By ScalperAndy · Posted
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.
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I think that there is a problem with your new platform, sometimes I can have the SL of 5 pips away, while sometimes the minimum SL available is 165 pips away.
I spoke with a guy from your support and he was saying: "I have with one of our dealers and Stop loss distance depends on the market conditions".
As I told him I didn't talk about the spread which ok, sometimes can be 2-3 or even 5 pips, np with that.
The problem is that the minimum SL available is of 165 pips!!! Your response was :
"As per our dealing desk, there is no error on our platform. We raised our distances during high volatility."
"As mentioned before, we change the stop loss distance as per the market volatility. Whenever that happens, please wait and check after 15-20 mins, it should be back to normal.
There is no bug."
In conclusion, I will open a position and I have to use the SL of 165 pips and if I have to go away for half an hour I have to pray that it wouldn't move against me 165 pips because the SL of minimum 5 pip which is advertised on your site doesn't work. That's great.
It did happen so far on usd/jpy and eur/usd pairs few times in normal trading conditions - not during the news, and trading is not possible this way. And it did happen on both accounts - the cfd and the spread betting account. I can send you photos if you want.
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