Just to throw some more info, Trading212 a broker similar to RobinHood which uses IB as intermediary has officially annouced that they will stop the opening of new positions for GamesTop and AMC. I don’t know if other brokers might resort to that.
Don’t quote me, but is not even Robinhood currently barring people from opening new positions in GME?
Edit: WSB is full of hate for Robinhood right now.
Just checked on the Discord server and yes, a lot of people are reporting on this, not only that but the other meme stocks are also unavailble to buy, BB, NOK and so on.
Can’t they get sued for that? I don’t see the reason they block stocks.
People are sending complain emails to Trading212 and making noise on their forums by reminding them of their own Terms of Service stating the following:
5.2. We may assess the appropriateness of certain complex products for you by reference to your knowledge, experience and understanding of the risks involved. We shall warn you of this if we think the Transaction is not appropriate for you. You shall be solely responsible for your decision if you decide to proceed with the Transaction after receiving our warning.
Not only that but a few people over in the UK have been contacting the FCA (Financial Authority in the UK), so they can get into trouble by doing this.
How is this even legal?
It is not to my little understanding.
It would make sense if Citadel loses money on the short squeeze.
EDIT: it does: they bailed out Melvin for $2.75B…
Shady stuff, that’s for sure. I am for now very happy that IBKR is working fine for now. Just bought the dip.
? How do you do outside of opening hour trades?
IBKR lets you buy through Frankfurt. You just have to mark “Buy outside RTH” when putting it in.
Before Hours down by 20% I guess something’s going on over there lol
the attack of the short sellers
O.o IB automatically deletes my orders for 4x250USD…
Exactly, I am having the same problem!
Guyssss I am dying here. Aaaand it is already halted for the first time.
I would not expect this from IB.
It’s a free market economy, except it’s not that free, and it’s disconnected from the economy
EDIT: or is it the failsafe when there is too much volatitlity ?
EDIT 2: it’s not a failsafe for volatility if you can only close your position, isn’t it ?
I feel this is an attack on one of the foundations of the free market: the stock exchange. This bullshit about protecting from volatility is just sad. Big guys showing the little guys who makes the rules…
After not being able to trade GME on IBKR yesterday because of “technical issues”, I am glad I went already balls deep during todays European trading hours. Now I am just going to sit back and watch wall street burn down in front of me.