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Comments on: IG Index http://www.financial-spread-betting.com/reviews/igindex.html Spread Betting Companies Reviews Sat, 30 Apr 2016 11:16:57 +0000 hourly 1 https://wordpress.org/?v=4.5.1 By: Shameer http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-5953 Wed, 30 Dec 2015 18:02:15 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-5953 Anyone who traded with IG during the Swiss franc incident has nightmare stories to tell about this outfit. The execution was ridiculously slow with manual processes that took too much time and put most clients sharply in the red. IG’s arrogant response was: “sorry, you signed the Terms and Conditions…” and basically clamming up when requesting more information. Their systems melted down and they hid behind illiquidity. They also went after clients whose accounts were in negative territory – all this because IG failed them. I would never use them. Trade with a provider that has a no-negative balance policy.

By: Max Trey http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-4284 Wed, 18 Feb 2015 07:57:02 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-4284 In general yes they trade as well as any provider. HOWEVER, when push comes to shove good luck – they will let you down.

A recent example. On Jan15th 2015, the SNB removed the EURCHF floor at 1.20. As a result, IG manually aggregated client positions and started selling positions (margin calls & stop losses) about 10 mins after the announcement. By this time most of the liquidity was gone and by 10am (30mins later), most clients were given a fill of 0.9250. In comparison, FX PRO average fill was 1.11 and FXCM was similar.

IG see their whole manual process as completely fair and are chasing retail users for negative balances caused by IG’s 2600 point slippage. I repeat…..stop losses had slippages of over 2600 points! Other reputable brokers forgave negative balances.

IG did not even have the decency to email all clients on the day and explain what happened – other brokers did.

By: Max Trey http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-4281 Tue, 17 Feb 2015 22:57:40 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-4281 Take a recent example…. EURCHF move. They did not react for ten minutes. They missed all volume at semidecent levels and filled clients with a 2600 point slippage. Unlike some competitors, they are chasing negative balances.

By: spod http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-2644 Wed, 26 Nov 2014 01:30:22 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-2644 I have a spreadbet account with IG Index which i am happy with apart from their margin treatment of pending orders.

ie : they subtract the margin requirment for pending orders set, as well as the margin requirement for actual live positions.

This means i can’t set more than a few pending orders without using up a huge whack of my account margin. Which is really daft.

So i am looking for alternative spreadbet providers who only calculate your margin on the basis of actual positions taken rather than on pending orders aswell.

I have a CFD account with CMC Markets which allows me to set as many orders as i like. And those orders only affect my account margin if they become live account positions. Which makes sense.

Any suggestions please for “spreadbet” providers who only calculate account margin on the basis of actual live positions ?

By: rolly http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-1081 Tue, 17 Jan 2012 01:50:39 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-1081 Been with IG over 10 years. Used to use stop orders quite frequently but all stopped when i had an order placed to sell gold.

The price had moved through my order price by 26pts before they opened it!

When i called them some sniveling git says to me “It’s slippage”

Slippage! 26pts! More like slippery if you ask me.

Now i know why they changed their limit targets from prices to points!

It’s a real shame that previously when Wheeler owned them they were quite trustworthy, but since he sold out they have become untrustworthy. Especialy when it comes to triggering orders. As for their charts – I can sum those up with one word – RUBBISH.

By: DS http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-1078 Sun, 08 Jan 2012 08:54:43 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-1078 Annoying salespeople. Prices look out of sync to me. Never bothered.

ETX Capital is brilliant execution (even for scalping)except limited share companies to trade & spreads are a bit high – but I suppose you get what you pay for.

By: REdson http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-1074 Fri, 09 Dec 2011 18:42:49 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-1074 A Forex trader of 30 years experience advised me to get out of IG as he knew dealers there who told him of all the scams they get up to rip off traders. I use it to trade equities as it is hopeless for Forex. While the platform is probably the best, all sorts of strange things happen on a regular basis such as prices mysteriously freezing, when your open positions are going up. The site froze on me today while I had a deal ticket open, but I didn’t execute the trade. I only noticed the trade had been executed when I noticed a loss in my funds. i.e the trade hadn’t even appeared in my open positions! Snivelling git on the end of the phone just parroted the line that they’d had no other complaints and it was my browser etc….Avoid.

By: thepinkpanther http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-1073 Wed, 07 Dec 2011 20:46:44 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-1073 On one particular day IG froze my ticket 3 times when i was scalping and each time i was in profit i got stopped out, cos when i went to take my profit the screen was already frozen and i could nothing but watch it reverse and stop me. Strange that when one profits from another’s loss……..and why they always get someone to watch u if its going good and even a friend of mine has been told to leave, as he is a serial winner! They r no different from the bucket shps of Jesse L’s day, the odds r stacked against u and if u constantly do well they freeze your screen etc and also don’t let u trade when a reversal is happening, they spin the crap that it’s your internet browser and that no one has ever complained before…utter ****…

IG control binaries and the odds r massively stacked against u when u think it’s such a small drop to zero………..its actually better from mid way!

If they deal the spread only, then why the concern by IG when u win consistently, they r the biggest dodgers going…. There is only one way to win trade the trend with stops brought up below swing lows and keep going until u get whacked out, small % risk to capital and time entries with very small stops…….and avoid indicators where possible except ma, trends and swings……..and SAR!

good luck

By: kay http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-407 Thu, 30 Jun 2011 08:36:51 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-407 I have traded with them for sometime now. Their customer service lacks what they promise. My stops get hit every single trade and I have never made any money with them. They run some sort of algorithm to makesure they always hit your stop even when I am trading with the trend and my stop is 10 – 20 points away! Once hit it then resumes to the actual market trend which I find strange why i always get hit no matter what strategy I use. Personally I would never go back with them although their TA part of the package is good its no help if they scam you!

By: Raysor http://www.financial-spread-betting.com/reviews/igindex.html/comment-page-1#comment-342 Tue, 15 Mar 2011 21:44:04 +0000 http://www.financial-spread-betting.com/reviews/?p=3#comment-342 OK, IG is quite good, it should be (is it one of the biggest?). But I can’t help thinking it is a bit like the banker’s umbrella. You know the joke about the bank giving you a free umbrella, then demanding it back when it starts raining. Look at IG share trading platform over the last few days-full of red crosses (can’t deal) and orange crosses (telephone only). You look at the smaller AIM stocks and you just can’t deal, or at least only to close trades. That is really very poor.