weekend trading 24/7

[Guest gb18]

What do I need to do to trade GBP/USD or EUR/GBP  today or on any weekend?   Gunnar

 

[247trader]

9 hours ago, gb18 said:

What do I need to do to trade GBP/USD or EUR/GBP  today or on any weekend?   Gunnar

 

Login, go to platform, search ‘weekend gbpusd’ , trade it. 

[dmedin]

30 point spread lol!

[247trader]

22 hours ago, dmedin said:

30 point spread lol!

True but also let me know how else I can trade fx which settles at the globally traded fx rate on sunday night especially over weekends with brexit! exclusivity means it lacks competition and can put a premium on it

[247trader]

22 hours ago, dmedin said:

30 point spread lol!

also do you know if this is fixed or varies

[dmedin]

15 hours ago, 247trader said:

also do you know if this is fixed or varies

It varies ...

lol @ claim of 24/7* trading, with this footnote:

* 24/7 excludes the 6 hours from 10pm Fri to 4am Sat, and 20 mins just before the weekday market opens on Sunday night.

Do IG understand what 24/7 means?

Edited October 21, 2019 by dmedin

[Ludwik Chodzko-Zajko IG]

Hihi,

30pt spread on weekend cable is fixed. We're looking at reducing if feasible / volatility permitting (for reference, narrowest indicative prices we saw  from 1900 Sunday were 50 pts wide). How much of a factor in deciding whether to trade on the weekend is spread, what would you see as attractive to trade?

Regarding true 24/7 trading - it's very difficult. We keep having to trade off between release time & platform up time - unfortunately trading hours aren't likely to increase soon. Only silver lining is that usually the 2200-0400 period is very quiet in terms of macro events.

Open to any other feedback re. weekend markets.

Thanks,

Ludwik

 

 

 

[dmedin]

14 minutes ago, Ludwik Chodzko-Zajko IG said:

Regarding true 24/7 trading - it's very difficult. We keep having to trade off between release time & platform up time - unfortunately trading hours aren't likely to increase soon.

 

My 2 cent's worth:

I am not concerned about 24/7 trading, in fact I think it's a silly idea, but you shouldn't claim 24 hour trading seven days a week when six hours of the sixth day are not available to trade.

I would however like you to improve the speed and reliability of your platform, and if that means taking it offline for an entire weekend, or 12 hours etc, then I would be happy with that.

Edited October 22, 2019 by dmedin

[247trader]

1 hour ago, dmedin said:

I am not concerned about 24/7 trading, in fact I think it's a silly idea, but you shouldn't claim 24 hour trading seven days a week when six hours of the sixth day are not available to trade.

"161 hours 40 minutes a week" or "24/6, plus 18 hours minus 20 minutes on FX and 2 minutes on indices" didn't have quite the same ring to it I imagine....

[dmedin]

21 minutes ago, 247trader said:

"161 hours 40 minutes a week" or "24/6, plus 18 hours minus 20 minutes on FX and 2 minutes on indices" didn't have quite the same ring to it I imagine....

Reminds me of back in 2000 when a UK company was offering 'free' internet domains (.co.uk, .com etc).  When I asked them why their 'free' domains cost £2.99, their response was 'well, it's so cheap it's practically free.'

That's how we do business in Britain ... by claiming to be something that we're not!

Of all the industries in the UK that has the most incentive to play by the rules and clean up its act, surely it's got to be the financial services industry.  Unless they are hoping to resume their swindling, cheating, fraudulent ways after Brexit.

[CharlotteIG]

22 hours ago, dmedin said:

Reminds me of back in 2000 when a UK company was offering 'free' internet domains (.co.uk, .com etc).  When I asked them why their 'free' domains cost £2.99, their response was 'well, it's so cheap it's practically free.'

That's how we do business in Britain ... by claiming to be something that we're not!

Of all the industries in the UK that has the most incentive to play by the rules and clean up its act, surely it's got to be the financial services industry.  Unless they are hoping to resume their swindling, cheating, fraudulent ways after Brexit.

Hey @dmedin

I've spoken to the marketing team about this. Although we have the footnote regarding the 6 hour time off, I do see where you're coming from so I will pass on the information. Luckily they sit very close to me! 

Thanks for leaving your feedback

[Guest fatfairy]

I used to get frustrated when weekends came around because I couldn't trade but now I enjoy the enforced break from the markets. Trying to trade over the weekend is not going to help your health and mindset over the longer term. 

Maybe use the weekend to work on yourself, your health and do the things you really enjoy. Just getting some perspective can really help your trading. Here's a website with some great ideas: https://www.thistradinglife.com/post/7-things-to-do-outside-of-the-markets-for-trading-success

Even if you want to do trading-related stuff, there's plenty of backtesting, strategy development and general reading around the topic you can do without actually trading. Oh and the spreads are HUGE too!