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Account Fee.......?


Guest Derro

Question

Hi guys, Iam  extremely new to share trading and only hold a small portfolio at this stage, and I noticed that IG will be charging a monthly fee now? Will this fee apply to everyone?

If so, I may have to leave the IG platform and move my shares elsewhere, as my amount paid in fees would very quickly outweigh my investments..

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Hi @Derro,  the new fee for Australian accounts won't apply if you have no open positions open at the end of the month or if you have made at least 3 deals during the month. 

You will need to do a bit of basic math to determine whether you would be better off with another firm so consider your average trading frequency, inactivity fees, subscription fees, and comparative commissions charged per trade.

More on IG (Oz) share dealing charges here,

https://www.ig.com/au/share-trading-charges-and-fees

 

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