- IG discontinues PayPal for UK clients, following FCA discussions and concerns over E-Wallets and client best interests.
IG has announced that it will no longer support PayPal as a payment option for its UK clients, according to updates on the IG Community forum. This change follows discussions with the Financial Conduct Authority (FCA) and aims to address consumer duty concerns.
An IG spokesperson confirmed that this decision was influenced by the FCA’s feedback on the use of E-Wallets, which raised issues regarding their alignment with clients’ best interests. Additionally, PayPal’s high transaction costs and chargeback risks played a role in the decision.
Despite the removal of PayPal, IG assured clients that alternative methods for funding and withdrawing from their accounts are available.
