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Attn: Investor Trader of Contract for Differences (CFD) with IG Markets: Stand up for compensation, & a fair and transparent trading system and practices

This petition is awaiting approval by the Avaaz Community
Attn: Investor
Trader of Contract for Differences (CFD) with IG Markets: Stand up for compensation,
& a fair and transparent trading system and practices
  
  

 


Why this is important

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 Monetary Authority of Singapore administered laws.

The Petition

This petition seeks to inform unknowing traders of IG’s practices and to seek the support and aid of fellow victims. Fellow victims should stand together against IG by pooling our knowledge, experience and evidences to seek for compensation and to stand up for fairer trading practices.

At the same time, it is important to educate fellow traders of such practices as these practices will ultimately involve everyone trading in IG.

A) All customers of IG 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, based on data and evidences gathered, 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 Monetary Authority of Singapore. Hence, the 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.

My Evidences include:

- Unreliability of IG’s trading platform,

- How IG manipulates my trades,

- Unfair and non-transparent reasons for the rejection of my trades

- Unauthorized execution of my trades (my trades were routed to IG Australia for manual execution when my trades should only be executed by IG Singapore)

I seek to gain your support for my cause in seeking compensation and in fighting for fair trading practices. For further information and concrete evidences, please do visit website: www.igmarketsreviews.wordpress.com/


Posted September 17, 2014
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