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CANNOT CLOSE POSITION


MikeBamber

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Guest TomDickandHarry

This is so F**D!!!!!!! this happens every few weeks. so unreliable. why can't they provide a stable platform?

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7 minutes ago, Mrblair said:

Been waiting for 17 mins now and still no answer

I just get a dead line noise when I call both the help line and the dealing line

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46 minutes ago, MikeBamber said:

Both through the web platform and ProRealTime... I cannot close out an open position on US500... IG are you going to refund any money lost because of your techincal error?

This has happened in the past and they have refused to pay for the losses. If it’s a small amount don’t even bother, if it’s above 10k + get a lawyer. 

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3 minutes ago, Binny said:

IG SHOLULD BE HELD ACCOUNTABLE FOR ANY LOSSES.

CAN ANYONE TELL ME WHY NOT ?

I think they will go bust....LOL
Very disappointed, definitely moving out of this platform.
Wanted to cut my losses but can't and the losses keep mounting...WTF right

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Guest Neopolis
39 minutes ago, oxygen4life said:

Just saw the following

 

I am taking screenshot of all my attempted calls, and if they don't fill my order at the agreed price.

This will be raised as a complaint 

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Thank you for your posts and apologies for the platform issues. 

You can check the progress here: https://status.ig.com/

If you've had trades that were impacted but are now closed please tell us which ones at helpdesk.uk@ig.com. We will help traders if the issue was caused due to our error. 

Please only call us if you need to close a positions. The number mentioned in this chat are correct we're just very bsy at the moment. 

Apologies again from IG. 

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2 hours ago, jim7519 said:

not that long

Absolutely !!!! Everytime there's high demand.  Happened to me on 9th March'20, when markets collapsed and all PIs tried to login, issued continued on the 10th March and days after. THEY ARENT SPENDING ENOUGH ON IT INFRASTRUCTURE. They gloat how great its been for them lately with extra commission, staff bonuses and new clients signing up but their IT system cant cope!

- READ THEIR RNS #IGG $IGG.

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2 hours ago, Areyousure said:

has this happened i the past?

 

Absolutely !!!! Everytime there's high demand.  Happened to me on 9th March'20, when markets collapsed and all PIs tried to login, issued continued on the 10th March and days after. THEY ARENT SPENDING ENOUGH ON IT INFRASTRUCTURE. They gloat how great its been for them lately with extra commission, staff bonuses and new clients signing up but their IT system cant cope!

- READ THEIR RNS #IGG $IGG.

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Guest d9nys

This is a major embarrasment to them. Its like we are being targeted and cant close or do anything and they dont answetr thier **** phones.

for some reason my OPEN poistions are not showing and I cant do wnything to my positions.

This is embarrasing to them and its not a good look at all

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On 22/05/2020 at 07:18, Areyousure said:

Did they fully refund your losses?

I am in the process of getting a refund by going through the complaint process and have escalated it to the Financial Ombudsman Service. I will also write to the FCA and complain about their shoddy service.  IG request you to first file a complaint and responds within 8 weeks.  They will end up fobbing you off and might offer a derisory offer (for me it was £1k, but my losses was FAR MORE!)  if you are not happy with their response then you can escalate matter to FOS which I have since done and am awaiting their response (which can take 6 months or more!).  They are very busy and feel IG purposely relies on private investors are put off complaining and taking the matter further, so offer a miserly amount hoping PIs accept it and just move on and are happy to let the FOS make the final decision, knowing that many wont go down this road thereby saving money by not automatically refunding PIs and passing the buck.

I feel due to platform not working (not being able to login) and phone system down violated their own T&Cs being able to trade and there are a couple of statuory laws which I feel favour the private investor.  These are, 'fitness for purpose' under Consumer Rights Act 2015 section 4954 (Consumer's rights to enforce terms about services) and 55 (right to repeat performance), as well as 'the level of care' as stated in the Financial Services and Markets Act 2000 whereby "(e) the general principle that those providing regulated financial services should be expected to provide consumers with a level of care that is appropriate having regard to the degree of risk involved in relation to the investment or other transaction and the capabilities of the consumers in question."

IG are expecting to refund PIs as in their 24th April'20 RNS qith reference to increase in the provision of bad and doubtful debts, which in my opinion relate to clients losing money money from IT failure. https://www.investegate.co.uk/ig-group-hldgs-plc--igg-/rns/trading-update/202004240700037217K/ "Operating expenses, excluding variable remuneration, are now expected to increase by around £40 million in FY20, to £300 million.  The further increase in costs reflects the impact of the growth in the active client base and the high levels of client activity in Q4 and an increase in the provision for bad and doubtful debts.

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