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IG Review

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Founded in 1974, IG has grown to be one of the world’s largest online brokers for spread betting and CFD trading, with trading available across a range of asset classes, including indices, forex, shares, commodities and more.

With sales offices in 14 countries, based across five continents, traders can also use IG’s investments service to buy and sell shares and ETFs in a more traditional sense, or choose a wealth portfolio that they can manage on your behalf.

Authorised and regulated by the Financial Conduct Authority, traders can also be reassured that your trading balance is held in segregated client bank (independent trust) accounts at regulated banks and that your money and assets are never merged with IG’s own money or assets. IG also doesn’t use your money or assets for business activities, including for hedging trades with other counterparties, or as margin for its own hedging trades.

Pros

  • Used by 195,000+ traders
  • Established in 1974
  • Regulated by Financial Conduct Authority and ASIC
  • Min. deposit from $250

Cons

To open a live account, you’ll need a minimum deposit of at least $250. Alternatively, IG offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 195355), ASIC (AFSL #220440), Derivatives issuer licence in New Zealand, FSP No (FSP #18923), and Financial Services Provider #41393 in South Africa. IG puts all client funds in a segregated bank account and uses tier-1 banks for this. IG has been established since 1974, and have a head office in UK.

Before we dive into some of the more detailed aspects of IG’s spreads, fees, platforms and trading features, you may want to open IG’s website in a new tab by clicking the button below in order to see the latest information directly from IG.

Visit IG

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are IG's spreads & fees?

Like most brokers, IG takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on IG’s website. The colour bars show how competitive IG' spreads are in comparison to other popular brokers featured on BrokerNotes.

Spreads are dynamic and are for informational purposes only.

As you can see, IG 's minimum spread for trading EUR/USD is 0.6 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with IG vs. similar brokers.

See all Spreads

How much does IG charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with IG at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $15.1. Here’s a rough breakdown of the fees and how this compares against XTB & City Index .

IG XTB City Index
Spread from: $6.00 $2.00 $5.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $6.00 $2.00 $5.00
$4 less $1 less
Visit IG Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change.

General Fees

  • IG does charge inactivity fees
  • IG doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$9.10
  • The rollover fee for short positions on EUR/USD is $0.34

Commissions

  • IG does charge commission on CFD shares

What can you trade with IG?

IG offers over 10,000 different instruments to trade, including over 90 currency pairs. We’ve summarised all of the different types of instruments offered by IG below, along with the instruments offered by XTB and City Index for comparison.

FX / Currencies IG XTB City Index
# of forex pairs offered 90 48 84
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs IG XTB City Index
# of commodities offered 34 21 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs IG XTB City Index
# of Stocks offered 8000 1606 4500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See IG's InstrumentsSee XTB's InstrumentsSee City Index's Instruments

What’s the IG trading experience like?

1) Platforms and apps

IG offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. IG also offer their custom ProRealTime platform. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

IG Screenshot

IG also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See IG 's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss

Accounts offered:

  • Demo account
  • Mini account
  • Standard account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

IG allows you to execute a minimum trade of £1. This may vary depending on the account you open. IG allows you to execute a maximum trade of Variable. As IG offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As a nice bonus, IG are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at ).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that IG offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • PayPal
  • Payoneer

3) Client support

IG support a wide range of languages including English, French, German, Spanish, and Portuguese.

IG has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4) What you’ll need to open an account with IG

As IG is regulated by Financial Conduct Authority and ASIC, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore IG’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with IG you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.ig.com/ on 01/04/2019.

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider