IG Index won't give me an account...

Black Swan said:
Nope, hardly any difference, a pip maybe..You just have to trade with a stop, which you should at your level..
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Black Swan, you surely don't know what you're talking about... if you don't know the answer please... no need to post (it's not a post competition).
With limited risk account all your trades will have guaranteed stop losses attached and you have to pay for them.
For FTSE100 it's 2 points and for the Dow it's 3... so I agree it's quite expensive to trade like than.
I now have normal account and it's quite good... I did use GSL on the dow and ftse100 only so I'm not sure about premium on the other markets.
 
lancenicolase said:
Black Swan, you surely don't know what you're talking about... if you don't know the answer please... no need to post (it's not a post competition).
With limited risk account all your trades will have guaranteed stop losses attached and you have to pay for them.
For FTSE100 it's 2 points and for the Dow it's 3... so I agree it's quite expensive to trade like than.
I now have normal account and it's quite good... I did use GSL on the dow and ftse100 only so I'm not sure about premium on the other markets.
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Wtf..why don't you try reading the whole thread you total dick head... I've told the guy he will get accepted for a limited risk but that he has to pay for a GS, at his stage of trader genesis he shouldn't be trading without a stop anyhow and should only be swing and or position trading ergo a 2-3 pip GS irrelevant, now just fook off to lurking for a while eh, each time you get out of your depth you make a right tw@t out of yourself..
 
the hare said:
If I was paying an extra 3 pips per trade I'd go from making +100% per annum, to blowing my account, and I'm deadly serious

How the hell can anyone make money on that basis
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Sigh..

Swing trading...96 pips profit or 99.....?
 
I remember in the old days at ig (remember the client interface?) when a limited risk dow spread out of hours was about 20!
 
I'm in agreement with the hare, an additional 3 pips cost on every trade would be very significant. It's my money, and if I can trade a spread of less than 1 pip +comm, why would ever consider trading for a 4 pips?! It's absurd. There's no reason to ever do this even if you're swing trading. It makes less of an impact for swing trading, but it still makes an impact.
 
lancenicolase said:
Swan, stop posting your rubbish... if you have nothing to say, please stay quiet.
It's very difficult to find info here as you just spam every single thread here... get a life.(n)
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Ermm..wtf are you on you prick..do I follow you around the forums like a lost puppy

Facts, if the lad can't get a plus account with Ig then it's a total waste of time re applying, in fact given the fact it's a credit search and score they could put adverse credit information versus him because it's fraud, ok dick head?

Now if he wants an Ig account his only option is the limited risk, which Ig would argue has an uncessary bad rep from dick heads like you who don't realise it's value.

You get as near as damn it the same spreads as the plus account, but you have to pay a couple of pips for the GS, oh no, shock horror, that'll ruin everything..really? How so, dick head? Look, if your a newbie, like the op and you (actually you are just useless) he should have a stop whether or not he wants one or not. He should not be trading on anything other than swing longer term time frames...
Now several guys have con on this thread without answering the fookin question just rating on about how their edge won't work if they give back two pips on every trade, well hey, guess what, if that's the case you shouldn't be using an SB firm in the first instance, or maybe you should, cos you must be gambling...
 
Black Swan said:
Ermm..wtf are you on you prick..do I follow you around the forums like a lost puppy

Facts, if the lad can't get a plus account with Ig then it's a total waste of time re applying, in fact given the fact it's a credit search and score they could put adverse credit information versus him because it's fraud, ok dick head?

Now if he wants an Ig account his only option is the limited risk, which Ig would argue has an uncessary bad rep from dick heads like you who don't realise it's value.

You get as near as damn it the same spreads as the plus account, but you have to pay a couple of pips for the GS, oh no, shock horror, that'll ruin everything..really? How so, dick head? Look, if your a newbie, like the op and you (actually you are just useless) he should have a stop whether or not he wants one or not. He should not be trading on anything other than swing longer term time frames...
Now several guys have con on this thread without answering the fookin question just rating on about how their edge won't work if they give back two pips on every trade, well hey, guess what, if that's the case you shouldn't be using an SB firm in the first instance, or maybe you should, cos you must be gambling...
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1) He doesn't need to go with IG he can apply elsewhere and it's not that hard to get a spreadbet account is it?

2) As near as damn it the same spreads is incorrect. It's many times the spread. It's nowhere near at all. If I buy a pint for £3.50, and the barman says it's £14, then I don't think many customers will thinks it's "as near as damn it the same" price. It's not even close. You pay the going rate or thereabouts. If you pay more, you're a chump.

3) You're right he should have a stop. But it doesn't need to be guaranteed and pay extra for. What he needs more is understanding of the market he's trading.

4) He shouldn't be trading on long timeframes, he should probably be demoing and not trading at all. But if he DOES decide to trade, he should look for a way of trading that is reliable, and minimises the costs.

5) I don't understand anyone who trades their own money who would rather pay 3 or 4 times the spread, regardless of the timeframe or how they are trading.
 
It isn't 3-4 times the spread, stop exaggerating to make a lame point, you're better than that. He would get charged the same spread but an extra 2 pips for a guaranteed stop, the word guaranteed is the crucial aspect, that's what he's paying Ig for, not extra spread, he pays Ig extra so if he's wiped out he owes them fook all. Not a bad insurance policy premium.

At first he'd be betting no more than what, a quid a pip, perhaps 85 pip stop with 150 take profit target..so how's an extra 2 pips gonna mess with that?

If he's past demo and wants to trade the absolutely only time frames he should be on are higher, 2 hour and above, anything else is noise. Anyone who uses sb firms to trade on low tf's deserves the raping they get..

Now this isn't about me or how I trade, I only trade fx and only use ECN/stp/ndd firms..it's about him. If he wants IG and wants his losses to be absolutely limited to the level of his account funding then the Ig ltd risk aint the worst choice out there is it?
 
I took it on faith from scose-no-doubt that it was an extra 3 pips. I don't trade with IG, but I have done in the past, and remember guaranteed stops being a similar amount extra on spread to what scose mentioned.

I don't think it changes the point much. I realise that you're seeing the OP as someone who wants to trade and should accept what's on offer, because he's refused otherwise. And something is better than nothing.

However, in my view, if you can't open a spreadbet account, which only requires a job or a decent amount of savings, then you shouldn't be trading at all, and should go get a job and forget the idea. But if you DO insist on trading anyway, then minimise costs. Unless you're continually holding trades over the weekend, then the amount saved form having the smaller spread far outweighs the amount saved from having guaranteed stops.
 
Black Swan said:
It isn't 3-4 times the spread, stop exaggerating to make a lame point, you're better than that. He would get charged the same spread but an extra 2 pips for a guaranteed stop, the word guaranteed is the crucial aspect, that's what he's paying Ig for, not extra spread, he pays Ig extra so if he's wiped out he owes them fook all. Not a bad insurance policy premium.

At first he'd be betting no more than what, a quid a pip, perhaps 85 pip stop with 150 take profit target..so how's an extra 2 pips gonna mess with that?

If he's past demo and wants to trade the absolutely only time frames he should be on are higher, 2 hour and above, anything else is noise:LOL:. Anyone who uses sb firms to trade on low tf's deserves the raping they get..

Now this isn't about me or how I trade, I only trade fx and only use ECN/stp/ndd firms..it's about him. If he wants IG and wants his losses to be absolutely limited to the level of his account funding then the Ig ltd risk aint the worst choice out there is it?
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Black Swan, plenty of people trade on time frames lower than 2 hour and make money with SB.
 
brasil2000 said:
Black Swan, plenty of people trade on time frames lower than 2 hour and make money with SB.
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Firstly you'd have to define plenty but here's the rub to your pre conception, industry insiders, such as Simon from CS, will testify that approx. 20% of his clients are successful, that number being down lately due to the correction, they'll also testify that the majority of their successful clients do not actually trade the way 'we do' in order to have success, those that do swing and or position trade...

The number of traders who scalp the ftse :LOL:(always creases me up that one) to make a few quid is a tiny percent, similar those who attempt to intraday trade day FX. The majority of successful spread betters swing and or position trade...and that is a fact. Take it, leave it, whatever..I'm fookin bored with this thread..
 
Shakone said:
I took it on faith from scose-no-doubt that it was an extra 3 pips. I don't trade with IG, but I have done in the past, and remember guaranteed stops being a similar amount extra on spread to what scose mentioned.

I don't think it changes the point much. I realise that you're seeing the OP as someone who wants to trade and should accept what's on offer, because he's refused otherwise. And something is better than nothing.

However, in my view, if you can't open a spreadbet account, which only requires a job or a decent amount of savings, then you shouldn't be trading at all, and should go get a job and forget the idea. But if you DO insist on trading anyway, then minimise costs. Unless you're continually holding trades over the weekend, then the amount saved form having the smaller spread far outweighs the amount saved from having guaranteed stops.
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Look Shakey, I've got a lot of time for you and you views but you know how I hate threads that go around in circles..

I agree that he doesn't have to use Ig, there's CMC with cracking spreads ATM, not sure if they charge for a GS or have one. And spreads are important, typical spreads not headline,
 
Lol now now children, IG is fine on limited risk, can do 50p a point on currencies, the extra spread is 3 pips for the GS, think it is somet like .3 or .5 on S&P but S&P is a tenner a point minimum, out of my league, minimum distance for stops vary at different time, other day S&P went from minimum 3.5 points to 15 points at some point, back at 3.5 now, EUR/USD has a minimum stop of 10 points, you just gotta work it all into what you wanna risk, Swan makes a good point, newb = better off swing trading, I aint mad so I haven't risked a great deal while I am learning, but how can one expect to make money day trading without a lot of experience, am starting to bore myself now:sleep: bye

Ring IG or whoever and they'll be happy to tell you the ins and outs of the whole shebang:smart:
 
Black Swan said:
Firstly you'd have to define plenty but here's the rub to your pre conception, industry insiders, such as Simon from CS, will testify that approx. 20% of his clients are successful, that number being down lately due to the correction, they'll also testify that the majority of their successful clients do not actually trade the way 'we do' in order to have success, those that do swing and or position trade...

The number of traders who scalp the ftse :LOL:(always creases me up that one) to make a few quid is a tiny percent, similar those who attempt to intraday trade day FX. The majority of successful spread betters swing and or position trade...and that is a fact. Take it, leave it, whatever..I'm fookin bored with this thread..
Click to expand...

If you readed my post I did not say anything about trying to scalp using spreadbetting, unless you consider any time frames under 2 hours to be scalping. you have been posting in other threads how SB companies are improving and their typical spreads have been reduce to near DMA market spreads,so cost of the trade is not an problem.In lots of your posts you have an bias towards swing trading,If that's the only trading style and trading above 2hours that works for you,great for you.But to dismiss other types of trading because you're unable to profit from them,is just protecting your ego.:idea:
 
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