An independent study by the Australian CFD market has identified IG as the primary choice for CFD traders, with an estimated 38 % employing IG as their main service provider. This placed IG 20 % ahead of its closest competing company and for the fifth successive year in a row was able to land in the number one spot.
The ranking came at an interval where there has been an increasing interest in foreign exchange. The resulting effect would be a pronounced volatility in the markets around the US, Asia as well as emerging markets with so many traders earnestly searching for new opportunities to trade products that provided for a much advantageous global exposure.
The recently concluded 8th annual CFD Report by Investment Trends, a prominent and leading research agency for FX, CFDs and Online Broking, was able to find that the number of CFD traders in Australia had significantly decreased by 7 % in the past year amounting to just 41,000.
The report not only showed the reasons why IG has the largest proportion of traders by major and primary accounts which was the number one option for new traders, and those switching between passive providers and active providers, citing an 8 % point increase to 34 %.
The report also emphasised the large appetite of Australian traders who had been actively using mobile trading as their primary means to trade which is interestingly considered the most convenient form of trading platform and is interestingly the most preferred mode of as examined by Investment Trends globally.
While the CFD industry is sternly competitive, it is essential that providers are constantly innovating and evolving to provide them the edge they need to build a much more solid and capable brand through consistency and properly addressing the needs in meeting client demands. While there is a command to dominate market position, there is still a need to understand the manner of what it takes to keep growing the market shares by becoming a real specialist in the CFD industry.
The previous year saw additional investments in mobile and applications technology. There was also a launched in the unique insight news and analysis centre wherein each market page is already considered a complete hub in providing unrefined data and expert analysis traders would need in order to make a well-organised and accurate trading decision. In addition, client sentiment data and client positioning for each market can be readily viewed without the added hassle.
Just recently, there was the addition of the MT4 platform in the existing Forex offering, which enables traders to make use of this renowned platform with the full support of this world-leading, secure provider.
IG continues its lobbying for added security of client money, a tedious process which has been actively involved in the past 5 years which is presently considered to be the benchmark for the treatment of funds for all credited and CFD FX providers in the market.
Finally, IG has also placed much significance especially in their efforts in trying to expand institutional and premium client offerings and is also encouraging to see that there has indeed been a significant growth year-on-year in the most active sector of the market.