Molibar
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Posts posted by Molibar
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15 hours ago, Guest pdast said:
How are you getting on with CoreSpreads?
CoreSpreads are dirt cheap. I've moved back to IG now though, since they lowered their DAX and YM spreads to more sensible levels. The DAX spreads are still lower at CS, and same thing with the YM spreads. On CS they are both fixed to 1 point.
As I said previously, the platform is quite horrible to trade with compared to ProRealTime, and the drawing tools are even worse, so it feels ok to pay a little bit extra in spreads for ProRealTime, but not the previous 8-12 times as much as it was a month ago. I'm still hoping that IG will honour their marketing material promise and return to the spreads they brag about.
Regards,
Molibar -
19 minutes ago, Caseynotes said:
the US regulator (SEC) has placed a very hefty minimum account size for retail clients trading in the US, I can't remember exactly but $24,000 comes to mind.
I think you are talking about the pattern daytrading limitations, that only applies to US traders. The margin requirements has been higher lately, but that's a discussion to be had with AMP.
Regards,
Molibar -
17 hours ago, AndrewS said:
I will probably check out the E-minis.
https://portal.ampclearing.com/account/commissionquote.aspx
https://www.ampglobal.com/trading/metatrader5.html
I would suggest you sign up for an US AMP account instead of a Europe one instead. If you want to use a separate trading platform, for instance like Sierra Chart, you can then get the CME data for free, or discounted via your broker. As a European trader it costs a lot if you don't get it through your broker. With this setup you get access to crude and gold futures data too.
Regards,
Molibar -
3 hours ago, Caseynotes said:
Spreads are handed down from the liquidity provider to IG who hand over to you (with their slice on top). Trading Dax for years daily I don't remember the spread ever being more than 1 point during normal trading hours up until the virus crisis of the last 2 weeks, so the current increased spreads is extraordinary.
IG use a variable spread model which means they pass any increase from the liquidity provider on to you. Normally increased spreads from the liquidity provider last just minutes or an hour or 2 but this crisis with it's highly volatility has been going on for 2 weeks. A broker that has fixed spreads is swallowing that loss but for how long can they keep doing that and still remain solvent?
Good luck with the demo platform, unfortunately demo doesn't replicate live very well during volatile markets for example they don't replicate slippage and requotes.
Slippage is given on CoreSpread's demo platform, and they are following FCA's rules, so the money is protected just as on the IG platform. Haven't got trades rejected though, so I don't know how requoting will affect me. I guess it's not more common there than on IG's platform though. Given how rare it is when live trading I don't think it will affect my demo trading much.
Thanks for the explanation of how IG sets their spreads, makes me less upset with them.
Regards,
Molibar -
4 hours ago, dan-is-dead said:
I would humbly suggest ig were caught out by the bear market.....and have no choice but to increase spreads to get some dosh back....i guess its their business and if we dont like it...foot with your feet.....thats try some other broker! I am looking....
CoreSpreads trading interface is horrible, but I've opened up an account and have been demo trading today. It took me less than an hour to get into their order flow, which is really simple, which for me means absolute garbage. With IG's offer on ProRealTime you get a really good trading platform with a lot of power. I've been using Sierra Charts for futures trading, and that blows everything else straight out of the water. The types of orders you can put on is mind blowing.
I totally disagree with what you and BigDeal is saying about understanding IG when it comes to their insane spreads. Their marketing material is lying, you don't get even close to the spreads they boast about. They have been willingly taking the majority of their clients money since they started, and now when volatility comes in they decide they want a bigger piece of the pie. Unacceptable.. Their increased risk, if they were actually hedging their clients trades, would be zero, and with the increased trading they should even be able to tighten the spreads.
Tomorrow I will continue demo trading, and on Monday I will probably vote my way out of IG with my feet.. ..if I can get over CoreSpread's impotent trading interface:)..
Regards,
Molibar-
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On 31/03/2020 at 09:24, Guest glunter said:
Open an account with corespreads.
Dax 1 point spread
CAC 0.7 point spread
On 22/03/2020 at 07:52, Caseynotes said:If your target is just 20 points then a 7 point spread rather than the normal 1 point is significant but the other factor is the reason for the increased spread and that is increased volatility which means any move is more likely to run further than during times of normal volatility so an increased target should be considered.
Wow Guest, you're right, just checked out their real-time spreads, and they have tight spreads.. ..well, the same spreads as IG used to have. Now IG is 4-10 times more expensive on DAX, depending on what day you compare with.
I'm going to create an account on Core Spreads now, and see how long it will take before I can move over there. I like IG's free ProRealTime platform, but I can move over to MT4 if push comes to shove!
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Caseynotes - Yes, I could trade the monthly time frame too, but I'd rather do that on Core Spreads with a 5th the spread:).. I think IG just lost me as a client.Regards,
Molibar-
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7 minutes ago, dmedin said:
lol totally disagree, but sorry to hear that you can't scalp on 1 minute chart as effectively any more.
What time frames do you trade on?
Regards,
Molibar -
On 18/03/2020 at 11:31, dmedin said:
Small price to pay for getting in on a market that's moving in only one direction
That's not really true, it's quite choppy now. Smaller time frames are terrible to trade with 6 points on the DAX. But glad that it's working out for you.
Regards,
Molibar -
The new increased spreads have taken trading out of spread betting, now it's only betting. Virtually impossible to day trade. Examples during normal trading hours; DAX (DY) has 6-7 points, Wall Street (YM) has 12 points. This has been the case the last week, and when contacting IG for clarification and further information the person in the call centre didn't see why those spreads are unacceptable. My friends who are trading futures contracts are just laughing at me..
This is copied from their online spread information, and doesn't even vaguely correspond to the actual spreads.
https://www.ig.com/ie/markets/indices/indices-spread-bet-product-details
Anyone heard anything from IG on this? Anyone noticing this, or is it just me?
Regards,
Molibar-
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4 hours ago, dmedin said:
Apropos of Trump making the Chinese 'play by the rules' ROFL, here is Sh!t for brains trampling over the Fed's supposed neutrality yet again.
If the Donald wasn't a billionaire he wouldn't get away with any of this.
https://uk.finance.yahoo.com/news/trump-calls-zero-negative-interest-105815945.html
Yes, lower the interest rates below zero, and refinance loans. That man makes me laugh.. ..out loud sometimes. The bank refused me when I asked for that deal.
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Hey dmedin, sounds like you're in a rough patch. Take it easy for a couple of days, go back to demo, and try to find your own trading strategy. Don't listen so much to experts, and find something that works for you by cherry picking things from others. If this was easy everyone would be doing it. It takes 3-5 years to become consistently profitable for most retail traders.. ..something experts tend to forget to tell you. But you're right, at that time one is a "professional" and has the right to sit at the big boys table.
Don't feel bad about not hacking this **** at this moment, if you keep on doing it you will become good at it.
Take care!
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Increased spreads
in Indices and Macro Events
Posted
I'm live on both, and CS has consistently lower spreads for spread betting.
DAX 1 vs 1.2
FTSE 0.4 vs 1
Dow 2 vs 3.6 (DOW is closed at the moment, during opening hours both are cheaper, but CS still wins)
Regards,
Molibar