Jump to content
  • 0

Stop losses ignored during circuit breaker and phones unavailable


CrispyCris

Question

Was really enjoying the platform and the ease of trading.

I had my stop losses all set up, as I am not always able to monitor my trades so I like to keep safe.

When the circuit breaker went off I had no idea how long it had locked the account for and was unable to adjust or cancel anything.

The phone service was not working... yes probably due to being overloaded from other upset clients and when the circuit breaker went back on the price had gone far beyond my stop loss and wiped out my entire account making me sick to the stomach!

It seems options like these are to protect the companies like IG and not its customers! The customer is never right here and will always lose!

 

Very disappointed with this service and will not use again!

Link to comment

4 answers to this question

Recommended Posts

  • 0

Prices on both platforms were not even the same.  The delay on MT4 further resulted in re-quoting (i.e. can't execute the profit taking nor the stop lost orders).

Hugely disappointment.   No way they should run the book like this.  Very close to a scam.

  • Like 1
Link to comment
  • 0
On 12/03/2020 at 14:18, CrispyCris said:

Was really enjoying the platform and the ease of trading.

I had my stop losses all set up, as I am not always able to monitor my trades so I like to keep safe.

When the circuit breaker went off I had no idea how long it had locked the account for and was unable to adjust or cancel anything.

The phone service was not working... yes probably due to being overloaded from other upset clients and when the circuit breaker went back on the price had gone far beyond my stop loss and wiped out my entire account making me sick to the stomach!

It seems options like these are to protect the companies like IG and not its customers! The customer is never right here and will always lose!

 

Very disappointed with this service and will not use again!

A similar situation happened with me on the 09th March.  My spread betting positions got closed out automatically as the markets dropped heavily that morning and I had a margin call, IG platform was down and couldnt log in and the telephone system was overloaded and I couldnt get through.  I lost a lot of money, even though I tried to log in before IG closed me out and put in new money to avoid margin calls.  I complained to the IG compliancy team with a formal complaint.  Had to wait 4 weeks for a reply which was not to my satisfaction and have escalated the complaint to the Financial Ombudsman Service.  I dont believe it was fair or right to close me out whilst I tried to see my account to add funds.  I recommend for you to do the same! It will take 7 months for the FBS to review as they are so busy! But it will be worth it in the end! IG make millions a year - they need to invest in a reliable online investment platform!!!

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • I've developed an initial version of a market sentiment checker, which utilizes the concept of weighted log returns to gauge the mood of the financial markets. This tool is designed to simplify the complex task of assessing market sentiment by analyzing fluctuations in price data. By applying weights to log returns, it emphasizes the significance of certain data points over others, offering a more nuanced view of market dynamics. This approach allows for a fundamental analysis of market sentiment and provides insights into the current state of the market at any given moment. It serves as a valuable tool for investors and traders looking to make informed decisions based on the underlying sentiment driving market movements. sentiment-sleuth - Github Link
    • Demo account: Please note that conditions on demo accounts may differ from real accounts. Some brokers may only provide overnight loans on real accounts and not on demo accounts.
    • Swap Rate: Check the swap rates for your open positions. Overnight loans are calculated based on the difference between the interest rates of a currency pair, and if the difference is small or negative, you will not receive a loan.
×
×
  • Create New...
us