IG Markets Broker Review 2023: Pros, Cons & Key Features
What is your understanding of IG? In simpler terms, IG are referred to as an online broker specializing in offering Forex trading, Spread Betting, CFDs trading and Share dealing trading. Founded in 1974, IG are now one of the most famous global brokers with multiple offices scattered in different parts of the world, including their head office in the United Kingdom.
With their listed stock symbol, IG boasts of being publicly listed, meaning that you can purchase shares in IG especially on one of the global market exchanges.
As you may know, trading in the financial markets can take much of your time when it comes to finding the right broker to meet your needs. In most cases, you have to spend your time browsing through dozens of broker websites in a bid to find the ideal one.
Sadly, most of these broker websites are written in different languages and this is can be frustrating if you don’t understand any of those languages. Also, the entire website including the wording can be confusing if it is your first time searching for the best broker online.
Now you are here, we are going to help you find the best IG broker through our detailed and well-researched review. We are going to break down the advantages and disadvantages of IG, what they offer, and which countries you can find the IG brokers and so on. Read on to find out what you have been looking for all along.
It is always a good idea to have a trusted and capable broker if you want to make positive changes in online trading. Most importantly, ensure that your broker of choice is not a fake or unreliable one if you want to protect your investment.
Apart from that, you must make sure that all your needs are in sync with the profile of your trusted broker. This will help you create a reliable working profitable relationship.
1. What You Should Know about IG
As a reputable online broker, IG is devoted to providing four different ways to trade; CFDs, Forex, Share dealing and Spread Betting. As such, IG will help you succeed in one of these four ways of trading.
You will need to deposit at least $200 when you get started with IG. Before you do that, you are hereby advised to sign up for your demo account so you may acquaint yourself with everything you need to know about the IG platform. As a matter of fact, IG brokers can accommodate different levels of traders regardless of their experience.
2. Are IG Safe?
|Year of Establishment||1974|
|Head Office||The United Kingdom, Financial Conduct Authority (FCA)|
|Regulation||Australian Securities & Investment Commission (ASIC)|
|Used by||178,500 plus|
|Negative Balance Protection||-No|
|Guaranteed Stop Loss||-Yes|
|Learn More||Visit IG (https://www.ig.com/em )|
|Risk Warning||Losses may exceed deposits|
Before we help you get the answer to this common question, you need to understand what it takes to find the right broker. When you turn to IG for your online trading, the regulatory status and administrative body of this is a broker is of great importance to you.
Keep in mind that there are those brokers who conduct trades even without the supervision of a certified regulatory body. Such brokers are doing so at their own discretion and your investment may be at risk if things don’t work out as you would expect.
As mentioned earlier, IG was established in 1974 and has remained in operation for more than four decades with the head office in the UK. This broker is a regulated body, meaning that it is supervised and checked for their conduct regularly by the Financial-Conduct-Authority (FCA), Australian Securities & Investment Commission (ASIC) regulatory body.
In most cases, the regulated brokers find it difficult to manipulate market prices and this is advantageous to online traders.
When you send your withdrawal request to IG, you can rest assured that it will be honored no matter what. In case IG goes against any regulatory rules and obligations, their regulated status may be stripped. Likewise, when you make payments to IG accounts, it is held safely in a segregated account.
For more security features, IG takes advantage of the tier-1 banks. In actual sense, the tier-1 is a term used in reference to the official measure that determines a particular bank’s financial strength and health.
To find online trading through IG easily, you should consider creating at least two accounts. One of them should be a real account (with your real money) and the second one is your demo account or simply put your experimental account.
If you want to open a demo account, visit IG (Https://www.ig.com/en).
2.1. IG: Pros and Cons IG
- IG serves more than 178,500 traders
- Founded in 1974
- It is regulated by the Financial-Conduct-Authority (FCA), the Australian Securities & Investment Commission (ASIC).
- You only need a minimum of $200 when signing in or creating your account
- High-end platforms
- Thousands of markets
- Guaranteed stop losses
- Industry-standard MetaTrader (Mac and Windows)
- IG is not regulated by CySEC
- Dormant account fees
- No copy or social trading platform
- Retail clients cannot trade forex on the interbank
- May incur both the exchange and subscription fees
3. IG Financial Regulations and Supervision
One thing that should give you confidence about IG is that it is regulated by reputable organizations. The same organizations are responsible for supervising IG. This way you can check all IG regulatory and supervisory bodies such as FCA and ASIC.
Regulations play a critical role in giving you or other traders some recourse just in case of any issues with IG. The work of the regulatory authorities, however, is to protect you (or traders) against the reimbursement schemes. These schemes are more likely to regain your investment if IG or any other broker becomes insolvent.
Brokerage firms have the obligation of complying with different rules and criteria laid down by the international authority. The main reason for doing so is to provide traders with secure trading platforms as well as staying fully licensed. The whole idea behind such regulations is to protect all IG traders while providing them with a safe trading ground.
Given that IG is governed by reputable financial regulatory bodies, it is evident that their behavior is monitored closely. In case anything gets out of hand, the same regulatory bodies will take drastic measures to contain the situation. With that in mind, you need to find out if your chosen broker (such as IG) are legitimate online agents.
4. IG General Fees
|CFD Commission Fees||-Yes (0.1%)|
? IG does not charge withdrawal fees
? IG does charge dormant fees
? IG does charge the deposit fees
5. IG Commissions
It is important to know that IG charges a commission on CFDs shares.
6. What Can You Trade with IG?
There are quite a number of instruments that you can trade with IG. In fact, there are more than 10,000 instruments that you can trade with IG if you become one of their traders. Most significantly, IG offers more than 100 currency pairs.
Check out the comparison with other brokers below:
Remember: Losses may exceed deposits
|Platforms||MT4MacWeb TraderL2 DealerTableMobile Apps|
|FX/Currencies||Visit IG (https://www.ig.com/en )|
|Commodity CFDs||Visit (https://www.ig.com/en )|
|Indiced and Stock CFDs||Visit IG (https://www.ig.com/en )|
7. Trading on IG Platforms and Other Apps
IG provides the MT4 forex trading platform to the traders. You may compare what MT4 offers with other traders at
CompareBrokers.co (https://comparebrokers.co/compare/forex-brokers-mt4/) so you may understand what IG offers.
Another thing to note is that the IG Android and iOS native applications on your smartphone will work better than the Avatrade website despite using the same device. In addition to that, IG provides you with mobile applications for iOS and Android to make everything easier for you.
In other words, these apps enable you to monitor everything and execute all your trades while you are on the move. For more information, have a look at the IG platforms at https://www.ig.com/en.
7.1. IG Trading Benefits
? IG allows scalping
? IG allows hedging
? IG provides STP
? There is a minimum deposit
? Guaranteed stop loss
7.2. IG Trading Accounts provides the following:
? Mini account
? Demo account
? Standard account
7.3. Can I try IG before I purchase it?
As stated earlier, IG provides you with a demo account to help you familiarize yourself with every process involved before making up your mind. For that reason, you may create a demo account and learn how to trade before you decide to get into this form of online trading.
7.4. Which Forms of Payments does IG Accept?
Before you get started with IG, you need to learn the funding and withdrawal methods that work well with this broker. Mostly, IG provides the following funding methods:
? Bank Transfer
? Credit Cards
7.5. How do I Start Trading with IG?
Starting to trade with IG is as simple as taking a walk in the park. First of all, you will need to open a trading account with IG. This is followed by signing up to access your account after receiving your login details.
But before you do that, you will have to submit your credentials or identification documents to validate your account and make a deposit. Once everything pertaining to your account has been verified, you will proceed to the next step which involves downloading the IG trading platform of your choice.
Find more details and downloading guidance on these IG trading platforms (https://www.ig.com/en).
7.6. Trading with IG
IG gives you a platform to execute a trade of £1 on the minimum side. This amount varies from time to time depending on the type of account the trader is operating. On the other hand, IG lets you execute the maximum trade of various values.
Given that IG provides STP execution, you can rest assured that there will be tighter spreads. These spreads come with more transparency particularly on the amount of cash you are paying to execute the trade.
One of the main reasons why you should prefer trading with IG is that they are one of the few brokers that have no requotes. This is treated as a bonus so you do not have to worry about your IG trades being ordered at a price other than the one you used to execute them previously. However, the margin requirements vary according to individual traders, instruments, and accounts when trading with other brokers.
7.7. Education Resources at IG
For anyone to trade effectively on the IG platform, it is prudent to have first-hand information about the XTB trading markets and tools. Once you have these most important factors at the back of your mind, your trading with IG will become effortless, to say the least.
Normally, IG provides a good option in educational resources for those looking to learn more about online trading with brokers. In this regard, you need to spend a little of your time reading up and familiarizing yourself with how the trading and markets work, how to make active trades, and how to manage risks including learning more about trading times.
All these factors will enable you to acquire the right analytical skills with which you can use to your advantage when trading with IG. Find the right time and look at IG platforms in order to learn how to think logically and systematically about the markets. This is a new skill-set for many traders including you. This is exactly what the market out there requires of you.
7.8. Support at IG
The best thing about trading with IG is that it supports several languages such as Engish, German, Spanish, French, and Portuguese. Furthermore, IG boasts of a triple-A grade support rating as a result of offering and supporting a wide range of languages, not forgetting email support and live chat.
|Learn more||Visit IG (https://www.ig.com/en )|
|Risk warning||Losses may exceed deposits|
7.9. What do You Need to Open an Account with IG?
Since IG is always regulated and governed by the Finance-Conduct-Authority (FCA), Australian Securities & Investment Commission (ASIC), all new clients are required to pass some basic compliance checks. This will help the up-coming clients to have a full understanding of trading risks before they are allowed to execute the trade. So, if you open your account, you will most likely come across the following requirements:
- A scanned copy of your driving license, national ID or copy of your passport.
- A bank statement or utility bill from the last three months indicating your physical address
In addition to the aforementioned requirements, you will need to answer some basic compliance questions as a way of confirming your level of experience in trading. Therefore, it is wise to spare at least ten minutes to complete the process of opening a new account.
Even though you will be able to start exploring the IG platform immediately, it is important to know that you will not be allowed to execute trades for obvious reasons. The key among the reasons why you may not execute any trades is the need to pass the compliance test.
This may take you up to a few days depending on different factors such as your situation. If you are looking forward to starting the process of creating your own account with IG you may visit their website here ( https://www.ig.com/en) to get more insight.
When it comes to CFDs, there is more than meets the eye. The CFDs are considered leveraged products such that they can result in capital loss. Nevertheless, every trading venture involves some risks. So, make sure that you only risk that capital you are not prepared to lose. Remember that your past performance doesn’t guarantee any future results on your side.
8. IG Bottom Line
- IG have grown to earn a reputation in their ability to offer Forex, Spread Betting, CFDs and Share dealing
- IG has been in existence for more than 44 years since 1974
- IG prides itself in a reasonable and devoted customer service support call center comprising of at least ten individuals.
- IG brokers are regulated by the Financial Conduct Authority (CFA), the Australian Securities & Investment Commission (ASIC). This should tell you that IG is placed under regulation in case of any disputes. In this regard, IGcan be held responsible for its shortcomings or rather play an arbitration role if problems arise.
- IG enjoy regulations from one of the Tier-1 reputable countries.
- IG has the power to have the deposits and withdrawals processed in a matter of days, let’s say two to three days utmost. This plays a crucial role when you are withdrawing funds.
- IG has spread far and wide and you can find them in various countries. With their international presence, IG can organize local seminars and carry out training as well.
- IG can hire different people from different locations across the world. That is the reason IG supports several key international languages such as English, French, German, Spanish, and Portuguese.
9. The Uniqueness of IG
You need to know that IG is a very unique brokerage platform and for a good reason. Apparently, IG boasts of a large number of assets and markets that are accessible by traders. In other words, IG as one of the CFD brokerage platforms exposes traders to more than 16,000 markets worldwide. This type of exposure allows traders to access numerous financial instruments from different markets globally. In fact, their services target a number of traders all over the world. This is attributed to the presence of their 15 sales offices in different parts of the world.
IG has a reputation for providing financial market services for almost five decades. This makes it one of the most trusted brokerage companies you can rely on. So far the company has transacted trillions of dollars for different clients across the globe. Based on these findings, and the company’s vast liquidity, you can have peace of mind when trading with IG.
At the same time, IG is regulated by the Financial-Conduct-Authority (FCA), meaning that they implement some strict regulations to ensure that your funds and data remain safe and confidential throughout. For that reason, you can rest assured that your cash and data will be secure when you create an account with IG.
10. IG Trading Conditions
As a trader, you need to be fully aware of IG trading conditions before you get started. In this case, the market conditions available on this trading platform include:
- The fast trading order execution onthe 16,000 financial markets
- The IG platform is available and open to traders 24/7 for some indices and cryptocurrencies
- Customer service support is always available starting from Saturday 8:00 am to Friday 10:00 pm (GMT)
- IG charges specific inactivity account fees
- There are guaranteed loss orders in place to help protect trading accounts from the runaway losses
- IG accepts numerous payment methods
- 1:200 is considered the highest leverage on this trading platform
11. IG Customer Service
IG customer service is considered one of the most outstanding in the industry at the moment. This is due to the fact that their support team is always ready to help you 24 hours a day from Monday to Saturday.
For any queries or clarifications, you may contact customer care representatives through phone calls, email or live chats. The agents are highly experienced, knowledgeable and professional in every aspect of the financial market. These individuals can resolve your complaints in a timely manner, enabling you to carry on with your trades almost immediately.
12. Frequently Asked Questions
Should I try IG before I buy it?
As usual, IG provides a demo account to new traders. The main purpose of this demo account is to make you acquaint yourself with how the whole trading process works before putting down any form of payment.
What funding method should I accept?
IG offers several funding methods such as Bank Transfers, PayPal, Credit Cards, Wire Transfer, Payoneer, and many others. You can use any of the methods outlined here. However, you need to make sure you adhere to all the terms and conditions of IG to avoid having your withdrawal or deposit withheld. Make sure you do not go against any of the set rules.
How do I start trading IG?
The first step when starting to trade with IG is to open an account. So, you will go to the IG websites and sign up. Afterward, you will receive details of your login via email before you submit your identification documents to validate your account. This will be followed by making a deposit and finally downloading the IG trading platform of your choice.
Should I believe that my money is safe with IG?
The astounding answer is yes. This is because IG is regulated and governed by FCA, Australian Securities& Investment Commission (ASIC), which should give you confidence about IG. One of the criteria used by traders when looking for brokers such as IG is the regulatory status and regulatory body that governs a particular broker. So, with IG, you can rest assured that your money will remain safe throughout.
There you have it! IG is one of the regulated brokers you will ever come across. As usual, regulated brokers have no power to manipulate market prices, thus giving traders a good platform to execute their trades. Established in 1974, IG has grown and spread to cover a wide spectrum of clients in different countries across the world. This broker offers CFDs, trading, Forex trading, Share dealing trading and Spread trading. If you have been looking for a reliable and trusted online broker, look no further than IG.
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