IG.com

xyz1967

I opened an account with IG, as recommended by MoneySavingsExpert, transferred funds in, and they quietly rejected the payment without any notification. I only discovered the issue by chance when I logged in, which is completely unacceptable for a financial institution handling client money. What should have been a simple “we can’t onboard you” turned into days of chasing just to get the account closed, with no proactive communication at any point.

When I raised a complaint through their website, I received an automated email that didn’t even acknowledge it as a complaint, nor provide a reference number. Instead, it told me that if I actually wanted to complain, I needed to go to a different link and submit everything again via their “official complaints procedure”. After they’d already failed to communicate basic information and wasted my time, being bounced to another complaints channel was just insulting.

The final straw was how much intrusive information they demanded just to close an account that had never been used and that they had already decided to decline. You need to email the cancellation request from a different email account (?). The list of personal and account details they insisted on providing was extraordinary – they wanted full identity details, address, contact numbers, account balance, information on the last market traded and even the last four digits of the registered card, all for an application they had already decided not to proceed with.

If this is how disorganised, bureaucratic and unresponsive they are before you even start trading, I dread to think what happens when real money and real positions are on the line. I’ve closed my account and will be taking my business elsewhere.

mebu60

As you had no money in there you could've just left the account open. They would likely have looked to initiate closing it themselves after a predetermined period of inactivity with a nil balance.

eskbanker

When I raised a complaint through their website, I received an automated email that didn’t even acknowledge it as a complaint, nor provide a reference number. Instead, it told me that if I actually wanted to complain, I needed to go to a different link and submit everything again via their “official complaints procedure”. After they’d already failed to communicate basic information and wasted my time, being bounced to another complaints channel was just insulting.

Technically a regulated institution is required to process a complaint on the basis of "any oral or written expression of dissatisfaction" but conversely they're obliged to publish a structured process, so it'll generally be more sensible to follow the defined procedure, which should be signposted from 'contact us' pages, etc.

flaneurs_lobster

I opened an account with IG.

Paid in £100.

They gave me £100.

Account is sitting with £5 in it.

I think they are jolly nice.

wmb194

https://forums.moneysavingexpert.com/discussion/6656710/ig-com

If you know IG has declined to open an account for you then won't it close as a matter of course? I'd just leave it.

Thems the breaks; I opened an account for the 8% interest incentive and I really like IG Invest. Its the only low cost broker I've used so far that'll give you 15 second quotes on London listed securities.