IG Market Trading Platform (Not Recommended)

[h_a]

Anyone trading on Ig Markets Trading Platform must read there terms and conditions before start trading, below is one clause you must put your attention to,

Without prejudice to any other Terms of this Agreement, we will have no
> liability to you in relation to any loss that you suffer as a result of
> any delay or defect in or failure of the whole or any part of our
> Electronic Trading Services' software or any systems or network links or
> any other means of communication. We will have no liability to you,
> whether in contract or in tort (including negligence) in the event that
> any computer viruses, worms, software bombs or similar items are
> introduced into your computer hardware or software via our Electronic
> Trading Services, provided that we have taken reasonable steps to prevent
> any such introduction.

So if there system goes down and you have open positions and you lose money they will not be responsible, there system breaks down quite often and i do not know if they do that on purpose or it just happens

Do Not Trade with IG Markets, Not Recommended,

Features
1) intermittent inaccessible to their trading platform
2) unforeseen disruptions in live session
3) trading platform suddenly becomes unavailable on nonfarm payroll day (1st Friday of the month)
4) unable to reach their Helpdesk team at crucial moment to close order due to above (1) or (2)
5) price movement will JUST hit my pre-orders & then move against me till reached my SL & strangely unable to see it in their charting software

 

[foredog]

Not had any of that myself, think you've been a bit unlucky there.

 

[Claudia123]

I use IG most days and have few problems. Unless you trade more than say £20 a point they unlikely to play games. However, remember they are bookies and you are gambling against them. By telling them went to enter your trade and when to exit it the odds very much in their favour, not to mention the spread !! I use orders to open but not stop losses any more - do that manually - might be more dangerous but can only get stopped out when I ready not IG.

If you think IG bad try some others you could be in for a shock.

 

[ffsear]

Surely if they purposly move their prices to hit stops, their price would no longer represent the underlying market that would create an arbing oppertunity?

 

[h_a]

HI

Thanks for your message, do you think it is fair for IG to take advantage of people placing Stops, or should something be done about it

 

[Black Swan]

HI

Thanks for your message, do you think it is fair for IG to take advantage of people placing Stops, or should something be done about it

If you don't like it don't trade with them, move elsewhere, then when that doesn't work give up trading, simples...

 

[ns1000]

HI

Thanks for your message, do you think it is fair for IG to take advantage of people placing Stops, or should something be done about it

Sounds like paranoia.

 

[LostPigeonCoo]

I think Most Spread bet companys say the same thing.

 

[foredog]

IG don't hunt stops, the underlying market may, there have been many times when they have been within 0.1 of a pip from my stop and haven't triggered, i think if they were stophunting they'd push it down to the round number.

Also unless you're traing £50 or £100 per point it's probably not cost effective to have someone checking where every £1 stop is and moving prices about, as for every £1 they knock out it may trigger a buyer of £50, net result they are short £49 at the lower level.

 

[Paul71]

Anyone trading on Ig Markets Trading Platform must read there terms and conditions before start trading, below is one clause you must put your attention to,

Without prejudice to any other Terms of this Agreement, we will have no
> liability to you in relation to any loss that you suffer as a result of
> any delay or defect in or failure of the whole or any part of our
> Electronic Trading Services' software or any systems or network links or
> any other means of communication. We will have no liability to you,
> whether in contract or in tort (including negligence) in the event that
> any computer viruses, worms, software bombs or similar items are
> introduced into your computer hardware or software via our Electronic
> Trading Services, provided that we have taken reasonable steps to prevent
> any such introduction.

So if there system goes down and you have open positions and you lose money they will not be responsible, there system breaks down quite often and i do not know if they do that on purpose or it just happens

Do Not Trade with IG Markets, Not Recommended,

Features
1) intermittent inaccessible to their trading platform
2) unforeseen disruptions in live session
3) trading platform suddenly becomes unavailable on nonfarm payroll day (1st Friday of the month)
4) unable to reach their Helpdesk team at crucial moment to close order due to above (1) or (2)
5) price movement will JUST hit my pre-orders & then move against me till reached my SL & strangely unable to see it in their charting software

Terrible stuff, and the FSA are no good, i think the SB companies 'sweeten' the FSA. If i was you i'd pack it all in, you're better off visiting the dog track once a week, less variables to deal with. Hope this helps, chin-up and keep puntin'.

 

[Black Swan]

Surely if they purposly move their prices to hit stops, their price would no longer represent the underlying market that would create an arbing oppertunity?

Agreed.

 

[Shanghai]

Are we talking about Igmarkets here or igindex as obviously Igmarkets is a CFD trading platform and igindex is the spreadbetting platform?

With regards to stops I have made 100's of trades (bets) with Igindex and have queried 2 with regards to stops. In both cases the market had actually traded at the level I was stopped in / out at but these were not visible on Igindex's charts as they were outliers in a relatively illiquid market (and yes I did check this for myself). I don't believe Igindex hunt stops although of course the market is hunting stops continuously. But hey, its easy to blame the SB companies for losses. It's never the traders fault :|

 

[0007]

although of course the market is hunting stops continuously. .................. It's never the traders fault :|

So true and yet so obscure to so many people.

 

[pseudo straddle]

you're better off visiting the dog track once a week.

What dog track?

They are all shopping centres and housing estates now, in the Smoke!!

 

[gamma]

Anyone trading on Ig Markets Trading Platform must read there terms and conditions before start trading, below is one clause you must put your attention to,

Without prejudice to any other Terms of this Agreement, we will have no
> liability to you in relation to any loss that you suffer as a result of
> any delay or defect in or failure of the whole or any part of our
> Electronic Trading Services' software or any systems or network links or
> any other means of communication. We will have no liability to you,
> whether in contract or in tort (including negligence) in the event that
> any computer viruses, worms, software bombs or similar items are
> introduced into your computer hardware or software via our Electronic
> Trading Services, provided that we have taken reasonable steps to prevent
> any such introduction.

So if there system goes down and you have open positions and you lose money they will not be responsible, there system breaks down quite often and i do not know if they do that on purpose or it just happens

Do Not Trade with IG Markets, Not Recommended,

Features
1) intermittent inaccessible to their trading platform
2) unforeseen disruptions in live session
3) trading platform suddenly becomes unavailable on nonfarm payroll day (1st Friday of the month)
4) unable to reach their Helpdesk team at crucial moment to close order due to above (1) or (2)
5) price movement will JUST hit my pre-orders & then move against me till reached my SL & strangely unable to see it in their charting software

When I visited ig's offices a while back, the head trader showed me that they have a aggregate position in any given instrument.
it is simply not worth their while to have someone monitor your small positions as the chances are you will probably lose anyway, where the issue of contention lies, in is, whether your position is actually put in the market, and chances are it is probably not.however should you win or are a sucessful trader your gains will very easily be met from the money they get from the net aggregate losers which outnumber the winners.
larger positions will be underwritten in the market
So all the time you are trading below £20 a point, stop fretting if you lose, its more than likely you are a bad trader.

 

[Claudia123]

When I visited ig's offices a while back, the head trader showed me that they have a aggregate position in any given instrument.
it is simply not worth their while to have someone monitor your small positions as the chances are you will probably lose anyway, where the issue of contention lies, in is, whether your position is actually put in the market, and chances are it is probably not.however should you win or are a sucessful trader your gains will very easily be met from the money they get from the net aggregate losers which outnumber the winners.
larger positions will be underwritten in the market
So all the time you are trading below £20 a point, stop fretting if you lose, its more than likely you are a bad trader.

Agree. IG dont hunt stops the MM's do but that's part of the game. I think I said before earlier keep below £20 a point and IG aren't bothered. Bigger positions they may hedge. Depends on the overall balance of their book at a given point in time. One thing is sure they don't lose.

 

[gamma]

Agree. IG dont hunt stops the MM's do but that's part of the game. I think I said before earlier keep below £20 a point and IG aren't bothered. Bigger positions they may hedge. Depends on the overall balance of their book at a given point in time. One thing is sure they don't lose.

And if you are trading anything above 10 pounds a points you should be thinking about direct access rather than spreadbetting.

 

[Claudia123]

And if you are trading anything above 10 pounds a points you should be thinking about direct access rather than spreadbetting.

Think you right Gamma. But this raises issues of taxation etc. I got account with IB I don't use and often ask myself why. I think the answer is, I know IG's platform so well and am so comfortable with it. Making a move to dma is (for me) a big step in my trading. One I know I should do but ............ 'better the devil you know?' Then back to tax. For trading 10 to 20 a point (or less obviously) retail trader sb makes sense so long as it stays tax free.

 

[Splitlink]

Think you right Gamma. But this raises issues of taxation etc. I got account with IB I don't use and often ask myself why. I think the answer is, I know IG's platform so well and am so comfortable with it. Making a move to dma is (for me) a big step in my trading. One I know I should do but ............ 'better the devil you know?' Then back to tax. For trading 10 to 20 a point (or less obviously) retail trader sb makes sense so long as it stays tax free.

That's strange, Claudia, because I have an account with IB, too. Neither do I use it because I am happier with my SB (not IG, BTW). As far as I am concerned, I trade less than a contract size, most times. For me, this is, very much, a means to get some extra spending money---not for getting rich. At my age, I'm not interested!

 

[Windowsill]

Think you right Gamma. But this raises issues of taxation etc. I got account with IB I don't use and often ask myself why. I think the answer is, I know IG's platform so well and am so comfortable with it. Making a move to dma is (for me) a big step in my trading. One I know I should do but ............ 'better the devil you know?' Then back to tax. For trading 10 to 20 a point (or less obviously) retail trader sb makes sense so long as it stays tax free.

And if you're profitable what the prob....totally agree