IG share trading review: Trade ASX shares from $8.00

IG Share Trading
IG Share Trading
  • Monthly fee: $0.00
  • Brokerage fee - standard trade: $8.00
  • International: Yes
  • Support - After hours: Yes
  • Type of broker: Online only
Find out more Go to site

Enjoy competitive brokerage fees and 24-hour support when you trade Australian and international shares online with an IG share trading account.

IG Markets is a global online share trading provider, offering traders access to Australian and international shares, through intuitive platforms and apps. They’re renowned for charging some of the lowest brokerage fees for Australian share trading around at just $8.00 per trade. When compared to their rivals, these prices are hard to beat.

Not only can you trade Australian shares through IG, but also more than 11,000 international shares from $10 USD per trade. IG is known for their reliability and affordability when it comes to Australian share trading so if you’re thinking of making the switch, or just looking for an affordable option, IG Markets is definitely worth looking into.

Product Name IG Share Trading
Type of Broker Online only
ASX Products Shares
Exchange traded options
IPOs/floats
Available Markets ASX
NASDAQ
NYSE
London Stock Exchange
AMEX
Standard brokerage fee for ASX shares $8 or 0.1%
Support Phone
Email
After hours

Quick verdict

Good for
  • Established provider
  • Cheap brokerage
  • Australian and international share trading
Not so great for
  • Quarterly inactivity fee

Who is IG Markets?

IG Markets is a truly global, trading industry giant. Founded in 1974, IG has more than 40 years experience offering competitive trading solutions to traders all around the world. With more than 150,000 clients worldwide and net global trading revenue of £388.4 million, IG is the world's (and Australia's) largest provider of CFDs. Share trading is a new service from IG.

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 shares without having to open an account with another broker, while offering a premium product to attract new business.

IG Markets + finder exclusive offers

By opening an IG share trading account through a finder link, we are able to help you access exclusive offers that signing up elsewhere doesn't. Let's take a look at some of the offers that finder has curated for traders.

Special offer: Earn Qantas Points when you buy shares with IG.

New and existing customers will earn 25 Qantas Points for each trade in Australian shares, and 50 Qantas Points for each trade in international shares, placed through their IG share trading account.

To be eligible for this offer you must be a member of the Qantas Frequent Flyer program, so if you're not yet a member, make sure you sign up there first. The offer is available for individual customers only (not for a business or company account).

Exclusions apply. Full terms and conditions are available on the IG Markets website.

Go to site

What are the key features of IG share trading?

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.

News and analysis

IG customers can access news, advice 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.

Cheap brokerage

Brokerage costs with IG are some of the lowest in the industry. Starting at just $8.00 per trade on Australian shares, when compared to other brokers, IG comes out well and truly on top.

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, see the what markets can I trade with IG share trading section, within this guide below.

Currency conversion

IG specialises in providing foreign exchange to customers, which means you can take advantage of a 0.3% currency conversion fee when trading international shares. IG Share Trading also allows you to hold multiple currencies in your account to convert whenever you would like to take advantage of exchange rate fluctuations. Available currencies include AUD, USD, EUR and GBP.

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 Markets?

The following table has been sourced from the IG Markets 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.

IG share trading account types.

What types of customer support is available from IG Markets?

If you ever have a problem with a trade or have a question about your IG Share Trading account, 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 then email your question to IG or free call the experienced customer help team directly.

The IG website also contains a wide range of handy educational resources for traders. These are designed to help you understand the ins and outs of trading and include seminars, articles, guides and a trading glossary.

What are the fees I can expect from an IG share trading account?

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

Split between trades placed online and trades placed on the phone, the following table clearly shows the brokerage fees across Australian and the various international share markets that clients are able to trade. Online share trading is clearly the cheaper option:

LocationCommission per trade
AustraliaAUD$8/0.1% (whichever is higher)
USUS$10/2 cents per share (whichever is higher)
UK£10/0.1%
Germany€10/0.1%
Ireland€10/0.1%
LocationMinimum charge
AustraliaAUD$50 / 0.1%
USUS$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:

  1. You deal at least three times across either of your share trading or CFD accounts during the quarter, or
  2. 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 typeIG's costExecution timeHow to pay
Credit cardVisa: 1% (AUD transactions)
Mastercard: 0.5% (AUD transactions)
Non-AUD transactions: 1.5%
InstantLog in to the trading platform, select 'Payments' and follow the prompts
Debit cardVisa: Free
Mastercard: Free
InstantLog in to the trading platform, select 'Payments' and follow the prompts
BPAYFreeUp to two business daysYour BPAY Biller and Customer Reference number is available from the following locations:
  • The email IG sent when your account was activated
  • The web-based trading platform via Payments
  • Your daily statement that is sent whenever there is activity on your account
PayPal1% flat chargeInstantLog in to the trading platform, select 'Payments' and follow the prompts
Payment typeIG's costExecution timeHow to pay
Credit card1.5%InstantLog in to the trading platform, select 'Payments' and follow the prompts
Debit cardVisa: Free
Mastercard: Free
InstantLog in to the trading platform, select 'Payments' and follow the prompts
Electronic funds transfer to NZ based accountFreeUp to three business daysAccount name: IG Markets Ltd Client Trust
Bank / Branch Code: 03-0252
Account number: 0834546-05
Currency: NZD only
PayPal1% flat chargeInstantLog in to the trading platform, select 'Payments' and follow the prompts
Payment typeIG's costExecution timeHow to pay
Credit card1.5%InstantLog in to the trading platform, select 'Payments' and follow the prompts
Debit cardVisa: Free
Mastercard: Free
InstantLog in to the trading platform, select 'Payments' and follow the prompts
Local transfer to their HK based accountFreeUp to three business daysBank 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 accountFreeUp to three business daysBank 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
PayPal1% flat chargeInstantLogin to the trading platform, select 'Payments' and follow the prompts.
Payment typeIG's costExecution timeHow to pay
Credit card1.5%InstantLog in to the trading platform, select 'Payments' and follow the prompts
Debit cardVisa: Free
Mastercard: Free
InstantLog in to the trading platform, select 'Payments' and follow the prompts
Local transfer to their HK based accountFreeUp to three business daysBank 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 accountFreeUp to three business daysBank 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
PayPal1% flat chargeInstantLog in to the trading platform, select 'Payments' and follow the prompts
Payment typeIG's costExecution timeHow to pay
Credit card1.5%InstantLog in to the trading platform, select 'Payments' and follow the prompts
Debit cardVisa: Free
Mastercard: Free
InstantLog in to the trading platform, select 'Payments' and follow the prompts
International transfer to their Australian based accountFreeUp to three business daysBank 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
PayPal1% flat chargeInstantLog 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

  • An established provider. IG has more than 40 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.
  • Cheap brokerage. IG's competitive commissions start from $8.00 AUD for Australian shares. Compare IG's brokerage fees to those charged by other share trading platforms to see how they stack up.
  • 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.

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?

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36 Responses

  1. Default Gravatar
    AmitNovember 23, 2018

    In relation to subscription fees “You deal at least three times across either of your share trading or CFD accounts during the quarter”
    What is a deal? Is buy and a sell one deal or they are considered two deals?

    • finder Customer Care
      CharisseNovember 30, 2018Staff

      Hi Amit,

      Thanks for reaching out to finder.

      As a general definition, a deal is a commercial exchange as in buying or selling any instrument. As per IG’s share trading customer agreement, when you give them an instruction to deal, it means you are asking them to buy or sell so it may mean buying and selling are two separate transactions.

      However, you may also want to contact IG and confirm this information with them directly.

      I hope this helps.

      Cheers,
      Charisse

  2. Default Gravatar
    PradyOctober 22, 2018

    How does the payment by Credit Card been considered as i.e. cash advance or normal purchase?

    • finder Customer Care
      JohnOctober 22, 2018Staff

      Hi Prady,

      Thank you for leaving a question.

      When you use your credit card to do a cash advance, this is basically using the card to go to an ATM and withdraw physical cash from it. This will incur a cash advance fee which the bank would charge from you. When you mention “Normal Purchase”, this is you using the card to make purchases via merchants and not getting cash from it. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    MartinJune 7, 2018

    I am an Australian citizen and want to trade in the US market. Can I trade and write covered call options in the US stocks exchange?

    • Default Gravatar
      ArnoldJune 8, 2018

      Hi Martin,

      Thanks for your inquiry

      Yes, IG account holders have the option to trade in the US Market. You can deal on over 15,000 markets, including more 24-hour indices than any provider and out-of-hours US shares. Please do note that IG has an obligation under US tax regulation to obtain documentation from their clients that wish to trade on US equities.

      For more information about the IG Trading Account, please click the green ‘Go to site’ button to be redirected to their site.

      Hope this information helps

      Cheers,
      Arnold

  4. Default Gravatar
    PhillDecember 9, 2017

    If I want to use your company to buy U.S. shares, do I need to open a bank acct. in the U.S. to by in & out of U.S. shares.

  5. Default Gravatar
    NathanDecember 7, 2017

    Is there a minimum amount required to open an account? My previous research told me that $500 was the minimum for trading on the ASX, however, there was no minimum for NYSE and Nasdaq.
    I am currently with NAB Trade but am copping to many fees for each trade. Looking for a reliable cheaper option.

    • finder Customer Care
      LouDecember 7, 2017Staff

      Hi Nathan,

      Thanks for your question.

      For IG Share Trading account, there is no minimum deposit to open and activate an account.

      If you are interested in buying ASX shares, the minimum order size for the first trade in an ASX-listed company is $500. For the Nasdaq, it depends on the broker as some charge a minimum deposit while others don’t.

      I hope this helps.

      Cheers,
      Anndy

  6. Default Gravatar
    chrisOctober 31, 2017

    Hi, I am an Australian citizen and resident. I have a couple of questions.
    – Can I trade in USA ETFs through IG Share trading?
    – Do you have an account facility that I can transfer USD directly in to and also out of in USD?
    – Is there a daily limit and also what is the fees to transfer my USD back to my USD bank account?

    • Default Gravatar
      JonathanOctober 31, 2017

      Hi Chris,

      Thank you for your inquiry. Not a problem at all, we’ll answers your questions over here.

      – Yes you will be able to trade certain US ETF’s in the share trading account.
      – Yes, if you have a registered USD bank account, you can make the base currency of your trading account USD. Then you will be able to transfer USD in and out with ease.
      – There is no limit as to how much you can transfer from your bank account. Furthermore, there are no fees involved from their side when withdrawing your USD funds back to your USD bank account.

      You may contact IG Share Trading Customer Support for any additional inquiries or questions. Hope this information helped.

      Cheers,
      Jonathan

  7. Default Gravatar
    BrianddOctober 18, 2017

    Where are the shares I buy held? For Australian shares is IG a CHESS provider?
    And then what about International shares?
    Thanks

    • Default Gravatar
      JonathanOctober 18, 2017

      Hi Briandd,

      Thank you for your inquiry.

      IG Share Trading operates on a direct custody model. Australian shares purchased are held on your behalf by their broker Citicorp Nominees PTY LTD., while UK and US shares are registered under Citibank N.A.

      Hope this helps.

      Cheers,
      Jonathan

    • Default Gravatar
      BrianddOctober 19, 2017

      Thanks mate. Will open account

  8. Default Gravatar
    XolaniJuly 17, 2017

    How do I join trading im interested minimum trade

    • Default Gravatar
      DanielleJuly 18, 2017

      Hi Xolani,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      If you’d like to sign up for an IG Share Trading account, click the “apply now” link on this page to be securely redirected to the IG Share Trading website. You can then open one of the following account types:
      – Single account
      – Joint account
      – Corporate or trust account
      – Self-managed super fund (SMSF) account

      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
      – Your username and password
      – A photograph or scanned copy of your Australian driver’s licence or passport

      I hope this helps.

      Cheers,
      Danielle

  9. Default Gravatar
    AramisJune 16, 2017

    What is the minimum $ trade amount?

    • finder Customer Care
      RenchJune 17, 2017Staff

      Hi Aramis,

      Thanks for your inquiry.

      You can place funds in your account through 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 $200. Otherwise, there is no minimum deposit to open and activate an account.

      Cheers,
      Rench

  10. Default Gravatar
    GeorgeDecember 12, 2016

    Hi

    What are the fee’s for conditional orders?

    • finder Customer Care
      ClarizzaDecember 13, 2016Staff

      Hi George,

      Following up on my answer to you, IG offer Orders to opens or Stops and Limits which allow you to do a similar thing to Conditional orders. If this is what you’re after, there are no additional fees for this. However these are only available on CFDs and not share trading.

      Regards,
      Clarizza

    • finder Customer Care
      ClarizzaDecember 13, 2016Staff

      Hi George,

      Thanks for your question. We have gotten in touch with IG Share Trading and will get back to you ASAP.

      Regards,
      Clarizza

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