Actually it is the clients who basically give their. Who is to blame, that is to find out, is it bug, is it t212, is it pseudo science.
But all of you can stop using cfd until “corrected”.
So to be politically correct, who ever gets “robbed” now, is handing the on his own free will.
I’m pretty sure they will come up saying it’s somehow covered in their T&Cs. Sick
Just for a giggle, have a look at CALNEX. See what the prices they’re quoting compared to the LSE. They’re even not remotely representative of the market. This is supposed to be a financial instrument.
Yes CFD’s have spreads, but this is equivalent of going to the bookies with a 3-2 win and finding out when you get there they’ve made up their own score of 1-4.
Doesn’t work that way my friend. Your thought is good for taking new positions.
whoever has opened positions before all these happening stand to lose money heavily. This is not right.
That is a good point, also proper way to communicate.
Keeping it civil, factual discussion can provide benefits for both sides.
We can wait and see how @Team212 responds on the subject.
What does anyone recommend as a reputable source for pre-market data?
I’d like to gather further evidence.
BOO this morning had a spread of 30p, usually only around 2-3p
Luckily I have good positions and it hasn’t affected me too much however people with fresh positions will have been hit very hard!
i’m new to the community and this is the first time i’m writing a post.
What i m seeing today with spreads changing costantly and becoming huge ( we are talking about 20-25% spreads) it’s just money robbery.
Of course nobody is going to open new positions with these levels of spreads, but this is impacting hugely people with opened positions.
So please don’t comment something like ‘stay away from cfd’ or ‘do not trade cfd today’.because as i said nobody will trade cfd today but this is affecting heavily opened positions.
It’s obvious that if t212 sets a 25% spread on a leveraged position, this could activate the stop loss.
This is either an intended fraud or a bug, in both cases t212 has to give official explanation about what’s going on cause this seems extremely fishy.
Please as members of the community how can we ping someone from the t212 assistance to ask official explanations?
Contacted through Chat on Monday and yesterday but no proper response. They are blaming their intermediary.
I can only tag the T212 members I know of - @David @Martin @L.D @JimLahey
I would like an explanation and evidence showing why spread and price action on the platform led to a 25% change in my margin leading to 3 positions closed totaling a £728 loss.
I appreciate there is a lot for the T212 team to respond to at the moment with outages, processing issues, instrument suspension and now wild spreads and skyrocketing interest rates but this could be a turning point for them if they don’t get their response right judging by the reaction across various media and social platforms.
T212 - How can I talk to you further about this case?
I tweeted them in Twitter let’s see if they look in that at least instead of doing nothing about this.
@trading212 is their Twitter handle
Thank you a lot for the reply. of course this is not enough from them, cause we are trading with them, using their platform and deposit on accounts managed by them and not by their intermediary and i’m not even interested knowing who that is. Correct?
Thank you very much for your reply Slyster.
My personal feeling about it? there is something big going on here. The fact that nobody from the @JimLahey is giving real explanation is extremely fishy
Is it me. Or is the spread in Nio is 1.338$ if i buy it?? It wasnt this wide before.
You think that spread is bad??? Look at this one
yes I’m also seeing ridiculous spreads and also limited exposure to nearly all stocks, I don’t understand why they are limiting so much. Perhaps too many people are making money on the platform. Anyways hope it gets fixed soon.
Whilst cooler heads can prevail momentarily while spreads are a little tighter.
I have received this info from T212:
Given the extreme market conditions right now, it’s becoming increasingly difficult to efficiently hedge exposure to popular instruments.
This, unfortunately, requires us to take measures in order not to exceed exposure limits. We have decided not to increase margin requirements (decrease leverage, which would mean a potential stop-out) but rather increase the spread.
Of course, this raises more questions for me and this info should be more widely available, however, they are looking into the positions that were closed on my account and the price action that resulted in it. Hopefully I will hear back sometime today.
Response from T212
Thank you for reaching out to us.
I would like to confirm that depending on the market conditions (volatility and liquidity), the spread can vary throughout the day ‘Floating’.
Floating spread means that it might change depending on the market conditions, the liquidity and volatility of the price, and the instrument. Especially, when the market opens, the spread might widen due to the many pending orders that are due to be executed at the time the instrument is available for trading thanks to the increased liquidity.
Should you have any further questions or concerns we remain at your disposal.
Those two responses from them are completely contradictory to each other. The first being the truth, the are reducing their own risk exposure.
Anybody else having trouble logging in now? I was in the process of closing out positions to move out my money from this shambles, now I can’t get into my account on either my phone or the computer.