IG – one of the UK’s largest trading platforms – has become yet another name on the list of brokers who are preventing users from buying shares in GME and AMC. The move has taken place just as the hedge funds were on the ropes, and users have been left frustrated.
This has shades of the Robinhood situation, a similarly unacceptable state of affairs. The gamma squeeze on a variety of heavily shorted stocks has lost Wall Street an alleged $70 billion in a matter of days, and there could even more losses to come this week.
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If you still want to get involved in what promises to be a dramatic week, here are some alternatives to IG for individuals who want full access to a fair market.
What are IG alternatives (UK/USA) to trade GME, AMC, BB, & NOK?
If you aren’t keen on your online broker preventing you from having free access to the stock market, it’s time to find a trading platform with a level playing field. We have reviewed most of the top trading platforms, but here is a list of IG alternatives that – for now at least – continue to allow users to buy shares in AMC, BB, GME, and NOK.
As one of the most reputable and popular trading platforms in Europe, eToro offers share dealing and CFD trading services in a wide range of asset. CopyTrader is eToro’s exclusive service, which allows individuals to automatically open and close trades based on the actions of top investors. Most importantly, users can still buy GME and AMC stock.
Fidelity has remained strong throughout the WallStreetBets saga, even when other platforms have leapt into bed with the hedge funds. It continues to be a platform where users can freely purchase stocks, including GME and AMC.
Plus500 is a European powerhouse of an online trading platform, and users can still buy new shares in GME, AMC, BB, and NOK.
IG shows its true colours: ‘extreme volatility’ an obvious excuse?
The announcement came out on both IG’s official Twitter and website, leaving users frustrated and feeling cheated out of their financial independence. As many users have stated, they never would have opted for IG as their broker of choice if they knew what was on the horizon, and they will be seeking an IG alternative with immediate effect.
Users on IG’s community forum have pulled no punches…
‘You have 2 choices, 1. Sell your shares back to the hedges, just like they want, or 2. Hold and watch them wet the bed, eventually having to buy at the price WE SET and us little guys make some money.’ChristianMike, IG user
GameStop’s website statement has done little to appease the masses.
To prioritise the service we give our existing clients, IG is not currently allowing any new positions on GameStop and AMC Entertainment.IG’s website statement
I guess the service being provided to GameStop and AMC shareholders just isn’t as important.
IG users voice their frustration
Users of IG have been very active on social media in the last few days, decrying the platform’s lack of resolve and trustworthiness.
We hope platforms that have blocked the free access of investors to the stock market to protect the interests of hedge funds will face the repercussions for their poor decisions. In the meantime, the fact that there are more platforms to use is a reason to feel positive.