IG Trading Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Losses can exceed deposits. Refer to our RDS at IG.com.sg. Regulated by MAS. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

IG is an online forex and CFD broker that has been providing trading opportunities in multiple financial assets for the past four decades. The broker is known for its proven history of sustainability, transparent costing, and a seamless trading environment. If you are in search of a reputed forex broker, then IG markets can be one of the best choices available around.

In this piece, I review various aspects of the broker in detail.

Overview 

IG International is a part of IG Group, founded in 1974. The broker is based in the United Kingdom. Initially, the company started its operations as a spread betting entity with a brand name IG Index. In 2000, the company changed its name from IG Index to IG PLC Limited and became listed on the London Stock Exchange. In the UK,  IG Group Plc holds regulations from the Financial Conduct Authority – FCA. The company also holds multiple licenses from various regulatory bodies around the world including, ASIC, MAS, FINMA, JFSA, and CFTC. 

In 2002, After the change in the UK’s legislation concerning the scope of financial services, IG started offering CFD trading to the Australian citizens. In the next few years, IG became a global leader in trading services across five continents. As of 2019, The reported revenue of the company was £488 Million, with a net profit of £158.3 Million.

IG offers access to more than 17000 financial assets. The company serves around 239000 clients from all over the world. IG has its local offices located in 17 countries.

ProsCons
A wide range of financial assets available
Accepts US clients
Excellent research & educational tools
Multiple deposit and withdrawal options
Strong Regulatory Framework
Higher CFD fee
No funds protection for US clients
Average Customer Support
Slow account opening process

Who IG is for? 

Being a universal broker with a competitive pricing structure, IG is the best fit for both skilled and newbie traders. Learners can try IG demo accounts for practicing various trading strategies under live trading conditions. Similarly, charts with great analysis tools as well as free trading signals make IG a great choice for advanced-level traders. The wide range of offerings and multiple research & educational resources can easily attract all types of traders

Sign up bonus: IG does not offer any sign-up bonus at present. 

Is IG Safe? 

Trust Score: 100 (read more)

Whether you wish to trade CFDs or prefer spread betting, IG offers regulated trading services worldwide. 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.

The insurance scheme allows clients to claim compensation of up to £85000 in case the company becomes insolvent. Other funds security measures include negative balance protection and two-step authentication factor. With negative balance protection, clients have a peace of mind that their financial loss will never exceed the amount they have invested. Two-step authentication makes unauthorized intrusion nearly impossible. So we can safely conclude that IG is an extremely safe broker for investment. 

Year founded:1974
Publicly traded: Yes 
Licenses: FCA, ASIC, MAS, FINMA, CFTC, and JFSA
Backlist: Nil

Offering of Investments 

IG offers a wide range of financial assets, including Forex, CFDs, and cryptocurrencies. Clients can also explore trading opportunities in stocks, indices, commodities, and options across 17000+ financial markets. It is however pertinent to mention here that the list of available tradable instruments may vary depending upon the geographical location of a trader.  For example, US clients can only opt for spot trading at IG. With a product catalog of around 70 key stocks, IG provides spot forex trading in major, minor, exotic, and emerging forex pairs through its division called IG US.  

Forex: Spot TradingYes
Currency Pairs (Total Forex pairs)104
Social Trading / Copy-TradingYes
CFDs instrumentsForex, Shares, Stocks, Indices, Options, Commodities, Cryptocurrencies ( 17000 +

Commissions & Fees 

IG operates with a competitive fee & commission structure. The main portion of the company’s revenue comes from spreads. With an average spread of 1.39 pips on standard and mini lots of major FX pairs, IG outclasses its competitors even in the least liquid market conditions. Further, the company does charge any commission on trades. 

High volume CFD traders can also claim cash rebate offers at IG. The company has classified the cash rebate program in various tiers. The rebate offer is applicable for high-volume traders only. For a cash rebate of $5 per million traded volume, a trader needs to have at least $25 Million worth of volume traded in one calendar month. Similarly, for traders with a traded volume of $200 Million & $300 in a month, the company offers a cash rebate of $7 & $10 per Million of traded volume respectively. 

On the other hand, IG also offers DMA accounts with lucrative discounts. The average spread in DMA accounts does not exceed 1.4 pips, which is a competitive figure as compared to industry standards. The minimum deposit amount at IG is $300. The broker does not charge any fee on deposits. Traders can fund their accounts using debit or credit cards. The broker also accepts deposits through bank transfers and e-wallets such as PayPal and Skrill. 

Minimum Initial Deposit$300
Average Spread EUR/USD – Standard0.8 Pips
All-in Cost EUR/USD – Active0.365 pips
Minimum withdrawal Not Specified

Platforms & Tools 

IG offers multiple innovative trading platforms to its customers. Whether you prefer trading online or a desktop trading platform suits you better, IG has got all that you need. With its user-friendly trading platforms, trading analysis and trade execution become super easy. Instant execution helps traders enjoy the best prices with an average trade execution rate as fast as 0.014 seconds. 

The proprietary web-based trading platform comes with premium features such as support tickets, news & analysis, charts, price alerts, and trading signals. Traders also have the option to customize the platform as per their trading preferences. The simple design of the trading platform enables you to have a quick look at spreads, margins, and market prices. Guaranteed stops with water-tight protections provide you a peace of mind. 

On the other hand, the desktop trading platform MT4 also has some promising functions. The price alert feature keeps traders updated when a price reaches the predefined level or desired technical conditions are met. The advance-level charts enable clients to analyze the performance of an underlying asset on 9 different time frames through a single chart. Traders can also enter or exit a position directly from the charts with 1-click trading feature. Other features include setting up multiple workspaces, watchlist creation, switching between light and dark themes, and personalization of the balance bar. 

Virtual Trading (Demo)Yes
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Charting – Indicators / Studies (Total)30
Charting – Drawing Tools (Total)20
Charting – Trade From ChartYes
Order Type – Trailing StopYes

Research  

IG secures full marks in providing excellent research tools. The broker offers a wide range of content in the news and analysis section to keep clients updated on the latest economic developments across various financial markets. Reading through expert analysis, clients are in a position to identify the prevailing price trends in different financial assets. IG also offers specialist insights on different trading strategies, empowering traders to invest in global markets. With the help of an economic calendar, traders can keep track of the upcoming important economic events. 

Education  

IG’s education section is also full of informational resources. The broker helps newbies become expert trading professionals with the help of the IG Academy. Clients can access a variety of video tutorials, infographics, and quizzes at the end of each course. Through-step-by-step video courses, the broker allows traders to learn at their own pace.

Using virtually funded demo accounts, traders can practice multiple trading strategies in live markets without risking real funds. There are a total of eight courses designed to meet various needs of traders. Beginners can start from the basic level, while seasoned traders can get enrolled at a more advanced level. Those who prefer live trading sessions can sign up for free daily webinars offered by IG.  

Mobile Trading 

If we review the features that come with the IG’s mobile-based trading platform, then it is safe to say that the broker exceeds the industry standards. All of the tools and functions provisioned in web trader are present in the mobile version as well. Whether you wish to create a watchlist or go through trader sentiments, each of the options is just a click away. Multiple technical indicators and a variety of drawing tools make the mobile app even more useful.

However, it is important to mention that you might miss the automatic chart synchronization in the mobile app. The charts on the IG’s mobile trading app are very accurate. As far as research tools are concerned, the IG mobile app comes with limited research tools. You might also not be able to access the education section with the IG Mobile trading app because the IG has provisioned a separate stand-alone app for the same. 

Mobile devices Android &  Apple 
FeaturesWatchlist, charting tools, negative balance protection, price alerts, sentiments reading

Final Thoughts 

After a detailed review of the broker, I find IG to be one of the most competitive brokers in the forex industry. With its neatly designed proprietary trading platforms and competitive spreads, the company satisfies both newbie and advanced traders. The variety of research and educational tools coupled with multiple regulations make the broker a secure choice for traders.