Fresh competition in CFD space

Tuesday 13th October 2009

Another London-based company is arriving on the scene, giving incumbent CMC Markets a run for its money

IG Markets, one of the world's largest providers of CFDs and Forex, has arrived in New Zealand.

"To this point in time, our market research has indicated that there has been a distinct lack of competition within the CFD and FX industry in New Zealand, so we are thrilled to enter the market and give traders greater choice and value," IG Market's chief executive Australia and NZ Tamas Szabo, says.

"Entering this market is a logical next step for IG's expansion in the Asia-Pacific region."

IG Markets offers a direct market access (DMA) platform enabling clients to place orders directly into the world's exchanges. Users are able to see market depth and trade over 7,000 global share CFDs, with share margins from 5%.

"We believe our launch will not only provide more aggressive pricing on CFD markets, it will also offer traders the assurance that they will never experience re-quotes when trading any of our products," Szabo says.

The company is also the first and only provider to offer New Zealand dollar denominated CFDs.

"Investors can avoid costs associated with currency conversions and foreign exchange fluctuations by locking in their exposure in New Zealand dollar terms and thus easily interpret their profit and loss."

The New Zealand business will be run from Melbourne, but it will run education seminars in Auckland, Christchurch and Wellington to coincide with its launch and will also hold regular ongoing seminars throughout New Zealand.

IG Markets is part of the IG Group, a FTSE 250 company.

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