Jump to content

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


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...
  • Like 2
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

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      23,569
    • Total Posts
      96,878
    • Total Members
      44,145
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    sweettooth
    Joined 29/11/23 22:18
  • Posts

    • That's a wise call and it's important to also confirm that the exchange of your chosen should be in compliance and perhaps licensed in your country. 
    • Investing in crypto could be challenging especially the Fear of Missing out Lambo. This mostly affect traders trading strategy and ideology. Predicting the right time to buy is always cumbersome and that is why many analyst advise DCA because it curtails FOMO and gives you a long-term crypto trading mentality. In crypto Dollar Cost Averaging involves investing the same amount of money in a target token at regular intervals over a certain period of time, regardless of price. This will help to control volatility on your portfolios and minimize FOMO For example when you decide to invest $100 on a token and invest $10 daily or weekly or monthly till you fulfilled you $100 target investment on the token irrespective of the price of the token. This strategy helps a crypto trader to build his portfolio over the long term thereby he/she is not bothered by short-term volatility in the broader markets. This strategy mostly favours low-budget traders in building a strong portfolio but the problem most normally encounter is exchange minimum trading amount. One analyst advised on how to mitigate this was to accumulate on exchange that has lower trading fees and later send to where you desire to hold. He also noted that some of this exchanges are good in listing good projects for you to be among the early birds. Do you think DCA is the best method to accumulate token and which exchange offers the lowest tradeable balance and trading fees?
    • DXY   now wait for confirmation or rejection 
×
×
  • Create New...
us