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Fletch

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Everything posted by Fletch

  1. It depends what you want, the lack of flashy options doesn't bother me overly much, and I've never really had any problem doing what I wanted to do. Dividends have occasionally been a bit tardy to come through, but they've always appeared eventually. However, if customer service is important to you, I really can't recommend IG. Fortunately, I've never needed their help, but a short look through these forums will reveal a lot of people that have major trouble getting a response to their queries . Overall, short of the free services there won't be many that are cheaper than IG. The service is basic, but it does what's it's supposed to. I was somewhat concerned over IG's handling of the latest GME/AMC shenanigans, but to be fair to IG that may well be down to my own (possibly unrealistic) expectations of how these situations should be handled. There has been some problems with the platform over the last few days, but again such issues are less critical to share investors than they are to CFD/SB traders.
  2. Yes, though it mainly concentrates on derivatives, so you might find it more limited than a broker concentrating on shares (no DRIP etc.)
  3. Although I have no doubt that there are other brokers who are acting correctly and trading the stock as they should, the problem is that the market has already been artificially skewed by those brokers that have put a stop on trading stocks that they previously traded. Preventing trade in stocks should only happen in extreme circumstances, and should not be down to the whims of individual brokers. To be honest this is really just the tip of the iceberg. Market corruption runs deep, as is clear from the fines handed out year after year to the same large banks, hedge funds and dealers 'caught' manipulating the markets. Here I use the term 'caught' very loosely since they don't really even bother trying to hide it - they just happily pay their fines like it has just become some form of tax to allow their criminal actions.
  4. Whilst I am mindful that the situation may be slightly different for those using leverage, I believe the blocks also apply to share trading accounts that are funded entirely by the client. Whilst I personally do not hold positions in these stocks, as a share investor it concerns me that if they can so easily excuse such actions for these stocks, then they can excuse it for any stock they choose. Putting such blocks on a stock is highly damaging to the investment and will almost certainly devalue it, directly causing loss to investors holding long term positions. Rather than their claim of protecting clients, it would seem to me that this will do nothing other than cause them loss. The only benefit of these actions is to those shorting the stock who seek to get off the hook and cover their positions cheaply. I can see why people who have lost over this are so angry, and I feel they would be entirely justified in suing for the losses. Hopefully it might deter such shady dealings in the future. If I thought they were any less corrupt, I might take my concerns to the FCA or government, but I fear it would just be a waste of time.
  5. I don't personally hold shares in either entity, but it does make you wonder where it will end with brokers appearing to protect their friends' by halting trading on certain stocks (or at least halting trading for the hoi polloi, but letting the trough-feeding vermin continue regardless). Let's face it, such actions benefit nobody except those making billions off of other peoples' property. It really doesn't look good IG, and I will be looking carefully if I really want to continue using you as a broker.
  6. The reduction only applies from the start of the following month. Any deals made beyond the 3 qualifying trades in the same month will still be charged at the standard commission rate.
  7. Might be the 0.5% tax on UK shares (excepting AIM)
  8. Three trades a month will maintain the preferred trading rate (£3 for UK shares, or commission free for US shares). Three trades a month will also cause the quarterly charge to be waived. That said, bear in mind that there is a 0.5% FEX fee involved in dealing US shares. Trying to avoid the FEX fee by changing the base currency of your account will instead incur a dealing charge of 2 cents per share with a minimum charge of $15. So arguably not truly commission free, but then very little ever is in the land of brokers.
  9. Now, now, don't let little things like questions of legality get in the way of delivering all those millions of vaccine doses to the flock. Besides, even if it's not legal, I have no doubt the government will just change the law to get around such a trifling inconvenience.
  10. Although tax compliance is one possible reason that instruments may be barred from trading on an ISA wrapped share account, it isn't the only reason. Some instruments can only be traded by those that IG consider 'professional' clients. Given that this is a leveraged instrument, it is possible that it also falls into this category. Yes, it's all a load of **** since it is purely your own money you are risking, but those are the rules IG has in place. What is a 'professional' client - who the **** knows. You'd have to contact IG to ask if they consider you a 'professional' client, and if not what stipulations you have to meet to get 'professional' status.
  11. I generally make the minimum number of trades per month to maintain the reduced fees and waive the quarterly charge. I think DRIP has been requested for a good number of years, but I suspect catering for the whims of share dealers/investors isn't very high on IG's list of priorities. Fundamentally, IG is a SB/CFD provider and that is likely where it makes the bulk of its money and thus where it mainly focuses its development (though looking at the forum, I sometimes wonder if it is really developing that side of things all that much either).
  12. Personally, I'd be amazed if the true fatality rate was anywhere close to being that high. I have more fear of dying in a freak exploding teapot accident than popping my clogs to covid. Maybe the government needs to be a bit more stringent in its persuasion.
  13. If you are share trading, you may also want to be aware of the following from the charges & commisions page to save you any nasty shock. *Note for multi-currency accounts: These figures apply to clients who opt for the default setting of 'instant currency conversion'. Clients who choose to convert currencies manually will pay commission of 2 cents per share with a minimum charge of $15 on US stocks.
  14. Ahhh, why am I not surprised - after a brief google, I see it's already a thing: https://www.forbes.com/sites/brucelee/2020/04/27/can-farts-transmit-covid-19-coronavirus-here-is-what-is-being-said/#2bf2ac60310f Stop the world, I really want to get off.
  15. What's the position on farting (apart from bent over with a grimace). These are the serious questions that have to be answered. Do I have to wear an **** mask?
  16. I had an email from IG helpdesk a few weeks back asking if I would be interested in joining their research panel. I think they mentioned that anyone that had opened a position in the last six months was 'on the list'. If you sign up I think every few months they will get in touch regarding 'projects' - could be anything from your experience of using IG, to testing out new products. Later on they mentioned face to face interviews and focus groups when the covid situation allows. It's not really my thing, and to be honest I don't have a lot of spare time at the moment to be bothered with it, but if you want to get involved and haven't been emailed,then it might be worth contacting the helpdesk about it. I don't think it's entirely unpaid - they mentioned something about Amazon vouchers as recompense.
  17. I guess the next big thing will be the realization that shops, buses, trains etc. actually need a certain volume of paying customers to make a profit and stay in business rather than the slow trickle of an old man's prostrate currently allowed under the distancing measures. I saw someone refused entry to a bus yesterday because it was 'full'. It had four people on it.
  18. Not all ETFs can be traded on an ISA due to taxation rules (beyond the control of IG). There are also some ETFs that are available, but IG will only allow 'professional' clients to trade. Safest bet is to use the tool that screens the ETFs available for trading on an ISA wrapper. https://etfscreener.ig.com/?cols=AssetClass,Currency,NetAssets,PrimaryExchange,ReturnM12&filters=GlobalSector,ISA,LeveragedFund,UCITS&map=null&ISA=Yes&page=1&sortCol=NetAssets&sortDir=-1
  19. Shhhh, I was under the impression that the minimum charge for not using their automatic currency conversion was $15 - at least that's what it says on their charges and commissions page: '*Note for multi-currency accounts: These figures apply to clients who opt for the default setting of 'instant currency conversion'. Clients who choose to convert currencies manually will pay commission of 2 cents per share with a minimum charge of $15 on US stocks.'
  20. Put 'verification' in the forum search box and it will probably give you a multitude of threads that will give an indication. I suspect a week will be highly optimistic. IG's customer service since lockdown seems to be slightly left of woeful - with the reported surge in accounts you might have thought they'd have invested a bit more into it.
  21. I believe it was put to the web development team for consideration a few years ago - Needless to say, they are still thinking about it...
  22. Nor do I. IG would doubtless claim extenuating circumstances due to the covid situation. Ultimately depends on whether you would want all the additional time and hassle to make a point. It's unlikely you would up with anything extra by going to the ombudsman, except possibly a dose of piles as you sit around waiting.
  23. Can't really argue with that. Providing of course you want to wait it out for an 'official' investigation.
  24. Not really what I said, or indeed anything remotely like it.
  25. I believe your favourite purveyor of roll d' sausage is reporting tomorrow. Could well be hardcrust.
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