IG is a research-driven forex broker based in the UK, that provides spread betting and CFD trading, with a comprehensive package of trading tools and top-notch educational resources. With that, the forex broker delivers a vast range of tradeable assets, regulatory compliance and extensive customer support, also being regulated in eight Tier-1 jurisdictions.
IG minimum deposit
There is no minimum deposit requirement to open a trading account if you deposit into your account via bank transfer. While bank transfers might take time, IG has the option for its clients to pre-credit their accounts immediately if they can provide evidence of payment. However, IG broker requires a $300 minimum deposit if you fund your account using a credit/debit, or PayPal card. As a result, IG can have a bigger or smaller entry barrier for beginners compared to other brokers, depending on the funding method.
Is IG safe?
IG, founded in 1974, is widely recognized as safe, trustworthy, and secure, and it conforms to the most stringent data privacy requirements. In addition to having a high trust score, IG is publicly listed and operates under Tier-1 regulators in a number of countries. ASIC, the FCA in the UK for IG Markets Limited (IGM) and IG Index Limited (IGI), BaFin in the EU for IG Europe GmbH, and JFSA in Japan for IG Securities Ltd, to name a few. IG US LLC (IG US) is registered with the CFTC. Because of its long history, reputation, and responsibilities as a publicly traded firm, IG is regarded as one of the safest brokers.
IG Account Options
IG is a leading online trading provider that offers traders access to opportunities across thousands of financial markets in which investors can trade using several account options. This summary provides a concise overview of the essential details for traders interested in the account with IG Markets. Before opening an account, potential users should carefully review the specific terms, conditions, and features offered by IG Markets to ensure they align with their trading preferences and goals.
|Broker Type||IG spread betting and CFD trading|
|Platforms||MetaTrader 4, MetaTrader 5, XM App|
|Account Currency||USD, GBP, EUR (+7 More)|
|Funding/Withdrawal||Multiple methods, €o-€300minimum|
|Spread||As low as 0.0 pips|
|Interest on margin||No|
|Accounts for money managers (MAM, PAMM)||No|
|Free Demo Accounts||Yes|
|Accepting US clients||No|
Trading Account Types
For traders, IG offers many account categories. The IG Standard Account, the Turbo24 Account, the Limited Risk Account, and the IG Markets Options are among these.
IG Markets Standard Account
This is the obvious choice for casual traders and operates under a variety of regulators, including BaFin, FCA, and FSCA among others. It provides access to the Forex, indices, cryptocurrencies, stocks, and commodities. markets with floating spreads starting at 0.6 pips and overnight rollover fees on open positions. Trade sizes start at 1 micro lot which is good for beginners and has a low leverage of 1:20 (MAS), 1:30 (BaFin, FCA, ASIC, DFSA), and 1:50 (NFA). The platforms it offers are the WebTrader, IG Markets Mobile App, MT4, L2 Dealer, and ProRealTime are the platforms available.
IG Markets Turbo24 Account
Because it is regulated by BaFin, this account is ideal for European dealers. It trades Forex, indices, equities, and commodities, with floating spreads beginning at 0.6 pips. A rollover charge is imposed on open positions for successive days. Accounts are only accessible to nationals of Ireland, France, Germany, Spain, Italy, Sweden, the Netherlands, and Norway; genuine account with a $300 minimum deposit that includes WebTrader, IG Markets Mobile App, MT4, L2 Dealer, and ProRealTime.
IG Markets Limited Risk account
This is the best account for trading with limited risk exposure offering Forex, indices, cryptocurrencies, stocks, and commodities and being regulated under ASIC, FMA, FSCA, FINMA, etc. Spreads begin at 0.6 pips, with Trade sizes starting at 1 micro lot and rollover fees apply to open trades, while offering the same trading platforms as above. Leverage: MAS up to 1:20, ASIC and DFSA up to 1:30. It has a special feature that doesn’t allow traders to lose more than the initial amount necessary to begin the deal, as all of the positions will be assured to end.
IG Markets Options Account
This is for traders preferring options and is regulated under BaFin (Germany’s Federal Financial Supervisory Authority). Offers 17,000+ trading assets such as barrier and vanilla options on currency, indices, equities, and commodities. Overnight trades are subject to spreads beginning at 0.6 pips and rollover costs. IG Markets WebTrader, Mobile App, MT4, L2 Dealer, and ProRealTime are among the trading platforms accessible. Leverage is available for vanilla options up to 1:30 and barrier options up to 1:100, while it makes no mention of a minimum deposit and allows you to deposit an unlimited quantity of funds.
IG Broker Pros and Cons
Advantages of trading with IG Broker
- High trust ratings, runs under the regulation of 6 Tier 1 regulatory bodies.
- Access to a diverse range of extensive education material and learning resources
- There is a mobile version for IOS and Android for trading on the go
- Availability of approximately 20,000 tradeable assets.
- The broker takes advantage of segregated accounts to store investor funds
- IG broker has been operating since 1974 and is currently publicly listed.
- Availability of market news, technical news and advanced charting tools
Disadvantages of trading with IG Broker
- No account protection or guaranteed stop losses for U.S. clients
- Inactivity fee of $20/£12/€14 per month after 2 years of inactivity
- High share-CFD fees
- The interface does not have predefined layouts
IG Broker Platform Reliability & Security
IG is an excellent forex broker when it comes to reliability, funds safety and trade execution. You will have 99% of all your trades processing in under a second and won’t face any order retrieving issues. Having over 20K tradeable assets under one roof makes it convenient for all traders, and enables investors to have a diverse choice of investment vehicles. IG comes with the L2 Dealer DMA and the MetaTrader 4 platform. This has expanded beyond limits on how traders access trading features and charting software tools. However, the broker has made up for its lack of both features by availing a vast selection of features to boost usability. For instance, charting tools on IG open from almost any view, traders can steam bid/ask prices or even display real-time market prices.
Client funds are safe on IG because the broker utilizes segregated bank accounts. These accounts ensure operational funds and customer funds are in separate storage. Complying with Tier 1 regulators like the Financial Conduct Authority among others gives investors more confidence to trade forex with the IG broker. This means traders can rest assured that the broker will play by the rules when handling their finances.
IG has also been at the forefront of providing educational resources and learning materials across a wide selection of formats including written articles, videos, guides, blog posts, webinars and online courses. These resources are available on the IG Academy where you study, complete questions and track your learning progress. In addition, the platform also offers a dedicated smartphone application where traders can learn on the go. On IG, traders can connect with over 64K members engaging with the platform’s educational content.
IG User Experience
IG excels with its web interface platform flagship which comprises a wide selection of features. Furthermore, the forex broker offers the popular L2 Dealer DMA platform, MetaTrader 4 platform and the ProRealTime charting software interface. For IG, usability and simplicity have been the key to its design and trading interface. The proprietary web-based platform combines powerful trading features and tools so that you can view charts, real-time market prices and live bid/ask rates from any view.
IG has also committed part of its efforts to educating traders and ensuring they are updated. Even at a basic level, starters have access to the IG Academy and a comprehensive suite of blog posts, videos and research materials. Users can also select live technical analysis to help them stay on top of the market trends. Besides, there is also an integrated risk-management module to prevent high risks, protect customers from zero balance and help manage their investments.
Charting features on the IG platform are versatile and advanced. The default charts comprise advanced functionalities and the ability to add over 4 alerts to at least 10 indicators. Apart from the 5 available charts, IG offers a unique feature only available on its platform – the Tick chart. Traders can resize, zoom in and view price charts across different time zones as well. Traders love the precision by which they can drag the stop-loss or take-profit order when using the charting features available on IG.
The ProRealTime charting software is a third-party platform available on IG in the United Kingdom. This software provides over 100 indicators and supports trading signals and automated trading strategies. A subscription to ProRealTime will set you back at $30 per month. However, you will enjoy highly customizable chart tools, automated strategies you can personalize and floating windows.
Yes, IG is safe, trustworthy, and secure and observes the highest data privacy measures. Apart from having a high trust score, IG is publicly listed and operates under Tier-1 regulators across multiple countries.
IG came into inception in 1974 by founder Stuart Wheeler. Today, IG broker is owned by IG Markets Limited and incorporated in New Zealand by the Financial Markets Authority.
IG Markets operates under several Tier 1 global financial bodies including The Monetary Authority of Singapore, the Australian Securities and Investment Commission, the Commodity Futures Trading Commission, the Swiss Financial Market Supervisory Authority and the European Union MFiD.
The minimum deposit on IG is $250. Which is pretty high for newbies and forex starters who would want to learn and test.
The minimum withdrawal amount on IG markets is €100. Check the table below for a reference of other withdrawable assets on the platform.