Over 40 years’ heritage
152,600 clients worldwide
Access to over 15,000 markets

Protecting your money

We protect our clients' funds, holding individual clients' money in segregated accounts.

 

Domestic account

Your domestic account will be held with IG Markets South Africa Limited. We protect our clients' funds, holding individual clients' money in segregated accounts.

What does 'segregated' mean?

Segregated client money is held entirely separate from IG's own money, ensuring that in the event of default by IG, client funds will be returned to the clients rather than being treated as a recoverable asset by general creditors of IG.

The money is 'ring-fenced' in separate bank accounts which are held in trust with the clients as the beneficiaries, and is not mixed with IG’s own funds.

How are my funds protected with IG?

Funds transferred from an individual client to IG will usually be received directly into a segregated client bank account.

If money from an individual client is received into a general IG account it is still considered to be client money from the time it reaches IG’s accounts (rather than only being considered client money once it has been placed into a segregated client account).

IG uses only its own funds for hedging and does not pass client money to hedging counterparties or to any part of the business as working capital. IG does not initiate speculative positions in the market. IG is debt-free, with substantial liquidity and capital reserves significantly in excess of regulatory requirements.

IG also has a ‘Client Money Committee’ which is responsible for ensuring the client money regulations are being adhered to in all IG Group entities, as well as reviewing and evaluating all the client money controls and procedures. The Committee meets monthly.

In addition, we have engaged PricewaterhouseCoopers LLP to conduct an independent review of our controls and procedures for client money calculation and segregation. By commissioning this report we have taken an additional step, over and above standard audit checks and our regulators’ reporting requirements. The report is freely available to clients – please email helpdesk.za@ig.com if you would like a copy.

Where does IG hold my funds?

For domestic accounts, all money held on behalf of clients is held in a segregated trust account with Standard Bank.

Are there any additional safeguards in place regarding client money?

IG’s client money processes and compliance with FSB legislative requirements are audited annually by its statutory auditors, and then reported to the FSB.

IG's offshore accounts are held with IG Markets Ltd, a UK company authorised and regulated by the FCA, FCA number 195355. IG has an exemplary record as a respected financial derivatives provider.

IG Group Holdings plc, the parent of IG Group, is listed on the London Stock Exchange and is a constituent of the FTSE 250 index. It has a current market capitalisation of approximately £2.2 billion (May 2014) and capital resources for the year ended May 2014 of £370.4 million. An unrivaled balance sheet and adherence to both London Stock Exchange and Financial Conduct Authority rules afford clients the security, resources and stability of a multinational organisation.

IG Markets South Africa Limited is regulated by the Financial Services Board (FSB) and is an Authorised Financial Services Provider, FSP number 41393.

Client money protection

All retail client money is held in segregated client bank accounts in accordance
with the FSB's legislative requirements.
IG only uses its own funds for hedging
IG does not pass segregated client money through to hedging counterparties
IG is not an investment bank
IG does not initiate speculative positions in the market
IG has no exposure to corporate debt
IG is regulated by the Financial Services Board (FSB)
IG is owned by IG Group Holdings plc – a FTSE® 250 company listed on the LSE

 

Are my funds held on a segregated basis?

At IG, all clients' funds are segregated from those funds belonging to IG, as per the general code of conduct for authorised financial services providers under the Financial Advisory and Intermediary Services Act (FAIS).

When you open an account with us we will hold your money on a segregated basis. This means that we pay each client's money – including deposits and net unrealised profits – into a segregated client bank account (i.e. an account which is separate from our own).

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, depending on the circumstances, clients may be eligible for compensation from the Professional Indemnity and Fidelity cover held by IG South Africa.

Related information

Our charges

Margin

Why IG?

 

International account

Your international account will be held with IG Markets Limited in the UK, allowing you to benefit from the security and protection of the FTSE-250 listed, IG Group.

What does 'segregated' mean?

Segregated client money is held entirely separate from IG's own money, ensuring that in the event of default by IG, client funds will be returned to the clients rather than being treated as a recoverable asset by general creditors of IG.

The money is 'ring-fenced' in separate bank accounts which are held in trust with the clients as the beneficiaries, and is not mixed with IG’s own funds.

How are my funds protected with IG?

Funds transferred from an individual client to IG will usually be received directly into a segregated client bank account.

If money from an individual client is received into a general IG account it is still considered to be client money from the time it reaches IG’s accounts (rather than only being considered client money once it has been placed into a segregated client account).

IG uses only its own funds for hedging and does not pass client money to hedging counterparties or to any part of the business as working capital. IG does not initiate speculative positions in the market. IG is debt-free, with substantial liquidity and capital reserves significantly in excess of regulatory requirements.

IG also has a ‘Client Money Committee’ which is responsible for ensuring the client money regulations are being adhered to in all IG Group entities, as well as reviewing and evaluating all the client money controls and procedures. The Committee meets monthly.

In addition, we have engaged PricewaterhouseCoopers LLP to conduct an independent review of our controls and procedures for client money calculation and segregation. By commissioning this report we have taken an additional step, over and above standard audit checks and our regulators’ reporting requirements. The report is freely available to clients – please email helpdesk.za@ig.com if you would like a copy.

Where does IG hold my funds?

All money held on behalf of clients is held in accounts with a diverse range of banks.

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 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.

Are there any additional safeguards in place regarding client money?

IG’s client money processes and compliance with FCA rules are audited annually by its statutory auditors, and then reported to the FCA. IG is also required to file a monthly Client Money & Assets Return to the FCA, a relatively new requirement that was implemented by the regulator in October 2011. The purpose of the Return is to ensure that the FCA receives regular and comprehensive information from a firm which is able to hold client money on behalf of its clients. This is only a requirement for medium and large firms (as defined by the FCA).

IG Group Holdings plc, the parent of IG Group, is listed on the London Stock Exchange and is a constituent of the FTSE 250 index. It has a current market capitalisation of approximately £2.9 billion (May 2016) and capital resources for the year ended May 2016 of £446.7 million. An unrivaled balance sheet and adherence to both London Stock Exchange and Financial Conduct Authority rules afford clients the security, resources and stability of a multinational organisation.

Client money protection

All retail client money is held in segregated client bank accounts in accordance
with the FCA's client money rules
All money held on behalf of clients is distributed across a diverse range of banks
IG only uses its own funds for hedging
IG does not pass segregated client money through to hedging counterparties
IG is not an investment bank
IG does not initiate speculative positions in the market
IG has no exposure to corporate debt
IG is regulated by the FCA
IG is owned by IG Group Holdings plc – a FTSE 250 company listed on the LSE

 

Are my funds held on a segregated basis?

When a client opens an account with IG, they will be categorised as either a retail client, a professional client or an eligible counterparty – and IG will inform them of this categorisation. All individual client funds, irrespective of classification, will be segregated, in accordance with the Financial Conduct Authority (FCA) rules surrounding client money.

The only clients who will not have their funds segregated from IG’s are those professional corporate clients or eligible counterparties who have signed a document consenting to a ’title transfer’ of their funds to IG.

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.

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 FSCS under the ‘banks/building societies’ claim category, up to a limit of £75,000 per person per institution.

Related information

Our charges

Margin

Why IG?

 

South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

Why two accounts?

We open two separate trading accounts for you when you apply, a domestic account held with IG South Africa and an international account held with IG UK.  This means that you can trade local instruments (in local currency) as well as over 15,000 international markets (in a range of foreign currencies) with the security, technology and support of the FTSE-250 listed, IG Group.

We do this in order to adhere to South African exchange control regulations that only allow local instruments to be traded on a domestic account. 

If you would like more information regarding your accounts, please contact us on 010 344 0051 or email helpdesk.za@ig.com.

South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

Contact us

We're here 24hrs a day from 9am Sunday to 11pm Friday,
and 10am to 6pm Saturday.

010 344 0053

You can also email helpdesk.za@ig.com