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ColinJ

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About ColinJ

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  1. 'they’re under no obligation to extend leverage on stocks they don’t want to.' - correct, for anyone who wishes to open a new position from a given point, but they ARE OBLIGED to honour existing open positions: If market conditions change against IG existing business model then they change for future trades, not historical ones - that's the deal, we don't have to just accept it as a risk because it is not STATED as a risk by IG
  2. 'some reason you think they should be obliged to do in perpetuity.' correct, once a position is open they ARE obliged - its called a deal/contract; there is no time limit set on a CFD trade and nothing in IG T&C that allows them to close an open position that is not margin call based
  3. 'already demonstrated that you’ll be giving it all back and more' - I'll take that compliment; if I can afford that kind of cost that makes me a millionaire, 'why don’t you buy the underlying shares and stop paying money to borrow off your broker.' - its a very simple concept, listen carefully! its called Maths; I can buy ~5 times more of a single stock and more variety of stocks, thereby spreading my RISK - let's call that management shall we, overnight funding £costs c.0.0065% / day - not much price %age gain needed to cover that, but it is also monitored daily following on from the i
  4. 'don’t know any profitable traders who hold on to spreadbets for months, it’s such a bad idea' - not necessarily - its simple Maths; my £75,000 Saga CFD position overnight cost over 3 months is a great deal for a £15,000 profit, even if it took 6 months
  5. 'No successful trader ever had a victim mentality' - WRONG - being successful and being a victim (in this case of disgraceful business behaviour of forced open position closure by IG) are not mutually exclusive; 'something which you’re unable to do because you’ve overleveraged on illiquid crappy small caps' - WRONG - my small cap margin is <2% of equity; 'you won’t make money with your attitude' - WRONG - >£100k trading profit this financial year: the fact that IG gave notice they they were screwing over some of their customers doesn't make it any less of a screw over; yes IG can decide
  6. Nowhere within my original post does it state that I cannot tolerate losing £7500, also, my post states that the £7500 loss is from my FUNDS, NOT P&L, the pertinent issue is that it is my decision if and when a P&L loss is crystallised, not IG's.
  7. Again there is nothing in my post that suggests I don't also hold actual shares, which I do, or that the loss value associated with IG's actions does not fall within the percentages you suggest; I also trade CFD's to take advantage of the leverage. What I expect is when I make a contract/deal I expect it to be honoured, I don't expect to be sh@fted because its in their business interest. If I decide to hold some trades for an extended period that is my choice and I pay accordingly.
  8. There is nothing in my post that suggests the loss value related to one trade - in fact it was a number of positions closed by IG that were currently in a loss state but could easily return to profit within a timescale acceptable to me; one such example being SAGA, regarded by me as a pandemic recovery stock
  9. That is the planned action which necessitates dealing with Compliance first
  10. As required I have lodged a complaint with IG compliance as I believe there are a number of contractual points that undermines their actions
  11. 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
  12. As you rightly say, based on their decision making affect on existing customer positions, faith in IG being a decent ethical organisation is shattered - I would never have thought a company who had such a good reputation and project such s customer inclusive approach could **** its loyal customers on this manner; please email their Compliance department if not already done in case of future litigation
  13. @CharlotteIGIf you are sorry for the impact, please advise immediately what action you are going to take to resolve the fact you are going to remove £000's of funds from my account through no fault of mine by forced closure? And please, Charlotte, this is not an inconvenience, this is a disgraceful unacceptable business behaviour
  14. @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
  15. @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
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