Jump to content

Moving to Another Platform


Recommended Posts

Hello all,

Never have I been so angered by a trading platform as I was by IG’s decision to give one weeks notice of a margin increase to 100% and a month to close position on around 1000 stocks.

This will cost me and I’m sure thousands of other clients thousands of pounds and has massively decreased my trust in the platform. In my case this impacts Petrofac, a fairly well known and quite large UK company. Hardly an AMC or GME. Why on Earth are stocks like that being removed?

I understand the need for risk management on IGs side, of course I do, however this could easily be carried out by stopping the opening of new positions and an an unlimited closing time with the margin requirements kept the same as upon creation.

Instead I am being forced to close my position only a few days after I opened it! 

I call for IG to reverse this decision immediately or I will be withdrawing my funds to another platform. I would call upon you to do the same, even if this does not impact upon you this time, does not mean it won’t be next time.

My faith in IG has sadly gone.

Link to comment

We all have the same issue, they removed a lot of good stocks, not just meme stocks. This is going to be very costly. And the worst thing you can't even know until it's too late if you can trade or not some stocks. The other day I tried to buy CCIV which was NOT in the list and my order was refused, which cost me a ton of money in gains I would have made. IG thinks only of their own bottom line, not ours. 

Link to comment
6 hours ago, Joo said:

We all have the same issue, they removed a lot of good stocks, not just meme stocks. This is going to be very costly. And the worst thing you can't even know until it's too late if you can trade or not some stocks. The other day I tried to buy CCIV which was NOT in the list and my order was refused, which cost me a ton of money in gains I would have made. IG thinks only of their own bottom line, not ours. 

How can it cost you money in gains if you wasn't in a position ? Remember after all you haven't lost anything. Missed opportunity isn't the same as "costing you money". 

Link to comment
On 28/02/2021 at 22:27, Trend1UP said:

How can it cost you money in gains if you wasn't in a position ? Remember after all you haven't lost anything. Missed opportunity isn't the same as "costing you money". 

I clicked buy at 32, 3 min later it was at 42 and my target was around 40. So for me it's lost money as that trade was going to be a really big win. I consider it a lost. You consider it whatever you want, for me if I clicked the trade was made, it was refused by IG but I did the trade, it wasn't just an idea.

Link to comment
On 23/02/2021 at 18:05, SpreadBetter729 said:

Hello all,

Never have I been so angered by a trading platform as I was by IG’s decision to give one weeks notice of a margin increase to 100% and a month to close position on around 1000 stocks.

This will cost me and I’m sure thousands of other clients thousands of pounds and has massively decreased my trust in the platform. In my case this impacts Petrofac, a fairly well known and quite large UK company. Hardly an AMC or GME. Why on Earth are stocks like that being removed?

I understand the need for risk management on IGs side, of course I do, however this could easily be carried out by stopping the opening of new positions and an an unlimited closing time with the margin requirements kept the same as upon creation.

Instead I am being forced to close my position only a few days after I opened it! 

I call for IG to reverse this decision immediately or I will be withdrawing my funds to another platform. I would call upon you to do the same, even if this does not impact upon you this time, does not mean it won’t be next time.

My faith in IG has sadly gone.

As you rightly say, based on their decision making affect on existing customer positions, faith in IG being a decent ethical organisation is shattered - I would never have thought a company who had such a good reputation and project such s customer inclusive approach could **** its loyal customers on this manner; please email their Compliance department if not already done in case of future litigation

  • Like 1
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
      21,632
    • Total Posts
      91,899
    • Total Members
      41,911
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    PBEE
    Joined 25/03/23 10:02
  • Posts

    • Charting the Markets: 24 March The FTSE 100, DAX 40 and Nasdaq 100 slide on renewed banking woes while EUR/USD, EUR/GBP and GBP/USD drop as the US dollar, gold appreciate due to flight-to-quality flows. Crude oil and copper tumble on recession fears.  Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 24 March 2023         This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.  
    • Market Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUDHere are the updates & outlook for multiple instruments in my watchlist.1️⃣ WTI Oil daily time frame️The market is trading in a long term bearish trend .After the last sharp bearish movement, the market is steadily recovering.Ahead, I see a major horizontal supply area.Probabilities are high, that the next bearish wave will initiate from there.2️⃣ EURUSD daily time frameAfter a breakout of a solid daily resistance, the market is preparing for its retest.Watch carefully the underlined zone and look for buying opportunities from there.3️⃣ EURAUD weekly time frameThe pair is currently approaching a weekly horizontal resistance cluster.Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that4️⃣ GBPNZD daily time frameThe pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.Chances will be high that the next bullish wave will initiate quite soon.For Additional confirmation use: Divergence Indicators
    • #CHFJPY: Classic Bearish Setup 🇨🇭🇯🇵   🔻CHFJPY has nicely respected a confluence zone based on a horizontal 4H resistance and a 0.5 retracement of the last bearish impulse.   The price formed a double top pattern on that and broke its neckline.   Probabilities will be high that the pair will drop lower soon. Goals: 141.172 / 140.363  
×
×
  • Create New...