CFD for Palantir had 40% percentage spread after listing

I bought CFD for PLTR today, and spread percentage jumped to 40% all of a sudden and my position was forced to close. How can a 1:5 leverage product have a 40% spread percentage? did this happen to anyone else?

Probably due to high volatility… T212 has to make sure it’s not losing money when the market is showing signs of going haywire :slight_smile:

I enter $PLTR with £298 (whole account) @ 10.25, it automatically puts me down 30% as the premium for entering the BUY trade so im close to postion close. When $PLTR opens on 212 it drops before shooting up and that drop didnt happen on any other broker so its a fault of 212’s and a glitch that i got my account wiped. If this didnt happen my acoount would be up 50% plus. Why does this even happen?

We’re working on compensating everyone that was affected, the spread shouldn’t have been that high.


You must be joking, if T212 or anyone who can see “signs” of market going haywire, they would be millionaires if not billionaire.

40% spread on 1:5 contracts is already a dead bet.

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What I mean is that the T212 system is constantly adapting to market conditions in order to manage CFDs properly. It doesn’t mean that the system is able to predict any outcome for the signals it’s getting. Otherwise yeah, they would be very rich !
So if a stock goes through some kind of disruption (like a micro crash), it would be the same for the CFD. I though maybe something around those lines might have happened. In a situation like that you would have a massive spread because of massive uncertainty.
A similar thing happened here apparently. There’s been a mistake done by someone and the system adapted to it in order to stay relevant. And you all got screwed :smiley:
Good news is you will all get your money back.

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Well they said it themselves. Their spread "reacts to the current market conditions such as volatility and liquidity”.

I didn’t say it is not a variable spread. T212 has maintained that they have a unique variable spread, unlike other brokers.

I’m pointing out that machines can’t predict markets going haywire, albeit they sure can manipulate it.

I don’t do CFDs anymore, but all the best to you guys, T212 will refund all users affected.

No big deal but I never said they could. I said they can identify signs and adjust to them in order to remain relevant.

You’re right. As Buffet once said, you got three ways to lose money: drugs, women and leverage. He was right :sunglasses: (you gotta be absolutely nuts to leverage on an IPO)


He was right :sunglasses: (you gotta be absolutely nuts to leverage on an IPO)

It isn’t nuts at all. It’s a great way to make money if you play your cards right.

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One reason why I do not touch CFD’s. They are open to manipulation by the broker when it suits them.
Imagine how many other little manipulations could fly under the radar unnoticed. The only reason this was noticed was due to the ridiculously high spread.


I understand this is now being resolved/compensated. Do you mind stating what the difference in Buy & Sell price was?

I wouldn’t do it but if you’re good at it that’s great :wink:

sure, I just checked the graph, the 1m data at 30.9.2020 18:42 shows that ask at the close was 12.99 and the bid at the close was 8.81. so spread was 4.18.

On a different note, all my losses have been compensated this morning promptly, thank you trading 212