IG Boosts Cash Interest and Scraps Inactivity Fees for UK Investors

IG has joined a growing list of retail brokers enhancing investor incentives by increasing interest on uninvested cash and removing inactivity-related charges for UK clients.

From early this year, new UK customers opening an IG Stocks and Shares ISA, General Investment Account, or SIPP will be eligible to earn 7.5% variable AER on up to £10,000 of uninvested cash, provided they place their first trade. The offer applies to accounts opened from mid-January and runs until March.

Michael Healy, IG’s UK Managing Director, said the changes are designed to offer “more value to investors who want to take their time and invest at their own pace,” underlining IG’s focus on flexibility and competitive returns on idle funds.

To qualify for the monthly interest, clients must either hold an active Smart Portfolio, maintain an open share position, or execute at least one trade during the month. Cash balances above £10,000 will earn interest in line with IG’s standard rate, currently linked to the Bank of England base rate.

In a further move to simplify costs, IG has removed its £24 quarterly custody fee, previously charged to accounts making fewer than three trades per quarter. As a result, UK investors will no longer pay fees for holding investments or trading infrequently.

Under the updated pricing structure, IG now offers commission-free trading on shares and ETFs, with no platform, account maintenance, deposit, or withdrawal fees—aligning the broker with broader industry trends toward lower costs and cash-yield incentives.

IG Group has also expanded its digital asset footprint through acquisitions. The broker recently agreed to buy Australian crypto exchange Independent Reserve for £87 million, strengthening its exposure to spot crypto markets and accelerating its growth strategy in regulated jurisdictions.