IG

I don't trade much so got annoyed when they announced there will be $50 quarterly fee unless you trade 3 times in that quarter.
So only recommend to someone who's planning to trade regularly!

This organisation cannot be trusted. When I signed up they had decent brokerage - then they get your details and change it so that you have to pay excessive inactivity fees if you do not trade. This is classic bait & switch. Avoid.

They advertise $8 trading fee but have hidden fees - up to $200 per year if you do not frequently trade. Withdrawing cash has restrictions and can take several days. Platform is not user-friendly.

Please do not trust finder.com.au or ratecity.com.au, as they are marketing IG as low fee and zero account maintenance fees.
High Account Maintenance fee on quarterly basis $50. For example if you buy 5 shares in 1st quarter and no purchase in other 3 quater you will pay (5*8 +50*3=$190) compare to any other trade platforms. Commsec and other platforms is much better witj lot options and cheap than IG.

If u are signing up feel free to use this referral (obviously you don't have to but it's $100 for free) I actually like them unlike alot of people posting on here. Just watch out for fees if u don't trade at least once a quarter u may have to pay a fee =)
That referral is below, happy trading!
net.ig.com/au/refer-a-friend?referralID=30af32ff35157f6dfc19b75bbaaaf91a

My 18yo son had saved up money in his bank account ready to buy some shares. IG will not approve his account and despite calling IG, they never called back or activate his account. Commsec approved it and he bought AND paid for his shares within 24 hours.

I am a long term investor. So IG is hammering me with fees for not doing enough transactions. I won't dare to recommend this company to any friends because of it.

IG is scam. New users don't use it. Just google it and you will see how they are reaping other's money

For existing user we should take legal action, report to media, report Australian Financial Complaints Authority etc.

you can login IG account using a few different devices without warning or kick out other device. like you can use mobile phone login then use laptop login, then you can login another mobile. etc, it is unable to kick out other devices. there is not security issue.

Ive had no problems. Ive traded, deposit and withdraw fee free. I trade more than once a month, so no account fees. Service on phone good. Tax statements free too.

IG is a criminal broker that will resort to all means to take your money. I have used them for CFD trading. They are always trying to make you fail from interfering with the platform so you can't open and close positions, log you out of the platform, cause spikes, take positions against you, and alter their data feeds to name a few. They have clearly influenced their reviews on Trustpilot which was around 2 and now over 7 this year. Why ASIC allows such a company to operate in Australia in light of their ongoing criminal behaviour I don't know.

Lured me in with cheap brokerage some time later slammed me with $50 "non use fees". Service department is a joke and is either incompetent or just not willing to discuss issues.
Website is poorly designed. You don't even have direct ownership of the shares.

You could overlook a few of these issues for the cheap brokerage. But I wouldn't recommend IG to anyone after my experience and introduction of these fees.

Terrible costumer service.
Always a drama when you need to call them or request anything.
They have blocked my account with any reason and have requested to withdraw my money, based in absolutely nothing. Very disrespectful.

Steer VERY clear of IG, their support over online chat is totally unhelpful and over the phone pretty much inexistent as they place you on hold forever. I have called them 3 times in the past 7 days and could literally not get through to ANYONE after waiting 40 minutes each time. Do yourself a favor, save yourself from the stress and take your money elsewhere. Seriously!

there service is terrible and they just hung up on the customer when it gets to hard for them
they dont answer the phone and when it gets to hard they just leave

Has anyone tried to move their portfolio of shares from IG to another platform? It is the most difficult thing in the world! I am trying to do this and they are making it as difficult as possible. If anyone (probably not from IG) can tell me how I do this, please help!
My reason for leaving - the same sneaky $50 quarterly charge that increased from zero to NOW $50 in the last couple of months.

1) You do not own the shares! - Go to the Share Trading terms and agreements. The shares are held by IG and you nominate them as the trustee to manage the shares and securities on our behalf. Payment is made after their settlement process terms are fulfilled.

2) 50$ per quarter fees unless certain conditions are met.

3) No dividend reinvestment despite it being promised last year.

I am in the process of choosing a better agent, with better terms and cost structure.