Investment platform IG has launched a cashback offer that's caught many savers' attention: up to 5% cashback on your investments. But before you rush to sign up, it's worth understanding what you're actually getting — and whether it's the right move for your money.
**What's the deal?**
IG is offering cashback as an incentive to new customers who open an account and invest. The headline figure of 5% sounds generous, but cashback offers like this typically come with conditions — minimum investment amounts, time limits, or restrictions on which funds or products qualify. Tax year end (5 April) is always a busy time for financial promotions, so you'll see similar deals popping up across investment platforms.
**Should you sign up?**
Before chasing cashback, ask yourself three questions:
1. **Do you actually want to invest?** Don't open an account just for the cash incentive. Investing carries risk, and your money can go down as well as up. Only invest money you can afford to lose and won't need for at least five years.
2. **What are the terms?** Read the small print carefully. How much must you invest to qualify? Is there a time limit? Which investments are eligible? Some offers only apply to certain funds or trading accounts.
3. **Does the platform suit your needs?** Compare IG's fees, investment range, and customer service against other platforms. A £200 cashback bonus becomes poor value if you pay higher charges elsewhere.
**Consider the alternatives**
Tax-advantaged accounts like Stocks & Shares ISAs mean your investment growth isn't taxed — potentially worth far more than cashback over time. If you're new to investing, check whether you'd be better served by a platform with lower fees or simpler products.
**What to do next**
If you're seriously interested, read IG's full terms and conditions on their website. Compare at least two other platforms and consider speaking to a financial adviser if you're unsure. The best deal is always the one that matches your goals and circumstances — not just the biggest cashback offer.
Source: You can get £200 cashback on your investments from IG: Should you sign up?
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