IG for SIPP

Yanling

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!

tetrarch

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

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

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

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

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

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

Yanling

https://forums.moneysavingexpert.com/discussion/comment/81905262#Comment_81905262

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

Yanling

https://forums.moneysavingexpert.com/discussion/comment/81905251#Comment_81905251

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