Jump to content
  • 0

orders - minimum distance AUS 200



Is there any reason I could not make an order within 120 points overnight 23/06/2016.  That seems an excessive distance from the actual price of the index  and even now during market open   the minimum is still 30 points.  What's going on anyone know?

Link to comment

1 answer to this question

Recommended Posts

I had a similar problem and contacted IG support and was told that it was to protect the clients. Despite explaining that limit order has nothing to do with protection. Limit is a simple way to place the order instead of staying glued to the screen to watch the price to come to the preferred level and then place the 'deal' order. It fell on deaf ears and they still are stuck to their view. Below is the response from Gio Pilides (IG Trading Services)


"I have spoken to my colleague Simon regarding your complaint, I believe you spoke to him earlier today. As he earlier, our indices desk have set minimum limit distances as we're looking to prevent clients from incurring large amounts of slippage in the volatile market. As Simon mentioned, if you call dealing team, they'd be glad to place an order closer to the market for you over the phone, however this is not possible through the platform"


My question is how can slippage problem (even if it is true) be solved by stopping clients from placing the orders with minimum distance of 90 points (sometimes 360 points) from current price for DOW 30? As long as the client gets the price better than the preferred price, how is slippage an issue? By the way other platform does not have such limits implying it is not a regulatory issue and cannot be.


Could some members comment on this issue?

Link to comment


This topic is now archived and is closed to further replies.

  • Posts

    • Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame.      
    • US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy.   The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish?   Apr 28, 2022 | DailyFX Nick Cawley, Strategist
    • While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.        
  • Create New...