The company stated:
Verification can take up to 24 hours to be processed, so please get started before 8 January 2021. If you don’t verify your identity in time, we won’t be able to transfer your account(s) to IG Europe and we may need to close them.
When the transfer process is complete, the company will transfer existing accounts to IG Europe preserving login details and watchlists.
IG noted:
The transfer may result in a taxable profit or loss for Spread betting accounts. This shouldn’t apply if you’re a resident of the UK or Ireland, but will depend on your personal circumstances
The money in your current accounts will be transferred to your IG Europe account(s)
As part of the transfer process, we’ll need to close your open positions and then re-open them with IG Europe at the original opening levels. This will ensure that your running P&L won’t be affected.
With Brexit now in effect, a lot of brokers have set up European entities to continue servicing their European clients. In this case, IG Europe is based in Germany and is authorised and regulated by BaFin and Bundesbank.
Interactive Brokers expanded with a new entity based in Ireland. ActivTrades UK Plc secured licence for Luxemburg office to keep its office as an European focal point
