IG Markets and personal information

[Lacanau]

Hi Everyone,

Just wanted to check with everyone about something. I was signing up for an account with IG markets, and they asked all the usual questions when I signed up. After completing my application however I get an email asking me exactly how much I'm earning a year gross, along with the current value of my liquid assets!?

I feel like this is an attempted invasion of privacy, and don't want to disclose this information to them (just yet). I've read good things about these guys and would like to open an account with them. Does this mean I have to go elsewhere?

Thanks in advance

 

[remme001]

It's a regulatory thing, pretty much every FCA regulated CFD/Spread bet broker asks the same questions. Things like, current occupation, main source of income, current employer, questions on how much capital (excluding illiquid assets) you have.

 

[luckystrike23]

yes the FCA is urging brokers to be stricter and ask for more information http://www.financial-spread-betting...-warns-regulated-cfds-providers-urges-action/

 

[malaguti]

I was able to create a junior isa for my daughter yesterday, no questions asked. no proof of a daughter (birth certficate for example) i was just able to create and stick money in it..so much for money laundering...it can only be broker by broker rather than an FCA regulation

 

[remme001]

I was able to create a junior isa for my daughter yesterday, no questions asked. no proof of a daughter (birth certficate for example) i was just able to create and stick money in it..so much for money laundering...it can only be broker by broker rather than an FCA regulation

A junior ISA is very different to a leveraged CFD/Spread bet account.

 

[highbury fx]

It's a regulatory thing, pretty much every FCA regulated CFD/Spread bet broker asks the same questions. Things like, current occupation, main source of income, current employer, questions on how much capital (excluding illiquid assets) you have.

Not an FCA thing.

We're FCA regulated and we ask applicants for their income, savings and investments in terms of different bands.

For corporate accounts we ask for turnover levels.