If it were not for hedging I probably would have been shaken out at a large loss after being caught wrong footed.
But there were opportunities to close out one leg of the hedge then the other in a fairly relaxed manner.
I use 3 brokers, one of which is Core Spreads. All brokers have their own benefits and I don't think anybody serious about trading should only deal with one firm. The big plus of CS is that they do fix their spreads which at the moment, for me and many others is a godsend. (We were guests at the family raceday at Plumpton last year which they sponsor so I can vouch for them being genuine and no this is not a veiled advert for their services).
Since I trade indices and hedge every trade, placing business with IG (or ETX who are even worse at the moment!) is impractical with the wide spreads.
I understand IG's argument for increasing the spreads at the moment BUT this part of their business (spreadbetting) is as bookmaker, so they don't have to do it.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.
The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.