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Dog of a broker
Facts: The share platform is nothing more then a red herring to get stock traders to there CFD platform. They have next to no risk control on the stock platform yet surprising on the CFD platform which they have full control of pricing etc you get the works. They are a con and the stream they are pushing is right down the waterfall on there CFD platform. To top all this off they introduce a fee per quarter of $50 a quarter for anyone that trades less then 3 shares or CFDs. My expereince and from what I have read is you will be bitten on the CFD platform by system matic issues hint hint nudge nudge. Beware and be warned.
NEVER TRADE WITH IG!
They find anyway they can to grab your money, from not allowing you to place a stop loss in a trend with 'system' error to a 'spike' in the market but no other charts with the exact some product shows this spike that happens to trigger your stop loss (if you got one one) my favorite is your order disappearing on your chart and having to find it on the positions screen. ohh and the Indian call center which apparently is in Melbourne is a joke, very patronizing. Use ANY other Australian broker than these crooks!
Criminals - How is this company allowed to operate in Australia?
I was lured in by their $8 brokerage fees, only to be emailed later to be informed that they had now changed the terms and conditions of use and that they were now going to be charging a $50 subscription fee four times a year if you trade less than three times per quarter.
This company are basically bandits - avoid at all costs - terrible experience no customer service
Almost criminals - they make it extraordinarily difficult to withdraw your OWN money. They try and find every single excuse they can to block your withdrawal, its been almost a week and I cannot access my money.
Importantly you do not own the shares they are held in the custody of someone else!!!!
These people are cheap for a reason - they are basically bandits! Avoid them at all costs.
If you want a low cost option use CMC Markets they cost barely much more - but you get a whole different world of service to having the shares in your own name.
Absolutely dreadful - and they don't care
I was lured in by the $8 brokerage fees. I left Commsec because I was sick of paying $30 brokerage (which is more than what they charge for international brokerage).
I joined IG in May and have been trying to transfer my shares from Commsec. Its now August, and IG still hasn't been able to get this done. They're completely incompetent.
It's hard to actually fund your account to trade with them! Their preference is credit card so they can charge you fees, or debit card. I have tried multiple times to use my debit card, but they keep insist...ing that my card is American and can not be used! It's from an Australian bank! Their computer systems are woeful and they don't care. You can't trade on a lot of markets: New Zealand, Netherlands, China, and they don't even have all the stocks on the ASX! NOW they have introduced a quarterly fee of $50 for people who don't trade very often. THEY DON'T WANT YOU IF YOU'RE A NORMAL LONG-TERM SHARE INVESTOR. They're after day-traders and CFD gamblers who they can win thousands of dollars from. It's like when a casino kicks people out because they're successful. These guys only want the losers that will fill their coffers by trading maniacally and frantically.
Worst Company Ever
I had a mere $1100.0 with them tried to withdraw, what a nightmare that was, Please do not deal with this company, if I could give them and minus 10 I would. They just have procedures that beggars belief. All I wanted to do was withdraw my funds what this company did to that is a nightmare.
Please take my advice DO NOT deal with them.
Charged fees for nothing
I was charged a $20 for nothing. I called to ask what the charge was for as I saw $20 was taken out on a Saturday. They said it was because I wanted to see Level 1 access. I’ve never used it. Never approved it. Never applied it. They said they aren’t going to reverse a charge even though they can see it was turned on and off. I explained that I didn’t do it. They said they can see that I have because they don’t have technical issues on their side. I don’t know what else to say except they stole money from my account for something that I didn’t ...do and they said they won’t reverse it. They won’t reverse a $20 bogus charge even though I’ve spent so much money on commissions trading on their site. I don’t feel my money is safe on the IG platform and they treat you like dirt. Avoid at all costs!!!!!
Qantas should not be partnering with IG
I signed up first before coming to this site to read the reviews. Luckily I have not put any money into the account. I only opened because Qantas was offering points for opening an IG account. They should know better than partnering with IG, considering they have not responded to any of these complaints.
What a joke, shocking customer service: especially in Melbourne
My friend told me before I opened up an account, that most of these cowboys have got shocking service and to lower my expectations, boy did I lower them and I was still shocked
Amongst small issues that pale in comparison, I signed up thinking I was going to be a welcome customer,
Signed up, a few days later get a call from these idiots, I assume to confirm some details, I called this guy called [name removed] back multiple times, across two weeks, in the end I got annoyed and asked someone else to see what I needed to complete my accoun...t. Each time I got told it wasn't their account so they couldn't do anything, finally after 2 weeks, I get a one reply email saying "I was on annual leave" In the meantime I had written a complaint to the general enquires line about this matter, after following it up for a week, I got told by [name removed] that there was no record of it, and I must have made a mistake. So I fwded the original emails all of them again, to the same email, and to him as well, and waited until he received them, naturally the complaints were all ignored. I then get told that he doesn't do emails, only phone calls, and phone is the best/only way to contact him. I was like WTH!
IG IS a SCAM - Beware - Beware
I thoroughly agree with other reviewers. I have been trying to close my account for several months now and IG refuse to give me my money. IG state they rely on European Regulations which state I must prove whom I am. NOTE: European Regulations have no validity or jurisdiction in Australia. I believe IG has a BREXIT Headache. I have sent in three different bank statements and IG deem to find fault with all of them. I have been dealing with IG for some time and I have provided IG with details of my Australian Passport and Australian bank accounts.... BEWARE - IG take opposite positions to those of their 'Clients'. Due to high risks with derivatives I believe IG has a liquidity problem and cannot service obligation when they come due. If you purchase IG records from ASIC, IG does not have a CEO in Australia. Two of the nominated directors for Australia live overseas (UK and South Africa), where the Company Secretary Natalie Jane Beirne lives at Albert Park Victoria. IG is very cheap and this is reflected in their poor customer service and refusal to provide profit on trades. SAVE YOURSELF MUCH TIME<,TROUBLE AND MONEY and use another broker. IG is a scam. IG also appears to be illiquid and may be placed in liquidation by Australian courts.
Let’s sum it up real quick and simple, cheap and nasty. These guys make it really hard to redeem your money after investments have been sold. They charge an arm and a leg to trade internationally and their customer service team is terribly trained. Save yourself some time, dont bother.
Their cheapness really reflects from their service
"I seen an add on theage.com.au for IG trade shares for 8$/trade on 10th, wow what a deal am paying 11 / trade in cmc, so I opened an account online and transferred 700$ on 11th Aug through bpay from my ing account, then ride to the hell start, when I looked ig website/app I found very soon the reason for cheapness their trading platform is from hell, after emailing them for couple of days to ig guys for clarification, when they agreed that their 40 years heritage has no idea of the basic share trading. I decided to leave doing any trade with t...hem and transferred my money from ig to ing account on 15th but I did not knew that IG has still got more lesson to teach me that how cheap and dumb they are. So I got a message on 16th Aug that my transfer has been canceled reason their AML requirements. So its my 3rd day chasing them to understand their aml thing nobody bothered so far to explain me what they want. Sometime they ask me to prove that I paid them through bpay from ing account with statement showing full name, address, account no. just for 3 days old transaction. Sometime they ask me prove that the account you are transferring money IG is yours with statement showing name address account no. as everybody knows banks in Australia don't issue you with statements everyday with your name address transactions on official letter heads. I got no idea what these people want, I sent so many photos screenshot from mobile app as well as laptop for my online account transaction. I may have to go to consumer affairs to get my money. No other bank in Australia ever asked me to prove that I transferred money from my one online account to my other online account. Such a pain these guys are. Lucky I had not traded any share with them, so they are harassing me for my own money. May they are thinking terrorist from Syria paid me 700 into my ig account to trade share now am the one ripping of terrorist by transferring 700 to my own account. How many people in Australia see money dropping into these share trading account from hell. Well ig think so, that's why if you transfer your own money to ig and not trade with them, all money becomes their and they will give you when they want to. Beware of IG scam, yes they are cheeeeeeaaaaappppppp..."
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