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IG share trading review
Access some of the lowest broker fees on the market when you trade global and Australian shares, with commissions starting at $0.
Finder's rating: 4.2/5
★★★★★
IG is a global online share trading provider, offering traders access to Australian and international shares. They’re known for charging some of the lowest brokerage fees on the market, starting with zero commissions for global stocks and $5 for ASX shares.
AUD $8 or 0.1%
Standard brokerage fee
ASX, NASDAQ, NYSE, London Stock Exchange, DAX, ISEQ
Available markets
Phone, Email, After hours
Support
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Details
| Type of broker |
Online only |
|---|---|
| ASX products |
Shares |
| Available markets |
ASX NASDAQ NYSE London Stock Exchange DAX ISEQ |
| Standard brokerage |
AUD $8 or 0.1% |
| Support |
Phone After hours |
Good for
- $0 brokerage on global stocks
- Low brokerage on Australian stocks
- One platform for global and ASX stocks, forex, CFDs, cryptocurrencies
- Extended hours trading on US stocks
Not so good for
- Currency conversion fee higher than some others
- Quarterly inactivity fee
- Limited global markets
Company background
IG is a global, trading industry giant. Founded in 1974, IG has more than 40 years experience offering competitive trading options to international clients. With more than 239,000 clients worldwide and net global trading revenue of £388.4 million, IG is the world's (and Australia's) largest provider of CFDs.
While fully embedded in the international forex and CFD industry, the IG share trading account is a relatively new addition to the company's account suite. By entering the share trading space, IG is positioned to allow current CFD trading clients to access Australian and international shares without having to open an account with another broker, while offering a premium product to attract new business.
What are the key features of the IG trading platform?
If you're thinking of opening an IG share trading account, then these key features will most likely be what sways your final decision. Take the time to research and compare them with other brokers and you'll immediately notice that IG stacks up favourably against their key Australian share trading competitors.
| Fees |
★★★★★ 3.4/5 |
Brokerage fees are among the lowest however there is an account fee to consider. |
| Trading tools |
★★★★★ 4.5/5 |
It offers charting tools, conditional orders and margin trading options. |
| Research and education |
★★★★★ 3/5 |
IG features a live demo and news updates. It does not offer stock rating tools. |
| Available securities |
★★★★★ 4/5 |
It offers stocks, ETFs, forex and CFDs. |
| Customer support |
★★★★★ 5/5 |
IG is rated highly thanks to 24/7 live chat support, phone and email support services. |
News and analysis
IG customers can access news, advice, webinars and recommendations from IG's team of in-house experts. The IG website houses an excellent market analysis section, boasting articles and videos from some excellent analysts. This includes trading opportunities, as well as information on stocks to watch.
Free courses
IG Academy offers free online courses, webinars and seminars to help you to develop trading skills in stocks, forex and CFDs.
Cheap brokerage
Brokerage costs with IG are some of the lowest in the industry. Starting at just $5.00 per trade on Australian shares and $0 commissions per trade on global shares.
Choice of trading platforms
You can place share trades with IG through the provider's web-based trading platform, over the phone or through the IG app. Share trading apps are proving to be a hugely popular medium and the IG trading app is available to suit both Apple and Android smartphones and tablets.
Available markets
IG Share Trading provides access to more than 11,000 Australian shares, as well as thousands more from markets around the world. For a list of the international stock exchanges you can buy shares on via your IG share trading account, check out the list below.
What markets can I trade with an IG share trading account?
An IG share trading account provides investors access to more than 13,000 shares, across both Australian and international markets. The stock exchanges you can access through your IG Share Trading account include:
- Australia: ASX 200, ASX 300 and a wide range of other small cap Australian stocks.
- US: S&P 500, DOW 30, NASDAQ 100 and a wide range of other small cap US stocks.
- UK: FTSE 100, FTSE 250 and a wide range of other small cap UK stocks.
- Germany: DAX, HDAX, MDAX.
- Ireland: ISEQ.
If you're not looking to invest in shares and are instead interested in taking more of a short term approach, then perhaps trading CFDs might be more suitable for you. If this sounds like the case, take a look at our review of the IG forex and CFD trading account.
What account types can I open with IG?
The following table has been sourced from the IG website and clearly places the different account types side by side. Take a look and use it to help decide which is best suited to you and what you're trying to achieve from trading.
What customer support is available?
IG offers a 24-hour customer support service. The first step to take when you need assistance is to visit IG's extensive online help portal.
If you can't find the answer you're looking for among the frequently asked questions, you can email your question to IG, free call the experienced customer help team directly or jump on live chat.
IG Academy also contains a big range of educational resources and IG community allows users to access forums, get trading tips and interact with other members.
What are the fees?
As well as brokerage, an IG share trading account has a number of fees and charges that you need to be aware of.
Brokerage fees
You have a few options when it comes to broker (aka commission) fees which will come down to how often and how much you trade each month.
The brokerage fee for Australian shares starts at $5 a trade, however this is only if you've made three or more trades in the previous month. If you've only made 1-2 trades, your broker fee will be the standard $8 per trade or 0.1% (whichever is higher).
For international markets the commission fee is $0, however you're charged a foreign exchange fee of 0.70% per trade if you choose this route. The other option here is to convert currencies outside of IG – this means you avoid the high FX fee, but must pay $10 per trade in commissions.
The following table breaks down the brokerage fees across Australian and its international share markets for phone or online trades.
| Location | Commission per trade |
|---|---|
| Australia | AUD$5 per trade (if you make 3+ trades in the previous month), or $8/0.1% (whichever is higher) |
| US | $0 |
| UK | $0 |
| Germany | $0 |
| Ireland | $0 |
| Location | Minimum charge |
|---|---|
| Australia | AUD$50 / 0.1% |
| US | US$50 / 2 cents per share |
| UK | £40 / 0.1% |
| Germany | €50 / 0.1% |
| Ireland | €50 / 0.1% |
Quarterly inactivity fee
There is also an ongoing subscription fee charged to IG account holders of $50 per quarter (every three months). This fee applies to IG share trading accounts only, and not for CFD accounts. This subscription fee will be waived if you meet either of the below two conditions:
- You trade at least three times across either of your share trading or CFD accounts during the quarter, or
- You hold no open positions in your share trading account at the end of the quarter (if you hold onto your shares, this is classed as having an open position).
This subscription fee will be deducted from your cash account each quarter. If you do not have enough funds available in your cash account, your balance may go into negative.
Additional monthly fees may also apply if you wish to access live prices for Australian and international stock exchanges, but there is the potential to have these fees refunded if you place more than a specified number of trades each month. Contact IG directly for detailed information on these fees and charges.
Access to live share market data
To view live prices on Australian and international share markets, you will need to activate the relevant data feed through your IG share trading account. This will incur an ongoing fee in some circumstances.
Minimum balance?
While not exactly a fee, it's worth noting that there's no minimum balance requirement on your IG share trading account. You aren't required to deposit any money upfront in order to open the account, and there aren't any ongoing account balance limits you need to maintain to keep it.
What are the account funding options on an IG share trading account?
You can fund your IG share trading account in a number of ways including credit card, debit or BPAY. Each method attracts different fees. If you're in Australia, the minimum deposit via credit or debit card is $450.
There is however, no minimum deposit amount if you're funding your account via bank transfer, BPAY or PayPal. Below is a list of methods for funding your account based on your location.
Note: IG does not accept payments made via commercial and business credit cards, or cash.
| Payment type | IG's cost | Execution time | How to pay |
|---|---|---|---|
| Credit card | Visa: 1% (AUD transactions) Mastercard: 0.5% (AUD transactions) Non-AUD transactions: 1.5% | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Debit card | Visa: Free Mastercard: Free | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| BPAY | Free | Up to two business days | Your BPAY Biller and Customer Reference number is available from the following locations:
|
| PayPal | 1% flat charge | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Payment type | IG's cost | Execution time | How to pay |
|---|---|---|---|
| Credit card | 1.5% | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Debit card | Visa: Free Mastercard: Free | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Electronic funds transfer to NZ based account | Free | Up to three business days | Account name: IG Markets Ltd Client Trust Bank / Branch Code: 03-0252 Account number: 0834546-05 Currency: NZD only |
| PayPal | 1% flat charge | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Payment type | IG's cost | Execution time | How to pay |
|---|---|---|---|
| Credit card | 1.5% | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Debit card | Visa: Free Mastercard: Free | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Local transfer to their HK based account | Free | Up to three business days | Bank Name: The Hongkong and Shanghai Banking Corporation Limited HSBC Main Building, 1 Queens Road Central, Hong Kong Account Name: IG Markets Ltd - Client Trust Account Swift Code: HSBCHKHHHKH Account Number(s): USD Currency - 848391785201 HKD Currency - 848391785001 AUD Currency - 848391785203 |
| International Transfer to their Australian based account | Free | Up to three business days | Bank Name: Westpac Banking Corporation 409 St Kilda Road Melbourne Vic 3004 Australia Account Name: IG Markets Client Trust Account Swift Code: WPACAU2SXXX Account Number(s): USD Currency - 034702372672 HKD Currency - 034734320199 AUD Currency - 033079189977 EUR Currency - 034705308262 GBP Currency - 034703392421 |
| PayPal | 1% flat charge | Instant | Login to the trading platform, select 'Payments' and follow the prompts. |
| Payment type | IG's cost | Execution time | How to pay |
|---|---|---|---|
| Credit card | 1.5% | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Debit card | Visa: Free Mastercard: Free | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Local transfer to their HK based account | Free | Up to three business days | Bank Name: The Hongkong and Shanghai Banking Corporation Limited HSBC Main Building, 1 Queens Road Central, Hong Kong Account Name: IG Markets Ltd - Client Trust Account Swift Code: HSBCHKHHHKH Account Number(s): USD Currency - 848391785201 HKD Currency - 848391785001 AUD Currency - 848391785203 |
| International transfer to their Australian based account | Free | Up to three business days | Bank Name: Westpac Banking Corporation 409 St Kilda Road Melbourne Vic 3004 Australia Account Name: IG Markets Client Trust Account Swift Code: WPACAU2SXXX Account Number(s): USD Currency - 034702372672 HKD Currency - 034734320199 AUD Currency - 033079189977 EUR Currency - 034705308262 GBP Currency - 034703392421 |
| PayPal | 1% flat charge | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Payment type | IG's cost | Execution time | How to pay |
|---|---|---|---|
| Credit card | 1.5% | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| Debit card | Visa: Free Mastercard: Free | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
| International transfer to their Australian based account | Free | Up to three business days | Bank Name: Westpac Banking Corporation 409 St Kilda Road Melbourne Vic 3004 Australia Account Name: IG Markets Client Trust Account Swift Code: WPACAU2SXXX Account Number(s): USD Currency - 034702372672 HKD Currency - 034734320199 AUD Currency - 033079189977 EUR Currency - 034705308262 GBP Currency - 034703392421 |
| PayPal | 1% flat charge | Instant | Log in to the trading platform, select 'Payments' and follow the prompts |
Source: IG
What are the pros and cons of using an IG share trading account?
Pros
- Cheap brokerage. IG's competitive commissions start at $5.00 for Australian shares and $0 for global shares.
- An established provider. IG has more than 45 years of experience in helping traders around the world manage their investments.
- Access to international shares. IG Share Trading allows you to access major stock exchanges in Australia and around the world. This means you can access more than 13,000 international shares across a range of major indices.
- 24-hour support. If you ever need help with a trade or your account, IG's team of in-house experts is contactable 24 hours a day.
Cons
- Quarterly inactivity fee. As of 30 November 2018, a $50 quarterly subscription fee will apply to IG share trading accounts. This fee can be waived if you meet one of the two conditions outlined in the fees section above.
- FX fee. The currency conversion fee of 0.70% is charged on every global trade you make.
How do I open an IG share trading account?
If you'd like to sign up for an IG Share Trading account, click one of the "Go to site" links on this page to be securely redirected to the IG share trading website. You can then open an account by filling out an online application.
It takes around 5-10 minutes to apply and you will need to provide:
- Your name
- Your email address and phone number
- Your residential address (you must be an Australian tax resident)
- Your username and password
- A photograph or scanned copy of your Australian driver's licence or passport
Once the IG accounts team has approved your application, you will then be able to fund your account and begin trading shares.
IG share trading account frequently asked questions?
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
