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IG Markets Review
Based on June 2020 figures and on revenue (excluding Forex), IG Markets is the world’s premier CFD and spread betting broker. IG has operated out of the UK since its founding in 1974 and currently serves over 178,000 clients across the globe. It offers four trading platforms from which over 17,000 assets, across eleven categories are available for trade. This broker caters to retail traders, professional clients, and institutional firms. It also offers managed accounts. IG Markets, a component of the FTSE250 (which confirms its fiscal stability), is a signatory of the FX Global Code of Conduct and thus has established itself as a trustworthy brokerage. We were delighted to find during our IG Markets review that this respected broker is one of the only brokerages that can accept traders in the United States, and we were impressed to see that their offerings are highly competitive across the globe.
The UK Financial Conduct Authority (FCA) provides the regulatory framework for IG Markets LTD and IG Index. The Financial Services Compensation Scheme (FSCS) protects deposits up to a maximum of £85,000. As outlined in the Client Assets Sourcebook (CASS), client funds are fully segregated from corporate funds. IG Markets is fully compliant with its regulator and operates as a transparent, trustworthy brokerage.
IG Markets LTD is authorized and fully regulated by the FCA.
This broker derives the majority of its income from spreads and commissions on over 17,000 assets. The EUR/USD displays an average cost of 0.75 pips, pricing it in the middle of the market. Commissions for equity CFDs in the UK and the EU are 0.10% per side, with a £10/€10 minimum, while US charges are $0.02 per share but no less than $15. Trades settled over the phone bear a fee of at least £15/€25/$25.
Guaranteed stop premiums are charged an additional 0.30% fee for equity CFDs, and an additional 1.2 pips mark-up in the EUR/USD. While each asset comes packed with extra charges, to give credit where due, IG Markets is fully transparent about them. Overnight financing costs may be obtained directly from inside the trading platforms. Additional charges include a direct market access (DMA) fee for select assets, costs related to live price data feeds, ProRealTime Charts of £30 per month, an inactivity fee of £12 per month, a £50 account documentation fee (where applicable), and a 0.50% currency conversion fee.
IG Markets properly explains overnight swap charges with examples.
Guaranteed stop premiums carry comparatively excessive mark-ups.
Additional charges may apply, but this broker is transparent about all extra costs.
Per its website, IG Markets does not profit from client losses.
What Can I Trade
Asset selection at IG Markets is excellent, with over 17,000 assets across eleven categories. Pure Forex traders have access to over 80 currency pairs, and 27 commodities provide outstanding diversification opportunities. Eight cryptocurrency pairs and the Crypto 10 Index grant an entry-level introduction to this emerging sector. With over 12,000 equity CFDs and Index CFDs across 26 markets, traders have access to a wide range of trading opportunities. More markets like Bonds, Options, and ETFs complement the outstanding offerings.
The asset selection at IG Markets is outstanding.
Besides core markets, this broker offers a wide range of additional assets.
Most traders will manage their portfolios from the CFD account type. UK-based clients have the option of a tax-free spread betting account. The minimum deposit for either account type is £250 or a currency equivalent. IG Markets additionally offers more traditional non-leveraged products like share dealing, IG Smart Portfolios, ISAs, and SIPPs. The availability of account types is dependent upon geographical location, and traders may request an upgrade to professional status. Leverage differs based on asset and account classification.
CFD accounts are the most widely utilized account type.
IG Markets also offers traditional products to its traders.
IG Markets focuses on its proprietary webtrader, which is also available as a mobile version. It is fully customizable, provides a very clean and informative deal ticket, and comes equipped with an extensive charting package. IG Live, this broker’s streaming market coverage, is available together with analytics, alerts, and signals. Over 86 million trades were executed in 2020 with an average speed of 0.014 seconds. ProRealTime fully integrates with the webtrader and enables professional traders to automate their trading strategies. It facilitates market analysis with over 100 indicators and presents additional custom indicators. IG Markets claims to be the only UK based broker to offer ProRealTime.
This broker also supports the retail favorite MT4 trading platform. It allows full automation of trading strategies, and IG Markets provides a range of add-ons which are generally required to unload the full functionality of this trading platform. Traders may take advantage of 18 unique indicators beside Autochartist. The L2 Dealer handles direct market access (DMA), but it may come at an additional cost for live price feeds. It features improved liquidity and pricing, professional order control, and enhanced trading technology. This broker has done an outstanding job of delivering three distinct trading portals.
The proprietary webtrader is where most traders will manage their portfolios.
The ProRealTime upgrade unlocks more advanced features.
An upgraded MT4 trading platform provides an excellent trading experience.
Traders may use the L2 Dealer for DMA trading.
Transforming the MT4 trading platform into a powerful trading platform is 18 add-ons that were developed by IG Markets. Without the add-ons, the MT4 would otherwise represent a sub-standard offering. Further supporting automated trading is the VPS service provided in partnership with Beeks. The monthly cost of £50 is excessive, however, placing it out of range for most retail traders. IG Markets does offer it at no charge if the trader’s account balance exceeds £5,000.
Adding more value to manual traders is Autochartist, which integrates with the MT4 trading platform. It is an automated chart recognition tool, scanning for trading opportunities, and sending alerts. It assists manual traders in the analytical process, providing them with a broader range of possibilities. IG Markets has gone above and beyond what most other brokers currently provide in order to ensure that its traders operate from a competitive trading environment.
APIs also support advanced trading solutions developed by institutional clients and FinTech companies to connect to IG Market. This broker heavily supports algorithmic trading across all platforms through various applications. Traders who prefer a more traditional approach can take advantage of IG Smart Portfolios, this broker’s managed portfolios.
Over 18 MT4 add-ons transform the trading platform from a sub-standard basic version to a powerful trading portal.
The VPS service provided in partnership with Beeks supports automated trading, but the £50 monthly fee is excessive.
Autochartist assists manual traders in their daily analytics.
IG Markets provides APIs to allow advanced third-party trading solutions to connect and operate in the IG infrastructure.
Algorithmic trading fulfills a critical role at IG Markets.
IG Smart Portfolios leads a range of traditional brokerage services provided.
Research and Education
One of the things that most impressed us during this IG Markets review is the company’s research and educational offerings. IG Markets provides research under its news and trade ideas section. Several articles are published during each trading day, covering relevant topics and offering trade ideas to manual traders. This broker also provides IG trading signals directly from inside the trading platforms, divided into technical and fundamental categories. Trading alerts may also be created and sent via e-mail, SMS, or push notification. Traders can also sign-up for specific subscriptions or download reports. While algorithmic trading and automated solutions are the preferred approaches, IG Markets renders an excellent service to manual traders.
News and trade ideas feature several daily articles relevant to the trading day.
IG trading signals are available directly inside the webtrader.
Trading alerts are distributed via e-mail, SMS, or push notification.
Traders may additionally sign-up for subscriptions or download special reports.
The IG Academy is the primary portal where this broker focuses on education. It features ten courses and live webinars of between 30 minutes and 60 minutes in length. The quality and attention to detail by IG Markets in its educational section is evident. Coverage of financial events and trading podcasts are equally available, giving new traders more working examples of how financial markets function. A multitude of articles discussing the most critical aspects of trading complements the IG Academy and its outstanding educational service, allowing new traders to enhance their knowledge base before managing their own portfolios in live markets.
New traders have access to a great approach to education at the IG Academy.
Podcasts further enhance the quality of auxiliary trading services provided.
Clients have access to customer support 24/5 and may either call directly, send an e-mail, or use the webform. An extensive FAQ section answers the most basic questions, while an online forum is equally available. IG Markets is a well-managed brokerage where customer support is unlikely to be required but is easily accessible if an unexpected situation arises.
Bonuses and Promotions
IG Markets does not provide bonuses or offer special promotions.
Opening an Account
An online application handles new account openings swiftly. New accounts require verification per regulatory requirements. A copy of the trader’s ID, together with a proof of residency document, will satisfy AML/KYC requirements. The online form needs only a few minutes to complete and represents the standard operating procedure.
Deposits and Withdrawals
Deposit and withdrawal options at IG Markets are limited to bank wires, credit/debit cards, and PayPal. The minimum deposit is £250 or a currency equivalent. While this broker does not levy charges for deposits and withdrawals, third-party fees are generally applicable. A limit of £20,000 every 24 hours is in place for card transactions. For security purposes, IG Markets may ask clients to verify their accounts and source of income. The name on the trading account must match that of the payment processor. This area, with only limited alternatives to funding, represents one of only a few weaknesses at IG Markets.
IG.com Review: The Original CFD Broker Rated 
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Last Updated on October 21, 2020
Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail trader accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money
IG is one of the leading online brokerage firms and a subsidiary of public company IG Group Plc. Since 1974, IG has been offering innovative products to the retail trading community. The London-based firm is a leader in offering Contracts for Difference (CFDs) on a wide variety of assets including forex, indices, shares, commodities, cryptocurrencies, options, interest rates, bonds and more. CFDs are derivative securities that allow customers to gain exposure to the price of financial instruments without actually holding the instruments in their accounts.
IG has received multiple awards from industry watchers for its platforms and services:
- 2020 – Best CFD Provider – Shares Awards 2020
- 2020 – Best Spread Betting Provider – Online Personal Wealth Awards
- 2020 – Best Stocks and Shares ISA Provider – Online Personal Wealth Awards
- 2020 – Best Multi-Platform Provider – ADVFN International Financial Awards
- 2020 – Best Finance App – ADVFN International Financial Awards
Traders looking for an established provider of forex and CFDs trading with a 40-year track record and a worldwide presence may want to investigate IG. Please remember that trading CFDs exposes traders to the possibility of losses.
This IG review will give readers a thorough overview of the broker’s services and discuss its major strengths and weaknesses.
Why Choose IG Index?
|What’s Good About IG Index?||What Could IG Index Do Better?|
IG Index – Essential Information
Australian Securities & Investments Commission (ASIC)
Monetary Authority of Singapore (MAS)
Financial Service Providers Register (FSPR)
History of IG
Stuart Wheeler founded IG Index in 1974 in response to the collapse of the Bretton Woods agreement and the free floating of currencies. The firm, which started with three employees, began by offering spread betting on gold, but soon expanded to other commodities and currencies.
IG has introduced numerous innovations in the brokerage industry since its founding. In 1998, IG established the first online dealing platform for spread betting, and in 2020, the broker developed the first trading app for Apple Watch. In 2020, IG delivered a new customizable platform designed to appeal to both new and experienced traders.
IG opened its first overseas office in Melbourne, Australia, in 2002 and launched a Swiss bank in Geneva in 2020 and in Zurich in 2020. The broker opened a Dubai (UAE) office in 2020 and recently obtained a license to open a Shanghai, China, office.
IG Group has its headquarters in the City Of London, United Kingdom and sales offices in 13 other countries. The company serves over 195,000 clients worldwide in over 150 markets.
IG is regulated in all of the jurisdictions in which it operates including the following:
- The Financial Conduct Authority (FCA) in the United Kingdom: Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorized and regulated by the Financial Conduct Authority. The MiFID Directive provides a passport, which allows IG to operate throughout the European Union.
- IG is authorized and regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services (“AFS”) license (Number 220440).
- IG Asia Pte Ltd (Co. Reg. No. 200510021K) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in securities and leveraged foreign exchange trading and is an exempt financial adviser. It is also licensed by International Enterprise Singapore to trade CFDs on commodities.
- IG Markets Limited holds a Financial Service Providers Register (“FSPR”) derivatives license in New Zealand (FSP No. 18923).
- IG US LLC has an FX US License from the NFA.
IG offers customer support 24 hours a day from 8 AM Saturday to 10 PM Friday. Customers can contact the company in multiple languages by toll-free phone, email, Twitter or live chat. The website is available in English, Chinese, French, German, Italian, Japanese, Portuguese, Russian, Spanish and Swedish.
Where Does IG Operate?
IG operates globally across five continents. The major countries served include:
Bulgaria, Denmark, Finland, Ireland, Hungary, Norway, Switzerland, UK, Croatia, Germany, France, Italy, Lithuania, Austria, Slovakia, Cyprus, Estonia, Greece, Latvia, Malta, Portugal, Slovenia, Czech Republic, Spain, Iceland, Luxembourg, Netherlands, Romania and Sweden
Australia, China, Japan, Singapore
Africa / Middle East
South Africa, United Arab Emirates
IG offers different products for trading in different countries, so traders should check with customer service when opening an account to confirm what products are available in their country.
Important: Traders in the United States cannot trade CFDs or spread bet via IG, but can trade through NADEX, a US subsidiary of IG Group.
Languages: English, Chinese, French, German, Italian, Japanese, Portuguese, Russian, Spanish and Swedish.
Is IG Safe?
IG offers a safe and regulated environment for trading financial instruments. The company has been in business for over 40 years.
As a global operator, IG receives regulatory oversight from many agencies.
Each company within the IG Group is subject to regulation by the appropriate bodies in the territory where it operates.
IG also must adhere to regulation and legislation relating to technology, the provision of internet services and use of the internet.
Major Regulatory Agencies Governing IG
The Financial Conduct Authority (FCA) regulates the firm in the UK, while the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union. The firm’s Australian operations fall under the regulatory auspices of the Australian Securities and Investment Commission (ASIC). In addition, IG is regulated and authorized to operate in Singapore by the Monetary Authority of Singapore (MAS) and in New Zealand under a license by the Financial Service Providers Register (FSPR).
|Regulator||Countries Covered||Protection Offered||Additional Protection Offered|
|Financial Conduct Authority (FCA)||Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK.||All client funds are held in a segregated client bank account||Financial Services Compensation Scheme (FSCS) may cover up to £50,000 if IG Index fails.|
|Australian Securities and Investments Commission (ASIC)||Australia, New Zealand and South Africa||All client funds are held in a segregated client bank account|
|Monetary Authority of Singapore (MAS)||Singapore||All retail client money is held in segregated client bank accounts in accordance with Singapore’s Securities & Futures Act (SFA)|
Financial Conduct Authority
The UK’s Financial Conduct Agency (FCA) regulates IG activities in the UK.
The FCA is widely respected as a leader in financial regulation. In addition, the UK scores highly in Transparency International‘s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption. IG customers in the UK are protected by the UK based scheme Financial Services Compensation Scheme (FSCS), which was established to protect consumers when authorized financial services firms fail. FSCS pays compensation up to £50k to customers in the UK if IG is unable to pay.
Australian Securities and Investments Commission
The Australian Securities and Investments Commission (ASIC) covers IG’s activities in Australia, New Zealand and South Africa.
ASIC’s oversight of IG means that client money is held in a trust and completely separate from the firm’s own money. Unlike other jurisdictions, however, if you are based in Australia or South Africa, there is no additional compensation scheme in place to cover your deposit. That doesn’t mean it isn’t safe to deposit with IG if you’re in Australia or South Africa. Rather, you are offered only the legal protection afforded by the Australian legal system. That being said, money held in trust in Australia is highly regulated and covered by the Corporations Act.
Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) authorizes and regulates IG in Singapore.
IG ensures that all customer funds on deposit with the firm are held in segregated trust accounts with banks licensed in Singapore under the Singapore Banking Act. IG operates in accordance with the segregation requirements under the Singapore’s Securities & Futures Act (SFA). The firm does not use client money to hedge its positions or to meet the trading obligations of other customers.
IG has similar regulatory oversight in the other regions where it operates. The firm has been in business since 1974 and has a reputation as a professional trading firm. Shares of IG’s parent company, IG Group plc, are publicly traded on the London Stock Exchange. As a public company, IG Group must make full disclosures about its financial health.
IG at the London Stock Exchange – Image via the London Stock Exchange Group
Who Runs IG?
IG Group plc, the company that owns IG, is a publicly held company. The board of directors consists of six non-executive board members and two executive members. Two key executives help manage the operations of the brokerage firm.
Key IG Group Executives
|June Felix |
He joined IG from Tullett Prebon plc where he served as Finance Director from 2006 to 2020. He previously served as Group Finance Director of Mowlem plc and TDG plc.
He earned an MBA from Cranfield School of Management in 1991.
IG Trading Products
IG offers customers CFD trading in dozens of different categories of products in over 150,000 markets.
Customers can place trades in cash indices, futures indices, indices denominated in GBP and micro indices, which have smaller contract sizes. The most popular stock indices include the following:
- FTSE 100
- Wall Street
- US 500
- Germany 30
- Hong Kong HS50
- Japan 225
- US Tech 100
- Russell 2000
- Mexico 35
- Brazil 60
- EU Stocks 50
- France 40
- Italy 40
- Netherlands 25
- Norway 25
- Portugal 20
- Spain 35
- Sweden 30
- Switzerland Blue Chip
- Belgium 20
- FTSE Mid 250
- FTSE Techmark
- Germany Mid-Cap 50
- Germany Tech 30
- Hungary 12
- Greece 25
- Australia 200
- China 300
- China A50
- China H-Shares
- Singapore Blue Chip
- South Africa 40
- India 50
- Taiwan Index
Customers can trade more than 8,000 international shares CFDs. Traders receive the dividends for share CFDs that are long. In addition, traders have the ability to short shares in many cases. Popular categories include UK, US and Eurozone shares.
IG customers can trade dozens of CFD currency pairs. The most popular markets include EUR/USD, AUD/USD, GBP/USD and USD/JPY. Here is a complete list of forex products traders can trade on the platform:
BRL – Brazilian real
CNH – Chinese renminbi (yuan) – offshore
IDR – Indonesian rupiah
INR – Indian rupee
KRW – South Korean won
MYR – Malaysian ringgit
PHP – Philippine peso
RUB – Russian rouble
TWD – Taiwan dollar
IG customers can place trades via CFDs on the following commodities groups:
- Oil – US Crude
- Oil – Brent Crude
- Heating Oil
- No Lead Gasoline
- Natural Gas
- Cattle (feeder)
- Cattle (live)
- Cocoa (London)
- Cocoa (US)
- Coffee Arabica
- Coffee Robusta
- Lean Hogs
- Milling Wheat
- Orange Juice
- Rough Rice
- Soya Beans
- Soya Bean Meal
- Soya Bean Oil
- Sugar No. 5
- Sugar No. 11
- Wheat (Chicago)
- Wheat (London)
5) Other Products
Digital 100s – Binary (yes or no) volatility bets on different markets
Options – Traders can buy or sell CFDs on options on indices, commodities and currencies.
IPOs – Traders can speculate on prices of companies that are about to go public
Interest Rates – Traders can take positions on the future short-term direction of a variety of different global interest rates
Bonds – Traders can speculate on the prices of a variety of different government bonds
Sectors – Traders can speculate on strength or weakness in a particular sector. IG offers 35 UK and Australian sectors including banking, mining and retailing.
ETP (Exchange Traded Products) – Traders can buy or sell CFDs on instruments that track another investment instrument such as commodities, currencies, share prices or interest rates
Cryptocurrencies – Traders can buy and sell CFDs on bitcoin, ethereum, ripple and litecoin.
In addition to CFDs, IG also offers spread betting on a variety of products. Spread betting is similar to CFDs, but instead of a standard contract size, traders can choose the amount they wager for each incremental move in the underlying. Spread betting is tax-free to UK residents.
IG Account Types
IG customers choose an account based on the type of instruments they intend to trade. Traders can open a CFD trading account, spread betting account or share dealing account. A share dealing account allows traders to buy and sell the actual shares of companies without using CFDs. Traders who want to trade all of these instruments can open an account that combines all three.
|IG Spread Betting||IG CFD Trading||IG Share Dealing|
||Traders can buy and sell thousands of global shares and ETFs.|
Traders can open a live account with a deposit of $200 and have leverage of from 30:1 to 2:1 (these vary depending on the volatility of the underlying instrument, e.g. cryptocurrencies are 2:1 while major currency pairs are 30:1).
All traders can also open a free demo account to enter practice trades. Demo accounts begin with £10,000 in virtual funds and allow traders to test strategies both on a desktop platform and with free IG mobile apps.
IG Spreads and Fees
IG traders pay a spread on every spread bet or non-share CFD. Traders pay commissions on every share CFD and also on share trades. The minimum spreads and margin rates for some of the most popular products are detailed below.
The spreads for many products depend on the time of day of the trade is placed. Traders should consult the IG website for specific details.
Popular CFD Markets
|Number of individual markets||Minimum spread||Margin rates from|
Other relevant fee information:
Deposit Fees: European debit cards incur no fees, but credit card, PayPal and non-European debit card transfers incur a 1.5% transfer fee. PayPal funding also incurs a 1.5% transfer fee.
Withdrawal Fees: IG does not charge withdrawal fees in most cases; however, customers that want to receive same day payment using a CHAPS bank transfer incur a £15 fee.
Back to Base/Currency Conversion Charge: IG charges commercially reasonable rates for converting CFD and forex trades back to your base currency.
Guaranteed Stop Orders: Traders who want to guarantee that their position closes at a specified price pay wider IG spreads to execute those trades
Overnight Financing Charges: This overnight fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a certain period of time. Traders can obtain information on overnight funding rates at the Fees and Charges section of the IG website.
Information on Other Services and Fees:
|Direct Market Access||No charge, but live DMA pricing may incur fees (see below)|
|Live Feeds||Obtaining live share prices from an exchange, whether that’s to trade share CFDs or buy and sell shares via a share dealing account incurs a monthly fee.|
|Pro Real Time Charts||£30 per month|
|Inactivity Fee||£12 per month if no dealing activity has occurred for two years or more|
|Account Documentation Fee||£50 for accounts that have not supplied a mandatory W-8 or W-9 form prior to ex-dividend date on a US-incorporated stock. Only applies to accounts entering into these trades.|
After you click the green Create Account button the website, IG asks you a few questions:
- Your personal details
- Which products you want to trade in your account (spread betting, CFDs or shares)
- Your financial status
- Your trading experience
During the account opening process, traders can choose whether they want a CFD account, a spread betting account or a share account.
IG doesn’t require specific prior trading criteria to open an account. However, traders must answer some questions to demonstrate that they understand the trading products and the risks associated with them.
After completing this information, traders are asked to submit additional information to verify their identity. Traders can choose from one of the following three options:
- Two government-issued photo IDs
- One government-issued photo ID and one utility bill or bank statement
Traders with IG can choose from one of three options for funding their accounts:
|Manual Transfer of Funds||Free||
|European Debit Card||Free||£100 minimum and funds are available immediately|
|PayPal||1.5%||Funds available immediately|
|Non-European Debit Card||1.5%|
IG margin requirement allows traders to trade on margin of up to 1:30 on some products. However, traders who use excessive leverage on trades risk getting margin calls and having their positions prematurely closed. IG notifies traders when they fall below the IG margin requirements. Traders whose equity falls below 99% of the required margin receive an email notification. Traders receive a second email when equity falls below 75% of the IG margin requirements. IG will start automatically closing a trader’s position if the equity falls below 50% of the required margin.
The minimum withdrawal amount on an IG account is £100 or the available account balance, whichever is lower.
Withdrawals are free of charge unless you require a CHAPS payment, in which case there is a £15 charge.
For compliance purposes, IG must transfer your funds back to the original source you used to fund your account. This account needs to be in the same name as the account maintained with IG.
Generally, bank withdrawals should arrive within 24 hours. If you request a withdrawal before midday, funds should be with you on the afternoon of the day you withdrew between 2 pm and 6 pm (UK time).
If you’re refunding funds to your card, it’ll take your card issuer 2-5 working days to credit these back to your bank account.
IG Platform Review
The IG platform packs a lot of information and analytical capability on to its main trading screen. The window contains several panels, which gives the page a crowded look. However, once traders familiarize themselves with the functionality on this page, the platform’s ease of use and logical design become apparent.
The main page contains panels with search functions, instrument prices, trading positions, charts, trading tickets, watch lists and alerts. Traders can drag, drop and resize these panels to customize their trading experience.
Finder: The finder panel in the upper left is the tool traders will use most to locate new instruments to trade:
Traders can navigate through the list of instruments by clicking on the plus symbol next to each item or they can enter the name of an instrument in the text box at the top of this window. This feature is a nice benefit. Many other systems have one or the other of these ways to search, but not both.
Watchlists: This section allows traders to customize multiple watchlists for tracking markets or trade ideas. Traders can customize each list, give it a name, and keep a separate window open for it.
Trade Ticket: The IG trade ticket allows traders to quickly and easily send orders into the marketplace. At the same time, the system allows more advanced traders to enter orders with various contingencies. Traders can choose whether they want to send a market or a limit order. They can also choose whether they want the order to be good till canceled (GTC) or whether they want to set a time for the order to expire. Traders can also decide what closing conditions they want placed with the order such as stop/loss contingencies.
In total, traders can choose from five types of orders: limit orders, market orders, stop loss orders, trailing stop orders and guaranteed orders. Guaranteed stop orders ensure that a trader’s order will be filled at the stop price.
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One limiting factors with the IG trading ticket is how the system handles trailing stop orders. Traders must decide when they configure their settings whether or not they want to apply them to all of their orders. In other words, every order gets a trailing stop or no orders get one. With more volatile instruments, traders may end up taking profits on positions they would rather hold.
Another problem with the IG trading ticket is its configuration with two tabs – “Deal” and “Order to open.” Traders entering market orders must use the deal tab, while limit orders need to be entered on the order to open tab. This creates unnecessary confusion that the platform designers should have avoided.
The trade ticket also shows the margin required for the trade.
The IG platform offers customers sophisticated order execution tools. Traders can choose to get partial fills on orders, which increase the probability of successfully executing trades. Traders can also choose a “price through current” option, which allows them to pay successively higher prices (up to a predetermined limit) to increase the chances of being filled.
Traders also have the option with some securities of receiving direct market access. This feature enables customers to buy CFDs with pricing based on the underlying security rather than IG pricing. Traders choosing this option will tick the DMA box on the trading ticket.
Charts: Traders who like technical analysis may enjoy many of the charting features of the IG platform. Traders can draw charts with a variety of different technical indicators including Bollinger bands, moving averages, pivot points and candlesticks. Traders can name these charts, save them and pull them up as needed.
The charting tools have little icons next to each of the technical tools. These pictures are a great way for novice traders to see what each of the functions does before drawing a chart.
One negative of the IG platform is that traders who choose multiple accounts (for example, a share and a CFD account) can only see one account at a time. This makes coordinating and hedging between these accounts more difficult. All in all, however, the IG platform is a reliable and easy-to-use tool for active traders.
IG Education Resources
IG offers an extensive library of educational tools on its website. Traders can choose from videos and reading materials on topics including leverage, risk management, markets, and basic trading terminology among others.
The “Learn to Trade” section of the website covers a comprehensive list of trading topics:
IG also offers live webinars to traders of all experience levels and styles of trading:
Traders also have access to the following resources:
- Introduction Program: This program, which is geared toward novices, allows traders to bet with reduced sizes for the first two weeks after they open an account. The program also provides traders with free educational modules on a variety of topics.
- Monthly Newsletter: Contains latest news and features from IG.
- Spread Betting – A Guide for Share Traders: This free three-part E-book is an in-depth guide to spread betting.
- Glossary of Trading Terms
- IG Academy App: a mobile educational tool.
Traders can also download a free demo account to practice trading. The demo account looks identical to the live trading account except it says Demo on the top of the page. Traders start with £10,000 in virtual funds.
IG Sign-Up Bonuses and Promotions
There are no IG bonuses and promotions for traders opening accounts.
The lack of sign-up bonuses are due to new legislation that’s been introduced in the EU. The Markets in Financial Instruments Directive (MiFID) has been implemented to provide traders with greater protection through a more transparent market. Therefore, any broker offering sign-up bonuses are either unregulated in the EU or aren’t regulated at all, which could mean they’re operating illegally.
Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail trader accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
IG offers an excellent fit for both small traders and market professionals
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- Account Minimum: $0
- Fees: Minimum of 0.6 pips for EUR/USD
- Bestfor: Forex Trading
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
IG Group was founded in 1974 and is currently ranked as the world’s top CFD provider. Their extensive product catalog and competitive fees aren’t surprising, given longstanding business operations and an excellent industry reputation. IG recently entered the U.S. market and will be competing with two other major players that are already solidly entrenched in the U.S.
IG currently ranks in the following category:
A well organized and easy-to-navigate website contains fully disclosed services and fees, unlike competitors who often hide the bad stuff in fine print. The broker is working hard to upgrade qualified retail clients to a professional designation that allows higher leverage and direct market access (DMA) to the forex interbank system.
Industry standard MetaTrader 4 (Windows and Mac)
Guaranteed stop losses
Thousands of markets
May incur exchange and subscription fees
Dormant account fees
Retail clients can’t trade forex on interbank
No copy/social trading platform
The broker is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia. U.K. traders have broker default protection up to GBP 50,000 through Financial Services Compensation Scheme (FSCS) but no additional insurance coverage is provided. Site encryption is average.
Client funds are segregated from company funds, reducing the potential for misuse, but the fine print says they can hold funds outside local jurisdictions, increasing risk in case of a bank default. They operate a counterparty dealing desk, raising conflict of interest issues, but higher-end clients can trade directly with the interbank system through a dedicated platform. They provide guaranteed stop-losses for an additional fee while negative balance protection is now mandated under ESMA rules.
IG offers an excellent variety of platform choices and API interfaces, starting with the industry standard MetaTrader 4. No MetaTrader 5 is available but clients can upgrade to the ProRealTime advanced charting platform for free as long as they meet modest monthly trading activity requirements. The web-based IG Trading platform features basic risk management tools, including price alerts and stop-losses. It also streams Reuters news and ProRealTime charts, including the ability to split charts into multiple time frames.
Higher-end clients can attach their own software or a Bloomberg terminal through a well-developed API interface. They can also trade CFD shares and forex through L2 Dealer, which provides direct market access (DMA) that bypasses IG’s dealing desk. Forex Direct service on that platform requires that clients have professional designation under ESMA rules. There’s no additional charge for this service other than exchange fees.
IG provides homegrown mobile apps for iOS and Android that can also be loaded on tablets. Basic features include customized watchlists, price alerts, and technical charting. The indicator list is comprehensive but omitted from the menu structure, reducing accessibility. The Trade menu lacks sophisticated conditional orders but clients can place trailing and guaranteed stop-losses. A useful signals “menu” features third-party buy and sell signals. All apps lack customization but they offer Face ID and Touch ID security and are more advanced than the industry standard MT 4 mobile.
Research Tools and Insights
IG operates the DailyFX.com website, providing comprehensive news, research, and an educational portal with in-house analysts and hundreds of market topics that include intermediate technical and fundamental analysis. Real-time news is produced in-house and covers major currency pairs. Multiple live webinars build trading skills, highlight key events, and identify news catalysts. A Trading Strategies section presents short-term buy and sell signals, analyst picks, pivot points, and a host of technical data.
The DailyFX Forex University is impressive, with course-based materials covering a comprehensive variety of forex and technical topics. The IG site has its own educational resources through IG Academy, covering CFDs and spread betting in addition to forex trading. The material is broader in nature but equally useful, with segmentation between beginner, intermediate, and advanced topics. Clients can also access courses and articles through the handy IG Academy mobile app. It’s odd that broker site integration with DailyFX.com is poor—except for the live seminar section, and it’s possible that prospective clients won’t realize this excellent resource exists.
The IG Community site has active forums and numerous trade picks through forum entries and blog posts. @IGSquawk on Twitter contains over 18 thousand tweets from IG dealers sharing news and client sentiment. There’s no dedicated or third-party social platform, unlike many competitors, and the broker site contains no client positioning data for CFDs, forex, or spread bets. However, IG Client Sentiment at DailyFX.Com provides useful forex positioning data, updated in real-time. It would be beneficial to clients if this information was integrated into the broker site.
Guaranteed stop-losses are available for most markets, lowering catastrophic risk, but the order requires a modest fee in addition to spreads and/or commissions. The broker also offers a variety of professional and institutional services, well above the industry average. Professionals will appreciate direct market access (DMA) that bypasses the dealing desk while accounts at all levels can invest for the long term through IG Smart Portfolios, an account basket that includes savings and retirement programs as well as low-fee ETFs.
IG has built a comprehensive catalog of shares, currency pairs, indices, and commodities. Fees for CFDs and spread bets are identical in most cases, but there are exceptions. Futures and options are available on many instruments and clients will never have a problem finding something to trade. Coverage includes exotic and minor currency pairs while many commodities can be traded through spot markets or futures contracts. Differences between CFDs and spread betting, including tax implications, are clearly documented.
£250 is the minimum account deposit. They offer an aggressive rebate program for large forex volume as well as volume discounts for U.K. share traders. Margin and overnight lending rates are competitive. Accounts get charged steep monthly fees after two years of inactivity. The broker offers no fixed spreads or trading account tiers through the main site, other than retail vs. professional designation, but IG Smart Portfolios and a dedicated institutional site round out an impressive account listing.
They now offer six cryptocurrencies, traded as spread bets or CFDs, but Bitcoin’s high 40-point spread could deter potential clients.
Commissions and Fees
Commissions, spreads, and fees are very competitive, with the EUR/USD average spread at 0.75 pips. They charge higher spreads on shares and indices during off-market hours and placing trades in those dead periods can be expensive. For example, the fee for a U.S. 500 spread bet rises from 0.4 points during U.S. market hours to 0.9 points after the CME and NYSE close. This is partially offset by a minor 0.4 point guaranteed stop-loss premium that doesn’t fluctuate during the market day.
IG customer service is available through a toll-free (U.K.) phone number from 8 a.m. Saturday to 10 p.m. Friday. Both prospective and active clients can talk to a company representative through live chat that’s available 24 hours per day. Three random contacts with this service were promptly answered. Email, social media, and a comprehensive FAQ round out above average contact options. If all else fails, a well-documented customer complaint procedure should assist in grievance resolution.
What You Need to Know
IG offers an excellent fit for both small traders and market professionals, with competitive spreads, thousands of trading instruments, and a state-of-the-art news, research, and educational portal. Clients can choose from an impressive variety of platform choices and easily upgrade as their accounts build equity. Despite major positives, client profitability rates need to be watched because recent data places the broker slightly below industry average.
Those interested in forex trading can find an excellent solution with IG. See how they compare against other online brokers we reviewed.
Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.
In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.
Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.
Обзор форекс-брокера IG Markets и отзывы клиентов
IG Markets — достаточно известный на сегодня CFD- и форекс-брокер. Несмотря на большое количество негативных отзывов на постсоветском рынке, он находит способы привлечь доверчивых трейдеров. Что же обещает ig.com своим клиентам и насколько честно выполняет предложенные условия? Чтобы выяснить это, мы провели подробный анализ и обзор компании, а также изучили отзывы трейдеров, которые попались на заманчивые предложения.
Что известно о брокере IG Markets?
Брокер IG Markets работает по франшизе одноименной группы-холдинга. Структура весьма стара по биржевым меркам, основана еще в 1974 году. Однако возраст — это не индикатор надежности. К примеру, крупнейший банк Lehman Brothers существовал почти полтора века, прежде чем стать триггером краха деривативов в США.
Сейчас IG Markets занимается деривативами, выдавая контракты на разницу по индексам и акциям. Форекс — очень побочная часть бизнеса, что заметно. Брокер предлагает немало коммодитиз, которые также не считаются чем-то особо профитным, о чем не забывают упомянуть в своих отзывах трейдеры.
Трейдить с брокером могут клиенты из очень многих стран мира. Однако доступ запрещен канадцам и бельгийцам.
В ходе обзора выяснилось, что для счета в IG Markets нужно исключительно наличие электронной почты либо факса. Для физических лиц есть ограничение на два аккаунта, а для юридических — подобных ограничений нет.
В количественных показателях IG — один из крупнейших CFD- и форекс-брокеров мира. Он имеет 14 офисов в каждом континенте и более 185 000 активных трейдеров.
Юридическое название — IG Markets Ltd. Штаб-квартира находится в Британии, регистрационный номер лицензии — 04008957. Бренды, входящие в IG Markets, разнообразны. Так, в США действуют Nadex и IG US.
Регуляция и репутация: обзор лицензий, отзывов и рейтинга на рынке
Регуляционные моменты здесь довольно чисты, придраться не к чему. Старожилы рынков обычно не могут долго проработать без соответствующего юридического основания. СFD-брокер IG Markets Ltd лицензирован и регулируется Financial Conduct Authority (FCA) Великобритании. Это один из влиятельнейших органов проверки надежности брокеров.
Обзор доступных торговых платформ
IG Markets работает с торговой веб-платформой IG. Этот продукт довольно известен своей надежной и стабильной работой. Основные проблемы — медлительность и не всегда корректные отображения статистики, что бывает достаточно редко.
В дополнение к IG, брокер также предлагает загружаемые приложения для устройств на iOS и Android. Веб-платформа и мобильные приложения кастомизируются для пользователя благодаря настраиваемым макетам, инновационным инструментам мониторинга, расширенной навигации и различным передовым инструментам торговли.
Также трейдеры могут использовать расширенные инструменты анализа графиков, предлагаемые IG/ Это несомненный плюс, о котором часто пишут в отзывах.
Если трейдеры предпочитают более известную торговую среду, то могут торговать на популярной платформе Metatrader 4.
Предлагаемые торговые счета CFD-брокера
IG Markets упрощает задачу, предоставляя своим клиентам только два типа торговых счетов и, конечно, демо-счет для тестирования программного обеспечения и торговой платформы.
Компания предлагает стандартный и дополнительные премиум-аккаунты для трейдеров с большим состоянием. Также есть специальный профессиональный аккаунт.
В ходе обзора выяснилось, что профессиональная учетная запись IG Markets требует определенных критериев (опыт и торговый капитал), но допускает более высокий уровень левереджа в обмен на меньшую нормативную защиту.
На стандартных счетах минимальная сумма сделки составляет 1 доллар США. Максимальный лимит на опцию фиксирован (300 USD).
В дополнение к двум предлагаемым счетам продвинутые трейдеры имеют возможность открыть счет DMA, который позволяет им торговать на глубине рынка с помощью алгоритмов. Кроме того, это дает трейдерам возможность участвовать в предрыночных и пострыночных аукционах, что, в целом, неплохо.
Трейдеры с IG Markets получают широкий спектр торгуемых финансовых инструментов, о чем часто положительно говорят в отзывах. Например, они имеют доступ к более чем 10 000 активов на всех торгуемых рынках, которые включают в себя спот-форекс, акции и CFD в валютных парах (более 90 валют), индексы, акции, товары, облигации и драгоценные металлы.
А что с техподдержкой?
IG Markets имеет адаптивную техподдержку, которая работает с разнообразными источниками. Время работы удобно только для европейцев — с 9:00 до 17:00 по Гринвичу. Кто не успел — его проблемы, на что часто жалуются трейдеры в отзывах. Менеджеры доступны только с понедельника по пятницу. В ходе обзора мы узнали, что клиентам предлагают на выбор для общения электронную почту, лайв-чат, телефон и контакты соцсетей. Хорошая техподдержка важна для трейдинга и здесь стараются ее обеспечить.
Полный адрес штаб-квартиры саппорта таков: Cannon Bridge House, 25 Dowgate Hill, London, United Kingdom EC4R 2YA.
Приоритетные направления работы IG Index
- Учебные материалы от IG. Есть отдельная библиотека чисто трейдерского направления.
- Развитие библиотеки торговых инструментов в виде графиков и аналитических программных средств. Более 100 технических индикаторов.
- Расширение выбора активов до десятков тысяч товаров различных направлений.
Брокера рекомендуют и опытным трейдерам, и новичкам. Количество вариантов торговых позиций тут таково, что оптимальная и прибыльная стратегия подбираются очень легко.
Обзор технической стороны
Для внесения средств на IG Markets применяются стандартные методы ввода: банковский перевод по реквизитам; с кредитки; путем оплаты счетов DBS/POSB; телеграфного перевода; стандартных чартерных счетов. Комиссия за такие переводы отсутствует (не считая внутренних банковских ограничений).
Для вывода средств требуются только минимальные суммы. Начальный депозит для любого аккаунта составляет £ 250 или эквивалент в другой валюте.
Для работы с депозитами требуются банковские карты VISA, MasterCard или Bank Wire Transfers.
Площадка ограничивает трейдеров в вопросе вывода через дебетовые и кредитные карты. В ходе обзора отзывов замечены неоднократные и довольно сильные лаги с выводом средств, иногда приходится слишком долго разбираться с техподдержкой.
Обзор отзывов трейдеров
Репутация у площадки спорная, особенно на постсоветском рынке. В отзывах мы встречали много жалоб о том, что реальный трейдинг тут убыточен. Также встречаются нарекания на “авторские” разработки ввиду того, что они совершенно не унифицированы и не рассчитаны для установки собственных специальных плагинов.
Русскоязычные пользователи часто обвиняют IG Markets в схожести с IG Investing, зарекомендовавшим себя не лучшим образом на рынке:
А вот клиенты англоязычных стран отзываются о брокере только положительно. Они очень хвалят IG Markets. Да и рейтинг компании в Сети достаточно высокий:
Из положительных моментов в отзывах отмечают надежность и удобный интерфейс ig.com:
Выводы относительно надежности IG Markets
В ходе обзора мы узнали, что говорить о брокере IG Markets исключительно в позитивных тонах довольно трудно. Есть негативные моменты, которые мы обязаны упомянуть: пользователи перманентно жалуются на технические недоработки сайта.
Однако надежная лицензия, удобный интерфейс и положительные отзывы иностранцев не дают нам повода отправить IG Markets в “черный” список. Смотрите, изучайте и принимайте решение о работе с сервисом. А если есть желание поделиться комментариями — пишите!
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