What we do with your money
When you deposit money into an IG account as a retail client, it's protected in a number of ways.
Call 010 500 8624 or email newaccounts.za@ig.com to talk about opening a trading account. We're here 24 hours a day from 9am Saturday to 11pm Friday.
Contact us: 010 500 8624
Call 010 500 8624 or email newaccounts.za@ig.com to talk about opening a trading account. We're here 24 hours a day from 9am Saturday to 11pm Friday.
Contact us: 010 500 8624
The essentials
Your money is held in segregated client bank (independent trust) accounts at registered banks
Your money is never merged with IG’s own money
Authorised and regulated by the Financial Sector Conduct Authority
Your assets are held by a custodian in segregated (nominee) client asset accounts
Your money is ring-fenced from creditors in the unlikely event that IG goes into liquidation
IG doesn’t use your money for business activities, including for hedging trades with other counterparties (or as margin for our own hedging trades)
What happens to the money I deposit with IG?
Your money is held in segregated bank accounts under trustee arrangements. This ensures that the cash remains yours, rather than IG’s. It also means that it’s easily identifiable as client money, so IG and its creditors don’t have any charge, liens, or rights of set-off or retention over it.
All monies held on behalf of clients are held in accounts with a range of top banks registered in South Africa such as Standard Bank and Absa Bank. We intentionally ensure that we keep client money separate from IG's funds by opening separate bank accounts for client money.
What happens to my money or assets if IG goes into liquidation?
In the unlikely event of this happening, all our clients would have their share of the segregated money, minus the administrators’ costs in handling and distributing these funds.
Interest earned on your cash
We place the full balance of client funds into segregated bank accounts. In South Africa, these segregated bank accounts earn interest at a rate determined by the respective bank. The client funds are paid out using the reference rate SABOR less tier % based on the cash balance to a maximum of 2%. The difference between the two rates, are retained by us as an administration charge. Each of these rates are fully disclosed in client month end statements.
Interest is calculated on the cash balance, which is the cash ledger balance plus unrealised profits less unrealised losses. Balances in currencies other than South African Rands do not attract credit interest.
Premium Services
We place the full balance of client funds into segregated bank accounts. In South Africa, these segregated bank accounts earn interest at a rate determined by the respective bank. Client funds earn interest using the reference rates indicated in the table below.
| Cash Balance | Interest rate |
|---|---|
R0 - R500,00 |
SABOR-2% |
R501,00 - R1 million |
SABOR - 1.75% |
R1 million - R2.5 million |
SABOR - 1.5% |
R2.5 million and above |
SABOR - 1% |
The difference between the bank interest rates and the reference rate above, is retained by us as an administrative charge. Each of these rates are fully disclosed in client month end statements.
Interest is calculated on the cash balance, which is the cash ledger balance plus unrealised profits less unrealised losses. Balances in currencies other than South African Rands do not attract credit interest. The preferential rates indicated in tiers 2-4 need to be agreed and confirmed with the Premium Services desk on an individual account basis.
What happens to my money if one of the banks IG uses to hold client money goes into liquidation?
In the event of South Africa-based bank defaults, clients’ money held in the trust account will be treated as a liability of the bank and dealt with in accordance with applicable laws and regulations of the FSCA.
Open an account now
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to 17,000 global markets, with reliable execution
React faster with powerful technology
Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach
Grow your confidence with an established provider
We’re a FTSE 250 company that’s been leading our industry for nearly 50 years, so our expertise is second to none
Open an account now
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to 17,000 global markets, with reliable execution
React faster with powerful technology
Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach
Grow your confidence with an established provider
We’re a FTSE 250 company that’s been leading our industry for nearly 50 years, so our expertise is second to none
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We're clear about our charges, so you always know what fees you will incur.
With tiered margining we can offer lower rates for the majority of positions.
See how we've been changing the face of trading for more than 40 years.
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Interested in opening an account?
Contact 010 500 8624 or
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