Jump to content

Dividend Reinvestment Plan


Recommended Posts

Hi , thanks for the post.

 

This is something that other clients have requested, and we are working on being able to offer it as an option in the not too distant future.  The aim is to introduce the DRIP on IG accounts within 12 months or so, however this project is still in its early stages and I'm afraid I can't commit to a more certain ETA at the moment!

 

Please keep your suggestions coming!

 

Thanks,

Hannah

Have a question? Try searching the community to see if it has already been answered.
Link to comment

Hi , thanks for the post, and sorry I couldn't provide a better response for you.  Offering a DRIP is definitely on our list of developments to add to the platform, but will need to wait until the new web trading platform is fully rolled out for example.

 

Appreciate your patience and hope you continue to use our platform in the meantime!

 

Thanks,

Hannah

Have a question? Try searching the community to see if it has already been answered.
Link to comment
  • 3 weeks later...
  • 2 weeks later...

Hi , thanks for the post.

 

The new web trading platform is indeed up and running for our spread betting clients, but is yet to be fully rolled out to our CFD and share dealing clients.  Once this has been done, our developers will be able to consider other changes, such as the introduction of a DRIP functionality.

 

Thanks for your patience while this is reviewed!  Do keep the suggestions and feedback coming.

 

Hannah

Have a question? Try searching the community to see if it has already been answered.
Link to comment
  • 5 months later...

Hi  ,

 

Just following up on this question.

 

We are keen to invest into several US based shares long term and frequently, having the ability to re-invest dividends and avoid frequent trading fees would be a major draw card for us.

 

The trading fees for US markets are high as they are on your platform, the functionality to reinvest would lower ongoing costs, directly guiding us and others I am sure, to bring across more trading business to your platform.

 

Regards, bosanac.

 

 

Link to comment


bosanac wrote:

Hi 
 ,

 

Just following up on this question.

 

We are keen to invest into several US based shares long term and frequently, having the ability to re-invest dividends and avoid frequent trading fees would be a major draw card for us.

 

The trading fees for US markets are high as they are on your platform, the functionality to reinvest would lower ongoing costs, directly guiding us and others I am sure, to bring across more trading business to your platform.

 

Regards, bosanac.

 

 

Hey 

 

Sorry about the delay in getting back to you. The request to add dividend reinvestment as an option on the IG platform was resubmitted to our dev priority team meeting last week. We know that there are a number of clients who would like this functionality (myself included!) so I am making sure we feed back client sentiment to the right decision makers.

 

As of yet the road map and priorities hasn't been confirmed for this next stint, but I shall get back to you as soon as possible. In fact I'll go chase them right now. 

Link to comment

hi ,

 

How did you go with the dev team re the Re-investment capability?

 

For feedback and leverage sake, I have three analysts that work with me (of eight) who have IG accounts and all agree that such functionality would make the platform a whole lot more attractive to investing long term.

 

Again, I am sure this is directly impacting trading volumes for a lot of people including my self.

 

Let me know how you go..  

 

Link to comment

Hi  - unfortunately the meeting has been pushed to December. We have a whole host of dev work being taken up with the Mifid II stuff (which is a huge European initiative and a regulatory requirement) so unfortunately these other projects have been pushed. As far as I am aware, just to manage expectations, it would at best be a end of Q1 or Q2 at the very earliest. As soon as I have any info I'll be able to update you. Apologies that this is dragging out a wee bit. 

Link to comment
  • 2 weeks later...

hi , 

 

Regret the late reply, I had issues login into the community.

 

Thanks for following up, again its worth bringing in this feature and would make the IG platform more competitive. Even if it does come in Q1 or Q2 2018...  though I would hope for IG's sake its sooner rather than later as services like https://www.robinhood.com seem attractive, the early access queue seem to back our sentiment.

 

Lastly, we notice that there is a sizeable list of US shares not available for trading on the IG platform... who can we talk to about these stocks, getting them listed and available for trading? Alternatively contact me directly for details.

 

Regards, bosanac

 

 

 

 

Link to comment
  • 2 weeks later...

Hi  , 

 

I have not heard back from anyone since my last post, likewise being very interested in the DRIP functionality.

 

I would message at  and let him know you are keen, he seems to have access to dev's and engineers which would action this feature.

 

Regards, Bosanac

 

Link to comment

Hi  and  - unfortunately there is no confirmed update on this yet. We will still be aiming for Q2, however because this is still so far away it doesn't have a confirmed delivery date and therefore could be bumped if other priorities come up between now and then. Unfortunately this is all the information I have at this time. 

Link to comment
  • 2 weeks later...
Guest elcapitanwilkin

Disappointed this information was not readily available before signing up, something we may need to flag with the major product comparison sites. 

Link to comment

I agree, to be honest DRP was something assumed as many other brokers offer it... the commissions are high enough with IG.

 

I am personally giving them until May, maybe June - then moving my stock and business else where. This should fit  's timeline. 

 

Hopefully this interest and feature request gets flagged for urgency. 

 

Link to comment


bosanac wrote:

I agree, to be honest DRP was something assumed as many other brokers offer it... the commissions are high enough with IG.

 

I am personally giving them until May, maybe June - then moving my stock and business else where. This should fit 
 's timeline. 

 

Hopefully this interest and feature request gets flagged for urgency. 

 

Hi - as soon as we offer a DRP we will update our website and marketing material to reflect that. In regards to commissions I believe we are in fact extremely competitive. You can see a comparison here, and it's important to look at less obvious factors as well (such as FX conversion charges), the platform (currently looking to be updated to the new web trading platform), help and support, and multi asset trading via any linked leverage account which can be collateralised against stock. 

 

As I said we are still continuing to improve our share dealing offering, however I don't have a firm time frame. 

Link to comment
  • 1 month later...
Guest hewhodares2

Well that will teach me to carry out my research, I've moved all my investments from ii to IG assuming that they had a DRIP facility, I'm astounded that they don't, if they cant provide it soon I'll have to move everything again. I've got 8 stocks and a total of 19 dividends all in the year, the cost will be prohibitive ...

Link to comment

hi ,

 

There are many of us in the same boat.. I hold 5 , increasing regularly with aim to re-invest and I know the regular purchase fees are going to add up directly impacting my bottom line long term.

 

I am personally going to give them another month or two then begin looking for alternatives and move off the platform (I read more and more platforms are offering $0 buy fees and DRIP automation). The lack of a firm commitment and timeline is just not acceptable, its been a while since this was raised.

 

Cheers..

Link to comment
  • 1 month later...

Archived

This topic is now archived and is closed to further replies.

Guest
This topic is now closed to further replies.
  • image.png

  • Posts

    • How Merlin Is Addressing Bitcoin Scalability With A Unique Layer 2 Approach If you've been around the crypto world for a while, you're likely familiar with the limitations of Bitcoin's Layer 1 and its scalability issues. Over time, we've seen various innovative proposals like Wormhole's unique approach to address these limitations. In this context, Merlin Chain caught my attention. It's a project that aims to tackle Bitcoin's scalability challenges by offering a Layer 2 solution built on the ZK-Rollups model. This translates to faster and cheaper transactions while maintaining security through a decentralized oracle network with anti-fraud measures. Developed by the well-established Bitmap Tech team, Merlin Chain boasts a market cap exceeding $500 million. Their key objective has always been to empower existing Bitcoin assets by enabling them to interact seamlessly on the Layer 2 network. I believe backing from 20+ prominent VC firms like OKX Ventures and ViaBTC suggests confidence in Merlin Chain's future. MERL was launched as the first token on Bitget's pre-market trade platform and had a commendable price action. Is Merlin Chain's Layer 2 solution a long-term solution to this issue? Let's hear your candid opinions in the comments section below! Cheers! #Bitcoin #btc #halving #transactions #merlin #merl #bitget #web3 #wormhole
    • As the crypto sector undergoes transformation, Asia emerges as a formidable player alongside the established giants of the US and Europe. With significant investments and a growing user base, the region's potential for dominance is unmistakable. Leading this movement is Dubai, pioneering crypto adoption with its favorable regulations, attracting crypto exchanges focused on the region. A standout in this field is Bitget, Asia's largest web3 wallet provider, boasting a user base of over 19 million. Through regular events, Bitget cultivates community engagement, recognizing and rewarding the trust and loyalty of its users. One such event, the ongoing "Bitget Super Savings," offers over $20,000 worth of hot tokens across various categories, providing users with an opportunity to enrich their crypto portfolios. For those in South Asia, Bitget extends an invitation to participate in this ongoing event. Seize the chance to earn free hot tokens before the event concludes on April 26th. Good luck!
    • It is ideal that crypto currency exchanges as the admisnistrators of users’ funds should account to them from time to time through transparency reports that can be drafted atleast at the end of every quarter.  Platforms like Bitget have dropped theirs and their growth is pretty impressive. Both spot and derivative volume have grown exponentially. This is a testament to the fact that the team has been doing the good work. In Q1 of 2024, the CEX’s spot trading volume increased by a whopping 113% peaking about $160 billion and the futures trading volume was at about $1.4 trillion signalling a 146% increase.  In march, the platform witnessed the most remarkable growth thus far in the derivative market making it the 3rd largest derivative trading platform for the first time since december 2022.  The user base has also trumped up from the previous 20 million to 25 million users globally.  This demonstrates pure positive social sentiment and traction. In a similar vein, through the course of the previous quarter, the platform added about 186 new tokens, this has placed its number of tokens at 750+ tokens available and 820+ spot tokens.  Most of the listings were relatively very early and some investors made fortunes off it. The launchpool has also witnessed impressive growth, a total of 7 launchpools were done and this led to an increased demand for its native token $BGB. $Bgb has been on steroids since the last quarter, breaking ATHs and establishing new ones. Bitget applauds consistency and security, its Proof of reserve has also grown to about $612 million since March. With this type of security framework users confidence will be instilled to further use Bitget. Here's some proof of the above; https://twitter.com/TokenInsight/status/1767010819282526267
×
×
  • Create New...
us