IG Group launches commission-free ETF trading for ISAs

Mar 1st, 2016 | By | Category: ETF and Index News

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Online trading platform IG Group, is offering a commission-free trading program for clients buying and selling exchange-traded funds for their individual savings accounts (ISAs). The offering, which is available to all new and existing clients who have opened an IG Stocks and Shares ISA account before 30 April 2016, includes over 1,000 eligible ETFs and applies to all trades conducted in both this tax year and the next.

IG Group launches commission-free ETF trading for ISAs

IG Group is seeking to attract savers to its platform by offering commission-free trading for ISAs on over 1,000 ETFs.

Launched in September 2014, IG’s platform does not charge transfer fees, platform fees, or exit fees. It also enables users to view live pricing on over 1,250 ETFs from a wide range of leading providers and covers a diverse mix of equity indices, sectors, fixed income and commodities.

Ian Peacock, Head of UK and Ireland at IG Group, commented, “Savers need to make sure they are making the most of their annual tax-free allowances, without high or hidden fees eroding performance. 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.”

Speaking of the beneficial characteristics of the ETF structure to the private investor, Peacock stated: “ETFs are a transparent, easy, low-cost way for customers to gain exposure to an index, asset class or sector. Many actively managed funds are in essence tracking an index, to provide a return that an ETF could give at a much lower cost. According to ESMA, the European Financial Markets regulator, as many as 15% of funds sold across the EU as expensive actively managed products could, in fact, be classified as closet index huggers.”

 

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