For anyone that hasn’t seen this video yet of IB Chairman, I’ll say no more.
Had respect for the old lad, disappointed to say the least.
@Vedran @Dao what’s your thoughts? You both have nothing but support for the platform and rightly so, I feel the same myself. As users of the platform though whats your honest opinion of it? Its who we use as our broker here right?
Crazy times all I can say
Yep, I don’t even know what to say to that video. “Someone has to pay”.
I just discovered that Freetrade doesn’t use any intermediary and uses its own platform, not sure if everyone knew this. Can’t Trading212 do the same? Won’t this be also cheaper?
Do you have the rest of the video?
unfortunately not mate will have a look though
Anyone watch the robinhood cofounder interview? Another awful one. Whoever is paid to media train these guys is stealing a living.
they are ball less anyway to stand up to anyone so fair play to whoever it is, hope they are taking them to the cleaners
In all seriousness though, the best way to let them feel how it is would be to hit their pockets. Who do the big wigs have a vested interest in? Boycott them and blast it everywhere possible. Boycotting isn’t illegal nor does it breach any terms or conditions that we would agree to in our accounts.
Hypothetically of course, if a few million users where to stop trading for a week or two on all platforms they broker to, how much of a pinch would they feel?
What a turd. Did you see that smirk on his face when the anchor asked him about changing the game? Dude doesn’t care about what he’s doing. He obviously thinks he will get away with it. Saying it’s not illegal because it’s not in the middle of the game. Mate. I have money in this right now. I am in the game as much as I can be thanks to these magical rules you’ve just pulled out your ass.
Whole thing is rigged against us retail traders. I thought about getting worked up over it but really best thing to do is just make money whatever is thrown at us. No point getting mad and waving fists at the big guys that run the markets, they don’t even notice us.
Trading212 need to come out and denounce Interactive Brokers.
they fairly noticed us this week though
To be fair to T121 and IB, it’s looking like the blame for today lies with the clearing houses being insufficiently capitalised and them raising their collateral requirements, to the point where they would have been unable to pay out.
There was absolutely no need to T121 to patronise us and for this guy to mouth off though
my post isn’t going to win me any community support
honestly? the guy certainly isn’t a media spokesperson, he can’t win points just by looking dashing and getting the point across in a cheery manner so he stuck to the facts. I also had a small chuckle at the same point he did when the anchor very seriously asked his question because it was based on the premise that “the customer is always right”. people often have a small laugh when faced with either difficult or absurd questions.
the game didn’t change, the GM just pulled an old obscure rule from the rulebook to prevent the balance getting distorted. I have seen a lot of people referring to the hedgefund managers among others that were shorting the stocks as “evil” which is in itself a hilarious concept, because morality and good vs evil has no place in the market.
In case some people forget, hedgefund managers hold other peoples money, so when a move like this is planned in order to manipulate prices, they are not hurting some “evil hedgefund manager” they are stealing money from other individuals in the market. god forbid any pension funds held shorts on these dying stocks, people are going to see their pension wiped and WSB redditors only care that they couldn’t make more from it
there’s a valid saying I can use, “don’t bite the hand that feeds you”. these moves cripple brokers. you cripple the broker and you lose your access to the market as damaged as it becomes. how do you plan to steal your next million if you no longer have access?
it may very well be a gamma squeeze in options, but we don’t deal in options in T212 only the stocks, and in stocks alone that same behaviour is just another pump and dump, nobody believes the stock is worth the prices its reaching, they just want to ride the wave up to sell it for more to the next person in the hopes they aren’t at the end of the wave with a massive bill to settle.
gamma squeezes pushed too far reverse in direction, they don’t keep climbing.
I may be a retail investor by classification, but damned if I get lumped in with the WSB lot.
as for my opinion on how T212 handled, perhaps they jumped a bit too soon on what the rest of the market was going to do anyways. but it seems T212 can’t win even if they are too soon rather than too late, so why bother demanding updates from them at all in that case?
WSB did achieve 1 thing however, they pushed forward the move for regulations aimed at tackling exactly this sort of behaviour.
There definitely was no need for that but hey, why not get a final kick in to try scare people
I dont believe they are evil I have to agree with you. They just put themselves in a bad spot in their own game and, not by manipulation or anything else (in my opinion) they knew they had check mated themselves.
The fact that it was picked up and their own tactics that they quite happily use on the rest of us, screw pension funds, housing markets and everything else they deserved a red day.
If someone is happy enough to execute a trade with you and you lose, then they have to be mutual when it comes to them losing.
But, thank you for your input its greatly appreciated and as always, controversial lol
It’s kind of crazy, I just saw an rumoured GME trade that supposedly went through at $2600 when the market was peaking earlier owing to the need to cover shorts.
It sucks, but it looks like the clearing houses need more cash before they can switch the stock back on