IG Review

IG

IG

www.ig.com

  • Leverage: 1:30

  • Regulation: FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC

  • Min. Deposit: GBP 250

  • HQ: UK

  • Platforms: MT4, IG Proprietary

  • Found in: 1974

IG Licenses

  • IG Markets Ltd - authorized by FCA (UK) registration no. 195355 
  • IG Index Ltd - authorized by FCA (UK) registration no. 114059 
  • IG Markets Limited - authorized by ASIC (Australia) ABN 84 099 019 851, AFSL 220440
  • IG Bank S.A - authorized by FINMA (Switzerland) 
  • IG Asia Pte Limited - authorized by MAS (Singapore) registration no. 200510021K
  • IG Limited - authorized by DIFC (Dubai) registration no. (F001780)
  • IG Securities Limited - authorized by FSA (Japan)
  •  North American Derivatives Exchange Inc. (Nadex) - authorized by CFTC (US) as regulated exchange

Top 3 Forex Brokers

  1. What is IG?
  2. Awards
  3. Is IG safe or a scam?
  4. Leverage
  5. Fees
  6. Trading Instruments
  7. Account Opening
  8. Deposits and Withdrawals
  9. Trading Platforms
  10. Customer Support
  11. Education
  12. Research
  13. Conclusion

What is IG?

Founded in 1974 as a pioneer company of its kind IG (formally IG Markets ltd) been at industry forefront and actually built the concept of financial spread betting that introduced online dealing as early as in 1998.

Currently, the company featuring global presence and providing trading solutions through offices in 13 countries located in the world’s key financial districts, which enables to reach clients across the world. The broker headquartered in London (UK) and including operations in the USA, Australia, Japan, New Zealand, registered among European countries and Singapore.

IG Group Holding plc is a member of the FTSE 250, the London Stock Exchange with one of the largest market capitalizations of £3.1 billion (31 May 2018).

ProsCons
Founded few decades ago and mainstays on strong establishmentNone
IG is one of the biggest Holding in trading and financial industry
Worldwide presence
Listed in Stock Exchange
Heavily Regulated by the world recognized authorities including FCA, MAS, CFTC, ASIC, FINMA
Numerous industry awards
Tight Spreads and Comprehensive trading proposal for beginning and professionals traders
IG Trading website

10 Points Summary
🏢 HeadquartersUK
🗺️ RegulationFCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC
🖥 PlatformsMT4, IG Proprietary
📉 InstrumentsOver 17,000 markets to trade based on CFDs currency pairs, commodities, indices, stocks, financial spread betting (available in the UK and Ireland)
💰 EUR/USD Spread0.6 pips
🎮 Demo AccountOffered
💳 Minimum depositGBP 250
💰 Base currenciesSeveral base currencies
📚 EducationIG Academy, Free trading courses, webinars
☎ Customer Support24/7

Is IG trading a good broker?

Well, there are many concerns about whether the broker is good or not, mainly it would go to personal preference or choice. However, with our opinion god broker is a reliable broker. Despite a very even very strong establishment of IG, since it operates fore a few decades already, its global coverage and professionalism of the financial business making as clear evidence that IG is a good broker.

Further, in our IG Review you will see more of its proposal details and see yourself that IG offers the most crucial trading conditions at an excellent level including education, costs wise and technology side as well.

Awards

The IG indeed achieved many of the progressive and industry goals while been recognized time and time again for both the services and the technology they provide, as well as the working environment. The broker has so many multiple industry awards, that its just better to mention the most important ones and maybe, few more recognitions received during the last year only at the UK:

Based on revenue excluding FX, IG is the world’s No.1 CFD and financial spread betting retail provider.

  • #1 Overall Broker 2020
  • Best CFD Provider | Best Stocks and Shares ISA Provider 2020
  • Best Finance App | Best Multi Platform Provider | ADVFN 2018, 2019, 2020

IG awards

Is IG safe or scam?

The regulations impose the first topic is the Client’s money protection, therefore funds safeguarded through a range of ways while funds held in segregated accounts at regulated banks, as long as the broker is authorized in a reputable jurisdiction. Besides, a regulated broker means an overseen broker, which is not manipulating trading account or places its clients into a risk, and of course is not a scam.

Also, segregation and regulation mean money is never used for IG’s own business activity and are ring-fenced from the company creditors. Additional rules mandates broker to fall under compensation scheme which will recover clients deposits in case of insolvency, as well as authority regularly oversees the broker in terms of their trustability of the trading providing itself.

ProsCons
Authorized by leading authorities worldwide including Financial Conduct Authority, ASIC, DFSA, CFTCNone
Fully Regulated trading environment
Listed n Sock Exchange
Audited Financial service

Is IG Trading legit?

Yes, IG Trading is a fully legit, regulated and authorized broker with numerous entities around the world where it all respectively operates under a necessary financial license.

The IG group of companies is heavily regulated by the top leading authorities worldwide due to its global presence by the appropriate bodies in the territory it operates. As the principal office of the IG located in the UK, the broker respectively authorized by the Financial Conduct Authority (FCA) regulation, while the stocks and shares ISA accounts provided by IG Markets Ltd and spread betting by registered IG Index Ltd.

In addition, the IG company units regulated by the authorities in a number of countries, and is listed in a Stock Exchange, which gives not only an extra layer of trust but ensures in strong establishment basis. For more details, see the table below, which in conclusion shows us IG as a well-maintained by regulatory authorities’ set of rules firm that sets high trading standards by being fully legit and considered to be a safe broker.

IG licenses

Leverage

Under the regulatory restrictions, which took a recent change in Europe with an ESMA regulation, the residents of Europe will trade with the particular maximum level of leverage, or the multiplier. Another jurisdiction ratios are applicable to IG trading accounts according to the regulation impose limitations respectively and vary from one to another.

Thus, the European resident traders are allowed to use a maximum leverage 1:30, while other entities may see a significant increase up to 1:200 on Forex instruments as Australian authority allows. For more detailed leverages see below the breakdown with an offered leverage to Cryptocurrency, Commodity, Share and Index instruments.

IG leverage

What are IG trading fees?

Another important point to consider within IG Review and generally while selecting a broker is obviously costs you pay to gain trading access.

IG spread breakdown presents according to reference to the minimum of CFD or MT4 account fee (spread) and the Spread Bet minimum size, which also varies under the IG entity you trade with. The fact is that due to regulations and slight differences between the rules, IG entities in jurisdiction or another will offer particular conditions for your trading. Alike spread betting is available only for the UK residents, while Cryptocurrencies not available for trade in Japan at all.

ProsCons
Authorized by leading authorities worldwide including Financial Conduct Authority, ASIC, DFSA, CFTCNone
Fully Regulated trading environment
Listed n Sock Exchange
Audited Financial service

What are the trading fees?

Generally reviewing IG fees, the broker builds its costs into the spread only basis that is based on variable offering, means spread varies on underlying market prices and may increase due to widen market prices.

Spread will be paid on every spread bet or non-share CFD, with the average about 0.6 pips on Forex, and with a commission on every share CFD or share dealing trade executed. Generally, at IG margins are among the lowest in the industry and a very comfortable to use even for the beginning traders, since there are no additional fees.

As we already mentioned, check conditions carefully according to your residence and the IG entity you will be trading, alike some of the examples for particular instruments and its differences in pricing you may see below.

IG spread

Also, it is always good to check other industry offerings and see whether IG is truly good in terms of its fees or not. As you may see below, IG Trading confirms its pleasant fees which is definitely a plus for any trader.

Trading Fees of IG vs Similar Brokers
Asset/ PairIG FeesPlus500 FeesAvaTrade Fees
EUR USD0.6 pips0.6 pips1.3 pips
Crude Oil WTI3 pips2 pips3 pips
Gold302940
BTC/USD650.35%0.75%
Inactivity feeYesYesYes
Fee rankingLowLowAverage

Non trading fees

Lastly, there is an inactivity fee, which will be paid in case your trading account remains inactive for a period of 6 months or longer. This fee may vary from the jurisdiction or another, so you always better check for conditions in case you’re not using your account.

For instance, you can check out and compare general IG fees to another reputable and popular brokerage eToro.

For instance, you can check out and compare IG fees to another reputable brokerage eToro.

Market Instruments

IG offers a great range of products for online trading, within an original offering, while the core on the business Contacts for Difference. While CFD is the derivative contracts the client takes advantage on changes of asset’s price, without owning the asset itself all in all making trading performance a way easier.

What is interesting the IG formed many of industry potential and was the first Australian CFD provider too. Besides the main concept, brokers’ trading offer extends to currency pairs, commodities, indices, stocks, financial spread betting (available in the UK and Ireland) all in all including over 17,000 markets to trade. And, of course, features current trend IG Cryptocurrencies trading through CFD bases as well for pairs on popular bitcoin, ethereum, ripple and many more.

IG Markets

Account Opening

In regards to account opening, IG made it is easy to understand a process, which doesn’t require downloads, just mandates a verification process and traders identification upon your choice of IG entity to trade with and the platform you choose.

Furthermore, IG does not discriminate their clients based on the size of balance, there is only one basic account, which can be settled up into the trade in minutes.

ProsCons
Fast digital account openingMin deposit for various regions varies
Single Account
Easy switch between Demo and Live Account

Demo Account

Also, there’s also no obligation to fund account immediately, firstly account will be as a Demo Account allowing you to trade with virtual € 30,000 and then transfer it to the real trade by putting or deposit of funds.

How to open your account

Singing in for IG trading account isn’t a complicated process, you should simply follow the guided registration and submit your digital application form. Also, IG allows you to verify your account through existing FB or Google accounts, so getting access almost instantly to Demo Account and your trading account management area is truly seamless.

Here are actually the initial steps you should follow in order to obtain an IG account.

  1. Select and Click on IG Sign In page (you may see link above in our IG Review)
  2. Fill your registration personal data (Name, email, phone number, etc.)
  3. Confirm your account through a link received at your email (at this stage you will gain access to Demo Trading already)
  4. Verify your identity and submit documentation for review (may include a residential proof, ID, etc.)
  5. Complete quiz to confirm your trading experience and qualification
  6. Once your account is activated, follow with the money deposit.

IG Account

Deposits and Withdrawals

Another important topic is a money transfer to and from the trading account, while the IG implemented a transparent method to transactions that are passing relatively quickly, you can also choose a best suitable way for you to transfer funds.

ProsCons
Fast digital deposits, including PayPalDeposit and withdrawal options vary in different jurisdictions
0$ first deposit
Withdrawal requests take up to 3 days

What is the Minimum deposit for IG Account?

There is no requirement on a minimum deposit, as well as an additional fee for you to transfer the money. Yet, you should verify with particular jurisdiction deposit conditions, as well as margin requirement for the instruments you’ll be trading in order to cover necessary expenses.

Deposit Options

So a trader can choose the best suitable payment option among available deposit funds according to initiate trading costs and start trading almost instantly. And again verify in case option or another available in your region.

  • major debit/credit cards,
  • bank transfer,
  • using the PayPal system,
  • Skrill or Neteller

IG Deposits

Withdrawals

That’s good news for traders, as the IG company does not charge any commission for money withdrawals. 0$ fee is applicable on minimum withdrawal of 150$, while funds usually arrive at your account within 3-5 business days.

How do I withdraw money from IG?

  1. Select and Click on Withdraw Funds’ at the menu through your account area
  2. Fill in the required data and the withdrawn amount
  3. Choose the withdrawal method available at your region
  4. Complete the electronic withdrawal with requirements
  5. Confirm withdrawal request and Submit
  6. Typically it will be confirmed within 3 days. You may check the current status through your account, as well as allow additional 3-5 days for your payment provider to process the transaction.

Platforms

All IG platforms have been designed for the traders’ convenience with a choice which device to use and almost unlimited capabilities. The broker aimed to create an easy-to-use platform while its technical development would take one of the primary roles, and indeed, IG made its job perfectly. IG platform received many industry rewards and traders compliments for its well-designed core and variety of capabilities.

ProsCons
Great proprietary trading platformNone
MT4 available
User friendly interface
Different versions supporting Web, Desktop and Mobile trading
Clean charts packed with powerful tools
Easy to navigate
Fee Report
Available in various languages Dutch, English, Thai, Arabic, Portuguese etc

Web Trading

A proprietary platform is a web-based trading software which doesn’t require a download, along with trading applications optimized for most smartphones and tablets. The advanced platform features including direct market access (DMA) throughout its NDD connectivity, APIs and possibility to transform it into the Specialist platform with flexible access and professional resources.

Look and feel

What we really like is that the software is simple to use and understand. Once you access a secure login, you’ll see an interface with watch lists and options to manage your account, search, Portfolio settings, Fee reports and statistics, which is very necessary and then to navigate to charts.

Charts are clean and simple as well, intuitively you may find a necessary instrument and manage graphics which is definitely a great plus for beginners, yet professionals ranked platform with its good features as well.

IG Trading Platfrom

Desktop Trading Platform

However, you still can choose the famous MetaTrader4 to execute your orders along with its advanced chartings and tools, in case it is a better option for you. MT4 supporting various versions as well including WebVersion, Desktop Platform and Apps.

Mobile Trading Platform

The mobile trader is a necessary part of the modern trader as well, and IG integrates its platform feature into great Mobile Application where both Android and iOS devices are supported.

Mobile IG trading is almost the same powerful as its regular version, so whether you want to check real-time feeds, copy other traders or to perform any research it is all available. As well, trading apps enable spread bet and CFDs as a simplified process, which provides a great benefit to the trader and leverage advantage.

ProsCons
Customer-friendly layoutStandard login without Face ID option
Powerful capabilities
Supporting Android and iOS devices

Trading tools

Additionally, all IG’s platforms enhanced with 18 free add-ons and indicators, Autochartist, technical analysis tools, and a free VPS for an expert advisor, and range of small detailed settings that enhances trader deal.

Order Types

In addition, as a smart trading process requires effective risk management tools that help to protect capital, IG rewards traders by its widening range of stop and limit orders that keep track of funds easily with an always-visible snapshot of profits and losses. Therefore, all in all, the IG platform and technology indeed one of the best offerings among the industry to use.

IG EurUsd trade

Customer Support

Another reflection of an IG global reach and its popularity is excellent customer support. You absolutely covered by prompt responses to queries in different languages, since the variety of offices truly represents all variety of nationalities and countries.

Also, IG supports Live chats, social media, available on Phone 24h and providing you with reliable and quality answers.

ProsCons
Great Customer handlingNone
Live Chat and Worldwide Phone lines
24/7 customer service
Social media Support and updates
Fast appropriate answers

Education

Another great point of IG as a customer-friendly broker is its professional Interactive education which is performed via IG Academy and offering Free trading courses, webinars and numerous materials. With its truly comprehensive educational materials that enhance trading potential and allows to improve your skills if you already have one and to support you at the first steps, you’ll find it all in order with IG.

ProsCons
Professionally organized IG Academy None
Comprehensive learning materials
Regular Webinars, Live Seminars
Free e-books, Videos, Courses
Contests and interactive quizzes
Demo Account

Actually, IG Academy is one of the important cores in its global offering as also being one of the biggest worldwide companies it invests heavily into the education of the traders and those who are interested in. IG organizes regularly Live Seminars with leading experts in the industry and engaging with multiple quizzes and interactive exercises so traders getting great education.

IG Academy

Research

Despite education, IG provides excellent research tools alongside its comprehensive platform features. You may choose between the research materials provided by IG team, or also get to know premium research from third providers that includes even Real Vision Research.

You will find streaming News, Economic Calendars and video content that is smartly organized according to the category you need, of course, across numerous instruments or asset classes. Also, there are integrated trading signals, AutoTrading capabilities and numerous signals providers which exclusively available for IG Traders. Lastly, IG runs its Blog featuring news releases and deeper analytics outlooks.

ProsCons
Great Research toolsNone
Well organized Forex News, Market Outlook and Analytics by in-house teams and third party providers as well
Numerous Trading signals and ideas available
Trading Blog, Economic Calendar and streaming News
AutoChartist

Conclusion

As a result, the IG group as a large internationally presented broker with its 40 years of experience standing at industry origins, hence is a very reliable, well-organized and regulated broker. There are not many brokers, who can reach the same high standards of operation, as the IG group does.

Competitive IG conditions for trading offer a range of products, the advantage of leverage position to clients’ own perspective, as well as splendid technical, customer and regulation support.

Actually, IG also is quite known for its advanced programs of webinars and online trading courses which performed via IG Academy and heavily enlarging traders’ knowledge.

As we always encourage our readers you should only trade with a safe and secure trading provider or broker, and that’s the rule the traders of different level and expertise should stick on. In particular, IG achievements seem very impressive, along with numerous received awards and thousands of global traders engaging daily that overall define worth of attention towards IG offering.

Alternative forex broker, which you may check too, is Avatrade with a similar offering in terms of strong licenses and trading conditions.

Nevertheless, it is always good to know your personal opinion about IG Markets, which you may share in the comment area below.

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7 responses to “IG”

  1. IG Markets in Australia are criminal. I was a premium client with them until in 2016 they suspended my trading purely because I was profitable. I was profitable trading CFD’s and Binaries. They take the other side of clients so if a client is profitable they aren’t making money (don’t give me the nonsense they make the spread).
    I have since traded profitably for a friend and my mother, but they quickly restricted that trading then suspended it.
    They are a scam if they only take clients who lose money, which is what they do. They are happy to let inexperienced traders lose entire life savings, yet suspend legitimate traders who are using their service for the reason (they claim) to provide it.
    ASIC and the Ombudsman are pathetic, almost corrupt, so it would be helpful to get numbers and form a group to take on these clowns. I can detail and support my claims too. I am not a sour grapes trader who’s lost money.

  2. I agree with MAtt!
    I also am profitable, but they refuse to let me withdraw my funds from my account.
    They are happy to let you deposit and loose, but withdraw is close to impossible.
    I say stay away from IG. Choose another broker, and as soon as possible test to do a withdrawal so you know all is ok.
    IG switzerland is a scam.

  3. I also was considering IG. These reviews here are an eye opener indeed. Many of the forex reviews sites are just glorified IBs making commissions from these referrals.

    We need sites where only actual clients can state their honest experience with these so called “good brokers”. Too many frauds out there even with so called oversight by “regulators”. This means nothing to the client at the end it seems.

    Thank you for sharing your experiences here. I will not use IG.

    Please report them to the authorities if they are doing this. It just is not acceptable.
    Thanks

  4. Thank you so much for those comments, I am looking to start trading, I am searching for a no scam platform and a broker, and that has Europe regulations. Please can someone put the no scam platform?

  5. I have been trading on IG Singapore for almost 10 years. Unfortunately they started to become more disappointing since about 2 years ago. This gives me the feeling that they have shifted their focus onto how to scoop more money from things from their clients, e.g. readjusting the spreads, the interests, etc. instead of growing with clients through better customer support.

    Since the system upgrade, they have been displaying the figures incorrectly on their app – fristly, they are unable to self-examine/test; secondly, half a year after i sent in feedback with screenshots of such display on their app, they are still unable to rectify it.

    Things like this would you make you doubt your confidence in their other capabilities in serving their clients. And such worries are proven. For example, i called their helpline for 3 days and was unable to speak to anyone. I subsequently sent them a number of emails, but received ZERO reply! I then called and texted one of their managers and was told that he felt sorry to hear that but could not do much about it either.

    Some of the configurations on the app are confusing too. Such confusions are like traps that make you make COSTLY mistakes easily.

    In short, IG is deteriorating over the recent years. I was a satisfied client for many years. I am turned away by their poor system upgrade and deteriorated customer support.

    IG fees are certainly on the high side compared to other platforms in the market. If they provide better customer support, I would feel it’s worthy. However, in the past two years, IG has been taking more money from their clients while customer support has been reducing.

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