IAG Account Types & How to Open

When we set out to review IAG Asset Management Limited (IAG), trading under the domain iaglim.com, we expected a fairly standard picture of a young Australian broker. The company was incorporated on 11 July 2022 and holds an Australian Securities and Investments Commission (ASIC) licence for 'Inst Forex Execution (STP)' — licence number 227676. That is a real, verifiable fact, and it places IAG in a category of brokers that offer direct market access through straight-through processing, with no dealing desk intervention.

However, our deeper look into the account offering quickly ran into a wall. IAG's own website, iaglim.com, does not appear to be live or accessible in any meaningful way, and we found no verifiable social-media presence. In practical terms, this means that the specific account types, minimum deposits, spreads, and leverage that IAG might offer are not publicly documented in any source we could trust. We will not invent figures or import numbers from unreliable web results. Instead, we will walk you through what the regulatory record tells us about the likely account structure, and we will be explicit about the gaps.

The ASIC licence held by IAG is for 'Inst Forex Execution (STP)'. In the Australian regulatory context, this is a significant detail. It means that IAG is authorised to provide financial services in relation to foreign exchange contracts, and it must operate as a market maker's opposite: it passes client orders directly to liquidity providers, earning a markup on the spread or a commission rather than trading against the client. This is the classic STP model, and it has direct implications for the account experience.

For traders, an STP broker typically offers variable spreads that reflect live market conditions, with no requotes and no dealer intervention. Execution is usually faster, and there is less conflict of interest between the broker and the client. However, STP brokers often compensate for tighter spreads by charging a commission per lot, or by widening the spread slightly. Without access to IAG's own documentation, we cannot tell you which approach they take. We can only say that, based on the licence, a trader should expect a model that is transparent about execution, but the exact cost structure remains undisclosed.

Most ASIC-licensed STP brokers in Australia offer a familiar ladder of account types: a standard account, a raw or ECN account, and sometimes an Islamic or swap-free account. Given IAG's licence and the typical market practice, it is reasonable to assume that IAG may offer at least a standard account and a raw spread account. The standard account would likely have no commission but a wider spread, while the raw account would have a very tight spread and a per-lot commission. However, we must stress that this is an inference based on industry norms, not on any official IAG disclosure.

We also note that ASIC has imposed strict leverage limits on retail clients since 2021: a maximum of 30:1 for major FX pairs, 20:1 for minors and gold, and 10:1 for other commodities and indices. These limits apply to all ASIC-licensed brokers, including IAG, so any retail client trading with IAG would be subject to these caps. Professional clients, who meet certain asset and experience thresholds, can access higher leverage, but that is a separate classification. In our assessment, a trader opening an account with IAG should expect these standard retail limits, and any claim of higher leverage for retail clients would be a red flag.

One of the most basic questions any trader asks is: 'How much do I need to open an account?' For IAG, we cannot answer that with certainty. The company's website is not accessible, and we found no reliable third-party documentation of a minimum deposit. In the Australian market, minimum deposits for STP accounts typically range from $100 to $500, but we will not guess a specific figure. We advise traders to treat any number they see on an unverified website or forum with caution, as it may not reflect IAG's actual policy.

Funding methods are equally opaque. Australian brokers commonly offer bank transfer, credit/debit cards, and e-wallets such as Skrill or Neteller, but we have no evidence that IAG supports any of these. The absence of a live website is a serious concern: it suggests that the broker may not be actively onboarding new clients, or that it is in a state of transition. In FXCanary's assessment, a trader should not send funds to a broker whose website is down and whose account terms are invisible.

The trading platform is the trader's window to the market, and for IAG we have no verifiable information about which platforms are offered. The industry standard for STP brokers is MetaTrader 4 or MetaTrader 5, and some newer brokers also offer cTrader or a proprietary web platform. Given that IAG was founded in 2022, it is plausible that they would have chosen a modern platform, but we cannot confirm any of this.

We also looked for any mention of a demo account. A demo account is a critical tool for testing a broker's execution and platform without risking real money. Without a live website, we cannot verify whether IAG offers a demo, and we would not recommend relying on any third-party claims. In our view, the absence of a platform disclosure is a major gap in the broker's public profile, and it makes it impossible for a trader to evaluate the trading experience before committing funds.

Assuming IAG is operational, the account opening process would follow the standard ASIC-regulated path. A trader would need to complete an online application, provide proof of identity (such as a passport or driver's licence) and proof of address (such as a utility bill), and undergo a suitability assessment. ASIC requires brokers to assess whether a product is appropriate for the client, so the process may include questions about trading experience and financial situation.

For a corporate entity like IAG, there would also be additional documentation for business accounts, such as company registration documents and director identification. However, we have no direct evidence of IAG's specific KYC procedures. We can only say that, as an ASIC licensee, IAG is legally obliged to follow these steps, and any deviation would be a regulatory breach. In our editorial view, the KYC process is one of the few areas where we can infer a degree of safety, but it does not compensate for the lack of transparency elsewhere.

Our FXCanary Scam Risk Score for IAG is 43 out of 100, which we classify as 'Guarded'. The primary risk flag is the absence of a verifiable website or social-media presence. For a broker that claims to be regulated by ASIC, this is highly unusual. A legitimate broker typically maintains a professional website with detailed product information, legal documents, and contact details. The fact that iaglim.com is not accessible raises serious questions about whether the broker is actively operating, or whether it is a shell entity that has obtained a licence but does not conduct real business.

We also note that IAG has zero employees on record. While this could be a data lag, it is consistent with a company that may not have an active operational team. In the event of a dispute or a withdrawal issue, a trader would have little recourse if the broker is not reachable. We therefore advise extreme caution: do not open an account or deposit funds with IAG until the website is restored and the account terms are clearly published. If you are considering trading with IAG, we recommend that you verify the company's status directly with ASIC and seek independent legal advice.

In summary, IAG holds a valid ASIC licence for STP forex execution, which is a positive sign in terms of regulatory oversight. However, the broker's public profile is almost nonexistent: no website, no social media, no disclosed account terms, and no verifiable platform. This combination of a real licence and an invisible operation is a classic pattern that we have seen in 'zombie' brokers — entities that exist on paper but do not serve clients in any meaningful way.

For the trader, the practical takeaway is simple: until IAG publishes its account types, minimum deposits, spreads, leverage, and platform details on a live website, there is no basis for an informed decision. We would not recommend opening an account with IAG at this time. If the broker becomes more transparent in the future, we will revisit our assessment. For now, the absence of information is itself the most important information we can give you.