Not open to trade

[D600]

Comment replicated here as probably better placed here than Tech Support for Platform or App

 

IG, Could you please flag markets that are not open to trade on the screen prior to Place deal, or other activities are performed.

So if you have closed down one side of the market for what ever reason , the flag should make it obvious to a trader before doing any analysis or attempting to place a trade and get a THIS MARKET MAY NOT BE SOLD TO OPEN message.

Many thanks again.

[Caseynotes]

Hi @D600,  your suggestion sounds a good one, a work around would be, when logged in, to go to the IG welcome page and use the search to find the company then click on 'Product details', any restrictions should be listed there. see pic.

[Guest PandaFace]

Surprised this isn’t in the ‘info’ part of the platform tbh

[D600]

3 hours ago, Caseynotes said:

Hi @D600,  your suggestion sounds a good one, a work around would be, when logged in, to go to the IG welcome page and use the search to find the company then click on 'Product details', any restrictions should be listed there. see pic.

Hi @Caseynotes

Yes you can do the same in the actual market trading screen with the info button at the top right - but it still does not tell you the market cannot be sold to open.

This fact is also inconsistent across markets i.e. in the dealing process the info arrives at different stages.

Bottom line is you could be doing some market research on trade set-up, at the end of which you eventually discover the market isn't even tradable. This of course is utter nonsense. IG should take down products that are not tradeable - in particular the forwards.

All furcoat and a padlocked chastity belt.....

[Caseynotes]

Hi @D600, your suggestion of warning flags remains favourite. Being unable to get into or out of trades in very illiquid stocks will always a problem which is one of the reasons IG takes down companies who's market cap have slipped below a certain level. They will remove the company from their list but first need to wait for all clients to have exited their open positions.

[JamesIG]

I'll make sure to pass your comments on - thank you for that! As an FYI I have had a look at your account and believe the stock you were trying to trade should be fine, however you can only short the DFB or cash price, not the future. Granted this is based on an assumption but let me know a specific stock if you wanted greater clarification. 

[D600]

@JamesIG / @Caseynotes further to this, more recently I have encountered many trading situations where the system refuses the LIMIT position saying the position is too far from current market price.

An example last year was I wanted to enter a long position on the VIX when it was at 11 and you refused to take a LIMIT at 20. I never placed the trade and it ended up blowing past 30.

More recently I wanted to trade Natural gas products and eventually ended up on an EFT (perish the thought), the risk/reward was 1:1.7 and the LIMIT was refused. REALLY?

So if we don't have a LIMIT and the market moves fast we cannot close out (even over fifteen minutes!), and then when we want to place a LIMIT you restrict the profitability of the trade.

You also seem to have platform problems where yesterday I was entering a limit in the Position page and the system would not take it, I then went to the chart and moved the limit line. Refresh, Back and forth and eventually got it entered. Something not right there - maybe I am over challenging its capabilities. 

I don't have time to day trade, so don't trade very often, but there is too much built-in frustration. You can never login with the confidence you can trade - you never know what next will pop-up to prevent a deal and the opportunity is missed. Which is probably why pro traders tell me to go elsewhere.

[JamesIG]

We don't want clients to set limit or stop orders significantly far away from the market. Clients generally set up trades like this and forget about them - some may want exactly that, but the majority don't - and therefore we have these specific boundaries in place. You can always use our alerts feature,  maintain an active overview of your account, or if you really wish call us and we can see what we can do manually. These settings have been applied to account for a significant majority of users. 

With the VIX at 11 it would have had to increase in price by 81% for that order to be triggered. The same goes for the NAT GAS position. Whilst I appreciate the RR ratio was 1:1.7, you're still needing the ETF price to more than double - increase by 117%  - which is quite a significant distance away from the market. Obviously we have thousands of markets which need to follow some form of universal distance from the market, so we have these values in place.

As a rough FYI the setup of the market is usually 75-95% and is variable. 

[D600]

@JamesIG

Thank you for your response.

You might advise when you expect to address the flag suggested.

Thanks again