111 AI-Review Test - IG (Blain Custom GPT v1.54)
Written by BrokerNotes.co
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IG offers a broad spectrum of trading instruments, advanced platforms, and educational resources, making it a premier choice for forex and CFD trading. With a 9.9/10 overall rating, IG stands out as a leading broker in the financial trading space.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Comprehensive Tools: My testing led me to appreciate IG's wide range of trading tools and charting indicators, which significantly enhance the trading experience.
- Education Resources: IG offers extensive educational materials, including advanced and beginner videos.
- Market Range: The sheer volume of tradeable symbols and forex pairs offered by IG is impressive.
Cons
- Inactivity Fee: Personally, I found the inactivity fee a slight drawback, although it's common among many brokers.
- No MT5: During my testing, the absence of MetaTrader 5 (MT5) was noticeable, given its popularity among traders.
- Minimum Deposit Required: The requirement for a minimum deposit could be a barrier for some beginners.
Ratings Summary
- Investment Types - 10/10
- Commissions & Fees - 9.5/10
- Trading platforms - 10/10
- Research - 10/10
- Mobile Apps - 10/10
- Education - 10/10
- Overall - 9.9/10
Can I trust IG?
IG is not only a publicly traded company, but they're also authorized and regulated by major financial bodies in Australia (ASIC), the EU (MiFID), the USA (CFTC), and the UK (FCA). Their trust rating, according to the forex industry research website ForexBrokers.com, is a robust 99, placing them in the "Highly Trusted" category. This ranks IG among the most trustworthy brokers in the market.
IG is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Financial Markets Authority (FMA), Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system
- Tier-2 Regulators - Dubai Financial Services Authority (DFSA) and the Financial Sector Conduct Authority (FSCA)
- Tier-3 Regulators - None
- Tier-4 Regulators - Bermuda Monetary Authority (BMA)
Is IG good for beginners?
IG's dedication to trader education is evident through their wide array of resources, including a demo account, advanced and beginner video tutorials, and comprehensive forex and CFD education. One standout feature is their beginner trading education videos, which I found exceptionally helpful for grasping the basics of trading.
| Feature |
IG
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
IG commissions and fees summary
In my analysis, IG stands out for its competitive commissions and fees. They offer active trader discounts, which is a significant advantage. Although they charge an inactivity fee, the average spread cost for the EUR/USD pair is reasonably low at 0.98, and the requirement for a minimum deposit ensures access to their premium trading environment.
| Feature |
IG
|
|---|---|
| Minimum Deposit | £250.00 |
| Average Spread EUR/USD - Mini | 0.98 |
| Average Spread EUR/USD - Standard | 0.98 |
| All-in Cost EUR/USD - Active | 0.82 |
| Active Trader or VIP Discounts | Yes |
IG trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokersNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer Zulutrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
IG's trading platforms and tools are top-notch. Their proprietary platform, coupled with access to MetaTrader 4 and comprehensive charting indicators, provides a superior trading experience.
Trading platforms offered: IG provides access to its proprietary platform, MetaTrader 4, and offers a web and desktop platform for Windows.
Trading tools: The broker offers a variety of trading tools, including charting indicators and trading signals.
Metatrader: IG supports MetaTrader 4 but does not offer MetaTrader 5.
Copy trading: IG does not offer copy trading.
| Feature |
IG
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| DupliTrade | No |
IG trading platform screenshots
Mobile trading apps at IG
IG's mobile trading apps offer robust features that cater to traders on the go and highlights their commitment to providing a seamless mobile trading experience.
| Feature |
IG
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
IG mobile app screenshots
How do I open an account with IG?
Opening an account with IG is a straightforward process. Here's how:
- Visit the IG website and click on the 'Create Account' button.
- Fill out your personal information, including your name, email, and address.
- Complete the questionnaire regarding your trading experience and financial knowledge.
- Verify your identity by uploading the required documents (e.g., passport or driver's license).
- Fund your account through one of the available funding methods.
- Once your account is verified and funded, start trading.
What can I trade at IG?
IG provides a vast array of trading options, including a wide range of forex pairs and an impressive selection of tradeable symbols. With 97 forex pairs and over 19,000 tradeable symbols available, traders have access to an extensive market.
| Feature |
IG
|
|---|---|
| Tradeable Symbols (Total) | 19537 |
| Forex Pairs (Total) | 97 |
| Social Trading / Copy Trading | No |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | Yes |
IG research screenshots
Account funding at IG
Funding an account with IG is convenient, with multiple options available including credit/debit cards, bank transfers, and even PayPal. This flexibility ensures that traders can start trading with ease.
| Feature |
IG
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Neteller (Deposit/Withdraw) | No |
About IG
Founded in 1974 and headquartered in London, IG has established itself as a leading broker in the forex and CFD trading industry. Their long-standing reputation is a testament to their reliability and the quality of their services.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
AI disclaimer
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.