IG review 2023: should you sign up with the broker?

IG Markets is one of the market’s most popular DMA brokers. It provides over 17,000 CFDs and is the leading online CFD provider. IG offers eight account types based on the market you want to trade.

Also, I was amazed to learn about their five trading platforms. In addition, IG Markets is highly transparent about trading strategies.

IG homepage

IG provides spread betting, hedging, scalping, and algorithm trading. IG is one of the most fee-competitive platforms accessible. There are many other things that I love about IG as a trader.

I am going to tell you that in detail later in the article. The IG broker has won several awards as one of the best and the most reliable brokers in the markets.

IG also ranked best overall futures broker in several categories. Plus, it is available in the US, so that’s a big plus.  However, IG accounts are not available for residents of Ohio.

How does IG work?

IG Markets is not just a world-leading trading and online execution platform provider. It also ranks among the most innovative firms. IG offers its clients a diverse range of over 17,000 tradable financial assets. Let’s see how it works.

The primary trading products of IG include forex, CFDs, and options. Yeah! The broker has a broad asset range. Maybe it’s because the firm has a broad target audience in mind. The platform is appropriate for both new and veteran investors. Over 80 FX pairs are available for trading with IG markets.

Forex

• GBP/USD
• EUR/USD
• AUD/CAD
• NOK/JPY
• USD/ILS, and many more.

Commodities

• Oil-US Crude
• Oil-Brent Crude
• Spot Gold
• Spot Silver (50000 OZ)
• Chicago Wheat
• London Sugar.

Indices

• Wall Street
• Hong Kong HS50
• Hong Kong Tech
• US 500
• US Tech 100 and many more.

Stocks

• HSBC Holdings PLC (HK)
• Tesla Motors Inc.
• Walt Disney Co.
• Apple Inc.
• Netflix Inc.
• Vodafone Group PLC

Crypto Currencies

• Bitcoin
• Ether
• Litecoin
• Stellar
• DogeCoin and many more.

It allows you to invest in several asset classes from one platform. But the key point is that traders have to pay attention to the fees brokers offer and the taxes ruled on trade by countries. Another platform that lets you trade assets from around the globe on one platform is Exante.

How does the IG platform work?

I was fascinated to see the available platforms; trading with IG provided me with many options.  The platform is user-friendly for beginners.

Here I have discussed the trading platforms provided by IG. IG remains one of the most popular and prominent online brokers, as it provides a simple and effective trading platform as well as a mobile app.

WEB TRADING PLATFORM

This trading platform is open to all traders seeking CFD trading. Traders can do the following few things with this platform

• Manage their account
• Make payments
• Register their cards
• Deposit or withdraw funds, and a variety of other things.

It also provides browser-based research resources such as

• Economic Calendar
• Finest Forex Signals
• Live headlines.

I also enjoyed the smart settings function, which remembers your position sizes and stop values. Also, the live news feed from Twitter and Reuters is a great way to trade the news and stay up to date on breaking news.

IG news

PROGRESSIVE WEB APP

IG has also introduced a progressive web app. It gives worldwide traders a smooth trading platform. You can utilize it on any device without visiting a third-party app store. IG lets traders obtain some of the most crucial trading updates quickly.

IG trading platform

METATRADER 4 (MT4)

MetaTrader 4 is one of the most prominent third-party platforms. It is available on the website for

• CFD trading
• Automated trading tools
• Sophisticated analysis.

Furthermore, the trader may select from a variety of app add-ons. You can download them for free to trade in

• Forex
• Stocks
• Precious metals
• Indices, and other markets.

PROREALTIME

ProRealTime is one of the major advanced charting programs used on the web.  It provides flexible access, comprehensive analytical resources, and robust monitoring capabilities.

This ProRealTime package is precious for technical chart users. It is accessible to traders who trade CFDs at least four times monthly.

L2 DEALER

L2 Dealer from IG is a free platform that you can download. It is used to trade forex, stocks, and CFDs. They are supported by tools like price alerts, orders, and watch lists. Traders may begin trading with the assistance of technical charts and track price fluctuations at their fingertips.

MOBILE APP PLATFORM

The mobile application is simple to use and understand. It replicates the desktop platform and its compatibilities. The mobile app is hugely beneficial to both novice and experienced traders. It has been improved for both iPhone and Android traders.

I have used the web-based platform to do research and monitor tools. I also accessed the mobile charts, and they were seamless.

IG mobile app

What trading indicators are available?

While trading, I must know the market conditions. Trading indicators help to make the market clear. That’s why trading indicators are helpful for traders if used correctly. You’ll be surprised to know the number of trading indicators IG offers.

• Aroon
• Average True Range
• Awesome Oscillator
• Bollinger Bands
• RSI and many more.

IG offers ten types of trading accounts, depending on the needs of traders and investors. Every account has its benefits and offers. Let’s check out the accounts in depth. Here’s a list of trading accounts IG offers

Demo account

A demo account has virtual money placed into it. Demo accounts are also available for free. You can use a demo account without any commitment to register a genuine account.

Trading account

The basic IG trading account is available globally, although some terms and limitations vary depending on the country. Negative balance protection, for example, is only provided in the UK and the EU.

Another variable that varies by location is the minimum deposit. The IG Markets trading account allows you to trade 17,000 markets.

Limited risk account

The IG Limited Risk account is similar to the IG standard trading account. However, there are a few distinctions. This IG Markets account type is a solution for non-EU and UK clients.

For those who do not qualify for negative balance protection, the Limited Risk account provides a selection of low-risk markets, as well as guaranteed stop losses and a negative balance protection feature.

Spread betting account

Spread Betting accounts are typically available from FCA-regulated forex brokers. With the Spread Betting account, you can place bets on over 17,000 assets. It offers incredibly tight and competitive spreads beginning at 0.1 pips. IG Markets is one of the most popular spreads betting brokers.

Options trading account

The IG Options trading account is exclusively open to EU residents. This account provides barrier and vanilla options on currency, indices, and commodities. Because barrier options trading has a predetermined amount of loss, it is a suitable place to start for beginning traders.

Vanilla options have a fixed level of risk only when you buy options contracts. However, the risk is not restricted when you sell options contracts.

Turbo24 trading account

The product you trade with this account is called a turbo warrant. This account is available only in the following countries

• Germany
• France
• Spain
• Italy
• Sweden
• Netherlands,
• Norway

Share dealing account

The Share Dealing account may purchase and sell stocks, ETFs, and other products. There are almost ten thousand different shares and funds available. Its cost starts at $3. This account is not available everywhere: it is only available in the United Kingdom and Australia.

Swap-free account

Traders from the Islamic religion can utilize the Swap-free trading account to trade forex. It doesn’t have rollover fees based on interest rates. The trading account is offered to traders registered with IG Markets’ UAE entity.

It allows account applications from everywhere, so you may open the account even if you don’t live in the UAE. Although there are no swap costs, other fees may apply.

Professional account

Do you satisfy the criteria for identifying yourself as a professional trader? Then this account is best for you. You will be able to access greater leverage and variety of products. Last year, I completed an average of 10 large-scale trades every quarter.

Select account

Only professionally certified UK and EU traders are eligible for the Select account. You must satisfy two conditions to be eligible:

• Have an annual gross income of at least €75,000
• Have savings of over €100,000

What are IG spreads?

IG market spreads are competitive, beginning at 0.6 pips on key forex pairs such as EUR/USD. Other trading costs, such as overnight rollover fees, are also charged.

I learned that the details of rolling daily prices and their rules are subject to change. You can find this on the broker’s website. Furthermore, it levies an inactivity fee on inactive accounts.

Does IG offer a demo account?

Do you want an account with no obligations? I wanted that too when I started trading with the IG. The IG demo account is the ideal place to start. It flawlessly replicates live trading.

I used it for three or four months, which worked wonders for me. The demo account with IG Markets never expires. Additionally, I signed up for the demo account hassle-free.

If you are an active trader looking for smaller spreads, IC Markets or Alpari offer this.

Here I’ve mentioned several reasons how and why IG is safe. Also, why do I trust this broker?

Unlike other brokers, you would be amazed to know that multiple countries regulate IG. Yes, IG is regulated by the tier 1 regulators listed below.

• Financial Conduct Authority (FCA) in the UK
• National Futures Association (NFA) in the USA
• Financial Markets Authority (FMA) in New Zealand
• Federal Financial Supervisory Authority (BaFin) in Europe (Germany/Austria)
• Swiss Financial Market Supervisory Authority (FINMA)
• Financial Sector Conduct Authority (FSCA) in South Africa

I don’t think so many authorities and countries regulate any other broker. Your funds are even safeguarded in the case of bankruptcy.

They currently service clients worldwide from 17 sales locations spread over 5 continents.

• Europe
• North America
• Asia Pacific
• Africa
• Middle East.

They have been headquartered in the UK since 1974. The address mentioned on their website is “IG, Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA.” The US address is in Delaware.

IG US location

Who owns IG?

IG is one of the 250 most prominent companies in the United Kingdom. But who made this possible? Who initiated the idea? Want to know? Read the below section.

Stuart Wheeler launched IG in the United Kingdom in 1974. It is now owned by IG Markets Ltd, which is part of the IG Group. It is publicly listed on the London Stock Exchange. It is also a part of the FTSE 250. It is regarded as one of Europe’s most popular CFD trading platforms.

Here are the IG funds deposit methods

• Bank wire transfers
• Paypal
• Credit cards
• Visa
• Debit cards
• Mastercard

According to my experience, credit card payments are processed immediately; bank wire transfers are processed within 2 to 3 days.

How to withdraw funds from the IG account?

An IG withdrawal is made in two steps. Log in to My IG. Click “withdraw funds.”

Click on the “account” you would like to withdraw from. IG offers the following withdrawal methods

• Bank transfers
• Credit cards
• PayPal

Unlike depositing, withdrawing funds can take 2 to 5 working days. I prefer to withdraw funds through Paypal or bank transfers. Withdrawals via Paypal are usually quick.

IG Deposit and withdraw funds

Customers of IG may contact customer service through three primary channels:

• Phone
• Live chat
• Email

Their phone customer service has greater availability than its competitors. If you are a new client, you can contact them 24 hours a day on these numbers:

• Call +44 (20) 7633 5430
• Toll-Free: 1800 889 539

They don’t assist from 6 am to 4 pm on Saturday (UTC+8). You can also email them at sales.en@ig.com. For me, their email service was rapid, precise, and helpful.

If you’re already a client of IG, they will assist five days a week from Monday to Friday.  Call them on these numbers:

• +44 (20) 7633 5431
• Toll-Free: 1800 880 754

However, I was more satisfied with their live chat response.

Currently, IG isn’t offering any promo codes on their official website. But IG gives referral promo codes. Do you know what a referral promo code is?

Whenever you refer a friend from your account to open an account with IG, you share your referral code with them. From this, your friend who is opening an account for the first time will get a discount, and you will also get a discount for referring them. Isn’t it amazing?

Does IG offer bonuses?

This is the only thing that I don’t like much right now. I am glad I traded here earlier and used all their bonuses. I had never thought of using any bonus on just signing up. But here, you would regret not trading with this broker earlier.

IG does not currently provide a sign-up or welcome bonus (2022). IG does not give a deposit or no deposit incentive to first-time sign-ups. But there are still many options to access different bonuses for IG. For that, you need to keep checking their website.

Trading is subject to capital gains tax and stamp duty. If I talk about CFDs, they aren’t subject to stamp duty because you do not own the underlying asset.

Spread betting appears to be completely tax-free. Tax is a bit of a complex subject on IG.

IG tax info

When I started, I knew a bit about this broker. I knew IG was a publicly traded firm on the LSE. So, I wanted to give it a shot, as I had read many positive reviews.

IG resolved my registration concerns within 24 hours. I was having trouble activating my account, and my account manager immediately stepped in to help. I appreciate the excellent customer service offered by IG.

My account manager was professional, and I never felt uncertain because of his extensive knowledge and skills. He then led me through the final steps of setting up my account, including depositing funds.

I found the entire process quite simple, and IG addressed any issues or questions I had. Let’s see what others are saying about IG.

1. Is IG a real broker?

Yes, and it is one of the oldest. IG was founded in 1974 and is publicly listed (LON: IGG) and licensed in six tier-1 jurisdictions, making it a safe broker for FX and CFD trading.

2. Which brokers are better than IG?

There are many brokers that offer lower trading fees than IG and are also highly regulated. These include Interactive Brokers and TD Ameritrade. You can check their reviews here.

3. Is IG a US broker?

IG is a London-based forex broker that provides accounts in the United States. IG’s US subsidiary works slightly differently from the parent company. For instance, spreads are higher for US traders.

4. Does IG charge a monthly fee?

IG offers direct market access (DMA). DMA is not chargeable by IG while trading CFDs in currency or shares or when trading through a share-dealing account. You must pay a monthly exchange charge to get current DMA prices for shares listed on particular exchanges.

5. Is IG better than eToro?

I have used both brokers, and in my view, IG outperforms eToro. IG overshadows eToro in trading platforms, trading tools, education, and research.

6. Can you day trade on IG?

Yes, you can! Day trading on IG works like other brokers. To begin day trading with IG, you must fund your account with a minimum of £250. Aside from that, the cost of day trading will be influenced by the markets you choose to trade and market conditions.

Final thoughts

So, there you have it!  We’ve gone into the depths of IG. For me, IG outshines and outperforms plenty of forex brokers. The trading platforms are excellent, and the overall trading experience is good.

I hope this review was informative and time-saving for you. If you are looking for forex brokers other than IG, you can check the complete list of brokers here. For another regulated broker similar to IG, see OvalX.

Visit »

It is one of the best international brokers. Different types of assets, convenient and reliable platform, favorable trading conditions. Want to know more? Click here.