IG Group to split investment and trading accounts into separate entities

Home > News > IG Group to split investment and trading accounts into separate entities

IG Group has written to its investing and share dealing customers regarding a change of entity, under which the business that houses and administrates unleveraged investment and share trading activities, will change from IG Markets to a newly formed, but wholly-owned subsidiary of IG Group, called IG Trading and Investment Limited.

IG Trading and Investment Limited has been authorised by the FCA and will therefore be subject to the same rules and regulations as IG Markets, the business that previously housed IG’s non-leveraged trading and investment activities.

The Spread Betting and CFD trading clients of IG Group are unaffected by the changes. However, those that hold investment ISAs, SIPPs, Smart Portfolios and physical share trading accounts will be affected by the changes.

Clients who do have ISAs, SIPPs, Smart portfolios and or physical share trading accounts won’t need to take any action themselves.

IG Group (read our IG Review here) will transfer clients’ positions, investments and cash balances, between IG Markets and IG Trading and Investment Limited during the first half of 2022.

Though an exact date has yet to be fixed, IG will confirm that date nearer to the time of the transfer.

All client account details, logins and passwords etc will remain the same after the account transfers, between the entities, as will the trading platforms and services accessed by IG clients.

IG Group has said it will update its terms and conditions, and client agreement letters to reflect the change of entity.

There doesn’t appear to be any obvious reason why a client wouldn’t want to transfer their account to IG Trading and Investment Limited.

If that is the case, however, then clients will need to make other arrangements and move their investment accounts elsewhere.

However, given that Smart Portfolios are a proprietary product of IG Group it seems unlikely that clients would be able to transfer investments in these products, and they will no doubt have to be cashed in.

Clients of IG who don’t wish to move to the new entity have been asked to notify the company of their intentions by no later than the 20th of May.

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