cryptos mess

[minercracker]

Why can't I close my positions in cryptos? Explain me....where is the support?

[minercracker]

what a support....worst then robinwood

[CharlotteIG]

20 hours ago, minercracker said:

Why can't I close my positions in cryptos? Explain me....where is the support?

On 6 January we restricted UK retail clients from increasing their exposure to cryptocurrencies, in accordance with the ban imposed by the Financial Conduct Authority (FCA) on the sale of crypto derivatives. We have now reached our internal product limit for exposure to cryptocurrencies, and as a result will be removing cryptocurrencies from our offering to UK retail clients. Ahead of this, we will also be increasing margin requirements. Please ensure that you close all your open spread bet and/or CFD positions on cryptocurrencies by no later than 3pm on Wednesday 24 March 2021, from which point we will start to close any positions still open based on our prevailing bid/ask prices. This action is taken in accordance with Term 28(3) of the latest version of the applicable customer agreement governing your account(s) with IG. In addition, from 3pm on Monday 22 February we will be increasing margin requirements for existing positions on cryptocurrencies to 100%. Markets affected are as follows:

■ Bitcoin ■ Bitcoin cash ■ Bitcoin cash/Bitcoin ■ Crypto 10 index ■ EOS ■ Ether ■ Ether/bitcoin ■ Litecoin ■ NEO ■ Stellar

Please note this is a business decision but all feedback regarding cryptos is being noted by myself and passed to our senior team. 

All the best. 

[minercracker]

I'm not a UK client, but a Swiss client, so what is your answer... Explain me.... 

[minercracker]

And why can I go short only without a problem.... 

[lilyblk]

And why can't I close my shorts when they are in profit?!

IG this is looking highly suspicious, and "copy and paste" support responses  regarding UK retail client legislation isn't helpful.

Please do better.

[Adaman12]

I’m in Australia and am having the same problem. I can’t place any orders on crypto, due to internal product limit. What a joke.

[boomertrade]

6 hours ago, lilyblk said:

And why can't I close my shorts when they are in profit?!

IG this is looking highly suspicious, and "copy and paste" support responses  regarding UK retail client legislation isn't helpful.

Please do better.

My short positions are in-the-money and I am being prevented from closing them. 

I am not able to place bets if I don't have margin...why are IG taking my bets if they don't have the margin?

 

[lilyblk]

I managed to close mine by setting limit price targets. What a mess. I’ll be changing platforms.