Jump to content

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


Recommended Posts

22 minutes ago, Fletch said:

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.

I was about to open a 500k account with them.

I have reversed course on the basis of this decision.

We are watching IG! Don’t be on the wrong side of history....

  • Like 3
Link to comment

" It's long past time for the SEC and other financial regulators to wake up and do their jobs - and with a new administration and Democrats running Congress, I intend to make sure they do.""

Warren

I hope this gambling with meme stocks doesent make life harder for the rest of us traders

 

Edited by Kodiak
  • Like 1
Link to comment
Guest RichestHobo
46 minutes ago, FFS_Daytrader said:

Whilst we have a valid argument and can continue for some recourse, the real matter in hand is making sure you have funds in your IG account by 4pm on Monday to cover the 100% margin spike  on stocks highlighted by IG.

How may us have liquidity to cover say GME 32496 @ £1pp or AMC 1324@ £5pp??!!!!

If you have these stocks on IG list - take action before 4pm or watch for huge margin calls and positions being stopped out.

As a fairly new and very casual retail trader - can somebody please explain to me in layman's terms what this actually means for me and my current (modest) holdings in both of these affected markets? 

Link to comment
Guest Johnnybollocks
1 hour ago, markeddy said:

I feel ripped off, I bought a share at a price which has a certain exposure and now after the deal has been made I am told IG are upping the exposure on the share, stopping any positions being opened. First changing exposure is breaching the contract I undertook when opening position and moving the goalposts, shameful and enough to make me close account as trust has been breached here as well as the law of a contract. I look forward to some customer feedback which has been unreliable at best to answer this rubbish issue!

 

 

7 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. 

I already had one foot out of the door, time to transfer all my stocks out. You suck  IG. Shills.

Link to comment
Guest Foltax

I'll be closing my IG account the moment I exit my positions.

So so so disappointed. I've been hyping IG as an honest platform that would never do this. How wrong I was. I feel sick I put others onto IG.

Link to comment

Unfortunately most of the other platforms are doing the same. It’s obviously not an open transparent service leaving the PI very disadvantaged. To allow the PI’s to sell only is clearly, in my opinion, market manipulation. There’s nothing illegal happening to AMC and GME stocks hence the MM and trading platforms should allow trading to continue as normal instead (IMO) assisting the big hedge funds to recoup some losses due to what is essentially a bad bet.

Link to comment

We thought we lived in a capitalist society but this past week proved that's not true. This week has shone a bright light on exactly how rigged and broken the whole market system is. That's the lie they feed us to keep us subservient. "Anyone can make it! All mum and pop investors can make it, if they invest wisely!"

Rich people: "Why don't you just invest your money to make more money, like we do?"

Everyone else: "OK we will do just that! Thanks for the tip!"

Rich people: "Wait... no, not like that! We won't allow it! <commence disgraceful dodgy back room deals all over the world with all dishonorable parties whom are willing to try and prevent it>"

We live in a Plutocracy that wears the dead skin mask of Capitalism.

There is no free market, only what the wealthy desire, and the scraps they deem worth to throw to everyone else.

Burn it. Burn it all down. Make them fear the one thing that absolutely scares them, losing their money.

If nothing else, this week has shone a bright light on exactly how rigged and broken the whole market system is.

Hold.

  • Like 2
Link to comment
Guest Apes. Together. Strong
3 hours ago, Kodiak said:

" It's long past time for the SEC and other financial regulators to wake up and do their jobs - and with a new administration and Democrats running Congress, I intend to make sure they do.""

Warren

I hope this gambling with meme stocks doesent make life harder for the rest of us traders

 

Oh gee. I hope a bunch of people throwing their own hard earned money on the bonfire to make it fairer for all traders dosen't negativly affect the ones that have adapted to a eating a diet of sh!t and lies until they are releived of their money in a criminal act. 

Does anyone have a crayon? I'm hungry.

Link to comment
Guest Retail Trader

I don’t understand why a pause or restriction wouldn’t be applied to both buying AND selling, if there are liquidity or clearinghouse issues? IG?

 Waiting to see how this unfolds over the weekend, but will be pursuing legal action if this decision is not corrected or at least justified beyond “volatility”.

Link to comment

This is such a disgraceful move.

"In order to prioritise the service we give our existing clients, IG is not currently allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment. Clients are still able to close existing positions in these stocks."

I AM an existing client and this is the exact opposite of prioritising service....

Do you really expect your customers to believe this?

This is clearly not the reason at all. IGG traded below 500 in the last session despite being over 900 a week ago, so there is much more going on here. What is IG's stake in this whole situation? Some transparency would be nice but we know that's not going to happen.

Whilst it is not unreasonable to increase required margins to 100% to cater for increased volatility; to prevent purchasing of GME and AMC is only being done for one reason which is to reduce demand.

Not happy.

 

  • Like 2
Link to comment

It's a concern beyond what's happened with these stocks. The next time a stock blows up, am I going to be punished for getting in on the ground floor? The truth is, if I call up and there's a certain amount sat in my account, you'll buy them for me anyway. Nice company.

  • Like 4
Link to comment

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • General Statistics

    • Total Topics
      15,694
    • Total Posts
      75,102
    • Total Members
      63,116
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    TradingBullCow
    Joined 31/07/21 18:56
  • Posts

    • The new CDC Massachusetts study is drawing a lot of attention. The CDC is using it to promote mutant risk but there is a lot more to the story. - 74% of 882 people infected with coronavirus in the US outbreak were fully immunised but only 50% of US are fully vaxed suggests the vaccines are making people more susceptible to infection (which indicates vaccine ADE). - The viral load was found to be the same for the vaccinated and non-vaxed alike which would suggest the vaccine was not offering any protection at all (which indicates vaccine ADE). - Most of the 74% were symptomatic, such a high ratio of symptomatic/unsymptomatic for the delta variant would suggest the vaccine was compromising the immune system making symptoms worse (which indicates vaccine ADE).   Meanwhile, a CDC Internal Document: “Universal masking is essential to reduce transmission of the Delta variant” This is nonsense, masks can only stop droplet borne virus not virus as aerosol. An infected person will breath out 50,000 with each breath and they float on air, travel much more than 2 meters, and around perspex screens, and through the weave of a mask. UK lifts mask mandates at the peak of new cases ... and immediately the curve collapses.   .  
    • Main stream media are waking up to the fact all is not right concerning the vaccines. The fully vaxxed are the majority of new cases. No one is as yet coming out and saying vaccine ADE but all the indications are pointing that way. So far all the blame is being heaped solely on mutants but that can't be the whole story. Vaccine ADE enhances the virus while compromising the immune system. CNN @CNN ''Vaccination alone won't stop the rise of variants and in fact could push the evolution of strains that evade their protection, researchers warned.''  Vaccination is not enough by itself to stop the spread of variants, study finds - CNN    'Study finds 74% of outbreak sufferers were fully vaccinated'. (US is only 50% vaxed) Outbreak of SARS-CoV-2 Infections, Including COVID-19 Vaccine Breakthrough Infections, Associated with Large Public Gatherings — Barnstable County, Massachusetts, July 2021 | MMWR (cdc.gov) ('Breakthrough infections'' is a term meaning infections in vaccinated people)   CNBC @CNBC 'CDC says 74% of people infected in Massachusetts Covid outbreak were fully vaccinated.' JUST IN - 'More than 110,000 breakthrough cases in the US' (Bloomberg)   And from SAGE yesterday evening; ''JUST IN - SAGE, the UK's health "expert panel," warns next Covid "super mutant variant" could kill up to one in three people, and the "vaccine roll-out may even speed up mutant strain's emergence." (Daily Mail) The last half of that headline is a clear indication they at least suspect vaccine ADE. SAGE: Next Covid variant could kill one in three people | Daily Mail Online   Safe vaccines, the ones that completed their long term trials before roll out don't cause 'super mutants'. We are starting to see why Dr Robert Malone was calling for the vax programme to be stopped immediately in the video posted above.   Pfizer now saying vaccines will not be enough so as well as perpetual booster jabs they are developing oral antivirals. (oh - like Ivermectin you mean - can't use that, it only cost a few cents) Pfizer Inc.  @pfizer  Alongside vaccines, success against #COVID19 will likely require #antiviral treatments for those who contract the virus. We’ve started a Phase 2/3 trial to evaluate a potential oral therapy that will enroll over 2,000 participants infected with SARS-CoV-2:   So the vaccines don't actually work then except to incapacitate your immune system and create super mutants.   And in another new twist Social Media are quietly starting to remove the warnings they habitually place on posts that might, even slightly, be construed as anti-vax. 🤔   .edit bad pic crop.  
    • OK - I think I'm going to leave this thread here for the time being - its covered a lot I want to end it on a very very advanced concept - Gann related obviously! Gann was light years ahead of his time, the below is going to prove this fact, his methods were esoteric and he was beaten to these laws of the world by the Egyptians (you'll see the shape in the images below) The markets are not doing what you think they are doing - there's forces you are not aware of at work behind the scenes driving prices on ALL markets This post is to get you thinking - I'm not making any claims, but the other day on a EURUSD thread I did highlight a buying zone of which price has "suddenly" rallied upwards from! In the chart below we'll look at the 4  points shown on the chart 1-4, because these have been recent major swing points - I want to show you what Gann was thinking and talking about over 100 years ago - I will keep it as simple as possible This is Gann's "Square of 9" - look at the shape of it on a top down view - its basically the Pyramids! (TIP: Imagine pulling the centre number shown up towards you to visualise the concept) Basically this is a square root calculator - as you go up or down levels around the sq or 9 you going through increments of square root %'s - there are major intersections of the square and those are shown on the images as the yellow painted sections - north, south, east, west etc - see where price lands on those lines around the major turns I think we can agree totally, from this entire thread and what I'm showing you below that Gann and his methods have massive significance on the markets and as traders that means profiting from.  This is EURUSD Daily Swing High #1: OK we get a major swing high price of 12350, this gets inputted into the Gann sq or 9 as the CENTER/PEAK of the square - the calculator then generates all the levels around that price according to the maths of the sq of 9 - see chart We have NO idea prior which levels "might" cause resistance or support and we don't know when either - what we DO know is that the major intersection in YELLOW "could" do something - the thing is we are aware of these levels well in advance and before price gets near! So from the top at 12350, prices falls to a low of 11952, then rallies to 12243, then falls to 11835, rallies then falls into the swing low #2 of 11704 I've highlighted the relevant prices on the Gann sq of 9 below for you - EACH swing turn point was 2 pips - 2 pips off the yellow highlighted price levels - take a minute to think about that 2 pips from price levels worked out yonks in advance by a method of a trader from over 100 years ago, that he discovered from studying the Egyptians who built temples to the fact thousands of years prior! OK coincidence? Coincidence - I think not, here's the next chart of the swing UP from 2-3 We have a LOW of 11704, rally to 12150, low of 11986 and then the swing high #3 at price level 12266 Again we have price finding support and resistance at price levels within pips of the major intersections on the gann sq of 9 OK last swing 3-4 High of 12266, low 11847, high 11975, low of 11805 I don't think I need to say anymore From 11805 here's the square of nine numbers to which the market might find support/resistance from (Remember the YELLOW lines are the major points to watch) - IF 11805 is the swing LOW The square of Nine is more deep than this - the positioning can be important too - for instance 1st gann sq of nine chart above in the post, follow the numbering from the 11835 LOW around the square until you get to the swing 2 low of 11704 - its moved out to the next level but on the same line sequence as the low and up nearly opposite the first low of 11952 and within pips of a major intersection  I can tell you that most markets adhere to the square of Nine - however, there's a huge amount of things to look at, consider and apply so we won't go any further into this As with ANY method, do as I've done, test it, if you understand it and it fails, dump it - I could go on showing coincidence after coincidence of the square of nine - I just wanted to show you that there's reasons markets turn at specific points "out of the blue" - you'll get people mentioned support and resistance as throw away comments (usually Fibonacci levels that they don't really understand!)  Successful Trading THT  
×
×
  • Create New...