Leading online trading services provider IG Group Holdings plc (LON:IGG) today announced a dual assault on ISA savings and stockbroking commission rates.
Clients of the broker will be able to trade eligible ETFs commission free during ISA season, from today until April 30, 2016, and through a substantial reduction in commission rates on stockbroking trades.
The changes come as IG Group keeps growing and developing its stockbroking offer.
- Commission-free ISA offer
IG Group’s ISA offer enables 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. In addition, investors can trade more than 7,500 individual stocks at very competitive commission rates. To make use of the offer, customers need to open or have an IG Stocks and Shares ISA account before 30 April 2016. The timing allows investors to take advantage of commission free trading in both this tax year and next tax year.
- Stockbroking fee cut
IG Group is today axing 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.
“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.
The official announcement from IG can be viewed by clicking here.