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When is an asset not an asset?


Guest Nichalex

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Guest Nichalex

In their online account opening blurb IG state that they will pay a bonus to new clients based on the value of ASSETS transferred to them. However in practice it transpires that the amount of the bonus is calculated NOT on the assets moved but rather on the value of the securities involved. I find this sharp practice particularly as cash transferred is likely to be invested, generating income for IG.

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Hi  - You can see the info referring to transfering investments here >> https://www.ig.com/uk/investments/share-dealing/transfer-investments with the relevant terms and conditions stating no cash transfers here >> https://a.c-dn.net/c/content/dam/publicsites/1486991655335/igcom/uk/files/education/170200_IGM_UK_Reward%20for%20Transfer.pdf

 

The reason for this is that we want to safe guard against people who would just fund their account, claim the reward, and then withdraw their fund immediately. With a stock transfer this would be a lot less likely to happen. I hope this clarifies things. 

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