At least their clients got some warning.
Donāt forget this also shakes people out of current trades. Itās not just to make it unattractive to people thinking of opening a trade.
Pls give an example for the this reduction for better understanding.
For example if I have 10k exposure using 2k capital, tomorrow by 3pm it should be reduced to what level?
Thereās a family member of mine thatās in hospital and I know they have a long in NIO since around the $14 mark in CFD. Itās around 150-200 shares from my recollection.
As they are on a life support machine, what procedures is in place to give him a chance to close his position in a profit before company changes the contract in which he agreed to at time of initiating trade?
@David, in the thread on the upcoming margin requirement changes you mentioned that all affected accounts by this spread volatility were in the process of being compensated.
Can you please clarify this? This is the most public comment on this to date.
Do we know what caused the spread volatility yet? Iām assuming it wasnāt just the underlying spread because otherwise I assume Trading 212 wouldnāt be compensating anybody.
Their customer care team confirmed to me that they adjusted the base spread.
So why are they compensating? Did they make a mistake? Was there a system error? Was what they did illegal or at least unethical?
Beats me, keep asking David that, no response.
Potentially a gag order in place from management to stop them incriminating themselves? Who knows.
It honestly feels a bit like this. They were obviously deciding what their official public response was going to be. It seems theyāve decided their stance for the leverage change, but no news on the spread changes.
Folks this is just my opinion wether it makes sense or not is yet to be seen lol
Up until the last few weeks weāve all been happy with the services, fees etc here on the platform. If we could wipe this āblipā out I would therefore imagine the community would still be happy to avail of the services here.
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Could t212 not charge a fee for accounts? Nothing drastic Ā£15 for account, Ā£10 per year service fee. Times that by 300k+ members would put a nice amount into the pot for hedging surely?
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If t212 was to go publicly exchanged would it not benefit the company, the users (as cash flow for hedging) and bring much needed funds in to get a 24/7 dedicated customer support service to answer the many support tickets being issued for whatever reasons.
Everyone, including businesses have bad days/weeks etc so it would be wrong of us to shun whatās been great over something that we as a community could possibly do to help the company and in the process help ourselves
Iām still holding my breath, personally. Have loved using this platform so Iām hoping itās just a blip.
Yeah, I love it too. I spend a ridiculous amount of time on it every day. This disaster has come completely out of the blue.
@Supraman It was caused by the large increase in the underlying base spread before thanksgiving. Example: McDonaldās usually has a $1-2 base spread during the premarket session, yesterday it was $5-6.
Understandable, but how did McDonaldās reach a $37 spread?
Why are other platforms not affected?
Why are you only giving us an hour to deal with US stocks tomorrow?
Why are you doing it on the same day that youāre forcing us out of our cryptocurrency positions?
Why canāt you give us just a few days more to plan this properly?
@David, be honest. What do you think of your companyās actions? Is Trading 212 going bust?
Can you send me a link to Trading 212ās FSCS position please?
Please could you take a moment to address my question? The selective and vague responses are incredibly frustrating.
Wow, Iām glad i decided to check the forum, my experience over the last few days with spreads was crazy, i thought Iād done something wrong, so much so i screen recorded my phone on a open CFD i was trying to exit. Happy to share if needed.
I managed to get out at a reasonable loss but have to admit i was getting a little worried, and ended up withdrawing all my funds last night as a result.
Good to know it was a larger issue and not me being stupid.
Iāll echo the thoughts of others on here though, Iāve been using T212 for a number of months now and the platform has been greatā¦ even if my trading has been questionable 
!
Its a real shame, i think T212 has a lot of trust rebuilding to do after this, and I hope they can, but these last minute and seemingly under the table decisions seem to have put a lot of peoples accounts at risk with little to no warning.
By sheer luck I got out of all my positions yesterday as i didnāt want to hold over thanksgiving, but i feel gutted for those that stand to lose a hell of a lot due to this decision.
Perhaps the trust building can begin by ensuring that these people are helped, protected or compensated in some way.
Good luck to all effected on open tomorrow, i wish you all luck.
I forgot to ask, most importantly, if thatās the explanation why are you compensating people?
Unusually large threads