Talk:IG Group

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IG are a bunch of goddamn cheats

can you prove that? —Preceding unsigned comment added by 86.129.130.226 (talk) 21:37, 30 August 2007 (UTC)

The article does seem to take a very pro-IG line. Might be worth researching critical stories in the press, etc. There has been talk that they encourage irresponsible gambling, adversely affect the markets and also have serious issues sometimes with unpaid debts, etc. LiberalViews 11:29, 31 August 2007 (UTC)
I have never heard of that. I think you are just being provocative —Preceding unsigned comment added by 86.129.130.226 (talk) 23:25, 6 September 2007 (UTC)

Yes , the article is probably taken care of by IG , there are so many complaints about them in the net but not here —Preceding unsigned comment added by Az-seller (talk • contribs) 20:27, 17 September 2007 (UTC)

--Jayjay520 12:48, 19 September 2007 (UTC)

This IG_Group content sounds and advert content. Should be removed

This page is constantly changed by IG Group employees and the entire negative information is removed.So don't expect anything useful here.

Hi

I work for IG and it was myself who spotted the initial controversial edits by Az-Seller. I sent them a message on Tuesday requesting a discussion about it, which they refused to enter into. It can be seen at user talk:Az-seller. I then felt compelled to remove the libellous material, which has since been replaced by Forexamateur, again without citation. It is this repetition that makes me think the matter should be resolved by a third party. If you would like to talk about it, post on my user page.

Best

Oliver Oliverig 16:33, 28 September 2007 (UTC)

So when these questions are directed to your customer support they will play dumb ass but once the problems get public you suddenly want to "discuss" this? People , just look through the web what people write about IG , you don't need to read wikipedia for this , they will remove any negative content over and over again anyway —Preceding unsigned comment added by Forexamateur (talk • contribs) 17:04, 28 September 2007 (UTC)

Hi Forexamateur, as myself and other users have mentioned, the issue here is uncited, inaccurate and libellous content, which has no place on Wikipedia, not merely negative content. Many thanks, Oliver --Oliverig 09:55, 1 October 2007 (UTC)


So you do not want to deny that IG Group manipulate their customer's positions to drive them into losses? You also do not want to deny that IG Group make profits from their customer's losses and that there are significant malfunctions in the platform? If I was an IG employee I would at least try to deny that.But there is probably nothing to deny... he , he... —Preceding unsigned comment added by Forexamateur (talk • contribs) 18:10, 1 October 2007 (UTC)

Contents

[edit] Removal of the entire negative content by an IG employee

Oh yeah , it would be very nice to hear from Oliver what exactly from the text he thinks is not true.The text contained only a small number of facts:

1. IG Group make profits from losses made by their customers

2. IG Group make losses every time their customers take out a profit

3. IG Group have technical problems in their platform which do not allow to open/close/change trades very very frequently and make daytrading nearly impossible

4. IG Group have a special interest in losing customers and reluctance to profitable customers

5. IG Group create an artificial trading environment (at least for Forex and precious metals) in which the orders are not passed on to the market but the customer is trading within IG Group's computer system

Come on Oliver , you work for IG Group and you have removed this information from the Wikipedia article , so which things listed above are not true? I was IG's customer for almost two years so I personally know very well what's going on but this is definitely the first opportunity to hear a public statement from an employee of IG , so far I have only heard from IG that my computer does not fulfil the technical requirements of your trading platform (actually all 3 computers and the laptop) which is why there are all those problems

[edit] Removal of this talk page by an IG employee

This entire talk page has been removed by an IG employee , I have reinstated it again.I am not going to put this information into the article again but the neutrality dispute has not been resolved and the talk page must remain active

[edit] Sections removed by an IG employee from the article

Below you will find a list of all sections which were removed by an IG employee from the article.I will not put them into the acrticle again.But since the neutrality dispute is ongoing this information should be posted on the talk page so it can be discussed

[edit] Platform Issues

In recent months there were various complaints from forex traders about technical problems with the internet platform at IG Markets

Many of these complaints suggested that profitable forex traders were put on "manual execution" so the platform did not allow them to change open positions online which slowed down their trading and led to losses

[edit] External links

Customer Reviews

[edit] Unfair Business Practices

During 2006 and 2007 a significant number of IG Group's clients complained about unfair business practices which included:

- Freezing the platform during volatile market times

- Putting profitable traders on manual execution

- Slowing down the execution of trades

- Not displaying the spread while an order is being placed

- Deliberately widening the spread without notifying the customer

- Creating platform malfunctions to slow down specific customers

The nature of these complaints suggests that IG Group primarily target inexperienced traders and try to get rid of profitable traders using manual execution and various "platform malfunctions".

Furthermore the nature of these complaints suggests that IG Group do not pass on any orders into the market but instead they create an artificial trading environment in which they manipulate their customer's positions in order to profit from their customer's losses.

It is suggested that IG Group's main profits arise from direct losses made by their customers instead from the spread between bid and offer.This creates a very significant conflict of interest between IG Group and their clients.

[edit] Foreign Exchange Trading Issues

The biggest number of complaints against IG Group has been made by Forex traders accusing IG Group of manipulating their trades and causing financial losses

Foreign exchange market (unlike the stock market) is an OTC market (Over The Counter) meaning that any broker is able to make their own prices which the client may or may not accept.

IG Group use this difference between Forex and "regulated" financial markets for manipulation of their customer's positions.

The manipulation takes place through various platform malfunctions which are supposed to sabotage the trader's strategy and lead the trader into financial losses.

IG Group are a so-called "dealing desk broker" (DD) , this fact has very significant consequences for anyone trying to trade foreign exchange through IG Group."Dealing desk" means that IG Group create an artificial trading environment in which they manipulate their customer's positions in order to make profits through the customer's losses.Every dollar lost by the Forex trader (while trading foreign exchange through IG Group) becomes direct profit made by IG Group.The customer's orders are not passed on to the market but instead the customer trades within IG Group's computer system.This fact alone makes Forex trading using IG Group identical to gambling in a casino.

This fact does not only create a conflict of interest between IG Group and their clients but it has also a very significant impact on profitable traders using IG Group for Forex trading. The problem is that every profit made by a Forex trader with IG Group becomes IG Group's direct financial loss.This results in IG Group flagging accounts of specific customers and sabotaging their trading success through various methods (manual execution , increased spreads , inability to change open positions online etc.)

[edit] Third opinion

First, some comments:

  • This article needs a great deal of work. There is no introduction at the top, it is completely uncited, and its tone is not encyclopedic. After reading the article, I'm still not entirely sure what the company does.
  • Wikipedia is not the place to air your issues with a company. If you want to have a section called "Criticism," then you must cite sources and verifiable, credible for it. It cannot be built on your own claims. Forexamateur, if so many people have complaints about this company, surely there are some articles in newspapers or magazines to support their claims. Using them will strengthen your argument.

Hope this helps. Let me know if there's anything else I can do. — HelloAnnyong [ t · c ] 13:37, 2 October 2007 (UTC)