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IG

IG (page 3 of 5)

1.2 from 129 reviews · View Statistics
See the Best Forex & Share Trading Platforms in 2021 as rated by Australians on ProductReview.com.au.
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Reviews

  • Transparency
    1.2 (69)
  • Rates and Fees
    1.6 (5)
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Poor Customer Service and high fees

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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

Lauren
LaurenVIC
  • 2 reviews
  • 1 like

Stealing money from clients with consistent system error/fail

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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

troika1978
troika1978Greater Melbourne (Inner), VIC
  • 2 reviews
  • 5 likes

Thieves

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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!

Lloyd
Lloyd
  • 2 reviews
  • 1 like

completely and utterly USELESS....

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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.

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LB
LBBRISBANE
  • 14 reviews
  • 20 likes

The worst

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IG Feedback

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Php
PhpSydney, NSW
  • 6 reviews
  • 3 likes

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

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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

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V12RR
V12RRGreater Melbourne (Inner), VIC
  • 36 reviews
  • 31 likes

Manifestly Inadequate Platform - Total Waste of Time

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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.

Thuong
ThuongAdelaide

Fees and extremely slow withdrawals

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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.

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Andy
AndySydney, NSW

Wish I had never started with IG

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If you have ever looked into the world of brokers you will know that they make more money off your loosing trades than off your winning trades especially with their cfd accounts. IG have some fantastic psychological aspects that get beginner traders to over trade and and over risk their capital. The final straw for me was when their Pro Real Time wouldnt always show trades that had been executed on their web platform and when I tried to explain this to them they were very unhelpful. I strongly suggest to stay well away from IG there are so many better options out there.

Shivansh
ShivanshSydney, NSW
  • 2 reviews
  • 3 likes

Terrible Customer service

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I had a few problems with trades not going through and the service i got from there was abhorent. I have now switched to Selfwealth and really dont understand why I ever used IG, similar price but they are much better with great features. DO NOT USE IG

Known frustration
Known frustrationSydney, NSW
  • 7 reviews
  • 9 likes

They were ok until 2019

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Had IG from early 2017 until last year because they changed their policy stating that if I do not trade every quarter I will get charge 50 Dollars. Really? You have to constantly trade? My investments are supposed ot be long term and only few a year. What a joke! Switched to NAB and happy with it. Stay away from these platforms please. They will drain your money quickly

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Chris
ChrisSouth East Queensland, QLD

Limit order faults and close position faults

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I had multiple issues using this platform over the last few months that resulting in me losing a decent chunk of capital. The final straw was this morning. I have the '1-Click' trade option selected. I clicked on close trade...doesn't close, a new pop up opens (which would be normal if 1-click was not my standard setting) Clicked close trade a second time and the trade closed. The only problem is the volatile market had shot the trade 10 points in the opposite direction, resulting in a LOSS instead of PROFIT. Pulled all of my money just now and I'm going back to Saxo. AVOID.

Sue this illegal company, forcing the customer to lose money on purpose

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This company will stop you from cancelling your position on purpose and force you to lose money. Don't use their products. I cancelled my position but the system didn't recognise it and continue to operate the position. Don't bother to contact them, IG support won't help you.

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Less than 1 start

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This service is completely deceptive.
It closed for a long time when the price fluctuated sharply and you losing money.
they advertise the number of customers and the number of years on their website. Dont believe that. That's the number they cheated in those years.
Aussie dont try this.
Strongly recommend.

Hannes
HannesSydney, NSW
  • 5 reviews
  • 4 likes

Deceptive & misleading

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When you sign up you get to a Demo account (which is a CFD account) that has a lot of functionality. When you follow their videos for training they actively encourage using the benefits of these functions, e.g. trailing stops, deals vs orders, etc.
However, when you open a trading account (non-CFD) you do not get these functions with these safety features to protect your positions.
CFD accounts also come with interest charges that is very well hidden in mentioning anywhere. No wonder they put a warning on that people lose money using this. It is NOT a good account for long trades.
Buyer beware!

James
JamesDarwin, NT

IG are scam artists

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I shorted Webjet (WEB) and bought back my position at a tidy profit during their capital raising recently. For some unknown reason to me they have shorted the same amount of shares at the raising price and put that on my account. I never would have done that as I saw the raising price as rock bottom for the shares. Now the shares have risen and I'm sitting on a substantial loss. Took my an hour and half to finally get service and then when I wished to escalate my complaint they simply didn't even put me through to a manager. Shocking, appalling company operating beyond decency and probably beyond the law!!!!!

Do not use IG

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These guys are robbers ... Fees are over the top especially the overnight $20 . Too hard to make money even when you profit from trades you can still lose . Please don't do it

  • Verified

Not suitable for long term trading

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Took me less than 10mins to start an account. deposit is very easy and no question is asked. After i find out about their hidden fees i tried to withdraw back to the SAME bank account and that's when all the red tape suddenly appeared. Asking for numerous evidence and then declined when I provided them. Tried to call several times, no one have answered yet.
The subscription fee make it hard for long term investors, you have to trade every month. NO customer services at all.

Peter
PeterGreater Melbourne (Inner), VIC

Never use IG! It is a disaster!

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Hello,
I am really frustrated by IG. 2 week Ago I placed an order for Australian index 200 ending with huge losses. If I was beaten by the market, I have nothing to say. But I found IG put the trading size 15 as default. My loss was enlarged and out of my control. I am really angry with this. How is this come? This is my third trade and I only played with size 1.
Their service centre don't even want to reply my email for 2 weeks.
It seems that this trading platform is full with traps and tricks. I can’t accept it and consider to report to Australian watchdog.

Pete C
Pete CGreater Melbourne (Metropolitan), VIC
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Stay away, being investigated by regulator

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TraderInAus
TraderInAusGreater Melbourne (Outer), VIC

Honest long time user

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Jon Z
Jon ZGreater Melbourne (Inner), VIC
  • 6 reviews
  • 4 likes
  • Verified

A terrible company

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They cancelled my withdrawals until I provided bank statements. I submitted copies of bank statements and I got emails from payments that it's ok, only to have the withdrawal rejected again, this time by the help desk.
A very unprofessional outfit, must be very careful dealing with them.

Alan J
Alan JSydney, NSW

IG fee for no service after transferring shares

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I see that many people are in the same boat as me. I used IG because they had no fees, then they introduced a $50 per quarter fee for "inactivity" which they then renamed to a "subscription fee". I was disgusted and transferred all my shares from IG only to find that IG CONTINUE TO CHARGE $50 per quarter AFTER TRANSFERING ALL SHARES. I think there must be a lot of people who are now being charged a fee for no service by IG and would welcome a group action against them.

Sharon
SharonFar North Queensland, QLD
  • 11 reviews
  • 8 likes

Moving my shares to a platform with NO hidden fees

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These guys were great UNTIL they introduced the fee for inactivity. I joined as they advertised NO fees then they turn around and add them. Not what I signed up for so leaving. This is not a good platform for small investors who only make a few trades per year.

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