The market has seen a high volume of trading today, this has snowballed resulting in a degree of panic selling. Selling for no reason other than the price dropping is not a good trading strategy. In reality the yield value of these players is much the same as it was yesterday.
Our risk management team want to protect customer portfolios and will be using tools at their disposal to deter panic selling, including varying Instant Sell availability and size of spread until the situation calms down.
Feedback from social media is that this was triggered by ‘uncertainty’ around what has become known as ‘penny stocks’ (although there has never been an intention to sell them cheaply and dilute the market).
We totally understand the sentiment. Uncertainty is not good for Traders or markets and we sincerely apologise for any delay in clarity around this feature. No statement has been made as we’ve been working hard on the best solution that:
1) Protects all our existing Traders and the value of their portfolios
2) Delivers the best possible product that which will continue to drive millions of new Traders into the market.
We’re working hard to make Football INDEX the best it can possibly be and thank you for your support.
We will make a further statement tomorrow regarding new product features.
Football INDEX – CEO & Founder