Jump to content
  • 0

moved abroad - only few days left to withdraw funds



I received inconsistent messages from IG before and after moving abroad. When I asked the question in October last year what the consequences are of moving abroad I was first told that I'd be required to close my account. After asking for further clarification, a second person told me that I'd still be able to trade from my account, but that I wouldn't be able to fund it with new cash. I could live with that.

Now that I've moved to the Netherlands and notified IG, I first received a message that my ISA eligibility has changed (no surprise there). The message also confirmed the previous reply from support that I can still trade from my account. The Q&A 'What do I need to do next' only says something about US tax forms, nothing about liquidating my account.

Dear Mr xx

As you have recently changed your country of residence, you’re no longer eligible for an ISA. You can still trade from the account, but you won’t be able to add more funds.

What do I need to do next?

If you currently hold US stocks with us, you’ll need to complete and submit a new US tax form (normally a W8-BEN) within 28 days in order to maintain your holdings (...)


But then last Friday (26/3), just before the market closing time, I got this shocking email with the subject 'Important: 5 days left to withdraw your share dealing funds'


Dear Mr xx

Your share dealing account is set to be closed from 31 March 2021 since we can no longer service European Economic Area (EEA) clients through the UK.

As you have funds on your account, you’ll need to withdraw them via My IG before Wednesday 31 March. After this, you may not be able to log in to your account – meaning you’ll have to contact us to withdraw your funds.


We will close your account once it is cleared of funds, and terminate our relationship, from 31 March. Termination is given pursuant to Term 26 of the latest Customer Agreement that governs your account with us.

You will be sent a closing statement within five working days of your account closing.

Please note that the above also applies if your shares are held in an ISA.


So I have exactly 2 working days to sell all my positions and withdraw my funds.

When I contacted support about this I received this rather abusive reply:

This is not a mistake as you would have noticed and been informed that your Share dealing account was set to closings only. Please refer to the correspondence previously sent out for more information on this.

Yes I was informed that my share dealing account was set to closings only. However, I was never informed that I had to sell everything by March 31.

So I have some questions:

1. Is it possible to get an extension to clear my account? 2 working days is not reasonable.

2. What if I don't do anything? Will IG sell my positions and transfer the funds to my bank account?

3. Why on earth do you send such conflicting messages to your customers? Can't you be transparent from the start and avoid such short-notice nasty-surprise emails??

4. Could you please teach your support some manners and politeness, and ask them to try to understand the customer's situation, especially when a failure of communication on the part of IG is the cause for the customer's frustration.


Thank you 






  • Like 1
Link to comment

1 answer to this question

Recommended Posts

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Stock Market Indices Overview: S&P 500, SPY, NASDAQ 100, QQQ, RUSSELL 2000, DAX 40, FTSE 100, ASX 200 Featuring Elliott Wave Technical Analysis Elliott Wave Analysis Indices: SP500 and NASDAQ 100 S&P 500 (SPX) and NASDAQ 100 (NDX): These indices show distinct corrective patterns. Today, we'll explore two alternative corrective counts: one indicating the low is already in place, and another suggesting the corrective pattern could double in size. It's crucial to exercise caution, especially for long positions. We'll discuss optimal entry points and stop placements to manage risks effectively. Russell 2000 (RUT) Current Status: The Russell 2000 is completing Wave (iv) and is expected to move higher. We will maintain our long positions. European Markets: DAX 40 and FTSE 100 Current Status: The European markets have yet to complete intermediate Wave (4). The patterns remain choppy, making it challenging to provide trade recommendations at this time. ASX 200 Medium-Term Outlook: The ASX 200 is anticipated to trade above and below the 8000 level in a series of Wave 4s, gradually edging higher. We will stay long in this market. Video Chapters  00:00 SP 500 (SPX), SPY ETF 04:15 NASDAQ (NDX), QQQ ETF 10:00 Russell 2000 (RUT) IWM ETF 12:30 DAX 40 (DAX) 19:32 FTSE 100 UKX (UK100) 21:09 S&P/ASX 200 (XJO) 32:16 End Analyst Peter Mathers TradingLounge Source: tradinglounge com       
    • Ever feel like you're stuck in crypto traffic? Slow transactions and outrageous fees are the bane of using blockchains like Ethereum at their core (Layer 1). These networks can only handle a limited number of transactions per second, causing major congestion during peak hours. The result? Frustratingly slow processing and expensive fees for users.   But wait, there's hope! Layer 3 rollups are here to revolutionize the game. Imagine them as express lanes built on top of existing bypass roads (Layer 2 solutions). Layer 2 already helps by alleviating some of the traffic on the main highway (Layer 1). Layer 3 rollups take it a step further, adding dedicated express lanes to these bypass roads for super-fast processing. This innovative approach tackles Layer 1's congestion by distributing the workload across multiple layers, ultimately leading to faster, cheaper, and more scalable blockchain applications.   While specific layer 3 implementations are still under development, some projects are paving the way. Immutable X (IMX token) built on StarkNet (a Layer 2 scaling solution) and dYdX (DYDX token), a decentralized exchange on StarkNet, are both exploring layer 3 rollups to achieve even smoother transactions. Keep an eye out for zkLink Nova, a major player in the scalability game. This cutting-edge technology leverages the strengths of existing solutions to deliver groundbreaking performance. Backed by leading crypto institutions with over $23 million invested in the zkLink ecosystem, zkLink Nova is generating serious buzz ahead of its ZKL token listing on Bitget. Get ready for a smoother ride on the crypto highway!
    • Well, I didn't mine $PIXFI but I was able to make good profit from Bitget Poolx. 
  • Create New...