Dutch Anon here..about GME, AMC, BB, EXPR, KOSS et al
Have not seen this come by so here you go.
In the Netherlands we have a small number of trading companies for the 'little guys'. One of them is Tradersonly. They interface to International Brokers (IB) for their trades. I don't know if you;ve seen the news coverage (i believe yesterday) of the IB founder and his condemnation of the dispicable actions of the Reddit little guys? Well, they took action alright, and here is the result trickling down to the subsidiaries. In this case Tradersonly in the netherlands.
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We are seeing unprecedented volatility in GME, AMC, BB, >EXPR, KOSS and a small number of other U.S. securities >that has forced us reduce the leverage previously offered to these securities and, in certain instances, limit trading to risk reducing transactions. IBKR currently has no restrictions on trading shares in those companies, and customers can open or close positions in those shares. Like many other brokers, >IBKR placed options on certain of those stocks in closing only earlier this week. The plan is to lift those restrictions in an orderly manner while closely monitoring market conditions. To be clear, IBKR has not restricted clients’ ability to close existing positions in any of the U.S. securities subject to market volatility, and does not plan to do so.
The limits IBKR has placed have applied to all customers and were not limited to “retail clients” or any other group.
In order to keep you up-to-date on this fast-moving situation, we have put together a Knowledge Base site with current information on margin requirements and any trading restrictions for this group of securities. This site will provide the relevant information on the securities in one place, in addition to your existing ability to preview margin requirements prior to initiating a position and monitor them afterwards. Click here to review this Knowledge Base article.
We also invite you to visit the website for additional information regarding margin requirements and managing the risk of your portfolio
• For information on previewing margin requirements prior to order submission, click here.
• For general information on margin and margin requirements, click here.
• To monitor your portfolio risk using Risk Navigator, click here.
We understand that you may have experienced occasional market and systems delays or interruptions as a result of this week’s extraordinary volatility. Please be assured that IBKR is doing everything possible to keep you informed of developments that might affect your trading decisions. We appreciate your patience, and regret any inconvenience that you might have experienced over the past few days. Thank you for the trust and confidence that you continue to place in Interactive Brokers.
TradersOnly
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Upon my action to notify friendly Anons of this market manipulation, and trying to forward the message it wouldn't go through. I'm using Gmail by the way. Now bear in mind that for years I have not had any messages I sent to anywhere blocked on server side for any reason whatsoever. I tried various ways to get the code that is manipulating my ability to bypass but in the end the only way possible was to select the text only, and copy paste it into a new message. (Pic related.)