as a % its the same... it just sounds more when its as a actual ***perPt.

Use them all the time have done for 2+ years, hardly had a problem, never anything serious. They love me, I love them. TBH I think you're a plant of some description, I mean, 8 posts to your name and all of a sudden you kick of versus IG?

 

[Black Swan]

Call me cynical, but I think slippage with SB increases the higher the stake. At £1 per pip/pt, no problem! Another factor is that some (IG and GFT inc) have variable spreads on FX, so a few pips can easily go astray.

I don't reckon so, folk always blame the platform (as opposed to themselves) for being utterly 5hite traders, just part of the industry I guess...

This is so boring now though, like someone stated up thread anyone trying to scalp, for example GBP/JPY, with an SB firm needs their nuts re-attaching. You can easily find a way of playing with and playing onside with the SB firms and be v.profitable, not rocket science is it?

BTW on IG's ticket for the past month or so they've shown the spread you pay when you pull the trigger. I must have taken in the region of 100 trades this week, nada problems on the spread, price may have moved a few pips but then again I can live with an average 35 as opposed to 38, just part of the price of doing business. On occasion the GBP/JPY spread has even been as low as 3, hurrah :clap: then the price moves against you...

 

[montmorencyt2w]

On behalf of whom, for example?



Agree, more evidence needed though.

 

[montmorencyt2w]

I don't reckon so, folk always blame the platform (as opposed to themselves) for being utterly 5hite traders, just part of the industry I guess...

This is so boring now though, like someone stated up thread anyone trying to scalp, for example GBP/JPY, with an SB firm needs their nuts re-attaching. You can easily find a way of playing with and playing onside with the SB firms and be v.profitable, not rocket science is it?

Isn't it?

BTW on IG's ticket for the past month or so they've shown the spread you pay when you pull the trigger. I must have taken in the region of 100 trades this week, nada problems on the spread, price may have moved a few pips but then again I can live with an average 35 as opposed to 38, just part of the price of doing business. On occasion the GBP/JPY spread has even been as low as 3, hurrah :clap: then the price moves against you...

C'est la vie...........







I suppose.

 

[littleluca]

Look I am not a plant! I came on looking for a genuine opinion on IGindex slippage!

Like I said, I like the layout...
Like I said, I want to use them for anything but scalping. On average I have about 30 trades open at one time.
I just want to understand what slippage others have experienced! I have purposefully avoided mentioned the other brokers I use to stop this being a comparison of the brokers I use and IGINDEX.

I am partial to Igindex. But I need to understand what slippage I am to expect. I have placed over 200 trades with them. But I find that the average slippage is at least 2-3 pts above spread and GSO extra! So I am left to ask others what their experience is...

Black Swan, I am interested, I do not want to write them off, I have had a reasonable discussion with someone at IGindex and they said I shouldn't be getting this slippage. They are looking into it....

I am just interested in a aggregated view of them. So far it is yourself and one or 2 others who have responded to this... I would love to hear from 10 or so ppl... I want to be proved wrong or understand are there instruments that slippage occurs on more often than not...
TIA
LL

 

[Jack Hughes]

Are you using their charts to gauge the slippage? Haven't tried IG recently, but when I did their charts and prices didn't always correlate. That's one of the reasons why I stopped using them, in fact.

 

[littleluca]

I am gauging it purely off the price I click on when I buy/sell then looking at ticket to see what price it filled at!! I am going to be trading small amounts with them next week to get a average result! Would still appreciate forum feedback!
I just re read your reply Black Swan. I am interested as too why IGINdex like you?
TIA

 

[Jason101]

Used Ig for over a year, also use GFT and ETX. Never found problems with any of them. Having said that I trade smaller amounts per pip for longer periods of time than you by the sounds of it.

Jason

 

[Black Swan]

I am gauging it purely off the price I click on when I buy/sell then looking at ticket to see what price it filled at!! I am going to be trading small amounts with them next week to get a average result! Would still appreciate forum feedback!
I just re read your reply Black Swan. I am interested as too why IGINdex like you?
TIA

You have to accept that this is not an exact science, here's how I look at it, having just analysed my past months performance...I made pips, a lot of them, mainly from SB forex and light crude. Could I have made more? Hell yes. Did I get the odd bad fill (one or two pips over what I thought when I pulled the trigger? Sure did. But working off 1hr+ TFs, staying in trades for up to 48 hours, then the entry price (by one or two ticks) aint that important. If I could have made 130 pips but choose to exit making only 100 pips then so what if it's 95 or 93...do I blame pro real time charts for encouraging me to get out early?

You know if you embrace and accept that this is a probability based exercise then probably you'll get a few poor fills, (out of 350 trades in Jan maybe 5%) you'll probably be in a loss most trades you take the second you pull the trigger, you'll probably lose the paranoia the better a trader and more profitable a trader you eventually become...strange that...

And if you can't make SB work then try DMA, if you can't make DMA work then give it up, you havn't got what it takes

 

[montmorencyt2w]

I am gauging it purely off the price I click on when I buy/sell then looking at ticket to see what price it filled at!! I am going to be trading small amounts with them next week to get a average result! Would still appreciate forum feedback!
I just re read your reply Black Swan. I am interested as too why IGINdex like you?
TIA

I have not actively used my IG account for quite some time, but as it happens, I am going to start using it again soon. I didn't use to notice any particular problem, but I was very new to the game then, and probably wouldn't have known what to look out for.

I will be particularly looking out for this now.

I have to say I am favourably disposed towards IG for a number of reasons, although their spreads aren't the best.

 

[Sunshine On Leith]

One thing people dont ever seem to talk in all these repetitive negative threads about SB firms are the instances when SB firms make their prices better than the market.

I have bloomberg feeds for work purposes and use SB platforms for personal trading. Often, If Im lucky I can trade in and out of a position without paying any spread in real terms.

For example, Ive just watched the DAX real price on Bloomberg versus the IG index prices and I only had to wait 45 seconds for an opportunity to buy the on IG 0.36 points cheaper than the real market level.

There seems to be a belief that SB firms are cleverer than everyone else and able to manipulate the prices in their favour all the time but this isint true. Of course they will have algorithims in place to skew their prices to suit their book but theres no way this can work against you everytime. I reckon about 50% of the time I trade the DAX I can be filled comfortably within their 2 pip spread when monitoring against the real market, which is what really counts.

 

[montmorencyt2w]

That's good to hear S-o-L. I've not done any measurements and I don't have Bloomberg, but I've certainly had fills (with SB firms generally, not talking about IG) that seemed to work in my favour.

 

[Sunshine On Leith]

I only use IG for my index trades, but have a City Index account for my options.

Out of interest, I just opend City and immditiately there is an opportunity to buy the DAX on the touch. City Index offering at 5623.80 and the market was at 5623.84.

Ive never used any other firms but would bepretty confident the same things happen.

Of course there are plenty times that it works against me and their reference point is skewed to my disandavtange so I end up paying more than the 2 bp spread in real terms but it feels to me like it evens itself out.

The point is, Sb firms dont have the ability to skew the prices in their favour efficiently all the time. There are times when it suits the punter. I feel that often people are too quick to blame the SB firm rather than themsleves. If your not a scapler and youve got a stragy that works spread betting isint going to stop you. (Unless these stories about frozen platforms, telephone referrals etc are true but Ive not experienced this).

 

[montmorencyt2w]

Well, it would seem prudent to have several accounts with the most reputable firms one can find, even if this means not always getting the best spreads all the time.

 

[Black Swan]

One thing people dont ever seem to talk in all these repetitive negative threads about SB firms are the instances when SB firms make their prices better than the market.

I have bloomberg feeds for work purposes and use SB platforms for personal trading. Often, If Im lucky I can trade in and out of a position without paying any spread in real terms.

For example, Ive just watched the DAX real price on Bloomberg versus the IG index prices and I only had to wait 45 seconds for an opportunity to buy the on IG 0.36 points cheaper than the real market level.

There seems to be a belief that SB firms are cleverer than everyone else and able to manipulate the prices in their favour all the time but this isint true. Of course they will have algorithims in place to skew their prices to suit their book but theres no way this can work against you everytime. I reckon about 50% of the time I trade the DAX I can be filled comfortably within their 2 pip spread when monitoring against the real market, which is what really counts.

Thanks for adding this to the debate...so come on which SB firm do you work for; IG, City, CS...
I also trade forex with Alpari, and surprise, surprise the prices I see on Alpari, through meta trader, are as near as damn it the same as IG (bar a pip), who'd have thunk it eh?
The SB firms win because most SB *punters* can't trade well...endex...if that changes so will they.

 

[littleluca]

I will report back when my account is changed over.
Black Swan you will be aware of the Virtual Dealer if you use metatrader so lets be realistic!

 

[Jack Hughes]

For example, Ive just watched the DAX real price on Bloomberg versus the IG index prices and I only had to wait 45 seconds for an opportunity to buy the on IG 0.36 points cheaper than the real market level.

Interesting, but it won't help much if the SB price is consistently out in the same direction because of their fair value skew.

 

[montmorencyt2w]

The SB firms win because most SB *punters* can't trade well...endex...if that changes so will they.

What do you mean "so will they [change]"?

You mean they'll really have to start cheating then, eh?

 

[Sunshine On Leith]

Interesting, but it won't help much if the SB price is consistently out in the same direction because of their fair value skew.

Yes agreed. But in my experience it doesnt tend to stayed skewed in one way for the life of my trade (usually never less than an hour).

At a guess I reckon about half of my trades benefit to some degree by the skew being in my favour on the way in our out (or both if Im very fortunate).

Obviously the style of trading is crucial. If you are high frequency, low shelf life momentum trader then the skew could well work against you more often than not. But as I think most people agreee, those types of traders shoulnt be spread betting anyway.

My originial point was really just to highlight that the SB firms pricing models are not infalible by any means and there are opportunities there if your trading style suits it.