IG Markets - Platform Faults & Gotchas

[skyQuake]

At 10pm the spread is no longer 2pts! Its around 10pts or so, mirroring the liquidity in the night SPI.

Imo suicide to trade it when against marketmakers in an illiquid mkt.

 

[James Austin]

At 10pm the spread is no longer 2pts! Its around 10pts or so, mirroring the liquidity in the night SPI.

Imo suicide to trade it when against marketmakers in an illiquid mkt.

the ftse sky, not the spi . . . get with the program

 

[cogs]

Hi James Austin,

I have had this experience many times before and actually raised the topic here once 'Stops being targeted'. It happens more often than coincidence. I was shot down by I suspect CFD clientel and operators.

I only place stops manually now and success rate has increased dramatically.

Have to add I had an interesting experience the other night trading US Crude withj another CFD company. My order triggers weren't being filled so I rang to make an enquiry when the displayed price was actually over 20pips from my order, client services asked me (generously) if I wanted it filled, I stated "yes" obviously, so they filled it there and then.
How can an order be filled when the actual price is over 20pips away from my order and moving further away?

I have my own thoughts on this. Honesty isn't one of their industries strong points.

 

[barney]

Hi James Austin,

I have had this experience many times before and actually raised the topic here once 'Stops being targeted'. It happens more often than coincidence. I was shot down by I suspect CFD clientel and operators.

I only place stops manually now and success rate has increased dramatically.

Have to add I had an interesting experience the other night trading US Crude withj another CFD company. My order triggers weren't being filled so I rang to make an enquiry when the displayed price was actually over 20pips from my order, client services asked me (generously) if I wanted it filled, I stated "yes" obviously, so they filled it there and then.
How can an order be filled when the actual price is over 20pips away from my order and moving further away?

I have my own thoughts on this. Honesty isn't one of their industries strong points.

Hi Cogs, The name of that provider would be appreciated ......

1) Did they fill your order at the original price?

2) You would have immediately been 20 points in credit (minus spread of course) .. yes??

3) Did you close the position out immediately and take the 20 points?

4) If so, did the close order get filled immediately?

Cheers.

 

[cogs]

Hi barney,

1) Did they fill your order at the original price?
Yes, that's what amazed me. I went long on a spike bottom and the price was well on its way back up. They may have had some short orders left to fill would be my thoughts.

2) You would have immediately been 20 points in credit (minus spread of course) .. yes??
That's correct, I was immediately in profit so just rode it out for a quick profit.

3) Did you close the position out immediately and take the 20 points?
Left it to go on its merry way the way I planned.

4) If so, did the close order get filled immediately?
All orders were then filled immediately as per usual.

Rather not mention the company, but I am sure they all have this capability.

 

[barney]

Hi barney,

1) Did they fill your order at the original price?
Yes, that's what amazed me. I went long on a spike bottom and the price was well on its way back up. They may have had some short orders left to fill would be my thoughts.

2) You would have immediately been 20 points in credit (minus spread of course) .. yes??
That's correct, I was immediately in profit so just rode it out for a quick profit.

3) Did you close the position out immediately and take the 20 points?
Left it to go on its merry way the way I planned.

4) If so, did the close order get filled immediately?
All orders were then filled immediately as per usual.

Rather not mention the company, but I am sure they all have this capability.

That is certainly an interesting situation to find yourself in with a CFD provider ........... and well done to the provider for honoring their commitment to your original buy price ....... Anyway, a good result for you in the end so all is good ...... I have an idea which provider it might be, but needless to say, it would not be IG !! Cheers.

 

[Trembling Hand]

Guys - been playing my usual games with IG as its getting to hard to touch up CMC. Is it just me or their way of closing me down or is it the buggiest interface going around????

Seems to crash on entries so I have no idea whether they went thru or not. I have never rang a dealing desk so often

That of course is if I can actually log in in the morning.

 

[James Austin]

Guys - been playing my usual games with IG as its getting to hard to touch up CMC. Is it just me or their way of closing me down or is it the buggiest interface going around????

Seems to crash on entries so I have no idea whether they went thru or not. I have never rang a dealing desk so often

That of course is if I can actually log in in the morning.

really!! . . . that hasnt been my experience so far, but u r doing a heap more trades than me.

my only irritation to date has been them executing my stop when price didnt reach my stop . . . hope that doesnt happen again; when i challenged this, they told me the "charts are indicative" which is code for inaccurate and skewed in their favour

also, IG loves to move the deal ticket prices rapidly, [even when the price is relatively stationary on the chart] when compared to other providers,

i'm convinced this is a means of disorientation, making it difficult to hone in on and execute a preffered at market price.

 

[nomore4s]

Guys - been playing my usual games with IG as its getting to hard to touch up CMC. Is it just me or their way of closing me down or is it the buggiest interface going around????

Seems to crash on entries so I have no idea whether they went thru or not. I have never rang a dealing desk so often

That of course is if I can actually log in in the morning.

Nope it is very buggy atm.

But I have also noticed if day trading/scalping and I'm making money it tends to slow down and play up a bit more, but I may just be imagining things

 

[nomore4s]

really!! . . . that hasnt been my experience so far, but u r doing a heap more trades than me.

my only irritation to date has been them executing my stop when price didnt reach my stop . . . hope that doesnt happen again; when i challenged this, they told me the "charts are indicative" which is code for inaccurate and skewed in their favour

also, IG loves to move the deal ticket prices rapidly, [even when the price is relatively stationary on the chart] when compared to other providers,

i'm convinced this is a means of disorientation, making it difficult to hone in on and execute a preffered at market price.

The charts on IG lag the deal tickets, I actually have the ticket open and trade off that, especially when scalping.

 

[acedrum]

Guys - been playing my usual games with IG as its getting to hard to touch up CMC. Is it just me or their way of closing me down or is it the buggiest interface going around????

I couldn't log into IG yesterday morning until about 11.30 as I kept getting an internal server error in the browser and the mobile platform just wouldn't connect.

The standard, non advanced charts have been freezing everyday at about 11am too.

Sometimes the platform hangs when manually trying to open or close a position but always closes a non-guaranteed stop straight away on the point, almost too instantly.

 

[skc]

Guys - been playing my usual games with IG as its getting to hard to touch up CMC. Is it just me or their way of closing me down or is it the buggiest interface going around???? Seems to crash on entries so I have no idea whether they went thru or not. I have never rang a dealing desk so often

Do you actually mean if CMC has the crappiest platform around? The answer is definitely yes. Crashes and freezes multiple times each day.

It is possible to capitalise on CMC platform's bugginess on occasions, however. The requotes are also helpful features - a fast market may move in your favour in the few seconds they give you to accept the requote...

 

[Trembling Hand]

Nah!! games over for CMC you can't get anymore than $20 a tick. That just not going to interest me.

 

[tch]

Nah!! games over for CMC you can't get anymore than $20 a tick. That just not going to interest me.

$20 max a tick?! True, not enough.

If I understand what I was told today, from next Mon their competitor IGIndex will most likely close positions if you don't have the money in your account without an opportunity to pay the margin (and won't be calling even for you to pay it).

 

[Trembling Hand]

If I understand what I was told today, from next Mon their competitor IGIndex will most likely close positions if you don't have the money in your account without an opportunity to pay the margin (and won't be calling even for you to pay it).

Thats exactly the way it should be.

 

[tch]

Thats exactly the way it should be.

Not when you've got a home loan and have the money sitting in their trust account rather than in your home loan reducing interest on the loan when you're not down!

You should be able to put the money across the day after, should your bet go against substantially. I'd sign something to keep the money there even if they'd let me!

 

[Cartman]

I'd sign something to keep the money there even if they'd let me!

did that statement make sense?? ---- i tried to understand what that meant but couldnt quite work it out -------- maybe its the beer!!

 

[tch]

did that statement make sense?? ---- i tried to understand what that meant but couldnt quite work it out -------- maybe its the beer!!

Sorry, not clear on my part looking back. Was trying to say, that I'd like to have that money (that's now required by IGindex) for a long-term position that may turn into a loss greater than the initial deposit sitting in a home loan rather than wasting away in the IGIndex trust account. I was trying to say I'd be willing to sign something to guarantee or prove to IGIndex that the money will be there to pay any margin payments as required (I know it's not something they'd do)! I'd like the keep a long term position open with the initial deposit amount only (with a stop on the order to the point where my home loan has some money left still). Once he position is opened, I'd make margin payments as required after the position is open, should my position drop gradually or suddenly go against my expectation. But I guess they're essentially wanting all orders to practically come with "guaranteed stops" with the full amount deposited before the position is opened.

 

[Cartman]

Sorry, not clear on my part looking back. Was trying to say, that I'd like to have that money (that's now required by IGindex) for a long-term position that may turn into a loss greater than the initial deposit sitting in a home loan rather than wasting away in the IGIndex trust account. I was trying to say I'd be willing to sign something to guarantee or prove to IGIndex that the money will be there to pay any margin payments as required (I know it's not something they'd do)! I'd like the keep a long term position open with the initial deposit amount only (with a stop on the order to the point where my home loan has some money left still). Once he position is opened, I'd make margin payments as required after the position is open, should my position drop gradually or suddenly go against my expectation. But I guess they're essentially wanting all orders to practically come with "guaranteed stops" with the full amount deposited before the position is opened.

lol ----- im with ya now TC --- couldnt quite cotton on to what u were saying b4 ---

in this day and age nobody(IG in this case) is keen to take 'liability on credit' ---- and really u cant blame em for that ----

if the money u have tied up with IG is substantial enuff to affect yr home loan interest etc ----- maybe u have too much riding on the position?? --

been in the position of over-leveragedness ma self ( i like to make up my own words ) in the past --- and paid a pretty hefty price 4 the privilege ----- maybe u need to re-assess yr position ??

 

[Trembling Hand]

Personally I don't want to be involved with anyone holding my money that is willing to let their clients hold positions without margin cover. Think Opes Prime. Complete F up.

And I don't even want to get into the argument about this statement.

I'd like the keep a long term position open with the initial deposit amount only (with a stop on the order to the point where my home loan has some money left still).

Some talking head said a couple a weeks ago "Global credit crunch isn't the problem, its the cure." Some still haven't taken their medicine