Crackdown Arrives: Interactive Brokers Joins Robinhood, Blocks Buying Of Gamestop, AMC, Others

The report was corroborated by additional sources shortly after 0830 EST.

Users are reporting the same on Twitter.

There are also scattered reports that the app has restricted BlackBerry. Users on social media are furious:

Developing...

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William K. 2 months ago Member's comment

I am wondering just how all of those folks who bought could make the money and get rich. My understanding of the way to "get rich quick" in stocks is to buy low and sell high. The problem arises when nobody wants to BUY HIGH. Holding shares with inflated prices does not seem like a good plan, but rather to unload those shares, take the money, and run, or at least step back a bit.

Of course Ido hope that all who gambled on being able to sell before the turn-around did not invest more than they could afford to lose.

Alexis Renault 2 months ago Member's comment

This is all so baffling!

Flat Broke 2 months ago Member's comment

$GME and its like: I am watching Thos. Peterffy of #InterActiveBrokers on Bloomberg who shut down trading by retail on this short squeeze and options. I had considered a switch to his platform, but his poor defense of his actions and the disproportionate effect on retail investors is morally indefensible. I don't trade this stock or its options, but I would never trade on #RobinHood, #IAB, or #ETrade for this action. They are fine with the short shenanigans of large traders, but when retail profits they shut it down. They should all go down in a fiery then smoldering, continued, very expensive litigation. The market is, clearly, rigged against smaller players and this is perpetuated by the brokerages that serve them. Liquidate SAC or those who made naked shorts, not those who saw their error and tried to, very legitimately, profit.

Jimmy Richards 2 months ago Member's comment

No, he’s legit. He's scared $GME will cause a financial crisis. If clearing house goes tits up then whole market will dump and hedges are broken

Flat Broke 2 months ago Member's comment

Liquidation of accounts is automated. Mr. Peterffy is concerned not a whit with the integrity of markets. He's concerned with his vast fortune.

Jimmy Richards 2 months ago Member's comment

I don’t think so he’s a former option guy. He’s figured out apex is fucked and they can take down retail brokers and the entire options market. It’s like 2008 but through apex then occ

Flat Broke 2 months ago Member's comment

I haven't tallied the actual financial impact of these options trades, but naked shorting is illegal, to the best of my knowledge. As such, recouping should be possible through clawback of the stocks written upon. If, on the other hand, they have permitted the writing of naked shorts, those brokers that have permitted the same should suffer the loss if they cannot liquidate the position upon which options were written.

Flat Broke 2 months ago Member's comment

Options trading is, inherently, zero-sum. There should be no net loss unless naked shorting occurred and was permitted on a large scale.

Jimmy Richards 2 months ago Member's comment

it’s not about short shares it’s about short calls. If the short calls end up far Itm like $400 then apex will go bk and most brokers will too.

Daniel Charles 2 months ago Member's comment

It's not about short shares it’s about short calls. If the short calls end up far Itm like $400 then apex will go bk and most brokers will too

Dan Jackson 2 months ago Member's comment

The option software screwed up and overwrote.

Bill Myers 2 months ago Member's comment

Sounds like textbook moral-hazard to me, but I understand the concern for systemic contagion. Hopefully, there are no cryptocurrency derivatives!.

Samantha Wolf 2 months ago Member's comment

You can still buy game stop on Webull. $GME

Adam Reynolds 2 months ago Member's comment

I don't understand why anyone would want to buy $GME now. It's completely overvalued at the moment. No way it's worth that much!

Stock Picks 2 months ago Member's comment

What's going on is absolutely insane!!!!!!!!