Jump to content
  • 0

How do you keep my funds safe?


Guest david nicholls

Question

Guest david nicholls

with ref to the possibility of bank failure and funds held being used by bank and shares being issued, are any excess funds in my ig account safe should this happen and would it be practical to leave more cash ready for further dealing?

Link to comment

1 answer to this question

Recommended Posts

  • 0
22 hours ago, Guest david nicholls said:

with ref to the possibility of bank failure and funds held being used by bank and shares being issued, are any excess funds in my ig account safe should this happen and would it be practical to leave more cash ready for further dealing?

What happens to my money if one of the banks IG uses to hold client money goes into liquidation?
The losses would be shared by clients in proportion to the share of money held with the failed bank. Funds lost in this way may be compensated for under the Financial Services Compensation Scheme (FSCS) up to a limit of £50,000 per person, per institution, subject to other balances held with the bank in question.

Find out more about what the FSCS covers and who is eligible to claim at their website www.fscs.org.uk. 

 

What happens to the money I deposit with IG?
Your money is held in segregated bank accounts under trustee arrangements. This ensures that the cash remains yours, rather than IG’s. It also means that it’s easily identifiable as client money, so IG and its creditors don’t have any charge, liens, or rights of set-off or retention over it. 

We have a number of segregated bank accounts at a range of credit-worthy high street banks such as Barclays and Lloyds. We intentionally ensure that client money is split between a number of banks, and we’re not permitted to hold it all in one place. 

 

I hope this helps. 

All the best 🙂 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,068
    • Total Posts
      88,119
    • Total Members
      69,064
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Cueball
    Joined 02/10/22 20:33
  • Posts

    • BNBUSD Day Crypto Chart Monday 3 October 2022,00:18(UTC+1)London BNBUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((3)) Direction Next higher degrees: Vave Ill of Motive Details: The sub-wave of wave Ill The price tends to trade above the 336.5 level, but not below 256.7 Wave Cancel invalid level: 256.7 Source Tradinglounge.com Get trial here!       BNBUSD H4 Crypto Chart Monday 3 October 2022,00:18(UTC+1)London BNBUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave ((3)) Direction Next higher degrees: Vave Ill of Motive Details: The sub-wave of wave Ill The price tends to trade above the 336.5 level, but not below 256.7 Wave Cancel invalid level: 256.7
    • Commodity Futures Market Summary: Elliott Wave Trading Strategies; US Gov Bonds 10 Yr Yields, US Dollar Index DXY, US Spot Gold, GDX, Silver, Copper, XLE Energy ETF, Crude Oil and Natural Gas Market Summary: The USD is expected higher in the trading sessions ahead, which in turn places pressure on any of the commodities that have been rallying over the last few sessions. I also take a look at most of the US Sector ETFs which are under a lot of bearish pressure, basically in line with the SP500 TRIAL Buy 1 Month Get 3 Months Video Chapters 00:00 US Sector ETFs 09:40 US Gov Bonds 10 Yr Yields 12:16 US Dollar Index DXY  17:40 GDX ETF /  US Spot Gold 20:02 US Spot Silver 23:19 US Copper / Lithium / Uranium / Nickel 29:36 Crude Oil. Sector XLE / XOM 32:53 Natural Gas 35:35 Thanks for supporting! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • SP500 US Stock Bear Market: AMZN, AAPL, NVDA, TSLA, GOOGL, BRK.B, SQ, META, NFLX, ENPH, MSFT, BAC, JPM, GS. Elliott Wave Technical Analysis  Stock Market News: OPEC to consider oil cut of over than 1 million barrels per day Stock Market Summary Elliott Wave Count: Elliott Wave Analysis - (iii) of v) of 3 of (1) Analysis US Stocks: Tesla TSLA, Amazon AMZN, Nvidia (NVDA), Apple AAPL, Microsoft MSFT, Berkshire Hathaway (BRK/B),Block, Inc (SQ), Meta Platforms, Netflix (NFLX), Enphase (ENPH), Alphabet GOOGL. XFL Finance Sector ETF, JPMorgan JPM & Bank of America BAC, Goldman Sachs Group Inc (GS) Stock Market Trading strategies: Monday should follow Friday lower in the bearish weekly cycle. Holding short until Wave 3 for most stocks Video Chapters 00:00 SP500 02:11 Apple (AAPL) 03:18 NVIDIA (NVDA) 03:34 Amazon (AMZN) 05:00 Meta Platforms (META) 05:58 Netflix (NFLX)  07:23 Enphase (ENPH) 09:17 Tesla (TSLA) 10:20 Alphabet (GOOGL)  12:08 Microsoft (MSFT) 13:07 Berkshire Hathaway (BRK.B) 14:48 Block Inc. (SQ)  15:55 Banks JPM, GS 20:19 End. Thanks for supporting! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
×
×
  • Create New...