71% of retail investor accounts lose money when trading spread bets and CFDs with this provider
Like most brokers, IG takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on IG’s website. The colour bars show how competitive IG's spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||0.6 pips + $1.00||0.7 pips||1.0 pips|
|GBP/USD (Average: 1.1 pips)||0.9 pips + $1.00||1.7 pips||0.9 pips|
|USD/JPY (Average: 1.1 pips)||0.7 pips + $1.00||0.6 pips||1.1 pips|
|AUD/USD (Average: 0.8 pips)||0.6 pips + $1.00||0.6 pips||1.2 pips|
|USD/CHF (Average: 2.3 pips)||1.5 pips + $1.00||2.3 pips||1.1 pips|
|USD/CAD (Average: 2.9 pips)||1.7 pips + $1.00||0.5 pips||0.9 pips|
|NZD/USD (Average: 3.6 pips)||2.0 pips + $1.00||2.8 pips||2.3 pips|
|EUR/GBP (Average: 2.4 pips)||0.9 pips + $1.00||0.5 pips||1.3 pips|
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 0.70 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
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 $15.1. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
|Spread from:||$ 6.00||$ 2.00||$ 7.00|
|Total cost of a 100k trade:||$ 6.00||$ 2.00||$ 7.00|
|$4 less||$1 more|
|Visit IG||Visit XTB||Visit AvaTrade|
All fees/prices are for informational purposes and are subject to change.
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 AvaTrade for comparison.
|FX / Currencies||IG||XTB||AvaTrade|
|# of forex pairs offered||90||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||34||21||16|
|Index & Stock CFDs||IG||XTB||AvaTrade|
|# of stocks offered||8000||1606||99|
|See IG's Instruments||See XTB's Instruments||See AvaTrade's Instruments|
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 & L2 Dealer platform. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
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
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 below.
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.
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:
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.
L2Dealer is a professional direct market access (DMA) platform that enables traders to trade Forex and shares CFDs without the intervention of a dealing desk. The L2Dealer is a downloadable DMA platform available from IG Markets.
L2Dealer offers the following:
L2Dealer is free to use, but exchanges may charge fees for data usage.
In this section, we will introduce the basic functions that traders will encounter on the L2Dealer platform. Some of these functions will include searching for assets to trade, opening, and closing positions, monitoring positions, placing orders and setting position sizes, etc.
Assets traded with L2Dealer include Forex assets, indices, shares, and other OTC instruments. The Dictionary function (the magnifying glass on the top left of the platform toolbar) is used to display the different markets that warehouse the assets traded with L2Dealer.
The markets will then be displayed. Click on any market to see the assets listed. These assets will be listed on the left side of the platform screen. Click on each individual asset to open up the order box in order to open a position or adjust parameters such as trade sizes.
Traders may also decide to use the SEARCH function to look for a specific asset rather than use the Dictionary function. This is a faster way of locating markets or specific assets.
Traders can open trade orders and adjust the order parameters using the Deal Ticket. The Deal Ticket pops up when a specific asset is clicked with the mouse.
Parameters that can be set include the following:
If Limit or Stop order types are selected, there will be the opportunity to decide the expiry time of the entry (Good till Cancelled, End of Day, etc).
Use the Positions tab to check on open or closed positions.
If orders are opened using market orders, they appear in the Open Position section of the screen. If the trader has set Limit or Stop orders, they will appear on the Orders to Open section. It is only when the pending orders are executed that the position ticker is transferred to the Open Positions tab.
Manage open positions as well as trades that are awaiting execution in the Orders to Open section. Simply right click on the order ticker and select the option to manage the order in the required way in the drop-down menu.
L2Dealer is designed for professional traders, therefore it has the features of a professional-level dealing platform. It is possible to trade a wide range of contracts in different markets using a single account through the L2Dealer platform.
Markets that can be traded are:
The L2Dealer platform has a broad range of features and trading tools:
The first step in the process is to fill an online form on the IG Markets L2Dealer page to register to get login details for the platform. After this is concluded, the trader is sent a download link with login details to access the platform.
Click on the ‘Install L2Dealer’ download link sent to email. Either open the file directly, or save it locally and then run the executable file (recommended). When the installation of the L2Dealer platform is complete, open the platform by double clicking on the icon on the home page, and log in with the details provided.
The installation requires the Microsoft .NET Framework 2.0 to be installed on the PC.
For traders who want to ensure that their trades are executed at the best market price then a direct market access platform such as L2Dealer may be suitable. The platform offers the liquidity of primary exchanges and market makers for share trading, and a direct connection to the liquidity pools of major banks and other liquidity providers for Forex trading. L2Dealer is available from IG Markets, who are the providers of the product.
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. *Availability subject to regulation.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.ig.com/ on 01/05/2021.