Trouble buying shares

[Swans321]

I have just sold shares from me share account and transfed the money to my isa, i am now trying to buy shares in my isa and it keeps telling me  You are currently restricted from opening any new positions on your account. Any help would be appreciated as i have just tried calling IG but gave up after 80 minutes of waiting 🙃 

[BigDeal]

Not entirely sure, but have a couple of suggestions why you may be having an issue:

Is it a new ISA for this tax year, or one that you have with IG already? If a new one you've just set up not sure what the issue is.   If the latter I believe you need to have funded it in the previous tax year (ie 2020/2021) for you to be able to trade immediately. If your IG ISA is older than that and was not funded last tax year you will need to get IG to reactivate it.

Alternatively, although you've sold shares on your sharedealing account and can trade with unsettled funds in the same account, you may find they are classed as unsettled funds when you move them to your ISA? 

 

[Swans321]

Hi, no this is an ISA i have had for over 2 years so just funded it with shares form my sharedealing account but it wont let me buy new shares, and the wont answer the phone its very frustrating 

[BigDeal]

So if this is an ISA you opened before the 2020/21 tax year, and you did not place any cash into the ISA in 2020/21 it will be restricted until you get IG to reactivate it before you can trade with new funds.

[Swans321]

No i funded it last year, just cant get to speak to anyone 

[BigDeal]

 OK.  that was the issue for me, so sorry cannot help further.  Good luck.  I had a query about something last weekend and got through to someone quickly on Saturday morning. I know that doesn't help if you want to trade now or tomorrow but may be a good time to call them.

[Swans321]

Ok great thanks i will try thm Saturday 

[Swans321]

1 hour ago, BigDeal said:

 OK.  that was the issue for me, so sorry cannot help further.  Good luck.  I had a query about something last weekend and got through to someone quickly on Saturday morning. I know that doesn't help if you want to trade now or tomorrow but may be a good time to call them.

What the number you called?

 

 

[BigDeal]

I got through on 0800 195 8009 and then option 2.   I got the standard 'we are busy' message but connected straight after the message. 

[Swans321]

Great  thanks ive been calling 0800 4096789  for 80 minutes lunchtime and 35 minutes on the way home from work