Jump to content

what do other providers do better than IG....?


trade247

Recommended Posts

Appol if this isn't aloud @JamesIG - and feel free to delete if not, but I wanted to ask the Q. I also believe you are fine with open discussion as long as it isn't obvious sales push or other websites pushing links and stuff like that.

But my question is: What do other CFD and Spread providers do better than IG? I've tried a few (which remain vague for the purpose of this  chat) but I can't really find much. I think theres a hell of a lot of stuff which could be better of course - no one company is ever perfect and don't get me started on the current share dealing offering - but as a differentiator for other companies I'm lost. 

...discuss :) 

Link to comment

i wonder if other providers gasp stop you out as much as IG .. the number to times i am stopped out on the low of the moves overnight suggest it isnt random 

remember IG is a casino u are betting against them .. they make and change spreads to suit them .. only them .. 

so effectively it is a casino with rigged games 

Link to comment

We hear a lot of complaints about IG and the industry generally on the forum and things are not perfect and perhaps there are some individual cases of stuff happening (I don't know) but short of buying a seat on an actual exchange, if you want to trade, then you have to use a market making broker so accept the way it works and work with it or don't do it is my view.  A few general observations:

  • People using services such as IG (and others) offer should fully understand how they work and set up their methodology accordingly.  How can anyone, for instance, buy a futures contract and not know exactly when it matures and what they have to do to roll it?  If you don't understand how it works then you are just asking to be a statistic.  And BTW, it isn't hard to find out how it works, the info is all on the site or call and ask someone from IG to walk you through it.
  • Many of the great traders out there have said that new traders often rage at the system, their broker, the market in general but actually it is a manifestation of their psychology.  On the forum and in trading training and trading books psychology is often referred to.  This is both the group theory psychology of the market AND of the individual trader.  You have to get your head straight and realise the market is indifferent to you.  I am not saying scams and poor behaviour don't exist just that it is not a general endemic thing.  Independent traders still make money because they are good at what they do.  They didn't get like that without a lot of effort and indeed losses along the way.  And they absolutely became experts in the markets.
  • I use IG because they are a listed company and the biggest operator and therefore the most stable and reliable.  I do not believe IG act against their clients, that would be corporate suicide, they need us to generate earnings and they want us to be successful so we keep doing that.  James already answered the question on how IG acts with respect to their risk vs their clients positions.  I am comfortable with that.  IG keep client money separate from their own, this is important too.  There may be others out there that do bet against their clients, these I would not touch.
  • Regarding IG as a casino, in the sense that all investment on stock exchanges is betting of a sort then ok but, as per the above point, we are not betting against IG as the house but the market as a whole.  It is a zero sum game, if I win a bet then the person who took the opposite side of my trade loses.  Trading is competitive, fact!
  • Regarding the overnights spreads thing, it is a pain and I wish IG would look at not doing it.  However if you are aware of it then adjust your stops accordingly and reset in the morning.  The worst time period (e.g. for stocks) is the 22.00-23.00 effective close period.  And you have to watch out for any stop in or limit orders you may have on too.  If my stops were that close to the market overnight I would strongly consider closing my positions and seeking a reentry in the morning if only to get a descent nights worry free sleep...
Link to comment

thnks all - some interesting insight. I agree mercury - I believe that if people are really pissed about vertain things then to be honest they probably just don't understand.

@london if you reallllllly think you're betting against IG then i'd probably stop trading. You either don't understand and/or don't agree with the company. either way - i'd get out

 

Link to comment

People complain so often about "stop hunting" but I don't see this happening with IG. Of course I also experienced that trades went against me and just after they touched my SL they took off in the opposite direction but often I also experienced that I was extremely lucky that a limit-order for take profit was executed though price traded only for a second at that level or that price turned around just 1-2 pips before my SL was hit.

If one mistrusts IG to handle the orders correctly one should stop trading CFDs and start trading real futures (for example) at the stock market.

I personally do both. I have an account with IG and a second account at another broker when I want my order to be routed to an exchange. In some situations I prefer the first in other the second.

Just take what is right for your need. One doesn't eat a soup with a fork... 

Link to comment

I've never had any issues. Markets turn and your stop game just isn't right obviously. Stagger orders. I had a trade stop out by a point and then i asked IG to confirm it and they sent evidence from the stock exchange that the exact level was hit. 

You can always ask for proof. 

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • WTI Elliott wave analysis  Function - Counter-trend  Mode - Corrective  Structure - Impulse for wave 1 Position - Wave 1 Direction - Wave 1 is still in play Details - Price could currently be in the blue wave ‘iv’ bounce or 2nd sub-wave of blue wave ‘iii’. The two scenarios support an extension lower for as much as the price remains below 81.07. Since April 2024, the West Texas Intermediate (WTI) crude oil market has been descending into an impulse wave. This indicates that the recovery from the December 2023 low has likely concluded, and prices may extend lower, potentially falling below that previous low in the coming weeks. The long-term outlook for WTI remains bearish. With medium-term price movements now aligning with this outlook, it might be prudent for buyers to reconsider their positions and switch sides on this commodity.   Analyzing the daily chart, the blue wave X of the primary degree reached its peak at 95 in September 2023. Prior to this, the preceding blue wave W commenced at 130.9 in March 2022 and concluded with a double zigzag structure at 64.56 in March 2023. From the peak at 95, we have been tracking the blue wave Y, which subdivides into an (A)-(B)-(C) zigzag pattern. The high of 87.63 confirmed wave (B), and the current decline is part of wave (C). The impulse wave declining from 87.63 can be identified as wave 1 of (C). This decline has been further detailed on the H4 chart.   On the H4 chart, the price action is currently undergoing an upward correction within blue wave iv of 1. If the price remains below 81.07, we can anticipate further selling pressure, which would complete blue wave v of 1 before a more significant corrective bounce in wave 2 begins. However, if the ongoing minor recovery surpasses 81.07, it would suggest that wave 1 has already concluded, and the price is now in wave 2. The ultimate invalidation point for this analysis is at 87.63; as long as prices remain below this level, sellers should maintain control in the medium term.   To summarize, the WTI crude oil market's recent price movements suggest a continuation of the downtrend initiated in April 2024. The completion of the recovery phase from the December 2023 low, coupled with the formation of an impulse wave, points towards further downside potential. Traders should closely monitor the key levels of 81.07 and 87.63 to confirm the ongoing wave structure and make informed trading decisions. As long as the price stays below 87.63, the bearish outlook remains valid, and sellers are likely to dominate in the medium term. Technical Analyst : Sanmi Adeagbo  Source : Tradinglounge.com get trial here!  
    • Recently, the comments of the Indian billionaire and Kotak Bank CEO Uday Kotak have thrust the status of the US dollar back into the spotlight. Kotak referred to the dollar as the "biggest financial terrorist of the world," a statement that has sparked widespread controversy. At the same time, the Asia-Pacific markets have experienced some unusual stock fluctuations, with the significant stock of Sony drop drawing particular attention. Ryan Anderson will delve into the implications of the remarks of Kotak, explore the stability of the status of the dollar, and examine its impact on the stock market. Questioning Dollar Hegemony The public description of Kotak on the dollar as a "financial terrorist" has, despite his subsequent attempts to soften the statement, raised questions about dollar hegemony. The position of the dollar as the the primary reserve currency of the world has long been considered a cornerstone of the financial system. However, with shifts in the global economic landscape and adjustments in international political relationships, some countries and individuals have begun to question the dominance of the dollar. Ryan Anderson believes that dollar hegemony gives the United States asymmetric power and advantages, even amounting to financial bullying. The comments of Kotak represent dissatisfaction and doubt about dollar hegemony, reflecting the attention and concern of the international community regarding the status of the dollar. Stability of the Status of the Dollar Ryan Anderson points out that despite the doubts surrounding dollar hegemony, there is currently no clear alternative currency, and the dollar still dominates the global financial system. The position of dollar as the reserve currency of the world has historical and institutional advantages, with the position of the United States in the global economic and financial systems being unshakable. Additionally, the liquidity and stability of the dollar are crucial reasons for its stable status. While some countries and regions are making efforts to promote a diversified reserve currency system, replacing the dollar remains fraught with difficulties and challenges. The Stock Fluctuations of Sony Aside from the questions about dollar hegemony, the unusual stock fluctuations of Sony have also garnered widespread market attention. As one of the blue-chip stocks of Japan, the stock movements of Sony have impacted the entire Japanese stock market and even spread to other Asia-Pacific regions. The rapid decline in the stock price of Sony may be influenced by various factors, including market sentiment, internal company issues, and industry competition. Although the stock volatility of Sony may be a short-term phenomenon, Ryan Anderson advises investors to remain vigilant, adjust their investment strategies promptly, and mitigate investment risks. Despite the remarks of Kotak sparking discussions about the status of the dollar, the dollar still firmly holds its dominant position in the global financial system. Ryan Anderson suggests that investors approach market volatility cautiously, adjust their strategies promptly, and stay attuned to changes in global economic and political dynamics to reduce investment risks. Additionally, investors should remain rational and calm during stock market fluctuations, avoiding excessive influence from market sentiment. Rational investing and long-term holding are key to achieving stable returns.
    • With Ethereum's ETF coming soon, people are watching the market closely. This made me think of MON protocol is from PixelMon, a project that almost got rugged about a year ago but has now gotten its mojo back with over 120 gaming projects collabo, a meteoric rise in its NFTs and attracted a multimillion dollar investment from renowned VCs. Its story is inspiring for other blockchain projects They've got one of the largest airdrop in the ecosystem with early adopters having PixelMon cards (going to be airdropped before TGE) and the MON mission questers going to be airdropped after TGE, And here's some exciting news - the Protocol is about to be listed on Bitget, This is a big step forward for the project and shows it's growing and gaining traction,what are your thoughts on gamefi and if You have tried out their game play what's it like please do share.
×
×
  • Create New...
us