IG

[Julian Strickland]

IG provide ISA, Stockbroking and spreadbetting accounts. They can facilitate an SIPP through a third party.
They have a useful APP for trading on the move.
You can hold cash in foreign currency with the stockbroking account to avoid excess FX fees.
I find that their alerts for stocks are flexible and usefull i.e you can set an alert when the 3 crosses the 8 MA of price.
Recently however they are let down in my opinion on the poor customer service. When the site goes down they don’t answer the phone and the chat help does not work. They seem to think that a customer forum is an acceptable substitute for customer service.

[Mike Newman]

I’ve had a spreadbetting account with IG for many years which I use to trade options as profits are tax free, unlike options trading profits with a ‘proper’ broker are taxable unless in a SIPP (options can’t be traded in an ISA). I’ve recently opened a shares and an ISA account with IG which so far seems to work well with a useful range of web site features. Their trading web site uses all the screen width, so more info can be displayed – unlike say HL with lots of unused space down each side of the screen. The IG accounts can’t trade ‘funds’ which I don’t use anyway. I do agree that their customer service has deteriorated since before Covid.

[Jeff Jones]

IG have been transferring the custody and operation of their stockbroking accounts to a third party, who is Interactive Brokers.

They have only given customers a few days notice of this, so there is no realistic opportunity for customers to transfer out before this happens. They don’t actually tell customers it is moving to IBKR either, unless we ask customer service.

The new broker does not offer RSP quotes. The alternative is limit orders. As many readers will know, these tend not to execute and if the real price is inside the quoted spread, the investor doesn’t know precisely what that is without the benefit of a live RSP quote.
I believe this is unsuitable for dealing in UK small caps.

To compound this, there are instances of them not following government guidelines and transferring accounts out in under 30 days.

• This reply was modified 1 month, 1 week ago by Jeff Jones.

[John Calvert]

I transferred an ISA to IG Group in January 2026 because they offered a Flexible ISA at low cost. At first I was restricted to what I could buy until my classification was changed to that of professional investor. Then came the migration to IBKR in July, and the problem is back. Today I tried to buy Supermarket Income REIT, only to be told I wasn’t allowed to as I’d been reclassified as a retail investor by the new platform. The trouble is no one replies to requests for help. Not email, not live chat and not WhatsApp. Today I managed to speak to some help line person, who sounded to be in India, who informed me that they were getting a lot of problems and I should make a complaint. So, complaint sent and I await a response. In the meantime, does anyone have a name I can contact who might help?

[Amit VEDHARA]

A ShareSoc Director will be speaking to IBKR’s CEO shortly and will discuss their odd policy on investment-trusts being only for Sophisticated jnvestors. Let’s hope we can change the rubric there.

[Amit VEDHARA]

A ShareSoc Director will be speaking to IBKR’s CEO shortly and will discuss their odd policy on investment-trusts being only for Sophisticated jnvestors. Let’s hope we can change the rubric there.

[John Calvert]

Thank you Amit.
To hopefully apply more pressure I have today messaged the AIC and Johnathan Davis of Money Makers, to ask them to also lobby IG Group and IBKR on behalf of both the Investment Trust Industry and Investors.

[John Calvert]

Amit,

Here is an email I have had from the Association of Investment Companies (AIC)

“We have had various interactions with Interactive Brokers. They do not seem keen to engage with the realities of the listed investment trust universe. Do they not provider you an “appropriateness test” which is a quick on line test which if passed allows you to trade “complex” vehicles for a period of 2 years after completion.

The nonstandard KID is just another thing they are hiding behind as they don’t really understand the nuances or rationale of these temporary documents. That issue will go away in June 2027 as KIDs are being discontinued and replaced with the product summary.

We previously dealt with the UK CEO gperez@interactivebrokers.com. You may wish to pass this on to your contacts at Sharesoc as if we continue to try and engage the same person (UK CEO) it is more likely to gain traction.”

[Amit VEDHARA]

Thanks John. Have passed this to the Director involved so that he is fully informed.
Best regards

[Jeff Jones]

I would also contact management at that REIT, with a request for them and/or their broker to take the matter up with IG/IBKR.

I had success via this route a few years ago, when Halifax Share Dealing incorrectly classified VLE ad a PRIIP and were waiting for a KID. Halifax customer services were, as usual, totally ineffective when I contacted them. The VLE CEO got the problem solved.

• This reply was modified 1 week, 2 days ago by Jeff Jones.

[John Calvert]

Thanks jeff. That’s a good idea. I’ll send SUPR a message.

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