Why IG limited my live account? How is this industry working?

[Guest catalinpasnicu]

Hello everybody,

 

I am a customer of IG for more then 2 years now. I'm a full time trader and trade different markets. Since last year i developed a strategy for trading the Digital 100s 5 minutes market for EURUSD and GBPUSD. My accuracy on this strategy is over 85%. Since i started to use my strategy and trade Digital 100s i have made consistant profits on a weekly basis. Recentelly because i was doing constant profits IG limited my account and now i can't trade anymore Digital 100s. Now here is my question IG and you better come with a explanation to what i am asking. Why would you limit my account and not let me to trade? Why do you even offer Digital 100s? If a trader just like me trade and loose money everything would be fine, and he/she would be able to trade without limitations,correct? But if a customer/trader like me makes consistant profits that's bad for company pockets and you put a limit in my account not to be able to trade anymore!!! Why? How is this industry working? This is not fair and i will not stop here! I will go to all regulatory bodies from Uninted Kingdom if IG does not do something regarding this! For what even IG offer brokerage if i get limited because what i'm doing constant profits?

[Guest Mr-Yellow]

> My accuracy on this strategy is over 85%.

This is how these "chop shops" work. They are your counter-party so if you start winning too much they cut you off.

> If a trader just like me trade and loose money everything would be fine

Yup.

[Guest Alpatron2018]

what exactly happened 

[Guest DRAAAMMY]

 

As from the 1st of August 2018 IG will no longer have Digital 100's available to trade due to European Securities Markets Authority (ESMA).  So no matter if the UK leave the EU we still have to comply with their rules.

I guess the only answer to this is to find a broker outside of EU authority - the USA perhaps?

 

 

[Guest PandaFace]

Yeh what exactly happened @catalinpasnicu because as others have said it’s more likely to be the effect of regulatory change rather than IG themselves. 

[Guest DRAAAMMY]

85% success rate is very good, any chance of sharing your strategy with us?  Or have you posted it on a forum?

[Guest PandaFace]

Tbh 85% success isn’t that difficult from a binary perspective. That’s the whole point... if you’re bidding on a digital 100 when it’s priced at say, 90/95 that’s basically saying there is an HUGE likelihood of it becoming right and settling at 100. You can bid 20 times at this level, statistically you’re going to win 19 of those times, but you only need to lose once and you’d have lost the same amount as those 19 wins...

interested on the reply tho