August Smashes All Records for IG Markets

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Singapore’s top CFD Provider for customer service, IG Markets, has seen its busiest month yet. Due to volatility across the world’s financial markets, the company saw record numbers for both transaction volumes and revenue. The month also saw a surge in new accounts being opened.

IG Markets, Singapore's number one CFD provider for customer service

Our team quickly responded to changing market conditions, maintaining our trademark excellence in client service. Our online trading platform, PureDeal, also performed very well under the increase in trading volume.

Singapore’s top CFD Provider for customer service, IG Markets, has seen its busiest month yet. Due to volatility across the world’s financial markets, the company saw record numbers for both transaction volumes and revenue. The month also saw a surge in new accounts being opened.

Peter McDermott, Managing Director of IG Markets in Singapore attributed the increased numbers to market volatility. “Globally, IG Group sees its clients make over 5 million transactions in a typical month. On August 9 alone we saw almost 900,000 transactions, with markets on both sides of the Atlantic moving hundreds, or even thousands of points.”

August saw concerns about the Eurozone sovereign-debt crisis rise, an increase of the US debt ceiling to USD14.3 trillion and US credit downgraded from AAA to AA+ by S&P’s. Investors turned to gold as a safe haven, pushing its price to a record USD1,913.50 an ounce, as Wall Street, the FTSE 100 and the Australia 200 traded in ranges between 750 and 2000 points.

CFDs, or contracts for difference, are a useful tool for trading in turbulent times, as traders can go short across a range of CFD markets, including forex, shares, commodities, stocks indices and more. Traders can also take advantage of large price movements by using options spreads and binaries.

Mr McDermott was pleased with how IG Markets performed under these extreme conditions, commenting that “our team quickly responded to changing market conditions, maintaining our trademark excellence in client service. Our online trading platform, PureDeal, also performed very well under the increase in trading volume.”

About IG Markets

IG Markets specialises in providing CFDs, on over 7,000 global share CFDs, along with indices, forex, commodities, options, binaries and more. IG Markets is part of the IG Group, a UK FTSE 250 member with over 130,000 active clients worldwide. For further information please call +65 6390 5118 or visit http://www.igmarkets.com.sg.

Remember that CFDs and forex are leveraged products and can result in losses that exceed your initial deposit. CFD and forex trading may not be suitable for everyone, so please ensure that you fully understand the risks involved. Please consider our Risk Disclosure Statement before you enter into any transaction with us.

  • Investment Trends’ 2010 CFD & FX Report revealed IG Markets scored highest for overall customer satisfaction among Singapore’s CFD traders. The survey of nearly 8,000 investors, also revealed that IG Markets received the highest scores in the CFD industry for value for money, spreads, margin requirements, easy-to-use platform, charting, efficiency of taking trades, email and telephone customer service, reporting of positions and transactions, and phone trading.

IG Markets (ACRA No. 53059621X) is licensed by the MAS and International Enterprise Singapore.

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Jacqui Pretty
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