IG Review

IG is finally getting their act together and beefing up the FX offering. New Technology which is based on the same type of Java like FXCM, ACM and others use is implemented. Frankly I do not understand why it has taken a firm of that size so long to figure out the basics of client FX. I am happy camper with them now.

I used to use IG until it was obvious they didn't like me winning, and I was on the phone to them re: every trade complaining. Always, they would say it was a mistake on their part, but as a customer you get very tired of their deliberate mistakes. They have a slippage policy, no matter what. They drop you out of positions or out of positions depending on how it suits them. If you try to take a market price is will be held, then rejected and the platform is such that to get another price, isn't worth it. They are typical of all SBs in the UK, ie a betting firm where they set the rules completely, and the customer is at their mercy.

I used IG for 3 years. I can say that their trading platform is one of the best in the business, however I strongly recommend for the first few months to go in with a low value per point and keep your limit low ( say 1 pound a point with a limit of 50 or 75). WHY? well, the platform is very unstable at price sensitive moments or times of high volume.You can easily get caught up in a negative wave without having access to your position! I know this sounds wierd but you have to get use to dealing with THEIR PARAMETERS. Just make sure that while you are learning the platforms vulnerabilities, cover yourself with low bets per point. While disadvantageous and crooked,I still found it useful in covering myself with long bets(say predicting wall street is gone be lower in 2 months time). BEWARE, this method must carry with itself a sizeable margin,say, 400 points also it must be a big enough bet since you are going to wait a little while to cash in. overall, at the beginning as a novice to their platform I lost heavily. however once I got the hang of it, I found that by sitting behind the keyboard for long stretches at a time and be extremely disciplined,you can do some damage. Final word is fantastic platform when it works the way it should,but be VERY CAUTIOUS.

They are great broker if you are losing money. But as soon you start making some money, you will constantly get no fills or the price is no longer unavailable. They are complete waste of time.

When IG obtained clearance from MAS (Monetary Authority Of Singapore)to set up shop in Singapore, I had my misgivings after reading the negative postings on this site. To get clearance from MAS is never an easy process. Years ago, we blocked the BICC from operating in Singapore despite the former British Prime Minister, Mr. Heath coming here to talk on BICC's behalf. Since IG managed to get thru, I thought they might have turned over a new leaf, and to be fair I made no comments when a friend finally signed up with them. 2 trades later, my friend threw in the towel. The first trade had a slippage of over 50 pips. And that was not even a NFP trade. The next day, they slipped him again for 22 pips in another trade. This company is an absolute scam. If they can do this in Singapore under the nose of the MAS, just imagine how much more they will they do so in countries with less rigid financial regulations.