The four-trade monthly minimum for FREE access will NOT apply to you

Forums › ProRealTime English forum › ProRealTime platform support › The four-trade monthly minimum for FREE access will NOT apply to you

Viewing 15 posts - 1 through 15 (of 38 total)
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  • 05/27/2017 at 2:04 PM #36769
    David

    I received this email from IG and I’m wondering if anyone else has received the same?

    We have reviewed your account activity, and unfortunately we are no longer able to provide our third-party charting package ProRealTime to you for free. However, your free access to IG charts will continue as normal.
    We will turn off your access to ProRealTime at the end of the month. If you turn it back on, you will be charged SG$60 per month – the four-trade monthly minimum for free access will not apply to you.
    If your trading size and frequency increase significantly, we will be happy to reassess your eligibility. We will do this automatically after three months, and let you know if you qualify for free ProRealTime once again.

    I have been making the 4 minimum transactions per month as per the website.

    You can get access to ProRealTime charts at no extra cost if you transact at least four times in a given month. Otherwise there is a SG$60 per month fee.
    https://www.ig.com/sg/prorealtime

    Talk about moving the goal posts and setting them to whatever IG feels like!

    1. ProRealtime needs to fix the errors in the platform and 2. they should license the software to other brokers.
    05/27/2017 at 3:10 PM #36777
    GraHal

    Hi David, thanks for sharing

    Would your 4 minimum transactions per month have netted IG SG$60 per month?

    That’s the only thing I can think of?

    GraHal

    05/28/2017 at 10:50 AM #36831
    Elsborgtrading

    That is just really bullshit. You uphold your end of the agreement and now its not good enough? One more oppertunity to say that IG is not your friend. They just want you money- regardless. Close the account and apply for a premium account with prorealtime. If no luck with this, find another broker. The PrT platform is not what should make you stay. Many others brokers with the similar or better platform.

    Rent over Kasper

    05/29/2017 at 1:28 AM #36856
    David

    Grahal how much I’ve netted per month is irrelevant. Did I meet the minimum stated requirements as listed? YES

    What is relevant is the offer/promise that is made and then changing that offer and not being clear about the new offer.

    Kasper I still prefer to pay through IG because you get an experience closer to what you “might have” when running Live plus there are a few coding differences between IG and PRT direct another headache.

    I’m all ears to other platform/broker suggestions – many thanks.

    05/29/2017 at 9:11 AM #36864
    GraHal

    Hi David, Yes I agree looking at the stated words (4 trades per month etc).

    It was just a thought that maybe IG run a database query that pulls accounts that have not made IG (in spread, overnights etc) a 3 or 6 monthly average of SH$60 per month?

    There has to be some reason like this as they would not just single you out at random?

    05/29/2017 at 11:26 AM #36879
    Eric

    They could have done this better, why not send out some kind of warning first?

     

     

    05/29/2017 at 2:51 PM #36935
    David

    That’s an excellent point Eric. A company with excellent customer service would reach out and ask if there’s something they could to assist and kindly provide a warning with at least 1 month’s notice instead of a few days.

    This reminds me of the time they decided to tell me I needed to restart my systems with less than 24hrs notice which of course 1 was in a drawdown.

    05/29/2017 at 3:45 PM #36939
    Nicolas

    Many people already asked me why about this sudden change,  I think they certainly have good reasons to change their customers policy about this. I’m not aware of everything related to IG services, so I can’t help more sorry 😐

    05/29/2017 at 4:26 PM #36947
    manel

    David – I too have received this email. I queried this with them on Friday and complained about the lack of notice (1 week), the sudden change of the terms without consultation etc etc. I was particularly annoyed as I always meet the minimum required trades quota. The agent promised to look into it and raise it with the relevant dept.  Needless to say he didn’t and I received no further reply from them. I do however have a Premium account manager there who I will speak to tomorrow and sort this out. As a client I make at least  250 + trades/mth so they have made more than enough in commision/spread to cover the costs of PRT from me. But this is across multiple accounts (as I have more than one) so I will be asking them to take this into consideration.

    With regards to why they have chosen to do this, I think Grahal is right, it’s down to simple economics. They realised that 4 trades is not enough for them to cover their costs. But it’s shocking that they have not specified a new limit in their email suggesting that this was done in haste and they don’t even know themselves what is their “break-even”.  And as people above have rightly pointed out – there are still issues with Auto trading in PRT (but we are making good progress :-)) so it’s not reasonable for IG to move the goalposts whilst their clients are the ones suffering losses trying to improve the system.

    Very poor service I agree.

    05/30/2017 at 11:17 AM #37026
    Derek

    IG and their direct competitors are enduring less profitable times, as we can see here.

    They seem to be forced to save some money. Still, a public announcement of changes is more likely to retain me as a customer.

    05/30/2017 at 11:27 AM #37027
    Eric

    someone have to pay for this?

    http://uk.reuters.com/article/uk-britain-regulation-derivatives-idUKKBN13V0UA

    05/30/2017 at 11:45 AM #37030
    Derek

    I wish they somehow allowed for tighter guaranteed stops and guaranteed stops only. I’d pay for that.

    05/31/2017 at 1:39 AM #37075
    Abbo

    Hi Elsborgtrading,

    you say “Many others brokers with the similar or better platform.”

    I am getting tired of waiting for PRT to repair their platform and it is hindering my trading significantly. I did like PRT charting and have had no issues with IG Markets but…  I cant wait forever.

    What other brokers can you recommend with a better platform

    Thanks

    05/31/2017 at 5:59 PM #37150
    Elsborgtrading

    Dear Abbo. Point is that no platform should be the reason to stay with a broker.

    But we get attached to what we know, and have problems to part with it. What is it that makes PRT your favorite platform? for me same reason just written. Just google other tradingplatform reviews and it will pop up. It would not be appropriate for me to suggest other platforms in this forum.

    anyway an update, I wrote Prorealtime to ask if this also was their policy now-:

    I hear from around the community that IG is now charging a monthly fee for the use of Prorealtime software- regardless of the agreed 4 monthly trades is met.

    Does this also apply for a Prorealtime account through IG?

    Dear Mr Elsborg,

    Thank you for your message.
    This new conditions apply indeed also for IG sponsored by ProRealTime accounts.

    As to my knowledge ProRealTime will still be free if you are trading actively. I advise to contact IG directly in order to learn more about the new conditions

    Cheers Kasper

    05/31/2017 at 6:48 PM #37154
    JC_Bywan

    Beyond the short notice, not saying clearly what the new conditions are for a free PRT is highly disrespectful from IG, to say the least…

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