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LeoTrader

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Posts posted by LeoTrader

  1. Okay, not a major outage but trading was still disrupted for many clients that day, enough for IG to recognise the issues and reflect it on the service status page. The platforms were accessible but very glitchy, failing to process client orders and display charts correctly. Not being able to close a profitable trade to then see it turn deep into loss would still be considered pretty major by those affected. 

    • Like 1
  2. 26 minutes ago, dmedin said:

    You already forgot the outage when the markets tanked in March?

     

    23 minutes ago, Caseynotes said:

    there was no specific IG system outage then but just market gaps due to excessive volatility and no liquidity as were experienced by every market participant.

     

    10 minutes ago, andysinclair said:

    There was a major outage on February 24th, not sure about March although I do remember there being at least two fairly close together.

     

    There was an outage in March: 

     

    • Like 1
  3. I wonder how their UK offering will compare to all the other commission-free UK brokers (I can think of four off the top of my head). Free of fees or not, if your share dealing account isn't in a tax wrapper like an ISA or SIPP then you'll still be liable to pay dividend and capital gains tax on your profits. Of course, Robinhood aren't tax advisers so they don't have to tell clients this. 

    Even though they're late to the UK market, they'll probably steam ahead like they did in the US. It will be interesting to see how/if established brokers respond to the extra competition. 

    • Like 1
  4. On 27/11/2019 at 08:33, CharlotteIG said:

    Because we are hedging trades we have to sometimes ask client, who are trading large sizes, to use advanced orders or call us to hedge their positions directly with us. 

    Hi @CharlotteIG

    Out of interest, what would constitute 'large size' on a market with deep liquidity like the FX majors? 

    By advanced orders, do you mean accepting partial fills and/or using market orders over the default 'current price or better'?

  5. Not just me then. 

    @Bambam, I haven't contacted IG about it as it doesn't prevent me from trading and I doubt anything would be done about it in the short term. I just wondered if other platform users were also affected. Also, IG staff read the forums so will know the issue exists. 

    @ChrisN, I think it is a bug. I hope so, anyway. It's a rubbish feature update if not!

    @RedEyedJoe, I did find them useful so the sooner they're back the better but it's no biggie. 

  6. It's definitely on. I have the feed displayed with the 'All' tab selected to display both tweets and notifications. I can see lots of tweets but no dealing notifications. They don't show on the 'Notifications' tab either. 

    Dealing notifications are switched on in the account settings and I'm still receiving push notifications to my phone. 

  7. 18 minutes ago, BigDeal said:

    Yes, in theory your point is correct but in reality the SB company only needs to go the market if there is a mismatch - and in truth I would suggest there often isn't - eg you (and hundreds of other traders) are long, I (and hundreds of other traders) are short on the same market, and when these match, the SB can make profit on the full spread of everyone and doesn't need to hedge anyway. If they traded in the main market, the trade they place would therefore be inconsequential in the grand scheme of things, and if they couldn't hedge for some reason they would not allow you to place your bet.

    All these replies only showed after I just posted. What @BigDeal said!

  8. 46 minutes ago, DSchenk said:

    So, if retail traders trade primarily (90%) against their brokers, then they can't even influence the market price of an instrument? Is this what you are saying?
    So Anton Kreil's statement that retail traders provide volume for institutional traders to get out of their trades is completely BS?

    Exactly. I recall an explanation from IG on how they operate; whereby long positions are matched with clients' short positions, thereby 'hedging' internally without needing to go to the underlying. When clients' positions in aggregate are mismatched by a certain threshold, it exposes them to risk, which they then hedge in the underlying market to cover their own risk. I doubt that happens every day though. 

    1 hour ago, DSchenk said:

    If I had let's say £1,000,000 in my spread bet account...

    Stop right there. If you had £1,000,000 in your account you'd be on the B list, so definitely hedged! xD

    • Like 1
  9. I'm a little confused by your reasoning on the count of the contradictory statements in your post. 

    On 22/09/2019 at 11:39, DSchenk said:

    90% of retail traders lose money, so easy money to bet against them. They say brokers usually rate their clients into two buckets (with an algorithm), where 90% are in bucket A, where trades are un-hedged and the broker takes the other side of the trade.

    With the above being the case, by what mechanism does the following scenario work?

    On 22/09/2019 at 11:39, DSchenk said:

    Once an organisation is found who is willing to do the attack on the oil facilities, the professional traders take their positions, long Crude Oil. Now they just need to wait until the attack happens. News are being released. Retail traders around the world jump on the news. Oil price spikes up. Professional Traders use the volume provided by retail traders to get out of their positions. Job done.

    If the counterparty of retail traders is their broker then their trades are settled in a pool not connected (and of no influence) to the underlying market. So how then, do retail traders drive the price of oil up and provide volume to professional traders?

  10. I completed the Investment Trends annual Investment and Trading Survey through the link in IG's invitation email before the 19th May deadline, but I haven't received an email about my chosen rewards for doing so, nor a confirmation email following my submission. This was a few weeks ago now. The email said everyone's a winner. I don't feel like a winner. I spoke so highly of IG as well! 

    Rewards included:

    Quote

     

    Everyone’s a winner

    In appreciation for your time, everyone who takes part can choose to receive two free tickets to either the London Investor Show on 25 October 2019, or the London Trader Show on 28 February 2020. Tickets are valued at £50 for the pair.

    In addition, you can choose an exclusive MoneyWeek offer. Get two months free of Britain's best-selling financial magazine, valued at £34.

    On top of that, you can participate in a draw to win a £2,000 travel voucher from Flight Centre. Two runners-up will each receive a £500 John Lewis gift voucher.

     

    Has anyone else who took part heard anything back? 

  11. All of the options available on the old platform are available through the new platform by clicking on Options (the one above Knock-Outs), although they are presented very differently. I think (not 100%) you can only access the old platform if you were a client before the new one superseded it; newer clients won't have that option to launch it, @Caseynotes.

  12. 21 hours ago, TrendFollower said:

    They identify reasons using technical analysis, charts, arrows and everything under the sun as to why not to enter a long trade but they do not seem to discuss shorting that very trade.

    Very true. There's definitely a long bias amongst traders, collectively speaking. Even when an uptrend has technically reversed, many will refuse to go short but won't hesitate to go long at the mere hint of a new uptrend. The bears capitalise on this during a long squeeze and that's when we see markets unwind so rapidly. Those big red candles, that's bulls' blood! 

  13. Regarding overnight funding charges, there are two sides to the coin. A few weeks ago I had DFB positions on Silver and EUR/USD which both ran for weeks. Because I was short, I received the daily funding as a credit to my account each night. If I had been long then I would've been debited, but then I wouldn't have traded the spot price for positions open that long. Of course, not all markets pay out a funding credit for trading in a particular direction, so it's important to check the rates first. Exploiting this to your advantage is something all traders should consider when planning to hold a trade overnight, just as @TrendFollower says:

    3 hours ago, TrendFollower said:

    Traders need to be ruthless and look at the rules and build this into their trading strategy.

     

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