We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

IG for SIPP

Morning everyone, I am searching information about IG platform for SIPP. what are the pros and cons? any opinions and experience would be very much appreciated!

Comments

  • tetrarch
    tetrarch Posts: 393 Forumite
    Part of the Furniture 100 Posts Name Dropper

    I did some investigating, mainly for trying to get some kind of leveraged or short exposure, specifically covered options

    Their offering is carved out to a third party and actually looks like an very expensive option IMO

    Regards

    Tet

  • charlie12525
    charlie12525 Posts: 121 Forumite
    Fifth Anniversary 100 Posts Name Dropper

    I'm still considering a SIPP transfer to IG.
    They have a good cashback offer...

    https://www.ig.com/uk/transfer-1-percent-cashback-feb-26

    IG accept SIPPs in drawdown, not all providers will.
    Mine is in drawdown and I would get the max £3000 cashback.
    The only thing stopping me from proceeding is that IG use a third party for the SIPP admin called Options Pensions.

    IG may be great for GIA or ISA (I don't know) but if you open a SIPP with them an important consideration is - how good are Options Pensions?

    Check out the Trustpilot reviews for Options Pensions / "Options For Your Tomorrow" and I think you will understand my reluctance to proceed.

    £3000 is a tidy bribe but I'm already tearing my hair out using CMC Invest and their third party outfit Quai.

  • Yanling
    Yanling Posts: 132 Forumite
    Eighth Anniversary 100 Posts Name Dropper Combo Breaker

    Thank you both very much!

    My Sipp provider is HL with tracker funds at the moment , but i am paying £700 annual platform fees and they are charging trading fees now. I am thinking of leaving. but dont know where to go? any recommendations? lol

  • tetrarch
    tetrarch Posts: 393 Forumite
    Part of the Furniture 100 Posts Name Dropper

    I moved my entire disparate SIPP inventory to II - I'm saving a fortune

    You would only pay £14.99 if you had a £1,000,000+ portfolio

    Regards

    Tet

  • winkowinko
    winkowinko Posts: 412 Forumite
    100 Posts First Anniversary Name Dropper

    I've just transferred my ISA and SIPP from ii to Freetrade for the 1% cashback, and reduced my platform fees from £15 per month to £0.

  • hoc
    hoc Posts: 599 Forumite
    Tenth Anniversary 500 Posts Name Dropper Photogenic

    A good platform for advanced users but they need to make UK tax wrappers more accessible

  • Yanling
    Yanling Posts: 132 Forumite
    Eighth Anniversary 100 Posts Name Dropper Combo Breaker

    Hi i do not quite understand what you mean, could you give a sample or a bit more explaination? thank you very much

  • Yanling
    Yanling Posts: 132 Forumite
    Eighth Anniversary 100 Posts Name Dropper Combo Breaker

    Hi that is very encouraging, if platform fee £0 ect, Freetrade need to ear some profits by charging their clients, what or how are they going to make profits ? or what or where do they charge? many thanks

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.1K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247.1K Work, Benefits & Business
  • 603.7K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.