A new share dealing service from IG Group assured a much sharper stock prices and lower currency cost for investors to consider.
Financial spread better IG Group was able to include new share dealings to its online trading platform in a new approach that provides an intelligent pricing and lower foreign exchange fees.
It was launched at the recent weekend and the new service encompasses more than 4,400 stocks with 1,500 U.K. shares which includes all U.K. investment trusts, 2,300 U.S. shares and various exchange funds.
The Chief Executive of the company said claimed that IG’s technology would actually result that traders can now trade a genuinely live share prices and not just make use of them for research and valuations as with similar other brokers.
He further criticised the 15-second delay execution-only brokers that gave customers confirmation of their orders. He further alleged that it enabled them to conceal the fact that share prices they provide were not as good as they ought to be. Moreover, the fact that they are taking too much risk of the price moving against, possibly shows that it isn’t the sharpest price at all.
By contrast, he further said that IG would offer its share prices within a few millli-seconds apart from its prior range.
The company had the broadest platform which allows investors to trade vial all types of leading tablets and smartphones.
Various research shows that people in general put convenience at the top of their priorities when making financial transactions online. But when it comes to trading the stock market, investors are getting very little of anything with the most stock broking platforms using outdated and under-invested technology in providing services to customers and patrons alike.
Although IG Group is not assertively competing on dealing commission, its online fees range anywhere between £6-£12 depending on the amount of monthly trades which is undercutting brokers on their currency charges.
Whereas IG charges are generally fixed at 0.3 % on all overseas trades in order to convert each buy or sell transaction into sterling, Hargreaves Lansdown only provides 0.35 % on deals over and above £350,000 rising to 1.7 % for trades under £10,000. TD Direct’s currency are adding charges at 2 % falling to 0.25 % for trades over £600,000.
The charges are comparable to heinous expenses. Trading on and out of a stock would be anticipative of a gain of 10-15 %, then paying 1.5 % or 2 % for foreign exchange which can add up 4 % which is a considerable bunch of the total return.
Finally, the launch was considered a big move for IG which is best known for its offers in spread betting and CFDs for City professionals and similar other experienced investors. Expanding into retail execution-only broking represents expansion for the company. Furthermore, while there were fewer than 100,000 spread betters in the U.K., active share holders number approximately 750, 00 with the company making pre-tax profits of £194.7 million in 2013/14, up 1.3 % on the year prior.