IG Review 2018

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IG was established in the UK in 1974 and is one of the biggest CFD providers in the world. It is regulated by 7 financial authorities. IG's parent company, IG Group is listed on the London Stock Exchange but doesn't have a banking background.

As a plus

IG's web and mobile trading platforms are simple and user-friendly. The customer service is helpful and gives relevant answers. The provided research is great, especially when compared to other CFD brokers.

On the flip side

IG's trading fees are high, especially when you trade with lower amounts. The product portfolio is limited and in most countries, it offers only CFD trading. It does not provide negative balance protection, an important security feature when you trade with leveraged products.

Recommended for traders with any experience level aiming for a great and easy-to-use trading platform.

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IG review
Investor protection and regulation

IG is a fully licensed UK broker which is regulated by 7 financial authorities globally. IG Group, the parent company of IG, is listed on the London Stock Exchange. The group does not have any banking background.

IG operates in several countries with different entities. These entities are subject to a given regulator and the clients are entitled to various protection amount. Most of the Europeans clients are eligible for FCA's protection scheme up to £50,000. This is significantly higher than the usual €20,000 protection amount in Europe.

Country of clients Protection amount Regulator Legal entity
Most of the Europeans country £50,000 Financial Conduct Authority

IG Markets Limited

Switzerland CHF100,000 Swiss Financial Markets Supervisory Authority IG Bank S.A
Singapore No protection Monetary Authority of Singapore IG Asia Pte Limited
Japan No protection Japanese Financial Services Authority IG Securities Limited
USA No protection CFTC North American Derivatives Exchange, Inc
South Africa No protection Financial Services Board IG Markets South Africa Limited
United Arab Emirates No protection Dubai Financial Services Authority IG Limited

It is important to know that binary bets are regulated by the Gambling Commission, rather than by the FCA. So if you use this product you won’t be protected by the financial protection scheme.

IG doesn't guarantee negative balance protection. They only offer to close your position if your account equity doesn't cover your margin requirement.

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IG review
Account opening

The account opening process is fast and fully digital. However, there is a $300 first-time deposit and the sales team is very pushy.

Who can open an account with IG?

IG serves clients across five continents and you can open an account from almost anywhere in the world. Do you live in Antarctica, Norfolk Island or Vanuatu? No problem, you can open an IG account.

We've listed the larger eligible countries below.

List of eligible countries at IG in IG Review

Minimum funding requirements

The minimum first-time deposit is $300 or equivalent in other currencies. 

Account types

In most countries, you can open only CFD accounts. In the UK, you have the possibility to trade with stocks by opening a second account. 

IG provides tax-efficient accounts, like ISA or SIPP, only in the UK.

You have to open a separate account for smart portfolios, that is IG's robo advisory type of service. Here is a £500 minimum account balance. 

There is also a demo account, so you can try the IG platform with paper money.

Account base currencies

Some major and also a couple of minor currencies are available, but IG does not provide official information. You should contact their customer service if you plan to open an account with a minor base currency. We managed to open an account in Hungarian Forint (HUF).

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Account opening process

The account opening process is straightforward and the initial registration only takes five minutes. Registration is followed by identification, which is fully digital. You have to email your personal documents to IG, choosing from the following three options:

  • Passport
  • Two government-issued photo IDs
  • One government-issued photo ID and one utility bill or bank statement

It is a nice touch that you can start exploring the trading platform straight after registering and you don’t have to wait for identification to be completed.

During account opening process the IG sales team reached out very frequently to deposit and it could be frustrating.

Screenshot of required documentation by IG

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IG review
Funding and withdrawal

You have several options to transfer money. The transfer process is user-friendly and fast.

Funding options

At IG you can choose from three options for funding your account: 

  • Bank transfer: transfer has to come from your own bank account, practically from a bank account with the same name as your IG investment account. The transfer can take up to three business days and is free of charge.
  • Credit/debit card: a required minimum amount is applied here which differs between currencies: £250, €300, $300 etc. Accepted cards are:
    • Debit cards: Maestro, Visa-Delta, Solo, Electron. European debit card funding is free of charge, while a 1.5% transfer fee is applied to non-European debit cards.
    • Credit cards: Visa and MasterCard. For credit cards, a 1.5% transfer fee is applied, which we think is very high.
  • PayPal: just like with credit cards and some debit cards there is a required minimum fund and a 1.5% transfer fee is applied.

Withdrawal options

You can choose from two options for withdrawal:

  • Bank transfer: it can take up to three business days. For international transfers, a £15 withdrawal fee is applied. In the UK you can have a same-day sterling payment, CHAPS, and it also costs £15.
  • Credit/debit card: it usually takes three to five business days. The minimum withdrawal amount is $150 or equivalent. Keep in mind that you cannot transfer money to a MasterCard issued outside the UK. 

We tested the bank transfer withdrawal and received the money within 2 business days.

More funding and withdrawal info

IG review
Product portfolio

At IG, most clients can only trade with CFDs, but the CFD offering is the best among CFD brokers. UK and some other clients have the possibility to trade with shares and a robo-advisory service is available for them as well.

Available asset classes:

  • Equities
  • CFDs
  • Smart portfolios only for UK clients

IG's CFD product range is quite large and includes:

  • Equities
  • Indices
  • Forex
  • Bonds
  • Options
  • Futures
  • Cryptos

Compare product portfolios

Equities

You can trade with equities if you are from one of the following countries:

  • UK
  • Ireland
  • Malta
  • Cyprus
  • the British Virgin Islands
  • Cayman Islands
  • Gibraltar
  • Guernsey
  • Isle of Man
  • Jersey

All the stocks which are contained in the following stock indices are available for trading:

Region Stock indices
UK FTSE 100, FTSE 250 and many other small cap UK stocks
US S&P 500, NASDAQ 100 and many other small cap US stocks
Germany DAX, HDAX, MDAX
Ireland ISEQ
Netherlands AEX
Belgium BEL 20
Austria ATX, WBI
Australia ASX/S&P 300

CFDs

With CFDs, you can trade with leverage. The level of leverages differs from product to product:

Product type

Max leverage

Equities

20
Indices 200
Forex 200
Options Not transparent
Commodities Not transparent
Cryptos Not transparent

The level of leverage, unfortunately, cannot be changed.

Equity CFDs

With IG you can access 25 equity markets with roughly ~10,000+ stocks. Just to give you a feeling, eToro offers only ~3,300 stocks. Here are the exchange lists offered: 

SHARE CFDs
Europe Americas Asia / Pacific / Africa

LSE (UK)

 

NASDAQ (USA)

ASX (Australia)

IOB (UK)

NYSE (USA)

Tokyo Stock Exchange

Xetra (Germany)

AMEX (USA)

HKEX (Hong Kong)

Euronext (Paris)

TSX (Canada)

SGX (Singapore)

Euronext (Amsterdam)

 

JSE (South Africa)

Euronext (Brussel)

   

Euronext (Portugal)

   

WBAG (Austria)

   

SIX (Switzerland)

   

OMX (Denmark)

   

BME (Spain)

   

OMX (Finland)

   

ISEQ (Ireland)

   

MIB (Italy

   

OSE (Norway)

   

OMX (Sweden)

   

Index CFDs

At IG, you can trade with 68 indices including the largest markets. It's a great product coverage compared to Plus500's 23 or eToro's 12 indices.

Index CFDs
Europe Americas Asia / Pacific / Africa Other
UK Large-cap (FTSE 100) S&P 500 Hong Kong (Hang Seng Index) US Dollar Basket (ICE NYBOT Dollar Index)
UK Mid-cap (FTSE 250) Wall Street (DJIA 30) Japan (Nikkei 225) Volatility Index (VIX)
Germany (DAX) US Tech 100 (NASDAQ 100) Australia (S&P/ASX 200) EU Volatility Index (VSTOXX)
Belgium (BEL 20) Russel 2000 China 300 (Shanghai Shenzen CSI 300 index future plus fair value)  
Euro 50 (Dow Jones Euro STOXX 50) Mexico 35 (MEX BOLSA IPC) China H-Shares (Hang Seng China Enterprises Index)  
Germany Mid-cap (MDAX) Brazil 60 (BMF IBOVESPA) China A-50 (FTSE/Xinhua A50 Index future plus fair value)  
Germany Tech (TecDAX)   India 50 (CNX Nifty Fifty)  
Greece (FTSE/ATHEX Large Cap)   Singapore Blue Chip (MSCI Singapore Free Index)  
Hungary   South Africa 40 (FTSE/JSE Top 40)  
Italy (FTSE MIB)   Taiwan Index (MSCI Taiwan)  
Netherlands (AEX)   Malaysia 30  
Norway (OBX)      
Portugal (PSI 20)      
Spain (IBEX 35)      
Sweden (OMXS30)      
Swiss Blue Chip (SMI)      
Techmark (FTSE techMARK 100)      

Forex CFDs

IG offers 94 currency pairs, including major and minor ones. This is great compared with ~70 at Oanda, ~59 at Plus500 or ~55 pairs at Markets.com.

Bond CFDs

IG's bond CFD range includes US, Japanese, and large European government bonds. This is unique among the CFD brokers as most of them, e.g. Plus500 or eToro, don't provide bond CFDs. 

Bond CFDs
Europe US Asia / Pacific / S Africa
German Bobl, Bund, Buxl, Schatz Treasury Japanese Govt Bond
OAT French Govt Bond T-Note (2, 5 & 10-yr)  
Long-term BTP Italian Govt Bond    
UK Long-term & Short-term Gilt    

Option CFDs

Don't expect a wide offering. You can trade with major stock indices, commodities, and currencies. For the full list of IG index, forex, and commodity options check their website.

Commodity CFDs

IG offers 47 commodity CFDs compared to Plus500's 17 or Oanda's 8. 

Commodity CFDs
Energy Metals Soft
Oil - Brent Crude Spot Gold Cocoa (London, US)
Oil - US Crude Spot Silver Coffee (Robusta, Arabica)
Heating Oil Spot Palladium Orange Juice
Carbon Emissions Spot Platinum Cattle (Feeder, Live)
London Gas Oil High Grade Copper Lean Hogs
Natural Gas Iron Ore Cotton
No Lead Gasoline   Rapeseed
    Lumber
    Sugar (No.5, No.11 World)
    Wheat (London, Chicago, Milling)
    Corn
    Oats
    Rough Rice
    Soybeans
    Soybean (Meal, Oil)

Crypto CFDs

You can trade with the following cryptocurrencies:

  • Bitcoin
  • Bitcoin Cash
  • Bitcoin Gold
  • Ethereum
  • Ripple
  • Litecoin 

For those who come from the crypto world, it might be a surprise that you can’t withdraw or fund cryptocurrencies. This is because with CFDs you don’t own the underlying asset, in this case, the cryptocurrency itself. Learn more about crypto CFDs from our crypto blogpost.

IG Smart portfolio review

The smart portfolio is one of the newest IG products. In a smart portfolio, IG provides ETF portfolios managed by BlackRock, the issuer of iShares ETFs. This is basically a robo-advisory service, where you can choose from automatically managed low-cost portfolios.

IG review
Fee structure

IG has pricey trading fees, but competitive financing rates.

IG is not the cheapest broker when it comes to trading. This is especially true for smaller trades since it has quite high minimum trading fees.

It also has a complicated and in some cases non-transparent fee structure.

Trading fees

Within the trading-related fees, IG has three different fee structures:

  • Trading commission for share CFDs, option CFDs and real shares,
  • Implicit fee built into the spread for non-share CFDs. In this case, you don't need to pay a trading commission.
  • Asset management fee for Smart Portfolios.

Just to make it a bit comparable, find below the cost of a typical IG trade and for two other CFD brokers. A typical trade for Apple and BMW means a $2,000 trade, holding the position for one week, and then sell. It is a $20,000 position with the same conditions for the EURUSD. 

Cost of a typical trade, USD IG eToro Plus500
EURUSD 12.3 12.3 14.3
Apple 31.7 3.0 9.0
BMW 24.6 8.6 10.0

Share CFDs

When you trade with share CFDs, IG will charge a trading commission.

Share CFDs STANDARD TRADING FEE MINIMUM FEE
USA & Canada    
USA $0.02 per share $15
Canada $0.03 per share CAD 25
Europe / Middle East / Africa    
UK 0.10% £10

Austria, Belgium, Finland, France, Germany, Italy, Netherlands, Portugal, Spain

0.10%

€10


 

Denmark 0.10% DKK 100
Norway 0.10% NOK 100
Sweden 0.10% SEK 99
Switzerland 0.10% CHF 10
Greece 0.48% €25
South Africa 0.20% ZAR 100
Asia / Pacific    
Australia 0.10% A$8
Singapore 0.10% SGD 15
Japan 0.20% JPY 1500
Hong Kong 0.25% HKD 100
Other    
International Order Book (IOB) 0.15% $15

Index, forex, commodity and bond CFDs

All of IG trading fees are built into the spread. No trading commission is charged.

Index, forex, commodity and bond CFDs Usual spread
FTSE 100 0.1
Euro Stocks 50 1.5
USA 500 0.4
USD/EUR 0.75
GBP/USD 1.34
Spot Gold 0.3
Spot Silver 2
Oil US Crude 2.8
Spot German Bund 2

Option CFDs

Share option CFDs Commission / Contract
USD share option $5
EUR share option €3
CHF share option CHF3
GBP share option £10
CAD share option $6
AUD share option $5

Crypto CFDs

Crypto CFDs Minimum spread
Bitcoin (USD) 70
Ether (USD) 8
Ripple (USD) 1
Litecoin (USD) 1,5

Check out our crypto blog post, to learn more about crypto trading.

Real shares

If you are from the UK and some other countries, you can trade with shares as well. Average commission of a trade is 0.1% or minimum €10. For the full cost table, visit IG's website. If you also have a CFD account and you made at least one trade in the previous month, each of your UK share trades will cost £5 (UK clients).

Smart portfolios

If you invest in IG's Smart portfolios, you will pay a "Total Cost of Ownership" fee, consisting of two components: the cost of the underlying ETFs and the management fee.

Average ETF cost is 0.22%, although this may vary based on your exact allocation. Management fees are charged in layers and will be lower when you invest more. 

Smart portfolio charges £0-£50,000 £50-£250,000 £250,000 and over
Average ETF costs Avg. 0.22% (range: 0.20-0.23%)
Management fees 0.65% 0.35% 0.10%
Total cost of ownership 0.90% 0.60% 0.35%

Compare broker fees

Non-trading fees

IG has an okayish non-trading fee structure.

Account fee No
Inactivity fee £12 / month after 2 years of inactivity
Financing rate (overnight charges) 2.5% over the relevant interbank rate. For mini and micro contracts charge is 3% over the interbank rate.
Conversion fee 0.3%
Deposit fee No
Withdrawal fee £15 withdrawal fee for international transfers
Custody fee No

If you hold your position for more than one day you should keep an eye on overnight fees, aka. financing rates applied. Find below a comparison with eToro and Plus500.

Financing rate (overnight fee) IG eToro Plus500
EURUSD 3.0% 1.8% 3.4%
Apple 4.4% 4.9% 11.4%
BMW 2.1% 6.9% 9.7%

For forex futures the financing charge is based on the current tom-next rate. The historical and the actual tom-next rates are not transparent at all.

IG review
Web trading platform

IG's platform is great and easy to use. Even beginners can get familiar with it in short time.

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IG has an older and a newer web trading platform. We reviewed the older version since the new one is not available in all countries.

Look and Feel

It is definitely an easy-to-use platform for more experienced traders, but starters might need some time to become familiar with the functions. The default platform view may seem a bit crowded and overwhelming at first. The window is built up of panels, including:

  • A search functionality
  • Prices
  • Your positions
  • Additional features such as charts etc.
  • Deal tickets
  • Your watchlist and alerts

You can easily customize by dragging and resizing the tabs.

Login and security

The login process is a one-step login – a two-step authentication would be useful here, although this isn’t currently available.

Search functions and charts

The search functionality (top left tab called “Finder”) works as you would expect. You can also browse available investment options by looking through the investment categories in the list below the search bar.

IG Review: IG's search function, screenshot #1IG Review: IG's search function, screenshot #2

If you're into technical analysis, you'll like the chart tool. You can add several technical indicators, make your own drawings and trend lines and set alerts based on technical indicators. You can also save these charts, but only in a picture format.

IG Review: a chart on IG's trading platform

You can find research and chart services provided by IG's third-party partners. ProRealTime is a charting tool that is free of charge if you trade at least four times a month. Otherwise, it has a monthly £30 fee. The Aurochartist is an automated chart pattern recognition tool that comes free of charge with your account. Trading Central is a company that provides trading tips based on technical analysis. This service is free of charge as well.

Placing orders

You can select from several order types and two order terms, although not all of them are available for every tradable instrument or country.

Orders can be placed online or by phone. Beware that placing orders by phone is more expensive.

How to make an order on IG's web trading platform - A screenshot in Brokerchooser's IG review

Order types:

  • Limit order
  • Market order
  • Stop loss order
  • Trailing stop order
  • Guaranteed stop order

You might not be familiar with guaranteed stop orders, which are specific to IG. If you use guaranteed stop you will be safe from any slippage costs (IG guarantees that your order will be executed at the stop price). Of course, nothing’s for free, IG will charge you a premium for using guaranteed stop orders.

Trailing stop orders work as an automated service, which you can opt for all your trades. You cannot choose which trades you want to use it for, you either go “all in” and apply it to all your trades, or you can't use it at all.

The order form can be a bit confusing at first: market orders can be made via the “Deal” tab, while all other orders are made through the “Order to open” tab.

Order terms:

  • Good-till-date order
  • Good-till-cancel order

Alerts and notifications

At your own profile setting alerts and notification can be done in the following way: MyAccount -> Settings -> Notifications.

You can choose from the following alert and trade/deal notifications

  • price alert (prices reach an important level)
  • indicator alert (technical tools reach an important level)
  • economic alert (big economic announcements)
  • automated or manual deal opening/closing
  • automated or manual position editing

Portfolio and fee reports

When you go to your live account dashboard, you can easily see the main performances of your account. On the right tab, you see its history which shows you all costs and return. However, you don't have an aggregated view of your sub-accounts. 

Visit web platform page

IG review
Mobile trading platform

IG's mobile trading platform is simlarly great as its web platform.

IG’s mobile and tablet apps are available for Apple, Android and Windows devices. As an extra, you can also view your account and even trade using your Apple watch.

IG’s mobile platform is a lot more intuitive than the web trading platform.

Screenshot of a the menu in IG's mobile trading platform - IG Review by Brokerchooser

The platform uses the same login details as the web platform. You can’t use the web and mobile platform at the same time, so if you log in to one, your other platform will automatically log out.

The most important functionalities are:

  • Watchlist and alerts
  • Portfolio information
  • Technical indicators
  • Transaction and account history
  • Security orders
  • Money transfer orders

Technical analysis on IG's mobile trading platform - Screenshot by Brokerchooser

The availability of technical analysis is a nice feature, although it's not a perfect fit for mobile. One thing we miss is the news section. You can access news specific to a security by viewing the security, but there’s no centralized newsfeed.

Visit mobile platform page

IG review
Desktop trading platform

IG has 3 desktop platforms. This can be confusing, so first, you need to figure out which one is the right for your needs.

You need to make another registration if you want to use one of the three desktop platforms:

  • L2 Deale
  • ProRealTime
  • MetaTrader4

L2 Dealer is IG’s own trading platform, while ProRealTime and MetaTrader4 are provided by third-party partners. You can use them all for free, although the L2 Dealer is subject to a minimum balance of £1,000 and ProRealTime costs £30 per month which is refunded if you make at least four trades per month.

We recommend L2 Dealer for advanced share traders, ProRealTime for advanced technical chartists and MetaTrader4 for forex and index specialists. CFDs are provided on all three platforms, but share dealing is only available on L2. In MetaTrader4 you can only access forex, oil and metal CFDs. Thomson Reuter's news streaming is only available in L2 Dealer.

When it comes to using your own automated trading strategies, all of the desktop platforms will do the job, but only MetaTrader4 can handle excel plugins.

Metatrader trading platform screenshot in IG review by Brokerchooser

We tried setting up desktop trading platforms and, well, let’s say it’s a bit of a challenge. For MetaTrader4 there were two options for logging in, one of which worked and one of which didn't, and we found no guidance about which one to use.

Visit desktop platform page

IG review
Research

IG offers a wide range of research information and tools.

IG has pretty good and useful research functions on news, and technical and fundamental analysis as well. The only missing piece of the puzzle here is a dedicated research team that could provide you analysis and recommendations in all of the asset classes.

IG review: how to research market data on IG - Screenshot

The market data function is a useful all-in-one research platform. You can reach this function from the web platform but it functions as a separate research portal. It allows you to search information on stocks, indices, and even commodities. On top of the actual bid-ask prices and an interactive chart of the selected financial product, you can find the following:

  • Related news
  • Client sentiment and trading activity
  • Chart patterns for indices
  • Top movers in an index
  • Broker recommendations for stocks
  • Historical fundamental data for stocks

You can access stock fundamental data from the last five years. Unfortunately, this data cannot be downloaded to excel where you would be able to analyze it further.

The economic calendar is a well-developed research function that you can use to search for both macroeconomic and company events. The function is approachable from both web and mobile platforms.

Doing Research on IG's platform: Economic Calendar - Screenshot in the IG Review by Brokerchooser

The Market screener tool is really useful if you are searching for stocks based on some fundamental factors. For example, you can set up a screen where you search for companies from the US financial sector, above USD 1 billion market cap and with a dividend rate higher than 2%. You can only access this function from the web platform.

IG's market screener in their web trading platform - Screenshot by Brokerchooser, part of IG Review

IG has a pretty good news function that is powered by Thomson Reuter's. You can search for relevant news in 10 languages: English, German, French, Spanish, Portuguese, Italian, Russian, Swedish, Chinese and Japanese. You can get to the news function directly from the web platform. There is no search function on the mobile platform but you can find related news of one financial instrument. 

News search in IG web platform's research module - Screenshot by Brokerchooser

The trading diary is a unique function where you can add notes to your daily trading activities.

On IG's website, you'll find some additional research opportunities as well. If you don't want to chase the news you can sign up for a weekly or daily newsletter and get a summary of the next week's most important events, expert's opinion, and trading opportunities. IG Live is a video center where you can watch the latest videos on the market, upcoming events, expert opinions and more.

More research info

IG review
Education

IG offers good educational functions. You can enroll courses, sign up for webinars or watch educational videos.

At IG you'll have more options to educate yourself:

  • online courses
  • webinars
  • educational videos

You can also sign up for upcoming webinars or download the IG academy app. We tested technical tools on the platform and each indicator had a short description of how that works. Reading short descriptions or watching educational videos really help the better understandings of the functions.

Visit education page

IG review
Customer service

Call center gives you relevant and fast answers, representatives are well prepared.

You can reach out IG's customer service by e-mail, phone, and live chat. The e-mail service is available 24/7 which is really good. The live chat and email support services are helpful and reliable. 

The customer support is usually available in your local language, but for some emerging countries, like Romania, only English customer service might be available. You should check this with IG customer service before opening an account.

After you open your account you'll have a dedicated account manager, but ours was hardly available when we tried to contact him. Some of the contact phone numbers from the help and support page didn't work either.

IG operates 14 sales offices around the globe where you can meet them in person. They have offices in Chicago, London, Dublin, Madrid, Paris, Stockholm, Geneva, Milan, Johannesburg, Düsseldorf, Luxembourg, Dubai, Singapore, Melbourne, and Tokyo.

The help, support and FAQ functions on IG's website are a bit underdeveloped. We struggled to find information on even basic topics like available account currencies or withdrawal fees.

Contact customer service

IG review
Bottom line

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG does not have a banking license, but its parent company, IG Group is listed on the London Stock Exchange.

IG has one the best trading platforms Brokerchooser tested. Its customer service is also professional and relevant. IG's research is helpful and broad compared to other CFD brokes.

The biggest drawback is the fee structure that is quite pricey especially when you trade lower amounts. IG's product portfolio is limited to CFDs, however, in the UK and some other countries, stocks are also accessible. IG does not provide minimum balance protection, an important safety feature when you trade with leveraged products, like CFDs.

It is quite easy to experience IG's first class trading platform since the minimum first-time deposit is only $/€ 300 and you can also open a demo account.

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IG logo

IG was established in the UK in 1974 and is one of the biggest CFD providers in the world. It is regulated by 7 financial authorities. IG's parent company, IG Group is listed on the London Stock Exchange but doesn't have a banking background.

As a plus

IG's web and mobile trading platforms are simple and user-friendly. The customer service is helpful and gives relevant answers. The provided research is great, especially when compared to other CFD brokers.

On the flip side

IG's trading fees are high, especially when you trade with lower amounts. The product portfolio is limited and in most countries, it offers only CFD trading. It does not provide negative balance protection, an important security feature when you trade with leveraged products.

Recommended for traders with any experience level aiming for a great and easy-to-use trading platform.

Compare to other brokers

Overall

Pros
  • Easy to use platforms
  • Helpful customer service
  • Great research
Cons
  • High trading fees
  • Limited product portfolio
  • Missing negative balance protection

Investor protection and regulation

Pros
  • Regulated by 7 financial authorities
  • Listed on stock exchange
Cons
  • Doesn't have banking background
  • Doesn't provide negative balance protection

Account opening

Pros
  • Seamless and very quick account opening process
  • Fully digital opening and verification process
  • More base currencies
Cons
  • $300 minimum first-time deposit
  • Sales team is quite pushy, reaching out regularly to fund account
  • Not transparent information (e.g.) which base currencies are available

Funding and withdrawal

Pros
  • Several funding and withdrawal options
  • User-friendly process
Cons
  • Pricey withdrawal fees for some withdrawal types

Product portfolio

  • Equities for UK clients
  • Robo-advisory type of service in the UK

Fee structure

Pros
  • Competitive financing rates
Cons
  • Quite high trading fees
  • Non-transparent forex overnight fees
  • Inactivity fee after 2 years

Web trading platform

Pros
  • Easy to use
  • Good search and research functions
  • Great customization
Cons
None

Mobile trading platform

Pros
  • Well-designed platform
Cons
  • Missing news section

Desktop trading platform

Pros
None
Cons
  • Three different platform is confusing
  • Another registration needed

Research

Pros
  • Wide range of information and tools
  • Very useful market screener for equity screening
  • Deep and historical fundamental data for stocks
Cons
  • Missing research and recommendation on forex and commodities

Education

Pros
  • Several educational tools
  • Easy to understand and well-designed videos
Cons
None

Customer service

Pros
  • Call center speaks the local language in most of the EU countries
  • Call center gives relevant information
Cons
  • Sometimes impossible to reach your dedicated sales representative

AUTHOR OF THIS REVIEW

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager
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