Jump to content
Sign in to follow this  

IOTA

Recommended Posts

Good question. I think IOTA is a very interesting one. The problem is whether there will be demand on IG's platform for clients to trade it. Liquidity will be key and volume important. 

What is IG's take on IOTA?

Share this post


Link to post

Hi @1st4freedom and @TrendFollower

Thank you for your interest in trading IOTA with IG. We are currently in process of reviewing the option to offer IOTA, however, there are a few implication such as demand, hedging and storage that we need to consider before offering it. At this point, due to the aforementioned, we are not in a position to offer IOTA. If this situation changes, we will be notifying our clients. Please note that we have recently launched 3 new coins on the back of IG Community poll. 

 

Share this post


Link to post

@NadelinaIG,

Thank you for such a quick response. It is very much appreciated.

Plus500 which is another platform I use for trading Cryptocurrencies offers IOTA. How do they manage it? If IG want to be perceived as better than Plus500 then they need to improve their Cryptocurrency offering. 

Share this post


Link to post

This is Ripple all over. When the price action for Ripple was shooting upwards like a Rocket I had to use another platform other than IG as IG did not offer it otherwise I would have missed out on spectacular gains. Again I am using another platform for IOTA as IG do not offer it. Once the money is made IG will then come and offer it!

IOTA price analysis: IOT/USD goes ballistic, moving above $0.7100 as IOTA team release PoWaaS client

https://www.fxstreet.com/cryptocurrencies/news/iota-price-analysis-iot-usd-goes-ballistic-moving-above-07100-as-iota-team-release-powaas-client-201808280754

 

Share this post


Link to post
11 hours ago, TrendFollower said:

 

Plus500 which is another platform I use for trading Cryptocurrencies offers IOTA. How do they manage it? If IG want to be perceived as better than Plus500 then they need to improve their Cryptocurrency offering. 

Generally by **** you on the price, taking a huge cut in overnight charges which is astronomical, and then making a load of money to offset their risk in low liquidity. 

I’m also fairly confident they also offer asymmetrical spreads when there’s a strong trend. 

Plus are scumbags. 

Share this post


Link to post

@PandaFace, I agree with you. They all do it. 

However, if I want to spread bet (not physically acquire) say IOTA and want to use leverage to enhance the probability of any profit maximisation on a trade then what choice do I have? The same applied for Ripple. I had very few options.

I accept charges are important but if the trend is so strong like it was on Ripple then it clearly outweighs any charges when you look at the profits achieved. However, I accept your points and agree with you.

Share this post


Link to post

The problem with plus 500 is that you are restricted to small positions and limited timeframes to trade, as I trade medium to longterrm.

Therefore I am still using Bitfinex for leveraged trades with IOTA.

 

Share this post


Link to post

@1st4freedom, yes that is right. I too trade (spread bet) cryptos with a longer time frame. I have tried day trading cryptos in the past and there is money to be made but I just simply do not have the time to day trade. 

That's interesting using Bitfinex. How do you find it?

I use IG too. IG's choice is poor and the charges annoying but the service is generally quite good. At this stage I do not want to physically acquire any cryptos until I am satisfied on any one of them in terms of being widely accepted and being able to physically use it to acquire goods and services around the world. 

What are the advantages of using say Bitfinex over say spread betting on IG for cryptos?

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,632
    • Total Posts
      39,218
    • Total Members
      49,445
    Newest Member
    abzt94
    Joined 21/10/19 23:45
  • Posts

    • It varies ... lol @ claim of 24/7* trading, with this footnote: * 24/7 excludes the 6 hours from 10pm Fri to 4am Sat, and 20 mins just before the weekday market opens on Sunday night. Do IG understand what 24/7 means?
    • Fund manager Mark Denning, who was part of a team running more than £229 billion of assets at Capital Group, has been forced to resigned after allegedly breaking investment rules. A BBC Panorama investigation – set to air tonight at 8.30pm – will accuse Denning of investing in shares which were also held by the funds he worked on. This is seen as a conflict of interest within fund management as a manager could potentially profit at the expense of his clients - the fund manager could use the significant assets of a fund to push up the share price of a company, benefiting his other investments. https://www.morningstar.co.uk/uk/news/196565/fund-manager-resigns-ahead-of-damning-bbc-panorama-investigation.aspx   And how do his fellow financial professionals react to this?  Well they call him a 'uniquely talented' colleague.  Seems that his only fault was to get caught screwing the dumb retails clients over.    Let's face facts ... if you're 'little people' then you aren't safe ANYWHERE in the financial markets. You WILL get screwed over and eaten alive.
    • Good luck trying to keep up with all that 🤣
×
×