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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.
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 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 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||Trading Fees|
|Shares CFDs||0.10% commission (for SG, UK, EU exchanges)|
|Indices CFDs/ SG Blue Chip||0.1 points minimum spread (S$100 per contract)|
|Indices CFDs/ FTSE 100||1 point minimum spread (£10 per contract)|
|Forex CFDs||0.6 points minimum spread (for EUR/ USD, AUD/ USD, EUR/ GBP, GBP/ USD)|
|Commodities CFDs/ Spot Gold||0.3 points minimum spread|
|Commodities CFDs/ Brent or US Crude||2.8 points minimum spread|
|Cryptocurrency CFDs/ Bitcoin||40 points minimum spread|
|Account Opening Fee||S$0|
|ProRealTime Charts||S$60 (monthly, waiver available)|
|Inactivity Fee||S$25 (inactivity above 2 years)|
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 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.
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).
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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”
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.
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.
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.
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.
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.
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.
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.
|IG Markets Singapore|
|Indices||Over 80 indices markets worldwide, 24/7 access|
|Forex||Over 90 major, minor, emerging, and exotic currency pairs|
|Shares||Over 13,000 CFD shares, long or short|
|Commodities||Access to 26 key commodity markets|
|Cryptocurrencies||Access 8 major crypto CFDs|
|Knock-Outs||Bull and bear knock outs across FX, stock indices, commodities, shares|
|Digital 100s||Ladder, Up Down, One Touch, Target, Hi Lo, Tunnel across indices, FX, commodities, futures|
|ETPs||Over 200 ETPs for CFDs|
|SGD-denominated indices||Access 11 stock indices, 3 commodities|
|Options||Access to options on major indices, FX, etc.|
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.
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.
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.