IG has announced that it is reducing its margin requirements to just 0.5% on ten major FX pairs.
These lower requirements form part of IG’s Tiered Margining system which works clients’ margin rate based on their aggregate position.
The forex pairs which will require lower margin requirements are -:
The lowest margin rates are available on Tier 1 of the system, which covers up to 70 contracts for major FX pairs. With EUR/USD, for example, this could give clients exposure to the equivalent of €7million for half the previous margin. The development follows new features released by IG Markets which now offers real-time forex charts and live updates from IG’s in-house team of analysts.
IG Markets Dealing App Now Available for iPhone
In a separate news release IG Markets also announced the launch of its new iPhone CFD trading app. The trading application is available free of charge to download from the AppStore, and will offer CFD trading clients a range of facilities including the functionality to check prices on the full range of markets, place orders and trades, view real-time charts and also receive breaking news headlines from Thomson Reuters.
Philip Adler, Managing Director of IG Markets (UK), stated:
‘The popularity of the iPhone has been nothing short of phenomenal. We launched an award winning browser optimised for the handset in 2009, but this latest move means existing and new clients alike can find IG Markets in the AppStore too.’
The iPhone trading platform will allow clients to:
- Place CFD trades on the full IG Markets range of instruments – over 8,000 shares, indices, currencies, commodities and bonds
- Open and close positions
- Edit and delete working orders
- Add stops and limits, including guaranteed stops
- View watchlists
- See open positions at a glance
- View real-time account balances.
In addition to the iPhone, IG Markets also fully supports BlackBerry devices, PDAs and other smartphones, such as those running the Android operating system. The iPhone app is also compatible with Apple’s iPad.