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Mcg last won the day on April 6

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About Mcg

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  1. 🤦🏼‍♂️ This is what I mean. It’s not spreading your risk at all, you clearly don’t understand. You have 5 times as much risk as you would have with an unleveraged portfolio. The volatility on that is going to be very high, plus you’re holding overnight and exposed to gaps and abrupt moves on earnings and other newsflow. Using the word ‘fundamentals’ to describe your risk management strategy is another red flag tbh. That’s not a sell rule to protect capital. It’s basically you saying ‘right I’ve done my analysis and the share is worth X, but the market says it’s worth Y. The m
  2. No they aren’t obliged.. they just have to give you notice of their intentions which they did. You should get a lawyer to go over the small print with you. If anything what IG are guilty of is not doing their due diligence on potential clients because they seem to have a lot of clients who think in this way. As I said, there should be some sort of training course covering all of these things off before people are allowed to open an account.
  3. Tbh my view on it is that people like you need to do some sort of financial awareness course before opening an account because you don’t understand the system. I couldn’t care less how much you’ve made because you’ve already demonstrated that you’ll be giving it all back and more, so it’s kind of irrelevant. It’s not exactly been difficult over the last year to HODL and make money.. US markets up 80%, a record year on year return. There are a lot of clowns who have made money and now they think they’re the next Warren Buffet. I’ve explained in detail already how leveraged trading wor
  4. You’re just HODLing and hoping for the best though.. it’s not a winning strategy because you have no risk management or exit plan for your trades.
  5. Hi, it’s relatively simple to work out. You need to look at the KID document for the instrument you’re trading.. think it’s on the platform when you click on the ticker and then under market info, at the top. They work it out based at 10pm everyday and it’s based on the notional exposure. So whether you’re in profit or at a loss is irrelevant.. it would just be based on £10 x 1720 = £17200 notional. You get charged LIBOR plus a margin (usually about 2-3% per annum) and it depends on what the instrument is as to what the reference interest rate is. Tbh you could go to the effort
  6. It’s not the best.. I’ve had an account with them 10 years and it used to be a lot better. There’s two things going on.. first one is that there’s limited staff in the office with the pandemic and whatever system they have in place for dealing with it isn’t adequate. Second one is that there’s been a massive increase in the number of clients taken on with the retail trading frenzy. And these people drain time because they ask lots of daft questions, so when you have something administrative like this that you need sorting you can’t get through. Hopefully it all irons itself out once thing
  7. I know you aren’t profitable just from the information you’ve posted on here, it’s obvious. Victims?! No successful trader ever had a victim mentality. They react to changing markets and conditions, something which you’re unable to do because you’ve overleveraged on illiquid crappy small caps and now your broker is pulling the plug on them. You should just cash out and take the money out before you lose anymore as you won’t make money with your attitude
  8. I’ve no idea lol but I can see from this forum why there are 75% of clients losing money.. I’ve already explained to you why they haven’t screwed you but the mechanics of financial markets seems to be over your head. I wouldn’t give up the day job that funds your gambling habit if I was you lol
  9. Couldn’t care less about your trading strategy and no I don’t work for IG. Just been pointing out the nonsense that some people post on here.. because you just want to blame a broker rather than take responsibility for your own junk trades
  10. What are you bumbling on about? This has nothing to do with killing cats or whatever 😂. I explained pretty clearly why a broker might choose to do what they’ve done. At the end of the day if you trade on margin then it’s up to the broker to decide which shares to offer. It’s just part of the game. It’s not like they chop and change which shares they offer on spreadbetting, it’s a conscious business decision to withdraw from certain markets. Just either trade something less risky or buy stocks without relying on broker margin. IG are the largest spread betting provider in the UK so if they
  11. All of these posts just show that there are people who have got involved with trading who just don’t understand the financial system or how spread betting actually works. All the complaints to the FCA will do is increase the likelihood that leveraged trading gets banned for retail traders because they will conclude that too many retail traders don’t understand the risks they’re taking. Which would be a shame for the rest of us When you place a spread bet with IG or any other broker you’re using leverage and they extend you margin. On the indices it’s 20:1 and on individual stocks it’s 5:1
  12. This 100%. Wasting your time explaining this though because these people have no interest in modifying what they do to protect their capital better
  13. Nope.. I just understand how it works and what the risks are. Most of the people on here complaining have massive holes in their trading strategies and just want to blame the broker rather than fixing their problems. It’s sad but most won’t make money until they change their approach.. there are people on here complaining about fraud, writing to the police/treasury/prime minister/tooth fairy lol. If they spent half as much time on managing downside risk or at least learning about it as they do moaning and blaming other people for their losses then they might actually make some money and k
  14. They aren’t screwing their clients though because it’s transparent and they don’t have to make a market for you on things where there’s little liquidity. It’s not like they’ve randomly closed you out, you were warned it was coming ages ago. You guys are just salty because you’ve allowed trades to move significantly against you because your risk management is off and now you don’t want to exit the trades and take the loss. Most good traders have no difficulty flattening their book and going again as from time to time things like this can happen, but there’s a lack of adaptability here. And
  15. But they told you they were going to do it weeks ago so gave you plenty of time to make alternative arrangements. I don’t know any profitable traders who hold on to spreadbets for months, it’s such a bad idea and is one of the reasons why over 75% are losing money hand over fist
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