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 placed my first order with IG (though not my first trade). It was after hours, I placed an order on the spreadbet platform. I input the price I wanted to sell in the 'price level' box and set stops etc... The following day I'd found my trade had been initiated some 10 points lower than the price I specified, with the stop some 10 points lower which resulted in me being stopped out, whereas I would've still been in the trade at my desired stop.
It was my understanding that this is a limit order, the price level is the price I want to enter the trade. What's the point in putting a price if the order just opens at a different (less favourable) price?
" Limit orders will usually be filled at your chosen price, or sometimes even a better price if one is available at the moment the order becomes filled. "
Have I thoroughly misunderstood something here or has IG made a mistake?
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