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Share Account with my Husband


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Have read the terms of the POA but we have to open a 2nd account to do this, what is the point of a 2nd account when we wish to use the same account, also account inactivity charges will apply if you don't use the account, why is it so hard for them to understand that a family might want to use the one account, this is just a small account for a few small trades, come on IG.

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Everyone who signs up to IG will have to go through KYC checks to make sure that only the individual who wants to trade is trading. This applies for everyone, irrespective of marital status. There are a number of additional legal and regulatory requirements which must be followed when trading.

 

This means that if you admit that either you signed up for an account in a different persons name (even if that is your partner), or that someone other than the account holder is trading, then yes - your account will be locked until the appropriate legal documents have been signed. There are a number of reasons why this is required, but it boils down to a basic principle: any form of investment has a potential to lose money if the markets move against you, and therefore any trade decision needs to be made by an individual who accepts liability and funds their own account. 

 

How to sort a limited power of attorney 

 

We understand that many will like to have shared accounts, or to be able to deal on their partners accounts. This is why there is a process in place to make this as smooth and quick as possible. Each individual needs to create an account at IG.com, and this shouldn't take longer than 3 or 4 minutes per individual. You then need to fill out the appropriate Limited Power of Attorney form (which is here for Australian clients, or can simply be searched in IG.com for your relevant location) which is a legal requirement, and email it to us. Assuming everything  is correct on the form, the turn around is usually complete within a day. 

 

I hope this clarifies things. 

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So it still goes on, no POA in place, No shares have been transferred in to my account and no emails or any form of contact from IG,

so what do I do now, its no wonder people get upset, your support is really bad.

 

Any help or Ideas would be appreciated.

 

Stephaine 

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I'm sorry that you are not happy with our service, but I have just looked back at the events / conversation surrounding this and I believe we were waiting on the LPOA documentation from yourself? After your initial query on Community above, and the reply requesting you send in a LPOA form, I can see that you sent us the form this morning. Turn around for manual processes and checks by our KYC team are generally a day (24 hours), but it looks like this was completed within 12 hours from when you sent the form. 

 

I have just had a look at your account and believe everything is now in order? Please give our TS team a call if you wish to discuss anything further as I believe this would be account specific which we wouldn't be able to discuss on a public forum. 

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