This is such a disgraceful move.
"In order to prioritise the service we give our existing clients, IG is not currently allowing any new positions to be opened on the US stocks GameStop and AMC Entertainment. Clients are still able to close existing positions in these stocks."
I AM an existing client and this is the exact opposite of prioritising service....
Do you really expect your customers to believe this?
This is clearly not the reason at all. IGG traded below 500 in the last session despite being over 900 a week ago, so there is much more going on here. What is IG's stake in this whole situation? Some transparency would be nice but we know that's not going to happen.
Whilst it is not unreasonable to increase required margins to 100% to cater for increased volatility; to prevent purchasing of GME and AMC is only being done for one reason which is to reduce demand.