Alternatives to IG Australia
IG Australia is best known for zero-brokerage ASX and US share trading, plus access to CFDs on over 17,000 markets. It uses a custodian model rather than CHESS sponsorship, which means your shares are held in IG's name rather than your own. If you want direct CHESS ownership of your ASX holdings, or if you're after features like dividend reinvestment plans, auto-investing, or options trading on real shares, you might want to look elsewhere. Here are seven alternatives worth considering.
CHESS-sponsored ASX and US trading from $9.50 with auto-invest, DRP, and kids accounts built in.
- ASX brokerage minimum
- $9.5(IG Australia: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(IG Australia: custodian)
CHESS-sponsored ASX from $3 and US from $0.99, plus DRP, auto-invest, and options trading.
- ASX brokerage minimum
- $3(IG Australia: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(IG Australia: custodian)
Custodian-held ASX and US trades from $2 with fractional US shares and auto-invest capability.
- ASX brokerage minimum
- $2(IG Australia: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian
CHESS-sponsored investing from $6.50 with auto-invest, kids accounts, and a community focus.
- ASX brokerage minimum
- $6.5(IG Australia: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(IG Australia: custodian)
CHESS-sponsored ASX from $1 and zero-commission US shares with fractional ownership and options.
- ASX brokerage minimum
- $1(IG Australia: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(IG Australia: custodian)
CHESS-sponsored ASX trading plus commission-free US shares, DRP, auto-invest, and options.
- ASX brokerage minimum
- $11(IG Australia: $0)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess(IG Australia: custodian)
Zero-brokerage ASX trading with auto-invest, ideal for Vanguard ETF and index investors.
- ASX brokerage minimum
- $0
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian
Common questions
Does IG Australia use CHESS sponsorship?
No, IG Australia uses a custodian model. Your ASX shares are held in IG's name rather than your own HIN. If CHESS sponsorship is important to you, look for brokers that offer it, which means you get a personal HIN and direct ownership of your shares.
Can I get dividend reinvestment (DRP) with IG Australia?
No, IG Australia does not offer dividend reinvestment plans. If DRP is a feature you want, you will need to choose a broker that supports it. Many CHESS-sponsored brokers include DRP as a standard feature for ASX holdings.
Are there IG Australia alternatives with auto-invest or dollar-cost averaging?
Yes, several brokers offer auto-invest features that let you set up regular purchases on a schedule. IG Australia does not currently support auto-invest or DCA. Look for platforms that advertise automated investing if this is a priority for you.
What are the main differences between IG Australia and CHESS-sponsored brokers?
The key difference is ownership structure. IG holds your shares in custody, while CHESS-sponsored brokers give you a personal HIN and direct ownership on the ASX register. CHESS sponsorship also typically gives you access to features like DRP and corporate actions handled directly.