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traderx

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  1. Yes. IG does trade against retail traders. IG also has a lot of institutional traders. If your are trading low volume stock or Singapore CFD equities, the dealing desk will manually lock your order for a good 30 seconds so that you cannot delete nor change the order price level for the 30 seconds when they there is another bigger clients want to unload. I have been locked this way as many ast 4 times in the past and cost over SG$10,000 loss. When I called IG, it said the dealing desk manually lock my orders with an excuse they are putting my order on hold so that they hedge it on the Exchange. In the first place I trade CFD and CFD is internal market within IG environment and our trade does not affect the market. It is highly irresponsible to lock our order. My complaints to IG for compensation via calls and emails all went without any positive response and the replies from them are as stated above. CFD market is internal market and our order should not be touched by dealing desk at all time even if there is no liquidity to fill our order then our order should just be left unfilled. At no time our order should never be locked by Dealing desk. To me this is day light robbery. Secondly, IG has deployed internal algorithm to hunt your hard stop losses and also filled in your limit order with a spike to the dot before immediately move in the opposite direction big time. Thirdly, some time IG platform will freeze and unable to re-login back when you are in a trade. This made it extremely dangerous when we cannot see the price action on the chart. This had happened to me a few times. Fourthly, nowadays even if your platform freeze or has other problem on your trade, call to their dealing desk during US market opens 100% of the time no support or dealing desk will pick your calls. My phone was kept ringing for 30mins or more and many different days. This is again does not speak well of the kind of support IG gave clients. The only attraction I use IG is the ease of use of their trading platform. These kind of underhand tactics above are played out in IG on daily basis which made our day trading very difficult to win. It is very visible if your trade the small time frame how IG's manipulations are done. The above comes from someone who trade daily with IG for the past 3 years. I am even considering to stop trading through IG because of the above under hand tactics. Sometimes
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