montmorencyt2w
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I was interested to note that two different SB companies which which I have accounts contacted me over the last month or so to let me know that they were phasing out limited risk accounts. As it happened, my accounts with them were not limited risk, so not directly applicable.
Today I received an email from IG Index with whom I do have a limited risk account (although not used for some time), inviting me to "upgrade" it to a plus account, which is not a limited risk account.
Now I had always intended one day to go back to using the IG account, but only on condition that they would convert it to a non-limited risk account .... I never seemed to get around to it though. So they are actually offering me what I wanted all along. No problem there.
I am just wondering though, why companies are going away from limited risk, if that is what is happening.
My first thought is that IG are actually one of the more reputable and conservative of the SB companies, and offered only limited risk accounts to beginners because that was the least dangerous option for them. However, since their competitors generally do not seem to do that (even if really they should), IG are being left behind. So perhaps they are abandoning this practice, even though it was actually in the best interests of beginner customers, because of the competition. And now beginners will have even more rope with which to hang themselves.
Today I received an email from IG Index with whom I do have a limited risk account (although not used for some time), inviting me to "upgrade" it to a plus account, which is not a limited risk account.
Now I had always intended one day to go back to using the IG account, but only on condition that they would convert it to a non-limited risk account .... I never seemed to get around to it though. So they are actually offering me what I wanted all along. No problem there.
I am just wondering though, why companies are going away from limited risk, if that is what is happening.
My first thought is that IG are actually one of the more reputable and conservative of the SB companies, and offered only limited risk accounts to beginners because that was the least dangerous option for them. However, since their competitors generally do not seem to do that (even if really they should), IG are being left behind. So perhaps they are abandoning this practice, even though it was actually in the best interests of beginner customers, because of the competition. And now beginners will have even more rope with which to hang themselves.
