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Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? #467545
08/11/17 17:23
08/11/17 17:23
Joined: Jul 2016
Posts: 93
Düsseldorf, Germany
M
mhdus Offline OP
Junior Member
mhdus  Offline OP
Junior Member
M

Joined: Jul 2016
Posts: 93
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...

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: mhdus] #467546
08/11/17 17:33
08/11/17 17:33
Joined: Jul 2000
Posts: 27,977
Frankfurt
jcl Offline

Chief Engineer
jcl  Offline

Chief Engineer

Joined: Jul 2000
Posts: 27,977
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...

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: jcl] #467549
08/11/17 19:28
08/11/17 19:28
Joined: Dec 2013
Posts: 568
Fuerth, DE
Sphin Offline
User
Sphin  Offline
User

Joined: Dec 2013
Posts: 568
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.

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Sphin] #467550
08/11/17 20:23
08/11/17 20:23
Joined: Mar 2017
Posts: 48
Bologna
K
kmerlo Offline
Newbie
kmerlo  Offline
Newbie
K

Joined: Mar 2017
Posts: 48
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 ...

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: kmerlo] #467565
08/12/17 18:17
08/12/17 18:17
Joined: Feb 2017
Posts: 369
D
Dalla Offline
Senior Member
Dalla  Offline
Senior Member
D

Joined: Feb 2017
Posts: 369
In Sweden I have not seen this change on IG either

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Dalla] #467566
08/12/17 18:54
08/12/17 18:54
Joined: Dec 2013
Posts: 568
Fuerth, DE
Sphin Offline
User
Sphin  Offline
User

Joined: Dec 2013
Posts: 568
Fuerth, DE
I guess it is limited to Germany only but not only to IG. laugh

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Sphin] #469043
11/03/17 22:17
11/03/17 22:17
Joined: Oct 2017
Posts: 25
F
fran Offline
Newbie
fran  Offline
Newbie
F

Joined: Oct 2017
Posts: 25
This limitation is also in IG Spain.

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: fran] #469360
11/12/17 13:47
11/12/17 13:47
Joined: Sep 2003
Posts: 929
Spirit Offline

Moderator
Spirit  Offline

Moderator

Joined: Sep 2003
Posts: 929
It would be good when pool trades had a parameter for a maximum stop distance.

Re: Z Systems on IG Limited Risk accounts? StopFactor = 0.1 ? [Re: Spirit] #469541
11/20/17 10:33
11/20/17 10:33
Joined: Jul 2000
Posts: 27,977
Frankfurt
jcl Offline

Chief Engineer
jcl  Offline

Chief Engineer

Joined: Jul 2000
Posts: 27,977
Frankfurt
Such a parameter will be implemented in the next update.


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