Scrapping the minimum deposit of £100

[Guest theSarayiahpost]

I used to trade with IG a lot and also introduced clients to you, but since you have made numerous negative changes I stopped trading with your company.  One of these negative changes was the introduction of a minimum deposit of £100 by debit or credit card when funding ones account.

 

I would like IG to scrap this and if a minimum is necessary make it £10 and no more than that.  Ex. if a trade I am wanting to take only needs £40 margin - I am being forced to fund my account with a £100 and then it will take 3 days just to have the £60 go back to my bank account.

 

As you are now making some very positive changes (reduced spreads on forex and gold and free guaranteed stops) then if you scrap the minimum deposit I would probably come back to trading with you at lease for some instruments. 

 

 

[HannahL]

Hi , thanks for your post.

 

Firstly, it's great to hear that you feel we have made some positive changes recently! All feedback is welcome of course, so I'm happy to address your concerns too regarding the minimum deposit.

 

The minimum amount of £100 is in line with our minimum bet sizes and margin requirements for trades.  For example, although you may only need to put down £50 to open a trade, you will still always need separate available funds to cover any running losses, as margin funds cannot be used for this.  It is therefore prudent to maintain a good balance of available funds, as if the market moves quickly against you and this balance becomes negative, your positions are at risk of being closed out.  The minimum of £100 ensures you have at least some available funds to protect you from this.

 

I hope that clarifies our minimum account deposit, but please let us know if you have any more queries!

 

Thanks,

Hannah