Technical Analysis Day Trading on IG

[Guest francisg]

Hi guys,

Just joined IG. Is it a good platform for day trading stocks (i.e are trades instant, and are there enough good quality technical analysis tools)?

Also, I can't seem to find any scanners?

Thanks!

[Caseynotes]

Hi @francisg,  there are 4 platforms for stocks, 

the non-leveraged IG shares platform,

DMA with L2 data for shares or shares on cfd,

the IG online leveraged (spread bet or cfd) or the

Prorealtime (sb or cfd).

Presuming you are meaning the online leveraged, the screener hasn't yet been migrated from the old to the new. you can open the old by clicking on the arrow for the dropdown box, see pic.

Also see the thread linked on using the screener.

 

 

[Guest francisg]

Thanks! 

Im quite new to trading and would like to trade stocks and EFT’s using a real time system. Does the web (browser) based IG platform accommodate for that usage?

[Caseynotes]

@francisg, sure yes, your first decision though is whether you want to trade them on a leveraged or non-leveraged account. See this page.

https://www.ig.com/uk/shares

[Guest francisg]

@Caseynotes Definitely non-leveraged initially to limit my exposure. One concern I have is the speed of the web based system. Do you happen to know how much lag there is and how quick positions can be open/closed (any lag in doing so?). 

Many thanks for your help.

[Caseynotes]

@francisg, are you sure now? Platform lag is not a real problem and is measured in milliseconds (my mt4 is 32ms), more of a problem causing buy/sell lag is likely to be liquidity when trading actual stocks. There needs to be sellers to buy from and buyers to sell to, for most stocks that won't be a problem except in times of high volatility.

The sb/cfd (leveraged) market is much larger than the actual underlying market so the above concerns are less likely and of course you don't have to use all the leverage.