IG Australia extends its FX market leadership position
Investment Trends' 2012 Forex Report has revealed that IG has maintained its position as Australia’s number one forex provider.
IG increased its primary market share of FX traders by 2% from 2011, to 19%. Its share of frequent traders (those who trade more than 15 times each month) rose by 5% to 15%, with notable declines of up to 7% experienced by other providers.
Head of IG, Asia Paciﬁc, Tamas Szabo, said, ’We are very pleased to have increased our lead as the No. 1 FX provider in 2012. The forex market is fiercely competitive, and this recognises the focus we’ve applied to our FX offering.’
In its national report, Investment Trends stated that the forex market has sustained its strength in 2012, with the number of active FX traders only falling by 1000 to 53,000, despite a 26% fall in market volatility.
More new forex traders choose IG
The number of traders entering the forex market for the first time dropped by 20% (14,000 traders versus 17,500 in 2011). In light of this data, IG has continued to successfully attract new FX traders in 2012. Investment Trends revealed that 27% of new forex traders chose IG as their main provider.
IG continues to expand its FX offering to accommodate for clients demanding a broader suite of products to trade. This includes the introduction of emerging and exotic pairs, including USD/BRL, CHF/HUF and USD/TWD, with more than 70 forex pairs available to trade in total. The client response has been very positive and IG has seen a strong take-up rate.
No.1 for mobile trading apps
IG also maintained its number one ranking for its mobile trading apps. It is committed to providing cutting-edge technology for an industry that is moving rapidly towards mobile and on-the-go trading.
’As the markets change and demands shift, adapting to clients’ needs is crucial. Along with product innovation and highly competitive pricing, we attribute our success to setting the benchmark in being fair and transparent. These aspects provide our clients with a much-needed edge and also ensure our position at the forefront of the forex trading market,’ Mr Szabo said.
For further information, please contact:
Chief Market Strategist
(03) 9860 1758 or 0416 548 119