IG has withdrawn its recent free US shares and deposit match promotions and replaced them with a new incentive focused on investors transferring existing portfolios. Instead of sign-up bonuses, new clients can now receive up to £3,000 cashback when they move their investments to IG.
Is IG’s cash back offer any good?
The current promotion gives 1% cashback on transferred investments, capped at £3,000, when investors transfer a GIA, ISA or SIPP to IG using the promo code TRANS3K.
The offer runs until 5 April 2026 and applies to electronic shares, ETFs and investments transferred in-specie (moved without being sold).
This marks a shift away from short-term incentives like free shares towards encouraging larger, long-term portfolio transfers.
This replaces the popular “up to £1,000 in free US shares” campaign which generated very high demand, and IG is now reviewing the long-term customer value of those promotions. As a result, the focus has moved to attracting investors who want to switch platforms and consolidate their portfolios.
What’s the catch?
As with most transfer incentives, the headline cashback comes with a few important caveats:
You must already have investments to benefit. Unlike the free shares offer, this promotion isn’t aimed at new investors starting with small deposits. You only receive cashback if you transfer an existing portfolio from another provider.
You could be out of the market during the transfer. Transferring investments can take 3–6 weeks, during which time you may be unable to trade. This means you could miss market gains (or avoid losses) while the transfer completes.
SIPP transfers aren’t entirely free. While electronic share transfers are free, IG SIPPs are administered by Options Pensions, which charge:
- £205 annual SIPP fee
- £250 fee for in-specie SIPP transfers
These costs can reduce the real value of the cashback for pension investors.
Offer cannot be combined with other promotions and the transfer cashback replaces previous bonuses and cannot be used alongside other IG offers.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
To contact Richard, please see his Invesdaq profile.
