I thought IG didn't allow to reopen long positive when price going up is bad enough.
Today they reach a new high! Now they do not allowing to close short positions when price raising up!
Today when the BTC price reached the bottom and jumped back I wanted to close my short position, they just not allowed it !
The error message I got is:
"This order takes you over the maximum size for this market. You can deal in the same direction up to 3 contracts every 240s"
I have to count my position and close to make up 3 contracts, closed 0.2, closed 1,5, closed 1.3 then cannot close any more!
I keep trying and just doesn't allow me to close, eventually I clam down from the panic and final find one way to close them -- move the stop loss price as low as possible, which is $200 from market price !
By the time stop loss was triggered, I already lost $2,114.
After close all the positions I called IG again and again they said that due to BTC market is volatile and not liquid.
And again they said that how their system work and they will not make any compensation for it, if I disagree, i can raise a complaint
They told me there is a rule in their system that only allow customer to close 3 BTC contracts every 4 mins.
Why don't they let customer know that first?
IG probably is the worst Cryptocurrency market maker in the world.
Never heard any other broker do not allowed close positions.