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IG Markets - Platform Faults & Gotchas

Yeah ok korrupt I though you were actually saying that you are trading blind

Finally... charts are back!! But with the day almost over... whats the point

TH... some days I do feel like I am blind... some obvious setups and totally miss them...
 
I noticed on IG markets that they charge a commission when you both enter and leave the contract. Not only that but the commission increases if the underlying share value increases.

They also dont allow you to see how much you have made in percentage. Only in $...This means that you have to manually work out the percentage so you can figure out when you have made a profit that is above the commission.

It also seems to me that they want you to have as much leverage as possible. I cant find any option that allows you to reduce your leverage (of course, because the more you borrow, they more they make on commission).

I am in huge disgust of all the dirty and plain evil tricks they use to squeeze every single last bit of money out of you.



Is there any other platform that is a little honest?
 
yes naked, all platform providers have as their primary purpose taking money from the customer.

i recall an exit i took in a dying spike when trading with commsec. commsec held my request for 1min or so and this took about $3k off my profit. i was cranky about it, but there was little i could do.

whilst commsec probably didnt benefit from holding my trade, it certainly was irritating

these days i simply attempt to understand my platform providers tactics so that i know what to expect, then accept it -- although, not always easy

james
 

I know most cfd providers are to be taken with a grain of salt, but some of your complaints aren't really any different to a normal broker

don't all brokers charge comm both ways?
and its also common to charge comm based on share price. It's just a %. This is the same for insto's as well, so no rip off there.
The $/% thing is not really that hard is it?

As for leverage.. just leave more cash in your account. eg if you have 1k in your account and only want to leverage 50% then just buy 2k of stocks


If you want leverage then try a DMA cfd provider
 
I guess the point I am trying to get across is that CFD (all cfd providers I know) brokers make it hard for you to anticipate what you will be paying them.


Normal brokers only charge in % when you reach a certain trade ammount ($10,000 on etrade) until then it is the standard rate.

Yes of course the $/% thing isnt hard, its just a nuciance something they have done to make it difficult.

Leverage doesnt work like that with CFD's.
 
Just looking over the charts from Friday Night/Saturday morning on the Australia 200...

Noticed some very strange long tails on some candles (20-25pts)... not sure whats going on.... perhaps IG's is playing some games and hitting people's stops?

It happened around 17:00GMT to 19:30GMT
 

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That picture you have put up looks very very interesting however...

Yes, I thought so too... I'm not sure what the correlation between IG's Australia 200/Australia 200 Forwards and the REAL SPI Futures are, but assuming that Trembling Hand's opinions are correct - and in a way I do agree with him - then how do you explain the above charts? Bad bucket-shop data?
 
Bad bucket-shop data?

This is what you end up with when you don't pay for REAL market data.

Confusion!!

Buy the Live data and you will not be trading blind.

During that time there was NO liquidity, at all. Except a cross trade for 150 contracts there was just nothing in the order book. Who knows what a real bid chart looks like. In any case anyone that trades the SPI during outside hours and was stopped out with 20 point moves shouldn't have a t
 

Hey Tekman, I have had many problems with IG platform recently and surprise,surprise they questioned my system because they hadn't had any complaints from anybody else!, in the last three weeks I have been taken out of trades at different prices than I clicked on, the 2nd and 3rd time it happened i watched the prices to see if they moved and they didn't move until after the trade confirmation, which took longer than usual to come through,the staff could,t be anymore helpfull when asked about opening accounts and depositing money in to the account but when theres a problem most times they give poor excuses to the fault and they try to fob you off to another dept,best regards.
 
there was also massive slippage yesterday on GSL trades, i had to ring up and tell them how much i needed to be credited back
 
Problems again today with charts out of synch. Also concerns re prices that orders are executed at?? AUD/USD Hmm !!!

Anyone else having problems ???

Cheers !!
 
yeh.... its pi$$ing me off (and costing me in late entries and exits)... especially when i'm scalping on tick charts...

charts are lagging up to 15-20seconds behind.... quotes can move alot in those few seconds.... not good enough!!!

Emailed them... apparently they are aware of it....


 
My charts have been out of sync since yesterday. Both on the computer at home and work.

I have also noticed in the last week they have been lagging during the opening of the Dow as well.

I don't bother calling anymore just live with it.

Cheers
 
Also concerns re prices that orders are executed at??

I was trading G/U last night... set a limit on a trade. Limit level reached and g/u continued to rally beyond the set limit level.... the system never closed my position automatically...

I then went to close it manually... ended up getting anoter 12pips extra....

this was lucky cos it was to my advantage...

what happens when it was a stop level that never got hit??!!

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thats it... i'm done... ig has screwed me enough...
going to change to IB... immediately
 
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