Opening a second account with a different IG office. ID verification? Minimum deposit?

[Guest JohnDough]

Hello!

Does opening a second account with a different IG office require another ID verification? Are the minimum deposits relevant as well (e.g. opening an account with the Swiss IG office with an existing UK/European IG account that has less than 2500 CHF on it)?

Thank you for your answer.

JD

[Guest idabida]

I opened a second account with IG/AU because of the ESME regulations in order to trade with lower margins, even though I have had to do so with CFD's rather than Spread Betting (which is only available in IG/UK). I have not been asked for ID verification as already have an IG/UK account. Minimum deposits are the same - in whatever currency you trade in.

[JamesIG]

Thanks @idabida - it's worth noting that this is also down to your personal circumstance and the account type you are looking for. It really is a case-by-case basis. For example, some clients who open Swiss accounts will require additional documentation such as proof of identity/residency. This will be down to specific laws in Switzerland and to be compliant with local regulations. 

[Guest idabida]

OK thanks @JamesIG for that. I was just speaking from my experience.

 

[JamesIG]

absolutely! great reply and v helpful, but I just wanted to bulk out a bit of flavour to manage expectations. thanks very much and have a good one  

[Exhale_Trading]

Just to add my experience. I closed my UK account and opened a new account at IG Switzerland. I was treated by IG Switzerland as if I was a new customer, so I had to go through the usual ID verification (I expected this, so no problem with that).

Since then I have been happy customer of IG Switzerland and did not experience any further problems or limitations.