Jump to content

FAQ Brexit Update: for EEA clients


CharlotteIG

1,473 views

Brexit Update: for EEA clients - FAQs

How do I agree to the transfer to IG Europe after Brexit?

Due to Brexit your IG accounts with IG UK companies will be set to closings only on the 31st of December 2020.

We’ve established a new European entity, IG Europe, to ensure you can keep using our services after Brexit. To do so you’ll need to agree to transfer your account(s) to IG Europe by 8 January 2021.

How do I agree to the transfer?

Simply login to your account via My IG and follow the prompts.

Verifying your identity

To complete the transfer process, you’ll also need to verify your identity before 8 January 2021. Simply log in to your My IG and follow the prompts to follow the verification process. Video verification can be done on any day of the week between 8am and midnight (UK time). Make sure that you have your passport on hand, and you’ll be done in just a few minutes.

Verification can take up to 24 hours to be processed, so please get started before 8 January 2021. If you don’t verify your identity in time, we won’t be able to transfer your account(s) to IG Europe and we may need to close them.

What does the transfer involve?

Once you’ve agreed to the transfer and followed the steps to verify your ID, we’ll migrate your existing account(s) to IG Europe for you.
The platform won’t be affected, so at the time of the transfer:

Your login details, watchlists and trading experience will remain the same

The transfer may result in a taxable profit or loss for Spread betting accounts. This shouldn’t apply if you’re a resident of the UK or Ireland, but will depend on your personal circumstances

The money in your current accounts will be transferred to your IG Europe account(s)

Spread betting and CFD accounts

As part of the transfer process, we’ll need to close your open positions and then re-open them with IG Europe at the original opening levels. This will ensure that your running P&L won’t be affected

Share dealing accounts

Share dealing accounts won’t be transferred during this process.

Your account will be set to closings only and you will have up until 31 March 2021 to sell your holdings (commission free) or transfer out to a different broker.

To learn more on how to transfer out your holdings please click here.

What will happen to my funds?

Your funds will be transferred to IG Europe and placed in segregated bank accounts in accordance with BaFin’s client money rules, as opposed to FCA rules.

You’re currently protected by the Financial Services Compensation Scheme, but once your funds are transferred you’ll be covered by the EdW, which is the German equivalent.

When will the transfer take place?

The transfer will take place mid-January 2021. We will provide the exact date and time in advance so that you can monitor your positions.

Please note that between the 31 December 2020 and the migration date you will not be able to open any new positions due to your account being placed on closings only.

Where is IG Europe based?

IG Europe is based in Germany and is authorized and regulated by BaFin and Bundesbank. IGE offers a range of financial products, including CFDs, options and turbo warrants.

What happens if I don’t agree to the transfer?

If no deal is agreed, we will lose our ability to service your account(s) from the UK and they will need to be closed.

New website address

After the transfer is complete, you should log in to your account at www.ig.com/ie

You can continue to log in to your account via any one of IG’s websites, but you will need to use www.ig.com/ie if you want to find information about the products and services relevant to you.

1 Comment


Recommended Comments

Guest Richard Ball

Posted

I have tried to use IDnow but it doesn't connect to an agent after I have uploaded document.  How long does it normally take to get an agent ?? 

Link to comment

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Add a comment...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Blog Statistics

    • Total Blogs
      3
    • Total Entries
      1,089
  • Latest Forum Topics

  • Our picks

    • S&P 500, DAX 40, FTSE 100 Forecasts: Bank Earnings Trigger Risk-on Mood
      KEY TALKING POINTS:
      Global stocks rally as US earnings push back stagflation concerns.
      Investors must be aware of inflation effects in different sectors.
      • 0 replies
    • Facebook share price attempting to rebound ahead of Q3 earnings
      Facebook’s share price has fallen close to 14% over the past one month. Can its upcoming Q3 earnings reverse the bearish sentiments?
      • 0 replies
    • Dividend Adjustments 18th October 2021 - 25th October 2021
      Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 18th October 2021. These are projected dividends and likely to change. IG cannot be held responsible for any changes made.
      Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day. 

      If you have any queries or questions on this please let us know in the comments section below. For further information regarding dividend adjustments, and how they affect  your positions, please take a look at the video.


      NB: All dividend adjustments are forecasts and therefore speculative. A dividend adjustment is a <br style="background-color:#ffffff; color:#262629; font-size:14px; text-align:center">cash neutral adjustment on your account.

                                                                                                 

      Special Dividends


      N/A

       

      How do dividend adjustments work? 

      This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
      • 0 replies
×
×
  • Create New...