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After market hour, is it trading against their customer. I am doing research can share your view. Did you feel after market hour did you feel like that....

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Does IG aim to profit from client losses?

No. Our business model is based on providing individuals with the opportunity to trade the world’s financial markets, in exchange for fair and proportionate transaction fees. It's a well-known fact that trading successfully is difficult, and most speculative traders tend to lose. However, we do not typically benefit from trading losses that an unsuccessful client may experience.

Mostly, our clients offset each other’s positions. For example if client A buys one lot of the DAX and client B sells one lot of the DAX, both sides of the trade are covered. This means we're not exposed to the profit or loss of either client. Instead, we make our money via the spread (i.e. the transaction fee) that each client pays to trade.

Sometimes, a large majority of clients will trade in one direction. When this happens, we'll protect our exposure to risk by hedging in the underlying market. For example, if client A and client B both buy the DAX, we may buy actual DAX futures. This then covers the amount we'll pay out if both clients are successful.

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Yes. IG does trade against retail traders.

IG also has a lot of institutional traders. If your are trading low volume stock or Singapore CFD equities, the dealing desk will manually lock your order for a good 30 seconds so that you cannot delete nor change the order price level for the 30 seconds when they there is another bigger clients want to unload. 

I have been locked this way as many ast 4 times in the past and cost over SG$10,000 loss. When I called IG, it said the dealing desk manually lock my orders with an excuse they are putting my order on hold so that they hedge it on the Exchange. In the first place I trade CFD and CFD is internal market within IG environment and our trade does not affect the market. It is highly irresponsible to lock our order. My complaints to IG for compensation via calls and emails all went without any positive response and the replies from them are as stated above. CFD market is internal market and our order should not be touched by dealing desk at all time even if there is no liquidity to fill our order then our order should just be left unfilled. At no time our order should never be locked by Dealing desk. To me this is day light robbery.

Secondly, IG has deployed internal algorithm to hunt your hard stop losses and also filled in your limit order with a spike to the dot before immediately move in the opposite direction big time.

Thirdly, some time IG platform will freeze and unable to re-login back when you are in a trade. This made it extremely dangerous when we cannot see the price action on the chart. This had happened to me a few times.

Fourthly, nowadays even if your platform freeze or has other problem on your trade, call to their dealing desk during US market opens 100% of the time no support or dealing desk will pick your calls. My phone was kept ringing for 30mins or more and many different days. This is again does not speak well of the kind of support IG gave clients.

The only attraction I use IG is the ease of use of their trading platform.

These kind of  underhand tactics above are played out in IG on daily basis which made our day trading very difficult to win. It is very visible if your trade the small time frame how IG's manipulations are done.

 

 

The above comes from someone who trade daily with IG for the past 3 years. I am even considering to stop trading through IG because of the above under hand tactics. Sometimes 

 

 

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Hi traderx,

To this:

"Secondly, IG has deployed internal algorithm to hunt your hard stop losses and also filled in your limit order with a spike to the dot before immediately move in the opposite direction big time."

From time to time I had the similar experience that I didn't feel it was from genuine market behavior...

I am trading ASX 200 Index CFD on the daily basis. I am a retail trader since Jan 2021.

I had experienced from loss of many good opportunity from good gain, simply because in those occasions, once (within seconds) and right after I closed my positions after period of time of no movements in supporting my positions, then all of sudden it started to move in supporting the positions I just closed !!!

Similarly, in several occasions (mostly after 4pm AEST), even though I was very disciplined and followed the trend being supported and confirmed by 8-10 of different types of technical modeling analysis, once I entered position, the trend then turned against me (out of blue no idea) and ensured I locked into loss territory...

From the above experience, it didn't look like genuine marketplace movement behavior, though I always blame myself, of course 😞

But, after another thought and asking myself, the ASX 200 Index figure is by no-doubt well published (real-time or past figure), it is simply impossible to be manipulated the ASX 200 Index real-time figure in a silo environment.

So I don't think there is anything unethical for market price manipulation on IG platform.

However I just still can't explain why some times the market just all of sudden ran against me upon entering or existing trades...

One more thing on this:

"IG has deployed internal algorithm to hunt your hard stop loss"

I believe that the above is not IG's fault, it is the behavior of how the deal making works on exchange system. Because the exchange is just like a match-maker, which always picks orders within close ranges for match-making deals. So if your Stop-Loss is not set to be big enough, then you would become the best candidate for the match making, and of course you would be hunted down quicker by the exchange.

 

Cheers

Victor

 

 

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Guest Richardo

I am having the same doubt and questions if the IG market isn't manipulated since yesterday I saw a spike down of more 45 points on the Netherlands marker and a minute after that it spiked up again. 

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On 07/05/2021 at 22:04, pravid17 said:

Does IG aim to profit from client losses?

No. Our business model is based on providing individuals with the opportunity to trade the world’s financial markets, in exchange for fair and proportionate transaction fees. It's a well-known fact that trading successfully is difficult, and most speculative traders tend to lose. However, we do not typically benefit from trading losses that an unsuccessful client may experience.

Mostly, our clients offset each other’s positions. For example if client A buys one lot of the DAX and client B sells one lot of the DAX, both sides of the trade are covered. This means we're not exposed to the profit or loss of either client. Instead, we make our money via the spread (i.e. the transaction fee) that each client pays to trade.

Sometimes, a large majority of clients will trade in one direction. When this happens, we'll protect our exposure to risk by hedging in the underlying market. For example, if client A and client B both buy the DAX, we may buy actual DAX futures. This then covers the amount we'll pay out if both clients are successful.

 

On 07/05/2021 at 23:22, traderx said:

Yes. IG does trade against retail traders.

IG also has a lot of institutional traders. If your are trading low volume stock or Singapore CFD equities, the dealing desk will manually lock your order for a good 30 seconds so that you cannot delete nor change the order price level for the 30 seconds when they there is another bigger clients want to unload. 

I have been locked this way as many ast 4 times in the past and cost over SG$10,000 loss. When I called IG, it said the dealing desk manually lock my orders with an excuse they are putting my order on hold so that they hedge it on the Exchange. In the first place I trade CFD and CFD is internal market within IG environment and our trade does not affect the market. It is highly irresponsible to lock our order. My complaints to IG for compensation via calls and emails all went without any positive response and the replies from them are as stated above. CFD market is internal market and our order should not be touched by dealing desk at all time even if there is no liquidity to fill our order then our order should just be left unfilled. At no time our order should never be locked by Dealing desk. To me this is day light robbery.

Secondly, IG has deployed internal algorithm to hunt your hard stop losses and also filled in your limit order with a spike to the dot before immediately move in the opposite direction big time.

Thirdly, some time IG platform will freeze and unable to re-login back when you are in a trade. This made it extremely dangerous when we cannot see the price action on the chart. This had happened to me a few times.

Fourthly, nowadays even if your platform freeze or has other problem on your trade, call to their dealing desk during US market opens 100% of the time no support or dealing desk will pick your calls. My phone was kept ringing for 30mins or more and many different days. This is again does not speak well of the kind of support IG gave clients.

The only attraction I use IG is the ease of use of their trading platform.

These kind of  underhand tactics above are played out in IG on daily basis which made our day trading very difficult to win. It is very visible if your trade the small time frame how IG's manipulations are done.

 

 

The above comes from someone who trade daily with IG for the past 3 years. I am even considering to stop trading through IG because of the above under hand tactics. Sometimes 

 

 

 

On 11/05/2021 at 13:17, manafull said:

Hi traderx,

To this:

"Secondly, IG has deployed internal algorithm to hunt your hard stop losses and also filled in your limit order with a spike to the dot before immediately move in the opposite direction big time."

From time to time I had the similar experience that I didn't feel it was from genuine market behavior...

I am trading ASX 200 Index CFD on the daily basis. I am a retail trader since Jan 2021.

I had experienced from loss of many good opportunity from good gain, simply because in those occasions, once (within seconds) and right after I closed my positions after period of time of no movements in supporting my positions, then all of sudden it started to move in supporting the positions I just closed !!!

Similarly, in several occasions (mostly after 4pm AEST), even though I was very disciplined and followed the trend being supported and confirmed by 8-10 of different types of technical modeling analysis, once I entered position, the trend then turned against me (out of blue no idea) and ensured I locked into loss territory...

From the above experience, it didn't look like genuine marketplace movement behavior, though I always blame myself, of course 😞

But, after another thought and asking myself, the ASX 200 Index figure is by no-doubt well published (real-time or past figure), it is simply impossible to be manipulated the ASX 200 Index real-time figure in a silo environment.

So I don't think there is anything unethical for market price manipulation on IG platform.

However I just still can't explain why some times the market just all of sudden ran against me upon entering or existing trades...

One more thing on this:

"IG has deployed internal algorithm to hunt your hard stop loss"

I believe that the above is not IG's fault, it is the behavior of how the deal making works on exchange system. Because the exchange is just like a match-maker, which always picks orders within close ranges for match-making deals. So if your Stop-Loss is not set to be big enough, then you would become the best candidate for the match making, and of course you would be hunted down quicker by the exchange.

 

Cheers

Victor

 

 

 

On 12/05/2021 at 20:24, Guest Richardo said:

I am having the same doubt and questions if the IG market isn't manipulated since yesterday I saw a spike down of more 45 points on the Netherlands marker and a minute after that it spiked up again. 

Hey all, 

Unlike some other brokers IG do not trade against clients and don't benefit when our clients lose. We hedge the same way as the majority of our clients (so if 60% were long and 40% were short we would hedge those 20% long that aren't covered). 

We have no benefit when traders lose. We make money from spread and commission so if anything we want out traders to win so they will continue trading with us. 

Unfortunately I can't be account specific and if you believe something is wrong on your account please reach out to us as I can't assist with this. 

If you have any questions on this please let me know by quoting my response. 

All the best, 

Charlotte 

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  • 2 weeks later...

I'd like to add I am trading turbos24 on the trading platform. When I close my position I see clearly let's say 20€ profit but when I check the account history it's less some times half of what the profit loss showed on the chart. IG is cheating even the profit/loss. 

They are clearly manipulating. I recorded some videos and I will post them so people can see. IG is cheating they don't allow traders to see entry price level on the chart as it happens with CFDs,  IG forces traders calculate the profit/loss in the account history manually on purpose so it's more difficult for the trader to keep track of the true profit. 

What amazes me is how blatantly they do it.

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1 hour ago, jt_1 said:

I'd like to add I am trading turbos24 on the trading platform. When I close my position I see clearly let's say 20€ profit but when I check the account history it's less some times half of what the profit loss showed on the chart. IG is cheating even the profit/loss. 

They are clearly manipulating. I recorded some videos and I will post them so people can see. IG is cheating they don't allow traders to see entry price level on the chart as it happens with CFDs,  IG forces traders calculate the profit/loss in the account history manually on purpose so it's more difficult for the trader to keep track of the true profit. 

What amazes me is how blatantly they do it.

i'll give you a hint

https://community.ig.com/forums/topic/11115-extremely-baffled-on-currency-conversion-fee/

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  • 2 weeks later...
On 29/05/2021 at 21:14, jt_1 said:

I'd like to add I am trading turbos24 on the trading platform. When I close my position I see clearly let's say 20€ profit but when I check the account history it's less some times half of what the profit loss showed on the chart. IG is cheating even the profit/loss. 

They are clearly manipulating. I recorded some videos and I will post them so people can see. IG is cheating they don't allow traders to see entry price level on the chart as it happens with CFDs,  IG forces traders calculate the profit/loss in the account history manually on purpose so it's more difficult for the trader to keep track of the true profit. 

What amazes me is how blatantly they do it.

This is completely untrue. I've been trading with IG for over a year as a top trader here on the platform and I have no issues. You can see your profit/loss and a chart from day one. The only thing you won't see on the platform while you trade a specific trade is the commissions and cost of borrowing, but those are quite easy to calculate yourself.

For example, if you buy 1000 shares of AAPL at 100 and sell at 120 you need to account for $20 each way of commissions and the cost of borrowing before being able to calculate your profit. Those are separate fees, if you trade pennies of course you will end up with a loss because of the fee even if you closed the trade green on the platform. This is normal and I like it better than having your average cost moving up every single day ! 

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  • 2 weeks later...

If you signup with a broker who is a market maker/dealing desk you should expect the broker to act as a counterparty to your trades (which has positives and negatives). You could search for an ECN, non dealing desk (NDD), or STP broker-dealer who just passes your trades to a liquidity provider without taking the other side of your trade.

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Hi RFSmithers,

Thanks for the tips... But when I searched for trusted "ECN" broker in Australia for CFD Index trading, IG Market is among the returned result!

So with what you suggested and what the search result I got, IG Market seems to be still the one to stick with for CFD Index trading.

Please note that, regarding the market trend is to be against your trade or not, from my experience so far, I think it is really up to you on when to enter the trade, for example:

- if you enter the trade at the time when the market is flat with no trend, then it is just like you jump into the calm water and then you make the big splash which could be against yourself

- if you enter the trade at the time when the market is on trending, where: if you enter against the trend, then you will be eaten alive from there - FULL STOP - Period; however if you enter on riding the trend, then you will be picking up the fruits along the way through...

 

So with the above, to summarise, it seems to me that (of course - correct me if wrong):

1) IG Market is still the trusted ECN broker in Australia for CFD Index trading

2) A trader needs to know when to enter the trade to ensure s/he to ride on the trend to pick fruits, but not to be eaten alive.

 

Cheers

Victor

 

 

 

 

 

What do you think?

Cheers.

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