IGindex taking me to Bankruptcy

So in conclusion, either

a) you think IG are a scummy bunch of cnuts trying to rip off all their clients, in which case take your biz elsewhere or

b) you think IG are decent at what they do, you've not any major problems and are happy to continue with them

Everyone on this thread is either a) or b), but NO-ONE is going to be converted from one side to the other. Ergo, this thread is pointless drivel.
 
meanreversion said:
So in conclusion, either

a) you think IG are a scummy bunch of cnuts trying to rip off all their clients, in which case take your biz elsewhere or

b) you think IG are decent at what they do, you've not any major problems and are happy to continue with them

Everyone on this thread is either a) or b), but NO-ONE is going to be converted from one side to the other. Ergo, this thread is pointless drivel.
Click to expand...

c) lulz merchant who really doesn't give a 5hit when folk bleat about losing their money?
 
On the flip side at least when someone says they "loose" money you instantly know why and can ignore them.

BS your attempts at lulz are p1ss poor mate. Now Gecko... there's your teacher.
 
meanreversion said:
One thing worse than people bleating about losing money, is when they type that they have been "loosing" money. Really gets to me, that one.. just another indication of the total collapse in educational standards in this country.
Click to expand...

Nah, the one thing worse than them bleating is blame and bleating combined..I fookin hate that...bunch of pussies...
 
vizatelli said:
To answer these questions:
a)IG does hedge some positions. If you are regular winning client then IG will hedge or sometimes even force you as a client to "work" your order in the underlying market. As a spread betting company you would expect them to take the other side of every deal but over the years IG have become wise to the fact that some clients do make money from the majority of their trades, and these are the ones they hedge. Most client lose money most of the time hence IG's bottom line profit being so high.
b)IGs hedges are not always profitable. Sometimes they may hedge a little to bring themselves back inside of their limits. For example, if they are seeing lots of clients buying the FT100 they will be taken shorter and shorter and eventually they will need to physically buy some FT futures to bring their position back inside the limit. This is how it works.
c)Not sure what you mean, but some stops will simply be taken on the book of IG. Think about it...If IG are seeing buyers all day of the FT, the FTSE will likely be going down and these clients will have stops which will be hit. So IGs short position will simply be taken longer as the stops get hit. This is how they make money. It is a fact that most clients do lose money (as hard as it is to admit!).

Blackswan - are you an employee of IG or simply a wally who make ridiculous comments every now and then??!
Click to expand...

vizatelli,
With all this for/against IG stuff, I can't work out which side of the fence you sit? Are you for or against IG?
The above seems to indicate you have some inside knowledge on how IG operates, although the things above sound perfectly reasonable and legit. I took a look at some of your old posts, and one refers to you having a "close friend" in the know, however the related post has been "removed"?! Are you willing to give some "credibility" to your information?
 
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leonarda said:
With all this for/against IG stuff, I can't work out which side of the fence you sit? Are you for or against IG?
Click to expand...

Why so black or white?

I just think it's better for people to have some idea of what the SB firms get up to and that way they can swerve the dodgy practices.
Like it or not the SB firms provide a service that most of us take for granted. How else could we access financial markets and get this kind of leverage subject to such lax screening etc?
IG give you a set of tools. Whether you can use them and how you go about using them is down to you.
 
meanreversion said:
So in conclusion, either

a) you think IG are a scummy bunch of cnuts trying to rip off all their clients, in which case take your biz elsewhere or

b) you think IG are decent at what they do, you've not any major problems and are happy to continue with them

Everyone on this thread is either a) or b), but NO-ONE is going to be converted from one side to the other. Ergo, this thread is pointless drivel.
Click to expand...

I'm neither a) nor b). IG is better than some in some ways and worse than some in other ways. I don't like the way they seem to have an army of Fob-Off people whose sole job apparently involves investigating complaints and writing detailed letters explaining why mistakes are never their fault.

However, the main reason I haven't used them recently is because their Deal Thru charts never work for me, although I'm prepared to believe that's because I don't buy a new computer every few months.
 
leonarda said:
vizatelli,
With all this for/against IG stuff, I can't work out which side of the fence you sit? Are you for or against IG?
The above seems to indicate you have some inside knowledge on how IG operates, although the things above sound perfectly reasonable and legit. I took a look at some of your old posts, and one refers to you having a "close friend" in the know, however the related post has been "removed"?! Are you willing to give some "credibility" to your information?
Click to expand...

In the last week I had a major issue with IG. I was trading the breakout of Kerry foods and seemed to get 43 points of slippage. Called & emailed IG about 10 times and eventually got a bloomberg screenshot, which didn't really show a gap up, which they claimed happened, i.e. there was a spike up sure, but the order could've been filled nearer my Order. Anyway, they've said there was a gap and thats it. The 2nd part of this was that with a spread of 17, I believed that the maximum the order could be filled at was the top of the spike + 8.5. but no they informed me that at that moment in time, the underlying was 13.5 above, so another -5 pips and tough luck.
Obviously I'm well pssed off but from comments on this thread, this happens everywhere so get over it. The loss was made bigger then cos my stop moved up 43 points, which I then moved back 43 as that was where my TA put it and then that got taken out too:mad: Awe, pure sick
 
wellray said:
In the last week I had a major issue with IG. I was trading the breakout of Kerry foods and seemed to get 43 points of slippage. Called & emailed IG about 10 times and eventually got a bloomberg screenshot, which didn't really show a gap up, which they claimed happened, i.e. there was a spike up sure, but the order could've been filled nearer my Order. Anyway, they've said there was a gap and thats it. The 2nd part of this was that with a spread of 17, I believed that the maximum the order could be filled at was the top of the spike + 8.5. but no they informed me that at that moment in time, the underlying was 13.5 above, so another -5 pips and tough luck.
Obviously I'm well pssed off but from comments on this thread, this happens everywhere so get over it. The loss was made bigger then cos my stop moved up 43 points, which I then moved back 43 as that was where my TA put it and then that got taken out too:mad: Awe, pure sick
Click to expand...

this sort of thing will happen with any SB company...it's a hard world...
 
wellray said:
In the last week I had a major issue with IG. I was trading the breakout of Kerry foods and seemed to get 43 points of slippage. Called & emailed IG about 10 times and eventually got a bloomberg screenshot, which didn't really show a gap up, which they claimed happened, i.e. there was a spike up sure, but the order could've been filled nearer my Order. Anyway, they've said there was a gap and thats it. The 2nd part of this was that with a spread of 17, I believed that the maximum the order could be filled at was the top of the spike + 8.5. but no they informed me that at that moment in time, the underlying was 13.5 above, so another -5 pips and tough luck.
Obviously I'm well pssed off but from comments on this thread, this happens everywhere so get over it. The loss was made bigger then cos my stop moved up 43 points, which I then moved back 43 as that was where my TA put it and then that got taken out too:mad: Awe, pure sick
Click to expand...

You don't need a Bloomberg screenshot, what you need is time and trades at the time you were stopped out. The Bloomberg screenshot is not of the correct scale to show what was going on in the market at that time.
 
bigboy said:
You don't need a Bloomberg screenshot, what you need is time and trades at the time you were stopped out. The Bloomberg screenshot is not of the correct scale to show what was going on in the market at that time.
Click to expand...

IG couldn't /wouldn't provide that. I first got a line graph of pa on the day which was pretty useless and then a just a list of prices and times (no chart) stating there was a gap up so order was filled 43 points later - it's complete crap. I'm sticking to FX it happens less
 
Ross Spur said:
I'm neither a) nor b). IG is better than some in some ways and worse than some in other ways. I don't like the way they seem to have an army of Fob-Off people whose sole job apparently involves investigating complaints and writing detailed letters explaining why mistakes are never their fault.

However, the main reason I haven't used them recently is because their Deal Thru charts never work for me, although I'm prepared to believe that's because I don't buy a new computer every few months.
Click to expand...

fwiw and IMHO, their deal thru facility/chart package is gash...
 
wellray said:
In the last week I had a major issue with IG. I was trading the breakout of Kerry foods and seemed to get 43 points of slippage. Called & emailed IG about 10 times and eventually got a bloomberg screenshot, which didn't really show a gap up, which they claimed happened, i.e. there was a spike up sure, but the order could've been filled nearer my Order. Anyway, they've said there was a gap and thats it. The 2nd part of this was that with a spread of 17, I believed that the maximum the order could be filled at was the top of the spike + 8.5. but no they informed me that at that moment in time, the underlying was 13.5 above, so another -5 pips and tough luck.
Obviously I'm well pssed off but from comments on this thread, this happens everywhere so get over it. The loss was made bigger then cos my stop moved up 43 points, which I then moved back 43 as that was where my TA put it and then that got taken out too:mad: Awe, pure sick
Click to expand...

How much did you lose..in *Irish* Euros...?
 
wellray said:
IG couldn't /wouldn't provide that. I first got a line graph of pa on the day which was pretty useless and then a just a list of prices and times (no chart) stating there was a gap up so order was filled 43 points later - it's complete crap. I'm sticking to FX it happens less
Click to expand...

According to the Markets in Financial Instruments Directive(MiFID) IG should have a best execution policy and act in their client's best interest.
Does the Bloomberg screenshot indicate that they have complied with the above?
 
If you're going to trade small cap shares then Capital Spreads have a much better policy on stop losses.

Be careful with some of the other firms who will trigger your stop loss based on the bid or ask price simply 'touching' your specified level. With CS they wait for volume to be traded at a particular level. This means that you dont get stopped out simply because the spread widens due to illiquidity (like at the market open or close).

On top of that IG's slippage policy is entirely one sided and guess who it favours? If your stop is touched and the market keeps on tanking past your stop then they can pass on the full loss based up on price at the time that they actually fill your stop order - if on the other hand your stop is triggered and the market quickly re-bounds in your favour they specify that your order will be filled at the stop level which you set - this is unfair because if they are allowed to gap your stop on the one hand they should be prepared to pass on any betterment in the case of the reverse.


Hope this helps,
Steve.
 
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