Jump to content

Closing Only


Recommended Posts

10 minutes ago, StormChaser said:

The affected instruments are mainly illiquid AIM stocks.  No reason for an index like SA40 to be there.

Is there a way to be sure ?

These people are not answering there phones and I am in a mess.

I am losing my marbles here.

Sorry to be a nuisance.

Link to comment

I am furious. I have been a client for many years, but I have just lost all faith in IG. Hikma is on the list and is a FTSE100 company.. How do I know they won’t do this to any other position I open?

There are large spreads on many AIM companies 5hat I hold, so there will be a significant cost in closing my spread bets and buying shares. Why not just stop new positions being opened? 

I am OK with Increasing the margin to 100%, but do feel that more notice should have been given - 4 days is ridiculous, and that’s assuming you saw the email immediately. I wouldn’t have opened a few positions in the last month had I known about this then, and I am now going to have to close these as well.

 For existing clients, this action makes a mockery of IG’s stated commitment to be on the clients’ side, and helping them to trade profitably.

  • Like 1
Link to comment
7 minutes ago, Fingersxxd said:

So I've just discovered that some clients were contacted in advance of the email notifications. This is clearly wrong as they would have had advance warning to sell at potentially better prices than everyone else and certainly before some of the forced selling.

I think everything about this is wrong, from 100% margin in the first place to how the 'rollout' has been timed and communicated, and then lack of acknowledgement from IG that there is serious push back.

  • Like 2
Link to comment

I just tried to buy a stock for 15000 shares at 32, now it's trading for 38 ! That's a lot of money lost for me ! This stock that I was trading just last week ! I'm moving to another broker. What's the point in having stocks in your interface if I can't buy them ??

Link to comment
4 minutes ago, Joo said:

I just tried to buy a stock for 15000 shares at 32, now it's trading for 38 ! That's a lot of money lost for me ! This stock that I was trading just last week ! I'm moving to another broker. What's the point in having stocks in your interface if I can't buy them ??

Strictly speaking this is an entirely different sort of problem.  There are reasons why it could happen.  If you did buy, you didn't lose money on it right?  Probably want a new forum topic for this.

  • Like 1
Link to comment
Just now, StormChaser said:

Strictly speaking this is an entirely different sort of problem.  There are reasons why it could happen.  If you did buy, you didn't lose money on it right?  Probably want a new forum topic for this.

They didn't let me buy it and it's up now, which means I lost the money I was supposed to make.

This same stock I traded last week on which I made a quarter million is now not tradable.

They removed the good stocks but they are still visible on the interface, which means we can't know what we can trade or not, I was just waiting to click the button at the right time on that one.

Link to comment
1 minute ago, Joo said:

They didn't let me buy it and it's up now, which means I lost the money I was supposed to make.

This same stock I traded last week on which I made a quarter million is now not tradable.

They removed the good stocks but they are still visible on the interface, which means we can't know what we can trade or not, I was just waiting to click the button at the right time on that one.

The lack of visability on closing markets in the platform is a problem and could be addressed better.

However, this is a different problem. It equally could have gone down and you could have lost money. Hindsight is great. However you're not being forced into closing a position at very short notice.

Link to comment
18 minutes ago, Fingersxxd said:

The lack of visability on closing markets in the platform is a problem and could be addressed better.

However, this is a different problem. It equally could have gone down and you could have lost money. Hindsight is great. However you're not being forced into closing a position at very short notice.

I'm forced on all my other positions ! Now that stock is at 42, I sent my order at 32, 15000 shares ! That's a ton of money lost because of restrictions that were not here last week.

Link to comment
1 hour ago, Fingersxxd said:

Vote with your feet. I've just closed out my remaining positions and requested withdrawal of my funds. I'll be moving to another provider.

Who would you recommend?

I main reason that I use IG as I like the platform.

Thanks

Link to comment
On 21/02/2021 at 16:11, CharlotteIG said:

Please note this is a business decision but all responses are being noted by myself and passed to our senior team. Sorry again for the inconvenience.

 

I understand this “business decision” but don’t understand why you accept my spreads but then prevent me from closing them when they’re in the money.

if you don’t have the margin then don’t take my bet, the same way I can’t place a bet with you if I don’t have the margin?

Link to comment
8 minutes ago, Mazz99 said:

Who would you recommend?

I main reason that I use IG as I like the platform.

Thanks

I've been moving away from using trading platform for research/technical analysis for a while now. The end game is to develop a suite of tools which are account independant. Most platforms offer a decent UI for buying/selling, it's more a case of access to markets and fee structures. Making competitor recommendations on here is likely to get posts removed, so i'll refrain, but there are lots of comparisons out there.

Link to comment
6 minutes ago, eurochez said:

I understand this “business decision” but don’t understand why you accept my spreads but then prevent me from closing them when they’re in the money.

if you don’t have the margin then don’t take my bet, the same way I can’t place a bet with you if I don’t have the margin?

Why can't you close ? Closing has never been restricted. When the thing is not working I close with a stop loss.

Link to comment
1 hour ago, Joo said:

Why can't you close ? Closing has never been restricted. When the thing is not working I close with a stop loss.

The platform does not let me close my short position because presumably IG is too "out of the money" to let me cash in with that much profit. I was around £600 in the black and it wouldn't let me close my position until my gain was closer to £150...

 

IMG_8859 (1).jpeg

Edited by eurochez
Link to comment
1 minute ago, eurochez said:

The platform does not let me close my short position because presumably IG is too "out of the money" to let me cash in with that much profit. I was around £600 in the black and it wouldn't let me close my position until my gain was closer to £150...

 

IMG_8859 (1).jpeg

IG doesn't care about 150 pounds, I made a quarter million in one day the other day and I closed the trade in deep profit. Your trade ticket says buy to open, which means the system thinks you are trying to BUY a stock you don't have. Close with a stop loss.

Link to comment
2 minutes ago, eurochez said:

The platform does not let me close my short position because presumably IG is too "out of the money" to let me cash in with that much profit. I was around £600 in the black and it wouldn't let me close my position until my gain was closer to £150...

 

IMG_8859 (1).jpeg

Surely if it was an attempt at BUY TO OPEN, that was for a net new long position, not for the closing of a short position?

Link to comment
4 minutes ago, StormChaser said:

Surely if it was an attempt at BUY TO OPEN, that was for a net new long position, not for the closing of a short position?

I definitely wasn't opening a new position - I was repeatedly clicking on the CLOSE button on my short position. I'll try and do a screen-grab next time to demonstrate (if it happens again)!

Link to comment
5 minutes ago, eurochez said:

I definitely wasn't opening a new position - I was repeatedly clicking on the CLOSE button on my short position. I'll try and do a screen-grab next time to demonstrate (if it happens again)!

Refresh, that could mean the position is already closed but you still see it.

Link to comment
1 minute ago, Joo said:

Refresh, that could mean the position is already closed but you still see it.

But the trade remained open in the platform and I was eventually able to close it (about 45 minutes later when the market had moved slightly against me) and I received instant email confirmation of the close.

I'll try and do a screen recording the next time this happens...thanks for all of your input @Joo and @StormChaser.

Link to comment
Guest zjstrade
6 hours ago, eurochez said:

But the trade remained open in the platform and I was eventually able to close it (about 45 minutes later when the market had moved slightly against me) and I received instant email confirmation of the close.

I'll try and do a screen recording the next time this happens...thanks for all of your input @Joo and @StormChaser.

I have experienced this too-- just so you know you aren't crazy. 

Link to comment
1 hour ago, Mazz99 said:

For the record. I have still not had any communication from IG about this !!!!

I wonder is that because you don't have positions in any of the affected companies.  The list is here:

https://www.ig.com/content/dam/publicsites/igcom/uk/210219_IGM_UK_Affected%20Markets%20-%20Non%20TT.pdf

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • General Statistics

    • Total Topics
      21,310
    • Total Posts
      90,974
    • Total Members
      41,442
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    TeeKay
    Joined 09/02/23 08:23
  • Posts

    • Gold on the rise, as Brent crude and natural gas show signs of impending weakness Ongoing trends look likely to continue, with gold grinding higher as Brent crude and natural gas show signs of potential impending weakness. Source: Bloomberg      Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 09 February 2023  Gold grinds higher after collapse into trendline support Gold ended last week with a bang as price collapsed into a fresh four-week low. However, despite growing calls for a reversal across a number of asset classes, this week has seen equity markets and the dollar turn back in the direction of their prevailing trend. Given the close correlation between the dollar and gold, this signals the potential for another move higher for precious metals if money does not flow into the dollar. For gold, the current grind higher looks likely to continue, with a break back below the recent low of $1861 required to create a fresh bearish outlook. Source: ProRealTime Brent crude rebound takes price back up towards descending trendline Brent crude has spent much of the week regaining lost ground following a bearish turn that saw $10 sliced off the price in the space of a fortnight. The wider trend does remain bearish, with the descending trendline and Fibonacci resistance levels bringing the potential for another bearish turn before long. With price currently at the 61.8% retracement ($85.20), there is a good chance we see the bears come into play before long. Watch for a move through 80 on the stochastic to signal a bearish turn from a momentum perspective. To the upside, we would need to see a push up through the $89.01 resistance level to bring confidence of a more protracted bullish rebound. Source: ProRealTime Natural gas turns lower from Fibonacci resistance Natural gas has turned lower once again after a rebound in the early part of the week. This is a market that has been a consistent performer for the bears, with the relatively balmy European winter ensuring that storage levels remain well topped up throughout the drawdown period of the year. While we did see a push into the 76.4% Fibonacci level on Tuesday, price has been reversing lower in line with the wider bearish trend. With a very consistent bearish trend still in play, we would need to see a push up through the $2.789 swing-high to bring about a more positive outlook. Until then, further downside looks likely. Source: ProRealTime
    • ASX 200 afternoon report: 9th of February 2023 Find out all the latest information on the ASX 200 market. Updated as of 9th February, 3.00 pm AEDT.   Source: Bloomberg   Indices ASX Coal Dividend S&P/ASX 200 Interest rate  Tony Sycamore | Market Analyst, Australia | Publication date: Thursday 09 February 2023  The ASX 200 trades 43 points (-0.57%) lower at 7487 at 3.00 pm Sydney time. The ASX 200 has slumped today, taking its lead from a fall on Wall Street, as Fed Speakers hit the wires to beat the hawkish drums and remind markets that higher rates will be required for longer to bring down inflation. IT sector The tech sector experienced losses today, led by Google. Google fell 7.44% after its new AI intelligence chatbot Bard underwhelmed Sezzle fell 8.53% ZIP fell 5.91% Megaport fell 5.65% as it elected not to pay a dividend Novonix fell 4.72% to $1.72. AGL fell 11% after reporting a loss of $ 1.1 billion for the first half of the year. It also slashed guidance and its interim dividend to 8c per share. Elsewhere, Real Estate heavyweight Mirvac slumped 5% to $2.28 as wet weather, interest rate hikes, and labour shortages limited its first-half earnings. Financial sector The pressure of this week’s RBA rate hike and intensification in the fight for new deposits has hada negative effect on all banks apart from ANZ. ANZ has added 0.23% to $23.85 after its upbeat trading update NAB fell 0.8% to $31.80 Westpac fell 0.36% to $23.82 CBA fell 0.4% to $109.89. Mining sector The 40% fall in the price of coal out of Newcastle since the start of the year continues to weigh on the coal miners. Whitehaven coal fell 5.62% to $8.06 New Hope fell 4.9% to $5.81 Yancoal fell 4.62% to $5.87 Coronado Coal fell 4.65% Fortescue Metals added 0.89% to $22.68 BHP added 0.02% to $48.13 Rio Tinto fell 0.4% to $123.65. Technical analysis We view the ASX 200 as being stretched to the upside and overbought after five straight weeks of gains. For the Elliott Wave followers, there is a five-wave advance from the October 6411 low to this week’s 7567.7 high. All of which warn that a pullback is looming. A break of support at 7460/50 (coming from recent lows) would indicate that a medium-term high is in place and that a corrective pullback is underway. We continue to favour trimming longs ahead of the bull market 7632 high and looking to either buy a sustained break of the 7632 high or a pullback into the 7200/7000 support area. ASX 200 daily chart     Source: TradingView. The figures stated are as of February 9th, 2023. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.
    • FTSE 100, DAX and S&P 500 make fresh push higher Indices have had a mixed week, but are once again attempting to make upward progress. Source: Bloomberg      Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 09 February 2023  FTSE 100 moves above 7900 again The index is making a new attempt to push on above 7900 today, having struggled around this level yesterday. The index clearly has the psychological 8000 level in focus, as it makes a move to build on the bounce from the late January support zone above 7700. So long as it holds above this level the bullish view remains in place, with sellers needing a move below 7700 to suggest a short-term pullback is in play. Source: ProRealTime DAX edges higher After the weakness on Monday and Tuesday the index has pushed back above 15,500. Additional gains continue to target 15,600, and from there the 1 February 2022 high at 15,715 comes into view. The index does remain overextended from the 50-day simple moving average (SMA), and today’s initial gains have widened the gap. But for the moment this is more of a warning to buyers not to chase this market higher, and at present there is little sign of any serious pullback developing. That would require a move below 15,000 at the least. Source: ProRealTime S&P 500 stuck in a narrow range The index has found it impossible to establish a clear direction this week, but overall the buyers still seem to have the upper hand. The consolidation for the week so far means that we await a move above 4200 to establish a fresh bullish thrust in price terms, potentially opening the way to the August highs above 4300. Meanwhile, a reversal below 4100 would provide the bears with some hope of a short-term pullback, though as long as the price holds above the 200-day SMA the outlook will continue to lean broadly bullish. Source: ProRealTime
×
×
  • Create New...