What are the eligibility requirements for obtaining an IG professional account?
If you're able to answer 'yes' to both the following, you may be eligible:
- You have experience trading leveraged products?
- You have net assets A$2.5 million, or you have gross income for each of the last two financial years of at least A$250,000?
What if I’m not eligible for an IG professional account?
If you're not eligible, that's not a problem – you can trade as a retail client with us. You’ll have access to the same powerful platforms and great customer service we offer our retail clients.
What’s the difference between an IG trading account and an IG professional account?
With an IG trading account, you’ll need to hold more margin to cover your positions than a professional account would.
What protections do wholesale clients forego?
As a wholesale client, some of the protections that are afforded to retail clients by the Corporations Act 2001 (Cth) may not be afforded to you. Such protections include (but are not limited to) the issuing of a Product Disclosure Statement, which we would have previously provided to you as a retail client.
Moreover, as a wholesale client, the applicable Future of Financial Advice (FoFA) requirements relating to conflicted remuneration do not apply.
What if I don't already have an IG account?
Before you can apply for a professional account, you will need to first apply for a standard account and then upgrade to a professional account.
Will my level of client money protection change?
Importantly, as a wholesale client, we will continue to segregate your money and assets in the same way as before in accordance with the client money provisions of the Corporations Act 2001 (Cth).
We may assume a level of knowledge and experience when assessing whether our products are appropriate for wholesale clients.