IG Markets Logo

The broker, generally known as the IG group, is a platform founded since 1974 as one of the most important in the CFD trading market. It carries out long-term operations and has a good reputation throughout its history, due to its good work providing security to its customers, IG also managed to enter the US market recently. Being in operation this long makes IG a very credible broker, and that is shown as they boast having more than 178,500 customers.

Pros

·        It is a platform with over 40 years of experience.

·        There are more than 16,000 markets that in which the trader can get into. This is a massive amount of available products. 

·        A free demo account with multiple benefits.

·        Mobile trading platform with alerts, calendars and easy access.

·        Amazing research provided.

 

·        MT4 platform is available.

·        Traded on the FTSE 250.

·        Personal account manager provided.

Cons

·        The fees are higher than the average broker.

·        The customer service is slow.

 

·        The education material is not as good as the other brokers in the market for active traders.

Overall Ranking

Overall

Investment Opportunity

Commissions & Fees

Safety 

Research

Smartphone Usage

Customer Service

Education

Platforms & Tools

4/5
4.5/5
3.5/5
5/5
5/5
4/5
3/5
3.5/5
4/5

Overall

4/5

Investment Opportunity

4.5/5

Commissions & Fees

3.5/5

Safety 

5/5

Research

5/5

Smartphone Usage

5/5

Customer Service

4/5

Education

3.5/5

Platforms & Tools

4/5

Extended Review and Information

The first overseas office that the company was able to open was in Australia, Melbourne, 2002 and launched a Swiss bank in Geneva in 2014 and in Zurich in 2018. His next foreign office was in Dubai in 2015 and it will soon open a new one in Shanghai, China. Its headquarters are in London, United Kingdom. It is recorded that the company serves more than 195,000 customers worldwide covering more than 150 markets.

Despite its good reputation. Considering a good broker in matters of customer safety and even market prices, this broker has significant shortcomings in other areas that are just as important as those mentioned above.

IG does look after its most important clients with the utmost respect and best possible service and benefits, it would be great if this was also emulated with lower-level clients. They do offer a personal manager for the first 90 days, as well as a free demo account to new traders, but this may not be long enough to help the newer traders flourish.

In addition to this, IG provides one-to-one help and guidance to any client who needs some aid in getting used to their platform and the products available. This service is provided in many different languages.

How to Open your Account

As you may know, you need to visit the home page and click the green button that says Create Account. After that, IG will ask a couple of questions, they will also ask for your personal details as well as which products you are looking to trade in your account. They will also ask about your financial status and your trading experience.

 

Once you answer all the questions, you will be able to choose whether if you want a CFD account, a spread betting account or maybe a share account, depending on your needs. It is great that they offer a spread betting account, as not many brokers have this service available. After completing this information, traders are asked to submit additional information necessary to verify the identity and to make sure that all the process is totally safe. That means you can choose from one of the following three options: Passport, photo IDs to prove identity, as well as one utility bill or bank statement.

Overall, the process has been stated as only taking 3 minutes. This is much faster than many other brokers.

Trading Instruments Available

IG has a wide range of options to trade to all its customers, as its services cover more than 16,000 markets. This broker has one of the largest trading availability that we have seen.

One of the main ones are the indices. Here, customers can place operations in different types of indices, such as cash, futures indices, indices denominated in GBP and finally, micro indices. Brokers often miss out offering indices so broadly, but IG makes sure to include it all.

The shares also occupy a good place on the platform, customers can negotiate more than 8,000 CFD of international shares. And of course, they have dozens of CFD currency pairs. In the market, the most popular are EUR / USD, AUD / USD, GBP / USD and USD / JPY.

 

The cryptocurrencies are not left behind in the market, traders can buy and sell CFDs on bitcoin, Ethereum, ripple and Litecoin without any problem. This is a truly great selection of cryptos.

Deposits and Withdrawal Methods

IG accepts all major depositing methods, and they mostly arrive in the account instantly. To find the most relevant information on IG’s deposits and withdrawals, please see their website. 

Interface

IG has a mobile application for its traders which works for both Android and iOS and can be used both on their phones and on their tablets. Its functions include personalized observation lists, price alerts and, of course, technical graphics. Although the list of indicators is complete, it is omitted from the menu structure, and this is a counter to the application since it reduces accessibility. However, it also has a “menu” of signals that tells the trader, sales and purchases of third parties. Unfortunately, it is an application that lacks customization, but it does offer revolutionary Face ID security that comes with the smartphones, making your account easily accessible and safe.

Education and Research

IG provides regular market research updates to all clients, and it has to be said that it is very useful to both experienced and new traders, and it truly is accessible to those with little trading knowledge. We could not fault this service as it perfectly keeps all in the loop on current events and market movements. The education, on the other hand, is lacking quality for the professional trader, but it is great for both new and intermediate traders and has a large amount of information available.

IG provides a wide array of courses online, as well as webinars and seminars being offered to clients regularly. We found the webinars and seminars to be of great quality to new traders, and not many other brokers provide this service, especially not as frequently as IG.

Commissions and Fees

Commissions, spreads and fees are a very competitive subject in the market, in this case, the IG broker counts with average spread at .75 pips. They usually charge higher spreads on shares and indices during off-market hours which is something that you don´t always see with brokers, that means that placing trades in those dead periods can be expensive and not lucrative. This is another IG aspect that doesn´t match the needs of usual traders. Overall, we rate them as average with their commissions and fees.

Customer Support

The client support or customer service is based on calls over the U.K, however, it is slow and you don´t always get the responses you need or even a response at all. IG, therefore, turns out to be one of our lowest rated brokers for customer support.

However, the professionalism is spot on, and cannot be faulted at all. To improve, they must improve their speed of connection as well as making sure to follow up on traders to make sure that their issue is resolved.

As mentioned before, IG actually provides amazing customer support to all traders in the sense of getting used to the products and services, as well as giving a personal account manager to clients.

Awards

IG is able to boast many awards over the duration of its existence, as it is always one of the leading brokers for so many different reasons. IG is currently rated the number 1 spread betting and CFD provider.

Regulations and Jurisdictions

IG broker works from Europe to Africa and the Middle East. Here are the regulators which have accepted IG as a safe broker.

·        IG Asia Pte Ltd (Co. Reg. No. 200510021K) this capital market services license is given by the Monetary Authority of Singapore (MAS) in order to negotiate securities and currency exchange operations that can be leveraged, being an exempt financial advisor. It also has an International Enterprise Singapore license that aims to commercialize commodity CFDs.

·        The Financial Conduct Authority (FCA) in the United Kingdom: IG Markets Ltd (registration number 195355) and IG Index Ltd (registration number 114059) regulate financial activity and authorize. On the other hand, the MiFID Directive provides you with a passport, which allows this broker to operate throughout the European Union.

·        We also have that the IG Broker is authorized and regulated by the Australian Securities and investment Commission (ASIC) and has an Australian Financial Services (AFS). The license’s number is 220440.

·        Finally, IG markets owns a Financial Service Providers Register (New Zealand) No. 18923.

Conclusion

Overall, IG is a solid broker, providing great research and fair commissions. We mainly advise joining this broker if you are already experienced and are an active trader, as you will be much more likely to fully benefit from IG’s services. To improve, IG must sort out their customer service and could potentially become slightly more competitive with their commissions and fees. Lastly, one great benefit of using IG is the wide array of trading instruments available, so there really is something for everyone here.

Whilst we believe that for the new traders, there are better platforms out there, IG is a safe broker for all, and it does attempt to cater for all levels of traders and they have a high satisfaction rate with their users. In addition to this, they have been around for so many years and are such a credible broker, that their overall service is clearly unbeaten by many other brokers.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results.

This website and the information provided does not constitute investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results. The information given is a reflection of opinion. Trading CFDs on leverage involves significant risk of loss to your capital.