What is MiFID and how does it affect you?
MiFID is the Markets in Financial Instruments Directive, which came into effect on 1 November 2007 in Europe. It sets out high-level provisions governing the organisational and conduct of business requirements that should apply to regulated firms. IG Markets has a general duty to conduct our business honestly, fairly and professionally and to act in your best interests when executing orders. More specifically, when we are executing orders on your behalf we will provide you with “best execution”.
Best execution
Best execution is determined with regard to price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of an order. As part of being a transparent provider with no hidden charges, we also guarantee that regardless of whether you are trading Direct Market Access or via PureDeal, you always deal at market prices on equities.
IG Markets Limited is incorporated and regulated in the UK and is required to comply with MiFID in that jurisdiction. This also means that Australian clients get the benefits of being covered by this directive, so you can always be assured that you will be given the best execution.