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Showing content with the highest reputation since 15/06/18 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. Thanks for the useful additions to the already excellent charts. Any likelihood of OCO trades in the not too distant future?
    3 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. didn't think this required its own thread, but thought it was interesting. Saw it on reddit today. "In the 1640's the Dutch inhabitants of New Amsterdam built a 12' wall to keep the bad hombres out. In 1664 the British ignored the wall and took New Amsterdam by sea. It's now called New York. They took down the wall and built a street. It's called Wall Street" also, If you visit the street there is still a piece of the original wall in the ground. and then some non-finance related dutch/NYC facts : Coney Island = Conyne Eyland, meaning rabbit island (Konijn Eiland in modern Dutch). Staten Island = named in honor of the Staten-Generaal, a government body. Nassau = Name of the royal Dutch house (think "Windsor"). Brooklyn = Breukelen in province Utrecht. Harlem = Haarlem in Noord-Holland. Rhode Island = Roode Eylandt (red island in Dutch). Yankees = the common first names of Dutch men, "Jan" and "Kees" slurred together. Yell that at any Dutchman and you were likely to guess his name. ...thus concludes our history lesson for the day
    2 points
  41. I never knew what the RSI reeeeeeally meant. Thanks for the insight and real world example.
    2 points
  42. Hi @hart, it looks like you will need to switch to the new platform to see that particular function. It looks like an added update to the new platform and may not be added the old.
    2 points
  43. It is quite sad, since Reuters has their principles they need to adhere to that mandate objectivity and factual reporting. https://www.thomsonreuters.com/en/about-us/trust-principles.html In 80-90% of cases they report factual reports and unbiased information, but when it comes to certain political events it's as if the editors and reporters on the stories spin flavor and saturate their own views into the story. Quite dangerous since the markets demand objective reporting and not opinion-based reporting as to make rational and critical investment decisions. I've actually thought of writing them an email regarding this issue, due to the larger amount of biased news-reporting I've been seeing lately. https://macaudailytimes.com.mo/files/pdf2017/FT-2894-2017-09-25.pdf It is in the education systems, and if Harvard is affected by this, which classically has been associated to be on the capitalistic side of the spectrum, one starts to see that this paradox is all-encompassing throughout Western-society. The riches they have amassed are indeed created by market structures, and prominent offshore havens to evade 38% corporation tax (Until Trump change that and profit repatriations have started to flow back to the U.S.*). It is thus therefor very ironic, that they are publicly outspoken and prominent champions of leftist ideologies but when it comes to business, refrain to be true capitalists. I often view the left to be a heep of caffé latte sipping drinkers, intellectuals who so to speak read the driver's manual of the car, but never drive the car and get that intuitive experience of knowledge or society. Monopoly on morality is also one of their characteristics, were being lectured on values of right and wrong creates a judgementative atmosphere, that elevates their position akin to a judge. Summarizing it, one starts to understand that they've taken for granted the riches emassed, which is the same thing they so ferociously criticize and despise - the market.
    2 points
  44. Thank's @NadelinaIG for the inclusion of the video interview with Prof. Steve Hanke on the Venezuelan currency crisis. I haven't laughed so much in ages, a complete take down of Socialism and the Maduro government, plus an interesting aside on gold and oil at the end.
    2 points
  45. It certainly can be argued that the BoE shouldn't have hiked rates owing to the subpar showing on the standard mix of fundamentals they look for when they deliberate such actions. That said, I think the circumstances for policy currently are such that they cannot follow standard procedure. Though their mandate is to target inflation, there are many long-term factors that go into a steady bearing of medium-term (their term for roughly 2 years forward) price stability and there are is an underlying interest to promote economic activity and maintain financial stability. A rate hike of 25 basis point from practically zero is not going to carry a material effect one way or the other - cause significant economic trouble nor alleviate it. Further, Brexit presents considerable uncertainty in terms of growth, but it can also stoke inflation through financial costs and for more expensive imported goods among other factors. Then there is the environment for which monetary policy is being employed globally. The Fed is unique in that it is hiking well beyond the tempo of any other authority, but there is a move to normalize globally. If they were to hold at the extremes while others have normalized, it would incur problems for fighting future financial/economic troubles as they arose. As it stands, Japan is likely to find itself in an untenable situation should global conditions take an unfavorable tack. I think some of the more market savvy participants of the MPC are worried about this strategic risk.
    2 points
  46. Hi @cryptotrader, doesn't tend to comment particularly on crypto, his blogs are generally more concerned with macro events and how they might impact on differing markets. You can find out more and see more of his blogs here; https://www.dailyfx.com/authors/bio/John_Kicklighter
    2 points
  47. Thanks all for the feedback. I am actually based in Chicago, but you're right; usually don't start doing updates until towards the dying hours of London trade. However, this I usually write over the weekend and get out before the Asian markets start to trade. I have done these mainly for internal purposes; but James said they'd be useful here as well, so will drop them in the community blogs regularly as well. Good luck trading all!
    2 points
  48. You’re not wrong @Caseynotes I for one enjoy the macro trend review. So good to be able to login and get this on mobile on the Tube commute along with the EMEA thing that James posts.
    2 points
  49. Thanks for this John @JohnDFX, I noticed your sign up to the forum on Friday and look forward to reading your continuing, as ever excellent analysis.
    2 points
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