The short version
| Promotions | Demo account, no bonus |
|---|---|
| Platforms | IG web, MT4, TradingView |
| Base currencies | AUD, USD |
| Max leverage | Up to 1:30 |
| Funding | A$100 min deposit |
| Instruments | 17,000+ markets |
| Costs | $0 share commission |
| Local licence | ASIC AFSL 515106 |
Tradable markets
- Forex / CFDs
- Local stocks
- US stocks
- Crypto
- Commodities
Losses on leveraged products are not limited to what you expected to put at stake.
Where IG Sits on the Map
IG Markets has been around since 1974 and is listed on the London Stock Exchange as part of the FTSE 250. The brand is the world's No.1 CFD provider, offering access to over 17,000 markets: FX, indices, shares, commodities, and ETFs.
For traders outside the stricter EU rules, IG Markets accounts are usually run through entities in places like Bermuda or South Africa. That means your client agreement and protections are tied to those entities, not to an Australian one.
| Feature | IG Markets | Typical Global Broker |
|---|---|---|
| Years Operating | Since 1974 | 5-15 years |
| Market Access | 17,000+ markets | 500 - 5,000 markets |
| Regulated Entity (AU) | No ASIC license | Varies |
| FX Spreads (USD/JPY) | From 0.6 pips | 0.8 - 1.2 pips |
| Share Dealing | Zero commission on 10,000+ shares | Often fee-based |
Can Australians Actually Open an Account?
IG Markets does not hold an Australian Financial Services License from ASIC. AU residents opening an account will likely do so with an offshore IG entity. The legal and regulatory framework governing your account is the one from that offshore jurisdiction, not the Australian one.
It's legal for an Australian resident to trade with a reputable international broker. IG is transparent about which of its entities will serve a client from your region - you'll see your legal counterparty when you sign up, and it will be an entity regulated by a foreign regulator.
Breaking Down the Costs for AU Traders
For FX, IG's USD/JPY spread goes from 0.6 pips. For shares, IG offers zero commission on 10,000+ shares. The trade-off is that you're in a CFD share dealing environment, not buying the underlying stock.
| Instrument | Cost Structure |
|---|---|
| FX (USD/JPY) | From 0.6 pip spread |
| Share CFDs | Zero commission on 10,000+ shares |
| Indices | Variable spreads, often tight |
| Funding | Overnight charges apply on leveraged positions |
Platforms and Tools: The Practical Breakdown
IG's proprietary web and app platform is solid, and it's where most people start. IG also offers MT4 and TradingView, which are the community standard. ProRealTime and L2 Dealer are available for the more professional traders. IG does not support MetaTrader 5.
Reasonable if
You want a single platform for global products. If you trade CFDs on US shares, EU indices, and FX in the same account, this is a huge advantage. The range of 17,000+ markets means you won't be finding another broker when you move from gold to German DAX to a UK stock. The zero-commission shares are a good reason for IG to be on your shortlist.
Unreasonable if
You need a local regulator's direct intervention to feel safe. The lack of ASIC licensing is a real factor. If you value the specific protection of the Australian legal system for your trading account, you might be better served by another international broker with a stronger direct license in a major jurisdiction like the FCA or a local Australian broker.
The Part Nobody Advertises
There are no deposit bonuses - IG's regulated model doesn't offer that kind of incentive.
The minimum deposit when using a bank transfer is around $0; using a card will set you back about $300.
As an Australian resident, you are responsible for declaring your capital gains and any income from trading. The tax treaty and your status can get complicated when using an offshore entity.
| Platform | Runs on | Best for |
|---|---|---|
| MT4 | desktop / web / mobile | Forex and CFDs, expert advisors |
| TradingView | desktop / web / mobile | Charting and community |
| MetaTrader 4 | desktop / web / mobile | Forex and CFDs, expert advisors |
You get the world's market access, but you take on the administrative burden of a global tax situation and a foreign legal agreement.
Where they differ
| Regulation | ASIC-regulated | FCA · CySEC · FSCA |
| Account types | CFD, share, demo | Standard, Raw+, cTrader, Elite, VIP |
| Company | IG Group founded 1974 | FxPro founded 2006 |
| Reputation | ASIC broker, broad range | Holds genuine local DFSA licence |
IG Markets’ BMA-licensed entity is not the same as a fully top-tier broker offering FCA, CySEC, ASIC, or SCA-class investor safeguards: review sources describe BMA oversight as weaker offshore-style regulation, with segregated client accounts but no statutory compensation scheme like the FSCS protection available under FCA oversight. Practically, a trader gives up the extra layer of guaranteed compensation on a broker failure and the stricter retail-protection framework that top-tier regulators impose, so losses from insolvency or shortfalls are less likely to be reimbursed and dispute remedies are narrower.
Your questions
Is IG Markets regulated in Australia?
IG Markets does not operate under an Australian Financial Services License for retail clients. Australian traders are typically onboarded with an offshore IG entity, which is regulated by those foreign jurisdictions.
Can an Australian resident legally open an account with IG?
Yes, it's legal for an Australian resident to open an account with a reputable international broker. The local ASIC consumer protections won't apply to this account.
What should I check before opening an account as an Australian?
Check the specific legal entity that will serve you and the regulator overseeing that entity. Look at the client agreement, understand the tier of protection you have, and clarify your tax reporting obligations to the ATO.
Does IG offer a demo account for Australian traders?
Yes, IG typically offers a free demo account. It's the practical way to test their platform and your trading strategies without risking any real capital.