The new Terms & Conditions, any clue???

[Tri]

IG has come up with new T&C for using their services. Every time I log in , the screen shows the count down to the time I have to accept those.

 

Every large organisation , when they change their T&C they send you a brief outline of what the majour changes are.

All, but IG. No attempt to clarify what has been changed and why.

IG is very amateurish in this and most aspects. Can't they do a better job, than just mug our money?

 

And will happen if I don't accept the changes? Will I not be able to log in, or my account deleted and my money scooped away and shoved in IG bosses pockets, or what???

 

Accepting the changes means nothing in practice. We click and that is. Who is going to read tons of pages of small print, conflicting with each other terms, only made to protect IG but none to protect the customer? Basically, so far I see it, T&C say that IG can do anything at any time and traders have no recourse to anything but just pay up or else.

So what are the changes, mods???

[Caseynotes]

Hi   Not that much has changed from the version you signed on join-up. What is different is in bold print so you can skim through. Mostly just re-wording to make clearer your responsibility re; margin requirements, use of third party data providers, up-dating contact details. I think the bit about recording all comms with client is new.

 

Any-one spot anything else?

[JamesIG]

Hi - thanks for your message, and also for  additional post. 

 

We have recently made some changes to our customer agreement and privacy policy. We email clients giving an overview of these changes, however for convenience I have included the quoted text below. As with any query or question you have, or if you’d like to receive a copy of your existing terms, please contact our customer service team. They’re available 24 hours a day from 8am Sunday to 10pm Friday, and 9am to 5pm Saturday. 

 

______________

 

We’re making some changes to your customer agreements (‘agreements’) and privacy notice, which you’ll need to accept by 31 October in order to continue trading with us.To accept the changes now, login to either My IG or the IG Trading app. Or read on for a rundown of what’s changing, and why.

Please be aware that as of 31 October, you won’t be able to place any new trades unless you’ve accepted the new agreements and privacy notice.

What’s changing?
We’re making changes to all our customer agreements – the documents that govern our relationship with you, and all of the contracts and transactions you enter into with us. We’re doing this in order to:

• Make the agreements clearer and easier to understand
• Provide for new systems, services and technology we have introduced
• Reflect changes in applicable regulations
• Reflect changes in how we do business

These changes apply to all our agreements, covering our full product offering and all of the account types you hold with IG. You’ll need to accept the new agreement for each account type that you hold with us. Beyond that, there are a few specific changes that you should be aware of:

• We’ve updated our dealing procedures and reporting provisions
• We’ve clarified the circumstances in which you may be in default of our customer agreements
• We’ve changed the provisions on what we are allowed to do with the money we hold on your behalf (client money)
• We’ve amended what we are liable for, particularly in relation to third parties
• We’ve updated the commitments you make each time you trade with us, in relation to your actions and how you use our services

Finally, if you trade with IG using a leveraged account, then your expiry positions will now automatically roll over by default – unless you’ve told us otherwise. You can view the new agreements in full on our website. For any new accounts you open, you’ll also need to accept the new agreements.

Privacy notice
We’ve also updated our privacy notice, which governs our management of your personal information, to be more transparent and provide you with more disclosure. You’ll need to accept the new privacy notice along with your agreements.

 

If you’ve requested not to receive marketing communications from us, then accepting the new privacy notice won’t reverse that – you’ll remain opted out. You can view the updated policy here.