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

[2226lee]

Its unfair and should not be blocked. Like RobinHood here comes all the BS why IG has done it. Retail traders should be allowed to make their own choices if we want to buy GME or AMC. Instead like RobinHood IG is making the choice for us. It will be interesting how many customers RobinHood looses now! 

[SirJoe]

15 hours ago, Rakazool said:

Ich war stolz, bei IG zu sein, als ich von Robin Hood hörte.... Ich

Guten Tag Herr Maloussis

 

Leider ist es zu erschreckend sehen wie die IG in diesen struben Zeiten zu Ungunsten der Kleinanleger verhält.

 

Ich habe eine Position bei Nokia die mir ein Verlust einfuhr weil ich nicht gegenshorten konnte und ich dann noch nur Aktien zu 100 % Margin erhalten, also dass ich keine Gelegenheit hat die Verlust eingrenzen. Das waren die vielen Internetvorhaben sehr und verkäufe n. Chr. Warum hat IG nur dieses mal reagiert. Das ist Marktmanipulation im großen Stil Ich gehe davon aus dass Ihr Robinhood ähnlich seid. Wegen dieser Ereignisse wird ein anderer Broker für uns suchen.

 

Freundliche Grüsse

 

Sergio Pompini

[SirJoe]

Guten Tag Herr Maloussis

Leider ist es zu erschreckend sehen wie die IG in diesen struben Zeiten zu Ungunsten der Kleinanleger verhält.

Ich habe eine Position bei Nokia die mir ein Verlust einfuhr weil ich nicht gegenshorten konnte und ich dann noch nur Aktien zu 100 % Margin erhalten, Dass ich keine Gelegenheit hat die Verlust eingrenzen. Warum hat IG nur dieses mal reagiert. Das ist Marktmanipulation im großen Stil Ich gehe aus dass Ihr Robinhood ähnlich seid. Wegen dieser Ereignisse wird andere Broker für uns suchen.

Freundliche Grüsse

Sergio Pompini
 

[mei2020]

10 hours ago, Edwki said:

It's one thing restricting CFDs and spread bets but there is simply no reason why I should not be able to open a fully funded position on a listed stock. After all of the recent outages as well I will be looking for an alternative broker.

totally agree, can understand they want to cover themselves, but not allowing open new position but only sell is aimed to drive the stock prices, rip off their users, and save the hedge funds. it's criminal

[AspiringTard]

Disgusting behavior, considering the fees I thought this place was serious. I'm a recent client and will obviously no longer be back.
That plus the fact that I can't put orders at over 20% trade price, without having to call and pay 40 pounds per order...

Nothing serious about this broker. I hope IG.com considers to revert their decision here, and most importantly do not halt selling. I'm calling first thing tomorrow to place my very expensive orders over the phone.

Unless anyone else knows a different approach I can take here?

[Guest NotGoodEnoughIG]

The platform made it extremely difficult but I did manage to get some AMC shares last week, now I cant buy more but I can sell?

This is obviously unlawful, there is a reasonable chance IG might suffer the same fate as RobinHood and rightfully so.

Definitely going with another broker after this pathetic showing, quite interested in any class actions that might arise.

[Gone]

I've never posted before but obviously will now, the platform made it very difficult to acquire any shares of GME or AMC but I did manage to get some AMC shares.

Now I can only sell and im not allowed to buy more? this is obviously unlawful. already withdrawn funds and will close out my positions shortly. 

This is utterly unacceptable and I would not have supported your business had I known you would sell me and other investors out so quickly.

[WindInTheWillows]

I encourage everyone impacted by this IG decision to disclose this to the Financial Conduct Authority: https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual

It's a straight forward process that will take less than 5 minutes of your time.

 

[JIT13]

Does IG monitor these posts? It would be good to see them reply to these concerns.

Looking at all of the analysis on RobinHood there seems to be two possible causes for them halting these stocks; 1. a conflict of interest or 2. they have a liquidity problem.

Does IG have liquidity issues?

Am looking at Capital.com, does anyone have experience with them? Good or bad? Their advert claims they have no trading blocks in place.

[Guest Anonymous]

Thiefs! They increased the leverage 100% in order to be able to hold opened positions on GME and AMC. This is unbelievable! They are forcing us to close our positions. When it is an opportunity for the traders to make money they are not letting us. Hedge funds big bellies and brokers working together. I will look for my rights and I will contact my lawyer. I will spend every single penny to take those thiefs down. Very dissatisfied with IG, they look like rookies right now. Time to change the broker. PS don't pretend like you care about us IG with all these emails, cut the bs. Thanks! 

[jlz]

30 minutes ago, JIT13 said:

Does IG monitor these posts? It would be good to see them reply to these concerns.

Looking at all of the analysis on RobinHood there seems to be two possible causes for them halting these stocks; 1. a conflict of interest or 2. they have a liquidity problem.

Does IG have liquidity issues?

Am looking at Capital.com, does anyone have experience with them? Good or bad? Their advert claims they have no trading blocks in place.

I am not sure if they are good or not but capital.com are trolling every broker by showing GME on their main page. They must be laughing at the whole thing there. They don't have an API for developers unfortunately but their spreads seem reasonable.

The didn't seem to have any "technical issue" last week. So there is that.

Edited January 31, 2021 by jlz

[Guest Dim]

I have been for 12 years with IG . 12 years building trust and just one email destroy everything . Thank you IG you show the truly colours . 

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 CFD positions open on either stock, please be aware that the margin required to keep them open will increase to that listed below from 3am (AEDT) on Tuesday 2 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%

[12mitko]

I have been for 12 years with IG . 12 years building trust . Just one email destroy everything . IG you show your truly colours.

[Guest Steven]

I’m sure this cannot be legal. Who does one complain to? The FSA? Please hold your stocks in these companies, otherwise things just continue as they have, check this out to get a sense of how the rich play the markets with shorts

https://youtu.be/VMuEis3byY4

 

 

 

[FFS_Daytrader]

I have been for 12 years with IG . 12 years building trust . Just one email destroy everything . IG you show your truly colours.

Same here - they have made a lot of money out of us and now its our turn...they slam the door shut!!!

We need a coordinated effort to push against them but FCA has no teeth to change anything by Monday 4pm!!!

 

[Guest Darley]

Utter market manipulation. Volatility is also created by selling, not just buying. Utter bullcrap, is there a petition somewhere to go against this?

[Guest Peter]

Closing my account after this all ends

[JIT13]

33 minutes ago, jlz said:

I am not sure if they are good or not but capital.com are trolling every broker by showing GME on their main page. They must be laughing at the whole thing there. They don't have an API for developers unfortunately but their spreads seem reasonable.

The didn't seem to have any "technical issue" last week. So there is that.

Thanks JLZ, I think I will open with them and gradually filter over.

[ImperialSlug]

1 hour ago, JIT13 said:

Looking at all of the analysis on RobinHood there seems to be two possible causes for them halting these stocks; 1. a conflict of interest or 2. they have a liquidity problem.

Does IG have liquidity issues?

Exactly the question I came to ask. 

I can understand the Margin issues. But for fully funded cash traders wishing to go long (knowing all the risks and being prepared to lose) - What earthly reason do you have for restricting purchases of shares right now? How is that going to "prioritise the service we give our existing clients"

Its either 1) A conflict of interest, In which case I'll be looking for another platform, or 2) A liquidity problem, in which case I need to take my funds elsewhere. 

Which is it? 1 or 2 ?. 

[Fletch]

Although I have no doubt that there are other brokers who are acting correctly and trading the stock as they should, the problem is that the market has already been artificially skewed by those brokers that have put a stop on trading stocks that they previously traded. Preventing trade in stocks should only happen in extreme circumstances, and should not be down to the whims of individual brokers. 

To be honest this is really just the tip of the iceberg. Market corruption runs deep, as is clear from the fines handed out year after year to the same large banks, hedge funds and dealers 'caught' manipulating the markets. Here I use the term 'caught' very loosely since they don't really even bother trying to hide it - they just happily pay their fines like it has just become some form of tax to allow their criminal actions. 

[WindInTheWillows]

Further 

1 hour ago, WindInTheWillows said:

I encourage everyone impacted by this IG decision to disclose this to the Financial Conduct Authority: https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual

It's a straight forward process that will take less than 5 minutes of your time.

 

I would also encourage everyone to bring to the FCAs attention IGs practice of limiting positions to less than +- 20% of the current stock price. This is simply unacceptable.

[DiamondHandWannaBe]

21 hours ago, sillylittlebugga said:

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

already did, some other brokers have reopened GME trading; will be transferring assets over 

[Johnnn]

1 hour ago, ImperialSlug said:

Exactly the question I came to ask. 

I can understand the Margin issues. But for fully funded cash traders wishing to go long (knowing all the risks and being prepared to lose) - What earthly reason do you have for restricting purchases of shares right now? How is that going to "prioritise the service we give our existing clients"

Its either 1) A conflict of interest, In which case I'll be looking for another platform, or 2) A liquidity problem, in which case I need to take my funds elsewhere. 

Which is it? 1 or 2 ?. 

Totally agree with this, I understand them closing margins as they are under obligation to hold the liquid to pay those out. However there is no reason for them to close cash/share accounts and limit trading. It is the clients money and the client will invest in whatever they want, they are there to execute the trade as directed nothing more. What makes this worse is the client pays them for the privilege. This is absolutely disgusting behaviour from one of the UK's biggest retail platform. Hopefully they realise the mistake and take the restrictions for cash accounts off before the bell on monday.

[Guest CommandoAL]

2 hours ago, WindInTheWillows said:

I encourage everyone impacted by this IG decision to disclose this to the Financial Conduct Authority: https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual

It's a straight forward process that will take less than 5 minutes of your time.

 

Thanks and complaint sent in 

[Guest Rrrye]

Be careful what you wish for. The last thing we need is for regulators to tell IG not to issue us leverage. This will backfire on retail in LT

[jwills97]

Can anyone recomend another broker that has no restriction in place for the UK?

[JonathanMcGrath]

Holy smoke. I only signed up with IG two weeks ago as i was told they had a good reputation and now this. Is it possible they have liquidity issues as i am in no ways cash rich and need to protect my trading funds? 

[FFS_Daytrader]

24 minutes ago, JonathanMcGrath said:

Holy smoke. I only signed up with IG two weeks ago as i was told they had a good reputation and now this. Is it possible they have liquidity issues as i am in no ways cash rich and need to protect my trading funds? 

You only need to worry about the stock listed which have margin increases at 4pm monday - other than that its trading as normal (for how long "normal" remains for other stock who knows!!)

[Guest Jail sentences coming]

Higher ups from this brokerage will be going to Jail if they do not overturn this decision by Monday.  Its criminal activity plain and simple. Also, the amount of customers they will lose if they go through with this will be incredible. Surely they cannot go through with this or it will be the end of IG. Furthermore, the people who own IG will not be able to open another broker due to the criminal activity taking place and the reputational damage to the people in charge. Crazy who made this decision and Its also stupid because do they really think people wont just go to another broker and buy AMC & GME stocks from there. I'm not selling my GME or AMC stock here, I'm just gonna buy more from another broker!

[Guest PhilPhilPhil]

6 hours ago, JIT13 said:

Does IG monitor these posts? It would be good to see them reply to these concerns.

Looking at all of the analysis on RobinHood there seems to be two possible causes for them halting these stocks; 1. a conflict of interest or 2. they have a liquidity problem.

Does IG have liquidity issues?

Am looking at Capital.com, does anyone have experience with them? Good or bad? Their advert claims they have no trading blocks in place.

there could be no other possible reasons at all? 

such as the load issues which have caused the platform to crash 5 days in a row? 

you think its worth stopping trading in 2 stock to protect the other 16,998 markets people are trying to trade? probably....