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IG

IG

1.2 from 130 reviews · View Statistics
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Reviews

  • Transparency
    2.5 (2)
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Cat
CatPerth, WA
  • 8 reviews
  • 7 likes

Mixed features

published

IG actually have a great platform. Their web-based platform is very good and easy to use. I much prefer it over Trading View charts and the DailyFX webinars are outstanding
I haven't really had any issues with money other than finding out fees the hard way when they are deducted from your account and I think the spreads are quite high for a market maker.
However, they have offer no chat service. Phone customer service is very limited - if you can get through.
I would really like to access data via an API but getting information on this topic is pretty difficult.
In another provider, I actually had my own account manager, no such luck with IG.
I would say on balance this brand is not for new retail traders.

Transparency
2/5
Incentivised Review No
Koi
KoiSouth East Queensland, QLD
  • 2 reviews
  • 2 likes

Daily interest too huge to hold positions

published

I know it is how they make money, but when you buy a minimum size of Brent oil, it cost's $20/day to hold the position because they take $20 away from you as a daily interest!
Even holdig AUDJPY long position steals a bit of interest, too.
I was hoping to trade long term but mentally impossible to hold a position.

Just for a record, Brent oil long position used to give me a positive interest before this Corona-shock, but it was something like $5/day.

Now they calculate interest rate using AUD LIBOR, which you cannot find on website now a days.
That makes it very unclear how they come up with those numbers.

Transparency
3/5
Incentivised Review No
Canberraj
CanberrajMawson 2607, ACT
  • 9 reviews
  • 18 likes

Good platform service and price.

published
Incentivised Review No

Questions & Answers

humberto h.
humberto h.asked

show me a good broker in Australia,Thanks,

No answers
Ben S.
Ben S.asked

What platforms are people using to open share accounts? I'm planning on buying and holding so want no hidden / subscription / dormant fees.

Coming from the UK I used hargreaves and landsown - it's great.

In Australia all the fee's (brokerage) seem very high, lots of hidden fees.

I want access to all overseas markets (mainly US and UK).

Any advice?

No answers
arthur
arthurasked

who pays the broker his fees for handling my account if i join

5 answers
Adrian
Adrian

HI Arthur,

I'm not sure I really understand your question, as the answer seems obvious, so are you being sarcastic?
I actually don't regard IG as a stock broker in the traditional sense. They are for people who ACTIVELY TRADE.
Now I don't trade share CFDs, so cannot comment on that aspect of their business, but as people have pointed out here they seem to charge $50 if you don't trade at least 3 times. Hardly a big deal in my opinion.

If you trade Forex and other non-share CFDs then there are no fees to my understanding. No commissions (on their regular account anyway). Only spreads. So the more you trade, the more times you pay the spread, and the more times IG generates revenue for themselves.

So if you are an investor into shares, I would probably suggest you look to join a regular broker. In the end its all about TOTAL costs.

Hope this helps.

Jon Z
Jon Z

YOU Arthur, or more exactly the owner of the account.

arthur
arthur

no i wasnt being sarcastic it was a genuine inquiry as i have never been involved in this type of thing before thanks anyway regards arthur

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