Compare the Best IG Online Investment Brokerages in Singapore 2020

Choose from MoneySmart's curated list of best brokerages in Singapore and Learn how to maximise returns. Read More
We found 1 IG Online Brokerage for you!
IG logo

Min. Funding

S$0

Min. Funding
Leading CFD Provider
Min. Commission Fee US Stocks
US$10
Min. Commission Fee SG Stocks
S$10
Min. Funding
S$0
Apply Now

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

IG Markets

IG Markets Singapore is an online brokerage with a focus on CFD trading in Singapore, such as forex, indices, cryptocurrencies, shares, commodities, options, bonds, and ETFs. No minimum funding is required to open a trading account, and commission fees start from 0.2 spread on CFD indices, and 0.1% on Singapore CFD stocks and ETFs. CFDs are leveraged products that are best suited for experienced traders.

What is IG

IG Markets is a London-based trading company founded in 1974. IG Group is listed (LON: IGG) on the London Stock Exchange (LON: LSE), and is part of the FTSE 250 Index. Today, IG Markets is present in 16 other countries, including Australia, Zurich, Italy, France, India, China, Japan, Singapore, and more.

IG Markets Singapore

IG Markets has an office in Singapore, located on the ground floor along 9 Battery Road, MYP Centre – open from 8 am to 5:30 pm, Mondays to Fridays. While the office is currently closed to walk-ins as part of COVID-19 measures as of 7 April 2020 until further notice, you can reach the IG customer service hotline at +65 6390 5118.

IG Markets Trading

IG Markets trades Contracts For Difference (CFDs) across numerous markets and trading products, namely over 80 indices worldwide, 13,000 shares, 90 major, minor, and exotic forex pairs, 26 key commodities, 8 major cryptocurrencies, options, exchange-traded products (ETPs), knock-outs, digital 100s, and SGD-denominated indices.

IG Markets Singapore Fees and Charges

Commission Fees

At IG Markets, commission fees start from 0.2 minimum available spread on CFD Indices, a flat 0.10% on Singapore CFD stocks and ETFs (minimum S$10), and $0.02 per share on US CFD stocks and ETFs (minimum US$10).

Account Transfer Fee

If you are transferring your trading account to or from IG Markets, all transfers are free of charges. The transfer process takes approximately 2 weeks to be completed.

IG Trading Fees and Charges: A Summary

IG Markets Singapore Trading Fees
Shares CFDs0.10% commission (for SG, UK, EU exchanges)
Indices CFDs/ SG Blue Chip0.1 points minimum spread (S$100 per contract)
Indices CFDs/ FTSE 1001 point minimum spread (£10 per contract)
Forex CFDs0.6 points minimum spread (for EUR/ USD, AUD/ USD, EUR/ GBP, GBP/ USD)
Commodities CFDs/ Spot Gold0.3 points minimum spread
Commodities CFDs/ Brent or US Crude2.8 points minimum spread
Cryptocurrency CFDs/ Bitcoin40 points minimum spread
Account Opening FeeS$0
Overnight FundingVaries
ProRealTime ChartsS$60 (monthly, waiver available)
Inactivity FeeS$25 (inactivity above 2 years)

IG Trading Platform

IG Markets Singapore offers a variety of trading platforms suitable for both amateur and professional traders alike, ranging from the universal IG desktop trading platform, to mobile apps, and specialised tools such as ProRealTime and CFD-specific trading platforms such as MetaTrader 4.

IG Trading Platform

IG Markets Singapore’s desktop trading platform features user-friendly functions such as a simple deal ticket with the ability to set parameters such as stops and limits, currency options, alerts, trade sizes, margin factor, and more. It boasts a fast response time of 0.014 seconds per execution on average, and hosts over 130,000 users per month.

Specialised Platform Tools

If you are a professional or seasoned CFD trader, you will be able to customise your IG desktop and mobile trading platforms with add-on subscription features such as the advanced charting tool, ProRealTime, the FX-friendly platform, MetaTrader 4 (MT4), or the L2 Dealer platform for direct market access (DMA).

Try MoneySmart's newSavings Account Comparison Tool

Compare Savings Accounts and maximise your earnings with best interest rates by finding the right bank.

How to Open a IG Markets Account

To open an IG Markets Singapore trading account online, scroll up to click on the IG Markets bubble to start your application process with preferential promotions and access to customer support. Otherwise, you can visit the IG Markets website and click on “Create a Live Account”

Step 1Apply for CDP

If you are new to trading or investing in shares in Singapore, it will be good to first set up your CDP (Central Depository) account offered by the SGX (Singapore Exchange Limited). A CDP account helps to hold the securities you have purchased and legally own. The CDP is regulated and supervised by the MAS (Monetary Authority of Singapore). To open a CDP account, whether an individual or joint account, visit the SGX website.

Step 2CDP or Custodian

When trading CFDs, you do not actually purchase nor legally own the asset in question – and you therefore do not need a Central Depository (CDP) account to trade CFDs. So, when opening an account with CFD traders such as IG Markets, you will naturally not find options to link your CDP account to your trading account.

Step 3Apply Online

To open an IG Markets CFD trading account, scroll up, click on the IG Markets details page and you will be able to sign up for an account instantly. Alternatively, visit the IG Markets website, choose between a personal or corporate account, and select “Create your account”. You will have to fill in an online form, get instant verification, fund your account, and start trading.

Step 4Fund

To fund your IG Markets Singapore trading account, you must make a credit card, debit card, bank, or cheque transfer from a bank account registered under your name. A PayNow or FAST bank transfer will take 2 hours to process on weekdays, working hours. A TT will take 1 business day for local transfers. Credit or debit card transfers made via Visa or Mastercard will be immediate but will incur a 2.3% levy.

Step 5Learn to Trade

IG Markets offers an IG Academy on their website with materials for both amateur and experienced CFD traders. You will find free online courses, live sessions such as webinars and seminars held by experts, beginner courses such as “How does trading work”, and introductory tutorials to the IG Markets trading platform to learn to place a trade.

Step 6Your First Trade

How to place a trade on IG Markets Singapore’s trading platform? You will need to first click on a market to open the trade ticket to view the live buy and sell prices, spreads, and deal size. Next, fill in the deal ticket with your deal size, currency, and other trade actions and parameters. Finally, click on “Order” to open your position. You will be able to switch on alerts to receive notifications when your trade ticket’s conditions have been fulfilled.

IG Markets Deposit and Withdrawals

What is IG Markets' minimum deposit for opening a trading account? How much money do I need to fund my account? Also, how do I close my IG Markets trading account in the future? These are some questions that we all have while considering an online brokerage. Fret not, we have it all covered here.

Minimum Deposit

IG Trading does not require a minimum deposit. You may be required to make a US$300 minimum deposit if you are funding your account via credit, debit card, or PayPal.

Close IG Markets Account

How to close your IG Markets account? To close your IG Markets Singapore account, first close all your positions, withdraw all funds from your trading account, and clear any outstanding payments. Next, you will be required to email the IG Markets Singapore help desk from your registered email account.

IG Markets Trading Products

IG Markets Singapore
IndicesOver 80 indices markets worldwide, 24/7 access
ForexOver 90 major, minor, emerging, and exotic currency pairs
SharesOver 13,000 CFD shares, long or short
CommoditiesAccess to 26 key commodity markets
CryptocurrenciesAccess 8 major crypto CFDs
Knock-OutsBull and bear knock outs across FX, stock indices, commodities, shares
Digital 100sLadder, Up Down, One Touch, Target, Hi Lo, Tunnel across indices, FX, commodities, futures
ETPsOver 200 ETPs for CFDs
SGD-denominated indicesAccess 11 stock indices, 3 commodities
OptionsAccess to options on major indices, FX, etc.

IG Markets News and Research

Access major market news, and events from IG Markets website’s “News and Trade Ideas” section, trading strategies for options, hedging etc. from the “Strategy and Planning” section, key global financial and political events from the “Financial Events” section, and company reports and announcements from the “Economic Calendar” page. You can also have all these market news delivered to your email inbox.

Trading for Beginners

If you are new to CFD trading, IG Academy offers free online courses, webinars, and seminars by IG experts introducing the fundamentals of financial markets, trading, and practical tutorials such as placing your first trade on the IG trading platform. You will also find a comprehensive IG Glossary of trading and investing vocabulary.

Trading Strategies

For experienced CFD traders, you will find IG Markets’ risk management tools, free demo account, in-depth explainers of trading profits, transaction fees, trading style, and the “CFDs: A Trader's Guide'' eBook helpful.

IG Markets Help Desk

To contact IG Markets Singapore’s customer service, call +65 6390 5133, available 24/5. Alternatively, you can email the help desk, or visit the Singapore office along Battery Road.

IG Markets Summary

IG Markets is best for experienced traders with a niche for trading CFD orex, indices, cryptocurrencies, shares, commodities, options, bonds, and ETFs. The IG trading platform is available on both web and mobile, and may be integrated with specialist and charting platforms such as MetaTrader 4 (MT4), ProRealTime, and other web APIs such as the representational state transfer (REST) API, or streaming API. A FIX APIs are available for institutional traders as well. If you are a beginner trader, IG Markets’ education and learning materials will be helpful for you: tutorials on how to use the IG trading platform, free trading courses and webinars on the IG Academy, discussions on the IG Community forum, live bidding and offering prices on popular markets, and IG Markets global team of experts’ live Reuter and Twitter feeds.

Commonly Asked Questions

How does IG trading work?

IG Markets is an online brokerage headquartered in London and is present in 17 countries, including Singapore where it is authorised by the Monetary Authority of Singapore (MAS). Its web and mobile trading platform is suitable for both beginners and professional traders. Experienced individual, professional, and institutional traders may trade CFDs (contract for differences), spread betting, and forex on IG Markets’ trading platform. If you are new to the IG Markets trading platform, you can sign up for a demo account or visit the website for tutorials.

How much does IG charge per trade?

IG charges a commission fee per trade, starting from 0.2 minimum available spread on CFD Indices, a flat 0.10% on Singapore CFD stocks and ETFs (minimum S$10), and $0.02 per share on US CFD stocks and ETFs (minimum US$10).

What is the minimum deposit for IG Trading?

IG trading does not require any minimum deposit if you are looking to open a trading account if you are funding your account via bank transfers. However, you may be required to make a US$300 minimum deposit if you are funding your account via credit, debit card, or PayPal.

Can I trade gold on IG?

You can trade gold on IG, along with other precious metals such as silver, platinum, and palladium with ETFs (exchange-traded funds) or leveraged products like CFDs (contract for differences). You will also be able to view real-time spot gold, spot palladium, and spot platinum prices on IG.

How to use IG Trading Platform?

To use the IG trading platform, login to your IG Markets trading account, and click on the left hand menu to view markets, positions, and orders. You will then be able to save your preferred watchlists and markets by selecting the “Add to Workspace” option on the top right corner of your screen. To place a trade on the IG trading platform, view a deal ticket to see live buy and sell prices, minimum deal size, and spread. Enter your deal size, currency, and close conditions. Finally, click on “Order” to set your position open. If you are new to IG Markets, visit the IG Markets help and support website to access step by step tutorials and guides.

How to Buy Options on IG Markets

To buy and trade options on IG Markets, you first need to create a live IG Markets trading account online, request for access to activate your options trading feeds by emailing IG Markets Singapore help desk or calling IG Markets Singapore customer service hotline at +65 6390 5118.