UCO position change, but I don't know why!

[Ramamon]

Hello Guys,

I opened two position on the ETF UCO  on CFD account  at the price of around ~2.0 holding 5K shares.

But today my position has changed (as attached below) to be holding only 200 with price ~50.0.

Can someone please tell me what has happened here?

[saffertrader]

20 minutes ago, Ramamon said:

Hello Guys,

I opened two position on the ETF UCO  on CFD account  at the price of around ~2.0 holding 5K shares.

But today my position has changed (as attached below) to be holding only 200 with price ~50.0.

Can someone please tell me what has happened here?

 

[saffertrader]

Ya same thing has happened to me and they have put my account on "monitor" so I cannot use to close any positions. This is a farce. Been on the phone for 4 hours waiting to get an answer. Sent 4 email and no replies. Good luck mate !!

[Ramamon]

Thank you @saffertrader and good luck for u too. I've tried to call but no answer.

If you got any answer please share it with us on this thread.

[abehbeh]

my share account was close and shares sold without me knowing and all cash was withdraw from my account, but not into my bank by someone. it sounds like there's internal problem with the IG.  GOD HELP! everyone

[CharlotteIG]

18 hours ago, Ramamon said:

Hello Guys,

I opened two position on the ETF UCO  on CFD account  at the price of around ~2.0 holding 5K shares.

But today my position has changed (as attached below) to be holding only 200 with price ~50.0.

Can someone please tell me what has happened here?

This stock has a consolidation. This is when the company will offer you 1 share for every 25, for example. 

We don't have control over these but we have to adjust when these are announced. 

All the best 

[CharlotteIG]

17 hours ago, abehbeh said:

my share account was close and shares sold without me knowing and all cash was withdraw from my account, but not into my bank by someone. it sounds like there's internal problem with the IG.  GOD HELP! everyone

Thanks for your post. 

When we withdraw funds to a bank we have to see proof that the bank account is in your name. 

If you did not contact us, sell your shares or withdraw your funds you need to reach out to our help desk so we can raise a fraudulent case and it needs to be reported to the police. 

All the best 

[Ramamon]

54 minutes ago, CharlotteIG said:

This stock has a consolidation. This is when the company will offer you 1 share for every 25, for example. 

We don't have control over these but we have to adjust when these are announced. 

All the best 

Hello CharlotteIG,

Does this consolidation happens to ETF traded on spreadbet accounts as well?

Is it applied  demo accounts (CFD/spread bet) too?

Regards,

Ramzi.

 

[CharlotteIG]

On 22/04/2020 at 11:24, Ramamon said:

Hello CharlotteIG,

Does this consolidation happens to ETF traded on spreadbet accounts as well?

Is it applied  demo accounts (CFD/spread bet) too?

Regards,

Ramzi.

 

Stock consolidations and stock split (so the reverse meaning you would be (for example) 25 shares for every 1 you hold) will reflect on leveraged accounts as well. 

At the moment there may have been issues with the demos reflecting these. Due to high demand we have has to focus on making sure all Live accounts are dealt with correctly. 

All the best