I have been hearing some horror stories and information based on IG Markets being a market maker.
Apparently with their market maker CFD's such as the FTSE 100 $1, there is a chance that IG is against you in some trades. I've also heard that when you profit, they lose and visa versa.
Is this true? I thought there are supposed to be buyers/sellers that you are selling into, and when going short you are borrowing that amount from the broker.
I don't think I like the idea of this and not being able to see volumes traded further confirms this - then again I could very well be wrong.
I've looked on the forums regarding IG but have not found information regarding this - however there are things called DMA-CFD's where the broker does not profit or lose from your loss or profit.
So what is the go with these OTC CFD's? I've just started learning them and this is coming across as little more than a bookmaker for markets...