IG Markets Review: The Global Giant, Measured for AU

Where IG Sits on the Map

IG Markets has been around since 1974 and is listed on the London Stock Exchange as part of the FTSE 250. The brand is the world's No.1 CFD provider, offering access to over 17,000 markets: FX, indices, shares, commodities, and ETFs.

For traders outside the stricter EU rules, IG Markets accounts are usually run through entities in places like Bermuda or South Africa. That means your client agreement and protections are tied to those entities, not to an Australian one.

Can Australians Actually Open an Account?

IG Markets does not hold an Australian Financial Services License from ASIC. AU residents opening an account will likely do so with an offshore IG entity. The legal and regulatory framework governing your account is the one from that offshore jurisdiction, not the Australian one.

It's legal for an Australian resident to trade with a reputable international broker. IG is transparent about which of its entities will serve a client from your region - you'll see your legal counterparty when you sign up, and it will be an entity regulated by a foreign regulator.

Breaking Down the Costs for AU Traders

For FX, IG's USD/JPY spread goes from 0.6 pips. For shares, IG offers zero commission on 10,000+ shares. The trade-off is that you're in a CFD share dealing environment, not buying the underlying stock.

Platforms and Tools: The Practical Breakdown

IG's proprietary web and app platform is solid, and it's where most people start. IG also offers MT4 and TradingView, which are the community standard. ProRealTime and L2 Dealer are available for the more professional traders. IG does not support MetaTrader 5.

Reasonable if

You want a single platform for global products. If you trade CFDs on US shares, EU indices, and FX in the same account, this is a huge advantage. The range of 17,000+ markets means you won't be finding another broker when you move from gold to German DAX to a UK stock. The zero-commission shares are a good reason for IG to be on your shortlist.

Unreasonable if

You need a local regulator's direct intervention to feel safe. The lack of ASIC licensing is a real factor. If you value the specific protection of the Australian legal system for your trading account, you might be better served by another international broker with a stronger direct license in a major jurisdiction like the FCA or a local Australian broker.

The Part Nobody Advertises

There are no deposit bonuses - IG's regulated model doesn't offer that kind of incentive.

The minimum deposit when using a bank transfer is around $0; using a card will set you back about $300.

As an Australian resident, you are responsible for declaring your capital gains and any income from trading. The tax treaty and your status can get complicated when using an offshore entity.

You get the world's market access, but you take on the administrative burden of a global tax situation and a foreign legal agreement.