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IG account inactivity fee $50/qtr

Discussion in 'Brokers' started by just_jay, Nov 7, 2018.

  1. Triple B

    Triple B

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    OK just to summarize.
    No Leverage,
    No short selling
    Leverage causes overbought /overvalued condition
    Leverage pushes USD value down
    Grow your wealth slowly no borrowing
    Have I summarized that well?
     
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  2. Pixelperfect

    Pixelperfect

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    Precisely. Am I not being rational? ;)
     
  3. Triple B

    Triple B

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    Would you like to discuss in another thread? I will start one if you like?
     
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  4. Miner

    Miner

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    Joe The Admin
    Most of the postings on this thread are giving caution against using IG.
    On first opportunity I will sell the holding through them with an assumption that postings are correct.
    However I will call IG with a please explain call. What is important in case any of the postings are incorrect then potentially IG could take action to call ASF owner PLEASE EXPLAIN WHY WE SHOULD NOT SUE YOU. My fear and NEVER REPEAT NEVER Joe or any one of us in ASF to be in trouble directly or indirectly through any broker. So please get up and demonstrate in your own style to apprise you are also listening.
    Cheers
     
  5. Joe Blow

    Joe Blow Administrator Staff Member

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    I am unable to comment on the accuracy of any person's experiences with, or opinions about, any provider of products or services as I am not in a position to do so.

    The rules about posts concerning vendors of products or services have always been the same. Forum members are entitled to comment based on their own experiences or based on news, reviews or commentary elsewhere on the internet. However, it is not permitted for forum members to post falsehoods about any company or person. It is advisable for those linking to content elsewhere on the internet that they cannot verify as being accurate or true, to include a disclaimer to that effect.
     
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  6. Miner

    Miner

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    Thanks, Joe for listening and acting.
     
  7. Smurf1976

    Smurf1976

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    To clarify, my comments relate to my past use of IG which was more than 10 years ago.

    They may well be different now and I am not able to comment on that since I no longer use them.
     
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  8. Ann

    Ann

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    Thanks for jumping on board Pixelperfect to comment on this. Look forward to hearing more from you. Many years ago I went to a stockmarket trade fair and spoke to some representatives from one of CFD companies as they were just about to go into business here. All my alarm bells went off, I got the immediate feel they were spivs and crooks.
    I think I will just give them a big miss.
     
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  9. Triple B

    Triple B

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    Those reviews look pretty legit to me.
    Similar to my experiences.
    Joe who answered some reviews there has always been helpful for me.Even as a small account holder.
    I have had zero problems trading cfds in the last 12+ months. not sure of pixels experience .
    good luck with whatever you decide.
    You can take opinions from someone who is anti CFD anti short selling anti leverage
    and anti short term .
    Or from someone who has traded CFDs with 2 Companies for over 12 months.
     
    Last edited: Nov 18, 2018
    willoneau and Miner like this.
  10. AlterEgo

    AlterEgo

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    I'm also with FP Markets. I have been using them for many, many years. Never had a problem with them. They are a DMA broker. You can see your trades on the real exchange, so it's quite different to a Market Maker model that others use where you are trading an artificial market. With FP you see and trade the real ASX exchange prices. I have also never had any problem withdrawing money from them. I withdraw money from them regularly, just by sending them an email, and the funds are deposited in to my nominated account within 1-2days at the most.
     
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  11. rnr

    rnr

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    I agree, never had a problem either.
     
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  12. HelloU

    HelloU

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    thread seems to be way off topic ...but whatevs

    IG is DMA (L2). u can choose MM if u like and dark pool. u can place iceberg orders if u want and auction only orders. ask.

    fee rebates is on the increase as well, as said earlier IG are now targeting a particular client base (why that is i do not know)
     
  13. blue0810

    blue0810

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    I been using IG > 10years to trade CFD , happy to use them for many years more.
     
  14. Gringotts Bank

    Gringotts Bank

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    The "choose your client" framework versus the "service" framework. Some businesses nowadays will look at each client and ask "what are we [the company] getting out of this client?", rather than "are we providing a good service for this client?". I have worked for a company like this. It was extremely successful financially, but staff turnover was also very high. The "people as commodities" vibe was also applied to employees. It was a very harsh environment and there was no love lost.

    Banks have been like this for some time. If you have 10 mill cash, they will bend over backwards to get your business, offering extremely low interest rates not available to the hoi polloi. If you have a 5k account, they will slug you with fees as an active disincentive.
     
    Last edited: Nov 20, 2018
  15. Pixelperfect

    Pixelperfect

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    I'll just leave this video here. You be the judge
     
  16. Triple B

    Triple B

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    We are the judges . We are using these accounts and already know which type of Broker we are using .
    DMA or Market Maker or both . If you dont like how it works dont play.
     
  17. sasch

    sasch

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    I agree. I really think that it is a load of rubbish, claiming that 'Anti-money Laundry procedures' are the reason for these 'security checks'. Do I encounter these when I withdraw money from a bank, or other financial institutions - No. These extra processes are used as a deterrent, as far as I am concerned.

    If the transaction was suspicious or a large amount, then I would find these claims more believable, but often they are for trivial amounts (i.e. less than $1000).

    This is a somewhat recent exchange on the subject. I have only included the last few exchanges, as this dragged on for quite a few emails. In the end I actually gave up on this particular withdrawal, only to see it turn up in my account not long after the requests for proof of identity. I was then worried it was potentially an identity scam.

    Dear xxxxxxx,

    Thanks for your email.
    Please be aware that the email address we have registered for your account differs to the address from which you sent your recent email.
    In order for us to deal with your query, please send us an email from your registered address, or provide the following security information:

    - Your full name and date of birth
    - Your registered postal address
    - Your contact number
    - The balance on your account
    - The market you last traded
    - The last four digits of your registered card(s)
    If you’d like to update your registered address, log in to your account, and via My IG select ‘settings’ and ‘personal details’. Or confirm the update by reply, in addition to providing the security information above.
    We’ll ensure that your request is dealt with as soon as we receive the above information.


    If you have any further queries, please do not hesitate to contact us. Alternatively, we've recently launched our new Help & Support site which gives you answers from our huge knowledge-base, online community, and education hub.

    Regards,

    Trading Services

    IG

    Hi,
    I am definitely sending this email from the correct email address (xxxxxx.xxxx@gmail.com is registered in my user settings). There must
    be an error at your end if it is showing as a different address. I have always communicated from this address before without problem. If you send an email to my address specified in the personal settings, it arrives at this address.

    Furthermore, sending these types of documents via email is a security hazard, as it is an insecure (not encrypted) communication means. With identity fraud these days it would be recommended that IG offers an in-house communication system for sending and uploading documents of this nature.

    I appreciate that you need to conduct security checks, however, I have already verified my identity in the past, and find it frustrating that I have to do it again on withdrawal , as i can freely deposit without an identity check.

    Dear ******* ,

    Thanks for your email. We will take that as feedback. Due to our Anti-money Laundry procedures we need to conduct these security checks. on your deposit website page we do have a disclaimer saying that when you withdraw funds we can conduct any security checks we see fit. Our email server is very safe. We have never had any data breaches.
     
  18. Pixelperfect

    Pixelperfect

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    This is nothing more than to find out how much money you really have and your sources of finances. I wouldn't trust any broker at this point. All are in it to profit because they need to survive.
     
  19. HelloU

    HelloU

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    I have NEVER had to phone IG to complete a cash withdrawal.
    I have NEVER had to email IG to complete a cash withdrawal.

    (for bloke above, my interpretation is that the reference to 'account balance' was IG asking the customer what the balance was in the IG account. So tin hat not required for that.)

    Was gunna mention this friday but that would be on-topic.
     
  20. sasch

    sasch

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    I can only judge from my experience. I have been required to send additional email correspondence for withdrawals on at least three different times in a little over a one year, period which I have found a tad excessive.

    Other than that, I do not have a problem with any other aspect of their service. However, since I consider easy deposits and withdrawals an essential part of the broker service, I have been disappointed in this regard.
     
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