• long running

IG Markets - US & International Shares $0 Commission | Australian Shares from $5 or 0.05% ($50/Qtr Fee - Exempt with 3 Trades)

663

IG Markets new lower rates
$0 commission on international shares, no qualifying trades necessary
$5 minimum commission on Australian shares, if you've placed three or more trades in the previous month
$8 minimum commission on Australian shares, if you've placed fewer than three trades in the previous month
No quarterly subscription fee, if you trade three or more times per quarter

You can now trade US and international shares for $0 commission, and Aussie shares from just $5 or 0.05%
Place three trades in the previous month to qualify. You'll pay $5 or 0.05% on whichever is higher.

Investing has its risks. Please do your own due diligence

Mod: Referral links are not allowed.


Edit:

A quarterly $50 subscription fee may be charged from your share trading account depending on your trading activity that quarter. To be exempt from the charge, you will need to:

Deal at least three times across either of your share trading or CFD accounts during the quarter,

OR

Hold no open positions in your share trading account at the end of the quarter.

Referral Links

Referral:  Jet_k or random (31)

Referee gets $100 USD trading credit. Referrer gets $100 for 1 friend, $400 for 3 friends, $1000 for 5 friends who sign up and places 5+ trades.

Related Stores

IG Group
IG Group

Comments

  • +25 votes

    local platform like Selfwealth is so much cheaper and more reliable (CHESS account).

  • +39 votes

    Please note IG charges a $50 quarterly account fee if you have open share positions at the end of the quarter and you don't make three trades in that quarter.
    https://www.ig.com/au/share-trading/charges

    • +6 votes

      Yes, unless you trade somewhat infrequent, the $50 fee is a killer. It used to be $0 account fees when i signed up 5 years ago.

      Plus it is not a CHESS account are the two reasons why I stopped using IG.

      •  

        whats the benefit of a chess account?

        • +3 votes

          Owned under your name. These are custodian accounts. IG own it on your behalf. You are just a creditor. So if they go under (administration / bankruptcy) you line up with the rest of the creditors. You might only get 20c of $1 you put into any shares.

          •  

            @netjock: didn't they decide to stop holding weed shares or something? so if you held them they just sold them for you.

            edit: yeah there's a comment down below about it.

        • +1 vote

          If you’re in CHESS at least ETFs can send you a tax statement. They’re also directly held in your name so less risk if the trustee goes fraudulent. CHESS is a no brainer for ASX holders for me.

  •  

    How's the exchange rate.

  • +8 votes

    It seems like the catch with $0 commissions is they profit off the exchange rate.

    You can get instant free funding with a debit card at IG which is much better then Stake.

  • +1 vote

    I've been told you don't actually own the shares if you purchase them on IG…

    • +1 vote

      For Aussie shares you'd have greater security by using SelfWealth or similar as the shares are CHESS sponsored and you own them directly.

      For international shares it matters less as AFAIK they are mainly, if not completely, custodially-held ie. On your behalf.

  • +22 votes

    Not a deal at all as it seems blatantly obvious to me, that they are offsetting the usual share trading brokerage fee (which they call "commission") by profiting from the exchange rate conversion. If this was not the case, there would no penalty for those wanting to convert their funds manually. IG have made the following note in relation to when the $0 commission applies:

    "*Note for multi-currency accounts: These figures apply to clients who opt for the default setting of 'instant currency conversion'. Clients who choose to convert currencies manually will pay commission of 2 cents per share with a minimum charge of $10 on US stocks and, for European markets, we charge £10 / €10 per trade or 0.1%, whichever is higher."

  •  

    Doesn’t these mob only have CFD and not actual share ?

  •  

    0.05 is massive when your trading decent numbers.
    It’s a no from me. I’ll stick with ComSec

    Edit*
    Disregard… I missed the %. 0.05% . Not so bad as I thought.

  •  

    ComSec or Selfwealth?

    • +7 votes

      Selfwealth Cheaper but CommSec better for their data, analysis and interface.

    • +6 votes

      CommSec allows you to have open Buy orders without having cash in the account - you just have to transfer the $$$ by the 2-business day settlement date. Very useful if you are like me with 20 open orders at 10%-20% below market value in the hope that one or two of them might go through one day.

  •  

    What's your opinion on Stake app for mid-long term investing?

    •  

      No. They are trying to be cool and appeal to young people (myself included) but I just get the feeling they are unprofessional, oversimplified, buggy, limited, spread-thieving amateurs - That said they seem to be properly certified and insured so it could work.

    • +1 vote

      Stake is fine, they were the first in Australia to offer brokerage free trading (with exchange fee), which makes them the main reason other brokerage companies are bringing down fees, all it takes is one to start so that the established companies will copy (like Robinhood in the US), which is what we are seeing.

      Their interface is very simple without a lot of features which isn't a bad thing as it is easier to drive, well suited if you are new to trading or are a casual trader doing mid to long term trading that don't need all the graphs and features you get with IG. I have noticed the odd bug but nothing that bad.

      less investment options though compared to IG and funds take a while to clear and can only really be done via Poli in order to reduce costs as opposed to debit cards with IG. Minimum deposits for IG is $450, Stake doesn't have a minimum requirement, but has a minimum fee of $2USD so you want to contribute at least $300AUD to get the minimum exchange fee.

      If you aren't going to be doing 3 or more trades per quarter I would definitely recommend Stake over IG. Otherwise the IG deal sounds pretty good too.

      •  

        "less investment options" yes I have a Stake account and noticed that there are a few stocks i've tried to search but unavailable. I haven't tried IG, is there a way to search which stocks can be traded on IG without opening an account?

        Also had a look for who's the custodian for both… looks like IG uses Citi but can't find who Stake use… would it be Drivewealth? This might be a factor if you are worried about potential collapse/administration of custodians for your shares.

        •  

          I dont think it is possible to get a list of investment options, however i signed up for IG and it took like 3 mins and they didn't require much info, no card details or TFN or anything, just DOB and Address, they ask for Passport number but you can defer for later. I would just create an account and search the options, i found it to be very comprehensive.

          IG have over 10,000 investment options compared to like 3,500 (I think) for stake. if you trade AU and Int shares its good as you only need one brokerage account and i am considering consolidating into IG (I currently use Stake for Int and Selfwelf for AU shares).

          Im not sure about the custodian, i would just send an email to stake, i remember reading somewhere that it was all insured and what not, im not too worried about that.

  •  

    Does anyone know if Selfwealth has Direct Market Access? And if I want to short sell some stocks, can I do it via Selfwealth? TIA.

  • +2 votes

    Just be aware that there's a $50 subscription fee for less then 3 trades a quarter

  • +3 votes

    Should try interactive brokers instead if you want to gain exposure to the U.S. markets; they offer 1$commission/trade, no markup on forex and low account fees(3/month for under 25, 10/month for adults with >10,000usd,20/month for adults with <10,000usd). It is almost the best deal for under 25's and I am using them myself

    •  

      How were you able to setup an account with them without USD bank account?

      •  

        You don't need a USD bank account? You setup an account with their Australian branch of interactive brokers….

      •  

        You can set up with the Australian branch like the guy below me said, I signed up, and don't have a USD bank account, I transfer money into the account using BPAY from my comm/nab account. You can buy usd using your aud from their platform itself, and they sell it at spot rate, no mark ups, maybe 50c commission sometimes for one trade, but thats it.

  • +2 votes

    One good thing about IG is that you get 5,000 Qantas FF points for every 10 trades you do in a month. I'm not sure if this has been changed after today's announcement.

  • +1 vote

    @OP - might be worth reminding people that they can use IG for bonus Qantas points.

    https://www.ig.com/au/Qantas

    •  

      damn…. cut off for the 10k bonus points was 31 May 2020… wonder if another deal will pop up soon?

  • +9 votes

    I wouldn't make an account with them after they said you can't buy cannabis stocks through them:
    https://stockhead.com.au/news/ig-markets-stops-all-trading-i...

    People were told to sell stocks or IG would sell them for them.

    https://i.redd.it/nqmcy9gz78u21.png
    https://www.reddit.com/r/AusFinance/comments/bgvmsk/notice_f...

    • +10 votes

      I had forgotten about this. Absolutely a valid reason for a negative vote. Forcing Australian investors to sell ASX-listed shares based on their interpretation of a UK law is shocking. Opens the investors up to problems like early capital gains tax liabilities, execution risk when they sell and have to re-buy, etc. They can do it because when you trade with IG you don't actually own the shares directly - they hold them on your behalf (i.e they don't offer CHESS sponsorship). I wouldn't trade with them either.

  •  

    I got some ESS US shares at Computershares. And my employment is finishing soon so i gotta transfer the shares out.
    What better alternative than Commsec as they provide International shares to be transfer in?
    I am thinking of lower Trade fees that i will be transferring in to Transferwise US account.

    Any other thought?

  •  

    I would be extremely careful with international shares due to the fluctuation of the USD/AUD.

    With IG shares, default is to exchange on the spot when you do your trade. There is option for manual conversation but for example if you bought USD shares when the exchange was 0.64 and now the exchange is 0.68 you're losing that 0.04 if you needed to exchange at that point in time. If your profit was only 2%, it, the profit, would basically get wiped out.

    • +1 vote

      With IG shares, default is to exchange on the spot when you do your trade

      Yes, +.7%
      Bit of a rip off.

    •  

      yea but you can actually day trade with 0 brokerage. fx moves so little in 1 day compared to stocks.

      •  

        No one would day trade with a .7% currency fee.
        they would go to IBKR or maybe even Schwabb.

  •  

    They normally get you with the spread but still there is a lot of low spread products to trade .
    If if that exchange rate I would stick to AUD products full stop and key is not to over trade because of the spread .

    •  

      is the brokerage replaced by spread?

      • +1 vote

        You have the spread , Fx and interest rates if holding positions longer .
        No brokerage but suggest you look at Galifr3y statement .
        Spread and Fx ( a lot more than the spread) will destroy you .
        But it ok some people need to be feed :)

        •  

          Agree with you there, speaking from experience. Their spread makes it a bit harder to time the exit with sufficient profit. And if you hang on, you'd keep on paying interest. Either way, IG profits from the users without commission. But hey, like casinos, the dealers have to profit otherwise there's no point being in business.

  • +1 vote

    That $50 quarterly fee is a big trap if you are new to trading or an infrequent trader.

  • -3 votes

    american shares for $0? you can flip as often as you like, very little currency risk given how little fx moves relative to equity.

  •  

    Anyone one got some share tips?

    •  

      Small caps and penny stocks have been rising in their prices compared to the rest of the Australian market. Maybe go have a look at a few yourself.

  •  

    Could anyone compare IG with CMC, both of whom are major players in trading

  •  

    What's the IG referral credit used for then (I read $100 USD of trading credit for referral)? Usually, that to cover the commission on buying/trading, right? Which in this case is 0?

  •  

    Strangely enough, a family member and I were buying US shares at the same time on a different platform each (I was on Interactive Brokers, and they were on IG), but the IG buy prices were coming up as slightly higher for some reason…

    •  

      Are you on IB Pro or Lite?

      •  

        Neither? It doesn't come up for me anywhere and I wasn't given a choice when setting up. Probably lite though?

        •  

          Yeah the choice is relatively new. Pro works just like the old account, Lite is commission free for US stocks/ETFs but you don't get to use Trader Workstation.

      •  

        Can't get LITE in Australia yet, ( just tried to convert over myself and they don't offer it "YET")

  • +3 votes

    SAXO is my go to for international. Selfwealth for local .
    ps. I only invest medium-long term, so day traders may disagree.

  •  

    I'm temped with google : 2500 bonus cfd

    First research though it looks like large spreads so only real counter is longer plays .
    I still haven't researched the company though .

  •  

    Nice platform… I trade daily so it is a good news to me.

  •  

    I have created a live account with them but now after reading the comments around the 50$ fee i want to close it. Does anybody know how to do that?

  •  

    Can you buy fractional shares on IG?

  •  

    another broker is trastytrade are now in australia,
    https://twitter.com/tastyworksAUS/status/1128755963421437954...

    $0 fees on trading, offer margin ( short-selling)
    low fees on options entry only + 0$ closing

    Same as stake with US markets only. Finger cross they allow for Australian markets

  • Top