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Showing content with the highest reputation on 01/04/21 in all areas

  1. HI, I have CIIG merger shares (CIIC) that have become Arrival (ARVL) on the 25th March and is now trading on Nasdaq under new code. My IG account did not update to the new code and I can't find the updated code on IG at all. Any ideas on this?
    1 point
  2. If a client buys a DFB contract dated 2029, which most of them are, how is it legal and/or FCA compliant for IG to end the contract earlier by forcing clients to close prematurely even when their accounts are not on margin call? The premise of the trade is that IG takes the equivalent underlying position and funds it with the daily interest charges so why is it not able to hold the position open indefinitely?
    1 point
  3. Forced closing for clients who came up with 100% margin is ridiculous. They will force us to take losses on positions that would turn green a couple months later. But let's not forget that IG is NOT a broker, IG is a casino, we are trading CFDs, not stocks. Once the CFD turns against IG they want out of the position and it doesn't matter who is hurting, they just want out. I guess they haven't found anyone to "buy back" the CFDs from them to let us keep our positions, there is nobody willing to take the other side of the trade on our CFDs because our win ratio is too good.
    1 point
  4. pffft inconvenience really ..... you were happy too sell these equities too us your customers in the first place ....your change of how you now view these products surely should only affect your client involvement after your view was changed .....when i purchased my products from you it was never pointed out to me that although i have paid for and fully serviced my purchase you could at any time change your mind and confiscate my products just because they are no longer profitable assets to yourselves.....when a trade is made you are obliged to fulfill it full stop....this must be illegal surely
    1 point
  5. if you were willing to let your clients purchase something you cant then say ohhh no we have changed our minds you have to sell it......im covering the 100% margin you requested ive serviced all charges required to maintain my possition ....there is no ethical reason that allows you to force my possition in any way... we made a deal ...... when i purchased stocks from you and they plummeted did i say ohhh no sorry i didnt really want them can i have my money back .....this is unacceptable behaviour and i will definately be pursuing it a lot further
    1 point
  6. @CharlotteIG This is not frustration Charlotte, this is absolute anger, rage and fury; I have affected positions that are currently trading at a loss which could easily be in profit in a timescale acceptable to me - in the meantime I pay the associated costs, Saga being a prime example, yet IG are forcing me to take £000's of cash loss through no fault; IG have accepted a commercial contract on which they are now reneging at my significant cost
    1 point
  7. Maybe IG have decided that with such exceptional demand, they don't need to worry about long term clients. The exceptional mob will not be around for the long haul. As a result of what IG have done, long term clients may not be around for the long haul either.
    1 point
  8. Charlotte, we keep seeing the message that's it's small caps that have been withdrawn. It isn't. For example, Hikma has a market cap of £5.2bn and is in the FTSE100. How do we know which other companies IG might decide to do the same to? We are also told that it's due to exceptional client demand. In that case, limit new opening positions (buy and sell). Why should we long-term clients suffer due to this?
    1 point
  9. Hey, I completely understand your frustration and I will pass it onto our senior team as well as the exposure desk. The decisions has been made but I'm so sorry for how it's impacting your trading. With exceptional client demand in the equity space, we have reviewed our 12000 leveraged markets and decided to withdraw less than 1000 small cap equities, after a review of associated returns on these markets. We will continue to support these markets for Share Dealing, where that product is available. Sorry again for this inconvenience. All the best
    1 point
  10. And on top of the cost of several hundred pounds to close SBs and buy shares, I have had to close other positions, including forward positions that sold for less than the corresponding DFB, and sell some shares to generate enough cash at such short notice. IG really needs to realise that they need to give a lot more notice of such actions.
    1 point
  11. It has cost me several hundred pounds to swap £20k of SBs to shares. Annoyingly, because it takes time to withdraw money from IG, I have had to buy the shares in my IG account rather than elsewhere, as news is expected and I don’t want to risk missing out on any rise. But I am really looking for answers from IG on this if I am to continue trading here.
    1 point
  12. @CharlotteIG - the forced closing of positions in affected markets is completely unacceptable business behaviour; open positions should remain as is until closed by customer at whatever timescale they decide
    1 point
  13. I received a notice at 1230h GMT on Monday 22nd.
    1 point
  14. I am furious. I have been a client for many years, but I have just lost all faith in IG. Hikma is on the list and is a FTSE100 company.. How do I know they won’t do this to any other position I open? There are large spreads on many AIM companies 5hat I hold, so there will be a significant cost in closing my spread bets and buying shares. Why not just stop new positions being opened? I am OK with Increasing the margin to 100%, but do feel that more notice should have been given - 4 days is ridiculous, and that’s assuming you saw the email immediately. I wouldn’t have opened a few positions in the last month had I known about this then, and I am now going to have to close these as well. For existing clients, this action makes a mockery of IG’s stated commitment to be on the clients’ side, and helping them to trade profitably.
    1 point
  15. And the point I am making is that IG has always shied away from markets if they become high risk, that's what their traditional client base expects. I and most other IG clients expect IG to close the book on any particular market if and when risk endangers all clients. I was glad everytime IG closed the book on Bitcoin during late 2017 and on many other markets since. There are plenty of other brokers who exercise a higher risk business model. Use them. .
    1 point
  16. So following the decision at the end of February 2021 by IG to exit certain share CFD markets of their choice I have today, through no fault of mine, lost c.£7500.00 from my funds through forced position closures
    0 points
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