IG Group continues to challenge the UK stockbroking market with ISA offering and commission fee cut
- Over 1000 ETFs (Exchange Traded Funds) available to trade commission free throughout ISA season
- Improved and simple commission rates from as low as £5
London, 1 March 2016 - IG Group, a global leader in online trading, has today launched a dual assault on ISA savings and stockbroking commission rates, with clients able to trade eligible ETFs commission free during ISA season, from today until 30th April 2016, and through a significant reduction in commission rates on stockbroking trades.
The changes come as IG Group continues to grow and develop its stockbroking offer, and disrupt the traditional online stockbroking market by offering superior technology, coupled with highly competitive and transparent pricing.
Commission-free ISA offer
IG Group’s ISA offer allows new and existing customers to trade from a range of more than 1,000 ETFs commission free, giving investors access to a comprehensive range of equity indices, sectors, fixed income, commodities and more. Investors can also trade more than 7,500 individual stocks at very competitive commission rates. To take advantage of the offer, customers need to open or have an IG Stocks and Shares ISA account before 30 April 2016. The length of this offer allows investors to take advantage of commission free trading in both this tax year and next tax year.
Stockbroking fee cut
In addition, IG Group is today cutting its stockbroking fees to become one of the most competitive in the industry on commission rates. Both new and existing clients will be able to buy and sell UK shares at £8 per trade, with commission falling to £5 when customers place ten share transactions or one trade on IG’s CFD or spread betting services in the previous month.
Ian Peacock, Head of UK and Ireland at IG Group, comments, “Savers need to make sure they are making the most of their annual tax-free allowances, without high or hidden fees eroding performance. We want to democratise the investment industry by providing people with a transparent, cost effective way to maximise their investment returns, which is why we are offering investors the chance to trade a wide range of ETFs with no commission or ISA charges.
“Many actively managed funds are in essence tracking an index, to provide a return that an ETF could give at a much lower cost. According to ESMA, the European Financial Markets regulator, as many as 15% of funds sold across the EU as expensive actively managed products could, in fact, be classified as closet index huggers1.
“ETFs are a transparent, easy, low-cost way for customers to gain exposure to an index, asset class or sector. As investor demand for these products continues to grow, IG Group is leading the way, offering clients a comprehensive range of ETFs to meet their needs.
“Our decision to cut the cost of trading on the IG platform gives investors great value for money on a leading trading service. Our superior technology continues to give customers access to the latest data, pricing and trading technology at industry leading rates.
”Launched in September 2014, the stockbroking platform offers users live pricing on over 7,500 international shares and more than 1,250 ETFs, sourced from multiple, leading providers. IG stockbroking customers do not pay transfer fees or platform fees. IG Group does not charge exit fees, which it strongly believes are unfair to the consumer.
IG Group makes it easier for customers to trade international stock markets, such as the US, than traditional trading platforms and provides a low cost and transparent charging structure on the currency conversion at a fraction of the cost of other platforms.
For more information on the IG Group Stocks and Shares ISA and its stockbroking platform, the website can be accessed here.