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 prioritising 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!
I've a feeling the moderator won't approve this post.
From: IG <email@example.com> Sent: Saturday, 30 January 2021 11:06 PM Subject: Important: new positions restricted on GameStop and AMC
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Trading restrictions on GameStop and AMC Dear Mr Farrell 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 on the US stocks GameStop and AMC Entertainment.
These restrictions apply to all IG accounts, and will be reviewed regularly. You will still be able to close any open positions that you have in these stocks. Any orders that you have already placed on these two stocks will remain.
In addition, if you have any CFD positions open on either stock, please be aware that the margin required to keep them open will increase to that listed below from 3am (AEDT) on Tuesday 2 February. Please ensure that you have enough money on your account to cover the margin requirement.
AMC Entertainment Holdings Inc
We're here to help If you have any questions about this or need help with your account, you'll find quick answers in help and support or IG Community. You can also get in touch with our team 24 hours a day, except from 9am to 7pm Saturdays (AEDT).
Kind regards IG E firstname.lastname@example.org IG.com.au
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