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#467545 - 08/11/17 19:23 Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ?
mhdus Offline
Junior Member

Registered: 07/19/16
Posts: 72
Loc: Düsseldorf, Germany
IG have converted all accounts by default to "Limited Risk" which means you MUST have a Stop Loss which is then automatically a guaranteed stop. There are 2 cost impacts (at least): they charge you for the guarantee if the stop is triggered and, more critical for Z-traders: the margin is calculated based on the stop distance. So margins are extremely high due to the usually very distant stops sent by the Z systems. Now I wonder if I need to look for a new broker or if this can be managed using the StopFactor setting in Z.ini ? I tested with StopFactor = 1 but the stops are still way too far. Could I use StopFactor 0.1 or so - would that trigger such stops unexpectedly? Any other potential side-effects?
In parallel I'm asking IG support to revert my account to the old rules, if possible...

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#467546 - 08/11/17 19:33 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: mhdus]
jcl Online

Chief Engineer

Registered: 07/22/00
Posts: 25979
Loc: Frankfurt
This is a strange limitation. You can then not use virtual hedging since pool trades have no real stops. So you had to set Hedge to 2 and StopFactor to 1.1 or so (not 1, otherwise the stop is triggered by the broker). This also implies higher trading costs. If IG cannot go back to normal rules, I would look for another broker...

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#467549 - 08/11/17 21:28 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: jcl]
Sphin Offline
Senior Member

Registered: 12/11/13
Posts: 417
Loc: Fuerth, DE
Could it be that the new limitations are due to the new rule of BaFin that the sale of CFDs in Germany to private customers is forbidden if they are liable for negative balances? This rule is effective since yesterday.

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#467550 - 08/11/17 22:23 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Sphin]
kmerlo Offline
Newbie

Registered: 03/08/17
Posts: 47
Loc: Bologna
I am Italian and I have IG and my account isn't changed , it is still standard.
Maybe it is a problem in Germany as supposed by Sphin ...

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#467565 - 08/12/17 20:17 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: kmerlo]
Dalla Offline
Member

Registered: 02/24/17
Posts: 211
In Sweden I have not seen this change on IG either

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#467566 - 08/12/17 20:54 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Dalla]
Sphin Offline
Senior Member

Registered: 12/11/13
Posts: 417
Loc: Fuerth, DE
I guess it is limited to Germany only but not only to IG. laugh

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#469043 - 11/03/17 23:17 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Sphin]
fran Offline
Newbie

Registered: 10/24/17
Posts: 25
This limitation is also in IG Spain.

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#469360 - 11/12/17 14:47 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: fran]
Spirit Offline
Moderator

Registered: 09/02/03
Posts: 734
It would be good when pool trades had a parameter for a maximum stop distance.

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#469541 - 11/20/17 11:33 Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Spirit]
jcl Online

Chief Engineer

Registered: 07/22/00
Posts: 25979
Loc: Frankfurt
Such a parameter will be implemented in the next update.

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