To my eyes, Intertrader is currently looking like the next best thing to sliced toast - even if they won't be beating IG Index any time soon -who I continue to recommend with the very greatest of confidence. All other things (spreads, margins etc.) being roughly ‘a little here a little there’, it’s recently becoming near on impossible to ignore, any longer, both their ‘trading rebate’ offer (up to 10% off spreads for very active clients) and then there’s intertrader's account opening ‘10% credit offer - up to £10,000’. For anyone who is a frequent flier, these kind of offers are very tempting indeed...
But.
But, I do have one lasting concern, which is the very reason why I’m not yet a client, and it’s about CGSL (Computer Generated Stop Losses). As I understand matters (and please do correct me where mistaken), intertrader seem to make stop losses compulsory for every opened spreadbet. Now I might, at this point, admit that I very rarely use stop losses, given that with just under two decades worth of spreadbetting experience, I’ve learned (and use) other methods of managing risk, rather than solely relying on stop losses. So it’s very important for me (and I’m sure I’m not the only one...), that stop losses remain completely optional, as opposed to compulsory. I usually scale in to a larger position, over a period of time, and there’s frankly no point doing that if an arbitrarily generated stop loss is going to start cutting into any of my positions, before I’ve even finished building them!
Nevertheless please don’t take this as an argument, nor even the beginnings of one, against stop losses. Far from it. I believe that everyone needs to learn to use stop losses sensibly and have no problem admitting that I always used stop losses during my earlier learning years. More to the point, this poster would certainly encourage all inexperienced spread bet clients always to think of where to put your stop loss when you open your spreadbets. Where to place a stop loss is a skill which needs to be developed, long before you can even start to think of using other ways of managing risk. And I very much accept that plenty of experienced spread betting clients regularly make use of stop losses, as an essential part of their technique, and do well when doing so. They’re just not usually for me. But enough digression about the concept of using stop losses.
Back to Intertrader.
Could someone, who is a client of intertrader, please fill me in on how stops are used on their platforms? In particular:
(1) is it the case that stop losses really are compulsory as regards all opened spreadbets on the Intertrader web platform?
(2) Is it possible to cancel every stop just after opening a spreadbet on their webplatform, or is it only possible to edit each stop?
(3) Even if they insist on stop losses on all spreadbets, no matter how experienced a client is, then is it possible (i.e., are you allowed) to edit stops very widely (for example a 1000 points out on the ftse) – so that they are effectively and/or extremely unlikely to be hit, when scaling in to a larger position?
(4) Lastly, do you have any other comments about intertrader, which someone who’s thinking of signing up, needs to be aware of – e.g., how they manage withdrawals? How you find their customer service? Etc. Thank you in advance.
But.
But, I do have one lasting concern, which is the very reason why I’m not yet a client, and it’s about CGSL (Computer Generated Stop Losses). As I understand matters (and please do correct me where mistaken), intertrader seem to make stop losses compulsory for every opened spreadbet. Now I might, at this point, admit that I very rarely use stop losses, given that with just under two decades worth of spreadbetting experience, I’ve learned (and use) other methods of managing risk, rather than solely relying on stop losses. So it’s very important for me (and I’m sure I’m not the only one...), that stop losses remain completely optional, as opposed to compulsory. I usually scale in to a larger position, over a period of time, and there’s frankly no point doing that if an arbitrarily generated stop loss is going to start cutting into any of my positions, before I’ve even finished building them!
Nevertheless please don’t take this as an argument, nor even the beginnings of one, against stop losses. Far from it. I believe that everyone needs to learn to use stop losses sensibly and have no problem admitting that I always used stop losses during my earlier learning years. More to the point, this poster would certainly encourage all inexperienced spread bet clients always to think of where to put your stop loss when you open your spreadbets. Where to place a stop loss is a skill which needs to be developed, long before you can even start to think of using other ways of managing risk. And I very much accept that plenty of experienced spread betting clients regularly make use of stop losses, as an essential part of their technique, and do well when doing so. They’re just not usually for me. But enough digression about the concept of using stop losses.
Back to Intertrader.
Could someone, who is a client of intertrader, please fill me in on how stops are used on their platforms? In particular:
(1) is it the case that stop losses really are compulsory as regards all opened spreadbets on the Intertrader web platform?
(2) Is it possible to cancel every stop just after opening a spreadbet on their webplatform, or is it only possible to edit each stop?
(3) Even if they insist on stop losses on all spreadbets, no matter how experienced a client is, then is it possible (i.e., are you allowed) to edit stops very widely (for example a 1000 points out on the ftse) – so that they are effectively and/or extremely unlikely to be hit, when scaling in to a larger position?
(4) Lastly, do you have any other comments about intertrader, which someone who’s thinking of signing up, needs to be aware of – e.g., how they manage withdrawals? How you find their customer service? Etc. Thank you in advance.
Sounds good.
