IG Customer Service not answering Emails?

[Nokita55855]

 

So I already send 3 mails to the german customer service, but haven't gotten an offical answer yet, I tried calling but hung up after an hour. This is my mail:

I am interested in trading during the extended hours. I have some questions about order execution.

1. When are the CFD orders forwarded (HFT provider?)? Who takes the opposite position in a CFD trade (CFD Trade in Extended Hours)? What sources do you use to find a counterparty?

2. When can orders in extended hours trading not be executed? Would it be more likely that the order cannot be executed during the earnings announcement / in the case of high volatility / jumps? Could a buy order at $ 460 and a sell order at $ 470 have been executable in today's after-hour trading at Netlix? I attached the chart with purchases / sales every second at the moment of publication of the quarterly figures.

3. Slippage: What tolerance limits has IG set as the default? How can I expand / reduce this? For example: If I want to enter a CFD buy order at 460, can I set a slippage of $ 5? 

 

Would be much appreciated if I could get an official answer from IG

Edited April 25, 2020 by Nokita55855

[Caseynotes]

11 hours ago, Nokita55855 said:

 

So I already send 3 mails to the german customer service, but haven't gotten an offical answer yet, I tried calling but hung up after an hour. This is my mail:

I am interested in trading during the extended hours. I have some questions about order execution.

1. When are the CFD orders forwarded (HFT provider?)? Who takes the opposite position in a CFD trade (CFD Trade in Extended Hours)? What sources do you use to find a counterparty?

2. When can orders in extended hours trading not be executed? Would it be more likely that the order cannot be executed during the earnings announcement / in the case of high volatility / jumps? Could a buy order at $ 460 and a sell order at $ 470 have been executable in today's after-hour trading at Netlix? I attached the chart with purchases / sales every second at the moment of publication of the quarterly figures.

3. Slippage: What tolerance limits has IG set as the default? How can I expand / reduce this? For example: If I want to enter a CFD buy order at 460, can I set a slippage of $ 5? 

 

Would be much appreciated if I could get an official answer from IG

Hi, you might get an 'official' reply from IG on the forum but then again you might not. I can answer some questions that you can check on IG's price execution web pages.

IG use a large number of liquidity providers who are all the usual suspects such as major banks, exchanges, hedge and pension funds as well as other large institutions.

IG first match shorts and longs in house from their 200,000 clients. Unmatched positions are parallel hedged where IG takes a same position as you and so if you win they also win and pass the profit on to you, If you lose they also lose and pass the profit onto the liquidity provider. It's a win/win for IG for though they don't get the whole spread as the do when matching in house they do profit because they get a far better spread than what the pass on to you.

Entry orders might not be executed if the gap between the order and the current price exceeds certain tolerances during periods of high volatility and low liquidity, the price specified may simply not exist due to gaps in the price ladder. Exit orders do get executed and may, for the above reason, suffer slippage. 

The MT4 platform has a basic check box for high or low tolerance to entry slippage (don't know if it actually works) but I don't think that is available on the web based platform. I've not seen a function that allows you to set a slippage tolerance amount.   

[dmedin]

All the IG staff be like 'RTFM'

[Nokita55855]

3 hours ago, dmedin said:

All the IG staff be like 'RTFM'

Hypothesis might work if I couldn''t reach them via phone either

[Nokita55855]

10 hours ago, Caseynotes said:

Hi, you might get an 'official' reply from IG on the forum but then again you might not. I can answer some questions that you can check on IG's price execution web pages.

IG use a large number of liquidity providers who are all the usual suspects such as major banks, exchanges, hedge and pension funds as well as other large institutions.

IG first match shorts and longs in house from their 200,000 clients. Unmatched positions are parallel hedged where IG takes a same position as you and so if you win they also win and pass the profit on to you, If you lose they also lose and pass the profit onto the liquidity provider. It's a win/win for IG for though they don't get the whole spread as the do when matching in house they do profit because they get a far better spread than what the pass on to you.

Entry orders might not be executed if the gap between the order and the current price exceeds certain tolerances during periods of high volatility and low liquidity, the price specified may simply not exist due to gaps in the price ladder. Exit orders do get executed and may, for the above reason, suffer slippage. 

The MT4 platform has a basic check box for high or low tolerance to entry slippage (don't know if it actually works) but I don't think that is available on the web based platform. I've not seen a function that allows you to set a slippage tolerance amount.   

Thank you, have you traded in pre/AH Market before? Is it possible to get filled on extreme breakouts like on earnings?

[Caseynotes]

10 hours ago, Nokita55855 said:

Thank you, have you traded in pre/AH Market before? Is it possible to get filled on extreme breakouts like on earnings?

I don't trade those markets myself but I would think IG would be quite good at supplying prices and they do say in their blurb for offering extended hours one of the main reasons was to enable traders to take advantage of price moves on earnings releases etc.