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
Leading CFD Provider
Min. Commission Fee US Shares
US$10
Min. Commission Fee SG Shares
S$10
Min. Funding
S$0
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IG CFD Products & Market Access

Now let’s take a closer look at CFD trading. In a nutshell, it’s a contract whereby 2 parties agree to exchange the difference in the value of a specific asset from the time the position is opened until it’s closed. When you have buy or sell position, you can incur profit or losses depending on the direction the market moves. Given that a CFD is a derivative product, its value is based on an underlying asset.

Forex

It comes as no surprise as to why foreign exchange trading is a popular choice among traders. When it comes to forex trading with CFD, you don’t need billions of dollars to get started. Even if you’re an average joe trader, you simply need to set up your IG online trading account in order to gain access to more than 80 major, minor and exotic forex pairs.

Indices

If you’d like to get your hands on the world’s top financial markets, you can look into stock index CFD. Put simply, it’s a financial instrument that represents the value of the underlying publicly-traded companies. Dow Jones, Nasdaq, S&P, Nikkei, and our very own SGX are some examples of stock indices. The good thing about IG Markets is you trade indices all day long across 30+ indices.

Cryptocurrencies

While not a lot of brokerage firms offer cryptocurrency CFDs, IG Markets lets you trade CFDs on a number of popular cryptocurrencies such as Bitcoin, Ether, Litecoin, Ripple, Stellar, NEO and EOS. This means you can take advantage of the volatility closely associated with these cryptocurrencies by predicting the rise and fall of their value. Here’s how it works when you’re trading bitcoin or ethereum through CFD. You can choose to go long if you think its value will rise, or opt to go short if your gut tells you that the value will drop. If your speculation is correct and the market moves along your direction, you’ll be able to earn profit & vice versa.

Shares

Here’s the thing – when you trade shares with IG Markets, not only will you be able to gain access to more than 12,000 global share CFDs, you’ll get to trade shares on low margins and competitive spreads too. Keep in mind that when you start speculating on IG share CFDs, derived share pricing will be used in order to make the equity markets more accessible.

Commodities

With a total of 26 commodity markets, IG offers a new way for you trade commodity CFDs. It’s quite simple. Akin to index CFD, you’ll be subject to a funding charge if you hold your commodity position overnight. Aside from this, you’ll be able to access technical analysis of your chosen commodity market whenever you want.

IG Fees and Charges

Commission Fee

This type of fee is not a one-size-fits-all. It varies per brokerage firm and investment product. So if you’re eyeing a certain asset, you can’t simply assume that the same commission fee applies across the board. At times, other products are offered at zero commission fee. With IG, there’s no fee involved when you trade forex and cryptocurrency. When it comes to trading Singapore share CFDs, the commission fee is at 0.1%.

Spreads

Keep this in mind – when it comes to trading investment products with spreads, the value of your asset should always surpass the spread price. If you succeed in doing this, you’ll get to enjoy earnings from the trade. In the case of IG, some investment products with zero commission will charge you in the form of spreads.

Rollover Rate

You’ll be surprised that rollover rates are typically overlooked by traders. This rate is the interest that’s either charged or credited to your account each time you keep your position open overnight. By doing so, you’ll either earn profits or incur losses, which can be significant or negligible, depending on how long you hold your position open.

IG Account Opening Procedure

Apply online

When we say opening an online trading account with IG Markets is fuss-free for Singaporeans and permanent residents, it means you simply need to fill in your details through MyInfo for instant activation. If you’re a foreigner, you must complete the online application form manually. While completing the form, you’ll be asked a few questions about your trading experience.

Prepare the requirements

As with other application processes, you’ll be asked to submit a copy of your NRIC. If you’re a foreigner working in Singapore, you’ll need to prepare a copy of your employment pass and proof of residence. IG Markets will then validate your information and gauge your trading knowledge.

Make an initial deposit

You can make your initial deposit in SGD either through internet bank transfer or via credit/debit card. For other currencies such as USD, GBP and HKD, you may refer to their website for the equivalent amount.

IG Investment Platforms and Trading Insights

We all know that an easy-to-use trading platform is one of the most important trading tools. If you’re heavy on web browser trading or someone who prefers the ease of mobile trading apps, you’ll be glad to know that IG Markets does great on both. You’ll be able to perform quick trades securely even when you’re on the go. For advanced traders out there, there’s a more comprehensive trading platform called MetaTrader4 that offers an advanced and customisable trading experience with in-depth technical analysis. By giving you access to an extensive range of market insights, you’ll be able to see things from every possible angle and make informed decisions before executing trades.

Frequently Asked Questions

How much is the minimum funding required?

For IG there is no minimum funding required. But should be encouraged to deposit enough funds so that you have some buffer to incur any potential losses.

How do I transfer funds to my IG trading account?

You’ll be happy to know that there’s more than 1 way to fund your IG Markets online trading account – through bank transfer, card payment, cheque or bill payment. There are only 2 exceptions. You can’t pay in cash or through AXS/ATM machines.

What’s leverage in forex trading?

Leverage is a big thing in the world of CFD trading. In a nutshell, when you use leverage, you only need to shell out a portion of the full value of your trade to open a position. The remainder will then be loaned to you by your provider. By doing so, your profit and losses will be multiplied.

What are the minimum brokerage charges in IG?

Brokerage fees are never fixed. The amount always depends on the type of asset and value of each transaction you make.

Who can open IG online trading account?

As long as you’re 18 years old and above, and not an undischarged bankrupt, you can open an online trading account with IG Markets.