PureDeal is a trading platform provided by IG Markets for online CFD trading and spread betting. They claim it is used by more than 88,000 clients. As it is browser-based, you can access it from any Internet connected computer, and don’t have to rely on software you have downloaded.
It is quite uncomplicated and easy to use. The interface is customizable and includes a news feed. The layout is fully customisable and you can save and recall several different layouts. Each box on screen can be clicked and dragged around to rearrange and resize, so you can focus on the items that are important to your trading.
Because the platform is driven directly from their servers, you can rely on the charts being updated in real time. You can trade directly by clicking the large icons which provide you with one-click dealing, or from the chart you are watching, or by selecting the financial instruments from the drop-down menus. Because of the large number of securities offered, the instrument search tree can be somewhat annoying to use especially when I wanted to get a CFD position on fast and the CFD was not in my watch list. However, the dialog box does feature predictive search, which is somewhat like searching on Google, with possible names jumping into view while you are typing. And of course can set up your favourite CFDs in watch lists, which allows you to access them more quickly.
Another feature that IG Markets boasts about is price improvement, which means that if the price has got better since you clicked through your order, you will be filled at the advantageous rate. For the Forex trader, PureDeal also gives fractional pip pricing, which IG Markets claims provides tighter spreads.
The charting package is comprehensive with dozens of indicators and overlays available – and best of all it is provided free of charge provided you trade regularly. They offer over 70 technical indicators, and you can also make your own. You can customize the appearance, using different fonts and colours, and put together portfolios for easy access. There are a range of drawing tools for you to make your own annotations, and you are able to back test strategies against historic data. In case you think that all these features make it hard to understand, in addition to the manual the charts have context based pop-up assistance, so the system is manageable. The one drawback on the charts is that there does not seem to be any data provided on volumes.
If you’re not familiar with all the different types of instruments, then you could easily become confused. The PureDeal interface allows direct access to exchange traded products that are listed on the Nadex, the North American Derivatives Exchange which comes under the Commodity Futures Trading Commission in the US. You can enter orders directly into the exchange from the browser.
It is hard to fault this platform, as it has all the facilities that you could need. There are a series of videos explaining how to use it, and like all good platforms in use you don’t have to concentrate so much on the operation, and can focus on your trading. Perhaps,if one really tried to fault the platform one could mention that there are so many instruments one could trade that a beginner CFD trader might end up confused on where to start. However, provided you focus on the markets that you have researched and want to trade, then you will find that this to be first-class all round stable trading platform.