Investing in financial markets can be an exciting yet daunting experience for beginners. Choosing the right online broker to trade with is key to maximizing profits and minimizing losses.
IG Markets is one of the largest and most reputable brokers globally, offering a wide range of tradable products to retail and institutional clients. With low fees, innovative trading platforms and a huge selection of markets, it’s easy to see why IG is a popular choice for active traders.
But how does IG really stack up against other big players in the industry? This detailed review provides an in-depth look at everything you need to know before sIGning up with IG Markets.
Overview of IG Markets
IG Group Holdings plc operates the IG brand globally. Headquartered in London, IG provides leveraged derivatives trading to over 239,000 active clients worldwide.
The brokerage offers trading across:
- 10,000+ Global Markets: Shares, Forex, Cryptocurrencies, Indices, Commodities, Bonds, Options
- Advanced Trading Platforms: Proprietary web, desktop and mobile apps
- CFDs & Spread Betting: Allow traders to profit from both rising and falling markets
With 45+ years of experience, IG Markets is regulated by top-tier authorities including the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Key Strengths
- Low commissions, tight spreads
- Innovative trading platforms and apps
- Educational resources for new traders
- Wide range of tradable instruments
- regulation and security measures
- Trusted brand with long track record
Possible Drawbacks
- High minimum deposit requirement
- Inactivity fees applied after two years
- Limited customer service hours
- Some platforms are for experienced traders
Trading Products Offered by IG Markets
IG provides traders access to global markets across different asset classes:
Forex Trading
- 90+ currency pairs
- Spreads from 0.6 pips on EUR/USD
- Leverage up to 30:1
IG offers competitive spreads on major, minor and exotic currency pairs. Popular pairs like EUR/USD and GBP/USD have ultra-tight spreads starting from 0.6 pips.
Leverage of 30:1 allows traders to open bigger positions with less capital. IG does not charge commission on Forex trades.
Stock and Share CFD Trading
- 10,000+ global stocks and ETFs
- Spread-betting and direct market access available
- Commission-free trading on UK, EU, US stocks
IG provides traders access to leading stock markets globally including the UK, US, Europe, Australia and Asia. 0% commission trading is available on select markets.
Cryptocurrency Trading
- 15 major cryptos including Bitcoin, Ethereum
- Spreads from 0.25%
- Up to 20:1 leverage
IG offers trading on major cryptocurrencies against the USD with tight spreads. Leverage allows crypto traders to gain greater exposure with less capital.
Index Trading
- Key global indices like S&P 500, FTSE 100, ASX 200
- Spreads from 0.4 points
- Up to 10:1 leverage on indices
Traders can speculate on movements across major global indices. Tight spreads and leverage provide the ability to profit from index moves with lower capital requirements.
Commodity Trading
- Diverse range including metals, energies, softs
- Spreads from 0.02 points on gold
- Up to 20:1 leverage on commodities
IG provides access to a wide range of commodity CFDs including metals like gold and silver as well as energies like oil and gas.
Bonds and Interest Rates
- Government bonds, treasury yields
- German bund, UK gilt, US T-Note
- Interbank rates like Fed Funds, Euribor
Speculate on global government debt and central bank interest rate movements. This allows traders to potentially profit from economic shifts and monetary policy changes.
Options and Futures
- UK and US-listed options
- Covered warrant trading
- Futures contracts on indices, commodities
IG offers trading in vanilla call/put options on UK and US underlyings. Covered warrants provide leveraged exposure. Futures contacts are also available on select markets.
In summary, IG provides an extensive product portfolio allowing clients to trade global markets in shares, forex, cryptos, commodities, bonds and more. The breadth caters well to diverse trading strategies and interests.
IG Trading Platforms and Tools
IG offers multiple trading platforms to suit different needs:
1. ProRealTime Platform
ProRealTime is IG’s flagship web-based platform packed with tools for technical analysis and charting. Key features include:
- Advanced charting with 100+ technical indicators
- Automated trading via API and Excel integration
- Level 2 pricing data
- Customizable platform layouts and workspaces
ProRealTime combines robust trading capabilities with flexibility, allowing active traders to execute strategies across markets efficiently.
2. L2 Dealer Platform
The L2 Dealer platform provides Direct Market Access (DMA) for fast trade execution. Key features:
- DMA pricing for super tight spreads
- Level 2 order book data
- Advanced order types like icebergs, limit orders
- Hotkeys for quick trading
Experienced traders can benefit from direct market access, customizable layouts and advanced trading tools.
3. Mobile and Tablet Trading Apps
IG offers mobile apps for iPhone, iPad and Android devices. Traders can analyze charts, place trades, set alerts and manage positions on the go.
4. MetaTrader 4 (MT4)
MT4 is a popular third-party platform supported by IG. Key features:
- Advanced charting and technical analysis
- Expert advisors and backtesting
- Support for EAs written in MQL4
- Mobile app available
Automated traders can develop or use existing Expert Advisors to implement algorithmic strategies on MT4’s robust infrastructure.
In summary, IG caters well to diverse traders by supporting proprietary and third-party trading platforms on desktop, web and mobile.
Research and Trading Tools
IG incorporates a wide range of trading tools and research into its platforms:
- Charting – 100+ indicators, drawing tools, price overlays, pattern recognition
- Risk Management – Guaranteed stops, price alerts, negative balance protection
- Trading Ideas – IG Client Sentiment, automated pattern alerts, trading central signals
- Fundamental Analysis – Reuters news, economic calendar, financial statements, earnings data
- Technical Analysis – Autochartist pattern scanning, automated technical studies
- Education – Trading courses, video tutorials, IG Academy app, webinars
IG also offers add-on functionality via the TradeSense suite of trading tools including:
- AutoChartist – Scans for technical chart patterns automatically
- Pricing Alarms – Alerts when prices hit key levels
- Market Navigator – Real-time trading sentiment and commentary
- Volatility Protection – Alerts on volatile conditions to manage risk
The combination of trading tools, education and market analysis makes IG well-suited to new traders. Seasoned traders can also benefit from advanced functionality.
IG Fees and Commission Structure
IG makes money through spreads, commissions, overnight financing and inactivity fees. A breakdown of fees:
Spreads
IG offers competitive spreads on mainstream products like:
- Forex from 0.6 pips
- Shares from 0.1%
- Indices from 0.4 points
- Gold from 0.02 points
Spreads widen during volatility and out of market hours. IG provides average and current spreads across products for full transparency.
Commissions
Select share CFDs incur commissions when traded:
- UK Shares – £3 per trade
- US Shares – $0.05 per share, min $15
- EU Shares – 0.10% of transaction, min €10
Direct market access stock trading incurs additional exchange fees detailed on IG’s website.
Financing Costs
Holding positions overnight incurs financing costs:
- Long positions pay financing costs
- Short positions earn financing credits
- Rates based on underlying interest rates
Financing represents the cost of borrowing leverage to maintain the position.
Inactivity Fees
Accounts are subject to inactivity fees if unused for 2 years:
- £12 per month for accounts under £2,500
- £24 per month for accounts above £2,500
Regular trading activity avoids inactivity fees.
Deposit and Withdrawal Fees
- No deposit fees for debit/cards, bank transfer
- Withdrawals free for UK accounts, otherwise £10 fee
- Currency conversion fees may apply
IG has low non-trading fees overall. However, currency conversions and withdrawals for international accounts incur additional charges.
IG Markets Account Types
IG offers three main account types to cater to different trader requirements:
| Account | Min Deposit | Spreads | Commission | Key Features |
|---|---|---|---|---|
| Standard Account | £250 / $300 | Average | No | Limited tools, higher spreads |
| Active Trader Account | £500 / $600 | Tight | Share trading only | Advanced tools, lower spreads |
| Premium Account | £2,000 / $3,000 | Ultra Tight | Share trading only | VIP service, tightest spreads |
- The Standard account is suitable for beginner traders looking for easy access and limited costs. Spreads are wider but no commissions are charged on trades.
- The Active Trader account offers advanced trading tools, tighter spreads and a dedicated account manager. This caters to regular traders looking for lower trading costs. Share CFDs incur commissions.
- The Premium account provides tightest spreads, bespoke trading signals and premium client service. High volume traders can benefit from lowest trading costs and VIP benefits.
IG also offers Islamic (swap-free) accounts and demo accounts with $200,000 of virtual funds for practice trading.
Additional Account Benefits
- Negative balance protection across all accounts
- Guaranteed stop loss orders available
- Mobile app access for account management
- Secure client fund segregation
Robust risk management, platform access and account security apply regardless of initial deposit or account type.
IG Regulation and Safety of Funds
As a trusted global broker, IG invests heavily in compliance and client fund security:
- Regulated by top-tier authorities like the UK FCA, Australia ASIC
- Segregated client funds in top-tier banks
- Member of the FTSE 250 – financially stable institution
- Professional indemnity insurance up to £15 million
- Won numerous industry awards from Investment Trends
IG complies with strict financial standards and audits required by its regulators. The company pioneered spread betting over 40 years ago and is traded on the London Stock Exchange.
Client funds deposited with IG are kept segregated from company money, protecting funds in the event of broker insolvency. IG employs advanced security measures including site encryption, cyber security protocols and financial crime monitoring.
IG Markets Review Conclusion
IG has earned its reputation as an industry leader by providing competitive trading costs, advanced trading platforms and a huge selection of tradable markets.
Tighter spreads and commissions on the Active Trader and Premium accounts make IG a cost-effective choice for regular traders. The broker caters especially well to active traders focused on shares, forex and indices.
While the standard account has high minimum deposit requirements, the advanced tools and solid regulation may still appeal to beginners looking for an authoritative broker. IG also provides a demo account and extensive education for new traders.
Overall, IG Markets delivers a comprehensive trading offering that positions them as a top choice for traders globally.
FAQs about Trading with IG Markets
Is IG Markets regulated and safe?
Yes, IG Markets is regulated by top-tier financial regulators globally, including the UK FCA and Australia ASIC. IG segregates client funds in tier-1 banks and employs stringent security measures.
What fees and commissions does IG Markets charge?
IG makes money through spreads and commissions. Tighter spreads and lower commissions are available on Active Trader and Premium accounts with a higher minimum deposit. Financing fees also apply for leveraged overnight positions.
What trading platforms does IG Markets offer?
IG offers a choice of proprietary platforms like ProRealTime, L2 Dealer and mobile apps. It also supports popular third-party platforms like MetaTrader 4. This caters to different trader requirements.
Does IG Markets offer education and market research?
Yes, IG provides an IG Academy with trading courses for all experience levels. Traders also benefit from analysis and risk management tools like AutoChartist, news feeds and sentiment tools.
How do I open a live account with IG Markets?
Opening an account with IG is easy. Just visit their website, provide some basic personal details and make an initial deposit. The entire process can be completed online in minutes.
How does IG Markets compare to other brokers?
IG compares well to leading brokers in terms of fees, platforms and regulation. IG has slightly higher minimum deposits but provides advanced trading tools suited to active traders. Other brokers may offer lower costs for basic trading.
Concluding Thoughts
IG Markets is an award-winning broker catering well to active traders of shares, forex, indices and more. Their advanced proprietary platforms combined with tight spreads make IG a cost-effective choice for regular traders.
While their minimum deposit requirements are high, the trusted reputation, cutting-edge tools and VIP service make IG a top choice for serious traders looking to maximize profits.
Best and Most Trusted Forex Brokers
Based on regulation, award recognition, mainstream credibility, and overwhelmingly positive client feedback, these six brokers stand out for their sterling reputations:
| No | Broker | Regulation | Min. Deposit | Platforms | Account Types | Offer | Open New Account |
|---|---|---|---|---|---|---|---|
| 1. | RoboForex | FSC Belize | $10 | MT4, MT5, RTrader | Standard, Cent, Zero Spread | Welcome Bonus $30 | Open RoboForex Account |
| 2. | AvaTrade | ASIC, FSCA | $100 | MT4, MT5 | Standard, Cent, Zero Spread | Top Forex Broker | Open AvaTrade Account |
| 3. | Exness | FCA, CySEC | $1 | MT4, MT5 | Standard, Cent, Zero Spread | Free VPS | Open Exness Account |
| 4. | XM | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Micro, Zero Spread | 20% Deposit Bonus | Open XM Account |
| 5. | ICMarkets | Seychelles FSA | $200 | MT4, MT5, CTrader | Standard, Zero Spread | Best Paypal Broker | Open ICMarkets Account |
| 6. | XBTFX | ASIC, CySEC, FCA | $10 | MT4, MT5 | Standard, Zero Spread | Best USA Broker | Open XBTFX Account |
| 7. | Vantage | ASIC, CySEC, FCA | $50 | MT4, MT5 | Standard, Cent, Zero Spread | 20% Deposit Bonus | Open Vantage Account |
| 8. | FXTM | FSC Mauritius | $10 | MT4, MT5 | Standard, Micro, Zero Spread | Welcome Bonus $50 | Open FXTM Account |
| 9. | FBS | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Cent, Zero Spread | 100% Deposit Bonus | Open FBS Account |
| 10. | Binance | DASP | $10 | Binance Platforms | N/A | Best Crypto Broker | Open Binance Account |
| 11. | TradingView | Unregulated | Free | TradingView | N/A | Best Trading Platform | Open TradingView Account |
“If you don't find a way to make money while you sleep, you will work until you die.”
- Warren Buffett
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