[Closing Only]

13 hours ago, CharlotteIG said:

Hey all, 

Please note this is a business decision but want to apologise for any inconvenience or upset it causes. 

IG and the wider financial markets have seen unprecedented demand for trading from retail clients. We constantly review the products we offer particularly as there are additional operational hurdles associated with margin intensive asset classes. More information on this will be released this week. 

All the best. 

Just issue senior notes or do a common offering if you need funds to buy stocks. But not allowing customers to buy the stocks they want is really weird. At least add all the stocks at 100% margin, what would be the issue with that ? But not adding them at all should not be legal. We want to have access to the same stocks as the institutions.

Also if you need funds move Tesla to 100% margin as it's the most traded stock.

[Crypto account frozen "Temporary market restriction"]

You guys should feel really lucky that IG is forcing a close on your positions at the top of the market.

[non-professional account went sub-zero; then bank transfer request was cancelled to cover sub-zero losses. is that OK? what about negative balance protections]

If you went negative it's normal that your withdrawal was cancelled ! You can't withdraw money that you don't have.

[Closing Only]

I loaded up on tons of SPACs just before the restrictions, lucky me. But now IG is refusing to add any more SPACs. The reason is they don't have any funds left to buy the underlying stock as we are all going on margin, the funds need to come from somewhere to hedge the position. They are using their own funds for that. They should issue senior notes or a common offering to raise funds like robinhood to be able to continue trading. It's not normal that us the retail investors have less tools than the institutions that are never restricted in their trading.

[Bank withdrawal]

On 23/05/2020 at 01:51, Joo said:

That's very very weird, a customer can't recover their funds if they want to ? And you are not able to give a timeframe ? 

I would like to update my message as I've withdrawn for the first time today and it was a good chunk of my money. It took less than 24h from the moment I clicked the button to the moment the money arrived in my bank account. I can only recommend IG to everyone now, excellent service. My friends had the same experience concerning withdrawals.

[Direct Transfer to Bank Account]

2 minutes ago, Fletch said:

Withdrawal is paid back to a funding credit/debit card as a refund

Credit cards ?? Who uses cards to fund a trading account ?? Doesn't make any sense. My cards are limited and also they can be cut at any time by the bank for security purposes. I only use transfers, never I would think of using a card.

[Direct Transfer to Bank Account]

I don't understand this question, I thought you could only withdraw to your bank account... I didn't even know you needed to wait until withdrawing. How would you withdraw if not to your bank account ??

[Bank withdrawal]

On 21/05/2020 at 22:43, CharlotteIG said:

This time is determined by out credit team, we wouldn't be able to give you a specific time period/ date. 

All the best 

That's very very weird, a customer can't recover their funds if they want to ? And you are not able to give a timeframe ? 

[Do guaranteed stops move by themselves or not ?]

Hello,

Let's say I buy a stock for 100 USD with a guaranteed stop loss of 90 USD, the stock goes down to 90.10 USD and close the day there 10 cents from my guaranteed stop loss. Will the guaranteed stop loss be recalculated and moved or it will stay the same until it hit ? Because now I have a guaranteed stop loss only 10 cents from the actual price and the next day the stock could gap down and IG would lose money.

Thanks

[Guaranteed stop loss in different scenarios ?]

Hello,

I have a few questions about guaranteed stop losses in different scenarios.

1. What if the stock is delisted or goes to zero (because of a fraud or whatever else reason) ? Will it be honored ?

2. Will the guaranteed stop loss activate at the exact same price of the guaranteed stop loss or will IG start to sell before to try to exit without losses for them ? I want to be sure at what price does IG starts to liquidate the position. For example if my guaranteed stop loss is 10 usd, the stock is trading at 10.05, will IG start selling or will they wait for the exact price to reach ?

Thanks.