The local subsidiary of IG Group remains the leader in Australia, shows the annual report of UK research and analysis company Investment Trends on the country.
The survey was done among 12 000 investors in May 2017.
According to the findings, 35% of those surveyed used IG for the majority of their CFD trading. Second came in CMC Markets. Plus 500, another major CFD and forex broker, climbed to the third spot, displacing Gain Capital’s City Index forex brand.
The only local forex broker in the top 10 is Pepperstone, the data shows.
According to the survey, the number of CFD traders in Australia remains unchanged, with around 37 000 investors placing at least one trade in the past 12 months. At the same time, however, there is a high level of client dormancy.
“High levels of client dormancy are outweighing the industry’s strong client inflows. The 17,000 individuals who stopped trading CFDs in 2017 represented 46 percent of the trader population”, said Dr Irene Guiamatsia, Research Director at Investment Trends. “Australia has one of the highest rates of dormancy relative to other international markets covered by Investment Trends, and this is impeding growth,” added Guiamatsia.
Another recently published Investment Trends study on UK found that IG is also the undisputed CFD leader in its home market.