How to challenge anomalous spread on an ETF?

[Barney1616]

 

An ETF instrument I use currently shows a 0.6% spread, approximately 6 times the usual spread on an ETF. What is more, the inverse fund corresponding to it currently shows a 0.1% spread as one would expect, leading me to believe the spread is in error. This is not a temporary glitch - the spread has been about the same for a month. This is in a spread betting account, by the way.

Can anyone suggest how I might "appeal" the spread? Obviously IG can charge whatever spread they wish to - but in this case it does look like it might be an error on their part.

Many thanks

 

Edited July 17, 2020 by Barney1616

[DoctorStrange]

Same thing here - today SLVP.P ishares MSCI silver miners ETF was showing a $0.40 spread on a ~16.60 mid price. - that's almost 2.5%!! Which is a bit ridiculous.

Global X silver miners ETF was showing  ~0.4% spread which looks more reasonable?

Can someone from IG look into this?

[dmedin]

@CharlotteIG frequents this forum occasionally...

[DoctorStrange]

SLVP.P was showing an ~8% bid offer spread today which is mind-boggling, given that SIL.P at the same time had a spread of 0.8%. I only noticed as well as the inflated spread caused my position to show an unexpected loss.

I asked IG help on chat if there was a mistake and they said no. 

Only thing to do I guess is to follow the complaints procedure:

https://www.ig.com/uk/complaints