Looking for more information about our services? Browse our FAQs below for answers to popular questions.

Alternatively, please feel free to contact us and we’ll be happy to assist you.

Contact us

Our dedicated customer service team is here 24 hours a day from 8am Sunday to 10pm Friday, and 9am to 5pm Saturday.

If you have any questions about our service or need help opening account, call 0800 409 6789 or email

Alternatively, you can call 0207 896 0079 or tweet @IGClientHelp.

The value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results.

What type of products will I be invested in?

IG Smart Portfolios are built using iShares ETFs from BlackRock, the world’s leading asset manager. ETFs are exchange traded funds, a form of passive investment that seeks to track the performance of an index or other assets. Find out more about ETFs.

How much do you charge for IG Smart Portfolios?

We're committed to being transparent about our charges, so we’ll show you your total cost of ownership (TCO) before you invest. This is our estimate of all the costs you’ll incur in owning a Smart Portfolio, and includes your IG management fee (including VAT) and the Total Expense Ratio (TER) of the ETFs you’ll hold. There are no sign-up fees, exit fees or hidden charges.

Total value of IG Smart Portfolios (per bracket)           

On the first £50,000

Between £50,000 and £250,000 Over £250,000

IG management fee


0.35% 0.1%

Average ETF costs1


0.22% 0.22%

Total cost of ownership (TCO)


0.57% 0.32%

Our fee structure applies to each IG Smart Portfolio bracket (general, stocks and shares ISA or SIPP) and is based on the underlying value of all the portfolios you hold within it – so the more your investments are worth, the more you’ll save.

For example, if your general investment Smart Portfolios are worth £75,000, we’ll charge you a management fee of 0.65% on the first £50,000 and 0.35% on the next £25,000. If, in addition, you have a Smart Portfolio ISA worth £20,000, we’ll also charge you 0.65% on that amount. To make things easier, we’ll always show you the average management fee you’re paying.

Fees are quoted annually for greater clarity, but are calculated daily and charged on a monthly basis.

Is there a minimum holding period?

There’s no minimum holding period, and you can withdraw your money at any time through our online platform. That said, our portfolios are based on a long-term investment strategy and are not designed to be used as a short-term investment option. 

Is there a minimum investment?

Yes, there is a minimum investment of £500 for each portfolio you create.

We will not invest any funds into your portfolio until you have deposited at least £500. If you’d like to make regular contributions to your portfolio, you can set up a standing order from just £50 per month.

How are fees charged?

Our management fee is quoted as a yearly percentage figure, based on the value of your underlying IG Smart Portfolios within each portfolio bracket (general investment, stocks and shares ISA, or SIPP). However, fees are calculated on a daily basis, and you’re charged at the end of each month for any fees you have accrued.

Because we do not allocate any cash to your IG Smart Portfolio, we will sell a small amount of the ETFs you hold to cover the monthly fee.

The TER for the ETFs held in your IG Smart Portfolio is automatically deducted from its performance.

Do you offer advice?

Yes. Based on your answers to a series of questions designed to determine your appetite for risk, we help you find the IG Smart Portfolio that’s right for your risk profile. This is considered to be regulated advice under FCA regulations. However, it is not classified as investment advice and does not take into account your personal circumstances. We will not provide you with a personal recommendation.

After you’ve selected your IG Smart Portfolio we make decisions to buy and sell your investments on your behalf. We take into account the information you provided when you set up your IG Smart Portfolio, including your knowledge and experience of investing, and your financial situation. This means we’re acting as your discretionary investment manager, and do not have to ask for your consent for every transaction we make. Instead, you agree that we’ll take responsibility for your investments when you accept our Terms and Conditions. We manage your account with care and experience, and in accordance with the information you provided.

What are the risks?

As with all investing, your capital is at risk. The value of your IG Smart Portfolio could go down as well as up, and you may get back less than you invest.

It’s also important you understand the risks of the ETFs which are held in your portfolio. Each ETF seeks to track a benchmark, and its holdings are not altered in rising or falling markets. This means that when the benchmark falls in value, the ETF will too. 

There are many different types of ETFs and some are riskier than others. The risks of each ETF are dependent on the benchmark the ETF seeks to track (i.e. what the ETF itself is invested in). For example, ETFs invested in emerging markets are often subject to higher levels of volatility than those invested in the developed world, while the price of an ETF invested in bonds is likely to change if interest rates do. If an ETF is invested in a security which is listed in a different currency to that of an IG Smart Portfolio (GBP), your returns will be affected by changes in the foreign exchange rate. If you want to find out more about the ETFs in your IG Smart Portfolio, you can access the ETF-specific tear sheet on our platform, or you can read the Key Investor Information Document. 

Each IG Smart Portfolio is properly diversified and holds a range of ETFs. This means that if one ETF falls in value it should have less impact on your portfolio than if you only held a small number. This should lower your overall investment risk, although diversification and asset allocation cannot fully protect you from market movements. 

What types of IG Smart Portfolio do you offer?

We offer three types of IG Smart Portfolios: our general investment portfolio has no limit on contributions, while you can also invest via a tax-efficient stocks and shares ISA or SIPP.2

Remember, there are restrictions on how much you can invest each year via an ISA or SIPP.

If I am an existing IG client how do I create an account?

Existing CFD, spread betting or share dealing account holders can log in to My IG, click 'add another account', then select ‘add IG Smart Portfolio’. From here you will be directed through the account-opening process. 

How do I open a new portfolio?

You can create multiple IG Smart Portfolios if you’d like to start saving for different objectives. Log in to your Smart Portfolio account, open the platform and select ‘create new’ to open a new portfolio. 

Is there an inactivity fee for IG Smart Portfolios?

No. There is not an inactivity fee for IG Smart Portfolios.

How do I add funds to my account?

You can add funds to your account quickly and easily by debit card, PayPal, or by bank transfer. Simply log in to your Smart Portfolio account, click the ‘add funds’ button next to the relevant portfolio and follow the instructions.

If you’d like to make regular contributions to your portfolio, you can set up a standing order from just £50 per month.

Please note, we do not accept deposits made by credit card.

What if I’ve lost my login details?

To reset your password or receive a username reminder, click here.

What currency can I use to invest with?

You can only invest in an IG Smart Portfolio with GBP. If you make a deposit in a non-GBP currency, we will automatically convert it into GBP at the prevailing spot rate, plus our FX conversion charge of 0.3%. 

Can I use my IG Smart Portfolio as collateral for a leveraged account?

No, this isn’t something we offer. 

How long will it take to invest my money once I’ve deposited funds?

We aim to invest your money as quickly as possible, and we can usually do this as soon as you fund your account, provided the stock market is open. However, remember it will usually take 2-3 working days for the trade to settle. 

Will I receive dividend payments?

Just like shares, some ETFs will pay out dividends. When these dividends are paid out, we’ll use the money to buy more ETFs and grow your portfolio. Therefore, you will not receive the dividends as an income stream – they’ll be automatically reinvested in your portfolio. 

Do I receive any interest on cash balances?

No. As we aim to invest all of your available money, there shouldn’t be any cash held on your account for a significant period. We won’t charge a management fee for any cash balances, either. 

Where can I see the fees I have been charged?

You can see a detailed breakdown of all the fees you’ve been charged in the ‘overview’ section of the Smart Portfolio platform. We’ll also send you periodic reports by email so you have an official record.

What are the fund charges?

ETFs have a small charge built into their performance, known as the Total Expense Ratio (TER), which is automatically paid to the ETF provider. The average TER for the iShares ETFs held in IG Smart Portfolios is 0.22%,1 compared to 1.58% for active funds domiciled in the UK.3

How often do I need to complete the risk questionnaire?

We’ll ask you to complete a full risk questionnaire when you open your first IG Smart Portfolio, and to answer at least some of the same questions whenever you create a new one. We’ll also ask you to update the full risk questionnaire at least every 12 months, but you must inform us if your circumstances change in the meantime so we can adjust our investment approach if necessary.

Do you have a mobile or tablet app?

We currently don’t have a dedicated app, but our website is designed to work on your phone or tablet. If you’re using an Apple or Android device, you can bookmark our login page on your home screen for quick access to the platform.

Who manages my investments?

We’re responsible for constructing and managing your IG Smart Portfolio, but our decisions are based on BlackRock’s asset allocation models. 

Working in collaboration with BlackRock’s Model Portfolio & Solutions (MPS) team, we use these models to provide you with a range institutional-quality portfolios. Our dedicated portfolio management team is then responsible for monitoring your investments, drawing on BlackRock’s research to rebalance them as market conditions change.

Will you send me a statement?

Yes. We’ll send you a report by email every six months (or every three months upon request) which outlines:

  • how your portfolio’s performing
  • the ETFs you’re invested in
  • your transactions over the period
  • any fees we’ve charged you

If you would like this in a paper format through the post, please let us know. There will be a charge of £1 for this. 

Alternatively, you can view a detailed breakdown of all your investments and their performance at any time through our online platform. 

What is rebalancing?

Rebalancing is the process of adjusting the weightings of the assets held in our portfolios. It involves buying or selling assets periodically - or in response to market conditions - to ensure our portfolios maintain the right asset allocations for their designated risk strategy and investment objectives

Why do you rebalance my portfolio?

We regularly rebalance your portfolio to ensure it has the best possible asset allocation for your risk profile. This helps to keep your portfolio performing in line with your investment objectives, and repositions your investments to take advantage of the latest market opportunities.

Who rebalances my portfolio?

We’re responsible for rebalancing your portfolio, but our decisions are based on asset allocation models devised by BlackRock. When BlackRock makes any changes to its models, we will review the data and update the asset allocations in our portfolios as we see fit. 

How often do you rebalance my portfolio?

We will typically rebalance your portfolio on a quarterly basis, but we monitor your investments daily. This means we can rebalance the asset allocations in your portfolio whenever necessary, and respond to changes in market conditions.

Will I know if my portfolio has been rebalanced?

Yes. You will be able to see any changes to your IG Smart Portfolio in your trade history. Simply log in to your My IG dashboard, click on your portfolio and select ‘trade history’. We will also send you an email explaining what adjustments we have made and why. 

Do you rebalance automatically?

Yes. We do all portfolio rebalances and dividend reinvestments automatically on your behalf, for no additional charge.

What documents do you need from me to open an account?

In some circumstances we may be able to open your account without requiring any specific documents, as we’re able to run electronic checks to confirm your identity. If we’re unable to do this, it’s likely we’ll require a copy of your passport and a recent utility bill. We’ll inform you of the documentation we need when you apply for an account.

How long will it take to open an account?

We aim to open your account as quickly as possible. We request some straightforward information, and ask some questions to help us make informed decisions about how to invest your money. In the event we require more information from you, it may take a little longer to open your account.

However, we have a large customer support team, so most accounts can be opened on the same day you apply.

What countries do you offer IG Smart Portfolios in?

Currently, we only offer IG Smart Portfolios to investors based in the UK and Germany. However, we’re looking to expand our offering to other countries in due course.

What countries do you offer share dealing in?

We currently offer share dealing to investors based in the UK, Germany, France, Australia, the British Virgin Islands, the Cayman Islands, Cyprus, Gibraltar, Ireland, the Isle of Man, Jersey and Malta.

Do you offer joint accounts? 

We don’t offer joint accounts for IG Smart Portfolios because of the nature of the service we provide.

However, we do offer joint accounts for share dealing. Anyone who wants to hold a joint account will need to set up an individual account first. Once completed, we’ll send you a Joint Account Opening Form. We’ll either create a new account for all the named persons, or turn one of the individual accounts into a joint account, depending on your preference. 

Can I grant another person power of attorney over my account?

You can set up power of attorney over a share dealing, stocks and shares ISA or SIPP account, as long as it isn’t held within an IG Smart Portfolio. To set up a power of attorney, please complete the relevant form on our website.

Do you charge for transfers in or out of IG?

No, you can transfer your investments without any charges from us.

How do I transfer my investments to IG?

To transfer your existing investments to IG you need to have an IG share dealing account. Once you’ve opened your account, download the relevant transfer form. It only takes a few minutes to complete.

Can I send a scan of my stock transfer forms to you?

While we’re happy to accept scanned copies of your documents with wet signatures, we find that many other brokers want to see the original copy. As such, please post your original forms to us to avoid any unnecessary delays. 

Our address is: Stock Transfers, IG, Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA

How long will it take to transfer my investments to IG?

To transfer your investments to IG, you only need to complete one short form and then we'll take care of the rest.

We anticipate the majority of transfers will complete within 3-6 weeks, however this can vary as transfers are dependent on the transferring broker and beyond our control. 

Where can I see the progress of my transfer?

We’ll keep you informed of the status of your transfer with regular emails.

Can I open an IG Smart Portfolio ISA and a share dealing ISA in the same year?

Yes. Each tax year you’re only able to open one stocks and shares ISA and one cash ISA. An IG Smart Portfolio ISA and share dealing ISA are both stocks and shares ISAs, but as they’re held under one entity, IG Markets, they’re classed as a single stocks and shares ISA.

This means you can open both accounts, and invest your full ISA allowance (£20,000 for 2017/18) between them.2

How much can I deposit in a cash ISA and a stocks and shares ISA each year?

For the 2017/18 tax year, which runs from 6 April to 5 April, you can invest £20,000 in total between a cash and a stocks and shares ISA. Remember, you can only contribute to one cash ISA and one stocks and shares ISA each tax year.2

Do you offer junior ISAs?

No, this isn’t something we currently offer. 

How are dividends paid to my account?

As soon as we receive a dividend payment from any of the shares you own, we will credit your account. It will appear on your ledger as additional cash. You can choose to either reinvest it or withdraw it. 

We’ll also send you a Consolidated Tax Certificate (CTC) which summarises any UK and overseas dividends and interest paid on securities between the dates indicated. The CTC may also be referred to as a Consolidated Tax Voucher (CTV). These are usually generated in May or June, to cover the tax year just ended.

What products can I invest in through an ISA or share dealing account?

We offer over 10,000 different shares and ETFs on our platform. If there’s a share or ETF you’d like to invest in that isn’t on our list, we’re happy to see if we can add it to our platform. Send an email to if you’d like to request a new product.

How do I set up collateral?

You can use up to 95% of the value of the shares in your share dealing account as collateral on your spread bets or CFD trades. To find out how to set up collateral on your account, please click here.

Can I use an ISA as collateral?

No, this isn’t something we offer.

Can I monitor my investments on my phone or tablet?

Yes. We have a dedicated app for your iPhone or iPad, which you can download from the Apple store. If you’re using an Android device, you can download an app from the Google Play store. If you don’t want to download the app, our website is designed to work on your phone or tablet.

Can I access live share prices?

Yes. To access live share prices log in to My IG, go to the ‘settings’ section and select ‘data feeds’. 

What is a W-8BEN form and why do I need one?

A W-8BEN form enables us to claim a reduction in the amount of US tax you’re charged on dividends from US shares. It is a mandatory form to fill out if you want to trade US shares. You can find the form here.

How long does it take to withdraw funds once I have sold shares?

Once you’ve sold any investments with IG, you may have to wait a couple of days to withdraw your funds. This is because we need to wait for your shares to settle. This normally takes two days for UK equities (T+2) and three days for US equities (T+3). Once you’ve sold your shares you can use the cash to trade more shares immediately, you just won’t be able to withdraw your funds until we’ve physically received them from our broker. 

Do you offer flexible ISAs?

Flexible stocks and shares ISAs are a new addition to ISAs that allow you to withdraw some of the money invested in your ISA and reinvest it at a later date, without reducing your total allowance. So if you’ve got a flexible ISA with £10,000 of funds invested in it, and you withdraw some of those funds, your remaining ISA allowance will increase to reflect the funds that you can now pay back in.

Flexible ISAs launched on April 6 2016 and are available through the IG platform.

How can I see when dividends are paid?

The best way to see when a dividend will be paid is through our economic calendar. Once a dividend is paid, and we’ve received the money from our custodian, we will credit it to your account. 

What are the fees?

You can find details of all our fees and charges here.

Do you charge an annual management fee for an ISA or share dealing account? 

We do not charge management fees or ongoing platform fees for an IG share dealing account or share dealing ISA. If you have an IG SIPP there is an annual charge payable to James Hay Partnership, our SIPP administrator. We will not charge you a management fee unless you’re invested in an IG Smart Portfolio. 

You can find details of all our fees and charges here.

Will you send me/my company a copy of contract notes?

Whenever you make a trade we’ll send you a statement with the details of the trade you placed. 

We’re also happy to send a copy of the contract notes to your employer. If you’d like us to set this up, please send a request by email to along with the following information:

  • your address
  • your date of birth
  • your telephone number
  • the last market you traded
  • the email address you would like a copy of your contract notes sent to 

Can I see historic share prices?

Yes. To view historical price data simply log in to My IG, open the share dealing platform and click on the chart icon next to your chosen market. You can choose whether to view the buy or sell price by clicking on the chart settings button in the top right of the chart window. 

What types of order do you offer for share dealing?

We offer several types of orders:

Limit execute & eliminate – an order which executes as much of a trade as possible at a specified market price. If there aren’t enough shares available at the specified level to fill the order, the maximum possible number of shares are executed and the rest of the order is cancelled. 

Limit day – an order which executes once the market price reaches a specified level. If it isn’t filled by the end of the trading day, the order will expire.

Market day – an order which executes immediately in full if enough shares are available. If not, the maximum possible number of shares are executed and the rest of the order remains outstanding until the end of the trading day. This order type is unrestricted by price. 

Stop market day – a market day order which executes in full when a specific price (the stop level) is surpassed. If there aren’t enough shares available, the rest of the order remains outstanding until the end of the trading day. This order is often used for locking in profits or limiting losses.

Can I add a stop or limit to a share dealing position?

No, you can only add stops or limits to spread bets or CFD trades. 

What is a SIPP and what are the benefits of having one?

SIPP stands for self-invested personal pension, a way of saving for your retirement which enables you to take control of your investments. 

While other types of pension will restrict you to the set number of funds offered by your provider, a SIPP lets you invest in a wide range of securities. That means you can trade the markets, with any profits you make going into your pension pot. It also means putting your pension at risk if the markets move against you, though.

SIPPs are subject to the same tax benefits as other types of pension, so you’ll receive tax relief equal to your current income tax rate. The government will automatically top up your contributions with tax relief at 20%. Higher-rate tax payers can claim an extra 20% back as a rebate, while top-rate tax payers can claim an extra 25% back.

How do I open an IG SIPP?

There are two ways to invest in the IG SIPP – you can either choose your own investments with a share dealing SIPP, or you can let our experts make the decisions on your behalf with an IG Smart Portfolio SIPP.

To open a share dealing SIPP, you first need to open an IG share dealing account. Once you’ve done this, simply log in to My IG and click ‘add another account’, then select ‘add SIPP’. When you add a SIPP to your IG account, you’ll be taken to James Hay’s website to complete your application. James Hay Partnership administers our SIPPs and will handle all of your account administration. Please note that the SIPP application form is not mobile-friendly.

If you’d like to open an IG Smart Portfolio SIPP, you’ll need to create an IG Smart Portfolio account and select 'SIPP' as your investment option. Once you complete our risk-profiling questionnaire, we’ll suggest an IG Smart Portfolio that’s right for your risk profile. You’ll then be taken to James Hay’s website to complete your SIPP application.

How long will it take to open an IG SIPP?

Once you’ve completed your SIPP application, it can take up to five working days for your SIPP to be opened. You’ll receive a confirmation email from IG once your application has been received. When your account is open, you’ll receive a welcome pack in the post from James Hay. 

While your account will be set up as soon as possible, James Hay will need to set up a corresponding bank account and perform other administrative tasks before opening your account. 

How can I contribute to an IG SIPP?

Cash contributions can be made to an IG SIPP by you, your employer or another third party in the form of a cheque or direct bank transfer. To set up regular contributions or to contribute with a one-off payment, either indicate you wish to do this during your online application or fill out a Supplementary Contribution Form and send it to James Hay.

You can also transfer in existing investments you may hold in another pension. 

How do I transfer my investments from an existing pension into an IG SIPP?

Transferring your investments into your SIPP is simple, and can be done in two ways. First of all, you can let James Hay know that you have pension investments to transfer during your online application.

Or if you want to transfer investments after your SIPP is opened, you can download, fill out and send a James Hay transfer form. When the transfer is complete you’ll see your portfolio on your account.

James Hay will not charge for transferring a SIPP, but will charge for contributions made in the form of investments not currently held in a pension. Find out more about James Hay’s charges.

There is no IG charge for transferring an existing SIPP from another provider.4 The time it takes to complete a transfer can vary, as it depends on how long your current provider takes to release your funds.

Please be aware that we do not offer OEICs or unit trusts on our platform.

Who can open an IG SIPP?

Any UK resident under the age of 75 can open an IG SIPP.

Why should I open an IG SIPP?

We’ve agreed an annual administration fee of £195 with James Hay, which makes our SIPP one of the most competitive offerings in the UK. You’ll also benefit from our low commission fees and no set-up or custody fees. Our partnership with James Hay also means the application process is fully digital.

Who are James Hay?

IG SIPPs are administered by James Hay, using their ‘Modular iPlan’ product. James Hay is a leading pension provider, trusted by nearly 56,000 clients to look after more than £19.4 billion in investments.5

We’ve teamed up with James Hay because the company shares our focus on using technology to help investors control their trading with speed and simplicity. That’s why you’ll be able to apply for your SIPP entirely online, and why you can use a digital signature to save days on your application.

James Hay will deal with all of the account administration relating to your SIPP. We act as the broker and will help you with any trading-related queries.

What does it cost to set up?

It’s free to open an IG account, but if you want to start trading via your SIPP you’ll have to open a Modular iPlan and pay an annual administration fee of £195 to James Hay. This will be taken out of your first deposit into your SIPP.

There’ll be additional trading costs if you make your own investment decisions, and if you choose to invest in an IG Smart Portfolio you’ll pay an annual management fee. 

Find our full charges and fees here.

What is the minimum and maximum amount I can deposit?

There is no minimum deposit, and you can invest everything you earn in a tax year into your pension without incurring a tax charge, up to a maximum of £40,000 for the current tax year. There is also currently a lifetime limit of £1 million.

If your total income in a tax year exceeds £150,000, then the £40,000 annual limit is reduced, ‘tapering off’ by £1 for every £2 of income earned over £150,000. The minimum annual allowance you can receive is £10,000, if your total taxable income is £210,000 or higher.1

There are other circumstances in which your annual limit may differ from the above. Contact James Hay for full details of taxes on your SIPP.

How do I fund and withdraw from my SIPP?

Unlike other IG accounts, you won’t be able to add or withdraw funds from your SIPP on the IG platform. Instead, you’ll have to complete money movements to and from IG via James Hay. You can do this by contacting James Hay directly on 03455 212 414, or alternatively log in at James Hay Online once your SIPP account has been opened.

SIPPs are subject to the same rules for withdrawals as other pensions, meaning that:

  • you can start withdrawing funds at the age of 55
  • you can withdraw 25% of your funds immediately as a lump sum, without incurring tax charges*
  • you can choose from several options how to take your funds, including an annuity or drawdown

For more information on taking your pension, contact James Hay.

*Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.

Can I open more than one SIPP account?

You can open one share dealing SIPP and one IG Smart Portfolio SIPP, which are held under one IG SIPP account. You can’t open more than one IG SIPP account, but you can hold multiple SIPPs with other providers.

Can I open a SIPP if I’ve joined through an Introducing Broker (IB)?

No, although we may be able to offer this in future. 

How do I close an account?

You should contact James Hay directly for instructions on how to close your account.

Where are the terms and conditions?

All terms and conditions can be found on James Hay’s website.

How do I transfer funds to my SIPP?

All transfers into an IG SIPP must be completed through James Hay. To arrange a transfer, please contact them on 03455 212 414. We cannot transfer funds from another IG account directly into your SIPP.

If I have a complaint, who do I address it to?

If your complaint relates to the service provided by IG, you should contact our customer service team at 0800 409 6789 or, as the vast majority of complaints can be dealt with at this level.

If you have a complaint about the administration of your SIPP, you should direct it to James Hay in the first instance.

Why do I need to contact James Hay for some of my questions?

James Hay handles all the account administration relating to your SIPP, so will be in the best position to answer some of your questions. We act as a broker and can answer any trading queries or questions relating to IG Smart Portfolios.

What should I do if I have a complaint?

In the unlikely event of you having any reason to feel dissatisfied with any aspect of our service, in the first instance you should contact our client services team on 0800 409 6789, or email, as the vast majority of complaints can be dealt with at this level.

We will acknowledge your complaint within 24 hours and provide details of the next steps. You can read more about our complaints procedure here.

What currencies can I deposit on my account?

You can hold multiple currencies in a share dealing account. However, if you have an IG Smart Portfolio, stocks and shares ISA or SIPP, cash must be held in GBP to comply with HMRC rules. You can convert funds easily through My IG. Click ‘settings’, then select ‘currency conversion’ on the left-hand side and follow the instructions. 

Is IG regulated?

Yes. IG Markets Limited (IG) is a London-based financial services firm, authorised and regulated by the Financial Conduct Authority (FCA). IG is owned by IG Group Holdings PLC, an established FTSE 250 company with a market capitalisation of £2.1 billion (May 2017).

You can read more about IG Group.

What is the Financial Services Compensation Scheme and am I eligible?

The Financial Services Compensation Scheme (FSCS) is the UK’s compensation fund of last resort for customers of authorised financial services firms. If a firm becomes insolvent or ceases trading, the FSCS may be able to pay compensation to its customers. The FSCS covers business conducted by firms authorised by the Financial Conduct Authority (FCA).

IG clients would fall under the ‘investments’ claim category, whereby the cover is £50,000 per person per firm. If a client held an account with an authorised investment firm and there was a shortfall in segregation, they might still receive up to £50,000 in compensation.

You can read more about how client funds are held here.

What happens if IG goes into liquidation?

If IG goes into liquidation, clients whose funds were held in segregated accounts would have their share of the segregated money pool returned, minus the administrators’ costs in handling and distributing these funds.

If there was a shortfall then individuals (and some smaller companies) may be eligible for compensation from the Financial Services Compensation Scheme (FSCS). 

What happens if a bank holding client money on behalf of IG goes into liquidation?

Selection of banking counterparties will only take place once a full risk assessment has been undertaken, and all banks are monitored on an ongoing basis and fully reviewed semi-annually, to ensure that they continue to meet the requirements of the FCA’s rules and IG’s own policy on banks holding client money.

Any losses would be shared by clients in proportion to their share of the total amount held with a bank which has failed. In the UK, any funds lost as a result of this would be covered by the Financial Services Compensation Scheme (FSCS) under the ‘banks/building societies’ claim category, up to a limit of £75,000 per person per institution.

How can I be a ScamSmart investor?

The FCA’s ScamSmart initiative can help you check the legitimacy of any investment opportunity before committing any capital. Visit the ScamSmart site to learn the warning signs of investment fraud, get impartial advice about how to avoid it, or report a suspected scam.


1 The Total Expense Ratio (TER) for the ETFs in an IG Smart Portfolio is subject to your portfolio allocation and will be between 0.20% and 0.23%. Correct at 28/03/2017.

2 Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.

3 Source:

4 IG SIPPs are administered by James Hay, who charge a £195 annual fee and may charge for transferring investments not currently held in a SIPP. You may be out of the market for a period while your transfer takes place.

5 As of December 2015.