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GameStop and AMC Entertainment and margin update


CharlotteIG

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Gamestop AMC trading restrictions

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 on the US stocks GameStop and AMC Entertainment.

These restrictions apply to all IG accounts, and will be reviewed regularly. You will still be able to close any open positions that you have in these stocks. Any orders that you have already placed on these two stocks will remain.

In addition, if you have any spread betting or CFD positions on either stock, please be aware that the margin required to keep your positions open will increase to that listed below from 4pm (UK time) on Monday 1 February. Please ensure that you have enough money on your account to cover the margin requirement.
Stock New margin
AMC Entertainment Holdings Inc 100%
GameStop Corp 100%

 

Margin increase

Due to increased volatility, from 4pm (UK time) on 1 February 2021 we are increasing margin requirements for a range of stocks:
Stock Tier 1 margin
Palantir Technologies Inc 50%
Macerich Co 100%
Blackberry Ltd (CA) 100%
AMC Entertainment Holdings Inc 100%
GameStop Corp 100%
Blackberry Ltd (US) 100%
SunPower Corp 100%
Gogo Inc 100%
Bed Bath & Beyond Inc 100%
Accelerate Diagnostics Inc 50%
Ligand Pharmaceuticals Inc 100%
National Beverage Corp 100%
AMC Networks Inc 100%
American Airlines Group Inc (All Sessions) 25%
Nokia OYJ - ADR 25%
Nokia OYJ (Fin) 25%
Nokia OYJ (DE) 25%
Nokia OYJ (SE) 25%
Nokia Corporation 25%
ContextLogic Inc 100%
Virgin Galactic Holdings Inc (Ord) 100%
Sundial Growers Inc 100%
Dillard's Inc 100%
Fossil Group Inc 100%
iRobot Corp 100%
Tootsie Roll Industries Inc 100%
National CineMedia Inc 100%
CEL-SCI Corporation 100%
GSX Techedu Inc 100%
Vir Biotechnology Inc 100%
Seritage Growth Properties 100%
How will I be affected?
If you have any open positions on these stocks at 4pm (UK time) on Monday 1 February 2021, then the margin required to keep those positions open will change. You’ll need to have enough money in your account to cover the increase and prevent your positions from being closed out.

Margin requirements for working orders will also be subject to the new rate.

Changes to margin rates are the same for daily funded bets and forward bets, and for cash CFDs. For full details of how we calculate our margins, please contact us on the details below.
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76 Comments


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Guest Dan Hodgson

Posted

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

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

  • Like 2
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Guest Cairnsy91

Posted

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 ? 

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Guest Marcins

Posted

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

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Guest Ovidiu

Posted

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

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Guest Outraged

Posted

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.  

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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

  • Like 3
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