IG Singapore is seeking to expand its services beyond its established CFD business. Gavin Chia, who recently became CEO, plans to develop the firm into a platform offering multiple types of investment products, The Business Times, Singapore, reported.
IG Targets Multi-Asset Trading Investors
Chia’s immediate focus is on IG Markets, the company’s share-dealing app, which allows trading in equities and ETFs across markets such as the US, UK, Singapore, Hong Kong, and Japan. Chia previously led Moomoo Singapore, another online brokerage.
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He said the firm wants to show investors that it provides more than just CFDs. These derivative instruments let traders speculate on the price movements of shares, commodities, or indices without owning them directly, often using leverage, which increases risk.
IG Adds Cryptocurrencies, Expands Product Offerings
IG is already known for its CFD operations in Singapore. Chia said the firm now seeks to attract a wider range of investors and diversify its product offerings. He described IG Markets as being at an early stage, with plans to gradually add new products, potentially including cryptocurrencies following IG Group’s acquisition of Independent Reserve.
New Daily Options on Tesla Shares Available on IG
IG has introduced daily options on Tesla shares. These contracts expire on the same day, allowing traders to open and close positions within a single trading session.
The product is reportedly the first daily option of its kind for an individual stock worldwide. The options are available Monday to Thursday via spread betting and CFDs on IG’s desktop and mobile platforms.
The launch coincides with the UK government’s “Leeds Reforms,” which aim to increase retail participation in financial markets and support the UK’s development as a global financial centre.
While IG’s Tesla options focus on a US-listed stock, the firm’s “Save Our Stock Market” initiative encourages retail investment in UK-listed companies, aligning with the reforms’ general objectives.
This article was written by Tareq Sikder at www.financemagnates.com.Retail FXRead More
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