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IG Preventing Trading

Question

Posted (edited)

(10 March 2020)

After making 2 successive trades within the last 24 hours,  IG Singapore unilaterally decided I cannot place another trade through their trading application.

An email query went unanswered for hours. Attempts at calling their service hotline went into a voice-recording loop. This service standard is very poor and extremely disappointing. 

 

Edited by TTBP
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Posted (edited)
4 minutes ago, dmedin said:

What does that mean?

I have made about £800 in the last couple of days.

so why are you whinging

Edited by Caseynotes

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2 minutes ago, Caseynotes said:

so why are you whinging

Because the system needs to be reliable and resilient independently of whether one happens to be making or losing money at the time.

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2 minutes ago, dmedin said:

Because the system needs to be reliable and resilient independently of whether one happens to be making or losing money at the time.

what system? IG's business model has been vetted by esma, the platform is a tool, sometimes tools break, no one is complaining about PRT or mt4 so implying the platform's problems are a due to IG manipulating the market is just dishonest.

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3 minutes ago, Caseynotes said:

the platform is a tool, sometimes tools break

Imagine if a bank said this about their online banking platform.  🤣

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2 minutes ago, dmedin said:

Imagine if a bank said this about their online banking platform.  🤣

online banking platforms are not infallible, what's your point?

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7 minutes ago, Caseynotes said:

online banking platforms are not infallible, what's your point?

 

They quite rightly receive a lot of scrutiny and public attention when they fail, without which they wouldn't have any incentive to improve their processes and upgrade their technology.  Perhaps brokers need to be subjected to the same standards as banks.

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26 minutes ago, Caseynotes said:

the platforms been an issue for a few days whereas the whinging has been an issue forever but mustn't look too deep because the aim of course is to scapegoat failure.  

'Few Days' he says!!! from a guy who doesn't even use it unless it's to check it's still there.

I've reported problems since I joined on the 10th March 2019!  My 12 month anniversary was this week and not even a card from you......Many people have reported problems since it went live.....

I've had answers such as 'it's your pc, your browser, your internet'.............OR 'no one else is reporting errors' etc. etc. etc.  Funny though that my pc has been replaced, my internet is faster, my OS has changed, so has my HD.  In fact it's all different, but i still need to refresh the charts to see volume info or candle movement.....even the Demo vs Live were reporting different info....with the Demo actually reporting more info than the Live chart!

The Retail Platform needs a reboot, Fact!  It's not consistent...of course there's PRT, other Brokers..........and??  Is that a solution to a platform that keeps breaking?

The forum is for feedback for punters and for IG...It's a partnership!  There's not a lot of technical feedback in here from IG and they're aware of that.  They're also aware of the technical issues with the platform and what is missing from it.

We just want a stable platform.  

This isn't your fight Casey!  Why are you still so involved in it?  You've literally quoted me 9 times ( I think) since yesterday.....most of your posts have been to me!

Of course we can be friends. :D

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5 minutes ago, dmedin said:

 

They quite rightly receive a lot of scrutiny and public attention when they fail, without which they wouldn't have any incentive to improve their processes and upgrade their technology.  Perhaps brokers need to be subjected to the same standards as banks.

they are, who says they don't and shouldn't but the automatic suggestion that the the bank must be involved in some kind of market manipulation is not the same thing.

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1 hour ago, dmedin said:

If I start to become consistently profitable and make any kind of serious money I will switch to CFDs, it's not my intention to avoid tax.

Spreadbetting is not tax avoidance. If for a second HMRC thought more money is made banning SB and move everyone to CFD, they would have done so a long time ago.

Losses on SB cannot be used to reduce your tax bill whereas CFD can. More people lose than win so if everyone moves over to CFD and starts to reduce their tax bills....

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9 minutes ago, nit2wynit said:

I've reported problems since I joined on the 10th March 2019!  My 12 month anniversary was this week and not even a card from you......Many people have reported problems since it went live.....

yes you spent a year complaining about specific problems that IG reported only you were experiencing and were not backed up by anyone else on the forum, whenever multiple reports did arrive on the forum for different problems you always jumped in with 'me too' as if they backed up your original concerns which they didn't.

have no idea why you are even still using it tbh.

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23 minutes ago, Caseynotes said:

have no idea why you are even still using it tbh.

I at least agree with you here....Defaulted gain just now.

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Thankfully I'm not bothering to trade this market as I see when I logged in that IG is basically restricting trade anyway. I would be fairly hacked off if (once again) I was unable to enter or exit as happened recently.

I take the point that maybe MT4 or others might work in booking orders (I cannot comment on this as I use IG's portal to trade) but the point that the platform's instability during highly volatile times sort of negates its usefulness is what is key here. I'm currently searching for more reliable alternatives and frankly I'm not disappointed with what I'm finding so far.

 

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Zut alors Eileen, I just made about £500 since my last post.  Beginner's luck :D

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5 minutes ago, dmedin said:

Zut alors Eileen, I just made about £500 since my last post.  Beginner's luck :D

That Halt took a few quid off me :(

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8 minutes ago, ChrisRobUK said:

I'm currently searching for more reliable alternatives and frankly I'm not disappointed with what I'm finding so far.

Would you mind sharing more info? What anternatives have you been looking into? Cheers.

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33 minutes ago, Kazeko said:

Would you mind sharing more info? What anternatives have you been looking into? Cheers.

Just for clarity, I'm not advocating for any specific broker below, but only presenting a list of the ones I have been looking into. Please consider which may be appropriate for you and your trading strategy/investment objectives.

  • Saxo (I believe also has DMA, like IG) Offers some simple embedded algo trading.
  • AJ Bell (Somewhat retail market focused but seems compelling)
  • Degiro (As above)
  • Sucden Financial (has a number of etrading offerings, a bit more sophisticated by initial impressions)
  • Fineco (Used to be a subsidiary of UniCredit, now floated)
  • Sharescope (expensive)
  • Other mention that looked fine was Interactive Brokers (US based but operate here in the UK too and has DMA)

Hope that is helpful to you

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On 12/03/2020 at 00:20, CharlotteIG said:

trade on our non-leveraged account

How do I change my account to non-leveraged account ?

Trying to place an order for 10000 @ 65 cents and get this message

"The maximum controlled risk stop size at one level is AUD9000. The minimum controlled risk spacing is 5 points."

What does it mean ?

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On 03/04/2020 at 09:40, Goldfish99 said:

How do I change my account to non-leveraged account ?

Trying to place an order for 10000 @ 65 cents and get this message

"The maximum controlled risk stop size at one level is AUD9000. The minimum controlled risk spacing is 5 points."

What does it mean ?

That's a share trading account. 

If the maximum controlled risk spacing is 5 for a size of 9000 and you're trying to place 10,000 it means you can have 9000 at the minimum stop. The remaining 1000 will need to go on with a stop 5 points away from the stop you placed on the previous 9000. 

All the best. 

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Guest GW89

I have this issue whereby IG decided not to allow me to open any more positions. But they did it in a very subtle way, claiming I have an invalid stop loss or take profit... totally crazy!! 

 

I am a winning trader. Still doesn't allow me to trade, why? 

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the aud/us has been going up significantly this morning; gained about a full cent: it has been `switched off' preventing you from trading; other fx pairs and indices are fully working. had to go to cmc markets to trade.

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Posted (edited)

please disregard my last stupid post; I have been trying to delete it but their appears to be no option to do this.

Edited by ajaoz

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1 hour ago, ajaoz said:

 

 

1 hour ago, ajaoz said:

 

 

1 hour ago, ajaoz said:

 

 

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