IG Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Established in the late 1900s, IG is an online forex trading broker that offers its services to users worldwide. This IG review will focus on trading instruments, regulations, deposit and withdrawal methods, spreads and leverage. It will also explore how to open an account, fees, trading platform and safety measures provided by the broker on clients’ investment funds.

Regulated By

Regulated By

FCA, BMA, ASIC, BaFin, JFSA, MAS, FINMA, DFSA & FSCA

Used By

Used By

313,000+ Clients

Established in

Established in

1974

Visit Broker

72% of CFD accounts lose money.

Spreads From

EURUSD 0.6 pips

What Can You Trade on IG

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Trading Platforms

DesktopMobileMT4

Funding Methods

Wire TransferVisaMaster CardBPay

IG Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Established in the late 1900s, IG is an online forex trading broker that offers its services to users worldwide. This IG review will focus on trading instruments, regulations, deposit and withdrawal methods, spreads and leverage. It will also explore how to open an account, fees, trading platform and safety measures provided by the broker on clients’ investment funds.

  • author Chidera Ogbuagu
  • Last updated 12/12/2023

72% of CFD accounts lose money.

Regulated By

Regulated By

FCA, BMA, ASIC, BaFin, JFSA, MAS, FINMA, DFSA & FSCA

Used By

Used By

313,000+ Clients

Established in

Established in

1974

Spreads From

EURUSD 89 Points

Trading Platforms

DesktopMobileMT4

What Can You Trade on IG

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardBPay

IG Overview

IG was founded in 1974, by Stuart Wheeler, as a spread betting business under the then name IG Index (an abbreviation for Investors Gold Index). It is a London based multi-broker; an offspring of the parent company, IG Group Plc. It offers its services to users in Europe, Asia and the rest of the world. Regulated by a host of regulatory bodies around the world, the broker offers its 313,000 active users access to over 18,000+ trading instruments. These instruments include 100+ indices, 12+ major cryptocurrencies, 205+ currency pairs, 12,000+ shares, 35+ commodities, options, 5,400+ ETFs, knock-outs and bonds. It is a member of the FTSE 250 Index and has shares traded on the London Stock Exchange.

IG Main Features

Minimum Deposit$50
RegulationFCA, BMA, ASIC, BaFin, JFSA, MAS, FINMA, DFSA & FSCA
Spreads0.6
Tradable Symbols18,000+
Number of Pairs205+

The account opening process of the broker is relatively lengthy but straightforward. It involves submission of up to 3 documents for verification. It charges nothing for account creation, however the minimum deposit on all accounts is $50 (or the equivalent) if depositing by card. 

This IG review will look into more details about fees, account types, trading platforms and mobile apps, account opening procedures, verification processes, deposits and withdrawals, spreads, leverage, customer support, and many more.

Pros

  • Advanced Web Trading Platform
  • Impressive Educational Material & Research Tools
  • Low Spreads
  • Very Advanced Trading Platforms
  • Broker Security
  • A Wide Range of Financial Markets
  • Competitive Rates
  • Accepts U.S. Clients

Cons

  • Lengthy Account Opening Process
  • No MT5 Platform
  • High Non-Trading Fees
  • No Back-testing or Copy Trading on the IG Platform

IG Regulations

Numerous top financial regulatory organisations in the globe have authorised and regulated IG. It’s one of the UK’s top-tier Financial Conduct Authority (FCA)-regulated brokers, among other organizations. The parent business of IG, IG Group, is also listed as IGG on the FTSE 250 of the London Stock Exchange. The different the broker’s entities and their regulators include:

IG Index Ltd: Located at Cannon Bridge House 25 Dowgate Hill London, EC4R 2YA United Kingdom, this is the entity managing spread betting in the UK. It is authorised and regulated by the FCA. 

  • Registration Number: 114059 

IG International Ltd: This entity is licensed and regulated by the Bermuda Monetary Authority (BMA) and it is located at 16 Burnaby Street, Hamilton HM11, Bermuda. 

  • Registration number: 54814

IG Market Ltd: Also based in Cannon Bridge House, London, this is the entity managing CFD trading and share trading. It is authorised and regulated by the FCA.

  • Registration number: 195355 

IG Australia Pty Ltd: Located at Level 15 55 Collins Street Melbourne VIC 3000, Australia, this entity is authorised and regulated by the Australian Securities and Investments Commission (ASIC).

  • Licence Number: 515106

IG Europe GmbH (‘IGE’): This entity is located at Westhafenplatz 1, 60327 Frankfurt, Germany, and it is regulated by the Federal Financial Supervisory Authority (BaFin).

IG Securities Ltd: This entity is located in Japan at Izumi Garden Tower 26F, 1-6-1 Roppongi, Minato-ku, Tokyo, 106-6026. It is regulated by the Japanese Financial Services Agency (JFSA).

IG Asia Pte Ltd (‘IGA’): This Singapore entity is located at 9 Battery Rd, #01-02 MYP Centre, Singapore 049910. It is regulated by the Monetary Authority of Singapore (MAS).

IG Bank S.A.(‘IGB’): Located at Rue du Rhone 42, Genève 1204, Switzerland, it is regulated by the Swiss Financial Market Supervisory Authority (FINMA), Switzerland.

IG Limited Dubai: This middle east entity is located at 2702 & 2703, Level 27, Currency House, Tower 2, Dubai International Financial Centre, P O Box – 506968, Dubai, UAE. It is regulated by Dubai Financial Services Authority (the ‘DFSA’), Dubai.

IG Markets South Africa Limited: This is the only entity located in Africa and it is at The Place, 1 Sandton, Gauteng 2196 Johannesburg, South Africa. It is regulated by the Financial Sector Conduct Authority (FSCA), South Africa.

Supported Countries

IG has more than 300 thousand clients worldwide, inclusive of clients in: the United Arab Emirates, Germany, Norway, Sweden, Italy, Denmark, Australia, China, France, Singapore, Spain, Sweden, India, Japan, Poland, South Africa, Switzerland, United Kingdom and most other countries. However, it does not support clients from Nigeria, Philippines, and some other countries.

Available Assets at IG

There are 18,000+ assets on this broker including options such as: forex pairs, cryptocurrencies, shares, ETFs, bonds, commodities and indices. Below is a review of each of IG trading instruments.

Cryptocurrencies

The broker has cryptocurrency CFDs now tradable on their platforms. With 12+ crypto pairs inclusive of: bitcoin, EOS, stellar, ether, litecoin, XLM, NEO, and many others available for trading. IG offers a leverage up to 1:10 to trade on cryptocurrencies. 

Shares

IG offers its clients the ability to trade and invest in 12,000+ international shares. This number is drawn from a range of indices such as the US Tech 100 and UK 100, in addition to shares of companies like Apple, Tesla, Amazon, BHP Group Ltd and companies in other countries like: Germany, Japan, China and more. 

Commodities

Commodities are tradable physical assets such as metals, iron ore, Brent and US crude, natural gas and softs such as coffee, sugar and live cattle. The leverage on gold is up to 1:200 while other commodities have leverage between 1:10 – 1:67.

Indices

IG Markets offers trading on 100+ indices. Available indices include: NASDAQ, DAX30, FTSE100 and Hang Seng. In addition to these are bespoke indices such as a cannabis Index.

Forex Pairs

There are 205+ currency pairs on IG. Inclusive of these pairs are majors (EUR/GBP, AUD/USD, and the USD/JPY pair.), minors (NZD/CAD, USD/ZAR and EUR/JPY.) and exotics (CHF/HUF, NOK/JPY and EUR/MXN.) 

Bonds

Bonds are loans from an investor to a borrower, which could be a company or government. The investor receives interest on his or her investment while the borrower utilises the money to finance operations. IG offers 12 Bonds from the UK, US, Germany, France, Italy and Japan. Its minimum trade size for bonds is £2 per point.

ETFs

ETFs (exchange traded funds) are instruments that track performances of an underlying asset or a group of assets. IG offers users 5,400+ ETFs to choose from. Amongst these are: stock index, currency and other ETF options covering sectors, commodities and share trading.

Options

Options are agreements that grant the holder the freedom, but not the responsibility, to purchase or sell an underlying asset at a particular price if its value increases within a predetermined period of time. The act of buying and selling options is known as options trading. At IG, users get to choose to add options to his or her investment portfolio.

Spreads

The difference between a bid and ask price is known as spread. The spread of all currency pairs and commodities are listed in the table below.

Leverage

Leverage is having the opportunity to open more trading positions beyond the normal capacity of the trading  account balance.

IG global clients can access leverage up to 1:10 on cryptocurrencies, 1:200 on major commodities, 1:200 on indices, 1:200 on forex pairs, and 1:10 on stocks. However, offered leverage defers per region of residence. Clients residing in countries like the US are given a maximum leverage of 1:50 while clients in the UK and EU can only use leverage up to 1:30 on currency pairs. 

InstrumentSpread (From)Leverage (Up to)

FOREX PAIRS

Major Forex Pairs

AUD/USD0.6 pips1:200
EUR/GBP0.9 pips1:200
EUR/USD0.6 pips1:200
GBP/EUR2.0 pips1:200
GBP/USD0.9 pips1:200
USD/CAD1.3 pips1:200
USD/CHF1.5 pips1:67
USD/JPY0.7 pips1:200

Minor Forex Pairs

CAD/CHF2.3 pips1:67
EUR/CHF2.0 pips1:67
EUR/JPY1.5 pips1:200
GBP/JPY2.5 pips1:200
CAD/JPY2.0 pips1:200
CHF/JPY2.0 pips1:67
EUR/CAD2.5 pips1:200
EUR/SGD4.0 pips1:133
EUR/ZAR150 pips1:20
GBP/CAD3.0 pips1:200
GBP/CHF3.0 pips1:67
GBP/SGD5.0 pips1:133
GBP/ZAR200 pips1:20
SGD/JPY4.0 pips1:100
USD/SGD3.0 pips1:133
USD/ZAR90 pips1:20
USD/HKD5.0 pips1:10
AUD/CAD1.5 pips1:200
AUD/CHF2.0 pipd1:67
AUD/EUR1.5 pips1:200
AUD/GBP1.5 pips1:200
AUD/JPY1.3 pips1:200
AUD/NZD2.5 pips1:133
AUD/SGD3.0 pips1:100
EUR/AUD1.8 pips1:200
EUR/NZD3.0 pips1:133
GBP/AUD2.2 pips1:200
GBP/NZD5.0 pips1:200
NZD/AUD7.0 pips1:133
NZD/CHF4.0 pips1:67
NZD/CAD3.5 pips1:133
NZD/EUR1.5 pips1:133
NZD/GBP2.0 pips1:133
NZD/JPY2.0 pips1:133
NZD/USD1.8 pips 1:133

Exotic Forex Pairs

CHF/HUF25 pips1:50
EUR/CZK25 pips1:20
EUR/HUF20 pips1:50
EUR/ILS40 pips1:50
EUR/MXN100 pips1:40
EUR/PLN25 pips1:67
EUR/TRY60 pips1:13.3
GBP/CZK30 pips1:20
GBP/HUF25 pips1:50
GBP/ILS50 pips1:50
GBP/MXN130 pips1:40
GBP/PLN30 pips1:67
GBP/TRY70 pips1:13.3
MXN/JPY0.6 pips1:40
NOK/JPY1 pip1:100
PLN/JPY2 pips1:67
SEK/JPY0.6 pips1:100
TRY/JPY8 pips1:13.3
USD/CZK25 pips1:20
USD/HUF20 pips1:50
USD/ILS50 pips1:50
USD/MXN50 pips1:40
USD/PLN25 pips1:67
USD/TRY50 pips1:13.3
CAD/NOK25 pips1:100
CHF/NOK40 pips1:67
EUR/DKK10 pips1:20
EUR/NOK25 pips1:100
EUR/SEK 30 pips1:100
GBP/DKK30 pips1:20
GBP/NOK50 pips1:133
GBP/SEK40 pips1:133
NOK/SEK 6 pips1:100
USD/DKK 15 pips1:20
USD/NOK25 pips1:100
USD/SEK25 pips1:100

Commodities

Spot Gold3 pips1:200
Spot Silver2 pips1:50
Spot Palladium1.2 pips1:33
Spot Platinum1.8 pips1:50
High Grade Copper20 pips1:50
Iron Ore4.5 pips1:20
Oil – US Crude2.8 pips1:67
Oil – Brent Crude2.8 pips1:67
Heating Oil20 pips1:67
Natural Gas3 pips1:29
Carbon Emissions 3 pips1:10
London Gas Oil0.6 pips1:40
No Lead Gasoline20 pips1:67
Aluminium6 pips1:22
Copper10 pips1:25
Lead 6 pips1:20
Nickel30 pips1:18
Zinc6 pips1:22
Cocoa (London)3 pips1:33
Cocoa (US)4 pips1:22
Coffee Robusta3 pips1:33
Coffee Arabica20 pips1:28
Orange Juice 20 pips1:40
Cattle (Feeder)14 pips1:40
Cattle (Live)12 pips1:50
Lean Hogs10 pips1:28
Cotton 15 pips1:50
LB60 pips1:33
Sugar No. 50.6 pips1:33
Sugar No. 11 World 3 pips1:50
Wheat (London)0.4 pips1:50
Wheat (Chicago)0.6 pips1:67
Corn0.6 pips1:40
Oats0.6 pips1:33
Rough Rice20 pips1:40
Soyabeans1.2 pips1:67
Soyabean Meal40 pips1:33
Soyabean Oil6 pips1:50
Crude Palm Oil12 pips1:10

IG Fees & Commissions

Brokers do charge two kinds of fees, trading and non-trading fees. Just like other brokers, IG fees encompass these categories. In this section of IG review, we will explore the different fees the broker charges. 

Trading Fees

Charges incurred during trading are known as trading fees. They are fees clients must pay while performing any trading activity on the broker. They include spreads, commission and overnight funding. 

Spreads

IG earns primarily through its spread. Spreads are not fixed, therefore are subject to change during the day. While the broker offers its minimum spread in most conditions, it’s worth noting that spreads will increase as market prices go wider. Spread on forex starts from 0.6 pips on major currency pairs such as the EUR/USD pair, 0.8 pips on major indices and 0.1 pips on commodities.

Commission

The broker charges commissions and the percentage of commission charged depends on the particular market traded. In the case of CFD trading, there are no commissions when trading instruments such as forex, indices and cryptocurrencies. However, trading stock CFD will have commission fees. 

Overnight Funding

Overnight funding is the fee payable for holding cash CFD positions through the daily cut-off time. The broker charges an interest adjustment to the client’s account to reflect the cost of funding that position in addition to a small admin fee. 

Guaranteed Stops

Guaranteed stops are safe switches. Users can use this feature to protect their position against slippage with a guaranteed stop. It is available only on premium packages where you have to pay a small fee to activate. It is important to note that IG premium fees do change, particularly as weekends and unstable market conditions draw near.

Non-Trading Fees

These are fees incurred when performing non-trading activities. They include the following:.

Deposit and Withdrawal Fees

IG claims to not charge any deposit fees, unless the funding is done with a credit card or making a same-day transfer of less than £100 or equivalent. Although deposit and withdrawal fees vary depending on your country of residence, for instance, funding by card requires a minimum deposit of $50. All other deposits and withdrawals with other methods are free.

Currency Conversion Fee

This broker charges a currency conversion fee of 0.5% on CFDs traded in a currency from an account’s base currency. Although there is an instant conversion of any foreign currency transaction to your base currency. Funding, commission and dividend charges are calculated by that percentage before the account is credited. 

Inactivity Fee

While there is normally no fee for IG accounts, an inactivity fee of $12 per month is charged to  accounts that remain inactive for two years. Inactive CFD accounts are charged a fee on the first day of every month if no dealing activity has occurred for a period of 2 or more years. This fee is only charged if funds remain in the account.

Account Documentation Fee

Account documentation fee is a fee charged when trading a US-incorporated stock. Users must file a necessary W-8 or W-9 form prior to the dividend ex-date of a qualifying trade when trading US-incorporated stocks. IG charges a $50 fee to traders who cannot submit such documentation; however, those who have current forms are free from the fee.

IG Trading Platforms

Alongside its proprietary trading platform, IG company provides six (6) other trading platforms. These platforms include three (3) basic platforms comprising: an online trading platform, a progressive web app, a mobile app, and three (3) specialist platforms comprising: L2 , ProRealTime, and MT4. The broker allows clients to access the full range of its offerings and functionality by using any of the 6 trading platforms that are available on the web and on mobile. Both iOS and Android versions of these trading platforms are also available for on-the-go traders. Below is a detailed review of these platforms.

Desktop Trading Platform

The IG trading platform is customised to cater to client’s needs. It features user-friendly functions, giving users the ability to set parameters such as: stops and limits, alerts, trade sizes, and more. It also includes key information such as: minimum trade sizes, stop distances, margin requirements, slippage factors and more. On average, the broker claims to have  a speedy response time of 0.014 seconds per trade execution and  hosts over 130,000 users in a month.

Design

The design of the IG trading platform is modern, it’s desktop design have many interesting features and functionality. Several smart settings were incorporated to allow for more optimization and user productivity. Of these interesting features is the live news feed from Twitter and Reuters,  allowing users to keep up on breaking stories even as they trade.

Features

Built with flexibility, the IG trading desktop platform allows users to move windows around to suit their needs. In addition to that, specialised charts can be added to the platform to allow for extra technical analysis. Additionally, the platform allows traders to create a watchlist with their preferred financial instruments in order to ensure ease whilst trading.

Charting Tools

From trend lines, to crosshairs and  zoom tools, we see that IG’s desktop trading platform comes with a suite of powerful built-in tools and customisable features. It is a browser-based trading platform that eliminates the need to download any additional software to it. It also includes stops and limits which helps to: protect profits and reduce risk, set price alerts to notify you when your price is hit, and tear-off charts to view when you close down the platform.

How to Open an Account and Trade on IG Desktop Trading Platform

The broker’s account opening process is quite lengthy. On creating live accounts, clients must complete a verification process. Below are guidelines showing the step by stop processes of registering with the broker via desktop.

  1. Visit the broker’s official website (ig.com) and click on the “create live account” option which is visible on the homepage.
  2. Select your country of residence from the list of options provided.
  3. Choose your preferred account type from the types provided.
  4. On the page that appears, input your first name, last name, choice username, country of residence, email and password. Then click the open option “next”.
  5. Enter your personal details on the tab that appears. This stage entails more details about oneself like nationality, date of birth, contact number and submission of an ID number.
  6. Continue your account opening process by providing your address details and place of residency.
  7. Next, complete the financial details tab. Provide details about your yearly earnings and savings.
  8. Complete the “trading history” tab to progress to the next stage of the account opening process.
  9. Fill the terms and condition page.
  10. Complete the process by verifying your identity and nationality.
  11. Start trading by clicking on the position option, and opening a new position.

Mobile App

IG claims that its mobile app competes with the best in the industry, and comes packed with an array of unique features that will cater to and satisfy both basic and professional traders. Putting the speed and reliability of the trading platform in the palm of users, the mobile app gives traders equal access to 18,000+ tradable assets. However, the mobile app is designed for only android users. IOS users have to use the Progressive Web App (PWA) which runs in mobile browsers. 

Trading Interface

The trading interface of IG’s mobile app decently balances ease-of-use with the depth of its available features and yet ensures functionality. Integrated into the app are news headlines from Reuters, price alerts and customised watchlists. 

Tools

The mobile app offers a wide range of tools, technical indicators; such as Bollinger Bands, Fibonacci retracements and MACD, Real-time market data, Economic calendar and Price alerts. All to allow for smooth trading analysis and implementation. 

Charting

IG mobile app is loaded with over 20 technical indicators and 10 drawing tools. It also includes over 10 selectable time frames across five distinct chart types. Charts are easily set up on the mobile app, although chart indicators that have been added on the web platform (even if saved as presets) will not sync with the mobile app automatically. The app also incorporates fast zooming in and out across time frames. 

How to Open an Account and Trade on IG Mobile App

  1. Download the IG mobile app on playstore.
  2. Select your county of residence.
  3. Next, fill in your name.
  4. Fill in your email.
  5. Next, input a unique username.
  6. Choose a secure password.
  7. Input your phone number.
  8. Fill in your home address.
  9. Up next is identification. Input your DOB, place of birth and nationality.
  10. Next is employment status. Complete this section by entering various information about your employment status, earning and saving power.
  11. Complete the trading experience section.
  12. Complete the terms and condition section to finish the account opening process.
  13. To start trading, click on the “markets” to select the most suitable options to trade.
  14. Start trading by placing an order.

IG Account Types

Taking into consideration the individual needs of both new and professional clients alike, IG offers two other account categories asides demo account to cater to these clients needs. These account categories include: IG CFD trading account and DMA (Direct Market Access) Account. Below is a review of these account types.

Demo Account

With access to £20,000 in virtual funds, IG demo accounts give traders freedom to test and review their trading strategies themselves. Although the account is a practice account with which users can understand and get familiar with various features of Forex trading before committing real funds. Demo account gives traders full access to IG’s mobile app and the online platform.

DMA (Forex Direct) Account

Designed for professional traders seeking more significant discounts than what is offered in the CFD account, the forex direct market access (DMA) account is similar to straight-through processing (STP) and electronic communication network (ECN) trading execution. Users with DMA type accounts are directly connected to liquidity providers. Direct connection means tighter spreads, access to more liquidity, L2 Dealer platform and IG’s fastest trading execution time. IG offers various kinds of DMA accounts, inclusive of: IG Spread Betting account and IG Share Dealing account. 

Standard Account

Standard account type is the basic CFD trading account type. It is best for casual traders, having been customised to suit their very expertise. On the standard account type, users get to access the full IG offerings. 

Professional Account

Professional accounts give a trader access to certain account features that are not available to standard accounts. However, professional accounts come with certain conditions such as: loss of negative balance protection. Professional account holders must also meet at least two of the following three qualifications:

  1. Must have averaged at least 10 leverage transactions of significant size in each quarter of the last four quarters 
  2. Must have at least a year of experience in the financial sector in a professional position and be knowledgeable on derivatives.
  3. Should have a financial instrument portfolio exceeding £500,000.

IG Payment Methods

IG offers its users different payment methods that can be used either for deposits or withdrawals.

Deposit Methods

There are limited payment options on the broker. Options available for deposit include: BPAY, bank transfer, credit cards and debit cards. The minimum deposit via bank card method for clients is $50. Again the minimum deposit amount and charges may vary per deposit amount, deposit method and jurisdiction. Supported currencies for deposits include USD and GBP.

One of the drawbacks affecting IG payment methods is the non-provision of e-wallets. As at the time of this review, the broker does not support e-wallets such as Skrill and Neteller. However, all of the payment methods mentioned above are also available on mobile.

Deposit Methods

Processing Time

Credit cards & Debit cardsInstantly
BPAYInstantly
Bank Transfer1-3 days

Withdrawal Methods

Customers on IG can withdraw their funds using the same ways they deposited – credit cards, debit cards, bank transfer and BPAY. To withdraw funds, customers’ free margin has to exceed the withdrawal amount. The broker does not charge a fee for withdrawals and the minimum withdrawal amount is $150. The broker claims to process withdrawals as speedily as possible; though withdrawal by card may take 2 – 5 working days for the funds to be credited into your bank account. 

How to withdraw Funds from IG

To make withdrawals on IG is quite seamless. Withdrawals are initiated by completing the following steps.

  1. Login to your trading account.
  2. Select the withdrawal option available on the menu. 
  3. Select your preferred withdrawal method and enter the amount you want to withdraw. 

Education at IG

IG pays great importance to its educational content. The broker provides its users with educational courses that have been put together by experienced professionals. These courses also incorporate progress tracking and quizzes. In addition to these is a vast collection of materials, including video, written articles, numerous weekly webinars and guides. It also provides a dedicated mobile app for education, webinars and seminars, which cover various topics and help build traders’ confidence. It also provides a comprehensive glossary section which provides detailed definitions and explanations of various financial terms. It has a social community of over 64,000 members for traders who would rather learn from personal experiences of others.

IG Customer Support

The broker’s customer support is available via a toll-free number, +44(20)76335431, 24 hours a day, except from 6am to 4pm on Saturday (UTC+8). Potential and active clients can speak to a representative of the company via  email, direct phone call, online message (live chat) or use the detailed FAQ section. IG can also be reached on social media channels, such as Facebook, Twitter, Youtube and LinkedIn 

IG Online Reviews

What Reddit Users Say About IG

The Reddit community’s review is quite favourable on IG. Although some clients have no experience whatsoever with the broker, but the ones who have claimed to have no problem trading with it. In their comments, most users appraised the company for the specialist platforms and large number of tradable markets.

What Quora Users Say About IG

The Quora community wholly favours the broker. Most users in their comments praised the broker, saying it is one of the best online trading brokers, best for long-term investment. However, there was a faction who were indifferent to it, having never used it before.

Trustpilot Users’ Review About IG

IG maintains a good reputation among its clients on Trustpilot, cementing its place as one of the best forex brokers. 72% of clients gave the broker a rating of 4 stars and above. Although most users praised the broker for its excellent customer support, fine trading experience and functional trading platforms. Other users complained of trading fees, withdrawal difficulties, withdrawal failures, and account blockages. Nevertheless, the broker holds a rating of 4.1 out of 5 after 5.9k+ reviews on trustpilot.

ForexPeaceArmy Users’ Review About IG

IG’s reputation on ForexPeaceArmy is highly unfavourable. Most clients complain of the broker being a scam broker. Major complaints tow the lines of withdrawal failures and  terrible trading experience. After 174 reviews, IG holds a rating of 1.771 out of 5 on Forexpeacearmy. Nevertheless, some users praised the mobile app.

Is IG Safe?

Asides being regulated by multiple top tier regulatory bodies and doing business in multiple jurisdictions worldwide, IG ensures that its systems, servers and technical environment is always protected and kept in check by teams of expert security and technical operatives. It employs advanced technology and security protocols in protecting clients’ confidential data. Coming to client’s funds and assets, the broker ensures these are equally secured by holding them in segregated accounts at regulated banks under trustee arrangements and ring-fencing from creditors to protect against an unlikely event of liquidation. 

Other Products and Services at IG

In addition to the products and services already discussed, IG offers more. This section will review these extra products and services.

Spread Betting

Spread betting is a tax-free derivative; like binaries, that allow users to speculate and place a bet on the direction of price movement of a financial market, without actually owning that particular asset. With IG’s spread betting option, customers can spread-bet on forex, commodities, shares and more. Although the broker charges commission for spread betting, it also offers reduced minimums for one month when clients open new live spread betting accounts or upgrade from a demo account. 

Bonus and Promotions

IG does offer the usual welcome bonus. However, new sign-ups include free trading capital for making your first deposit. In addition to this is a referral bonus scheme wherein participating clients have their account credited with £100 when a referral makes five qualifying trades. It is noteworthy that these bonuses come with certain requirements.

Trading Signals

Trading signals are ‘buy’ and ‘sell’ recommendations for traders. These signals are based on technical analysis performed on the emerging chart patterns and the occurrence of certain key levels. On the IG platform, traders can observe and copy signals for a wide range of markets and use them to trade, or make trading decisions.

Weekend Trading

The broker offers its users the ability to trade on weekends. With this feature, users can now trade on the IG exclusive 24/7 markets on GBP/USD, USD/JPY, EUR/USD, global indices and cryptocurrencies even on weekends, on a Saturday and Sunday. The trading time for different markets are as follows:

  • Indice – from 3pm on Saturday to 5:40 am on Monday (SG time)
  • EUR/USD, GBP/USD, USD/JPY – from 3pm on Saturday to 3:40 am on Monday (SG time) 
  • Cryptocurrencies and Crypto10 index – from 3pm on Saturday to 5 am Saturday (SG time) 

Bottom Line

We’ve seen in this IG review that in addition to ensuring client security by being well regulated, the broker focuses on protecting clients’ funds and assets by keeping them separate from its capital. The broker also ensures maximum transparency in its dealings by working round the clock to fill clients’ orders. IG offers a proprietary trading platform, through which it offers its users not just a wonderful trading experience, but incorporates extra features to make trading seamless and more efficient across its trading platforms.

The account opening process is quite lengthy, yet straightforward. Although verification must be done before an account is created. The account opening process can be continued if accidentally stopped. IG offers a wide range of 18,000+ tradable assets and 3 account types. It also has multiple payment options; inclusive of bank cards, Bank Transfers and BPAY to allow for easy deposit and withdrawal. Clients are provided with demo accounts to help with gaining trading exposure without fear of loss or risk to real funds, and are given certain pecks like negative balance protection on certain account types. 

There is also an availability of multiple trading tools and indicators, specialist platforms; which support advance charting and DMA trading options. All to enhance clients’ trading experience and help them trade efficiently. The company also features a full fledged FAQs section and a 24/7 customer support to help clients find answers to their queries on an immediate basis.

Q & A

IG was founded in 1974.

Yes, it is regulated by multiple regulatory bodies like FCA, ASIC, BMA, BaFin and others. 

According to customer reviews, IG can be said to be a good broker. 

No, it is not an ECN Broker.

The broker holds a trust score of 99 out of 99 on Forexbrokers, as well as other forex regulatory sites. So, yes, it is trustworthy. 

You can trade up to 205+ forex pairs on the broker.

The maximum leverage on the broker is 1:200 on forex pairs and indices.

Other possible assets that can be traded on IG include: indices, ETFs, commodities, options, energies, and cryptocurrency.

Yes, it offers its users a demo account.

Yes, IG offers its users Spread Betting options. However, spread betting can only be done on IG spread betting accounts.

Yes, clients can trade dividend stocks as part of their portfolio on the broker.

Yes, users can use the MT4 platform on IG.

Yes, the broker does offer a proprietary trading platform. 

IG pays special attention to beginners by incorporating easy-to-understand videos and other educational contents meant to help them understand forex in their education section.

Considering TrustPilot, Quora, Reddit, and other broker review sites, IG Broker has positive user reviews. 

Yes, users can trade indices on IG Broker.

The minimum deposit on IG using a bank card is $50. 

Compared to other brokers, IG maintains a relatively low spread.