Trades £25,000

[RegRow]

Hi Guys

I make frequent trades over £25,000, often daily, but I have to do it in two purchases. There is no problem with selling. I have tried phoning the helpline but but I was told it was not possible to make share purchases over £25,000 Is there t any way that one can can make purchases over £25,000 in one transaction?.

I am a fugitive from another well-known company where I was a very satisfied client until they added a 20 minute time out feature.

I still have my ISA account with them which I want to move to IG, but again, I would need to be able to to trade over £25,000.

Thanks for reading.

RegRow

 

[dmedin]

I'm very surprised to hear that they can't buy over £25,000.  How strange.

[CharlotteIG]

19 minutes ago, RegRow said:

Hi Guys

I make frequent trades over £25,000, often daily, but I have to do it in two purchases. There is no problem with selling. I have tried phoning the helpline but but I was told it was not possible to make share purchases over £25,000 Is there t any way that one can can make purchases over £25,000 in one transaction?.

I am a fugitive from another well-known company where I was a very satisfied client until they added a 20 minute time out feature.

I still have my ISA account with them which I want to move to IG, but again, I would need to be able to to trade over £25,000.

Thanks for reading.

RegRow

 

Hey @RegRow, 

Thanks for your post. 

With our share dealing/ ISA accounts we have a fixed commission up to £25,000. If you want to trade more than £25K in one go you can get your commission structure changed to 5 basis points (0.05%). However, if you work out the exposure of your trade you will be able to determine what's more cost effective for you. 

You can find our commission structure here: https://www.ig.com/uk/investments/share-dealing/costs-fees

Example: 

If you were looking to buy £40K worth of the same UK shares. You could either: 

1. Do one trade with exposure £25, then another with £15K and pay (£8 x 2) £16

or 

2. £40K x 0.05% = £20 

 

Do note that when you trade a certain amount of trades in the previous month your commission with reduce. 

 

I hope this helps. If you have any other questions let me know. 

 

[Genie1]

I am having the same issue but thanks for the explanation, which IG live chat was completely unable to deal with just now. They are adamant that there is no limit on purchases. Very poor advice, which I find to be the norm. 

How do you get the commission structure changed?

[CharlotteIG]

On 06/03/2020 at 21:07, Genie1 said:

I am having the same issue but thanks for the explanation, which IG live chat was completely unable to deal with just now. They are adamant that there is no limit on purchases. Very poor advice, which I find to be the norm. 

How do you get the commission structure changed?

If you want the commission structure changed to 5 basis points you will need to call us and ask the person on the phone to change the settings with the shares desk. 

[Guest 25k limite]

Having to spend 45mins in a phone queue to do this is daft.. Imagine if you do it all the time.. For example today I wish to buy 150k of shares, but I have to do it 6 times.. Absolutely amateur.. I can't go on the phone as I'm at work.. 😛