You, the customer, have been introduced to IG via a third party (the ‘Introducer’), whether via their website or otherwise.
The Introducer may also provide you with an execution service, which will be subject to terms agreed between you and the Introducer directly.
Any fee paid to the Introducer by us, whether as your agent or otherwise, that relates in any way to your trading with us, must comply in full with financial services legislation in Australia. In particular, such payments must not be what is termed by the legislation as ‘conflicted remuneration’.
This means we require your express and ongoing consent for any payments we make, to the Introducer or an IG employee, that relate in any way to your trading. If you have any questions about these payments, how they are calculated and paid, or any aspect of these Customer Service Fee (Agency Payment) Terms (the ‘Terms’) please contact us. We want to ensure that you are properly informed about any payments, and we will try to answer your questions clearly and in full.
These Terms, subject to your agreement, are binding on both you and us. They are also intended to explain how such payments may be made, how they impact you and what you are charged by us, where you can find further information on the payments, and any other information relevant to payments made by us as your agent.
Unless advised otherwise by us or your Introducer, you will be charged the rates detailed on our website for CFDs and/or share trading.Unless advised otherwise by us or your Introducer, you will be charged the rates detailed on our website for CFDs and/or share trading.
Subject to your consent, we may pay the Introducer an amount calculated based on the dealing spread or commission that you pay to us (the ‘Introduction Fee’).
Please note, the payment of the Introduction Fee does not impact what you are charged by us. Your trading costs with IG will remain the same whether we are authorised to make this payment as your agent or not.
(Spread |
We may rebate your Introducer an agreed % of our standard dealing spread.
CFDs Say that you buy one standard lot of Australia 200 Cash (A$25 contract) which is trading at 6500/6501. You will pay 0.5 points of spread from the mid-price to open. Therefore the spread payable is A$25 x 0.5 = A$12.50.
If, for example, we have agreed to pay your IB 30% of our standard dealing spreads, this means on the above trade A$3.75 would be shared with your Introducer. |
Commission |
We may share with your Introducer an agreed % of the commissions that you pay us.
CFDs Say that you buy 1,000 CFD shares at A$12. Our standard commission for Australian shares is 0.08%. This means that your opening commission is: 0.08/100 x 1,000 shares x A$12 = A$9.60.
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Funding |
We may share with your Introducer a percentage of the funding that you pay us.
Say that you buy 1,000 Australian CFD shares at A$12.
For a long position you will pay 2.5% above the Bank Bill Swap Rate (BBSW) to hold your position overnight. The calculation is as follows: Daily interest adjustment = size x closing price x (BBSW +/- 2.5%) / 360
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If you have granted the Introducer the authority (via a Power of Attorney) to provide you with execution services, subject to your consent we may pay to them an additional amount on top of the Introduction Fee. This amount would be added to our standard charges and be known as an ’Execution Services Fee’.
Please note that unlike the Introduction Fee, the payment of this amount may impact what you are charged by us. Precise details of the difference between what you would be charged with or without the Execution Services Fee can be obtained from us upon request
In addition, IG may, in certain circumstances, pay its employees commission based on client trading activity.
Please note, the payment of any commission does not impact on what you are charged by us. Your trading costs with IG will remain the same.
As your agent we will not pay any Introduction Fee or Execution Services Fee (collectively called ‘Customer Service Fee’) or commission, without your consent. If any additional charges are imposed upon you in order to pay an Execution Services Fee to which you do not consent, those additional charges will be rebated to you.
If you require further information, or a statement of any Customer Service Fee(s) paid by us as your agent to an Introducer, please contact us and we will try to provide the information you require as soon as possible.
If, at any time while these Terms are in force, you are in breach of any of your payment obligations to us under the Customer Agreement then we may, at our sole discretion, withhold the payment of any Customer Service Fee(s) due and payable to an Introducer until such time as the breach has been remedied and is no longer outstanding.
Please note that these Terms, and your consent to the same, will cover all your IG accounts that are in your name. For example, if you open another account in the same name with IG to trade on a separate trading platform. Your consent to these Terms will not include any joint, corporate or trust account with us that is in the name of an additional party as well as you or a different entity (unless you have consented separately in the name of that account).
In order to pay the Customer Service Fee we also require your consent to share with the Introducer information regarding your account where such disclosure is reasonable. This is also disclosed to you in our Product Disclosure Statement, Privacy Policy and in our Financial Services Guide, all of which are available at https://www.ig.com/au/terms-and-agreements
Please note that the information we provide to an Introducer is limited and we do not disclose personal details that we hold such as your name, address or contact details, unless you have given us express consent to do so or you appoint the Introducer as your (Power of) Attorney.
By agreeing to these Terms you are confirming your consent to the disclosure of your personal information as described here.
If, for any reason and at any time, you wish to withdraw your consent to the payment of Customer Service Fees you are able to terminate your consent to these Terms upon notice in writing to us. Any notice must be provided by email to accountopening.au@ig.com and will be actioned within 5 business days of receipt by us of the notice of termination.
As an IG customer, you and we are bound by the terms of the Margin Trading Customer Agreement in place between us. These Terms are supplemental to the Margin Trading Customer Agreement and nothing in these Terms is intended to vary the same. However, should there be any conflict between these Terms and the Margin Trading Customer Agreement, then, limited strictly to the extent of the inconsistency, these Terms will take precedence.
