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Showing content with the highest reputation since 17/10/20 in Blog Comments

  1. is it legal for IG trading to manipulate the market like this by not allowing position on GME? totally disgusting
    34 points
  2. Extremely disappointed. Increasing margins make sense. Banning buys? What in the world. "Prioritising service to existing clients". You mean you're manipulating the market because the people who pay you told you to do so. Well done.
    31 points
  3. I would recommend everyone read section SYSC 3.1 Systems and controls of the FCA handbook. The contract we all signed with IG seems to run counter to what they are doing. Stinks of market manipulation.
    29 points
  4. At least now we have someone in the UK to sue now rather than just RobinHood
    22 points
  5. Total and utter disgrace by IG here!! Which hedge funds are paying you off IG? This whole rotten system stinks, and its blatantly obvious what's going on here. I hope everyone withdraws their funds from IG and they flow to brokers which allow free and fair access to the markets. IG have completely lost my trust. I'm out.
    16 points
  6. So what is IG going to do about the fact that it crashed for an hour during the rapid events, and GME shares worth $400 couldn't be sold (in fact, it seems a huge number couldn't even log in successfully) until they had hit $200. Taking risks on a stock is one thing. But when the platform goes completely dark, is that just a gamble that's our fault as well? And if it's not our fault, then does the company who's responsible get to share in the losses they're responsible for?
    14 points
  7. Is this for real? IG are actually preventing people from trading in these stocks? “Due to the recent extreme volatility, and in order to prioritise the service we give our existing clients we are not allowing any new positions to be opened” ???? This doesn’t even make sense. Absolutely atrocious, you’re joining the Robinhood gang! Nothing other than protecting the hedge funds while the individual loses out. This is not prioritise your service to your clients unless your owned by Wall Street. This action is for no reason other than miniminse share price increase while the shorting continues throughout next week. I will certainly never be using the platform for trading and will make sure my co-workers follow suit. Dispicable!
    13 points
  8. 12 points
  9. I just received your email that you are not allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment, but you are allowing current positions to be closed... Maybe I'm mistaken, but to close a position (sell), there is typically a new position (buy) at the other end. If IG is blocking me from buying US:GME, who is buying the closed positions? If some parties are allowed to open positions, while others are blocked, what would you say to accusations by members of the US Congress that this is market manipulation? Are you worried that IG may fall under a US:SEC Review for these actions, similar to Robinhood? I look forward to buying more GME when the market opens on Monday.
    10 points
  10. I am an existing customer. In my interests please remove blocks on purchase of GME stocks. I am fully aware that my capital is at risk, stocks are volatile. I accept that and continue to want to buy GME on Monday.
    8 points
  11. So if I were cover 100% of my opening CFD position, there should be no chance of getting margin called, or positions automatically closed, right?
    8 points
  12. How can IG call itself a trading platform if it doesn't allow trading? Surely it is breaking the trade descriptions act, amongst many other terms and conditions. Formal complaint being made.
    6 points
  13. And the game isn’t rigged??? What happened to a free market!!
    6 points
  14. Hang on. ELI5 please: If I have to go 100% margin on these stocks, whats the point of CFD then? I pay for position open, risk losses due to volatility, and dont get the ownership of the underlying asset? Shouldn't this be considered as share purchase then? Do Hedgefunds and HNW have buy restrictions too or is it one sided against retail? Assking for future formal complaint.
    6 points
  15. Please retract these actions. Not only is this market manipulation... The constant crashes freezing users out of the market are making you unviable as a broker at all. Fix your issues and maybe avoid a lawsuit?
    5 points
  16. What happens if I just want to be an owner of these stocks so that I can have voting rights at AGM? I can't do business with a broker who halts one side of a trade. If there's no buyer then why bother selling. I may decide to close my account after Monday based on whether IG reverses this action or not.
    5 points
  17. This doesn't feel real...if you are willing to trash your reputation like Robinhood something must be fundamentally rotten.
    5 points
  18. IG Nokia NOK the last straw. Shocking, Ive had this happen countless times with IG every time there is an actual opportunity to trade volitility retail are blocked out until the position is crushed due to buying blocked out how convenient that seems. I am now even more fed up of being blocked from taking profits, can't close position due to either platform not functioning or "outages " in which IG are still able to seek positions and deal themselves and blame other factors Why is it every single time your position only comes live again is when its dropped way past your stop limit e.g £1100 stop loss then opens briefly to a -£1800 and closes you Then if you want re buy at the lower point the margin moves from (Nokia) 28th jan 21) 11am £50pp £4500 margin needed to £50pp £21,000.00 equity needed in the same day . After being blocked to sell at a £2500 profit by the 'platform' and market "outage" until my position is forced down by no one being able to buy the market im kicked out with a £1800 loss Then attempt to re buy on another Nokia instrument that is open (green light) with a £200 stop loss and immediately then goes dark and fires in a £875 loss In what way are IG acting in clients interest here, if your not able to offer instruments fit for purpose how can the FCA allow you to provide them Complaints team call me to apologise for the situation and their very poor email response that was shocking in all honesty, this proceeds with a first seemingly helpful agent wishing to rectify the situation. Firstly offering me to be put in a overall position of £380 .00 ish up on the 2 trades yesterday. but wait.... I explain I was un able to close the position continuously while it bounced £2300 to £2800 profit for a good while and while I appreciate his offer could he not try a bit better to put me right. He then comes back on the phone to tell me its not IG's fault and their system was faultless ! this is not true and I logged earlier screen shots with positions marked at £1395 profit and £1780 profit which were also not able to be closed due to failings of IG The best bit of all is now they won't offer any compensation at all now and blame the underlaying market conditions of why then can't provide exactly what they advertise to be able to do. Im not letting it go this time around ive spent a small fortune on IG's services for years and this is how retail clients are treated. Ive not even been offered to be completely zeroed on yesterday's trading when I should of had a £2500 rare opportunity to make a profit.
    4 points
  19. down again. Nice one guys. Remember your screwing all your customers here
    4 points
  20. By restricting the buying you're putting downward pressure on the share price. This is the definition of market manipulation.
    3 points
  21. Absolutely **** that you can pull this. We can only sell and can no longer buy the stocks that almost everyone is currently looking to buy and hold? Are you serious? "You are all free to trade in everything! And by that, we mean you are free to trade in exactly only what we decide you can. Which changes from day to day and on a whim, depending how we are feeling at any particular time" And also noted is the utter silence from anyone at IG since this appalling announcement was made, in any thread in the forum or post here. Really professional guys, super good look for you. Congrats. I can guarantee you have now made yourself a ghost town in the coming weeks and months. Was it worth it?
    3 points
  22. s a professional member with a Premium manager I contacted him but he knew nothing about this move from IG. I will be running down my open positions and closing my account as I have had enough of this manipulation. The system going down at 14:30 the last three trading days was at best a deliberate action to throttle the service and at worst a manipulation to stop customers trading and allowing the volatility to take them out with no recourse.
    3 points
  23. Having had some advice from a financial advisor, to change the parameters of the contract that was made at the time of opening the position by changing the exposure after the contract has been made is illegal. SEC and United kingdoms financial regulatory authority will also find this to be the case. AS many people are going to lose money when their positions are closed after the goalposts have been moved. I really enjoy using IG and have traded on other platforms before using this one. I traded through first wave of pandemic on another platform and not being able to close positions in last week at crucial times has already cost me and many others, but to now change exposure and so forth is not a good solution. Best wishes Mark
    3 points
  24. If I don't get rich of GME I'm getting rich of suing you.
    3 points
  25. All this talking of moving brokers - are they not all the same and doing the same restrictions? Are there any decent brokers out there who have not blocked trades and hiked margins?
    3 points
  26. ANYONE WITH STAKE IN AMC AND GAMESTOP READ THIS You need to file an official complaint with the SEC detailing the exact nature of this complaint. https://www.sec.gov/oiea/Complaint.html This will be used in the class action lawsuit this company will face for what is clearly market manipulation. And here I thought I had one of the good brokers. How can anyone be expected to keep their account with IG after this? https://www.sec.gov/oiea/Complaint.html
    3 points
  27. Okay, so if I were attempting to sell at $400, but was unable to due to IG's platform failing, then the price drops to $200, is that just a "whoops, sorry, better luck next time" from IG, or is there anything to be done about those lost gains?
    3 points
  28. I am a new Client. I have been chasing customer service and help for 3 weeks to withdraw my funds. None of them reply to me or fix the issue. My card and account is verified. Why IG have such a poor customer service.
    2 points
  29. Why don't you guys just have a Reddit channel and forget about this 'Community' blog? It's really difficult to get someone to answer questions and looks outdated in my view.
    2 points
  30. Time to close my account with IG. GamEnd
    2 points
  31. Unless IG follows Interactive Brokers Group, and lifts all trading restrictions in GameStop, AMC and others, my previous plan to move my £800,000+ SIPP to IG will be going to other brokers.
    2 points
  32. I understand (but not agree with) increasing the margin requirements if there is a liquidity issue, but not allowing buying in non-margined accounts? Please explain IG!
    2 points
  33. My fellow investors, this sort of behaviour by IG seems like a key indicator they are biased in the current climate, they are most likely working with the hedgefunders to sell your information when you make trades so that they have inside information to move against you. this is my speculative opinion only however if the shoe fits.... i’ll be moving away form this platform after I have closed my position on this stock shame on you IG
    2 points
  34. Adding massive margins and closing positions? You have no issue with risk when it loses the consumer money but when there’s risk of losing your paymasters cash then suddenly it’s not okay? I’ll be closing my account t
    2 points
  35. Surely by stopping people go long you are making sure there is a guarentee that the price will go down?
    2 points
  36. what will be the 100% margin amount for 1500 share of amc which i bought at 19?
    2 points
  37. Can anyone explain whether this means you are able to buy or sell normal equity shares in GME?
    2 points
  38. That's our choice if we choose to rush in with the herd. No different from the big boys with their clone narratives. Free trade should be protected. We don't need your paternalism. You've never cared about punters. Don't pretend to start now because you might be getting burnt. Stop taking down the website. Stop the market manipulation!
    2 points
  39. Hey @superwi11, Thanks for your comment. We do apologise for the issue yesterday and if your positions were affected we do urge you to correct your exposure and reach out to us so we can resolve this for you. All the best
    2 points
  40. I was considering going in but there were too many non confirmations in my signals for me. It seems the rally was driven by the usual suspects - that narrow handful of mega cap stocks that responded to the lower gas price, lower inflation, lower interest rates meme. But with disrupted supply where it is and the under investment in oil the last few years, I don't think that particular story is over just yet for this cycle. And as stated in the article, the bounce had that feeling of sharp short covering on hopeful news flow that was characteristic of the Great Financial Crisis. My main worry is the valuation of tech and the effect a small tightening in monetary policy may have on the entire edifice.
    1 point
  41. Central bank press conferences on monetary policy provide a lot of price movements and volatility in the forex markets. Traders looking for high volatility and price swings are always watchful during these central bank events.
    1 point
  42. Excellent blog. Love the psychology of trading. 🤯 it is the most difficult part of trading (emotions). learn to control emotions mix some discipline and you are on your way. 🚀
    1 point
  43. I will second this suggestion! Viewing as an options chain is so much more friendly. Presumably this would also enable the implied volatilities to be displayed, which helps enormously with assessing value and timing trades, especially as the IV seems to vary considerably through the day.
    1 point
  44. @CharlotteIG I'll keep asking until this question gets answered. Why don't you lay out these options in the same intuitive format as the commodity, index and FX options already available on the platform? Also, why not list them under "OPT" with those others?
    1 point
  45. Thanks for the update James. I appreciate the further explanation and the increased capacity comments, but it does feel somewhat counter-intuitive that in order to increase your service and stability, you have had to reduce it by restricting functionality on just two stocks (and relevant CFD/SB). What happens when these two are no longer flavour of the month and some new stocks come into the spotlight? Do we have to suffer three consecutive days of degraded performance until these stocks are then restricted? If the markets have taught us anything, it is that this will happen again and putting out spot fires in this scenario is rather self-perpetuating. I had no interest in either of these stocks, but was annoyed when I couldn't access the platform to transact on local markets. For my interest (and perhaps others), it would be good if you could share metrics of usage – usual vs last week, to understand how ‘extreme’ last weeks activity was.
    1 point
  46. Are Ig following suit? Interactive Brokers lifts trading restrictions on options 03:10 Jan 30 (Reuters) – Online trading platform Interactive Brokers Group Inc said late on Saturday it has lifted all trading restrictions on options in GameStop Corp , AMC Entertainment Holdings Plc and others hit by recent market volatility. ... (Reporting by Rama Venkat in Bengaluru; Editing by Sam Holmes) ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607)
    1 point
  47. I would like to convert my cfds into shares please....that i all, if you are going to play this game.
    1 point
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