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Everything posted by Chrisblu1

  1. Hi Val, you only need to send that much by card. If you set up a bank transfer you can send smaller amounts if you want. Just go to payments section and read ALL of the instructions about bank transfer especially the part about your name & IG acc number for reference, making sure you send to the correct acc CFD/shares or spreadbet as the acc nubers are different. You can send any amount and once set up with your bank with IG as a payee its pretty easy and if I send it now 9.30pm you can normally use it tomorrow morning - so not instant but ok for my purposes. Plenty of other spreadbettors, but you have to do your own due diligence on them. Cheers
  2. Hi Ian, the guarunteed stop is just way to stop overexposure, stop the court cases which happened and the adverse headlines of people not getting out of positions and losing incredible amounts - like the EURCHF losing 40% in a day, brokers went out of business, individuals losing fortunes etc. Nothing to do with profitabilty but a safety net, in my opinion this type of event was the catalyst for the ESMA, not small stops. I have zero interest in singing fron IG's hymm sheet, if you took the time to look at my history you would see this( I would not reccommend this for your sanity's sake!!). But I do agree with them on this - why? Because I see the costs of business going up one way or another due to this. It could be real bad which is why I am looking for the ESMA to look at other things to mitigate this - its probably all in vain and they won't give a hoot about stops or anyones opinion bar their own - so be it. Ian with regard why is high leverage beneficial for account holders, if your profitable its you best friend, if you lose its your worst enemy - I have agreed with you but only when people take stupid overleverged trades on illiquid markets, or in front of NFP type events that go south and they bet north. If you are sensible you have nothing to fear about leverage. Oil is traditionally poorly spread within the spreadbet industry so no surprises there - up to everyone to investigate ways to reduce thier costs of business whether with a futures broker or to other spread firms. I would rather not have this conversation at all and be left well alone, but the games afoot and I think it is everyones responsiblity to respond as they see fit. You can't please everyone whatever happens so you might as well do what is best for you and your family. All the best......
  3. Hi Ian, I agree in principle with most of what you say. Not 100% convinced on small losses - depends on the strategy and their is always a cost of business/trading. I think cut your losses quickly and let your runners win is almost one of the ten commandments depending on your style. People need to lose in order to work out how to be consistent and this can be a lengthy process. In my opinion the biggest issue is over leverage - I personally know people who have much more money than me a make a complete hash of things - the bigger the money the bigger the fool sometimes. You do sound convinced that once the ESMA put in place their proposals that there will not be any other cost of business?? I don't predict the future but agree their will be no free lunch, I think(maybe wrongly) that guarunteed stops will be the cheapest way. All the new accounts IG won't get & old smaller accounts who will close & the large drop off in the amount of trades IG will transact will do what - drive up the transactions costs, increased spreads/slippage - exactly what you are saying!?! So costs go up either way, so I believe leverage levels are VERY important and the impact could very well affect you more than you think(or maybe not). I think most know futures markets are what they are, and spreadbettors are what they are. The increased spread is because you don't pay exchange fees/transaction costs, and to give IG their slice of the pie for providing the service. The overleverage part I agree 100% with you, but I am not as convinced that this will be as rosy a picture as you are painting with your other observations. All the best in your trading
  4. Hi, incase you don't know new rules will mean IG will have to increase margin rates - shares have already experienced this and all other products will be affected. I took the time to respond to the ESMA proposals and I think most traders should seriously look into this and put their 2 pence in. Below I have included most of my response and solution to this which I sent to the ESMA. You should have an email from IG CEO titled ESMA, read it carefully and think about how this will affect you: "In my opinion the biggest problem with margin trading is the lack of understanding, and the focus on gains, and not covering risk and what is the downside. This is the same in any form of gambling/trading. I truly enjoy the intellectual challenge of trying to become a consistent trader, starting small and rolling out to larger size as and when appropriate. I think your decision will have a devastating effect on small accounts, who are sensible and not leveraging to the hilt. There are a few high profile cases of people who have only themselves to blame, with small amount to spreadbet companies too. My solution is simple, 100% effective without the need to kill the game to the small players like I think your proposals will do. All spreadbets/trades should have a automatic & free guarunteed stop. This should be without penalty of extra margin or spread. So if you wanted to put £5/point on Euro/Usd, with 15 point guraunteed stop - the absolute maximum a client can lose is £75(also the amount of margin that should be put up too) - this is a feature to help people who can't help themselves, as well as the risk averse like me. There can be no more you can lose more than you have in your account, no more I can't get out of a trade, no more slippage & no more headlines. This is a simple but effective solution, I do understand what you are trying to do but think this is overkill to the extreme. There are things to be worked out, how large a guarunteed stop for daytrades/ swing/longterm. If a client moves the guarunteed stop maybe a pop up explaining the dangers and how it is their responsibility if they do this, or simply ALL stops are guarunteed which would be my choice, and ALL trades must have a stop before being placed. I have thought about this quite a bit since seeing a youtube vid on the effects of your proposals. I hope you see the logic in my simple solution - IG index had this as an option last year but stopped it for some reason. Now a guarunteed stop requires more margin than a non guarunteed stop?????? How is that any help to anyone and encourages riskier trading - I complained about this with others on their forum pages. I hope you can put this to the powers that be - there is no downside if this is enforced for the clients, I think it is a positive for you/IG and the industry as well as me - who will be up at 6.30am to load my charts safe in the knowledge nothing bad can happen today" I sent this this morning and urge all to take 5 minutes to respond in anyway you see fit............
  5. Appreciate your response, the wording does leave it open to interpretation. Disclosing info & mutual benefit are the sort of terms that are so general they could mean anything by law once someone has agreed to it!! I always like having things out in the open, I have no interest in personal phone calls etc best on a forum for all to see. My contact details are pretty clean so I will be able to tell if there are "new" other services touting garbage. There has 100% been a change of strategy from IG - changing certain things guaranteed stop loss/funding/platform etc with no logic but somehow making out they are in our interest which clearly they are not, so this is why it would be no surprise to me if it were to happen. Sad how my viewpoint of IG has changed in a few short months.......................
  6. James from IG yesterday assured me IG were not selling our details - I believe this is untrue and a party line and that they are using clients details for monetary gain. If you look at the terms they: "collect information about your income and wealth including details about your assets and liabilities, account balances, trading statements, tax and financial statements, location and trading performance". Kinda thorough I think we all agree, so what do they have planned for this????? "Who may we disclose personal information to?" "service providers and specialist advisers who have been contacted to provide us with admin, IT, financial, regulatory, compliance, insurance, research and OTHER SERVICES & introducing brokers with whom we have a mutual relationship" So it may be semantics but this looks like business/legal mumbo jumbo if ever I saw it for we are flogging you info. Technicalities can hide many a sin, and to make people sign the disclosure or we will take our ball away really does sum up IG this year. Obviously like the new platform, guaranteed stops, change in funding etc etc IG will carry on regardless of clients wishes & best interests. Really disappointed in the sea change that has happened over the recent months that is so clear to see. Thought I would ask the question & provide evidence that seems to support this.
  7. Not sure how this excellent post is deemed to be solved - just because you respond doesn't mean a thing if you don't hear or listen to your clients.......
  8. Hi cate, you can still use the best classic platform - when you open the dashboard there is a blue tab with open new platform, next to it is a drop down menu with a down arrow - right click on this and you can open prorealtime and the "old" platform. IG are becoming a rather pathetic outfit - hiding the only platform that works and selling our details in their new privacy policy. And if you don't like it they will take their ball away - sums them up this year............................
  9. My last post was deleted by IG for being aggressive! Sorry if I hit a nerve with such sensitive characters. As I pointed out this is what IG are with their new 2017 client friendly and loving strategy. This has been quite a year - a new FABULOUS platform with no issues & everyone loving it, and now change in the way you can fund your account with zero notice(marvelous) and a guaranteed position you have to pay margin more than you risk which is the icing on the cake - Well done IG. You guys ROCK da boat, its like spreadbet heaven all fluffy, great and 100% non-aggressive!!!
  10. Yes I have just seen this disgusting new scenario - I think IG are turning into one of the worst spreadbettors - how can a guaranteed stop require more margin than at risk - this is a truly shocking turn of events and I think someone should explain exactly why - who does it help, I mean this is truly anti client to the extreme - what route are you taking IG - if you want to higher net worth clients become a real broker but you are a taker of bets a bookie, and starting to turn against your client base. I notice in there snidey back hand email they can't offer WHY - funny that. Are IG not trustworthy that they can't commit to actually guarantee a position - I bet its somehow our fault and they are doing it for a higher altruistic purpose. So a new dud platform and a guaranteed position with more margin at risk than should be required - 100% agree Outrageous, weak, snide, disgusting, anti client, man you guys have really set a new low in 2017 - how sad after 10 years!!!
  11. Hi Hannah, thanks for your response - the main issue being this clarity should have come a week before you implemented it???? This change appeared 4-5 hours before you made it which appeared sneaky in my mind. You guys give plenty of notice of margin changes ( a week or so) in the case of brexit/elections etc but not this time? I call it as I see it - I tried the bank transfer and it worked fine and I said so, been happy with IG for 10 years and I said as much, not happy with the new platform and I'm going to keep saying that until I'm happy or leave. Didn't like the short notice - if you emailed what you said a week before it would be reasonable notice even if people don't like it. Also the risk of larger deposits is perhaps people will trade larger size instead of understanding risk/margin ,as they see more in their account to trade with possibly negating your altruistic main reason????
  12. Hey thesarayiahpost HSBC, the details are logged with them now but it depends on whether it is automatic at IG's end, or manual? Don't know this maybe a moderator can let us know. I didn't like the way they went about it all last minute and sneaky, but this worked for me. If this changes I will update but until then its a solution and only took a few mins. Good luck
  13. I doff my cap, my spread bet account is credited already with the £100 so maybe worth doing it this way if you don't want to send £250. Follow the instructions for the right acc spreadbet/cfd put your ig acc no. & name. Can't fault this!!
  14. As the new acc mins don't apply to bank transfers I have just sent £100, so will let everyone know how long it takes to be credited!!
  15. Think it should be up to the client but it seems IG are not too interested in that as can be seen from their new platform roll out, but I thought the last minute rushed way they went about letting clients know seems to sum up them up recently! With brexit/Trump/election everyone gets a few days/week notice of changes, but 150% increase in min deposit a few hours - poor form IG.