Who is IG
IG is a market maker for Contract For Differences on shares, Forex and world stock market indexes.
Trading with IG
IG Markets has dealt the trades executed by their clients in two manners: Manual and Automatic dealing. In both manners, IG breaches the MAS administered laws. Further details and evidences will be provided below.
My cause
Over the past few years of trading with IG Asia, I have noticed several practices which are not in line with regulations put in place by regulatory boards (for eg, Monetary Authority of Singapore) and laws (for eg. Torts and contract law). These practices put traders at a disadvantage, and should not be tolerated. However, unless with great scrutiny, it is difficult to notice these anomalies. I have diligently put together many evidences after much analysis and evaluation and can confidently bring these practices to light.
Therefore, I am writing this article to inform traders and to garner support for my cause in advocating for fair trade within the CFD (Contract for Differences) trading industry.
Claims against IG (and evidences)
1) All automatic trades executed by clients are dealt in London, UK and not in Singapore as seen from the screenshot below.

This screenshot was taken from IG Singapore's trading portal. According to the MAS administered law, only CMS License holders are allowed to deal in securities. However, IG UK is not licenced and hence, is not authorized to deal with the trades of clients of IG Singapore. Based on this alone, IG has breached its contract.

MAS have confirmed in the email above that IG UK does not hold a CMS licence.
2) Similar to automatic trades, manual trades are also executed outside Singapore. They are executed by IG Australia. Therefore, these trades breach the contract as well.

IG has acknowledged that manual trades are handled internationally.
What you can do to help
I have started a petition on https://secure.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?pv=8 to garner support and gather victims of these unfair trade practices. These supports will greatly aid us as they provide us with the grounds to raise the issue with the relevant authorities to stop these unfair practices from spreading. IG also must pay a price for their unlawful and unethical trading practices. It will be greatly appreciated if you could sign the petition to support this cause. Together, as traders, we can make this industry a fairer playing field.
Over the past years, I have gathered much evidences and information. This space http://igmarketsreviews.wordpress.com/ will be regularly updated with my findings and evidences. In the meantime, please do show your support by visiting and signing the petition.

Hi all,

I have recently started a petition against the unfair practices and trading systems of IG Markets Ltd on

http://www.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?nLPupib

Please copy the link above and paste it at Google search engine and/or at the web address bar.

Through this, I hope to gather like minded people and victims and seek compensation. At the same time, I hope that this petition drives IG towards a more transparent and fair trading system.

A) All customers of IG Markets can be deemed to be victims of their unfair trade system and practices. Customers of IG Singapore will expect that trades are executed by IG Singapore. However, this is not the case as trades are executed by IG UK or IG Australia.
The execution of trade is a form of regulated activity. Only entities which hold a Capital Markets Services (CMS) licence such as IG Singapore are allowed to carry out the regulated activities prescribed under the Securities and Futures Act (SFA) according to the Monetary Authority of Singapore. IG UK or IG Australia, a sister entity of IG Singapore, does not hold a CMS licence and hence is not allowed to deal (such as accept and execute trades) with the customers of IG Singapore. Based on this, IG has breached their contract with the MAS. Hence, all customers of IG are affected.

B) IG Australia had delayed or withheld executing of trades to see whether IG would profit or lose from executing trades (IG Australia had rejected after delaying the trades although trades were executed at IG’s quoted price). This has resulted in a loss of profits as trades that were legit were subsequently rejected.

Thus, it is important for clients of IG Markets Ltd to stand together against these practices to fight for our rights as traders and to fight for a fair trading platform for everyone’s benefit. Clients of Stop Orders, Limit Order and Stop and Limit Related Orders may relate to this cause more as these orders are often routed for manual execution, which is often carried out in IG Australia (please be referred to point A above). These trades are then executed by IG Australia which is not a CMS licensee. Hence, IG had illegally executed the trades according to the evidences.

Over the past 2 years, I have been conducting research and analysis on IG Markets and managed to gather a relatively substantial list of evidences against IG’s unfair practices.
My Evidences include:
- Unreliability of IG’s trading platform,
- How IG manipulates my trades,
- Unfair, invalid and non-transparent reasons for the rejection of my trades after delay in execution
- Unauthorized execution of my trades (my trades were routed to IG Australia for manual execution when my trades must only be executed by IG Singapore)

Should you wish to contribute to my cause and to build a stronger case against IG Markets, do contact me at limayden@gmail.com. Also, do sign the petition at the link above to support the cause. Thank you and I look forward to your support.