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Auto currency conversion when no funds on account


Guest peng

Question

Guest peng

On 1 July morning I manually did USD-SGD currency conversion and withdrew all funds from my account, but then IG accidentally repeated the same currency conversion at rate 1.3468 on behalf on me (please note there was no funds on my account at the time), and finally at the end of 1 July trading hours IG again did SGD-USD currency conversion at rate 1.3624 to payback the USD amount in previous conversion transaction, which caused me lose some money due to the conversion rate difference.

I called and emailed to inform IG helpdesk about the unexpected currency conversion transactions on 2 July, so far no any update but said they were investigating...

Transaction history shown as below:

Type

Summary

Date

Ref

Market

Ccy

P/L

DEPO

Currency Transfers

02/7/2019

18149061

Transfer from USD to SGD at 1.3624

$

1103.4

WITH

Currency Transfers

02/7/2019

18249161

Transfer from USD to SGD at 1.3624

SD

-1503.27

DEPO

Currency Transfers

01/7/2019

21823582

Transfer from USD to SGD at 1.3468

SD

1486.06

WITH

Currency Transfers

01/7/2019

21813482

Transfer from USD to SGD at 1.3468

$

-1103.4

WITH

Cash Out

01/7/2019

27117156

Bank Withdrawal

SD

-10312.71

WITH

Currency Transfers

01/7/2019

11812276

Transfer from USD to SGD at 1.3468

$

-1103.4

DEPO

Currency Transfers

01/7/2019

11822376

Transfer from USD to SGD at 1.3468

SD

1486.06

 

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