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Margin requirements changed without warning!!!!


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Yes I received that email. I have a decent GME position with a $25 average. Now with this change I will have to close out some of my position to stay covered, pretty annoying considering how deep itm I am....

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I’m no conspiracy theorist but what the hell? I have positions that I now have to close as I do not want to pay 100%. I also have some GME shares and couldn’t do anything yesterday until toward the end of the trading day on NYSE the system was shocking. I mean I really like IG but what is this bs

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Seems to be clear market manipulation by these brokerage firms. Living proof they are all in support of each other. Horrible!! Just Horrible!! Been on hold to Cust Service for 1hr no one ever answers when trying to get through. I mean what the point in stating you have 24hr support when no one responds

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Guest YouEgg
6 hours ago, Hutcho said:

Anyone else had the email to say margin requirements are changing from monday on certain stocks. For example, SPCE will now need 100% deposit. This also applies to existing open positions. 

If you do not have sufficient funds, positions will be CLOSED OUT! 

Pressumably this is fallout from the reddit/gme saga, but this is sheer market manipulation from IG index, forcing clients to close out positions they wouldnt have otherwise done. 

Care to comment IG??

What on earth are you talking about? This is why it’s a bad idea for people who don’t have a **** clue what they’re talking about (you) to trade on margin. 
 

the stock is easily moving 70% or more a day, both up and down. It’s gapping significantly as well. 
 

out of interest what is your plan if this highly inflated market collapses and gap down well below the entry point of your old positions which are margined at 20% ? You looking forward to getting **** and booking debt? 
 

anyone whose trading a market which is moving 70-150% a day or more on leverage is an absolute egg. 
 

comments and people such as yourself are going to do so much harm to normal traders and you don’t even realise. You’re all on the ‘viva la revolution’ thinking you’re taking down the hedge funds and you have these odd delusions of a market rigged against you. You have NO idea what you’re talking about. 
 

it’s an embarrassment 

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Guest PhilPhilPhil
6 hours ago, Hutcho said:

Anyone else had the email to say margin requirements are changing from monday on certain stocks. For example, SPCE will now need 100% deposit. This also applies to existing open positions. 

If you do not have sufficient funds, positions will be CLOSED OUT! 

Pressumably this is fallout from the reddit/gme saga, but this is sheer market manipulation from IG index, forcing clients to close out positions they wouldnt have otherwise done. 

Care to comment IG??

annoying but sensible. 

also you say this is without warning .. but this is literally the warning? You've been given three days warning?

i also got something saything no new positions on AMC and GME which i think is a bit annoying. If margined at 100% whats the issue? 

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Guest PhilPhilPhil
41 minutes ago, PreciousAsif said:

what will be the 100% margin amount for AMC for 1500 shares bought at 19? and 14? 

can any one please help 

can you remember what margin  (or date) when you opened and then i can show you how it changes? 

Assuming you bought before wednesday when i think things were still 20% you margin then would have been

1500 shares x opening price of 14 x 20% = £4,200

if that changes to 100% margin requirement and assuming that AMC is 14 then 1500 would be 5x that amount, i.e. £21k.

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7 minutes ago, Guest PhilPhilPhil said:

can you remember what margin  (or date) when you opened and then i can show you how it changes? 

Assuming you bought before wednesday when i think things were still 20% you margin then would have been

1500 shares x opening price of 14 x 20% = £4,200

if that changes to 100% margin requirement and assuming that AMC is 14 then 1500 would be 5x that amount, i.e. £21k.

Thanks for the help . yes it was on Wednesday with 20% 1500 shares and Friday another 1500 on 13.25.

 

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I'm new to trading and have only purchased a small number of GME shares, but I did it with my own money that I transfered from my bank. Will I be effected by this margin change or am I safe?

 

Should I sell on Monday and just get out safely, or am I alright to stay as I don't believe I have anything to do with the CFD/Spread Betting.

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7 hours ago, Guest YouEgg said:

What on earth are you talking about? This is why it’s a bad idea for people who don’t have a **** clue what they’re talking about (you) to trade on margin. 
 

the stock is easily moving 70% or more a day, both up and down. It’s gapping significantly as well. 
 

out of interest what is your plan if this highly inflated market collapses and gap down well below the entry point of your old positions which are margined at 20% ? You looking forward to getting **** and booking debt? 
 

anyone whose trading a market which is moving 70-150% a day or more on leverage is an absolute egg. 
 

comments and people such as yourself are going to do so much harm to normal traders and you don’t even realise. You’re all on the ‘viva la revolution’ thinking you’re taking down the hedge funds and you have these odd delusions of a market rigged against you. You have NO idea what you’re talking about. 
 

it’s an embarrassment 

What are "normal traders". Are you saying the rest of us are "abnormal traders", or that the market is for some people and not for others? Or are you saying that if you haven't previously understood how outrageously opaque and tilted the market is to the few, then you don't have a right to ask basic questions that help you understand the deep underbelly that is in operation here. People make mistakes and they learn. They may make expensive mistakes - then they really comprehend why the rich get richer and the poor get poorer. If you don't have helpful answers that benefit the many and help people learn - keep scrolling. It has nothing to do with you. Oh and if you have GME or AMC shares - Diamond hands - HOLD. Find a broker that isn't restricting trade and I'll see you on the moon.

 

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If you bought $1000 worth of GME with $1,000 then you are not on margin.

If you bought $1,000 worth of GME with $250 then you are on the max 25% margin, and you have 3 days to transfer $750 else position will be closed at prevailing price.

The concerted effort by all brokers will probably lead to a mass sell-off which any traders/ investors would have visualized by now.

Note: I am not involved in GME

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  • 3 weeks later...
On 30/01/2021 at 15:22, Guest YouEgg said:

What on earth are you talking about? This is why it’s a bad idea for people who don’t have a **** clue what they’re talking about (you) to trade on margin. 
 

the stock is easily moving 70% or more a day, both up and down. It’s gapping significantly as well. 
 

out of interest what is your plan if this highly inflated market collapses and gap down well below the entry point of your old positions which are margined at 20% ? You looking forward to getting **** and booking debt? 
 

anyone whose trading a market which is moving 70-150% a day or more on leverage is an absolute egg. 
 

comments and people such as yourself are going to do so much harm to normal traders and you don’t even realise. You’re all on the ‘viva la revolution’ thinking you’re taking down the hedge funds and you have these odd delusions of a market rigged against you. You have NO idea what you’re talking about. 
 

it’s an embarrassment 

Wow, you're a pious **** aren't you?

For one don't assume I'm involved in GME, as I'm not. Also, I'm not over leveraged on any of my positions, I've worked out my entry and exit points and calculated the risk. After all, isn't investing just a calculated risk?

I  don't buy into any of the viva la revolution BS. Sadly as we have seen with GME, a lot of young investors have gotten their fingers burned.

My point was that platforms like Robinhood and IG index have moved the goalposts, be it reasonably or unreasonably. It will make some individuals look again at their positions and pehaps sell when they would have otherwise held.  I don't know how you can't say they are manipulating the market.

And as we have just seen, they are happy to turn the forums off to stop people collectively sharing ideas. Other countries might be accused of suppressing freedoms with this kind of behaviour??

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