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CFD demo vs live account


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Hello Everyone !

I am based in Australia. I have a query about the difference between IG live account, demo account and IG professional.

 

I have been watching stocks with gap ups in the price pre-market due to earnings & news etc then placing a pre-order before the market opens. For example...

 

On my CFD demo account, Stock A  previous close is $5 and has gapped up, place an order at $5.50, market opens up at $6, order filled straight away. close position and a profit taken. This is what i have been testing in demo mode anyway.

However, when i do the exact same on my live CFD account, placed order at $5.50, but my order was filled on open at $6 instead. Therefore, it was much harder to sell at profit as opposed to gain entry at $5.50 like in my demo. 

My questions are 

1. Does this strategy only work on demo account because the order isnt real which makes it very hard to practice when there is a difference between demo and live account. 

2. What is the best way to prevent your order from being filled at the price you dont want it to? ie the open price is usually not preferred. 

3. Is there a difference with the ways your order are filled in standard IG live account verse IG professional? that is does IG professional fill your order at pre-market open much better than standard?

Many thanks!!

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  • 2 months later...
On 21/04/2020 at 15:43, Leesin123 said:

Hello Everyone !

I am based in Australia. I have a query about the difference between IG live account, demo account and IG professional.

 

I have been watching stocks with gap ups in the price pre-market due to earnings & news etc then placing a pre-order before the market opens. For example...

 

On my CFD demo account, Stock A  previous close is $5 and has gapped up, place an order at $5.50, market opens up at $6, order filled straight away. close position and a profit taken. This is what i have been testing in demo mode anyway.

However, when i do the exact same on my live CFD account, placed order at $5.50, but my order was filled on open at $6 instead. Therefore, it was much harder to sell at profit as opposed to gain entry at $5.50 like in my demo. 

My questions are 

1. Does this strategy only work on demo account because the order isnt real which makes it very hard to practice when there is a difference between demo and live account. 

2. What is the best way to prevent your order from being filled at the price you dont want it to? ie the open price is usually not preferred. 

3. Is there a difference with the ways your order are filled in standard IG live account verse IG professional? that is does IG professional fill your order at pre-market open much better than standard?

Many thanks!!

I'm practicing pretty much the same strategy in the demo account (equities on the ASX). I've yet to try it out on my live account but have a feeling slippage will be a factor in the live account which isn't accounted for in the demo account. Would love to get a good answer from someone about this topic.

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