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IG

IG

1.2 from 129 reviews · View Statistics
See the Best Forex & Share Trading Platforms in 2021 as rated by Australians on ProductReview.com.au.
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Reviews

  • Transparency
    2.4 (8)
  • Rates and Fees
    1.0 (2)
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Reviewer Photos & Videos

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Brendan F.
Brendan F.
  • 7 reviews
  • 1 like

You have to email them personal details to close an account? -

published

Glad I didn't put any money into here having read how hard it seems to be to get it back out.
I just wanted to buy and hold some local stocks, if you do that they charge $8 plus a commission fee plus $50 per quarter just to sit on the stocks! Never heard of a fee like this? $200 a year to "keep owning a stock" , sounds like they aren't actually buying you the stock here. I will stick with the major banks and not little trading companies setup with apps.

Transparency
3/5
Rates and Fees
1/5
Incentivised Review No
Damian
DamianBelconnen 2617, ACT
  • 12 reviews
  • 3 likes

Hidden subscription fee, no CHESS sponsorship

published

Cons:
- 200$ subscription fee per year if you don't trade frequently
- No CHESS sponsorship so you don't actually own the shares and....
- ...sale of shares requires 2 to 3 days settlement waiting period

Pros:
- None for me because I'm a buy and hold investor, trade infrequently, and don't trade CFDs.

There are just too many better options like Open Trader and Self Wealth that appeal to investors like me.. These brokers have CHESS sponsorship and 5 to 10$ per trade with no subscription fees at all.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Minghao L.
Minghao L.South East Queensland, QLD
  • 3 reviews
  • 4 likes

Withdrawal very troublesome

published

Great difficulty obtaining withdrawal from IG. Asking for bank transactions despite requesting a refund back to the same account where the money originally comes from. After I sent the bank statement, they asked me the same questions again and requested the information I already sent to them. Not to mention that the process is slow as well. Over two weeks since the initial request was put in, still not happening.

Incentivised Review No

Do not trade with this company!!

published

Company stops people purchasing shares when prices are going up but when your down they are happy to sell to you.

Avoid at all costs unless you want to be in a position where you can only sell shares when they are going up and not buy them

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Transparency
2/5
Incentivised Review No
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S. Moore
S. MooreSydney, NSW

IG joining the global trend of palming off customers to the "Help Page".

published
Transparency
3/5
Incentivised Review No
Div
Div
  • 3 reviews

Works pretty well

published

Works pretty well along with having $0 US trades and $5 Australian trades. The app is not the most flashy, but is mostly reliable and nails all the basics. Support takes a few days to get back to you via email, however, there is a phone number that you can call for more urgent requests.

Transparency
4/5
Incentivised Review No
Gregory M.
Gregory M.Hunter Region, NSW
  • 2 reviews
  • 12 likes
  • Verified

Fake trade manager uses IG to scam, TracRefund saved me

published

Firstly, When I am in the trading platform looking at charts, the whole thing regularly seizes up so that I cannot swap between stocks or add drawings to the charts. The curser still works. Then someone contacted me on instagram, About using the platform to help me make daily profit, Then when it was time for me to get my returns, I was been asked to deposit more, I did, and they asked again, then i realized i was being played, I found {TracRefund. com] on Plus500 review, I contacted them and they helped me get my initial deposit back.
I have contacted IG about this and they have been of no help. Help came from the case report i made to [report@tracrefund .com]

Incentivised Review No

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Avoid

published

Absolute time wasting, do not go near them. I lost 2.3btc investing and after months of trying i hired Birman law to get my money back, unfortunately that was another waste of time. I had to allow my cousin venture into the darknet and he got me a blackhathacker who helped get my money back. It was nice receiving my bitcoins back, i happily gave his cut to him as agreed. You can write him at [details removed] at hackwithme, tech. He’s extremely efficient.

Incentivised Review No
Adam
AdamSouth Australia

I had my money back from IG palttform down!!!!!!

published
Incentivised Review No
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Aus001
Aus001
  • 10 reviews
  • 6 likes

Does not value customers

published

IG offers a platform for $40 or so per month called PRT. Despite so many requests they have managed to make everyone wait for over a year for software update to new version (after the platform company made new version available over a year ago). Release date is moving every month. Discussion boards are filled with complaints. Extremely unreasonable. Keeps making excuses. Not sure why we pay so much fees and charges. After new software is already available, IG has already made customers wait for more than a year for that new software. Quite disgusted. Closing account soon. Unreliable. Many traders who i know are looking to do the same for this very reason.

Transparency
2/5
Incentivised Review No
Sam C
Sam CMetropolitan Adelaide, SA
  • 4 reviews
  • 4 likes

Ok if you trade regularly

published

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!

Transparency
1/5
Incentivised Review No
Ray M
Ray M
  • 6 reviews
  • 3 likes

Demo Is Good. But People Have No Idea How Hard It Is To Make Money On The Markets. Beware!

published
Incentivised Review No
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kaushik
kaushikSydney
  • 3 reviews
  • 1 like

3 significant negatives to consider!

published

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.

Transparency
3/5
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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