CharlotteIG

March 17, 2021

On 13/03/2021 at 08:32, Guest Same said:

I'm late to this conversation, I understand the issue and the explanation. I understand gapping, bid/ask, increased spreads around market open, volatility, liquidity etc. But I'm having some similar issues. I usually place stop orders prior to market open. I understand that the last close will be different to wherever the market opens, and depending on volatility this price might be very different. It's abit of a con, because when you try the Demo platform the spreads are small and the fill price is ALWAYS what you ask for - but when you put your hard earned cash in the live platform is hugely different. If IG guarantee ' best execution' this shouldn't happen should it? Either the order fills at my price or the order shouldn't fill? What it shouldn't do is fill miles away, sometimes 4, 5, 6% away from my specified entry price, which is has on some occasions? How do we know IG are honest enough to say what the actual sell/buy balance is and if there really was a buyer or seller at the level we want to fill at, or rather IG just inflate/deflate the price to suit them and mitigate their loss and manage down our win? We don't actually get to see this in action, it's all behind the scenes, and we just take the result? How do we get transparency to see the 'first available price' to corroborate the accuracy and reality? Otherwise, we might as well be placing abet on a horse and never seeing the race, just accepting that our horse was placed 4th?

Hey,

Thanks for your post.

I understand your point and I will suggest having limit/ stop orders that only execute at a fixed price.

When trading in the underlying market if you choose a limit order what you're asking from us is to execute at that price or better, same with the stop order but you're telling the broker to fill you at that price or worse. (Which from what you've written I can see you understand but just for anyone reading over this with the same question).

We make money from spread and commission we have no benefit filling you at a worse price than what we can get. There are other brokers out there that make money from clients losing, we're not one of them. We don't find it beneficial filling clients at worse prices because they would be upset with the execution and won't continue trading with us. Also, this would be a regulatory breach and we're FCA regulated.

I hope this helps

Charlotte

March 17, 2021

35 minutes ago, Lukemorrist said:

I just wanted to ask whether the futures contracts on the indices market automatically roll over or not. If they don’t how can we roll them over to the new contract before the position(s) are automatically closed.

thanks

Hey,

You can set the rollover instructions on your MyIG page by selecting Settings> Rollovers

I hope this helps,

Charlotte

March 17, 2021

16 hours ago, zoton28 said:

I've forgotten my MT4 login password. How do I get or reset it.

Hey,

If you've forgotten your MT4 password we have to send you a link so you can reset it. You can request this link over the phone/ email.

If you're emailing us you will have to include answers to 4/6 of he following questions below (Please do not respond to this post with these answers for security reasons).

1. Name and date of birth

2. Postal address on the account

3. Registered phone number

4. Last market you traded on

5. Approximate account balance

6. Last 4 digits of a card you've used to fund the account.

I hope this helps, all the best

Charlotte

March 17, 2021

On 15/03/2021 at 22:48, wardzy said:

asx200 90 point spike this morning, not on any other platforms, bet that collected a few stops

Thanks for your post.

If the market traded there we will execute stops however if this was just a spike and an error on our side stops/ limits don't get executed.

Further to this we hedge the same way as the majority of our clients. Meaning if 60% are long and 40% short we will hedge the uncovered long 20%. We don't win when clients lose.

All the best

March 17, 2021

On 15/03/2021 at 22:38, NilayJ said:

I haven't been able to access my account for the last couple of days, the IG app says that my account has been locked and to change the password but when I after I changed my password I still haven't been able to log in. Please help

Thanks for your post.

If, before resetting your password, you had three unsucessful password attempts your account will be locked for security reasons. To get the account unlocked please email/ call/ live chat us.

If you're emailing us you will have to include answers to 4/6 of he following questions below (Please do not respond to this post with these answers for security reasons).

1. Name and date of birth

2. Postal address on the account

3. Registered phone number

4. Last market you traded on

5. Approximate account balance

6. Last 4 digits of a card you've used to fund the account.

I hope this helps, all the best

Charlotte

March 17, 2021

On 12/03/2021 at 15:16, ChrisLiu said:

One month ago, I submitted the request for upgrading my account to Pro account, and all the docs as per IG's requirements. Until now, I haven't received any updates yet.

Five days ago, I sent emails to the designated email address of IG Team to follow up. Still no reponses have been received.

As the effective date of the new rule of CFDs is approaching in Australia, I am not sure if they are still able to finalize my application before that date. If not, I will suffer huge losses!!!

Hey,

I've reached out to our credit team so they can give you clarification for this.

Unfortunately I can't check the status of the pro upgrade.

All the best

March 15, 2021

On 13/03/2021 at 06:54, CYe said:

I accidentally entered a wrong passport number. Is there a way to change in on the website?

I can't seem to find the appropriate channel to do so on Ig's website

Any advice would be appreciated. Thanks!

Hey,

You will have to get in contact with our team so they can reset these settings and they you can enter them again.

All the best

Charlotte

March 15, 2021

On 12/03/2021 at 19:25, Prapti said:

Few minutes ago, my couple of Gold positions in the cfd account were closed automatically. I didnt have a stop loss, also have more than enough dollars in the available margin. So, what triggered the close? I have lost close to $900 because of this error from IG. I have emailed the support but no response yet, so I ma reaching out the community.

Hey @Prapti,

The potential reasons normally would be:

Stop loss (as you mentioned you didn't have one so this is eliminated)

Margin ( Similar to above)

Did you potentially set a working order the opposite direction and select net off? When triggered these will close off your existing positions.

Unfortunately I can't be account specific so am unable to give you the answer you desire. You can check your account history to see if that give you an insight into why it's close. Otherwise you'll have to wait for our help desk to get back to you.

Sorry I couldn't help more.

Charlotte

March 15, 2021

40 minutes ago, Guest Peter said:

Are the credentials the same for the client portal and the mt4 login ?

Hey Peter,

Thanks for your post.

Your IG and MT4 details are different. When you opened your MT4 account you should have received two emails. One providing your username and the other providing your password.

If you're having difficulty finding these please email us at helpdesk.uk@ig.com. Explain that you need your MT4 username and a MT4 password reset link. For us to send out this information we will require answers to 4/6 questions below:

1. Name and date of birth

2. Registered address

3. Registered phone number

4. Last 4 digits of a card you have used to fund the account

5. Last market you traded

6. Balance on your account.

Please do not respond to this post with answers to these questions.

I hope this helps and if you need anything else let me know

All the best,

Charlotte

March 12, 2021

1 minute ago, DaveX said:

Considering closing my account due to CFD trading costs and no customer service.

Yesterday did a CFD on $CTRM - 300 shares $0.92 - When I closed my position @ $0.99 I was charged £95.14 so only came out with £58 profit!!!

IG don't answer the phone, the support chat are unable to explain the charge, emails are ignored

Absolute joke

Thanks for your post.

With our Spread betting account all markets incorporate the cost into the spread so when you close your position you don't have any commission fees. With our CFD account however we do have commission each side for shares which you can find by following the link below:

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/what-are-igs-shares-cfd-product-details

If you're a UK client you can have exposure to the same shares but you will not be charged commission. If this is something you might be interested in reach out to us. If you don't want to call us you can email us with the information about what happened and then ask us to break down the costs on the spread betting account to see if it's something you want to consider.

But with CFD you have to be aware of the commission before trading so you've included the cost when thinking of your desired profit.

All the best

Charlotte

March 12, 2021

On 09/03/2021 at 20:47, samiracaruso said:

Same thing here. It's ludicrous the lack of transparency. I wanted to create an ISA account, while submitting the application I receive a pop up saying I already have an account. I login and was just an old account I used for demo, I try to create an ISA account but it only let's me create a CFD account (saying I will be able to add more account types later), I go ahead and get refused. I email support and get told that based on my income/savings I do not qualify for leveraged accounts, I explain to them I am not interested in CFDs, just ISA share dealing. They say I can then open an ISA account, I reply explaining that since the CFD one still looks pending it won't let me open an ISA account. This is literally ridiculous! You put me to open a CFD account, I just wanted an ISA! Fix your website and let me trade.

Hey,

So sorry for the inconvenience and how it was dealt with.

Your CFD account will now be declined. If you still want to have an account with us you can reapply and just select Share dealing (you have to have a share dealing account once opened you can add your ISA).

Please note, if you have any difficulties signing up would it be possible for you to use a different email address (once opened we can change it back to you desired address).

Apologies again with how this was dealt with.

All the best

Charlotte

March 12, 2021

On 27/01/2021 at 16:05, dogfish said:

I traded a single share of Apple on the demo account got out for 50c profit a few minutes later and the commissions recorded were $30 - $15 to get in and $15 to get out. This seems extremely expensive?

When trading on a CFD account for shares you're charged commission. Make sure the amount you're trading and profit goal you desire takes into consideration the amount of commission you need to pay:

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/what-are-igs-shares-cfd-product-details

If you're a UK client you can use the spread betting account if that works for you because you don't pay commission on shares the charge is incorporated in the spread.

All the best

Charlotte

March 12, 2021

On 20/01/2021 at 17:46, Finbar said:

Hi,

I made 4 share purchases yesterday, each had a £10 commision.

I thought after 3 purchases the comission doesnt apply to future purchases?

Please could someone advise?

Kind Regards.

On 09/03/2021 at 19:59, Guest too expensive said:

i have also traded 3 times and it is still asking for £10 a trade! !

Thanks for your post.

The reduced commission fees work per calendar month not from the first time you traded:

So if you traded 3 times in February, in March you will have the reduced commissions.

I hope this helps clarify why you were charged.

All the best

Charlotte

March 12, 2021

2 hours ago, MTH said:

I ordered £900 of photo-me stock at a limit price of 50p total 1800 shares. 1 share was transacted for 50p and i have been charged £3.00 commission, this is ridiculous. Please advise me you will refund this charge, 0i can't believe you want potentil investors to be aware of such practice.

Hey,

If you chose a limit day or GTC (good till cancel) order you can be subject to partial fills in the underlying. Your order goes onto the exchange and will stay on there when the markets open. We don't have control over what does/ doesn't get filled unfortunately.

All the best

Charlotte

March 12, 2021

7 hours ago, Guest Jonathan Higgins said:

Hi,

I am based in Perth Australia and fairly new to trading. I am interested in a company based in Canada on a small exchange but can’t seem To be able to make the trade (commsec who I deal with won’t trade on a small exchange and that it used to be a cannabis associated company) any help would be greatly appreciated. Thanks, Jon.

Hey Jonathan,

Thanks for your post.

We don't offer Canadian stocks on our platform and only offer stocks that have large market cap on our leveraged accounts.

We also don't offer Cannabis stocks.

Sorry for the inconvenience.

All the best

March 12, 2021

19 hours ago, officemarbmb said:

I start investing with ig ,and after few days ,they close my trades because of brexit ,seriosly i lose 378eur on my trades because of your mistake .

Hey,

I'm unable to see your trading activity.

If you believe you've lost money and it's IG's fault please reach out to us via email so we can look into it for you. If you'd prefer a call back so we can walk through it let us know in the email.

All the best

March 12, 2021

15 hours ago, densaj said:

I just opened an IG account and deposited into it. But when I wanna trade USD/JPY, it seems that the account is CFD, but my prior experience has been with Spread Betting type. I'm wondering now how I can switch my account into Spread Betting and then start trading? I'll be thankful if you'd help me asap.

Hey,

Thanks for your post.

Spread betting is only available if you're signed up with our UK office and you're a resident of the UK.

If this is the case you can add a spread betting account to your portfolio by selecting MyIG> Add an account> Add Spread betting.

All the best,

Charlotte

March 12, 2021

On 11/03/2021 at 02:19, Gg2dark said:

I've activated a live account early 2021,uploaded all required documents and have had them approved by IG.

However the account is still not tradable while simultaneously asking me to upload another document with no where to upload as it has already been confirmed.

I live in london I'm not sure if that is the problem but please help

Hey,

Thanks for your post.

I've asked your account manager to reach out to you regarding this.

Apologies for the delay.

All the best

Charlotte

March 12, 2021

On 09/03/2021 at 20:48, Guest Jane said:

Can someone explain the charges for an isa please

How is 1 month calculated

why has my free month having done 3 transactions month before been ended early? I started on 11 jan

the free month on 12/13 feb

now on 7/8/9 March I’m being charged

Hey Jane,

Thanks for your post.

The reduced commission fees work per calendar month not from the first time you traded:

I hope this helps clarify why you were charged.

All the best

Charlotte

March 12, 2021

On 09/03/2021 at 08:19, Guest Fabo said:

Hey! I’m trying to start trading share deals on ig trading but I’m still unsure about the fees they charge. It says that when you make 3+ order in a month, the commission is free. When I try to place an order, there are charges. Roughly $13.
What I would like to know is

what the charge is when I’m trying to place an order?

what happens if in month 1, I place 3+ orders and nothing in month 2 and 3+ orders in month 3?

Hey Fabo,

If you place 3+ trades in January, that means in February you will receive the reduced commissions. You can find these reduced commissions below:

https://www.ig.com/uk/investments/share-dealing/costs-fees

The promotion is reduced commissions for some markets (e.g. US shares, UK shares) if you place a certain amount of shares in the previous calendar month.

If you were to trade 3+ times in your first month it means in the 2nd month you will have those reduced commissions (if you choose to use them). However if in the second month you do nothing you will have to pay full price commission on the 3rd month.

I hope this helps if you have any questions let me know by putting @CharlotteIG

All the best

March 10, 2021

6 hours ago, Ckingdom said:

Hi IG,

I can't seem to find a Demo Share Dealing account?

Hey @Ckingdom,

Thanks for your post.

Unfortunately we don't offer a share dealing demo account as it's too hard to replicate in the demo environment.

Apologies for the inconvenience.

All the best

March 10, 2021

On 08/03/2021 at 21:28, Guest Howard said:

Can you make a widrawl from an ISA during the tax year and put the money back into the tax free envelope before the end of the tax year

Hey,

We do have flexible ISAs so you can withdraw money just, as you mentioned, put it back in before the end of the tax year.

All the best

March 8, 2021

2 hours ago, Kkr76 said:

Hi

need ur suggestions, I had shares in Halifax share dealing account, I would like to transfer to ig isa.

how can do it.

Is it straight forward transfer after filling relevant forms form Halifax and initiate the proces.

or

to sell in Halifax and transfer money to lg.

Hey @Kkr76,

I hope you're well.

Firstly the transfer would be between Share dealing to share dealing account. Not share dealing to ISA. I will go through the steps you can take to do that after the steps below on how to get your shares to IG.

So with share dealing transfer you can do on by opening an account with IG. Once opened you can fill our our transfer form by selections MyIG> Live accounts> Change 'Account you're viewing' to share dealing> Transfer. Follow the steps from there. Transfers take around 4-6 weeks depending on how cooperative Halifax is.

Share dealing to ISA transfer

We can't make transfers from a share dealing to an ISA account so once we have the shares in the share dealing account you have 2 options:

Option 1: Sell the shared on your Share dealing account, wait for the funds to settle 2/3 working days, move the money to your ISA, buy the share back

Option 2: You can transfer shares from your share dealing account to ISA via the Bed & ISA process, which involves selling the shares and repurchase them on the ISA account. This process can be done over the phone with one of our dealers.

It'll cost £40 in commission per line of stock to sell the shares on share dealing account but free of charge to repurchase on the ISA. There will also be spread costs which is capped to roughly £30 per line of stock, however, this is generally cheaper for the majority of stocks.

If you have any other questions let me know by quoting my comment or putting @CharlotteIG

March 8, 2021

12 hours ago, Guest IGPuk said:

Hi there,

I have wothdraw my balance 15 days ago but still its not deposited in my bank account. What should i do?

Hey,

No withdrawal should take this long. If you reach out to us and as for proof of the withdrawal you can send it to your bank/ PayPal. If they're still unable to allocate your funds we can raise an investigation.

All the best

March 8, 2021

On 06/03/2021 at 08:18, sus123 said:

Hi there!

I'm currently waiting to transfer my stock&shares ISA to IG.

Transfer

Do I have to wait for it to complete to invest here? I opened other ISA in June 2020. Haven't fully used the £20,000 limit. So can I invest the remainder while I wait or do I have to wait for transfer to complete? As maybe it'll count as opening two ISAs in a tax year??

IG Fees

When do they start? Currently have 0 balance and waiting for transfer. Would I be charged?

When does each quarter start? is it Jan-Marc, Apr-June, etc? or varies depending on when i start/transfer complete.

I understand that if I do 3 trades per quarter there is no custody fee. Is there a minimum value to these trades to meet this?

Also noticed I have a share dealing and an isa account on my dashboard. is that normal? Only want the share isa. I won't be paying two custody fees right?

Thank you for the help!

Hey @sus123,

Transfer:

General rule is, no splitting current isa allowance between 2 brokers of same isa type unless transfer is in flight.

If you wants to split inflight, it is your duty to ensure you don't over subscribe.

IG Fees:

We don't charge for transfers but you should check your currently provider incase they have an exit fee.

Quarters are: Jan-Mar, Apr-Jun ...

There's no minimum value of commission for the quarterly fee. Three trades = no custody fee. Say you make 2 trades though and the commission totals to £20, you will only be charged (£24- £20) = £4

Your accounts collate meaning if you have a share dealing and ISA account you will only be charged £24 custody fee for the two. You can trade on either account to count towards the custody fee.

All the best

Profiles

Forums

Blogs

Events

Community Tutorials

Store

Posts posted by CharlotteIG