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

[Mcg]

1 hour ago, combi said:

Spread betting is designed for short period?,

This is a huge lie,, I was buying and selling AMC since 2014,, then I decided not to sell just hold.,

However there are contracted positions, some until May, some until September and so on.,

My positions are contracted as DFB, deffo not short period.,

Frustration?, Not really.,

This is not about to be frustrated because something is not going as I wish.,

This is about IG forcing us to close our positions before the contracted date.,

And here, They forcing me/ us into financial loss.,

I am willing to leave my positions open until last dealing date and if until then share price doesnt move up, Ok, my fault.,

Well yeah of course it is. Because you incur the financing costs on a DFB so you’re leaking about 3% per annum on the notional value straight away. And it encourages you to use leverage on a stock with high volatility.. it’s capable of going up ten fold or falling 90%. That sort of drawdown wipes you out if you’re using leverage. Plus as well you have counter party risks which you don’t have when you own the physical asset, something which you seem to be refusing to acknowledge even exist.

 

Why not just buy the stock and forget about it if it’s a long term hold and avoid all these issues. Spread betting is for taking a punt on short term direction 

[Mark333]

Wasn't in AMC or Gamestop but got the message on my account, that IG were manipulating market to sells only, was truly disgusted, under the guise of market volatility! Yeah right they have coped with Financial Crash, surprise US elections, Brexit results etc. 

My suspicion would be someone very important at IG, so board member had an interest with a hedge fund that was short.  

Would like IG at the very least to advise if any board members were short or had any financial connection to hedge funds that did. 

IG silence is deafening were not idiots and know when we are being sold BS! No ones buying their original statement.