IG Review 2024

Introduction

IG, formerly known as IG Markets, is a leading online trading provider established in 1974, making it one of the oldest and most reputable brokers in the industry. Headquartered in London, United Kingdom, IG has a global presence, serving clients in over 16 countries and offering access to a wide range of financial instruments. With its user-friendly trading platforms, competitive pricing, and extensive educational resources, IG has established itself as a preferred choice for traders worldwide.

Expert Analysis

IG maintains a strong position in the online trading industry with its comprehensive range of trading services and commitment to client satisfaction. Our analysis of IG’s offerings reveals a broker dedicated to providing traders with a secure and efficient trading environment.

IG operates under the regulation of top-tier authorities, including the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities and Investments Commission (ASIC). This regulatory oversight ensures a high level of trust and protection for clients’ funds.

IG offers a range of advanced trading platforms, including its proprietary web-based platform and mobile apps, as well as the popular MetaTrader 4 (MT4) platform. These platforms are known for their reliability, ease of use, and comprehensive features, catering to traders of all experience levels.

IG provides access to a diverse range of financial instruments, including forex, indices, commodities, shares, cryptocurrencies, and bonds. This allows traders to diversify their portfolios and capitalize on various market opportunities.

It also places a strong emphasis on client education, offering a wealth of educational resources, including webinars, tutorials, articles, and market analysis. These resources are designed to empower traders with the knowledge and skills needed to succeed in the financial markets.

The Pros and Cons

Pros

✔️ Highly regulated by top-tier authorities
✔️ User-friendly trading platforms
✔️ Wide range of financial instruments
✔️ Competitive pricing and low spreads
✔️ Extensive educational resources

Cons

❌ Limited cryptocurrency offering
❌ Inactivity fee for dormant accounts

Is IG Right for You?

IG caters to traders of all experience levels, offering a user-friendly trading environment, competitive pricing, and extensive educational resources. Whether you are a beginner looking to learn the ropes or an experienced trader seeking advanced trading tools, IG provides the necessary support and tools to help you achieve your trading goals.

What Sets IG Apart?

Several factors distinguish IG from other brokers:

Regulatory Oversight: IG is regulated by top-tier authorities, providing clients with a high level of trust and protection.
Advanced Trading Platforms: IG offers a range of sophisticated trading platforms, including its proprietary platform and MT4, catering to traders’ diverse needs.
Comprehensive Product Offering: IG provides access to a wide range of financial instruments, allowing traders to diversify their portfolios and capitalize on various market opportunities.
Extensive Educational Resources: IG offers a wealth of educational resources, including webinars, tutorials, articles, and market analysis, empowering traders with the knowledge and skills needed to succeed.
Competitive Pricing: IG offers competitive pricing and low spreads, ensuring cost-effective trading for its clients.

Main Features

Trust and Safety

IG maintains a high level of trust and safety for its clients through stringent regulatory oversight and robust client fund protection measures. The broker operates under the regulation of top-tier authorities, ensuring compliance with strict regulatory standards.

Regulation

IG is regulated by the following regulatory authorities:

• Financial Conduct Authority (FCA) in the United Kingdom, registration number 195355 (Tier-1 regulator)
• Australian Securities and Investments Commission (ASIC) in Australia, AFSL number 220440 (Tier-1 regulator)
• Monetary Authority of Singapore (MAS) in Singapore, CMS100917 (Tier-1 regulator)
• Financial Services Agency (FSA) in Japan, registration number 191197 (Tier-1 regulator)
• Dubai Financial Services Authority (DFSA) in the United Arab Emirates, registration number F003333 (Tier-2 regulator)
• Federal Financial Supervisory Authority (BaFin) in Germany, registration number 148759 (Tier-2 regulator)
• Financial Sector Conduct Authority (FSCA) in South Africa, registration number 41393 (Tier-2 regulator)
• Swiss Financial Market Supervisory Authority (FINMA) in Switzerland, registration number 110762 (Tier-2 regulator)

The FCA is known for its stringent regulatory standards and oversight of financial firms operating in the UK. As a regulated entity under the FCA, IG must adhere to strict guidelines to ensure client protection, transparency, and fair trading practices.

As for ASIC, it is the regulatory body responsible for overseeing the financial services industry in Australia, including brokerage firms. By being regulated by ASIC, IG must comply with Australian financial regulations and maintain the necessary standards to ensure the integrity of its operations and the protection of its clients.

The Monetary Authority of Singapore (MAS) regulates financial institutions in Singapore, including IG. As a regulated entity under MAS, IG must uphold high standards of integrity and transparency, ensuring fair and ethical conduct in its operations.

In Japan, IG is regulated by the Financial Services Agency (FSA). The FSA oversees the financial services industry in Japan, including brokerage firms like IG. Compliance with FSA regulations is crucial for IG to operate legally and maintain the trust of its clients in the Japanese market.

The Dubai Financial Services Authority (DFSA) regulates financial services firms in the Dubai International Financial Centre (DIFC). As a regulated entity under the DFSA, IG must comply with the regulatory framework set forth by the authority, ensuring the protection of investors and the integrity of the financial markets within the DIFC.

In Germany, IG is regulated by the Federal Financial Supervisory Authority (BaFin). BaFin is responsible for supervising banks, financial services institutions, and insurance companies in Germany. Compliance with BaFin regulations is essential for IG to operate legally and maintain the trust of its clients in the German market.

The Financial Sector Conduct Authority (FSCA) regulates financial institutions in South Africa, including IG. As a regulated entity under the FSCA, IG must adhere to the regulatory requirements set by the authority, ensuring fair treatment of clients and the stability of the financial system in South Africa.

Lastly, IG is regulated by the Swiss Financial Market Supervisory Authority (FINMA) in Switzerland. FINMA is responsible for supervising financial institutions, including banks and securities dealers, to ensure compliance with Swiss financial regulations. Compliance with FINMA regulations is essential for IG to operate legally and maintain the trust of its clients in the Swiss market.

These regulatory approvals demonstrate IG’s commitment to operating with transparency, integrity, and compliance with industry standards, providing traders with a level of trust and confidence in the broker’s services.

Is IG Safe to Trade With?

IG provides a secure trading environment for its clients, backed by strong regulatory oversight and client fund protection measures. The broker segregates client funds from its own operational funds and offers negative balance protection, ensuring that clients cannot lose more than their account balance.

IG operates under the regulation of top-tier authorities, including the FCA in the UK and ASIC in Australia, which impose strict regulatory standards on brokers. These regulatory bodies monitor IG’s operations to ensure compliance with financial regulations, safeguarding clients’ interests and funds.

In addition to regulatory oversight, IG employs advanced security measures to protect clients’ personal and financial information. These measures include encryption technology, firewalls, and secure servers to prevent unauthorized access and data breaches.

Overall, IG is considered a safe and trustworthy broker, providing clients with a secure trading environment and peace of mind when trading the financial markets.

Commission and Fees

IG offers a transparent and competitive commission and fee structure tailored to the needs of traders across various experience levels and trading styles. The broker primarily operates on a spread-based model for most trading instruments, where traders pay the difference between the bid and ask prices. Additionally, IG offers different account types, each with varying spreads and commissions, allowing traders to choose the option that best suits their trading preferences and budget.

Commission and Fees Overview

• Spread-Based Trading: Competitive spreads with no additional commission on most trades, providing cost-effective trading opportunities across a wide range of financial instruments.
• Variable Spreads: Spreads may vary depending on market conditions and volatility, with tighter spreads during normal market conditions and potentially wider spreads during periods of high volatility or low liquidity.
• Overnight Financing Charges: Positions held overnight may incur financing charges, also known as swap rates, which vary by currency pair and direction of the trade. Traders should be aware of these charges when holding positions overnight.
• Account Types: IG offers different account types, including Standard, Pro, and VIP accounts, each with specific trading conditions and fee structures. The choice of account type may impact spreads, commissions, and other trading costs.
• Transparency: Detailed fee information, including spreads, commissions, and overnight financing charges, is provided on the IG website and trading platforms. Traders can access transparent pricing information to make informed trading decisions and manage their trading costs effectively.

With a commitment to transparency and competitive pricing, IG strives to provide traders with a cost-effective trading environment that maximizes value and enhances the overall trading experience.

Deposit & Withdrawal Options

IG offers a diverse range of deposit and withdrawal options to cater to its global clientele. Traders can fund their accounts and withdraw profits using various methods, including:

Bank Transfers: IG supports both local and international bank transfers, providing traders with a reliable option for larger transactions and international transfers, albeit with longer processing times.

Credit/Debit Cards: Major credit and debit cards, such as Visa and Mastercard, are accepted for instant deposits, offering quick access to trading funds.

Electronic Payment Systems: IG supports various electronic payment systems, including PayPal and Skrill, offering instant deposits and withdrawals for traders prioritizing speed and efficiency.

Cryptocurrency Deposits: IG does not currently accept cryptocurrency deposits, which may limit options for traders preferring blockchain transactions.

Low Fees and Fast Processing: IG aims to provide cost-effective deposit and withdrawal solutions, with minimal fees and fast processing times. However, specific fees and processing times may vary depending on the chosen payment method and the trader’s location.

Tradable Instruments

IG offers a diverse range of tradable instruments across multiple asset classes, including:

Forex (FX) Pairs: Traders can access major, minor, and exotic currency pairs, allowing participation in the global forex market with competitive spreads and fast execution.

Commodities: IG provides trading opportunities in popular commodities such as gold, silver, crude oil, and natural gas, enabling traders to diversify their portfolios and hedge against inflation or geopolitical risks.

Indices: Trading is available on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and Nikkei 225, allowing speculation on the performance of global equity markets.

Shares (Stocks): Traders can trade a broad range of individual stocks from leading companies listed on major stock exchanges, providing exposure to companies with growth potential or those they are familiar with.

Cryptocurrencies: IG offers trading in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC), allowing traders to participate in the emerging asset class of digital currencies.

Bonds: IG offers trading in government and corporate bonds, providing opportunities to invest in fixed-income securities and diversify portfolios with relatively low-risk assets.

Futures: Traders can access futures contracts on various underlying assets, including commodities, indices, and currencies, providing opportunities for speculative trading and hedging against future price movements.

Contracts for Difference (CFDs): IG also offers CFDs across all the aforementioned asset classes, enabling traders to speculate on price movements without owning the underlying assets.

Overall, IG provides a comprehensive selection of tradable instruments, catering to the diverse needs and preferences of traders across different markets and asset classes.

What are CFDs?

A Contract for Difference (CFD) is a financial derivative product that allows traders to speculate on the price movements of various underlying assets, such as stocks, indices, commodities, or currencies, without owning the underlying asset itself. When trading CFDs, traders enter into a contract with the broker to exchange the difference in the price of the asset from the time the contract is opened to when it is closed. CFDs provide traders with the opportunity to profit from both rising and falling markets, as they can take long (buy) or short (sell) positions.

What Can You Trade with IG?

Account Types

IG offers a range of account types designed to cater to the diverse needs and preferences of traders, from beginners to seasoned professionals. Each account type comes with its own features, benefits, and trading conditions, allowing traders to choose the option that best aligns with their trading goals and strategies.

• Standard Account: Ideal for beginner traders or those looking for simplicity and ease of use. The Standard account typically features competitive spreads and no additional commissions on most trades. It provides access to a wide range of financial instruments and basic trading tools to help traders get started in the markets.
• Pro Account: Geared towards more experienced traders who require advanced trading features and prefer tighter spreads. The Pro account may include lower spreads compared to the Standard account, making it suitable for active traders and those who execute larger volumes of trades. Traders may also have access to additional trading tools and resources to enhance their trading experience.
• VIP Account: Designed for high-volume traders and institutional clients who demand personalized service and premium trading conditions. The VIP account typically offers the lowest spreads, priority customer support, and exclusive features such as dedicated account managers and tailored trading solutions. This account type is suitable for professional traders seeking the highest level of service and customization.

By offering a variety of account types, IG aims to accommodate traders with varying levels of experience, trading volumes, and preferences, ensuring that each trader can find an account that meets their specific needs and objectives.

Restricted Countries

IG restricts trading accounts from several countries due to regulatory restrictions and other factors. The list of restricted countries may vary over time and is subject to change. Some of the common restricted countries include the United States, Canada, Japan, Iran, North Korea, Syria, Afghanistan, Iraq, Sudan, and Yemen. Traders from these countries may be unable to open accounts or trade with IG due to legal and regulatory constraints. 

Trading Platforms

IG offers a range of trading platforms to cater to the diverse needs of traders:

• IG Trading Platform: This is IG’s proprietary web-based platform, accessible through a web browser. It provides an intuitive interface with advanced trading tools, customizable charts, and real-time market data. The platform is suitable for both beginners and experienced traders and offers a seamless trading experience across devices.
• MetaTrader 4 (MT4): MT4 is a popular third-party trading platform known for its advanced charting capabilities, extensive technical analysis tools, and support for automated trading through Expert Advisors (EAs). IG offers MT4 integration, allowing traders to access their IG accounts and trade forex, indices, commodities, and cryptocurrencies using the MT4 platform.
• MetaTrader 5 (MT5): Similar to MT4, MetaTrader 5 (MT5) is a multi-asset trading platform that offers enhanced features and additional asset classes. With MT5, traders can access a broader range of financial instruments, including stocks and futures, in addition to forex, indices, commodities, and cryptocurrencies.
• IG Mobile App: IG provides mobile trading apps for iOS and Android devices, allowing traders to access the markets and manage their positions on the go. The mobile app offers full trading functionality, including real-time quotes, interactive charts, order management tools, and price alerts, ensuring a seamless trading experience across mobile devices.

Overall, IG’s diverse range of trading platforms caters to traders of all levels, from beginners to advanced users, providing them with the tools and flexibility to trade the global financial markets efficiently.

Key Aspects of the Platform

The key aspects of IG’s trading platforms include:

• Advanced Charting Tools: IG’s platforms offer comprehensive charting capabilities with a wide range of technical indicators, drawing tools, and customizable chart types. Traders can perform in-depth technical analysis to identify trading opportunities and make informed decisions.
• Order Management: IG’s platforms provide advanced order types and management features, allowing traders to execute trades with precision and control. This includes market orders, limit orders, stop orders, and conditional orders, as well as features like one-click trading and order depth analysis.
• User-Friendly Interface: IG’s platforms are designed with a user-friendly interface that caters to traders of all levels. The intuitive layout, easy navigation, and customizable settings ensure a seamless trading experience, enabling traders to focus on their trading strategies without distractions.
• Automated Trading: IG’s platforms support automated trading through Expert Advisors (EAs) and algorithmic trading strategies. Traders can develop, backtest, and deploy automated trading systems to execute trades automatically based on predefined criteria, freeing up time and eliminating emotional bias.
• Mobile Trading: IG offers mobile trading apps for iOS and Android devices, allowing traders to access the markets and manage their positions on the go. The mobile apps offer full trading functionality, real-time market data, interactive charts, and seamless synchronization with desktop platforms.
• Research and Analysis: IG’s platforms provide access to a wealth of research and analysis tools, including market news, economic calendars, sentiment indicators, and analyst recommendations. Traders can stay informed about market developments and make data-driven decisions using the platforms’ integrated research tools.

Overall, IG’s trading platforms are equipped with advanced features and tools to empower traders with the flexibility, control, and insights they need to trade the global financial markets effectively.

Research and Education

• Market Analysis: IG offers daily market analysis reports covering major financial markets, including forex, indices, commodities, and cryptocurrencies. These reports provide insights into market trends, key support and resistance levels, and potential trading opportunities.
• Economic Calendar: Traders can access an economic calendar that lists upcoming economic events, such as central bank meetings, economic data releases, and geopolitical developments. The calendar includes forecasts and historical data, helping traders anticipate market movements and plan their trading strategies accordingly.
• Technical Analysis: IG’s platform offers advanced charting tools and technical analysis indicators, allowing traders to analyze price movements, identify patterns, and spot potential entry and exit points. Traders can customize their charts with various drawing tools and technical indicators to suit their trading preferences.
• News Feed: IG provides real-time news updates from leading financial news sources, keeping traders informed about the latest market developments, corporate announcements, and geopolitical events. The news feed is integrated into the platform, allowing traders to stay updated without having to switch between different sources.

Education

In terms of education, IG offers a range of resources aimed at helping traders improve their trading skills and knowledge:

• Webinars: IG hosts regular webinars conducted by industry experts, covering a variety of trading topics, strategies, and market analysis techniques. These webinars provide valuable insights and practical tips to help traders enhance their trading performance.
• Trading Courses: IG offers comprehensive trading courses designed for traders of all experience levels, from beginners to advanced. These courses cover a wide range of topics, including technical analysis, fundamental analysis, risk management, and trading psychology.
• Video Tutorials: IG provides video tutorials that walk traders through various aspects of trading, platform features, and trading strategies. These tutorials are easy to follow and provide practical guidance on how to navigate the markets effectively.
• Trading Guides: IG offers a collection of trading guides and eBooks covering topics such as forex trading, CFD trading, stock trading, and more. These guides provide in-depth insights into different aspects of trading and offer practical tips and advice for traders.

Overall, IG’s research and educational resources are comprehensive and accessible, providing traders with the tools and knowledge they need to succeed in the financial markets. Whether traders are looking to stay informed about market developments or improve their trading skills, IG offers a wealth of resources to support their journey.

FAQs

Is IG regulated?
Yes, IG is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC) in Australia, and the Swiss Financial Market Supervisory Authority (FINMA) in Switzerland.

What trading platforms does IG offer?
IG offers a range of trading platforms, including the IG Trading platform, MetaTrader 4 (MT4), and MetaTrader 5 (MT5). These platforms are available for desktop, web, and mobile devices, providing traders with access to a wide range of markets and trading tools.

What financial instruments can I trade with IG?
IG provides access to a diverse range of financial instruments, including forex (FX) pairs, indices, commodities, stocks, cryptocurrencies, and more. Traders can choose from thousands of markets across different asset classes to diversify their portfolios and explore trading opportunities.

What account types does IG offer?
IG offers different account types to suit the needs of various traders, including CFD trading accounts, spread betting accounts, and share dealing accounts. Each account type has its own features, benefits, and trading conditions, allowing traders to choose the one that best fits their trading preferences.

How do I open an account with IG?
To open an account with IG, simply visit the IG website and click on the “Create Account” or “Join Now” button. You will be prompted to fill out a registration form with your personal details, after which you will need to verify your identity and fund your account to start trading.

What are the deposit and withdrawal options available with IG?
IG offers a variety of deposit and withdrawal options, including bank transfers, credit/debit cards, electronic payment methods (such as PayPal and Skrill), and even cryptocurrency payments. Traders can choose the method that is most convenient for them and follow the instructions to fund their account or withdraw funds.

Does IG offer a demo account?
Yes, IG offers a demo account option for traders who want to practice trading without risking real money. The demo account simulates real market conditions and allows traders to test out different trading strategies and familiarize themselves with the platform’s features before transitioning to live trading.

What kind of research and educational resources does IG provide?
IG offers a variety of research and educational resources to help traders improve their trading skills and stay informed about market developments. These resources include daily market analysis, economic calendars, webinars, video tutorials, trading guides, and more.

Does IG offer customer support?
Yes, IG provides customer support to assist traders with their inquiries, technical issues, and account-related questions. Customer support is available via email, phone, live chat, and social media channels, and is accessible 24/5 to cater to traders from different time zones.

Is there a minimum deposit requirement to open an account with IG?
Yes, IG has a minimum deposit requirement that varies depending on the type of account you choose and your country of residence. Traders can check the specific minimum deposit amount for their account type and region on the IG website or contact customer support for assistance.

Customer Support

IG prioritizes customer satisfaction by offering a range of support options and services tailored to assist traders with their inquiries and technical issues. Traders have access to various communication channels to seek assistance in their preferred method.

Live Chat: IG provides live chat support, allowing traders to connect with customer support representatives in real-time. Accessible through the IG website and trading platforms, the live chat feature offers prompt responses to questions and concerns, facilitating efficient issue resolution.

Email Support: Traders can reach out to IG customer support via email. The broker provides dedicated email addresses for different types of inquiries, including technical support, account verification, and general inquiries. The email support team aims to respond promptly and provide detailed assistance to traders’ concerns.

Phone Support: IG offers phone support during business hours, enabling traders to communicate directly with support agents. The phone numbers for IG customer support are available on the broker’s website, allowing traders to discuss their issues or questions in detail with knowledgeable support agents.

FAQs and Knowledge Base: IG maintains an extensive FAQ section and knowledge base on its website, covering various topics related to trading, account management, and platform features. Traders can find answers to common questions and solutions to issues by browsing through the FAQs and articles, facilitating self-help and troubleshooting.

Overall Impression

IG demonstrates a commitment to providing excellent customer support services to its clients. With multiple channels of communication, including live chat, email, and phone support, traders can access assistance conveniently. The prompt and effective customer support contribute to enhancing the overall trading experience, fostering trust and confidence in IG’s services. Additionally, the comprehensive FAQ section and knowledge base empower traders to find solutions independently, further enhancing their trading journey.

Conclusion

Information and Features

Trading Features

Further Information

Contact Information