Welcome!

News Feed Item

IG Maintains Title as Australia's No. 1 FX Provider

MELBOURNE, Australia, March 18, 2014 /PRNewswire/ --

  • IG's mobile/tablet apps are no. 1 for customer satisfaction
  • Client money protection remains a big concern for traders

For the third year running IG has maintained its significant FX market share, confirming its status as the largest CFD and FX provider* to retail clients in Australia.

Investment Trends' December 2013 FX Report revealed that IG boasts an 18% primary market share, which is 6% points ahead of its closest competitor.

In a market where more people are turning to mobile trading, IG also received the highest satisfaction amongst its clients for its mobile and tablet apps.

Head of IG Asia Pacific, Tamas Szabo, says it's a big accomplishment in a fiercely competitive FX market.

"This not only recognises the focus we've applied to our FX offering, but also our dedication to continuously adapting to clients' needs," Mr Szabo said.

"The mobile trading space is huge, and constant technological innovation is required to give our clients the trading edge."

IG  continues  to  stress  the  importance  of  client  money  protection

According to Investment Trends' report, 57% of frequent FX traders believe client fund segregation and not using client money for hedging purposes are key signs of a strong and secure FX provider.

Interestingly, only 30% of 'potential' FX traders see a provider's segregation of client funds as a sign of financial strength of a provider. This suggests that very few potential traders fully understand the risks involved when choosing a CFD provider.

Tamas Szabo reminds traders of the potential danger to client funds when trading with providers that use client money.

"Clients are dealing on a principal basis with all FX providers and the solvency of that firm and its hedging brokers poses significant risks when client money is used," Mr Szabo said.

"A number of FX providers do not offer complete protection of client funds, and it is of vital importance that clients are aware of where their money sits and if it is used in any way. Traders need to be aware that Australian regulators do not require CFD and FX providers to segregate all client funds including net-running profits, and providers can also hedge their own positions using client money.

"At IG we advocate and ensure the complete segregation of client funds, including net-running profits, and we never use client funds for hedging. These are important things to consider when choosing an FX provider, and should far outweigh a recommendation from an introducer who may not spell out these risks."

Decrease  in  FX  traders;  uptick  in  MT4  and  automated  trading

The report revealed a different FX environment compared to 2012.

Like the previous year, volatility was low, although this seemed to affect the FX market more in 2013, with the number of active traders decreasing by 4% to 51,000.

Investment Trends also reported that new FX traders entering the market decreased by 14%, though this drop was neutralised, with 11,500 previously dormant traders returning to the FX market in 2013.

In addition, the use of the MetaTrader 4 (MT4) platform increased from 47% in 2012 to 55% in 2013.

IG recognised this and expanded their offering last year to include MT4.

IG saw a significant uptake within its client base, and will continue to expand its FX offering on the platform; 57 currency pairs are already available, and it is looking to introduce more markets in the near future.

*By primary relationships, Investment Trends June 2013 Australia CFD Report & December 2013 Australia FX Report.

About  IG 

IG specialises in financial derivatives, principally CFD trading on over 6,000 global share CFDs, indices, forex, commodities, options, binaries and more. IG Markets is a part of IG Group, a FTSE 250 company established in 1974 which now employs over 1000 staff in 14 countries.

A CFD (or Contract for Difference) is an agreement to exchange the difference in value of a particular asset between the time at which a contract is opened and the time at which it is closed.

IG Markets advises that trading CFDs may not be suitable for everyone, since CFDs are a geared product and can result in losses that exceed an initial deposit, and that product disclosure statements are available from http://www.ig.com/au.

IG  Markets  Limited  ABN  84  099  019  851,  AFSL  220440

ISSUED  FOR:  IG  (http://www.ig.com/au)

FOR FURTHER  INFORMATION: MR CHRIS WESTON, INSTITUTIONAL DEALER, TEL (03)9860-1758 OR 0416-548-119


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).