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Will IG Index close my account if I start winning too much?

Winning too Much?
Written by David

My concern comes from a fellow I met in the owners’ bar at Plumpton racecourse, who happens to be a member of Group 1 Racing Club like me. He told me that he is a professional gambler and used to trade the FTSE, but he’d had his spread-betting accounts closed because he won too much and nobody would take his bets anymore. At first I took his remarks with a pinch of salt as I didn’t believe him, however he mentioned that he hoped one of our trainers’ horses would win today as it owed him £15k. After the horse had won he showed me his Betfair account on his phone and sure enough his £17k bet was there in full colour. He said he now only uses Betfair because the more he wins the better they like it, as that’s how they get their commission.

IG Index will continue to accept your bets no matter how much you win… as long as they are able to hedge them! The problems always seem to occur with scalpers (and, incidentally, are normally reported by people who I expect would lose without any assistance from conspiratorial spread-bet providers).

I wouldn’t worry too much about them refusing your business assuming you don’t try to scalp them…

About the author


I first cut my teeth in the Square Mile in the winter of 2002. I was young, fresh-faced and straight out of university; keen but maybe a little naïve about the way the investment world really worked… A few years ago I discover a whole new world of opportunity: spread betting on the financial markets.

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