IG Product Updates

So if I were cover 100% of my opening CFD position, there should be no chance of getting margin called, or positions automatically closed, right?

is it legal for IG trading to manipulate the market like this by not allowing position on GME?  totally disgusting

Extremely disappointed. Increasing margins make sense. Banning buys? What in the world. "Prioritising service to existing clients". You mean you're manipulating the market because the people who pay you told you to do so. Well done. 

Yet another broker who is going to get sued. Let me guess who your order flows are through.... 

I would recommend everyone read section SYSC 3.1 Systems and controls of the FCA handbook. The contract we all signed with IG seems to run counter to what they are doing. Stinks of market manipulation.

Can anyone explain whether this means you are able to buy or sell normal equity shares in GME? 

Is this for real?

IG are actually preventing people from trading in these stocks?

“Due to the recent extreme volatility, and in order to prioritise the service we give our existing clients we are not allowing any new positions to be opened” ???? This doesn’t even make sense.

Absolutely atrocious, you’re joining the Robinhood gang!  Nothing other than protecting the hedge funds while the individual loses out. This is not prioritise your service to your clients unless your owned by Wall Street.

This action is for no reason other than miniminse share price increase while the shorting continues throughout next week.  I will certainly never be using the platform for trading and will make sure my co-workers follow suit.  Dispicable!

At least now we have someone in the UK to sue now rather than just RobinHood

IG, you are  totally disgusting.

I would like to convert my cfds into shares please....that i all, if you are going to play this game.

what will be the 100% margin amount for 1500 share of amc which i bought at 19?

Total and utter disgrace by IG here!! Which hedge funds are paying you off IG? This whole rotten system stinks, and its blatantly obvious what's going on here. I hope everyone withdraws their funds from IG and they flow to brokers which allow free and fair access to the markets. IG have completely lost my trust. I'm out. 

What BS, sure I can buy more volatile stocks than GME ? How would me buying a stock with my own money (no leverage) affect the services you provide to customers ? 

IG this is so disappointing that you are taking part in stock manipulation like robinhood!!

I just received your email that you are not allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment, but you are allowing current positions to be closed...

 

Maybe I'm mistaken, but to close a position (sell), there is typically a new position (buy) at the other end. 

1. If IG is blocking me from buying US:GME, who is buying the closed positions?
2. If some parties are allowed to open positions, while others are blocked, what would you say to accusations by members of the US Congress that this is market manipulation? 
3. Are you worried that IG may fall under a US:SEC Review for these actions, similar to Robinhood? 

I look forward to buying more GME when the market opens on Monday. 

 

Hang on. ELI5 please: If I have to go 100% margin on these stocks, whats the point of CFD then? I pay for position open, risk losses due to volatility, and dont get the ownership of the underlying asset? Shouldn't this be considered as share purchase then? Do Hedgefunds and HNW have buy restrictions too or is it one sided against retail? Assking for future formal complaint.

If margin requirement is 100% it means that IG won't charge any overnight interest, right?

This doesn't feel real...if you are willing to trash your reputation like Robinhood something must be fundamentally rotten. 

What happens if I just want to be an owner of these stocks so that I can have voting rights at AGM? I can't do business with a broker who halts one side of a trade. If there's no buyer then why bother selling. I may decide to close my account after Monday based on whether IG reverses this action or not.

And the game isn’t rigged??? What happened to a free market!!

Please retract these actions. 

Not only is this market manipulation...

The constant crashes freezing users out of the market are making you unviable as a broker at all. 

Fix your issues and maybe avoid a lawsuit? 

 

I thought the past 3 days of conveniently being unable to log on to my accounts when the US market Opened was bad enough.  Now straight up manipulation to limit people buying the stock, I am appalled you have taken this decision.  

ANYONE WITH STAKE IN AMC AND GAMESTOP READ THIS

 

You need to file an official complaint with the SEC detailing the exact nature of this complaint.

 

https://www.sec.gov/oiea/Complaint.html

This will be used in the class action lawsuit this company will face for what is clearly market manipulation. And here I thought I had one of the good brokers. How can anyone be expected to keep their account with IG after this? 

 

https://www.sec.gov/oiea/Complaint.html

2 hours ago, Jason_N said:

I just received your email that you are not allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment, but you are allowing current positions to be closed...

 

Maybe I'm mistaken, but to close a position (sell), there is typically a new position (buy) at the other end. 

1. If IG is blocking me from buying US:GME, who is buying the closed positions?
2. If some parties are allowed to open positions, while others are blocked, what would you say to accusations by members of the US Congress that this is market manipulation? 
3. Are you worried that IG may fall under a US:SEC Review for these actions, similar to Robinhood? 

I look forward to buying more GME when the market opens on Monday. 

 

I second this.

I am an existing customer.

In my interests please remove blocks on purchase of GME stocks.  I am fully aware that my capital is at risk, stocks are volatile. I accept that and continue to want to buy GME on Monday.