The IC verdict
IG is a London-headquartered trading platform founded in 1974, providing access to over 17,000 markets across forex, indices, commodities, shares and cryptocurrencies under regulation from ten top-tier authorities including FCA, ASIC, MAS, CFTC and FINMA.
The complete analysis
IG is a leading global online trading platform known for its wide range of trading instruments, advanced trading tools, and robust regulatory framework. This detailed review covers everything you need to know about IG, from general information and trading features to regulations and customer service. Whether you are an experienced trader or a beginner, this guide will help you decide if IG is the right broker for you.
General Risk Warning
Trading financial instruments such as forex and CFDs carries a high level of risk and may not be suitable for all investors. Before deciding to trade with IG, it's important to understand the risks involved and seek independent financial advice if necessary.
IG Full Review
IG offers a comprehensive suite of trading services designed to meet the needs of traders worldwide. This full review explores the broker’s features, account types, trading platforms, and overall user experience.
General Information & First Impressions
Founded in 1974, IG has grown to become one of the largest and most reputable online trading platforms globally. Headquartered in London, IG provides access to over 17,000 markets, including forex, indices, commodities, shares, and cryptocurrencies. IG aims to provide a seamless trading experience with a focus on transparency, innovation, and customer satisfaction.
IG Pros and Cons
Pros:
- Regulated by multiple top-tier authorities (FCA, ASIC, MAS, CFTC, FINMA)
- Competitive spreads and low fees
- Wide range of tradable instruments
- Advanced trading platforms (MT4, MT5, ProRealTime)
- Strong educational resources
Cons:
- Higher minimum deposit for some account types
- Limited customer support hours for certain regions
Who Is IG For?
IG is suitable for both beginner and experienced traders. Beginners will benefit from the extensive educational resources and user-friendly platforms, while experienced traders will appreciate the competitive spreads, diverse trading instruments, and advanced trading tools.
Account Types and Benefits
IG offers several account types to cater to different trading needs:
| Account Type | Minimum Deposit | Spreads From | Commission | Leverage | Features |
|---|---|---|---|---|---|
| Standard | $250 | 0.6 pips | None | Up to 1:30 | Access to all trading instruments, educational resources |
| Professional | Custom | 0.0 pips | Custom | Up to 1:500 | Lower spreads, advanced trading tools, VIP services |
IG Trading Platforms
IG provides access to several advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the proprietary ProRealTime platform. These platforms are renowned for their advanced charting tools, technical indicators, and automated trading capabilities. Both platforms are available for desktop, web, and mobile devices, ensuring that traders can access their accounts and manage trades from anywhere.
IG Mobile Trading
The IG mobile app delivers a seamless trading experience on the go. Available for both iOS and Android devices, the app offers full account management, advanced charting, and one-click trading. Traders can stay connected to the markets and manage their portfolios anytime, anywhere.
IG Trading Features
IG offers a range of features designed to enhance the trading experience:
- Advanced Charting Tools: Access to multiple chart types and technical indicators.
- Multiple Order Types: Market, limit, stop-loss, and trailing stop orders.
- Automated Trading: Support for Expert Advisors (EAs) on MT4 and MT5.
- Risk Management Tools: Negative balance protection and customizable leverage settings.
IG Research & Education
IG provides extensive research and educational resources, including market analysis, trading guides, webinars, and tutorials. These resources are designed to help traders of all levels improve their trading skills and make informed decisions.
IG Regulations & Licensing
IG is regulated by multiple financial authorities, ensuring high standards of security and transparency:
- United Kingdom: Financial Conduct Authority (FCA)
- Australia: Australian Securities and Investments Commission (ASIC)
- Singapore: Monetary Authority of Singapore (MAS)
- United States: Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA)
- Switzerland: Swiss Financial Market Supervisory Authority (FINMA)
- Japan: Japanese Financial Services Authority (FSA)
- Dubai: Dubai Financial Services Authority (DFSA)
- New Zealand: Financial Markets Authority (FMA)
- South Africa: Financial Sector Conduct Authority (FSCA)
- European Union (various countries): Federal Financial Supervisory Authority (BaFin) in Germany
IG Pricing
IG offers competitive pricing with tight spreads and low commissions. The fee structure varies by account type, with the Standard account having no commission and the Professional account offering lower spreads with a commission.
IG Deposits & Withdrawals
IG supports a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. Processing times are generally quick, with most deposits being instant and withdrawals processed within 1-3 business days.
| Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | None | None | 1-3 business days |
| Credit Card | None | None | Instant |
| E-wallet | None | None | Instant |
Customer Support
IG provides robust customer support through multiple channels, including live chat, email, and phone support. The support team is responsive and knowledgeable, assisting with a wide range of inquiries from account setup to technical issues.
IG Trading Experience
Traders with IG can expect a smooth and efficient trading experience. The platforms are user-friendly, and the trading conditions are competitive. Additionally, the availability of MT4, MT5, and ProRealTime allows for flexible trading strategies and automated trading.
IG Bottom Line
IG stands out for its advanced trading platforms, competitive trading conditions, and strong educational resources. While it may have some drawbacks, such as higher minimum deposits for some accounts, it offers a robust trading environment suitable for both beginners and experienced traders.
IG Spreads
| Instrument | Typical Spread |
|---|---|
| EUR/USD | 0.6 pips |
| GBP/USD | 0.9 pips |
| Gold | 0.3 pips |
| Crude Oil | 0.02 pips |
IG Swap Fees
| Instrument | Long Swap | Short Swap |
|---|---|---|
| EUR/USD | -0.01 | 0.001 |
| GBP/USD | -0.012 | 0.002 |
| Gold | -0.004 | 0.0005 |
| Crude Oil | -0.003 | 0.001 |
Possible to Trade NFT?
As of 2024, IG does not support direct trading of NFTs (Non-Fungible Tokens). Traders interested in NFTs may need to look for specialized platforms that focus on digital assets and collectibles.
Broker Details
IG operates under the regulatory oversight of multiple financial authorities, ensuring a high level of security and transparency. The broker provides a variety of trading instruments and a user-friendly platform catering to both novice and experienced traders.
Contact Info
IG offers multiple ways to get in touch with their support team:
- Email: support@ig.com
- Phone: +44 20 7633 5430
- Live Chat: Available on the IG website
IG vs. eToro
When comparing IG to eToro, several differences stand out. IG offers a more traditional trading experience with competitive spreads and advanced trading tools. In contrast, eToro is known for its social trading features, allowing users to follow and copy trades from experienced investors. While both brokers cater to a wide range of traders, those seeking a social trading experience may prefer eToro, whereas traders focused on competitive pricing and advanced tools may find IG more appealing.
IG in 2024: What is New?
In 2024, IG has introduced several new features and improvements to enhance the trading experience. These include the launch of a new, more intuitive trading platform, additional trading instruments, and enhanced customer support services. The broker has also expanded its educational resources, providing more webinars, tutorials, and market analysis to help traders make informed decisions.
The composite breakdown
What's good, what isn't
Pros
- Regulated by 10+ top-tier financial authorities
- Access to over 17,000 markets
- Competitive spreads from 0.6 pips on EUR/USD
- MetaTrader 4, MetaTrader 5 and proprietary ProRealTime platforms
- Strong educational resources, market analysis and webinars
- No deposit or withdrawal fees
Cons
- Higher minimum deposit ($250) than some competitors
- Retail forex leverage capped at 1:30
- Limited customer support hours in certain regions