IG Review 2024

IG review
IG Awards

IG have won numerious industry awards over the 50 years they have been operating as a financial broker. We have listed the most notable awards and mentions for IG below.

• Investopedia Online Brokers Awards Best for Forex Trading 2019
• Forex Brokers Annual Review Number 1 Overall Broker 2019
• ADVFN International Financial Awards Best Spread Betting and CFD Education Tools 2019
• ADVFN International Financial Awards Best Multi Platform Provider 2019
• ADVFN International Financial Awards Best Finance App 2019

IG review
IG Fees Explained

• IG doesn't charge withdrawal fees.
• IG does charge a fee for inactive accounts.
• IG does charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from IG are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

IG Costs To Check

Modern brokers like IG provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, IG may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall IG trading profitability.

How IG Fees Compare Against Other Brokers

IG Minimum Deposit

IG does not require a minimum deposit when opening an IG trading account.

In the trading world, brokers like IG, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

IG Withdrawal Fees

IG doesn't charge withdrawal fees.

IG Withdrawal rules may vary across different brokers when it comes to transferring funds from your IG or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with IG may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the IG withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from IG. Researching and comparing IG withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing IG funds frequently or dealing with large sums of money. Awareness of these IG fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your IG funds.

For example, IG allows you to withdraw your funds to Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, BPAY, Payoneer.

IG Inactivity Fees

IG does charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by IG terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all IG fees and services. It's recommended that you check the IG website before signing up. If you decide to close your IG account, it's important to do so with the IG broker customer support and obtain confirmation that no remaining IG fees are due.

Brokers like IG must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

IG Deposit Fees

IG do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

IG Commission Fees

IG does charge commission on CFD instruments.

Brokerage firms like IG may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the IG trading account level held by the trader.

IG may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing IG terms and conditions to understand the commission fees and any other charges that may apply is essential.

IG review
Trading on IG web platforms and other applications

IG offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

A IG iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

IG also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See IG's platforms

Is the IG Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the IG trading platform to protect you on PC and mobile IG platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using IG web trading platforms.

IG Trading Platform Options

After logging into your IG account, you'll find a range of trading platform options available below.

• MetaTrader 4 (MT4)

Please be aware that IG does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.

IG does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.

Let's explore each of these trading platforms in detail and what options IG gives you.

IG review
IG MetaTrader 4 (MT4)

IG MetaTrader 4 (MT4) In Detail

MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on IG offers traders comprehensive features and tools to enhance their trading performance. The IG MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the IG platform to their needs. One of the standout features of MT4 is its charting functionality, which allows IG traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give IG traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 IG trading platform.

MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the IG MetaTrader 4 (MT4) trading platform. MT4 is a platform available with IG, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The IG MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. IG allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.

You can start using the MetaTrader 4 platform with IG in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. IG MetaTrader 4 is compatible with the latest macOS. IG allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on IG

MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.

The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.

Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.

Trade IG MetaTrader 4 on iOS Devices

You can download the IG app or trade with IG through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. IG customers have instant access to the financial market and can completely manage a Portfolio on the go.

Trade IG MetaTrader 4 on Android Devices

Millions of people worldwide use Android mobile devices and tablets, and IG offers its clients access to the MetaTrader 4 platform on these devices. With the IG MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing IG traders to stay on top of their trades and react quickly to changes in the market. With the IG MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.

Trade IG MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators available on IG are a powerful bundle of three major indicators designed to help traders make informed decisions. IG MT4 Trading Central indicators include:

• Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
• Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
• Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.

Trading Centrals Alpha Generation Indicators can help IG traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing IG traders to potentially stay one step ahead.

IG MetaTrader 4 Advanced Trading Tools

The IG MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give IG traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, IG provides traders with everything they need to succeed. The IG MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing IG traders to analyze the market at any level of complexity.

Trade IG MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.

It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.

This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.

IG MetaTrader 4 AutoChartist

Autochartist on the IG platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for IG MetaTrader 4 Autochartist can scan the market using an expert advisor script.

With Autochartist, IG traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save IG users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. IG traders can navigate the platform and find the information they need to make informed trading decisions.

IG Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for IG traders of all experience levels.

IG Trading benefits

• IG Allows scalping
• IG Allows hedging
• IG Offers STP
• IG Low min deposit
• IG Guaranteed stop loss
• IG Offers Negative Balance Protection

IG Trading Accounts Offered

Below we give an overview of the account types that IG offer. Whatever you are looking to trade, the varying IG account types will be able to provide you with what you need.

• IG Demo account
• IG Mini account
• IG Standard account
• IG STP account

Can I try IG?

IG provides a demo account that enables individuals to explore trading before investing their funds. By creating a IG practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the IG demo account can help individuals to make informed decisions before investing their money.

Open a demo IG account to practice and trade.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

IG withdrawal and funding methods

It's essential to remember that the payment methods provided by IG vary based on the IG entity and the IG client's country of residence. To view the IG payment options available, you can log into your IG member's area.

IG offers various funding payment methods listed in your IG dashboard if available in your region. To learn more about the IG funding and withdrawal options available in your area, you can explore the IG website.

IG provides several payment methods for funding your IG account. You may utilize any of these deposit options if they are available in your region. IG ensures that users have multiple payment methods to choose from, making it more convenient for verified IG account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the IG user's location. learn more about IG funding and withdrawal methods.

IG Payment Methods

Some IG payment methods are local and are available only to specific regions. IG account holders should check which payment methods are provided in your region.

• IG accepts Credit cards
• IG accepts VISA
• IG accepts MasterCard
• IG accepts Debit cards
• IG accepts Bank Transfer
• IG accepts Electronic wallets (eWallets)
• IG accepts PayPal
• IG accepts BPAY
• IG accepts Payoneer

How can I start trading with IG?

To open a trading account with IG, individuals can sign up on the IG website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for IG account validation and making a deposit. Once completed, IG users can download the trading platform of their choice.

It's important to note that IG requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps IG maintain a trustworthy financial environment for its 239,000 users. Detailed information on the IG trading platforms is available on their website.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Performing trades with IG

When using IG, the minimum trade size is typically £1 units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. IG have a max trade of Variable. With STP execution on the IG platform, traders can anticipate tighter spreads and greater transparency when it comes to trade pricing.

One of the IG platforms notable features is its claim of having no requotes, which means traders need not be concerned about slippage when executing trades (i.e., trades being executed at a price different from the intended price). No requotes can provide IG traders with greater confidence and peace of mind when trading on the IG platform. It's worth noting, however, that other factors, such as market volatility and liquidity, can still affect the execution of IG trades.

Like other brokers, IG margin requirements can differ depending on the traded instrument.

IG offers traders several risk management tools and features, such as Technical analysis, Fundamental analysis, Diversification of portfolio, Negative Balance Protection, Stop losses (with trailing stop loss orders), Position sizing techniques, Price alerts, Position sizing techniques, Limit orders, Hedging strategies, amonst others. You can learn more about IG, and see all of the IG account features on the official IG website.

CFD Trading on IG

We will show you an example of the basics of using IG leverage.

CFD trading on IG allows traders to speculate on the price movements of various financial instruments against the broker IG, without actually owning real assets. With CFDs, IG traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

IG provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, IG leverage profits and losses are magnified when trading. For instance, using CFDs, you use the IG trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, IG leverage magnifies both profits and losses in trading.

Trading CFD trades on the IG platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced IG traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Limiting Your Risk When Trading with IG Negative Balance Protection

Negative balance protection is important for traders using leverage on platforms like IG. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a IG trading position does not go in your favour, this is where negative balance protection comes in handy.

Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, IG trading losses are always limited to the current balance of funds in the trader's account.

Even if an IG trader experiences a significant loss, they will never owe more money than what is available in their IG account balance.

It's important for IG traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks. By doing so, traders can trade with peace of mind, knowing that IG losses are limited to the funds available in your IG account when negative balance protection is in place.

Limit Risk When Trading with IG Stop Loss, IG Stop Limit Orders

Stop-loss orders are a popular risk management tool traders use on platforms such as IG . By setting a specific price point for buying or selling a security, traders can limit their potential losses on a position.

Stop-loss orders are especially important for IG traders not hedging their positions or using leverage, as they can be more vulnerable to significant losses. However, the circumstances in which an IG trader should use a stop-loss order can vary depending on the specific trade and market conditions.

Overall, stop-loss orders can provide IG traders with an effective way to manage risk and protect their investments in volatile markets. Stop Loss and Take Profit are not guaranteed with IG, you must actively monitor your live trading portfolio and financial exposure on IG.

Education Resources at IG

To trade effectively with IG, it's important to have a good understanding of the IG trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with IG and externally.

IG . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with IG. Familiarizing yourself with the IG trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using IG. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with IG involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like IG, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with IG. Explore the IG platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with IG, before live trading.

Customer Support at IG

As part of our IG review, we review customer service options, response times and problem resolution effectiveness on the IG trading platform. The IG trading platform supports multiple languages, which includes English, French, German, Spanish, and Portuguese.

IG Available Support Types

Based on our experience, we have given IG a D grade for customer support. We encountered some slow response times or IG queries that were left unanswered.

Compared to other brokers, IG offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at IG

Our team tested the live chat support of IG and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.

In addition, we tested IG support services in various countries and languages and found that IG were able to effectively resolve our customer issues.

Email Support at IG

We tested the email support of IG by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any IG response.

The IG team did resolve and answer our queries, but the email support from IG was overall average compared to other brokers we have tested.

Phone Support at IG

We contacted IG via phone and received quick assistance within 10 minutes of our call.

The IG phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by IG and found that they could assist us in various languages.

While we found the IG phone support satisfactory, there is room for improvement in response time.

See how IG Support Compares Against Other Brokers

What you will need to open an account with IG

As IG is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC).

As a new client of IG, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with IG in your region. During the IG account opening process, you will be asked to provide IG with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with IG have the following documents available.

• IG require a scanned colour copy of your passport, driver's license or national ID card.
• A recent utility bill or bank statement that confirms your residential address for IG compliance. This must be dated within the last six months.
• If you plan to fund your IG account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the IG platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under IG Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring IG's platform.

However, remember that you won't be able to make trades on IG until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the IG KYC compliance process as soon as possible to avoid any delays in accessing the IG platform's features.

It is important to note that IG may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the IG platform and features immediately. However, you must pass the verification process to start live trading with IG, which can take up to a few business days.

To start the process of opening an account with IG you can visit the IG trading platform here.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://www.ig.com/ on April 23, 2024.

Watch this IG Explainer Video

IG review written by Andrew Blumer and Mark Hansen