IG Group Suspends New Account Creation During Market Instability

Discussion in 'Forex Brokers' started by mlawson71, Feb 3, 2021.

  1. mlawson71


    The London-based broker IG Group has suspended the creation of new accounts, announced the broker. The reason behind that decision is the number of technical issues they have due to the recent Reddit-inspired Gamestop situation.

    The CEO of the company, June Felix, wrote an open letter to their clients: “We are in the midst of an unfolding situation in global markets which is attracting a significant number of new traders to trading platforms to buy particular stocks in a coordinated way…This has caused a significant increase in trading volumes and demands on our platform.”

    The CEO also assured their clients that future issues will be dealt in a more subtle way.
    I wonder what other brokers will do that. The Gamestop drama will have consequences.
  2. ZBZB


    You cannot trade GME at IG.
  3. paget


    note that they are buying tastyworks
  4. thursday


    Make sense to why this is happening.