Investing in shares can be an exciting yet daunting endeavor for beginners and experienced investors alike. With so many trading platforms and brokers to choose from, it can be challenging to determine which one best suits your needs.
One popular option among UK investors is IG Markets Share Dealing. As one of the largest CFD and spread betting providers in the world, IG Markets offers a comprehensive share dealing service alongside other trading instruments.
But how does IG Markets Share Dealing stack up against other top Share Dealing providers as we head into 2024? Does it have the features, fees, and tools needed to meet the needs of active traders and long-term investors?
This detailed independent review of IG Markets Share Dealing breaks down how it works, key features and tools, fees and commissions, pros and cons, and how it compares to top competitors like Hargreaves Lansdown, Freetrade, and eToro for 2024.
Overview of IG Markets Share Dealing
IG Markets Share Dealing provides retail investors an online platform to buy and sell UK, US, German, and Australian shares. Beyond shares, users can also trade forex, CFDs, spread betting, options, cryptocurrencies and more with IG.
Here is a quick overview of IG Markets Share Dealing:
- Parent company: IG Group Holdings plc, publicly traded on the LSE
- Founded: 1974, relaunched as IG Markets in 2003
- Headquarters: London, UK
- Regulated by the FCA in the UK
- Offers share dealing alongside CFD, spread betting, and multi-asset trading
- 200,000 active clients globally as of 2022
- Winner of “Best Trading Platform” at the ADVFN Awards 2022
How Share Dealing Works with IG Markets
IG Markets offers a simple online share dealing experience. Users can open a share dealing account directly from the IG website or mobile apps in minutes.
To start trading shares you’ll need to:
- Open an account – Complete the application online and verify your identity. Accounts can be opened as joint or ISA accounts.
- Fund your account – Deposit funds via card, bank transfer or cheque. No minimum deposit required.
- Search for shares – Browse and search for stocks and ETFs on major global exchanges.
- Place trades – Enter the share name or symbol, select buy or sell, input trade size and place order.
- Manage your portfolio – IG provides portfolio management tools to view holdings, monitor prices, and access research.
Overall the share dealing platform is easy to navigate with a clean, modern interface. Traders can place quick basic trades while utilizing advanced charting and research tools.
Key Features and Tools of IG Markets Share Dealing
So what exactly does IG Markets offer for share dealing, and how do the features stack up? Here is an overview of some of the key capabilities of the platform:
Comprehensive Share Offering
- Access to over 12,000 UK, US, German, and Australian shares including popular bluechips, small caps, and ETFs.
- Additional access to global shares via Corporate Sponsored Nominee (CSN) structure.
- Purchase shares via quick basic deal tickets or advanced order types like limits and stops.
- Short selling capabilities on select shares with limits.
- Access to IPOs and share placements for high demand new issues.
Intuitive Trading Platforms
- Web platform – Advanced web-based trading platform with custom layouts, charting, alerts and trading from charts.
- Mobile apps – IG Markets apps for iOS and Android allow mobile trading.
- ProRealTime – Sophisticated charting and trading platform integrated with IG account.
Research and Education
- Extensive research tools including fundamentals, technical analysis, earnings reports, economic calendar, news and more.
- IG Academy provides free education for beginners on shares, technical analysis, chart patterns, risk management, and more.
Portfolio Management and Reporting
- At-a-glance portfolio view with live share prices, charts, P&L reporting and account valuation.
- Dynamic tools to monitor open positions, pending orders, transaction history, deposits/withdrawals, dividends, and more.
- Tax reporting tools.
Customer Support
- 24/5 UK-based customer support via live chat, email and phone.
- Active community forums.
- Support team has strong industry knowledge and trading experience.
Fees for Share Dealing with IG Markets
Trading fees are an important factor to consider when choosing a share dealing provider. Here is a breakdown of the key fees charged by IG Markets:
| Fee Type | Cost |
|---|---|
| Share Dealing Commission | £3 per trade under £10K, 0.25% on amounts above |
| Regular Investing | From £1.50 per month |
| Inactivity Fees | None |
| Deposit/Withdrawal Fees | None |
| Foreign Exchange Fees | Up to 1% conversion fee |
| Account Fee | None for standard account |
| Dividend Fees | £3 for UK dividends, $3 for US dividends |
| Custody Fees | None |
- No SDRT or stamp duty charged, unlike some other UK share dealing platforms.
- Discounted commissions available for high volume traders.
- Overall fees are competitive for frequent traders. Higher costs for lower frequency investing.
The share dealing commission starts at £3 which is comparable to competitors. However, the 0.25% charge on larger transactions can add up for active traders.
IG Markets is better suited for traders placing at least a few deals per month rather than lower activity longer term investors. The cheap regular investing option helps for smaller, regular deposits.
Advanced trading platforms like ProRealTime and short selling capabilities carry additional subscription fees, making IG Markets more full services compared to discount brokers like Freetrade.
IG Markets Share Dealing Pros and Cons
Here is an overview of some of the key advantages and potential drawbacks to using IG Markets for share dealing:
Pros of IG Markets Share Dealing
- Low minimums and account fees make it accessible for beginners
- Comprehensive share offering across major markets
- Advanced trading platforms and charting tools
- Excellent research and education resources
- Established reputation as a trusted broker since 1974
- Tight spreads and competitive fees for active traders
- 24/5 UK-based customer support
Cons to Consider
- 0.25% commission on larger trades can add up
- More expensive for lower activity longer term investing
- Additional fees for advanced features like short selling
- Forex conversion fees on international trades
- Limited fractional share investing
- Less community forum activity than some competitors
Overall IG Markets Share Dealing provides an extensive share trading solution for active investors who value advanced trading tools and education. The comprehensive offerings and competitive commissions make it a top choice for frequent traders.
However, it may not be the most cost effective choice for casual investors or buy and hold strategies due to the commission structure. Other brokers like Freetrade offer free stock trades, but lack some of the sophisticated tools.
How IG Markets Compares to Other Share Dealing Platforms
IG Markets is one of the leading share dealing platforms in the UK, but it’s not the only option. Here is a look at how it compares to some of the top competitors:
IG Markets vs Hargreaves Lansdown
- Hargreaves Lansdown has higher trading fees but offers managed portfolios and services.
- Both have strong research, but IG has more trading features and account minimums are lower.
- HL has a larger community forum which some investors may prefer.
IG Markets vs Freetrade
- Freetrade offers free stock trades but limited research and tools. IG has more advanced offerings.
- IG Markets has wider share selection including US, German markets.
- Freetrade fractional shares and auto-investing features appeal to passive investors.
IG Markets vs eToro
- eToro focuses more on social trading, IG has stronger charting and research tools.
- Both offer short selling capabilities not available on all platforms.
- eToro offers crypto trading alongside shares which IG does not.
Here is a table comparing the key features between platforms:
| Features | IG Markets | Hargreaves Lansdown | Freetrade | eToro |
|---|---|---|---|---|
| Share Dealing Commission | £3 under £10K trades<br>0.25% over | £11.95 trades | Free trades | 1% spread |
| Share Selection | 12,000+ | 3,500+ | 1,500+ | 800+ |
| Research Tools | Extensive | Extensive | Basic | Basic |
| Advanced Trading Tools | Yes | Limited | No | Limited |
| Fractional Shares | Limited | No | Yes | No |
| Managed Portfolios | No | Yes | No | No |
| Community Forum | Decent | Very active | Growing | Active |
Overall IG Markets stands out for active traders who value integrated advanced charting, trading tools, competitive commissions, and comprehensive education.
More casual investors may lean towards Hargreaves Lansdown for managed portfolios or Freetrade for the free trades and fractional share capabilities. Your individual needs and strategy will determine which platform is the best fit.
Frequently Asked Questions
Is IG Markets safe for share dealing?
Yes, IG Markets is regulated by top-tier regulators including the FCA, ASIC, and FSCA making it a safe choice for share dealing. User funds are segregated in separate accounts for security.
Does IG Markets offer ISAs for shares?
Yes, you can open a Stocks and Shares ISA with IG Markets to invest in shares tax-free up to the annual allowance. Other account types include standard share dealing and joint accounts.
Can you trade penny stocks and OTC shares with IG?
IG Markets provides access to some penny shares, small caps, and less liquid securities. However, very thinly traded penny stocks may have restrictions. Check if a specific OTC stock is covered.
How long does it take to withdraw money from IG Markets?
Withdrawals are processed same day if submitted by 2pm UK time Monday to Friday. Expect withdrawn funds in your bank account within 1-3 business days. Bank processing times can extend this.
Is there a IG Markets demo account?
Yes, IG Markets offers demo accounts with £10,000 in virtual funds. The demo accounts allow you to test out share dealing and their platforms risk-free before depositing real money. Useful for practice.
Does IG Markets offer fractional share trading?
IG Markets has limited fractional share trading capabilities currently. You cannot buy specific fractional amounts, but some dividend reinvestment and corporate actions may result in fractional holdings.
Conclusion – A Strong Choice for Active Traders
In summary, IG Markets provides an extensive share dealing solution catered towards active traders. The advanced trading platforms, competitive commissions, and comprehensive education make it a top choice for frequent investors.
However, more casual investors may find cheaper options like Freetrade better suit buy and hold strategies. Analyze your specific needs carefully when choosing a share dealing provider for 2024 and beyond.
IG Markets remains a strong contender with the features, fees, and reputation to meet the needs of most share traders and investors in the UK and globally. Open an account easily online and take advantage of their analysis tools and platforms designed to help maximize your share dealing results.
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