Bitcoin, Ethereum and bitcoin cash

[Servian]

Can someone please explain why these markets no longer show in the platform?? I have open positions but they have been removed from my watchlist and also in the popular markets page!!

[Guest biagio]

same thing has happened to me except I had just closed my positions. now it appears as if the only crypto trade will be litecoin "coming soon". the others do not appear on any search.

i think we should be told what is going on.

[Guest Hk0355633]

This is very bad. My long position is auto closed and margin is returned without Profit. Totally lose faith in the platform.

[Servian]

Mine are still open at the moment

[GM001]

So this was yesterday's news http://www.smh.com.au/business/bitcoin-tensions-rise-as-investors-claim-banks-freezing-their-accounts-20171229-p4yy3z.html yet all of you remained oblivious to the tulip bubble that is bitchops...but you would have all taken long positions when btc was sub $10k so what's the problem?

[Guest Buttchy]

I'm appalled! My position automatically closed and I was at $700 USD profit. All wiped out all of a sudden at 5.53pm SGT. What's going on IG?

[Guest simonh78]

mine is the same.  ether closed out at 429 (entry price).  cost me $5k

 

this can't be right - must have been a technical issue

 

 

[Guest simonh78]

the problem is the price of ether has gone up today, and our positions have been closed out @ 60% of that price

[Guest ericleewh]

i am having the same problem. they cannot close everything at cost...

[Stefano]

Hi All
All my long positions with Bitcoin, Bitcoin Cash, Ether have been closed by the "Dealer" today at 9:48. All the profits have disappeared and not calculated in my equity. No clear reason or communication.
Does anybody know what's going on?
Stefano

[Guest 3hourdrive]

Same here, closed without warning. Ive also tried their '24 hour' help desk and it is closed. I will not be using this platform any longer unless my crypto profits are restored to my account

[Stefano]

Do they have the right to make the positions vanished?

[Guest eonsmile]

Same here! I just opened IG last week and now I lost all my confidence in this platform....

[Stefano]

The problem is that all profits have disappeared (and not the fees).

[Guest 3hourdrive]

the only info I can find is here

 

https://www.ig.com/au/bitcoin-product-details

 

I suspect they have had to exercise their right to delete existing client positions, quoted here;

 

"we may delete any positions that had previously been created at no value on client accounts. We will take steps to notify you when we have taken this action."

[Stefano]

I suspected it.

 

Easy game for them.

[Guest 3hourdrive]

To be quite frank its *****. Ive been using IG markets for 10 years and this has never happened in my experience.

[Guest simonh78]

can't be. surely

 

no one will be using them if they do this....

 

nice if someone from ig could give some information

[Stefano]

...to reply to "3hoursdrive" (with thanks)

that statement of closing positions at their discretion is referred to the hard fork.

 

"If the hard fork results in a viable second cryptocurrency, we may create an equivalent position on client accounts to reflect this. However this action is at our absolute discretion, and we will have no obligation to do so. If, and when, the second cryptocurrency is tradeable on a major exchange, we will endeavour to represent that value. We’ll do this either by making the product available to close based on the valuation on that venue, or by booking a cash adjustment on client accounts. If, within a reasonable timeframe, the second currency does not become tradeable on major exchanges or is otherwise deemed not to be viable as a currency (for example, it is not mined), we may delete any positions that had previously been created at no value on client accounts. We will take steps to notify you when we have taken this action."

[bn]

****. They just unauthorise closed my BTC long position. Wipe all my profits to Zero. Try to contact them. All closed. Is this even legal?

[Guest Buttchy]

Looks like a world wide technical issue. If IG does this, I.e. Close positions due to their own discretion, they would have lost global recognition and this would be detrimental to their future business. I do hope someone from the team can address this issue for us.

[Guest stuff123]

I would love to know what's going on also. Now down over 2k USD

[bn]

All this happened today 1/1/2018 at odd time 20:53 EST by Dealer. When i tried to contact. Non available. All their cryptos on longer appeared on app..???

[Guest 3hourdrive]

Thanks Stefano. I didnt quite understand how the fork scenario can work but its the only basis which I can find where IG would be able to close client positions. Perhaps they are temporarily adjusting their positions and I hope that client positions will be restored once the markets are reopened. IG please explain.

[Guest DANNYM]

Same problem here. Has anyone verified whether the overnight financing costs have been given back?

[griffer]

is it not to do with IG no longer making a market in certain positions:

 

did you get this email?

 

 

Changes to non-USD cryptocurrency pairs

Dear Mr.  With effect from Monday 1 January we’ll no longer offer the following non-USD cryptocurrency markets:

• Bitcoin (GBP) • Bitcoin (EUR) • Bitcoin Cash (GBP) • Bitcoin Gold (GBP) • Bitcoin Gold (EUR)

What will happen to my positions?

If you have any positions in these markets that remain open after 10pm UK time on Monday 1 January, we’ll re-book them to a USD pair.  Your new position will be in the equivalent size and price to your current position, so you maintain the same level of exposure, as illustrated in the example below. Where applicable, positions will be converted basis IG’s respective FX mid-price at 10pm on Monday 1 January.  Any working orders for non-USD cryptocurrency pairs will also be migrated in the same way. This change means you’ll be able to trade all cryptocurrencies seven days a week, with our recently introduced weekend trading facility.

Example

Current position New position* Buy £25 per point of Bitcoin (GBP)contract from a price of 10000. Non-guaranteed stop level @ 9500 Limit level @ 20000 Exposure = £25 x 10000 = £250,000. Buy £18.7266 per point of Bitcoin (USD) contract from a price of 13350. Non-guaranteed stop level @ 12682.5 Limit level @ 26700 Exposure = £18.7266 x 13350 = £250,000.

*Conversion using GBP/USD rate of 1.335 for illustrative purposes.

Please manage your positions with these changes in mind. Please note if you are trading via the MT4 platform this may affect your Expert Advisor/automated strategy. Do check your code to see if this applies to you. If you are unsure then you may want to consider disabling your strategy over this period.

We're here to help

If you have any questions about this or need help with your account, our highly trained client services team is available 24 hours a day from 8am Saturday to 10pm Friday.

Kind regards  IG

[Stefano]

Thanks grifter

All my positions were in USD, but this may explain that all this is due to a technical issue.

[Guest Ashy]

I didn't get that email and just searched. When did you receive it.

 

I've open positions on usd bitcoin still showing as open but not in any searches or watch lists. Assume above implies some serious reprogramming today.

 

What time is bitcoin open again to trade? Instead of watching on coinbase, currently 13220

[Guest stuff123]

Strange how my btc position is still there as it is just in the negative yet my bth position that was well in profit was closed???

[Guest DANNYM]

My positions too were only USD, and all got closed at the original opening levels. Some of these had been running for several weeks. I have reviewed the past statements, and the daily FX interest charged has not been refunded. I just hope it is a system error. No one we can talk to until 21GMT today when Asia re-opens