Looking for an honest and in-depth IG review? You’re in the right place!
At Trade Wise, we’ve spent over a decade reviewing hundreds of crypto and forex trading projects, helping traders make informed decisions.
With millions earned through our own crypto and forex investments, our expertise speaks for itself.
What’s more, we’ve been using the IG.com trading platform for over 15 years and know it better than anyone!
In this review, we’ll break down everything you need to know about IG, from its features to its pros and cons, so you can decide if it’s the right platform for you.
Let’s dive in!
Introduction
IG has been a dominant name in the trading industry for over 50 years. As a globally recognized forex broker and provider of advanced trading solutions, IG delivers a robust trading experience for traders of all skill levels. This IG review 2024 will explore the platform’s strengths and weaknesses, helping you determine if IG is the right broker for your trading needs.
Whether you’re new to trading or a seasoned investor, this article provides a detailed, unbiased look at IG’s features, platforms, and offerings. By the end, you’ll have all the information you need to make an informed decision about trading with IG.
What is IG and How Does It Work?
Founded in 1974, IG Markets Ltd is a London-based forex and CFD broker offering traders access to global markets. IG provides a range of trading products, including:
- CFD trading: Trade price movements on forex, shares, commodities, indices, and options.
- Spread betting: Tax-free trading for U.K.-based traders.
- Share trading: Access to over 13,000 shares, ETFs, and bonds.
- Smart Portfolios: Managed investment solutions powered by BlackRock.
- Futures Contracts: Trade futures across commodities, indices, and currency pairs.
With over 17,000 markets available and a reputation built on reliability, IG stands as one of the leading forex brokers worldwide.
Why IG is Trusted by Traders
- Regulated by the Financial Conduct Authority (FCA) in the U.K. and other top-tier authorities.
- Over 345,000 traders use IG globally.
- Listed on the London Stock Exchange (IGG), ensuring financial transparency.
- IG is a public company that adheres to the highest ethical standards.
Is IG Safe? Understanding IG’s Regulations
Security and regulation are critical when choosing a forex and CFD broker. IG is authorised and regulated by multiple bodies, including:
- FCA (U.K.)
- ASIC (Australia)
- MAS (Singapore)
- FINMA (Switzerland)
Client Fund Protection
- Segregated Funds: IG ensures your funds are kept separate from company accounts.
- Negative Balance Protection: Available for retail traders to prevent losing more than their deposits.
- Know Your Customer (KYC) and Anti-Money Laundering: IG complies with strict KYC and AML regulations to ensure secure trading.
With such robust regulatory backing, IG provides traders with a secure environment to trade forex and CFDs.
IG Trading Platforms: Web Platform, Mobile App, and Tools
IG provides a variety of platforms designed to meet the needs of different traders.
Web-Based Trading Platform
The web platform is user-friendly and customizable, offering:
- 28 technical indicators (MACD, RSI, Bollinger Bands).
- 19 drawing tools for analysis.
- Stops and limits to manage risk effectively.
- On-chart notes for advanced trade analysis.
Mobile App
The IG mobile app allows for trading on the go and is available on both iOS (4.6★ rating) and Android (4.4★ rating). Key features include:
- Touch ID authentication.
- Price alerts and notifications.
- Real-time charting tools.
- Seamless margin trading for flexible positions.
- Usability tailored to currency pair trading.
Third-Party Integrations
IG also supports advanced tools like:
- MetaTrader 4 (MT4) for forex and automated trading.
- ProRealTime for advanced charting and futures contracts.
- TradingView for professional-grade visual analysis.
With a range of trading platforms and tools, IG ensures you have everything needed for an optimal trading experience.
What Markets and Products Are Available at IG?
IG provides an extensive range of financial instruments across global markets, including:
Trading Products
- Forex Trading: Trade over 80 forex pairs, including major, minor, and exotic currencies.
- CFD Trading: Access indices, shares, commodities, bonds, and options.
- Spread Betting: A tax-free option for U.K. traders to trade derivatives.
- Share Dealing: Buy and sell over 13,000 shares and ETFs.
- Smart Portfolios: Managed investments tailored to your financial goals.
- Futures Contracts: Trade futures across asset classes like commodities, indices, and forex pairs.
Market Highlights
- Indices: 80+ global indices (S&P 500, FTSE 100, etc.).
- Commodities: Metals, energies, and agriculturals.
- ETFs: 6,000+ funds.
- Options (Finance): Flexible option contracts on stocks and indices.
- Cryptocurrency: Limited to professional traders.
IG offers unparalleled access to global markets, ensuring traders can diversify their portfolios effectively.
Pros and Cons of Using IG as Your Broker
IG Pros
- Regulated by top-tier authorities like FCA.
- Wide range of markets: 17,000+ instruments.
- Industry-leading trading platforms and tools.
- Free demo accounts for practice.
- Fast execution with 13ms average speed.
- Advanced tools like MT4 and ProRealTime.
IG Cons
- Cryptocurrency trading is restricted to professional traders.
- Inactivity fee for investing accounts after prolonged inactivity.
Comparing IG with Competitors: How IG Stands Out
When we compare IG to other brokers, it excels in several critical areas, but it also faces competition from strong industry players. Here’s how IG compares to key competitors:
1. IG vs CMC Markets
- Strengths of IG: IG provides access to over 17,000 instruments compared to CMC Markets’ 12,000+. IG also offers robust education through IG Academy.
- Weaknesses: CMC Markets offers slightly lower spreads on forex trading, making it a better choice for cost-sensitive forex traders.
2. IG vs Saxo Markets
- Strengths of IG: IG’s trading platforms, including MT4, ProRealTime, and TradingView, are highly customizable, whereas Saxo Markets focuses on its proprietary platform. IG also has a lower minimum deposit of £50 compared to Saxo’s higher entry requirements.
- Weaknesses: Saxo Markets excels in advanced trading for professional and institutional investors with more extensive access to bonds and derivatives.
3. IG vs eToro
- Strengths of IG: IG is more suitable for advanced traders due to its execution speed (13 milliseconds) and deep market access. IG provides spread betting, which eToro does not offer.
- Weaknesses: eToro outshines IG in social trading features, making it more attractive to beginner traders who want to replicate successful strategies.
4. IG vs Plus500
- Strengths of IG: IG offers superior trading platforms and tools, including options for futures and advanced charting tools like ProRealTime. IG also supports greater market depth and analysis.
- Weaknesses: Plus500 has a simpler interface with fewer tools, appealing to beginners looking for basic CFD trading without complexity.
Summary of How IG Stands Out
- Market Access: IG offers over 17,000 instruments, including forex, CFDs, indices, shares, options, and futures contracts.
- Trading Platforms: IG’s integration with MetaTrader 4, ProRealTime, and TradingView gives it a competitive edge for advanced analysis.
- Execution Speed: IG achieves an impressive average execution time of 13 milliseconds.
- Education: IG Academy remains one of the most comprehensive educational resources available, ensuring traders improve their skills.
While competitors like Saxo Markets, eToro, and CMC Markets have their own strengths, IG delivers a versatile offering that balances advanced tools, market access, and education for traders of all levels.
What Are IG’s Fees and Minimum Deposits?
Minimum Deposit
- £50 for card and Apple Pay transactions.
- No minimum deposit for bank transfers.
Trading Fees
- Forex Spreads: EUR/USD from 0.6 pips.
- Share Dealing: £0 commission for U.S. shares.
- Options Contracts: Low fees for listed options.
- CFD Trading: Competitive spreads with no added commission.
Other Charges
- Deposit Fee: £0.
- Withdrawal Fee: £0.
- Inactivity Fee: £24 quarterly fee for share dealing accounts.
IG Customer Reviews and Reputation
IG is well-regarded among traders for its reliability and performance.
- Trustpilot Rating: 3.7★ from thousands of customer reviews.
- Positive Feedback: Users praise IG’s platforms, execution speed, and educational tools.
- Criticism: Limited access to cryptocurrency for retail traders.
IG Academy: Education and Resources for Traders
The IG Academy provides valuable tools for both beginner and advanced traders.
- Free Courses: Covering forex, CFDs, options, and technical analysis.
- Webinars: Live sessions with trading experts.
- Risk Management: Learn strategies for managing risk effectively.
Is IG the Best Forex Broker for You?
IG is an excellent choice for traders who value:
- Regulation and trustworthiness.
- Wide access to global markets.
- Cutting-edge trading platforms and tools.
- Comprehensive education through IG Academy.
Whether you’re a retail investor or professional trader, IG provides the tools and support to succeed.
11. Frequently Asked Questions (FAQs)
Is IG regulated and safe to use?
Yes, IG is regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the U.K., ASIC in Australia, and MAS in Singapore. IG ensures secure trading with segregated client funds and compliance with anti-money laundering standards.
What is the minimum deposit at IG?
The minimum deposit is £50 for card and Apple Pay transactions. Bank transfers do not require a minimum deposit.
Does IG offer cryptocurrency trading?
IG provides cryptocurrency trading exclusively for professional traders. Retail traders do not have access to crypto markets.
What trading platforms are available at IG?
IG offers a range of platforms, including its own web-based trading platform, the IG mobile app, MetaTrader 4 (MT4), ProRealTime, and TradingView.
What financial instruments can I trade with IG?
You can trade forex pairs, CFDs, indices, shares, commodities, options, ETFs, futures contracts, and smart portfolios.
Is there an IG demo account?
Yes, IG provides a free demo account for traders to practice and test strategies risk-free.
How does IG Academy help traders?
IG Academy offers free courses, webinars, risk management tools, and step-by-step guides to help traders improve their knowledge of forex, CFDs, and other financial instruments.
If you’re looking for more options, here are some other brokers to consider:
