What have you tried in order to address this problem?
Sorry for the delay. I took a lunch break. I am composing an answer for you now and you will have it shortly.
Thanks for your patience.
The issue here is that you chose to deal with an unregulated Forex broker which is located somewhere outside of your country.
Your Financial Conduct Authority warns investors that when you deal with an unregulated brokerage, you lose the protection of the FCA. This gets compounded by the fact that the brokerage is outside of the reach of your law enforcement authorities and of your courts and legal system.
Most types of investing are heavily government regulated. Forex and binary investing is, for the most part not subject to regulations. This is because financial regulatory authorities see these activities as closer to gambling than to regular investing.
Responsible brokerages register with financial regulatory agencies anyway, as a sign of their legitimacy. But unfortunately, most are not responsible and operate the way they want without any checks on their activities. Almost all unregulated forex and binary brokerages are scams.
You were attracted no doubt by this company's tempting potential investment returns, but you have sent your money off to a scammer.
When brokers are completely unregulated and are operating outside of legal channels, anything goes. Your contract with them and their promises are meaningless because they can and do make their own rules.
Does that mean you are without remedy? No. There's always a remedy.
You can sue IEG for fraud and the breach of their agreement with you or you can try to pursue them criminally. But the problem is that you have to find them to be able to exercise those remedies.
Assuming they actually in Dubai (their website's IP address traces to the US and they are using a US private proxy service to hide the company's registration information) it would probably not be economically feasible to try to sue them in the UK, since even if you won a judgment, you may need to take it into court in Dubai to get it enforced. You'd may be better off hiring a lawyer in Dubai and bringing suit there, but you could consult locally with a solicitor to see what he believes he could accomplish for you.
These unregulated brokers set themselves up generally so that they can't be found. If it turns out that their headquarters is virtual rather than actual, finding them, is probably going to be a job for law enforcement. In that case, report the fraud to Actionfraud.police.uk and to your local police too.
I see no evidence that they have been registered anywhere since 2005. According to its WHOIS their website wasn't even created until 2015 and is presently slated to expire in August.
I can say that they certainly have no authority to operate in the UK. You can look the up on the FCA register and find that they are not there.
If they are indeed subject to government regulations, however, you could turn to the agency that has regulated them for help. This should be the DUbai Fnancial Services Authority, but unfortuntely, their register isn't searchable.
You can contact them and make a complaint about them. If they are indeed in Dubai and registered there, this agency can be of assistance to you.
If they are not, then that would be one more proof of scam.
You're welcome, and good luck!