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IG Markets - Platform Faults & Gotchas

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Trembling Hand said:
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.
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Look, it's valid. It's just that I have the money and I don't want it sitting in their trust account doing nothing when my poisition is going my way. But I guess I can go and spend that money sitting in the home loan at any stage in the future. It's just that *I* know I won't!
 
If you happen to get in such a position with Cityindex they will send out a text or email and give you 24hrs or a few days, really quite generous and decreases losses substantually if you happen to hold overnight and your trade doesn't go as planned.

Tried IG (MM) and their forced stops (and non forced), never again.
 

And they max out at $20 a point... Any other places in Aus that operate like City Index that offer more than $20 a point?
 
tch said:
And they max out at $20 a point... Any other places in Aus that operate like City Index that offer more than $20 a point?
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Yeah the real market. All the liquidity you will ever need there. Turf the bucket shops out.
 
Trembling Hand said:
Yeah the real market. All the liquidity you will ever need there. Turf the bucket shops out.
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OK, so the real market is like CityIndex ...

Seriously, any other spread betting places that fill my specified criteria? Would prefer local but would go for an overseas one if I had to.
 
tch said:
OK, so the real market is like CityIndex ...

Seriously, any other spread betting places that fill my specified criteria? Would prefer local but would go for an overseas one if I had to.
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No they are a bucket shop. Use the Futs. The rest are rubish.
 
Is anyone having problems using IG index this morning.

At about 9:55 the charts stoped working, a few mins later all the green buttons turned blue and now it kicks me out everytime I login.

Tried using two different browsers.

I have two open trades which seem to be updating as normal.
Prices are streaming through, just cant do anything in there
 
Yeah mate i just reloaded the screen about 10 times and now it is working. How hard is it to keep a website operational!!!
 
I spoke to soon.

Thanks IG index for being offline from 9:55 to 10:20am.
Its only the time period where I place 50% of my trades.

Funny how to graphs are now missing 20 mins worth of data.
Lets see if we get an explanation.
 
waz said:
I spoke to soon.

Thanks IG index for being offline from 9:55 to 10:20am.
Its only the time period where I place 50% of my trades.

Funny how to graphs are now missing 20 mins worth of data.
Lets see if we get an explanation.
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i know its never convenient waz. always best to have 2 accounts, 2 providers
 
Hi to everyone, I'm new to this forum. After teaching myself reading from books on how to day trade, I decided to open an account with IG markets, recommended by someone, now after reading this post or thread about the problems that the platform can have, I'm starting to have doubts as to weather one can make money throu them or not. I can admit so far after my first month with them I have lost a bit of money, but I don't mind since is part of the experience and my learning curve. What I would genuine like to ask thou, to all those that still use IG markets platform is.... do you or can you guys honestly make money at all with them trading the Aussie cash 200 or ftse 100 mini index??.... Would any one suggest that trading stocks throu cfd's would be a better option? :newbie:

I can currently only trade the Uk markets since I have a day job, so at the moment can't do the Aussie market

cheers to all.
 

elmundo,

IG, being a market maker (re Aus200 and FTSE100 index trading) will have disadvantages that futures providers dont.
in particular note the lag b/w price tickets and charts.
also IGs charts do not accurately represent the real market at all times.
there is also the issue of spread, but sometimes IGs is better than the real market.

can a trader make money using the IG platform?
yes, they can. but you must be aware of the MM disadvantages and technology differences, so that you can build these into your trading style and system.
 

Thanks for the response James.

Did you mean be aware of Market Makers.... (MM disadvantages.....)
I guess I would have to find out if I'm elegible or qualified to have L2 DMA ha?.. Can you still trade the mini index for both under a L2 DMA account?
Can I ask you James, How long have you been trading with IG platform?
Also another question... Is it that all cfd providers that also provide spread betting don't have market depth?... Would you have to have another software on the side when you trade that can provide market depth?

Thanks for your help....
 

MM = marketmaker

IGs DMA doesnt offer futures

I've been using IG for index trading since 2007

i dont know anything about spread betting. but if you want index DOM u get it from a futures platform

** PS: IG is the best MM i have found for intraday index trading re order execution: fast and stops placed simultaneously as "at market" orders sent.
 

Ok, I see what you mean.
So I think I have to refine my strategy and system of trading for intraday, so that it wins more than or loosing less...
One thing thou, I thought trading the index throu IG platform was spread betting, or perhaps some people's termenology relate it to that.
Now I suppose if you want to open an account with a futures platform to get market depth (DOM) you would need more of an initial deposit, is that right?.. what would be the minimum deposit to go with one of futures provider? Any names of any?
Now you mention in one of your earlier posts, about having 2 providers 2 accounts, which other platform provider would you suggest?

Thanks for your help.
 
How you doing James Austin.

Did you notice the huge tail on the candle at 01.55am australian time on the ftse 100..? rejecting lower prices, this MM are good aren't they?.. Manipulating the prices to their advanteges...ha?...apart from that I'm working on my strategies and system for intraday..... and I can see is very hard to bit them...One of my biggest question at the moment would be, considering all the disadvantages that trading with an MM platform can bring, how could one bit them at their own game?.... believe me I'm working at it, since last month....
I know that some people don't like to share much of their knowlegde, but thats ok... we see it everywhere.... thats why I think is a big challange as a bigginer to start rolling the ball..... I suppose knowlegde and wisdom is got a price to take.

cheers.
 
IGs charts are meant to reflect the futures. if you stick to trading index cfds when cash market is open (ie 9.50 till 4pm Aus and 7pm till 3amish?? ftse) u should be right re MM messing with prices. any unusual chart behaviour within those times and u would probably have recourse with IG
 
James you should really have a look at Gomarkets. the spread is the same as the spi. I had a look at it a couple of weeks ago on a friends account.

Much better than IG or CMC from the couple of days I looked at it.
 
Trembling Hand said:
James you should really have a look at Gomarkets. the spread is the same as the spi. I had a look at it a couple of weeks ago on a friends account.

Much better than IG or CMC from the couple of days I looked at it.
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i've got a GO icon sitting on my desktop, just havent bothered to explore it yet.


TH, the one good thing about IG is you can attach a stop simultaneously to an at market order, saves me fumbling around with stop orders in fast markets. i dont think i can do this with GO.
 
elmundotrade said:
Did you notice the huge tail on the candle at 01.55am australian time on the ftse 100..? rejecting lower prices, this MM are good aren't they?.. Manipulating the prices to their advanteges...ha?
Click to expand...

Hi elmundotrade,

If you believe there is a problem with the price action please post a timestamped screenshot of the deal ticket at the time or even better a chart reflecting this action.

We can try and confirm if there any issues.
 
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