Thursday, 20 August 2009

IG Index stole £20000 off me

Hi all, beware the spreadbetters - IG Index have literally stolen £20000 off me and I wanted to make sure it didn't happen to anyone else. I have an account with IG and trade S&P futures contracts which expired in Dec 09, on their platform. I had 6/7 short trades on and the market was going against me (the futures didn't expire until December!) - IG panicked and demanded by email that I increase my account to cover margin. I didn't see the email as I was working in Woking and whilst driving home started to receive constant text messages and when I got home an hour later I saw the texts were from IG closing my trades. I instantly called them and was told that I hadn't provided margin so they closed the trades - I explained that I was working in Woking and hadn't seen the email and only knew when they texted me and that I had the funds available.

To cut a long story short, they wouldn't reinstate my trades even though I had the margin money to cover it. I went to their compliance and they basically said we can do what we want - a licence to print money off unsuspecting punters. They will not return my money nor reinstate the trades and said if you are not happy go to the FOS - who take 2 years to answer complaints.

My message is therefore DO NOT USE IG INDEX AS THEY WILL STEAL YOUR MONEY.

I have written to Watchdog, The One Show and local newspapers - bought 2 domain names IGIndexarecheats.com and IGIndexarecheats.co.uk and I will hopefully, with help from all of you guys, get to the top of the Google search list and stop people from falling into the same trap.

Any help would be greatly appreciated, thanks

1 comment:

  1. Hi, I have a similar case and I'm wondering if you found any help in your progress to sue for reclaims?

    ReplyDelete