IG has shown it's true colours and is restricting BUYING of AMC and GME

[ChristianMike]

Yet they allow you to SELL and close out your positions. What will that do to the overall market price of AMC and GME? Well obviously if we can only sell the the price will go down down, allowing these greedy hedge funds to exit their short positions without taking too much of a hit.

You have 2 choices, 1. Sell your shares back to the hedges, just like they want, or 2. Hold and watch them wet the bed, eventually having to buy at the price WE SET and us little guys make some money. 

Also, leave IG they don't deserve your business after this blatant act of market manipulation. 

[ChristianMike]

Would love to hear from IG on this. If it's a clearing house issue why not restrict BOTH BUYING AND SELLING, wait for the clearing house to catch up, tap credit whatever needs to be done. But only allowing selling??? come on.

A lot of people are going to lose money because of actions like this.

[sillylittlebugga]

It's pretty obvious who they are looking out for and it's not their customers. Time to shop around.

[PaulCz]

Agreed. I naively thought IG would be on the right side here. You know, given the fact we are paying for the privilege. I hope they get what they deserve for clear and transparent market manipulation.

 

[PHOENIX99]

We need a proper explanation. 

[DoloressEd]

I wonder if there will be a flood of complaints to the Financial Ombudsman /FCA, there should be !

[Guest Moving from IG.]

Can't agree more. High basic commission, non existence customer service, app crashed for few days in a row.

[mei2020]

50 minutes ago, ChristianMike said:

Would love to hear from IG on this. If it's a clearing house issue why not restrict BOTH BUYING AND SELLING, wait for the clearing house to catch up, tap credit whatever needs to be done. But only allowing selling??? come on.

A lot of people are going to lose money because of actions like this.

we should all ask ig to compensate our loss because of their unilateral unlawful restriction

[PHOENIX99]

1 minute ago, mei2020 said:

we should all ask ig to compensate our loss because of their unilateral unlawful restriction

They should give all users a voucher for lost trading time which can be exchanged for shares on any exchange. 

[Twerkingcat]

Trading212 organized on reddit and put together some great material on next steps. Highly recommend read: https://www.reddit.com/r/Trading212ActionGroup/comments/l8lidm/follow_all_these_steps/

[ChristianMike]

12 minutes ago, Twerkingcat said:

Trading212 organized on reddit and put together some great material on next steps. Highly recommend read: https://www.reddit.com/r/Trading212ActionGroup/comments/l8lidm/follow_all_these_steps/

That's great. If IG don't go back on their announcement today I think we should follow the same steps for IG.

[PaulCz]

33 minutes ago, DoloressEd said:

I wonder if there will be a flood of complaints to the Financial Ombudsman /FCA, there should be !

Well, there is at least one in their inbox. I would encourage everyone one affected to also report IG to the FCA.

[Rakazool]

I was proud to be with IG when I heard about Robin Hood.... 

[FFS_Daytrader]

I agree to all the comments and also felt frustrated the platform online & App "conveniently"  went offline for 3 days on the trot exactly when the US opened.

We all know that Robinhood have had to reverse their restrictions/limits on deemed volatile stock so why has IG now decide to restrict retail investors - will probably get the same BS about protecting retail investors!!!

I am a bit pissed off with this constant rule changes against retail investors - EC ruling/higher margins/no Crypto dealing/restricted trading/even higher margins of 100% to name a few!!!!!!!!!!!!!1

I am looking for a new broker who will allow more fair dealing plus I want premarket trading and prepaid to pay a higher price for a better service!!

Does anybody know a broker who offers the above? is IB anygood?

[NotHappy]

I'd also like recommendations on a new broker that respects its investors and doesn't pull shenanigans on them.

[mei2020]

1 hour ago, PHOENIX99 said:

They should give all users a voucher for lost trading time which can be exchanged for shares on any exchange. 

also the huge loss they caused to their customers by imposing these unlawful restrictions to drive stock price down and forcing small individuals to sell at loss, in order to help these WS hedge funds  

[Twerkingcat]

I complained to BBC watchdog: https://www.bbc.co.uk/send/u23123288?ptrt=https://www.bbc.co.uk/programmes/b006mg74

Historically media attention had greatest multiplier

[mei2020]

46 minutes ago, Twerkingcat said:

I complained to BBC watchdog: https://www.bbc.co.uk/send/u23123288?ptrt=https://www.bbc.co.uk/programmes/b006mg74

Historically media attention had greatest multiplier

Just sent a complain to BBC too....

[Guest Daniel Edwards]

3 minutes ago, mei2020 said:

Just sent a complain to BBC too....

 

[MTX]

This is out of order. I thought by using a broker with fees, that I would have a professional level of service at all times. What happened to a free market?

[Guest Omnishort]

Very disappointing, and I will movie to another site once I find a good alternative. They actively despise and loathe their customers, just as I now actively despise and loathe them. Long term I will do my best to make people around me switch to other sites as well.

this restriction might also be illegal collusion and market manipulation on their part, and I will happily join a class action lawsuit.

[Guest AS101]

Haven't and won't trade in GME, but I'm incensed by this. I'm closing my account (not that they make it easy..) - there are plenty of other brokerages. Very disappointing, I liked IG. 

[Whisper]

Free Market! ? there wasn't any free market at any given moment in history. used to be hidden.

now its announced in public. they are bigger than the legal system!

Edited January 30, 2021 by Whisper

[Kingcroft]

Not best pleased, let’s keep hold , 💎🙌 all the way.

[Guest Deck]

4 hours ago, ChristianMike said:

Yet they allow you to SELL and close out your positions. What will that do to the overall market price of AMC and GME? Well obviously if we can only sell the the price will go down down, allowing these greedy hedge funds to exit their short positions without taking too much of a hit.

You have 2 choices, 1. Sell your shares back to the hedges, just like they want, or 2. Hold and watch them wet the bed, eventually having to buy at the price WE SET and us little guys make some money. 

Also, leave IG they don't deserve your business after this blatant act of market manipulation. 

This is truly disgusting behaviour to protect your hedge fund buddies. Shocking. I hope IG get investigated by the FCA

[NotHappy]

1 hour ago, mei2020 said:

Just sent a complain to BBC too....

They published an article on this a couple of hours ago, well done.

[Guest Disgusting behavior.]

Disgusting behaviour from IG. Limiting stocks people bought with their own hard earned money. I am not borrowing stocks like some companies out that, I am buying it with my own hard earned money. 

[EmilyH]

5 hours ago, ChristianMike said:

Yet they allow you to SELL and close out your positions. What will that do to the overall market price of AMC and GME? Well obviously if we can only sell the the price will go down down, allowing these greedy hedge funds to exit their short positions without taking too much of a hit.

You have 2 choices, 1. Sell your shares back to the hedges, just like they want, or 2. Hold and watch them wet the bed, eventually having to buy at the price WE SET and us little guys make some money. 

Also, leave IG they don't deserve your business after this blatant act of market manipulation. 

This is blatant market manipulation as you’ve said!!

I thought IG were one of the good ones (compared to IBKR who are bad nuts), and was literally just about to transfer a 500k trading account to them!

Edited January 30, 2021 by EmilyH
Removed bad language.

[EmilyH]

3 hours ago, FFS_Daytrader said:

I agree to all the comments and also felt frustrated the platform online & App "conveniently"  went offline for 3 days on the trot exactly when the US opened.

We all know that Robinhood have had to reverse their restrictions/limits on deemed volatile stock so why has IG now decide to restrict retail investors - will probably get the same BS about protecting retail investors!!!

I am a bit pissed off with this constant rule changes against retail investors - EC ruling/higher margins/no Crypto dealing/restricted trading/even higher margins of 100% to name a few!!!!!!!!!!!!!1

I am looking for a new broker who will allow more fair dealing plus I want premarket trading and prepaid to pay a higher price for a better service!!

Does anybody know a broker who offers the above? is IB anygood?

IB are absolute criminals.

Can you believe what you’re hearing here???

 

[Fletch]

I don't personally hold shares in either entity, but it does make you wonder where it will end with brokers appearing to protect their friends' by halting trading on certain stocks (or at least halting trading for the hoi polloi, but letting the trough-feeding vermin continue regardless). Let's face it, such actions benefit nobody except those making billions off of other peoples' property. It really doesn't look good IG, and I will be looking carefully if I really want to continue using you as a broker.