IG Markets Australia

ig markets australiaThe broker known as IG Markets is actually owned by the IG group and they accept Australian traders. This group which was formed in 1974 and originally traded gold.

Now though, it is a global enterprise serving close to 140,000 traders from all over the world. It has set up 17 branches internationally and racked up billions of dollars’ worth of profit in the market. Especially in Australia this broker is very trusted.

IG Markets Australia:


What We Liked

  • Low minimum deposit
  • Customer support available 24/7
  • Regulated by the ASIC
  • Demo account offered

What We Didn’t Like

  • Slim amount of options with deposits and withdrawals

Is IG Markets Available To Australian Traders?

Subsidiaries of IG Markets have been set up in Australia and New Zealand. The Branch in Australia is strictly regulated by the Australian Securities & Investments Commission.

This is an important feature for any trading broker operating in Australia. It reassures prospective traders that their selection of a broker is licensed and regulated by the government. This eliminates the possibility of the broker being a scam.

Traders in Australia can access the ground-breaking trading platform offered by IG Markets online.

It is a cloud based trading platform that does not require traders to download additional software to gain entrance to their accounts.

Instead, they can enter their accounts from just about any modern browser. All subscribed traders have access to over 10,000 trading instruments on the platform. There is also the availability of mobile apps that can be used to place trades. The platform streams and displays prices in real time.

This assists traders in conducting an accurate analysis to better their chances of being in the money.

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IG Markets accepts a minimal deposit of $200 for a new account and for the first couple of years, it does not penalise a fee for inactivity. There isn’t a specific pay-out rate guaranteed at IG Markets. A rough estimation can be made by considering the time period allocated to the trade and the assets involved. However, the IG Markets trading platform will give you a potential pay-out once you have selected a trade and a time period for it.

IG Markets uses as simple and straightforward a system as possible with their trading accounts

  • Apart from the free demo account, all traders can use just one live account which is entitled to every kind of trading instrument the broker has to offer.
  • There are two types of  trading available: traditional and sprint markets which is a more recent opportunity.

It offers extremely fast trades with a time limit ranging from a minute to an hour. The main difference is that in sprint markets, users cannot close positions which have been opened. With traditional binaries, the positions can be closed before the appointed time of expiry.

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Moreover, the types of trading are more with compatible with traditional binaries than they are with sprint markets. There are trading types like Hi-Lo, Up/Down, Ladder, Tunnel and One touch which are not available with sprint markets.

  • When it comes to making deposits, you will be charged 1.5% of the funds transferred from your VISA credit card and 0.5% on your VISA debit card.
  • With MasterCard however, no fee is charged and for Australia based traders, BPay is also a free option.
  • A bank wire transfer to IG Markets’ Westpac Bank account is the preferred method for international clients.

Unfortunately, the options remain fairly limited for both foreign and domestic traders, with the withdrawals as well. Australia based traders can only use BPay or VISA or MasterCard credit cards.

Happily however, there is good news to learn about with the customer services of IG Markets. There are several ways for clients to reach customer support.:

  1. There is a help desk that can be accessed via email.
  2. Representatives of the broker can be reached by telephone.
  3. You can also engage in a live chat on the IG Markets official website as well get in contact on Twitter.

A good alternative to IG Markets is Highlow – This broker also accepts Australian traders and they still offer binary options trading.

Is IG Markets A Good Choice For Australians?

IG markets is a well reputed broker in Australia, New Zealand and much of South East Asia. Being strictly regulated and licensed by the ASIC, traders should have little to worry about entrusting their funds to the broker.

The only real downside with IG Markets is the uncertainty of the payout rate and the minimal number of deposit and withdrawal methods.