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Ig market ratings

  • #1
  • First Post: Edited 10:26pm Apr 19, 2009 10:15am | Edited 10:26pm
i'm looking for a good forex broker in US, could anyone that trades live or has traded live with Ig markets give their opinions about this broker.

1) Order executions
2) Fees
3) Stop hunting
4) Platform freezing or not
5) Not executing your take profit orders
6) Fund withdrawls
7) Requotes
8) customer service
9) not executing your stop loss order and you gettting penalized later on.


Does anyone know how many clients and client deposited funds ig markets has for forex? how many internbanks they're connected to? and do u get better fills from a market maker if they have more deposited funds from their clients or is it volume? what causes spreads to widen for some brokers?

U don't have to give your opinion on all the subject above but just the ones u know about or experienced. I'd like to know all pros and cons of this broker. thanks
  • #2
  • Apr 19, 2009 11:36am Apr 19, 2009 11:36am
Quoting jamesbond
could anyone that trades live or has traded live with Ig markets give their opinions about this broker.

1) Order executions...
1) Order executions - very good
2) Fees - good
3) Stop hunting - you could say this about any broker thats the market
4) Platform freezing or not - never
5) Not able to take limit and coming back to hit stop - not sure
6) Fund withdrawls - very good
7) Requotes - nope
8) customer service - very good




All round very good lol
  • #3
  • Apr 19, 2009 12:10pm Apr 19, 2009 12:10pm
1) Order executions : instant
2) Fees
3) Stop hunting : didnt notice
4) Platform freezing or not : sometimes . u need good pc and fast internet
5) Not able to take limit and coming back to hit stop : explain ?
6) Fund withdrawls : by credit card 3 days ,also moneybookers . bank wire around 15 pound fee .
7) Requotes : if price changed and gone in your direction in a second then u will be rejected , and if the price changed and gone against u , u will get filled at the new improved price and this is a really good thing .

i want to add that they have direct access software called L2dealer u can trade stocks L2 and futures contracts directly . Also spot forex with tier 1 banks but u need a huge deposit for that one ( banks spot fx ).
  • #4
  • Apr 19, 2009 1:09pm Apr 19, 2009 1:09pm
Quoting tar
1) Order executions : instant
2) Fees
3) Stop hunting : didnt notice
4) Platform freezing or not : sometimes . u need good pc and fast internet
5) Not able to take limit and coming back to hit stop : explain ?
6) Fund withdrawls : by credit card 3 days ,also moneybookers . bank wire around 15 pound fee .
7) Requotes : if price changed and gone in your direction in a second then u will be rejected , and if the price changed and gone against u , u will get filled at the new improved price and this is a really good thing .

i want to add that they...
What I meant by 5) not able to take limit..., etc. i heard on other forums that even when price go up to where u placed a limit to take profit, it didn't close out the trade, and then when prices came all the way down to your stop u got stopped out.

I wanted to know if prices reached your stops and didn't get stopped out and as prices went against u got penalized for it. do u use guaranteed stops? do u need to use is it just another way for them to make money off u?

do u use L2dealer? if u do how much do u have to deposit?

do u trade forex?
  • #5
  • Apr 19, 2009 1:11pm Apr 19, 2009 1:11pm
Quoting cohiba pips
1) Order executions - very good
2) Fees - good
3) Stop hunting - you could say this about any broker thats the market
4) Platform freezing or not - never
5) Not able to take limit and coming back to hit stop - not sure
6) Fund withdrawls - very good
7) Requotes - nope
8) customer service - very good




All round very good lol
R u talking about forex or futures or both? what cons if any do u see about this firm?
  • #6
  • Apr 19, 2009 1:43pm Apr 19, 2009 1:43pm
Quoting jamesbond
What I meant by 5) not able to take limit..., etc. i heard on other forums that even when price go up to where u placed a limit to take profit, it didn't close out the trade, and then when prices came all the way down to your stop u got stopped out.

I wanted to know if prices reached your stops and didn't get stopped out and as prices went against u got penalized for it. do u use guaranteed stops? do u need to use is it just another way for them to make money off u?

do u use L2dealer? if u do how much do u have to deposit?

do u trade forex?...
IG hounor your limit and stops , they r good at this , u dont need G stops but if u trade stocks and u r afraid from a big gap in prices , or if u want to hold crude oil or any other volitale security over the weekend , G stops will be a good option .

I opened Ig markets account and then i requested acess to their L2 dealer but i didnt use L2 for trading untill now . I guess recently they started to require 1000 pound to access L2 for stocks but i am not sure .

i want to add here :

if u want to use L2 data for stocks u will pay monthly fees depends on which stocks ( uk , Aus ... ) u want to trade .
But u will pay nothing for futures L2 data ! u only need an account with them .
For spot fx tier 1 banks L2 trading i guess they requre big deposit .

tell me what u want to trade and i will give u more details ...
  • #7
  • Apr 19, 2009 1:59pm Apr 19, 2009 1:59pm
Quoting tar
IG hounor your limit and stops , they r good at this , u dont need G stops but if u trade stocks and u r afraid from a big gap in prices , or if u want to hold crude oil or any other volitale security over the weekend , G stops will be a good option .

I opened Ig markets account and then i requested acess to their L2 dealer but i didnt use L2 for trading untill now . I guess recently they started to require 1000 pound to access L2 for stocks but i am not sure .

i want to add here :

if u want to use L2 data for stocks u will pay monthly fees...
I trade forex in the US. could u give me more details on this firm as far as how many clients and client deposited funds they have for forex? Do u get better prices from a market maker if they have more client deposited funds? . They say they are connected to 14 interbank which is more than FXCM i believe. is this true? I look forward to your reply.james
  • #8
  • Apr 19, 2009 2:14pm Apr 19, 2009 2:14pm
Quoting jamesbond
I trade forex in the US. could u give me more details on this firm as far as how many clients and client deposited funds they have for forex? Do u get better prices from a market maker if they have more client deposited funds? . They say they are connected to 14 interbank which is more than FXCM i believe. is this true? I look forward to your reply.james
u cannot compare IG with FXCM , IG make 100 million $ net profit anually , FXCM has 100 m $ total capital only .
IG is a FTSE250 company .
http://www.iggroup.com/corporate/abo...roup.html?ct=n

Anyway u can trade mini lots and standard lots via their website , but if u want to deposit 50 k $ then u can go via their L2 dealer they will give u direct access to tier 1 banks and they will gain commission from u only . http://www.igmarkets.com/fx/forex-direct.html

another thing to mention if u trade via their website here is their spreads policy :

http://www.igindex.co.uk/content/sit...x-changes.html
  • #9
  • Apr 20, 2009 5:09am Apr 20, 2009 5:09am
1) Order executions - very fast, one click
2) Fees - none (spreadbetting account)
3) Stop hunting -none
4) Platform freezing or not -extremely uncommon
5) Not executing your take profit orders - has to go THROUGH your limit, not just touch it to be filled
6) Fund withdrawls - debit/credit card 3 days, bank transfer 3 days, same day bank transfer £15
7) Requotes - not common. can get requoted in your favour
8) customer service - very good response time, email and phone
9) not executing your stop loss order and you gettting penalized later on. - ???? if you trade on a misprice or spike, they will corect your account
  • #10
  • Apr 20, 2009 5:10pm Apr 20, 2009 5:10pm
IG are absolute bastards sometimes in the way they manipulate their spreads. I love the interface though... can't answer your other questions because I am on the spreadbet platform, IG Index.

I think there's probably better brokers out there.
  • #11
  • Last Post: Apr 20, 2009 5:12pm Apr 20, 2009 5:12pm
Quoting tar
another thing to mention if u trade via their website here is their spreads policy :

http://www.igindex.co.uk/content/sit...x-changes.html
Haha. It varies a lot more than the word 'typical' would suggest. I can't recall ever seeing it at 2 for GBP USD either.
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