IG Share Trading

Mozo snapshot:

IG is one of the biggest names in the share and CFD trading market. Depending on which is greater, you’ll pay $8 or 0.1% of each trade in brokerage costs, which is quite low compared to other share trading platforms. Along with the transparent pricing, traders will appreciate the easy to use platform, numerous independent broker reports and market data resources, and the bonus Qantas points available with each trade. 

Key features:

When you trade with IG, you’re trading with one of the biggest names in the industry - and a 2019 Mozo Experts Choice Award winner, we might add. It’s one of the most popular share and CFD trading brokers in Australia, providing access to more than 13,000 shares from markets all over the world.

While there’s usually an extra layer of complexity when trading overseas shares in Australian dollars, IG gets around the usual currency conversion problems and associated fees by denominating all indices in AUD.

Brokerage costs have been kept low: $8 for trades under $8,000 ($50 if done by phone) and 0.1% commission for trades greater than $8,000. While these numbers are very good compared to other platforms, there’s also a monthly fee of $16.67 ($50 per quarter) which makes IG a bit pricier than its seems at first glance.

That said, the fee can be waived if you trade three times per quarter using either your share trading or CFD account, or if you hold no open positions in your share trading account at the end of the quarter.

There are a few extra perks on offer too. Every time you buy or sell Australian shares, you’ll get 25 Qantas points. And if you’re buying or selling international shares, you’ll get 50 Qantas points. You’ll just need to make sure you’re a member of the Qantas Frequent Flyer program, otherwise those points will go to waste.

You’ll also be glad to know that IG’s customer support service is available around the clock to handle any problems or inquiries you might have. And the website features a number of resources to help you get your head around trading if you’re a beginner and some pretty comprehensive market analysis tools that the more seasoned trader will appreciate.

As for signing up, you’ll be asked to fill out a registration form (which should take little more than 5 minutes), and provide basic identification details and proof of residence (e.g. a bank statement or utility bill).

Who it's good for:

IG would suit beginner and experienced traders alike, but you’ll get the most value out of it the more you trade, given that the monthly fee is waived once you make three trades per quarter using your share trading account. And if you’re looking to trade both Australian and overseas stock, IG is one of the more popular options available.