Customer service fee (agency payment) terms

You, the customer, have been introduced to IG via a third party introducer, whether via their website or otherwise (the “Introducer”).

The Introducer may also provide you with an execution service, the terms of which will be subject to an agreement directly between you and the Introducer.

Background

Financial services legislation in Australia requires any fee paid to the Introducer by us, whether as your agent or otherwise, that relates in any way to your trading with us to comply in full with the legislation. In particular, such payments must not be what is termed by the legislation “conflicted remuneration”.

Accordingly, any payments made by us to the Introducer that relate in any way to your trading with IG must be subject to your express and ongoing consent. 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 do not hesitate to contact us and we will try to answer your questions clearly and in full. We want to ensure that you are properly informed about any payments and invite you to ask us any questions about the same at any time.

These Terms, subject to your agreement, are binding on both you and us and are also intended to explain the manner in which such payments may be made, how they impact on you and what you are charged by us, where further information on the payments made may be obtained and any other information relevant to payments made by us as your agent.

IG's Charges

As an IG customer, you will be charged the rates advised to you in our Product Disclosure Statement on our website or by communication to you of a rates card.

Introduction fee

Because you were introduced to us by an Introducer, subject to your consent, we may pay to them as your agent, an amount calculated based on the dealing spread or commission that you pay to us as part of our charges (the “Introduction Fee”).

Please note, the payment of the Introduction Fee does not impact on 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.

Execution services fee

If you were introduced to us by an Introducer, and you have granted that Introducer the authority (via a Power of Attorney) to provide you with execution services, subject to your consent we may pay to them as your agent 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 will 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. 

Our obligations to you

As your agent we will not pay any Introduction Fee or Execution Services Fee (collectively called “Customer Service Fee”) 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.

Your obligations to us

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.

These terms and your IG account(s)

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). 

Privacy and personal information

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 www.ig.com/au.

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.

Termination

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 is writing to us. Any notice must be provided by email to isd.au@ig.com and will be actioned within 5 business days of receipt by us of the notice of termination. 

IG’s margin trading customer agreement

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.