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Dividend Reinvestment Plan


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I note that the platform does not offer DRIP. As a small investor I highly value the ability to automatically reinvest my dividends without incurring additional charges.

 

This is something other major platforms do offer and I believe IG should offer a Dividend Reinvestment Plan.

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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

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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

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  • 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

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  • 5 months later...

Hi Hannah, 

 

Has there been update to this feature request? We too are keen on the feature and would gladly port over more trading & long term holdings if it were implemented for US stocks.


Regards, bosanac

 

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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.

 

 

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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. 

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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..  

 

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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. 

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  • 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

 

 

 

 

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  • 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

 

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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. 

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  • 2 weeks later...

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. 

 

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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. 

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  • 1 month later...

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 ...

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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..

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  • 1 month later...
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