blackjackbob

I've now opened an account with city index and using a platform called trading view which is very similar to IG's so quite pleased with that. They didn't ask me any financial questions at all, you only have to verify your address with a utility bill & driving license. So much for all this BS from IG.

I've posted about this on a private traders forum where we are all full time traders and nobody can see any sense in this, some have pro accounts and they all say there are no minimum income/savings requirements and it's none of their business anyway. I don't know what this is really about and neither does anyone else.

I sent them my last three bank statements but it made no difference they still closed my account. I really don't know what this is all about and will never find out. I think it's an appalling way to treat a long standing client but they obviously don't. I'll be looking at different platforms today. Good luck to all the suffer the same fate us us, I suspect there will be more but I don't understand this purge.

"Client Lifecycle" said that my income or savings does not meet their internal requirements to hold an account with them

I can no longer open positions and my account will be closed in 30 days. It makes no sense to me but "Client Lifecycle" say there decision is final. I'm now going to withdraw my equity and open an account elsewhere.

This is unbelievable My circumstances haven't changed in all the 15 years that I've held an account and now they say I don't earn enough to qualify! When did earnings become an issue? as long as you have enough equity to cover your margin that's all that is important.

This just happened to me this morning and have had an email asking for proof of my income. This has never been an issue in the 15years that I have had an account so I don't know why now.

I have been asked to produce statements to prove my earnings. I don't know why as I have held an account for 15 years and this has never happened before so why now? Income has never been a factor in holding an account so why now?