Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. The IG broker does not accept 3rd party payments processors for further safety and fund security. More from this Firm. The traders can use bank wire transfers, cheques, as well as a wide range of credit and debit cards including Visa, MasterCard, Maestro, Electron and much more. Do let us know and we'd be happy to check ourselves and fix if necessary. The entire sector is trying to defend itself from misleading advertising for high-risk products. Last year IG ventured into some political events binary options and offered betting on the outcome of the Brexit vote and the US presidential election.
IG Group and binary options IG Group, with its head office in London, is one of the longest-running and most popular stock-brokers. It began in with bets on gold whilst today it is a foreign exchange broker present in 15 countries.
IG Group: binary options forbidden to new clients
According to MiFID, the product falls under a complex financial product category. However, in the UK it is regulated as a gaming product. Moreover, Kieran McKinney, director of corporate affairs explained:. I think that product will come under regulatory pressure in the future.
Yet, clients who currently use Sprints will still be able to access it. Since IG admits the fact that this is a limited risk product and is popular with current clients. According to analysts from Liberum, the withdrawal of the product could be a "pre-emptive measure to mitigate further regulation". This instrument enables investors to place bets on whether the price of an index or currency will be up or down at close of trading.
From 2 July , regulatory interventions mean that certain products are unavailable to retail traders. As a result, we can only offer digital s to professional traders. To find out more about this, and to check whether you are eligible for a professional account, please see our professional account page. Digital s are based on a single statement with a yes or no answer, and enable you to speculate on the likelihood of a market event taking place.
If you predict the outcome correctly, the trade will return a profit. The price of a digital ranges from 0 to This price reflects our view on the probability that this event will occur, based on the behaviour of the underlying market and how long the digital has until it expires. The more likely we think it is that the event will occur, the closer the price will be to If the digital statement is true in this case, if the FTSE finishes up , the price settles at Each of these factors impacts the chances that a given market event will occur.
For full details including spreads, dealing hours and margins for digitals, follow the link to our help area. Professional clients can lose more than they deposit. All trading involves risk. The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The broker is authorized and regulated by the Financial Conduct Authority FCA under register numbers and IG is thus a global financial services provider and offers site and customer support in many different languages.
IG has a great educational center, offering both simple trading elements as well as more advanced tutorials to help make the best out of your investments. The video guides will provide instruction on all features available and there are also educational materials on different trading strategies as well as analysis tools. FAQ section seems to be still in developing phases where we can see some obvious missing details on banking, trade requirements and more.
However, the customer support is very competent and available to answer any questions you might have, while also being able to solve technical and other issues users face. Banking is very easy and straightforward with IG, where they allow many different payment methods for both deposit and withdrawal. The traders can use bank wire transfers, cheques, as well as a wide range of credit and debit cards including Visa, MasterCard, Maestro, Electron and much more.
The IG broker does not accept 3rd party payments processors for further safety and fund security. To restate this, all traders will have to provide personal info and trading experience as well as confirm their ID through a verification process.
Traders can also make smaller withdrawals but with certain fees and through a procedure that includes a phone call. The customer support is very informative and you will be able to easily get to details on your preferred method. However, we do expect this to be updated with the new FAQ section. Founded in and online since , IG is one of the top financial service providers in the United Kingdom.
Authorized and regulated by regulatory bodies around the world, the broker provides favorable conditions and overall safety and security.
Binary options under increased scrutiny. IG Group has most likely renamed the product to prevent bad publicity around binary options from reaching the company. The swift . B ritain’s biggest financial spread betting firm has rowed back on one of its binary options betting products in the wake of the financial watchdog’s clampdown on the industry. Digital s are based on a single statement with a yes or no answer, and enable you to speculate on the likelihood of a market event taking place. If you predict the outcome correctly, the trade will return a profit.