IG Product Updates

Has anyone used Revolut. Do they offer spreadbetting and what is their range of markets?

Looks like Revolut may be little better, in terms of system availability

 

 

Having had some advice from a financial advisor, to change the parameters of the contract that was made at the time of opening the position by changing the exposure after the contract has been made is illegal. SEC and United kingdoms financial regulatory authority will also find this to be the case. AS many people are going to lose money when their positions are closed after the goalposts have been moved. I really enjoy using IG and have traded on other platforms before using this one. I traded through first wave of pandemic on another platform and not being able to close positions in last week at crucial times has already cost me and many others, but to now change exposure and so forth is not a good solution. Best wishes Mark

Are Ig following suit? 

Interactive Brokers lifts trading restrictions on options

03:10

Jan 30 (Reuters) – Online trading platform Interactive Brokers Group Inc said late on Saturday it has lifted all trading restrictions on options in GameStop Corp , AMC Entertainment Holdings Plc and others hit by recent market volatility. ...

(Reporting by Rama Venkat in Bengaluru; Editing by Sam Holmes) ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607)

I’m also not happy about the blatant manipulation being attempted by IG. I don’t have as much money as most others but I was planning to buy a few GME on Monday. IG now banning that, and I can’t move cash away from them as it’s not currently in settled funds. Tried to use Revolut but they haven’t cleared my funds yet either so now 2 platforms have my money but I can’t buy shares. Absolutely stinks both for those who want to buy, and also for those who already hold shares and want to sell, as it feels inevitable that this underhand behaviour will cause the price to be dragged down. 

2 hours ago, markeddy said:

Are Ig following suit? 

Interactive Brokers lifts trading restrictions on options

03:10

Jan 30 (Reuters) – Online trading platform Interactive Brokers Group Inc said late on Saturday it has lifted all trading restrictions on options in GameStop Corp , AMC Entertainment Holdings Plc and others hit by recent market volatility. ...

(Reporting by Rama Venkat in Bengaluru; Editing by Sam Holmes) ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607)

I will be looking to open multiple accounts with different brokers so can trade with one if another halts certain stocks - think this is the only way forward (for me)

I bought some share on friday ! Does this mean they are going to close my existing shares or I just won't be able to add more shares.

4 hours ago, markeddy said:

Online trading platform Interactive Brokers Group Inc said late on Saturday it has lifted all trading restrictions on options in GameStop Corp , AMC Entertainment Holdings Plc ...

Unless IG follows Interactive Brokers Group, and lifts all trading restrictions in GameStop, AMC and others, my previous plan to move my £800,000+ SIPP to IG will be going to other brokers.

Edited January 31, 2021 by Charter

Time to close my account with IG. GamEnd

On 30/01/2021 at 13:48, CaptainIreland said:

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!

s a professional member with a Premium manager I contacted him but he knew nothing about this move from IG. I will be running down my open positions and closing my account as I have had enough of this manipulation. The system going down at 14:30 the last three trading days was at best a deliberate action to throttle the service and at worst a manipulation to stop customers trading and allowing the volatility to take them out with no recourse.

i am not very happy  with this action it is wrong cant buy but you can sell ? who is buying it if we selling it? 

we all know the risks off trading but this action is out of  order 

 

 

wsb reddit has a list of brokers that actually want to keep one or two customers after all this, unlike IG it seems. Reverse this decision or you'll lose us. Simple. Prove you listen to the customers you say you're doing this for. Removing the block and reversing this choice by Monday because your customers are very clearly against it would keep your existing customers, be a massive PR boost and bring in lots more customers over to you, many of which have left their current broker for the.very.same.reason that we will leave you

5 hours ago, Charter said:

Unless IG follows Interactive Brokers Group, and lifts all trading restrictions in GameStop, AMC and others, my previous plan to move my £800,000+ SIPP to IG will be going to other brokers.

dont have as much as you but 100k will be gone; IG stock is already tanking, have a look on the charts

Absolutely **** that you can pull this.

We can only sell and can no longer buy the stocks that almost everyone is currently looking to buy and hold? Are you serious?

"You are all free to trade in everything! And by that, we mean you are free to trade in exactly only what we decide you can. Which changes from day to day and on a whim, depending how we are feeling at any particular time"

And also noted is the utter silence from anyone at IG since this appalling announcement was made, in any thread in the forum or post here.

Really professional guys, super good look for you. Congrats. I can guarantee you have now made yourself a ghost town in the coming weeks and months. Was it worth it?

Edited February 1, 2021 by Deathers

IG - this is totally disgusting. I'm off your platform now. 

On 30/01/2021 at 13:35, garry2021 said:

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

Here is IG  Linkedin site....I've posted already.... expect it will be removed soon:

 

https://www.linkedin.com/company/igcom/posts/?feedView=all

is there a reason the only options we have to close are day limits? No option to set GTC sell limits? Outrageous behaviour

On 30/01/2021 at 15:09, Whiskyteats said:

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?

If there is not leverage involved then your positions will not liquated with the exeption the underlying security goes bankrupt or negative pricing as was the case with the OIL last year. 

Have IG been decent enough to answer any of these questions.....

By restricting the buying you're putting downward pressure on the share price.

This is the definition of market manipulation.

I’m utterly disgusted by this move to restrict buys in these stocks. It is blatant market manipulation and whether they reverse the decision or not, I will be withdrawing my funds from this brokerage at the earliest possible opportunity (subject to exit from existing open positions). 
 

This is what happens when an opportunity for the little guy to cut a slice a little piece of the pie comes along... the pie gets taken away. These are switch and bait tactics. We sign up knowing the risks. IG is helping the 1% buy time but by then, IG’s reputations will be damaged irreparably. This is the same reason I left Trading 212 and in particular, their stance on cryptos. It was bad enough when IG limited crypto trading to pro accounts but this is the last straw. 
 

Additionally, while IG has been locking users out artificially (again to manipulate the market), I have lost thousands of dollars in opportunities to close strong positions and in slipping into the red on others. So so so disappointed in IG. 

The other platforms restricting trading to only selling mentioned an increase in collateral at clearing being the cause for restriction. Would this collateral still be increased for share dealing with no leverage? The lack of comms from IG is getting frustrating. 

Euroclear is the clearing house that’s IG uses, I’d like to know if they were the ones making demands and forcing restrictions on trading or if it was IG on their own?

Whilst the purpose of Community is to connect like minded clients who want to discuss the financial markets, IG news, and ask questions in the support part of our forum, we will be running a Q&A today from 10:00 until 13:00 GMT. You can submit your questions now on the following post.

30 minutes ago, CharlotteIG said:

Whilst the purpose of Community is to connect like minded clients who want to discuss the financial markets, IG news, and ask questions in the support part of our forum, we will be running a Q&A today from 10:00 until 13:00 GMT. You can submit your questions now on the following post.

Why don't you just answer the questions that were already asked here?