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...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
You are moving to the Cloud. The question is not if, it’s when. Now that your competitors are in the cloud and lapping you, your “when” better hurry up and get here. But saying and doing are two different things. In his session at @DevOpsSummit at 18th Cloud Expo, Robert Reeves, CTO of Datical, explained how DevOps can be your onramp to the cloud. By adopting simple, platform independent DevOps strategies, you can accelerate your move to the cloud. Spoiler Alert: He also makes sure you don’t...
President Obama recently announced the launch of a new national awareness campaign to "encourage more Americans to move beyond passwords – adding an extra layer of security like a fingerprint or codes sent to your cellphone." The shift from single passwords to multi-factor authentication couldn’t be timelier or more strategic. This session will focus on why passwords alone are no longer effective, and why the time to act is now. In his session at 19th Cloud Expo, Chris Webber, security strateg...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, shared the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
"We are a custom software development, engineering firm. We specialize in cloud applications from helping customers that have on-premise applications migrating to the cloud, to helping customers design brand new apps in the cloud. And we specialize in mobile apps," explained Peter Di Stefano, Vice President of Marketing at Impiger Technologies, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...