Our FAQs are divided into four sections: Getting started; Learn more about CFDs; What are the costs; and More about IG Markets . If you can't find an answer here, please call us on (65) 6390 5118 and we'll be pleased to help.
Getting started
How do I open an account?
What documents do I need to provide?
Can I apply from outside Singapore?
Is there a minimum deposit to open an account?
What type of account should I apply for?
How can I fund my account?
How do I make withdrawals?
Learning more
How can I learn more about CFDs?
Is TradeSense free to join?
Can I open a demo account?
What is DMA?
Can I trade shares at the underlying market price?
What are the costs?
Do you charge to use your platform?
How do you charge commission?
What is the financing rate charged for holding an equity position overnight?
Are there any hidden charges?
What fees will IG Markets pass onto the client?
What is the cost of DMA?
Is there a cost for Guaranteed Stops?
More about IG Markets
Who is IG Markets?
Is my money safe with IG Markets?
Getting started
How do I open an account?
You can print out an application form from our Open an Account page and send us a completed version. Or you can just pop into our office in Raffles Place where one of our customer services team will help you fill out a form and open an account. This is generally quicker as you need to provide us with verified documents to process your application.
What documents do I need to provide?
You will need to provide, either by post or visiting our office, a Passport, Identity Card or Driving Licence, plus an original proof of address such as recent bank statement. For more guidance regarding documentation, please see the Supporting Documentation section of our Open an Account page.
Can I apply from outside Singapore?
We accept applications from most Asian countries. Please note documents must be notarised for applications from outside Singapore.
Is there a minimum deposit to open an account?
No deposit is required to open an account, and there is no minimum account balance. However, you will need to fund your account to begin trading.
What type of account should I apply for?
We offer two different types of individual account, each suited to varying levels of experience and risk capital. If you are new to CFDs we suggest you consider our Limited Risk Account, where Guaranteed Stops must be attached to all trades. This means you know exactly how much is being risked. The alternative is the Standard Account, where you have the choice of whether to apply Guaranteed Stops to your position. You can use Guaranteed Stops with any account type.
In addition to individual accounts, we also offer corporate, trust and joint accounts. To apply for any of these, please visit our Open an Account page.
How can I fund my account?
You can pay by fund transfer from your bank, and by card or cheque. Please note we do not accept cash, cashier orders or third-party payments. For detailed instructions on funding your account, please see our payments section.
How do I make withdrawals?
You can make withdrawals from your IG Markets account from within our dealing platform, or you may request funds by calling or emailing our Helpdesk on (65) 6390 5118 or helpdesk@igmarkets.com.sg.
Learning More
How can I learn more about trading CFDs?
We offer a free, dedicated educational resource to clients, called TradeSense. It is a six-week course designed to guide you through your first steps of CFD trading. During this course you can also trade at a fraction of the normal contract size, to help reduce your risk while you are getting used to trading CFDs. We also provide free access to our extensive library of online seminars and our live seminars.
Is TradeSense free to join?
TradeSense is free, all you need is an IG Markets account - just check TradeSense on the application form to enter the programme.
When you sign up to TradeSense, you will have the option to receive the six modules free via binder or email. More...
Can I open a Demo account?
Yes, we offer free two-week Demo accounts, which provide access to some of PureDeal's functionality and markets. However, many of our clients find it easier to open a full live account. We do not require a minimum account opening balance and through our TradeSense programme you can trade at a fraction of the normal contract size.
What is Direct Market Access (DMA)?
Direct Market Access (DMA) allows you to trade directly into the order book of the world's major equity exchanges. Using PureDMA, the DMA version of PureDeal, you can place orders inside the market spread and examine market depth to gauge the liquidity on either side of the exchange. PureDMA can be activated in PureDeal, under My Account>Settings>Preferences. It is free to active clients. We also offer L2 Dealer, a downloadable DMA platform, designed for professional traders.
Can I trade share CFDs at the underlying market price?
Yes, with IG Markets you always trade at the guaranteed market price on share CFDs. Other CFD providers may add a spread to the bid/offer price, but with us the price you see is the real price in the market. Read more...
What are the costs?
Do you charge to use your platform?
It is free to use any of our platforms.
How do you charge commission?
IG Markets either quotes a commission charge, for equity products, or a spread charge for assets like forex (difference between a buy and sell price).
Our standard commission rate for Singapore share CFDs is a competitive 0.2% with a minimum charge of just $25. For more information, see our Market Leading Rates.
What is the financing rate charged for holding an equity position overnight?
When positions are held overnight, IG Markets will charge a financing fee for the value of the position. The cost of borrowing is based on the relevant interbank rate (eg SIBOR), plus/minus IG Markets' low financing rate of 2.5%. It is plus/minus SIBOR, depending on whether the position is long or short.For more information please see our How Financing Works page.
Are there any hidden charges?
At IG Markets, we are committed to transparency and fair dealing. Therefore we have no hidden charges. There are no administration charges such as margin call fees, tax statement fees, audit fees for disputes or platform fees. You will also not be charged for withdrawing funds, phone dealing or incur any monthly account keeping fees. Please see the full list of our fees on our No Hidden Charges page.
What fees do IG Markets pass on to the client?
- Credit/debit card transfer fees of 2.1%, levied by the card provider
- Live streaming data feed fees are levied by the relevant exchange, which we pass onto the client. This fee is rebated for active clients.There is no charge for delayed data.
- Charting fees will be charged if a client opts to receive RealTime Charts. This charge is rebated to active clients.
For more information please see No Hidden Charges.
What is the cost of DMA?
Active clients can use DMA for free via our PureDMA and L2 Dealer platforms.
What is the cost of Guaranteed Stops?
There is a one-off extra charge, in effect an insurance premium, for this Limited Risk protection. In most cases this is just 0.3% of the underlying transaction value. Limited Risk protection is not available on all shares and the size of the position on which we may be able to offer this facility may be limited. We will be happy to advise you of the facilities available for any particular share.
More about IG Markets
Who is IG Markets?
IG Markets specialises in financial derivatives, principally Contracts for Difference (CFDs) on forex, shares, indices and commodities, all from one account. Clients include brokers, fund managers and trading companies plus private investors.
Originally founded in 1974 as IG Group, a spread betting company in London, the group rapidly expanded its offerings and markets.
In 2006, IG Markets became the one of the first CFD providers in Singapore.
IG Markets is one of the world's leading CFD providers with offices in London, Australia, Tokyo, Milan, Chicago, Dusseldorf, Paris, Madrid and Singapore.
It is part of IG Group Holdings plc, a FTSE 250 company listed on the London Stock Exchange. As of May 2009, the publicly listed company is valued at over SGD3 billion which ranks the group just outside the FTSE100.
IG Group currently employs over 800 people worldwide. www.iggroup.com.html">Read more about IG Group.
Is my money safe with IG Markets?
Yes, when your funds are held by us they are in a separate trust account and are not passed on to any third parties. They cannot, under any circumstances, be passed on to any third parties unless agreed by both you and us in writing. See Strength and Security.