IG Markets

[beamstas]

Does anyone have any opinions about IG Markets?
I have recently opened an account with them, anything i need to know about?

I have had trouble finding an IG Markets thread so feel free to discuss it here to help us all out

If you would like to outline any pros or cons here also that would be great

Thanks
Brad

 

[Wysiwyg]

Does anyone have any opinions about IG Markets?
I have recently opened an account with them, anything i need to know about?

I have had trouble finding an IG Markets thread so feel free to discuss it here to help us all out

If you would like to outline any pros or cons here also that would be great

Thanks
Brad

Yes I can say that on multiple occasions my stop losses have been "touched" by the spread before large moves in favour.Even adjusted stop positions are hit.This is my experience and for some reason I was lead to believe by other posters here that this is normal.

I have stopped trading with them because I think the deck is stacked.

 

[Nero64]

I have stopped trading with them because I think the deck is stacked.

Whose deck isn't stacked? - Who would you recommend that has good charts and an easy to use platform.

Their Pure Deal platform is a market maker.

 

[skc]

I think they now have a purdeal DMA platform which runs off web browser and, as the name implies, a DMA model. Works well for placing trades and trailing stop etc.

No comment about stops hunting etc...especially on shares.

 

[Wysiwyg]

The free "real-time" charting is to be no longer. Of course if you make 4 trades for the month then you get your $60 back at the end of the month.

The fee of $60 per month will be effective from 1 June 2009.

We will waive this fee providing you place just four trades during May 2009, and we will continue to do so as long as you meet this minimum of four trades per month. There is no stipulation on whether the transactions are to open or close a position; they simply need to be filled orders.

 

[Aussiest]

Their platform is really slow. It wouldn't surprise me if their server isn't in Australia.

I have noticed spikes too.

I didn't know PureDeal was a market maker?

 

[Aussiest]

I just found out about this thing called TradeSense. Apparently you elect to have it activated in your application. It has a default setting of 6 weeks. What it encompasses is fractional sizes of contracts, eg, you can get 0.1 etc of a contract. I think it is a market maker.

Once TradeSense expires, or if you didn't pick it in the first place, and you have an excess of $5,000 (estimation), then you can use DMA.

 

[local]

Could someone using IG check for me closing prices of
Industrial and Consumer discretionary.
Just before market close I checked these and other indices were up.
I just logged on and saw that everything in the red.
Cons.Discretionary closed -74.3 and Industrial -219.1.
That does not correspond with their charts and market as well.
Just wondering if you have same numbers or perhaps someone knows what has happened.
Thanks

 

[local]

Just noticed they fixed that.

 

[local]

They must be having big problem beause just checked and every thing screwed up again.
Industrials closed -2963 points and Cons.Discr. -1263.
Well I hope I don't get a margin call

 

[skc]

They must be having big problem beause just checked and every thing screwed up again.
Industrials closed -2963 points and Cons.Discr. -1263.
Well I hope I don't get a margin call

or make sure u hit the buy button if these prices are available for trading!

 

[Bobby]

Gee , have a look at this up spike on the FTSE , IG Markets ( CFD ) Time Friday night 22.30pm EAST , just before the drop , 1 minute bars , no real trading happened at this level on the actual , ?????

View attachment Doc1.doc

 

[BrightGreenGlow]

Guys and Girls,

What are the pros and cons of IG Markets Australia?

I was unable to search due to IG being under 3 letters....

Im completely new to forex and will use a demo account to check for myself and ask around my friends that have used spectrum and others.

Would IG suit my newbie needs for small trades?

 

[skc]

Guys and Girls,

What are the pros and cons of IG Markets Australia?

I was unable to search due to IG being under 3 letters....

Im completely new to forex and will use a demo account to check for myself and ask around my friends that have used spectrum and others.

Would IG suit my newbie needs for small trades?

Perhaps u need to tell others what kind of trading you plan to do before people can give appropriate response?

E.g. size, frequency, use of charts, duration, hours etc

 

[mr. jeff]

I can add something about IG (the only platform I've used) be careful about your position sizes, I have on one occasion had to call them as I had half a contract on something for say $50/pip and when I should be showing a profit of $500, it was showing a profit of $5.
I called, they changed the size of contract on their end and I took the money.
Note that at my end it looked correct, but when I got my calculator out and checked the sums, the decimal point for profit/loss was wrong. Now how the hell would that happen?!

A bit scary that it is that easy to alter your account though. It was clear as day an error on their end, I had the trading history which showed my entry size etc. but there was no explanation. just a shrug.

WATCH OUT FOR THIS!

 

[FIGJAM]

G'day All,

Anyone looked into IG Markets as a broker?

From what I gather they are Australian owned.

website http://www.igmarkets.com.au/

Any info would be appreciated.

Cheers,
Mitch

 

[FIGJAM]

G'day All,

Anyone looked into IG Markets as a broker?

From what I gather they are Australian owned.

website http://www.igmarkets.com.au/

Any info would be appreciated.

Cheers,
Mitch

Sorry thought I started my own thread......

I noticed a few of the issues above are a little old.

Have they got better?

Cheers,

 

[skc]

G'day All,

Anyone looked into IG Markets as a broker?

From what I gather they are Australian owned.

website http://www.igmarkets.com.au/

Any info would be appreciated.

Cheers,
Mitch

Mitch, IG isn't a broker. It is a CFD provider. It is not Australian own... it's listed in the UK under IGG.

Depending on the instruments you trade and how you trade, they may or may not be suitable.

I used to trade ASX equity CFDs with them using the L2 DMA platform. It wasn't super awesome or anything, but it was mostly problem free. And once you get to know the dealing desk people they are pretty helpful.

 

[oneagainstthem]

Sorry thought I started my own thread......

I noticed a few of the issues above are a little old.

Have they got better?

Cheers,

Hi, I used IG for a while, the platform was easy to use, the staff initially were helpfull, aren't they all until you open an account ?, then I realised that I got stopped out one day as soon as the market opened after IG made some account changes after trading with them for 15 months,even though my daily statement which was sent to me just before trading started for the day showed more than enough free equity, but because the statement data that they emailed to me had switched from up to date market close prices, to closing prices that were up to three days old,screwing up my available funds in the process, and they didn't bother to inform me of the changes. They said that because I trade UK cfd's and the statements are produced in the UK it was my responsibilty to have found that change out for myself, I did, and it was painfull. The Aus office told me to take my complaint up with the UK office, even though my account was opened with, and held in Aus.It's only when you raise a complaint against " professionals" like this that you realise how much they bend the rules to suit themselves and get away with it. In terms of service I would put them right up there with CMC, and if that doesn't put you off them, nothing will.

 

[Marshall888]

Does anyone have any opinions about IG Markets?
I have recently opened an account with them, anything i need to know about?

I have had trouble finding an IG Markets thread so feel free to discuss it here to help us all out

If you would like to outline any pros or cons here also that would be great

Thanks
Brad

I was just raped by slippage (IG Markets) on aus/usd trade during RBA rate announcement. Should have been 50+ pips win, but "slipped" to buy at worst possible time, then bounced to hit 15 pip stop-loss. 1 second chart showed activity that could have given me an entry with about 10-15 pips slippage, fair enough, but 50+?

Maybe all brokers had this level of slippage?