IG Index

Company profile | Review summaries


Review By: SpreadBettingTrader on 5th Mar 2011 at 3:51

Spreads: 4 Range: 5 Support: 4 Overall: 4

Likes Dislikes
Large range of instruments, charts are superb
Not being able to instantly see the total profit/loss on each trade

Review:
I’ve had an account with IG Index since around September 2010. My attraction was the sheer range of markets, the competitive spreads and the ability to trail stops. Since then they have also added very good charting software provided by IT. This is either free if you place enough trades per month, or requires a monthly £30 fee (refundable if you then go and place enough trades).
The software is smooth, easy to use, rarely has issues with execution of trades, doesnt seem to suffer from slippage – sounds perfect, but my major bug bear is not being able to see the total profit/loss on an open position. WHY??? Every other spread betting firm displays this info right there as soon as you log on but IG Index seem to want to hide this from you and make it only available by endlessly exporting daily spreadsheets to Excel. No thanks!
The only profit/loss it displays is the daily result during open trading hours. They close each trade at the the end of each day and reopen it again so that profits are wiped clean. Strange system and one that has really put me off in terms of user-friendlyness as my trading strategy relies on me being able to see these figures easily. Support didnt seem to want to know about it and acted as though my request was strange.
So even though personally I’m leaving the platform I can still recommend IG Index for most users!

 

 

Review By: SB_Beginner on 22nd Feb 2011 at 3:11

Spreads: 4 Range: 5 Support: 3 Overall: 4

Likes Dislikes
By far the biggest range of markets, Excellent Advanced charting package
I don’t know how easy it will be to withdraw funds

Review:
I’ve only just opened an account with IG Index and already I’m a fan. The advanced charting package they offer probably has the most features of any of the spread betting companies. Their spreads seem relatively competitive although world spreads and SpreadCo both offer tighter spreads on the likes of the FTSE 100 and some other indices. They have the biggest range of markets available so whatever you want to trade you probably will be able to at IG Index. I can’t really comment on the support side of things as so far I’ve had no call to use them. I did receive a phone call just after I opened an account to see if I needed any help with anything, so that was nice. They also offer a reduced bet size for the first two weeks at £0.10 per Instrument. This is very useful if your just starting out. Overall I like IG Index and I see myself trading more and more regularly with them.

 

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