By DominicWalsh · Posted
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
CFD, share dealing and stocks and shares ISA accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.
The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
I am running the IG Trading Platform in a clean sandboxed environment with latest Firefox. Your UI seems very buggy and slow. An order got stock in the UI which I couldn't delete even after logout / login and full reset using the VM snapshot. Clearly a bug in your core platform. This then got converted to a open position because I couldn't edit or delete the order and I then couldn't close the position even after trying multiple times because it came from that ghost order - VERY BUGGY!!!! There was also stuck margin from that ghost order essentially stealing funds that couldn't be returned. Eventually I got the position to close after several minutes but it then appeared again stuck in the system without the related margin this time. This could of resulted in a massive loss of funds!
During this issue I found that there is no easy way to contact anyone to say there is a problem and get the position closed. It just stayed open conveniently sucking money out of the account. How's anyone supposed to trust a system with their money when you have absolutely no control over it. Writing a forum post when you are loosing money wouldn't be acceptable and god knows how long it would take to get someone on the phone.
Firstly why are there bugs in your system that allow unchecked positions to persist and no method to close them?
Secondly why is there no quick way to get in touch when there is a problem - conveniently there isn't even a compose message option just an Inbox - hmm 1 way messaging what's the point?
It really puts me off wanting to use something that won't obey simple operations / commands and could leave me open to large losses. Not sure how I could trust something like this with my money!
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