IG Review : Is IG a Good Broker? Pros and Cons

If you choose to use guaranteed stops (which ensure you can’t lose more on a trade than the amount set) then spreads will widen slightly. To keep spreads tight, forex direct has a different cost structure to the standard execution. With this account, IG clients pay commission and these commissions will be reduced the more the client trades in the month. IG is a legitimate Forex trading broker that stores all client funds in segregated accounts and conducts regular audit reports. On the other hand, the IG mobile trading platform only has one-step login process and does not accept facial and fingerprint recognition as a form of login. You will also find that the mobile application only allows price alerts to be activated and no other type of notification.

In fact, the broker has long been regarded as one of the most accomplished companies in offering the most trading assets to clients. The wide choice of instruments includes forex pairs, 26 indices, over 12,000 shares, hard and soft commodities, cryptocurrencies, as well as other markets such as bonds, rates, and options. One positive aspect noted by our IG Broker review, is that the platform allows you to dip your toes in the water by opening up a demo trading account.

In the UK, the broker holds a license from the Financial Conduct Authority. Under FCA regulations, the broker needs to maintain the minimum level of capital in addition to keeping clients’ funds in segregation. IG also offers insurance of funds through the Financial Service Compensation Scheme – FSCS.

What are IG’s spreads?

One of the best features at IG Markets US is the IG Academy, which I rank among the best industry wide. The step-by-step courses feature video content, videos, and quizzes, and I highly recommend beginner traders to take full advantage of the IG Academy. Webinars, seminars, and other educational material complement the superb educational offering at IG Markets US. While IG Markets US provides two examples of trading costs and how swap rates apply, I dislike the lack of complete transparency.

IG offers trading tools that will help predict patterns or analyze the market to identify the best trading environment for you, without you facing any financial risk. These trading tools include AutoChartist and the Trade Analytics Tool. IG offers more than six different asset classes and over 17,000+ financial instruments, which is one of the highest selections of tradable products in the industry.

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IG offers pricing discounts through its active trader rebate program. This means that the more you trade, the more you can save in costs. The country in which you are a resident will determine which IG account type you can open.

IG Reviews

Seize your opportunities with a cutting-edge platform built around your needs. React fast with the intuitive IG turbo trading platform, plus trade commission-free on rising or falling markets. A turbo warrant (also known as a turbo/turbo certificate) is a listed security – meaning you trade it on an exchange or https://forexbroker-listing.com/ other venue. Its price is based on the value of an underlying financial asset, like a stock index or currency pair. For each trade you choose a knock-out level , and your position terminates instantly if this price is hit. This includes spreads that start at just 0.1 pips and no commissions on non-stock CFDs.

  • It offers low spread costs, great customer service and educational tools, and a functional user interface that makes IG an established broker in the online trading market.
  • From our experience, IG offers a trading platform for any type of trader.
  • Since IG offers a range of sophisticated investment products, the broker also needs to ask you a few questions about your previous trading experience.
  • With 45 years of experience, IG are rightly proud to offer a truly market-leading service.
  • I also like the choice of trading platforms, consisting of a competitive proprietary trading platform, ProRealTime, and MT4.

IG ProRealTime As an IG client you get ProRealTime charts free for your first month. After that, you still won’t pay for ProRealTime if you trade at least four times in a given month. If you don’t, or your trading activity is of extremely low value, you’ll pay a €30 fee on the last day of every month. IG Trading AppGet all the features you need to trade from within the app. Open, monitor, edit and close your positions from wherever you are.

Brokerage Quick Summary

Funding your IG Forex trading account is only possible if you have verified your identity. Once your profile has been activated, you can deposit funds into your trading account through your account dashboard. Once again, the broker is a bit different from other mainstream brokers, accepting deposits only through credit/debit cards, bank wire transfers and PayPal. The company does not support any other payment options such as prepaid cards, e-wallets or mobile wallets, which can be a drawback for most traders. These restrictions may help the company stay safe from fads in the online payments industry, but we believe most modern payment systems are fast, reliable and, most importantly, secure. It should be noted at this point, however, that IG focuses almost exclusively on forex.

ig forex broker review

Instead, prices are quoted directly with liquidity and major providers with a flat commission placed on volume by IG. This platform is ideal for those forex traders who also want to trade shares worldwide through a CFD broker. As discussed earlier, L2 Dealer is the advanced choice for those looking to trade CFDs and also share trade. The main features of the IG retail investor accounts are the range of trading instruments available. IG is one of the largest range of trading instruments found among all brokers. IG is the largest retail forex broker with solid reviews, a range of markets including forex, CFD and shares combined with competitive spreads and the choice of trading platforms.

Prepaid cards may be subject to additional fees by the provider. Bank transfers are possible, but it can take up to 4 business days for account payments to be transferred. One of the many features available at IG includes the fact that you can use your Android and iOS apps to add funds to your account. IG Charts can be included for free to provide technical indicators and the ability to trade directly from charts. Another option is ProRealTime, which is an advanced charting tool, with a dedicated suite of features.

In the United States, we can use this platform to trade Forex and Shares. It offers low spread costs, great customer service and educational tools, and a functional user interface that makes IG an established broker in the online trading market. Also, it is holding a good position in other countries as well. As per our IG review, the educational section of this broker is known as IG academy.

IG also provides a dedicated mobile app for education, and its strong social community of over 64,000 members provides a selection of crowd-sourced articles. Advanced tools include a customizable screener for various asset classes, including CFDs on global stocks, forex. IG’s innovative “Recommended News” section personalizes your content, aiming to tailor headlines based on your account traits. The additional DailyFX content practically doubles the already impressive amount of research provided by IG.

Profit Lab EA Review

CFD trading in the case of IG means dealing desk/market maker trading execution. With this type of trading are no commissions when trading instruments such as forex, indices and cryptocurrencies as the primary trading costs are included in the spreads. The broker uses various secure payment methods for traders to withdraw funds safely from their trading accounts.

In the case that IG goes bankrupt or faces any financial decline, the investor protection amount protects clients from losing any funds that was transferred into IG. IG is one of the current largest Forex brokers in the trading industry that was founded in 1974. Two trading accounts are available for use, depending on the type of trading preference you have.

The award-winning trading platform at IG is 100% browser-based. The apps are designed for use on mobile smartphones, tablets and phablets. The sophisticated technology allows you to access thousands of markets across multiple devices, and there is full integration of APIs and terminals.

The types of trading accounts available will depend on the country you are trading from. In addition, you can always watch high-quality educational videos and tutorial videos that will walkthrough different platforms and trading instruments with you. You can also open a Demo Account for free that allows you to test out trading strategies with up to 20,000USD of virtual funds. However, the customer service is not available 24\7 and the phone support has received poor feedback.IG provides three different forms of communication to reach the customer service department.

For DMA accounts, the broker offers the L2Dealer interface, which is free to download, but access to data comes with a data usage fee. The L2Dealer IG trading platform is not as graphically advanced as other apps in the FX market, but it gets the job done. Traders can access more than 10,000 different financial instruments from the share market through the L2Dealer platform, making it a must-have for share trading. The liquidity and costs represent the real market conditions, but there is no actual ownership of the shares, which is a bit disappointing.

Trading platforms are secured with Secured Socket Layer so that all clients’ data are encrypted in case of internet hackers intercept it while in transit to IG servers. Trading options ig group review is done on the IG Options trading platform, which is available for clients in the European region. Spreads will vary based on the currency pair, account type, and market conditions.

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Yes, IG is an excellent broker that ranks at the top in nearly all key categories of importance to traders.

The inactivity fee is usually $12 for every month the account stays inactive. However, IG only starts incurring the fee if the account has stayed inactive for a complete 24 months. The inactivity fee can differ though and is $18 for all countries that are regulated via the international financial authority BMA .