Fingersxxd

I've been moving away from using trading platform for research/technical analysis for a while now. The end game is to develop a suite of tools which are account independant. Most platforms offer a decent UI for buying/selling, it's more a case of access to markets and fee structures. Making competitor recommendations on here is likely to get posts removed, so i'll refrain, but there are lots of comparisons out there.

The lack of visability on closing markets in the platform is a problem and could be addressed better. However, this is a different problem. It equally could have gone down and you could have lost money. Hindsight is great. However you're not being forced into closing a position at very short notice.

Vote with your feet. I've just closed out my remaining positions and requested withdrawal of my funds. I'll be moving to another provider.

So I've just discovered that some clients were contacted in advance of the email notifications. This is clearly wrong as they would have had advance warning to sell at potentially better prices than everyone else and certainly before some of the forced selling.

I've already had to close a number of positions which were significantly up today, but which I expected more to come - mainly commodity related ETF's. This has hurt my trust in IG and the damage is already done as far as I'm concerned as i've now been forced to make a decision in preparation for Friday.

IG sent an email out this morning. I'm guessing to those affected. The link to the affected assets is: https://www.ig.com/content/dam/publicsites/igcom/uk/210219_IGM_UK_Affected Markets - Non TT.pdf

Hi, you can find the list of affected assets here: https://www.ig.com/content/dam/publicsites/igcom/uk/210219_IGM_UK_Affected Markets - Non TT.pdf

Looks like the answer came out today via an email annoucement. Access to these is being withdrawn from CFD/Spreadbet accounts and open positions will need 100% margin from 26th Feb and will then be force closed from the 29th March. Time for me to find another provider. Being forced to close positions is a terrible move by IG. I'm sure they have their reasons, but forcing clients to take profits/losses isn't good.

I tried tweeting support yesterday. No answer. After i've seen these positons through, this will force me to reconsider IG as my platform of choice.

This might be related to some regulations proposed in the US on leveraged ETF's due to their complexity and use of options to provide the leverage: https://www.thestreet.com/investing/etfs/leveraged-etfs-more-regulation-10627793

I'd be interested in this. I've lost count of the number of times i've spotted an opportunity, only to set a buy order and find the market isn't tradable from a CFD account.

Similar question was posted here: I've the same issue, tried to add the Direxion Biotech 3x Bull today and couldn't even though like you i have open positions. I really hope this isn't a restriction, as these are excellent trading vehicles.

I have the reverse of this issue. Tried to buy an ETF from a CFD account and couldn't. I've brought the ETF in question several times over the last 12 months (Direxion Biotech 3x Bull) and it's a great trading vehicle over the short term. I hope this isn't a permanent move!