I've been using the IG platform since the begining of the year. This is the first time I'm seeing such a huge spread for Facebook, but possibly for any other instrument.
See attached screenshot from this morning. Can someone from IG please provide some explanation on what I'm seeing?
I'm always concerned about the wild swings in the spreads, because it adds an unresonable factor of risk in our trading, especially if you use orders for entry points.
Say I set up an order to place a £1 bet at 20998. If the order is fulfilled and the spread is 5000 points then I've technically just lost £5000 which of course would trigger my stop loss and the position would be closed, leaving me with quite a hole in the pocket.
Has anyone else come across this before?