Thomas Cook Share Discussion Threads

[asagi] 25/11/2019 21:42

thanks, JakNife.

I hadn't read things properly. IG have NOT increased required margin to 100% at any point, so the experience versus CMC is not so inferior. Us shorts are able to withdraw nearly all the winnings (99.9%). I'd mistakenly thought that they had priced at 0.001p but were retaining the margin on the full suspension price.

Still, it took too long and CMC was a better experience.

Asagi (short TCG)

[asagi] 25/11/2019 13:26

then IG's systems are giving a sub optimal outcome for clients. That's their business call but given that they are retaining client funds when their "independent advice" tells them it is a zero I am not ruling out the possibility that they are acting in breach of rules.

CMC paid out at zero weeks ago. If CMC closed longs out at zero also, by your logic, those longs would have a case against CMC.

Asagi (long TCG)

[asagi] 25/11/2019 11:47

do you think that CMC Markets broke the law by paying out at zero? That's a serious question.

Asagi (short TCG)

[asagi] 25/11/2019 11:17

certainly not all done here. IG are NOT pricing at zero as promised in their email.

I will venture that this is because if they priced at zero, they would be admitting that it is game over and have to pay out shorts. IG are pricing it at 0.0001p and not allowing shorts to close at that price.

Asagi (short TCG)

[mallorca 9] 22/11/2019 18:13

Had to phone them to sort it out but all done now - feeling flush and Mrs Mallorca is very pleased.

[asagi] 22/11/2019 15:57

cheers mallorca 9 - the same experience here. Do endeavour to report back, won't you.

Asagi (long TCG)

[mallorca 9] 22/11/2019 15:37

Just checked my account - there is a wad of free cash available but the position is still showing at the suspension price. Looks to me as if the margin has been freed up but that the position has not yet been closed down to zero.
Will speak to IG at 4.30pm if it hasn't sorted itself by then.

[asagi] 22/11/2019 15:06

it hasn't happened in my account. 'Latest' price still showing as 3.451 at 15:06.

Asagi (short TCG)

[mallorca 9] 22/11/2019 09:36

3pm today positions move to zero pence and are forced closed.
Longs have to cough up or have other positions closed out to cover loss.

[asagi] 22/11/2019 08:08

IG DID NOT move to 100% margin but did continue to charge for TCG positions.

My TCG short position is still open with IG as of a few minutes ago.

Asagi (short TCG)

[mallorca 9] 22/11/2019 07:37

Payday :-)

Mrs Mallorca is very pleased.

[sentimentrules] 19/11/2019 19:53

Don't forget my positions in DEB Carillon and TCG too haha

[sentimentrules] 19/11/2019 17:18

Hpcg

Ive read many a T&C for brokers. Not IG I admit.

They say that in such a situation they could ram up margin requirements ?

Never came across that before

[mallorca 9] 19/11/2019 17:03

And a very handy £40k arriving Friday.
Mrs Mallorca will be very pleased.

[hpcg] 19/11/2019 16:22

I thought it was obvious from the email that positions were closing at zero. It the same format as they usually send out, and I'm pretty sure you've received plenty of those Asaghi. Did IG change margins on TCG shorts? Never happened to me, not that it would have mattered to my account. I'm not sure why people complain. These are the rules of the game, or more specifically the terms and conditions, and waiting for the zero has netted far more than closing early. These certain zeroes are the best risk free investment it is possible to make so I'm just thankful it is possible.

[mallorca 9] 19/11/2019 09:44

I've just spoken with IG ….

yes , it is correct that the share price will be moved to zero at 3pm on Friday 22nd.

The positions WILL be forced to close out and profits will be paid out on shorts.

They say that clients will receive an e mail confirming this later today.

:-)

[asagi] 19/11/2019 09:37

Anyway I'm just thankful that they will finally pay shorts this Friday.

I'm hoping that is the case but it is not explicit in IG's communication. It will be priced at 0, doesn't mean that we can close, get our profit and our margin back.

Asagi (short TCG)

[mallorca 9] 19/11/2019 09:24

Margin was increased to 100% in September.

Anyway I'm just thankful that they will finally pay shorts this Friday.
It has been tying up a lot of cash.

Longs will now have to stump up their remaining loss - or have other positions closed out.

[sentimentrules] 18/11/2019 23:56

I wonder how many they squeezed out with increasing margin ? Basically stealing client profit

I thought margin increase usually occurred in massive trading shock volatility looool

[sentimentrules] 18/11/2019 23:53

Simply sucking money out of loyal clients. Everyone should leave them