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

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IG Markets - US & International Shares $0 Commission | Australian Shares from $5 or 0.05% ($50/Qtr Fee - Exempt with 3 Trades)
Go to Deal
Jet_k on 01/06/2020 - 12:20 ig.com (1958 clicks)
Last edited 01/06/2020 - 14:38 by 1 other user

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: random (30)

Referrer gets $50 for share trading and $250 for CFD after 5 qualifying transactions.

Financial

Related Stores

IG Group
IG Group

Comments

  • jwan142 on 01/06/2020 - 12:25
    +25

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

    • dcep on 01/06/2020 - 12:30
      +4

      no international shares trading (supposedly coming this year but don't know when)

    • ShouldIBuyIt on 01/06/2020 - 12:32

      That looks good, thanks for sharing. What's the cons of this platform, if any? Currently paying $19.95 a trade with Westpac.

      • NoDiggerty on 01/06/2020 - 12:38
        +6

        I haven't found any. $9.95 a trade is fantastic IMO

        • Owgasm on 01/06/2020 - 12:41

          Is NAB $9.95?

          • jwan142 on 01/06/2020 - 12:49
            -1

            @Owgasm: no. a lot more than that.

          • BargainGeezer on 01/06/2020 - 13:19
            +5

            @Owgasm: NAB is $15 for under $5k, $20 for $5k-$20k, and 0.11% for anything over $20k.

        • dpk on 01/06/2020 - 14:17

          $9.50

        • Grandslam on 01/06/2020 - 17:47
          +3

          Self Wealth is only $9.50 per trade, is CHESS sponsored and you don’t get stung $50 if you don’t trade for 3 months.

      • jwan142 on 01/06/2020 - 12:49
        +13

        few issues with price update frequency with their watchlist. Personally, i have been using Commsec (CBA platform) to check price and trade in SWF.

        • dpk on 01/06/2020 - 14:13
          +1

          Watch list displayed from 10:20 am. 20 minutes delay.

        • abm77 on 01/06/2020 - 15:01

          This.
          I do the same with NAB + IRESS trader

        • hanofee on 01/06/2020 - 15:50
          +2

          Agree, CommSec is faster on the update (at least, u can see the trend of going up or down, faster than SW). Also, as per other comment, you can put order without fund, where for SW you need to transfer first. I use both too, each has their own use

    • niksrulz on 01/06/2020 - 13:58
      +1

      i use both . selfwealth is great for shares, ig i find best for cfd

  • Kikiriki on 01/06/2020 - 12:27
    +39

    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

    • innov on 01/06/2020 - 13:24
      +6

      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.

      • IsTops on 01/06/2020 - 15:27

        whats the benefit of a chess account?

        • netjock on 01/06/2020 - 15:35
          +3

          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.

          • [Deactivated] on 01/06/2020 - 15:46

            @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.

        • kipps on 01/06/2020 - 16:14
          +1

          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.

          • txb on 27/06/2020 - 22:12

            @kipps: Cant you buy via IG then transfer your holding across as issuer sponsored?

  • RHSteven on 01/06/2020 - 13:01

    How's the exchange rate.

    • bohn on 01/06/2020 - 14:34

      +.7%

  • Aureus on 01/06/2020 - 13:01
    +8

    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.

  • EvanSuquad on 01/06/2020 - 13:20
    +1

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

    • Last Seen on 01/06/2020 - 13:31
      +1

      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.

  • JeBs on 01/06/2020 - 13:22
    +22

    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."

    • [Deactivated] on 01/06/2020 - 13:24

      No deal for international shares, not bad for local au market given the big names are doing $20.

      • blighst on 01/06/2020 - 13:51
        +2

        Except this isn't CHESS sponsored, but agree if you don't mind that, not bad.

        • JeBs on 01/06/2020 - 14:13
          +1

          I was under the impression that this deal was for their CHESS sponsored customers only. IG offer both CFD and CHESS-sponsored trading for shares. This needs confirmation.

  • tomleonhart on 01/06/2020 - 13:23

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

    • lakes_8 on 01/06/2020 - 13:34
      +1

      They do both

  • Lukec94 on 01/06/2020 - 13:33

    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.

  • Slut on 01/06/2020 - 13:36

    ComSec or Selfwealth?

    • Slo20 on 01/06/2020 - 13:53
      +7

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

      • Kikiriki on 01/06/2020 - 16:12

        This has been my experience too.

    • oleglap on 01/06/2020 - 14:29
      +6

      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.

      • Slo20 on 01/06/2020 - 14:58

        Yeah I’m the same. I know it cost me more but I only ever use the T-2.

      • Gerry H on 01/06/2020 - 15:15

        how do you do that without deposit? if i have too many orders they force me to put deposit in, when it could be earning interest elsewhere.

        • chowmanly on 01/06/2020 - 16:52

          True but these days only worth it if it’s sitting in an offset account as interest paid is paltry at best.

          • Slo20 on 01/06/2020 - 17:08
            +1

            @chowmanly: That’s exactly where it’s sitting.

  • kc7 on 01/06/2020 - 13:38

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

    • device host on 01/06/2020 - 17:27

      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.

    • garrett37 on 01/06/2020 - 20:23
      +1

      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.

      • Spazmos on 02/06/2020 - 10:58

        "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.

        • garrett37 on 02/06/2020 - 11:52

          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.

  • noxas on 01/06/2020 - 13:50

    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.

    • blighst on 01/06/2020 - 13:51

      Can't short with selfwealth.

      • noxas on 01/06/2020 - 14:00

        TA.

    • device host on 01/06/2020 - 17:23

      Stonks only go up. what planet you on?

      • noxas on 01/06/2020 - 17:56

        Doing stat arb. Looking for savings.

  • zhuoyan on 01/06/2020 - 14:00
    +2

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

  • Pat Rick on 01/06/2020 - 14:08
    +3

    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

    • CalmLemons on 01/06/2020 - 14:25

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

      • Kenb0 on 01/06/2020 - 15:21

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

      • Pat Rick on 03/06/2020 - 10:09

        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.

  • MR-AM on 01/06/2020 - 14:09
    +2

    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.

  • Penalty boxer on 01/06/2020 - 14:09
    +1

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

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

    • Spazmos on 01/06/2020 - 20:30

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

  • LongJohn92 on 01/06/2020 - 14:18
    +9

    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…

    • ragrum on 01/06/2020 - 14:57
      +10

      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.

  • eecchhoo on 01/06/2020 - 14:24

    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?

  • CalmLemons on 01/06/2020 - 14:29

    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.

    • bohn on 01/06/2020 - 14:35
      +1

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

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

    • Gerry H on 01/06/2020 - 14:57

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

      • bohn on 01/06/2020 - 15:24

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

  • popsiee on 01/06/2020 - 14:36

    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 .

    • Gerry H on 01/06/2020 - 14:59

      is the brokerage replaced by spread?

      • popsiee on 01/06/2020 - 15:09
        +1

        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 :)

        • Buy2Much on 01/06/2020 - 16:25

          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.

  • ripoffmerchant on 01/06/2020 - 14:53
    +1

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

  • Gerry H on 01/06/2020 - 14:56
    -3

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

  • Stopback on 01/06/2020 - 15:36

    Anyone one got some share tips?

    • NaRaSaRang on 01/06/2020 - 16:27

      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.

  • xpllmmff on 01/06/2020 - 15:41

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

  • hanofee on 01/06/2020 - 15:51

    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?

  • Xenmione on 01/06/2020 - 16:38

    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…

    • nfr on 01/06/2020 - 17:33

      Are you on IB Pro or Lite?

      • Xenmione on 02/06/2020 - 09:32

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

        • nfr on 02/06/2020 - 12:51

          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.

      • Willy Bargin on 17/06/2020 - 21:37

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

  • chowmanly on 01/06/2020 - 16:55
    +3

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

  • popsiee on 01/06/2020 - 18:21

    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 .

  • Midoli on 01/06/2020 - 18:53

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

    • nightelves on 18/08/2020 - 08:27

      Hi I wanted to ask if you trade on a daily basis what software or website do you get your market scan from?

  • PennyPincher11 on 01/06/2020 - 19:30

    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?

    • Jet_k on 02/06/2020 - 10:50
      +1

      contact IG support

      • PennyPincher11 on 02/06/2020 - 19:07

        Thanks mate. Had to send an email to their support and got it closed today

  • garrett37 on 01/06/2020 - 19:57

    Can you buy fractional shares on IG?

    • Willy Bargin on 01/06/2020 - 22:54
      +1

      No you cant , and there also min order size on most products .
      Stake can buy fractional share

      • garrett37 on 02/06/2020 - 15:20

        thanks man, i guess it might be worth using both then.

  • Willy Bargin on 17/06/2020 - 21:43

    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

  • nightelves on 13/08/2020 - 01:49

    Does anyone know a cheap stock scanning website or software that scans the Australian market?

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