IG Group, an online broker, is challenging broker commissions in the UK by offering commission-free dealing in exchange-traded funds (ETFs).
The firm says it is disrupting the traditional online stockbroking market by offering superior technology, coupled with highly competitive and transparent pricing.
IG group’s offer centres on the ISA season, when UK retail investors tend to top up or take out new Investment Savings Accounts.
One thousand ETFs will be eligible under the scheme, giving investors exposure to various equity indices, sectors, fixed income classes and commodities.
In addition to ETFs, IG is also cutting its stockbroking fees. New and existing clients will be able to buy and sell UK shares at £8 (€10) per trade.
“We want to democratise the investment industry by providing people with a transparent, cost-effective way to maximise their investment returns, which is why we are offering investors the chance to trade a wide range of ETFs with no commission or ISA charges,” said Ian Peacock, head of UK and Ireland at IG Group.
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