@Supraman Stocks, even for PROs, have a maximum leverage of 1:20 so no, they won’t be going from 1:500 to 1:2.
@Brissles1 And everyone who was negatively impacted is in the process of being compensated.
Will the leverage change at least bring maximum quantities, swap fees and spreads back to normality?
How did you get offered 1:300 leverage? Do you have a Pro Account?
so i have a position in palantir at 15 and its nearly 30 now, will i be compensated?
Sorry @David. My mistake.
Is Trading 212 going bust?
What do you need compensation for?
This change means you require more margin to keep your profit open. So either top up with more funds so you have the correct margin or your position may (if you do not have enough funds in the account) be automatically closed - profit doesn’t disappear.
yes but its going to close my 5x position to a 2x, negatively affecting me, if i was on another broker that did 5x i would’ve incurred no loss
No other broker with millions of users would randomly decrease the leverage.
I still don’t see how that is a monetary loss to you.
It is going to be the same number of contracts just more margin required to keep that position open. If you do not have enough margin you will receive the running profit and the position closed. If you do have enough margin then nothing changes in terms of profit (unless I’m misunderstanding something here).
Agreed Ben, as a fellow palantirian were up a lot and can’t just rebuy our shares somewhere else as they have tripled this month alone
As the guy below me stated, we miss out and have our positions forcibly closed with little warnings, i couldnt even plan my exit
One day notice when the stock market is closed and then has a half day tomorrow is not adequate time - we will have one hour in order to adjust and sell our positions or fund our account, it’s unbelievable
Yeah fair enough, although you can avoid that by increasing the level of margin in your account i.e. adding more funds.
Still don’t see that as a monetary loss. The guy above who got compensation for the McDonalds $37 spread was a different issue.
It’s not just the margin change, the spreads have been increased, in some cases a lot. We received no warning nor explanation, as far as I’ve seen.
This was hotly debated yesterday, but no staff were to be seen.
Yeah I’ve complained extensively about the awful spreads, increased swap fees and the limits of number of contracts - but I’m not talking about those issues here. I’m purely talking about the leverage change.
Yeh its just a bit off a mess, maybe if we have a week warning to plan exits and take best profit but we have 1 hour as market was closed today
Who’s up for a “class action lawsuit”, if such a thing even exists in the UK!
As we/I’d have had 1 hour notice as market was closed today, will I/we compensated especially in positions which are rallying currently like PLTR if we dont have enough funds to cover margin change?
Why on earth are you defending this despicable decision?