IG v Etorro

w00519772

WillGates wrote: »

Yes you can have demo accounts with multiple providers.

Do you have multiple accounts?

londoninvestor

to_jackie_too wrote: »

So why not just scale down your Nasdaq exposure in the SIPP, and stop messing around with derivatives?

Just scaling down the position wouldn't be equivalent to Will's derivatives strategy - he has gamma, vega and theta which can't be replicated just by taking a smaller position in the underlying. Essentially he wants to sell volatility, not just moderate his delta.

It's not something I'm into personally, but there are funds that do it as part of an income strategy, so not totally left field.

bd10

I trialled IG for fun. Actually, I did a little experiment. I opened a demo account for FX and used my Reuters platform side by side. The objective was to see how the price and move the bid/ask. IG had some latency to real time FX quoted on Reuters. Whenever the price was out by a few ticks, I bought/sold on IG. Theoretically I should have been in the money every single time. But that was not the case. After I had a position on, they then moved the bid/ask away from the wholesale market level I saw on Reuters and in every instance, I was losing.
Take from this what you want, but let's face it those disclaimers at the bottom of IG's and etoro's web site stating the percentage of retail investors losing does not come from nowhere.
Have you considered e-micro contracts offered on the CME?
https://www.cmegroup.com/trading/fx/e-micros/e-micro-euro_contract_specifications.html
This is a competitive market place with transparent pricing, no funny business going on there. The overnight maintenance margin is USD 200 against a contract size of 12,500 EUR for the EUR/USD pair. I am dealing on the Merc myself in a different product group and would never touch an OTC product where I am have to go back to the same market maker who sold something to me. But that's just me.

sendu

Just beware that on some platforms (almost certainly eToro), the practice account and actual account differ in significant ways, such that it might be impossible to replicate any practice success you had with real money. Once you realise this, they charge hefty fees to take your money out.

Be warned.

Alexland

I wouldn't even trust a company like Etorro with my contact details - let alone any money.

w00519772

Alexland wrote: »

I wouldn't even trust a company like Etorro with my contact details - let alone any money.

What about IG?

2kidsgood3kidsheadache

I have traded Forex for a few years, it is not easy so please don't anyone think it is or get suckered in by marketers.
It can change your life but it should never be taken lightly.
In terms of a platform to trade on, mt4 is the most common but I personally just trade direct at EagleFX using their web trader(other brokers are available lol).

treenyttt

2kidsgood3kidsheadache wrote: »

I have traded Forex for a few years, it is not easy so please don't anyone think it is or get suckered in by marketers.
It can change your life but it should never be taken lightly.
In terms of a platform to trade on, mt4 is the most common but I personally just trade direct at EagleFX using their web trader(other brokers are available lol).

Good advice, it's far from easy. I started trading with EagleFx too a few weeks ago. 24/7 trading suits me just fine :-)

WillGates

treenyttt wrote: »

Good advice, it's far from easy. I started trading with EagleFx too a few weeks ago. 24/7 trading suits me just fine :-)

https://forexbonuslab.com/eaglefx-review/

"EagleFX is a Forex brokerage located in the Commonwealth of Dominica ...."

"Before we even begin our EagleFX review we need to say that this company is most definitely a scam. "

"The only issue we have with the withdrawals is that it’s only available via Bitcoin and nothing else."

I can't withdraw
★☆☆☆☆
“They got me with their $10 minimum deposit offer. I traded a bit and made around $200, but it's been two months since I filed for a withdrawal. I've definitely... ”

DYOR