IG Markets are offering new members the opportunity to earn 10,000 Bonus Qantas points after their first trade. On an ongoing bases, IG offers
- Earn 25 Qantas Points+ every time you buy or sell Australian shares
- Earn 50 Qantas Points+ for every international trade
IG is a UK company, operating an Online trading service in Australia. They have set themselves up as for trading. This suggests that it is more for people who are actively buying and selling, rather than buying and holding onto the shares.
Their operating structure is a little different to other online services you may be familiar with. In particular, the operate a direct custody model. Under the model, the shares are registered in CHESS as broker sponsored stock under the name of Citicorp Nominees Ltd. You are then registered as the ultimate beneficial owner
When trading their fees start from $8 for Australian shares, and $10 for international shares. If you buys and sell then you will incur the fee twice.
Using the Offer
In order to take advantage of the offer, you will need to open a new IG trading account, at the special link. If you open an account from the IG homepage, you may dip out on the bonus points. in order to open a trading account, you will need to be an Australian Resident for tax purposes.
Once the account is open, you will need to deposit some money into your account. The minimum amount seems to be $450 when paying via Paypal or credit card. Direct deposits from a bank account seem to have no particular minimum.
The full terms and conditions are available here.
Keep in mind that there are risks associated with share trading. So make sure that you properly consider whether this product is right for you before you dive in.