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IOTA

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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?

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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. 

 

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@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. 

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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

 

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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. 

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@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.

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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.

 

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@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?

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