Anyone spread betting Forex??

[igor123]

Quote from Bitstream:

beware of ig..after playin' every trick on me they even tried to defraud me acct.... am not kiddin' u.

I would appreciate if you could be more exact. You see so far I have not seen any signs of things that you are writing about. For example: after every trade I get trade confirmation emailed to me immediately with opening price and size. The spot forex quotes have never been any different from Reuters quotes. Oil, oil options, gold, indices all are quoted from the exchanges (I have checked).
So as I said please be more exact.

 

[booking]

I spreadbet forex - but I am an EOD trader, so if the quote is out by a few pips it doesn't make much difference as I am looking for tens if not hundreds of pips profit per trade.

I dont think the way the likes of IG massage their quotes is suited to scalpers. If the price is moving up or down, IG will move their quotes a few pips ahead of the current direction.

However I am profitable (although I received a nasty drawdown this week) and have never had problems with IG or Capital Spreads closing positions for many thousands of pounds profit.

 

[sccz97]

Quote from igor123:

Look, I have had accounts with Refco, FXCM, GFT, Gain, ACM, Hotspot, Saxobank, Alpari, IFX, FXsol, traded on Currenex, belive me there is no big difference between all of the mentioned above and a spread betting firm (I have a personal experience only with IGIndex).
All of the above mentioned MM's except for the ECNs(hotspot and currenex) manipulate prices, some on the regular basis some on the news releases. Currenex and Hotspot have there own minuses like partial fills (believe me these can be disastrous during news trading).
Standing aside is Oanda they seem to be an "honest" one.
I always have 3 quote feeds and on IGIndex I’ve never seen a quote that could not be found on Reuters charts.
From my four year trading experience I see no difference between say Oanda and IGIndex.

Well maybe you know the difference? Let me know.

For the most part I agree. Although IGIndex is a spread betting company, their prices rarely deviate significantly from the broader market. I used to trade news on IG and in only one instance (uk trade balance sometime q4 2004) did their prices spike. All it required was a phone call and they put my position back into market. However, if you do regularly profit with substantial size with IG they will put you on manual execution and that's when they start to play games.