IG Markets is again Australia’s number one CFD provider* with 29% of active CFD traders choosing us as their main provider, and the closest competitor some 9% behind.
The fifth annual May 2010 CFD Report by Investment Trends Pty Ltd, a specialist market research organisation in the wealth management sector, found:
- IG Markets is the largest provider by primary account for the second year in a row
- Amongst new CFD traders, we are also the main provider of choice
- IG Markets achieved the highest satisfaction scores in the industry for the best trading platform features; best range of trading tools; best range of research tools; and the best reporting of positions and transactions#
- Over one third of all traders who left a provider in the last 12 months are now using IG Markets as their main provider
- Market volatility significantly increases usage of CFDs, with the number of traders up by 22%
Review of the CFD industry
The annual survey found that the number of CFD traders in Australia has grown significantly over the past 12 months. The report attributed the growth to a combination of new traders and a large number of dormant traders returning to the market. CFD trader numbers in Australia were 39,000 as at May 2010, up 22% from 32,000 in 2009, with an additional 25,000 investors indicating they intended to commence trading CFDs within 12 months.
According to the survey, more traders (47%) preferred the Direct Market Access (DMA) model when trading CFDs, pointing out transparency and genuine market pricing as the main reasons for their choice.
Current traders indicated that low commissions and best platform features were the main service aspects they looked for when switching CFD providers. Whereas, for the more frequent CFD trader, 24-hour trading, tight spreads and platform reliability were also given a higher weighting.
IG Markets extends market lead in 2010
Our Chief Executive Officer, Mr Tamas Szabo, believes that our range of trading and research tools, platform reliability and 24 hour service, along with a strong focus on transparency and client money protection have contributed to our number one ranking.
"We have focussed heavily in the last 12 months on giving traders all the tools they need to make informed decisions, whilst offering competitive spreads and maintaining a highly reliable trading platform."
"All-in-all we are thrilled to be viewed by so many traders as their first choice when looking for a CFD provider. The research from Investment Trends backs up the recent slew of awards we have won including Money magazine’s Best CFD Provider 2010, 5 star ratings from CANSTAR CANNEX as an Outstanding Value CFD Provider, and The Bull website’s Best CFD Provider 2010."
* 29% of CFD traders choose IG Markets as their main provider vs. 20% for the next largest provider - Investment Trends May 2010 CFD Report
# Results from Investment Trends May 2010 Australia CFD Report, based on ratings given by 2,600 CFD clients
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