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Margin tightening


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Hi 

 

Welcome to IG Community!

 

You should be receiving an email shortly (if you haven't already) to let you know that we've reduced margin rates on markets such as the FTSE, GBP and EUR crosses and more. 

 

Check your email for the full details and let us know if you have any questions.

 

Tim

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  • 1 month later...

Same here, margins on all my small caps doubled. All small caps with starting margin requirements of 50%. No warning. However they had a system update announcement last night on their webpage. Guess that's where it went wrong. Been on the phone waiting for over 30 mins...

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As soon as anybody knows anything ......please post it ......This is spoiling my day.....noticed the 50 percent thing.....If this is true though the company will go out of business.......SURELY AN ERROR......But still getting worried here.......

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Satrix40 margin gone from 5% to 50%. Ive been emailing since 0700 and trying to call from 1000. Can someone from IG please let us all know whats happening. Getting emails to fund my account but no way I can get that amount in over the weekend!!!!! Seems that im not the only one in this position. Happy Saturday :-(  

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Hmm..this might be a good prompt to start spreading capital over a number of firms to manage risk (if what you say is true about IGs financial position),

 

Been with IG a long time and this is very poor show from the Company in terms of customer service when there is:

a) no information to Clients,

b) margin call emails throughout the night and morning

c) finally, you cant get through to "Client Services" on the phone.

 

I am not impressed at all.....

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I just got through on the phone. They said that it was IG's error and to ignore it - they are working to fix the mistake and hopefully by the end of the day things will be back to normal. Also that they were going to send an email explaining and apologisin.

Would be great if they could have posted this instead of me... ! It kind of has undermined my confidence in the platform. Would the system actually have closed out some people's positions based on this error??

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Hi all, 

 

Please accept our apologies for the emails you may have received today regarding margin rates. A software update over the weekend has caused incorrect margins on a number of instruments. We should have this resolved shortly.

 

No positions will be affected by this. 

 

Thanks, 

Dan

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Hi both, 

 

I do understand your concerns, and apologies for the delay in providing information on issue. We'll be conducting a full review to improve our practices moving forwards. 

 

As soon as I have any updates I will post here again. 

 

Dan

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Dan

Thanks for the update and confirmation, but I like many others have been somewhat stressed by this since the first margin call email at 00.35 this morning!!

I fail to understand why an URGENT holding email could not have been issued to alert all Clients (who are not on the forum)

I sat and pondered this, before seeing your comment above and came to the conclusion that either 1. IG have very poor IT systems, or worse 2. That this was a 'grab for cash' 

Please can you assure all of us that this will not happen again in the future.

Thanks Grizzle

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It’s good that Dan is now finally communicating but I agree with Grizzle1 and pulledpork that IT issues occur (I personally experience this in my business) but the complacent and leisurely approach to communicating and resolving the issue has left me and others a bit undervalued as clients of IG.

 

I think IG need to understand that there are REAL people behind each IG account who do not need this sort of stressful start to a weekend!

 

I will definitely be making a formal complaint about this with my Account Manager who I already emailed last night but got an Out of Office...typical.

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Hi all, 

 

This issue should now be resolved.  We'll take on board all the points you have raised and are really sorry for the inconvenience this has caused. 

 

Do let us know if you continue to encounter and further problems. 

 

Dan

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