IG Review 2024
General Overview
Established in 1974, IG Markets has grown into a leading name in the online trading industry. Offering access to over 17,000 markets, including forex, CFDs, shares, indices, commodities, and cryptocurrencies, it caters to a wide range of traders, from individuals to institutions. IG Markets is known for its comprehensive tools, research, and educational resources, making it a top choice for traders of all experience levels. Operating in 17 countries, the broker serves over 313,000 clients globally.
Trust & Safety
When selecting a broker, ensuring it is well-regulated and secure is critical for protecting your investments. IG Markets, with its long-standing reputation, is regulated by several top-tier authorities such as the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). These regulations ensure transparency and adherence to high industry standards. IG also offers measures like segregated client funds and negative balance protection, providing a secure trading environment, especially for clients in the UK and EU. However, US clients should be aware that some protections, like negative balance protection, may not apply.
Is IG Regulated?
Yes, IG Markets is thoroughly regulated by multiple top-tier financial authorities. These include the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). Additionally, it holds licenses from other authorities such as MAS in Singapore and FINMA in Switzerland. This widespread regulation ensures that IG operates with transparency and meets high standards in the financial industry.
Is IG Safe?
Yes, IG is considered a safe platform for traders worldwide. It safeguards client funds by keeping them in segregated accounts at tier-one banks, ensuring that these funds are not mixed with the broker’s operating capital. UK and EU clients benefit from negative balance protection, preventing losses beyond their deposited amounts. However, US clients should note that negative balance protection is unavailable, which could mean owing more than their account balance in extreme cases.
Fees
IG Markets provides a competitive and transparent fee structure designed to cater to both novice and seasoned traders. The broker earns primarily through tight spreads across a broad range of instruments, including forex, CFDs, and commodities. Unlike some competitors, IG does not charge commissions on most trades, keeping costs low. There are no fees for standard deposits or withdrawals, though credit card deposits may incur a small fee. With minimal fees and extensive market access, IG is an appealing choice for cost-conscious traders.
Trading Platforms
IG Markets provides a robust selection of platforms to accommodate various trading styles. With access to over 100 forex pairs and diverse assets like cryptocurrencies and commodities, traders can explore multiple opportunities. IG also supports popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing advanced charting, technical analysis, and automated trading capabilities. Additionally, IG’s mobile app ensures traders can manage trades and access real-time market data on the go. The wide range of platforms ensures flexibility for traders at all levels.
IG MetaTrader 4 (MT4)
IG supports MetaTrader 4 (MT4), one of the most popular trading platforms, known for its advanced charting tools and automated trading features. MT4 offers a user-friendly interface combined with powerful functionalities, making it suitable for both novice and experienced traders. The platform also supports expert advisors for automated trading, giving traders more flexibility in executing strategies.
IG MetaTrader 5 (MT5)
For more advanced traders, IG offers MetaTrader 5 (MT5), an upgrade over MT4 with additional order types, enhanced charting tools, and advanced trading features. MT5 is ideal for traders seeking more sophisticated tools to analyze markets and execute complex strategies. It provides a broader range of technical indicators and customizable chart options, making it a popular choice for seasoned traders.
IG Mobile Trader
IG offers a mobile trading platform available on iOS and Android devices, enabling traders to manage their accounts and execute trades from anywhere. The app provides a streamlined trading experience, allowing users to access real-time market data, monitor positions, and execute trades with ease. This flexibility makes it ideal for traders who need to stay connected and manage their portfolios on the go.
Tradable Instruments
IG Markets offers a vast selection of tradable assets, making it ideal for traders looking to diversify across global markets. With more than 100 forex pairs, including major, minor, and exotic currencies, traders have plenty of options. The platform also supports cryptocurrency trading with assets like Bitcoin and Ethereum via CFDs, allowing users to speculate on price movements. Additionally, IG provides access to commodity markets, including precious metals, energy, and agricultural products, giving traders flexibility to explore different asset classes. This wide range of instruments makes IG a comprehensive platform for global trading.
Forex Pairs
IG offers more than 100 forex pairs, including major, minor, and exotic currencies. This variety enables traders to diversify their strategies across different markets. Whether focusing on popular pairs like EUR/USD or exploring more volatile currencies, IG provides ample opportunities for traders of all skill levels to trade across a wide range of forex markets.
Cryptocurrencies
IG offers the ability to trade in various popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. These assets are available as Contracts for Difference (CFDs), which enable traders to speculate on the price movements of these digital currencies without the need to actually own them. By trading CFDs, traders can take advantage of both rising and falling markets, potentially profiting from price fluctuations without dealing with the complexities of owning and storing the actual cryptocurrencies. This makes cryptocurrency trading accessible and flexible for a wide range of traders.
Commodities
IG offers traders a broad selection of commodities, including precious metals like gold and silver, energy resources such as oil and natural gas, and agricultural products. Traders have the option to trade using spot prices, which reflect the current market value, or futures contracts, allowing them to speculate on future prices based on their strategy and risk tolerance. This extensive range of commodities provides ample opportunities for traders to diversify their portfolios and capitalize on different market movements, making IG a versatile platform for global commodity trading.
Account Types
IG Markets offers a variety of account types tailored to meet different trader needs. The Standard Account is suitable for retail traders, requiring a minimum deposit of $250 and providing access to a wide range of markets with competitive spreads. The Professional Account is designed for experienced traders, offering higher leverage with fewer regulatory protections. IG also provides an Islamic Account for traders adhering to Sharia law, offering swap-free trading. These account types cater to various trading styles and preferences, ensuring a suitable option for all traders.
Standard Account
The standard account is perfect for retail traders, requiring a minimum deposit of $250 and providing access to IG’s vast market offerings, including forex, CFDs, and cryptocurrencies. This account features competitive spreads and offers regulatory protections like negative balance protection, making it an excellent option for traders at all levels.
Professional Account
The professional account is available to experienced traders who meet specific criteria. It offers higher leverage but comes with fewer regulatory protections, such as the loss of negative balance protection. This account type is suited for seasoned traders who can manage the additional risks associated with increased leverage.
Islamic Account
IG also provides an Islamic account, designed to comply with Sharia law by offering swap-free trading. This account allows traders to trade without paying or earning interest on overnight positions, making it a suitable choice for Muslim traders.
IG Leverage
Leverage options at IG vary based on the account type and region. Retail traders typically have a maximum leverage of 1:30 in the EU, while professional traders can access leverage up to 1:200.
Customer Support
IG provides customer support through various channels, ensuring traders can access help when needed. Support is available 24/5 through live chat, phone, and email, allowing clients to resolve issues during market hours. IG’s customer service team is known for being responsive and helpful, making it easy for traders to get assistance with technical issues, account management, or general inquiries about the platform.
Allowed Countries
IG accepts traders from several countries, including the UK, Australia, and Singapore. However, US clients are restricted to forex trading only, and some regions like Canada and Belgium are excluded due to regulatory restrictions.
Education
IG offers a robust educational suite designed to help traders enhance their knowledge and skills. This includes webinars, tutorials, articles, and an IG Academy that covers everything from beginner trading basics to more advanced strategies. The educational content is well-structured, allowing traders at all levels to learn at their own pace and apply new knowledge to their trading activities. The IG Academy is particularly useful for beginners who are looking to build a solid foundation in trading.
Education
While IG Markets does not offer the traditional deposit bonuses seen at some brokers, it focuses on long-term incentives that reward active traders. High-volume traders benefit from reduced spreads, which can significantly lower costs over time. Rather than one-time bonuses, IG emphasizes providing ongoing perks that enhance trading conditions and profitability for regular users. These features make IG particularly attractive for traders who prioritize cost-efficiency over short-term promotional offers.
Deposit Bonus
Although IG doesn’t provide a standard deposit bonus, the broker offers other incentives to traders. A key feature is the reduction in spreads for traders who meet certain trading volume requirements. This offers an excellent way for frequent traders to reduce their trading costs and increase profitability. Rather than focusing on one-time bonuses, IG’s ongoing incentives reward consistent activity, making it an ideal broker for traders looking for long-term benefits and savings on trading fees.
No comment yet, add your voice below!