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Igmarkets.com Review

Overall Rating: (1.884)
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Total Reviews: 98
Last Updated: 2015-05-10
Special Notes:

Other websites of this company: IGFOREX.COM

 

2011-05-15 NOTE:  The FPA has heard from a couple of sources that IG is ceasing its operations in the USA.

Click here to join live discussion of Igmarkets.com on our forum
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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-02-11
Review: We do not have any experience with this broker. If you have used them, please kindly submit your review above.

retribution, Sydney, Australia

Rating:
Date of Post:2015-05-10
Review: Latest updates on Ig, Ig group, Ig Index, former Ig Markets. A lot has come out in the media over the recent decision by ,the Swiss National Bank on January 15, 2015 to remove it's cap on its exchange rate. When the cap was unexpectedly removed, the franc appreciated by 30 per cent in an instant against the euro. IG did nothing for over 10 minutes and stopped all accounts from trading, and failed to fill there stop-loss orders and may have even adjusted trades many hours later . And gave the worst fill possible to all clients. I think these links are very important as they tell the story that the worlds media is finally starting to catch on to these alleged "Bucket shops" CFD Providers. They use there false and misleading advertisements to fool people and pretend the Over the counter products to be something they are not (Shares listed on stock Markets). They are guilty in my opinion, but now read these links and I will let you be your own judge. https://www.youtube.com/watch?v=VAVPQEASnkA&app=desktop Hitler used IG Index for his Euro/CHF Stop loss . https://www.youtube.com/watch?v=X3pcYcSawws&feature=youtu.be IG Markets CEO Tim Howkins who lies that their clients are making money on live TV Squawkbox CNBC! .http://uk.reuters.com/article/2015/03/05/markets-franc-ig-idUKL5N0W63U120150305 (Ig got it wrong read comments). http://www.reuters.com/article/2015/03/17/iggroup-forex-idUSL6N0WJ2KZ20150317(17.3.2015 IG being investigated by FCA and ombudsman). http://moneyweek.com/ig-index-50-percent-profit-margins/ IG profit from customers up to 65%. http://www.abc.net.au/news/2015-02-12/foreign-exchange-traders-fight-to-save-millions/6087976 IG Markets named here in Australia. http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/17940-ig-index-fraud-failing-disclose-information-spread-betting-company.html (90% Cfd traders loose money). http://hotcopper.com.au/threads/how-to-play-and-win-against-ig-ig-markets.2398483/page-12?post_id=15114784#.VU2pqY6qqkp (Australia's biggest online forum about IG Markets). http://www.forexfactory.com/showthread.php?p=8047127 (Many brokers forgave accounts in minus but not IG). http://www.forexfactory.com/showthread.php?t=522242&page=34 ( IG gave the worst fill in the world against the swiss/euro 0.9250 to it's customers . http://www.iggroup.com/corporate/fair-client-treatment.html

Join the fight like me sign up to these two petitions against IG links: https://www.change.org/p/tracey-mcdermott-uk-financial-conduct-authority-we-urge-the-fca-to-investigate-the-misleading-advertising-and-unfair-business-practices-of-spread-betting-companies . https://secure.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?nLPupib

Media links about the mistreatment from IG Group over the Swiss cap removal.
http://www.independent.co.uk/news/business/analysis-and-features/how-could-a-teacher-on-18000pa-lose-280000-spread-betting-10115157.html . http://www.fxweek.com/fx-week/news/2400581/ig-under-fire-from-clients-with-huge-negative-balances (Note fxweek reporter quote: Call the Dealer if you have any problems). http://www.reuters.com/article/2015/01/29/retail-forex-ig-idUSL6N0V74D720150129 (German engineer with debt of 280,000 euros after betting just 8,300 on the euro against the Swiss franc). http://uk.reuters.com/article/2015/03/05/markets-franc-ig-idUKL5N0W63U120150305
Retribution hates IG Markets as they cheated me out of a lot of money and in my opinion they are a "Bucket Shop". They as in all CFD, Spread-betters OTC products need to be stopped to all retail investors. I hope this information will be useful to you. Thank you to this forum. Good luck: [email protected]

2013-09-27 1 Star IG Markets (IG Group) have just changed there name to "IG.com". They are are a professional legal scam They are the most dispicable company on the planet, also there employee's obviously have no soul's. I have traded CFD on and off over many years since 2005 to 2011. The previous reviewers Damien, Duff Cooper had some very smart Idea's to quote the legalese. He was right because there is a brand new "product disclosure document" and it's all been changed again. WOW Ohh My God!, thats three times in like 6 monthes, somebody must have hit a nerve! So now I will now quote on what page's you must read. Starting with:Page 21 8. Electronic Transactions,paragraph 2 "We have no obligation to accept or to excute or Cancel". Also (Point(4)You acknowledge we have the right unilaterally and with immediate effect, to suspend or terminate at anytime, with or without cause or pior notice. All or any part of our electronic service. Page 19 4 Providing a quote, Paragraph4: At our discrection, treat such a transaction as void. Also of the utmost importance read these pages and paragraph's, Page 4 (3.11), P5 (3.11), P9 (4.1 Margin & Margin Call Practices), P18 (2The Services we will provide(.3,4,5,8,10), P19 3 Conflict is Interest(1,2,2a,2b,3,4,5.), P22 Agents(9.1 ) 10 Manifest Error(1,2,3),11 Orders, (1, 2 4th Paragraph) P23 (11 Orders, Point 4. B, C, F,G,H. Point 8 also 13. Communications (1). Page 24 13. Commucications (2),3,4,Point 13 and 14.. Thes CFD providers or really "Bucket shops" were banned in America after the 1930s stock market crash. So Why is the Australian Securities and Investments Commission protecting Cfd providers. Well my answer is the boss Chairman Greg Medcraft, who was in the past a former Investment banker. Is there loyal PROTECTOR. I feel in my opinion they ASIC are traitors and betraying all Australian investors. You must take screenshots, video's and record all conversations and do not let anything go at all cost. And never ever use there internal email(page23, *13) it is what they used to scam me. I am will to pay any IG.com employee $10,000 Australian dollars who does have a soul and thats wilingl to do the right thing!. To give me a copy from there Puredeal internal email system of the Email that I sent on 8th June 2011 at approximately 2am Sydney time. The email noted that there dealer refused my orders to sell, and had locked my platform KA018. Thank you to this forum for standing up for whats right.
Contact me:retribution2u@gmail

Anwaar , Melbourne, Australia

Rating:
Date of Post:2015-04-03
Review: I have been trading for more than a year with IG markets.No doubt they are very quick when it comes to deposit and withdraw money as compared with others and low spread as well.

But Now I caught them by ripping me off.Before this I was losing money as I was not experienced trader so when I started to make some money ,now what they do with me is they do not trigger my buy stop and sell stop orders but they execute orders that I never place.They did twice with me; first time i thought i might be wrong but second time I caught them with red handed and I can show my transaction history to those who do not believe me.They do it on the release of news especially on Non-farm Payroll.
I wish there could be no star for this bloody Thug company.
Please stay away from them.

Yadi, Sydney, Australia

Rating: No Rating
Date of Post:2015-03-27
Review: They are market maker, by definition, they make price and offer to you. I worked in IT industry before, if you think they have people and software specifically targeted on yourself. I would say it is impossible. They are the largest CFD provider and they have thousands of accounts. It would be impossible to find someone to do the job. Also, it would be too costly to develop a software to target on your position except you are a gigantic client. What I can think of is they can see everybody's stop and limit. For example, if EURUSD is trading at 1.2050, and say 50% of clients place stop order around 1.20 zone. They could make price spike up or down to get you out. It is theoretically easy to do.

2015-03-02 4Star Honestly, I ve heard this broker is doing stop loss hunting, but I ve never had any of those. I made money with them. The best thing about them is they take deposit and withdrawal very quickly. I ve done quite a few withdrawals with them, the longest time I wait is 2 business days. The most efficient in australia, I reckon. I ll rate them 4 stars, 1 star short is because their charting software is not free of charge. though rebatable if you place more than 4 trades a month.

Ben, , Singapore

Rating:
Date of Post:2015-03-06
Review: After monitoring for 01mth, I guarantee this broker freezes the platform upon news releases. Stay out from this broker if you don't want to go back empty handed

HJ, UK, United Kingdom

Rating:
Date of Post:2015-02-17
Review: IG have stopped my EURCHF of 15th Jan 2015 trades over 1000 pips below other brokers and left me with a negative balance. I had no idea that you could have a negative balance and be liable for unlimited funds depending on what price they give to you for their horrendous slippage. Other brokers have forgiven negative balances and they don't claim to be worlds best as IG did. careful with these guys, in times of volatility you will owe them your house!!
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Kevin, WA, Australia

Rating:
Date of Post:2015-01-29
Review: I have had a similar experience to many with IG Markets. With auto trades they continually change the minimum stop distance on their indices, which means my trades are rejected. I have taken screen shots of before and after the changes and sent them to IG markets. They have replied saying they will look into the changes, but are unsure why the minimum stop distances would have changed. Maybe something to do with market volatility they think. They are tipping the scales in their favour if you ask me.

Bei Bei Lim, , Singapore

Rating:
Date of Post:2014-11-17
Review: Who is IG
IG is a market maker for Contract For Differences on shares, Forex and world stock market indexes.
Trading with IG
IG Markets has dealt the trades executed by their clients in two manners: Manual and Automatic dealing. In both manners, IG breaches the MAS administered laws. Further details and evidences will be provided below.
My cause
Over the past few years of trading with IG Asia, I have noticed several practices which are not in line with regulations put in place by regulatory boards (for eg, Monetary Authority of Singapore) and laws (for eg. Torts and contract law). These practices put traders at a disadvantage, and should not be tolerated. However, unless with great scrutiny, it is difficult to notice these anomalies. I have diligently put together many evidences after much analysis and evaluation and can confidently bring these practices to light.
Therefore, I am writing this article to inform traders and to garner support for my cause in advocating for fair trade within the CFD (Contract for Differences) trading industry.
Claims against IG (and evidences)
1) All automatic trades executed by clients are dealt in London, UK and not in Singapore as seen from the screenshot below.

This screenshot was taken from IG Singapore's trading portal. According to the MAS administered law, only CMS License holders are allowed to deal in securities. However, IG UK is not licenced and hence, is not authorized to deal with the trades of clients of IG Singapore. Based on this alone, IG has breached its contract.

MAS have confirmed in the email above that IG UK does not hold a CMS licence.
2) Similar to automatic trades, manual trades are also executed outside Singapore. They are executed by IG Australia. Therefore, these trades breach the contract as well.

IG has acknowledged that manual trades are handled internationally.
What you can do to help
I have started a petition on https://secure.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?pv=8 to garner support and gather victims of these unfair trade practices. These supports will greatly aid us as they provide us with the grounds to raise the issue with the relevant authorities to stop these unfair practices from spreading. IG also must pay a price for their unlawful and unethical trading practices. It will be greatly appreciated if you could sign the petition to support this cause. Together, as traders, we can make this industry a fairer playing field.
Over the past years, I have gathered much evidences and information. This space http://igmarketsreviews.wordpress.com/ will be regularly updated with my findings and evidences. In the meantime, please do show your support by visiting and signing the petition.
https://secure.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?pv=8

limayden, , Singapore

Rating:
Date of Post:2014-09-27
Review: Hi all,

Kindly go through to see whether you are affected and please inform those who you think that they are affected. Thank You.

I have recently started a petition against the unfair practices and trading systems of IG Markets Ltd on

http://www.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?nLPupib

Please copy the link above and paste it at Google search engine and/or at the web address bar.

Through this, I hope to gather like minded people and victims and seek compensation. At the same time, I hope that this petition drives IG towards a more transparent and fair trading system.

A) All customers of IG Markets can be deemed to be victims of their unfair trade system and practices. Customers of IG Singapore will expect that trades are executed by IG Singapore. However, this is not the case as trades are executed by IG UK or IG Australia.
The execution of trade is a form of regulated activity. Only entities which hold a Capital Markets Services (CMS) licence such as IG Singapore are allowed to carry out the regulated activities prescribed under the Securities and Futures Act (SFA) according to the Monetary Authority of Singapore. IG UK or IG Australia, a sister entity of IG Singapore, does not hold a CMS licence and hence is not allowed to deal (such as accept and execute trades) with the customers of IG Singapore. Based on this, IG has breached their contract with the MAS. Hence, all customers of IG are affected.

B) IG Australia had delayed or withheld executing of trades to see whether IG would profit or lose from executing trades (IG Australia had rejected after delaying the trades although trades were executed at IG’s quoted price). This has resulted in a loss of profits as trades that were legit were subsequently rejected.

Thus, it is important for clients of IG Markets Ltd to stand together against these practices to fight for our rights as traders and to fight for a fair trading platform for everyone’s benefit. Clients of Stop Orders, Limit Order and Stop and Limit Related Orders may relate to this cause more as these orders are often routed for manual execution, which is often carried out in IG Australia (please be referred to point A above). These trades are then executed by IG Australia which is not a CMS licensee. Hence, IG had illegally executed the trades according to the evidences.
Over the past 2 years, I have been conducting research and analysis on IG Markets and managed to gather a relatively substantial list of evidences against IG’s unfair practices.
My Evidences include:
- Unreliability of IG’s trading platform,
- How IG manipulates my trades,
- Unfair and non-transparent reasons for the rejection of my trades
- Unauthorized execution of my trades (my trades were routed to IG Australia for manual execution when my trades must only be executed by IG Singapore)

Should you wish to contribute to my cause and to build a stronger case against IG Markets, do contact me at [email protected] Also, do sign the petition at the link above to support the cause. Thank you and I look forward to your support.

Rohan, Australia, Australia

Rating: No Rating
Date of Post:2014-04-09
Review: Please be aware that IG market provides false and misleading information to attract customers. I was told that i will be able to trade all size of contracts but after I opened the account they informed that I can trade minimum of 0.5 contract and that too for just 2 weeks only as a promotion and then minimum I have to trade is 1.0 contract.
I surprised to hear that and requested them for trade account with small contract size they just refused to do it. Hence, I told them it to close the account and they were barely bothered about it.

First time users and beginners please be aware about it that they do not deal in small contract size and minimum you can trade is 1.0 contract size which I suppose is too expensive for newbies and learners.
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