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IG

IG

1.2 from 81 reviews · View Statistics

Reviews

1.2

81 reviews
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    1.4 (46)
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Broker to Broker Transfer

published

IG Markets are extremely slow in performing a Broker to Broker transfer - transferring ASX shares out of IG Markets to another broker.
I was told it may take 3 weeks which is not acceptable with today's technology.
You cannot speak with the transfer team so basically left in the dark. The IG Help desk can communicate via an internal email system however without success after multiple attempts.
I suspect it may take 4-5 weeks so I think it may be be quicker to sell stock within the IG platform and transfer the cash over to another broker - this should take 2 days.
This benefits IG Markets via commissions.
Be warned - IG Markets are very slow if you require your collateral with another broker.

Incentivised ReviewNo
TheSaintof2020

TheSaintof2020Greater Melbourne (Metropolitan), VIC

Don't bother

published

My hard earned money was stolen by these thieves who seem to have ties to sovereign hedge funds that run the world. Don't bother about getting your money back. You are their slave and they can get away with stealing your money by changing the Terms and Condition without your consent or permission. Don't expect regulators to come 'save you'. They are fully aware of what's going on but they won't do much about it. It's only a crime if you were to rob a bank but a bank can rob anyone because it's perfectly legal. Their platform is incredibly dodgy and full of exploits and questionable but somehow it's perfectly legal. Not sure the federal police aren't involved in this.

Transparency
Incentivised ReviewNo
Eddie

EddieSydney, NSW

  • 2 reviews
  • 2 likes
  • Verified customer

Have cost me time and money and customer service is truly awful

published
Transparency
Incentivised ReviewNo
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Romeo

RomeoSydney, NSW

worst nightmare/ withdrawal seems impossible

published

Everything i have read below seem all legit. I wish I have read this before using this platform.
worst customer service. withdrawal seems next to impossible after supplying all the document they have asked. I still haven't been able to withdrawal after 2 weeks of attempt.

Transparency
Incentivised ReviewNo
1 comment
Romeo
Romeo
agnish

agnishGreater Melbourne (Metropolitan), VIC

  • 10 reviews
  • 5 likes

Worst of the worst / Took me 3 weeks to get my own money back

published

Changed my method of payment as I lost my card which was original method of deposit, they asked me so many documents like they are running a FBI. Countless emails sent but still no luck as cust service blaming credit team and credit team keep asking to send the documents again and again saying we can't read your documents, and then they said your account is fine at our end. Hopeless. Stay away, poor service. Company is not open honest and informative in regards to business practice, and quarterly charges

Transparency
Incentivised ReviewNo
Kirkleton

KirkletonSouth East Queensland, QLD

  • Verified customer

Cheap and you get what you pay for.

published

They have an O.K. platform with charts. Not very user friendly. They have cheap (there’s cheaper/better places)But will still charge you $50a quarter even if you can’t trade your assets.

Transparency
Incentivised ReviewNo
John D.

John D.Sydney, NSW

Do not use IG

published

Do not use IG unless you plan on at least 3 trades per quarter or more. Their fees are horrendous for inactivity which no other platform seems to charge. Have always traded with CBA and read that IG had lower fees, hence setup an account and did a single $500 trade about a year ago and forgot about it, logged in today to see that I owe them $200, so much for low fees. Just plain thieves, there was no transparency when setting up the account about this fee. Moving and will never be back. Thanks for nothing IG.

Transparency
Incentivised ReviewNo

POOR SERVICE HIDDEN COSTS

published

After trading the US market with Australian dollars I found the conversion fee horendous. When I first discovered what I have been paying, nobody at IG can explain to me how they calculate the fee because the staff actually have no idea. If you are privelaged enough for them to answer the phone or respond to your email, their calculations and examples of fees actually don't add up. Even their calculators don't work. Steer clear

Incentivised ReviewNo
Shweta

ShwetaSydney, NSW

Worst Customer Service ever - Do not sign up!

published

Useless customer service! Worst service I have ever come across! Just want to steal your money! I have been trying to withdraw funds back into my account for ages now and still they keep coming up with excuses. do not trade with these people they are absolutely horrible!

Transparency
Incentivised ReviewNo
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Poor Customer Service and high fees

published

I've been trying to withdraw my funds for 2 weeks no out of IG to no avail, been on the phone to them every day and it seems that they keep no record of those conversations so it feels like I have to explain the situation everytime to a new person. The platform is buggy and the customer service is terrible at best. There are other brokers with better customer service and MUCH lower fees

Transparency
Incentivised ReviewNo
Lauren

LaurenVIC

  • 2 reviews
  • 1 like

Stealing money from clients with consistent system error/fail

published

I just started trading shares about 3 months, most of my time was wasted on either chasing why my balance did not match it supposed to or why the system was not working again
For the new starters: suggest go somewhere else rather than stuck with such a platform

Transparency
Incentivised ReviewNo
troika1978

troika1978Greater Melbourne (Inner), VIC

  • 2 reviews
  • 5 likes

Thieves

published

I traded with IG 2 years ago and was just sent an overdue bill for $200 worth of subscription fees due to inactivity that I never signed up for or agreed to. As far as I was aware I was done trading with them 2 years ago and now they demand payment. I queried with them and they said pay it first then we'll close it. Absolute thieves!

Transparency
Incentivised ReviewNo
Lloyd

Lloyd

  • 2 reviews
  • 1 like

completely and utterly USELESS....

published

very quick to set you account up and deposit, but the second you have an issue; you're on your own.
The worst customers service I have ever experienced in my entire life - just try and call the help number once you've signed up; i honestly don't think they actually have anyone sitting on the other end. I was "on hold" for over and hour and a half before i gave up.

I honestly cannot stress enough, how much you should avoid this absolutely useless mob.

Transparency
Incentivised ReviewNo
LB

LBBRISBANE

  • 12 reviews
  • 20 likes

The worst

published
Incentivised ReviewNo

IG Feedback

published
Transparency
Incentivised ReviewNo
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Php

PhpSydney, NSW

  • 6 reviews
  • 3 likes

happy to take money into the platform, almost impossible to get withdrawals!

published

happy to take money into the platform, almost impossible to get withdrawals! useless customer service. limited options trading and expensive. there are restrictive platforms for trading options for Australia sadly

Transparency
Incentivised ReviewNo
V12RR

V12RRGreater Melbourne (Inner), VIC

  • 30 reviews
  • 25 likes

Manifestly Inadequate Platform - Total Waste of Time

published

If you have any intention of day trading stay as far away from ig.com as you possibly can. Their platform is hopeless. For example, you cannot even sort the biggest gainers from the biggest losers which is a most basic sorting requirement. They have no scanner for share trading or anything like it. The platform or work space has next to no functionality. The help files do not apply to a share trading account only CFDs. Total waste of time. And forget about support. Try waiting on hold for 40 minutes at a time and then they can't answer the questions in any case.

Transparency
Incentivised ReviewNo
Thuong

ThuongAdelaide

Fees and extremely slow withdrawals

published

This lot are out to rip you off. $50 inactivity fee per quarter. If you are a long term investor and make less than 3 trades a quarter, you'll be hit by this fee. This is $200 per year. At no time at signing up to IG was I made specifically aware of this and had to look into this myself. Sneaky.

I deposited $1000 using a debit card and this was pretty much instant. Withdrawing the same amount using the same method has so far taken 4 days and still no sign of my money.

Transparency
Incentivised ReviewNo
Cat

CatPerth, WA

  • 10 reviews
  • 7 likes

Yep its a pretty stinky review from me too.

published
Transparency
Incentivised ReviewNo

Avoid

published

Absolute time wasting, do not go near them. I lost 2.3btc investing and after months of trying i hired Birman law to get my money back, unfortunately that was another waste of time. I had to allow my cousin venture into the darknet and he got me a blackhathacker who helped get my money back. It was nice receiving my bitcoins back, i happily gave his cut to him as agreed. You can write him at [details removed] at hackwithme, tech. He’s extremely efficient.

Incentivised ReviewNo
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Questions & Answers

humberto h.

humberto h.asked

show me a good broker in Australia,Thanks,

No answers
Ben S.

Ben S.asked

What platforms are people using to open share accounts? I'm planning on buying and holding so want no hidden / subscription / dormant fees.

Coming from the UK I used hargreaves and landsown - it's great.

In Australia all the fee's (brokerage) seem very high, lots of hidden fees.

I want access to all overseas markets (mainly US and UK).

Any advice?

No answers
arthur

arthurasked

who pays the broker his fees for handling my account if i join

4 answers
Adrian
Adrian

HI Arthur,

I'm not sure I really understand your question, as the answer seems obvious, so are you being sarcastic?
I actually don't regard IG as a stock broker in the traditional sense. They are for people who ACTIVELY TRADE.
Now I don't trade share CFDs, so cannot comment on that aspect of their business, but as people have pointed out here they seem to charge $50 if you don't trade at least 3 times. Hardly a big deal in my opinion.

If you trade Forex and other non-share CFDs then there are no fees to my understanding. No commissions (on their regular account anyway). Only spreads. So the more you trade, the more times you pay the spread, and the more times IG generates revenue for themselves.

So if you are an investor into shares, I would probably suggest you look to join a regular broker. In the end its all about TOTAL costs.

Hope this helps.

Jon Z
Jon Z

YOU Arthur, or more exactly the owner of the account.

arthur
arthur

no i wasnt being sarcastic it was a genuine inquiry as i have never been involved in this type of thing before thanks anyway regards arthur

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