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Custody fees

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I have £60,000 shares held by IG, my understanding is if I hold more than £15,000 I am exempt from custody fees yet I seem to have been charged. Can you tell me what it is I missed ?

 

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Hey thanks for the question. When it comes to share dealing account custody fees in the UK:

The custody fee is also dependent on your trading activity, and commissions paid during the quarter will be deducted from the fee. You will be exempt from the charge if you fulfil one of the following criteria:

  • Deal three or more times on your share dealing account during the quarter
  • Hold investments worth £15,000 or more across your IG Smart Portfolio accounts only, at the end of the quarter

https://www.ig.com/uk/investments/share-dealing/costs-fees 

 

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As you do not have an IG Smart account the fee would apply unless you deal 3 or more times in one quarter.  The IG Smart account is a managed account and incurs extra fees. 

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