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"Closing Only"


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I'm new to investing. The special info section of a stock that I want to buy states that it is "Closing Only". What does this mean, and when can I buy the shares? 

When I try to buy shares, I get the message, "IG is not accepting opening trades on this market, you may only place an order to close", as well. 

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6 hours ago, deng said:

I'm new to investing. The special info section of a stock that I want to buy states that it is "Closing Only". What does this mean, and when can I buy the shares? 

When I try to buy shares, I get the message, "IG is not accepting opening trades on this market, you may only place an order to close", as well. 

Hi @deng

Thanks for your post. 

Sometimes stocks go to closing only if: 

The market capitalisation has decreased.

Not enough clients trade the stock. 

 

All the best - MongiIG

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16 hours ago, MongiIG said:

Hi @deng

Thanks for your post. 

Sometimes stocks go to closing only if: 

The market capitalisation has decreased.

Not enough clients trade the stock. 

 

All the best - MongiIG

Does that mean that I cannot currently purchase the stock? 

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This can be nasty trap if you think you are going to hedge some long positions by shorting. 'Closing only' can often happen without warning in extreme market conditions so you wont be able to hedge and you'll have to either ride out the dip or close existing longs at a loss.

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