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IG Unethical or Criminal?


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I have some deep concerns about a recent application for a SPP.  Upon application with IG, they removed $2500 from my account.  The company issued their shares.  Other people are already trading, yet I have not seen a share or a refund.  Two days on and my emails are not being answered, and phone calls are placed on hold for indefinite periods. On face value, I think that someone at IG has engaged in some form of cash movement to benefit them or even perhaps theft. 

Has anyone else had this experience?

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    • Hi KoketsolG, Thank you for your prompt response. However, that does not provide me the definitive understanding I desire.  1  Chart Price Units The first and fundamental question is what are the units of the chart price scale amount of 44,271.6 shown for High Grade Copper (US2.50) and High Grade Copper (A$1)? It is in US$, US cents, thousandths of 1 US$, ten thousandths of 1 US$ (what it looks like it could be), etc per Tonne or kilogram or pound? This leads to the question of "What is 1 point and 1 tick"? If the quoted 44,271.6 is in units of ten thousands of a US$, then is 1 Point = US$1.00, or  is 1 Point = 1/10,000th US$, (more generally, the digit unit immediately to the left of the decimal point)? It is assumed that the Tick value is the amount to the right of the decimal point. Similar questions apply to the Copper and Copper ($5 min) CFDs that are priced around 9,300. 2  Underlying Futures Contract Also, according to the IG Base Metals Contract specification the Copper Contract is 25 metric tonnes, and appears it is quoted in US Dollars. However, the only High Grade Futures Contract I've been able to find using Google is the CME Copper Futures Contract which provides a contract size of 25,000 pounds, which is specified as quoted in US Dollars. Thus it is unclear to me as to the actual underlying market upon which the IG Copper CFDs are based, and hence if the chart price unit being applied is price unit / kilogram or price unit / pound. There is a further complication with IG's Copper CFDs. There are 4 IG Copper CFDs: Copper, Copper ($5 mini) High Grade Copper ($2.50) High Grade Copper (A$1) The prices for the first 2 appear to be identical, currently around 9,300, while the later two have prices currently around 42,700. So what is the underlying Future Contract definition for each of these 4 CFDS? Cheers Trevor
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