IG forex & CFD trading platform – feedback and overview of the universal broker

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IG forex & CFD trading platform – feedback and overview of the universal broker

вњ… This Trading Platform is available in Singapore

Overview of known financial brokers: IG forex & CFD trading platform

A huge selection of brokers who offer their clients a stable income, working on the world financial market, does not make it easier for traders to find a reliable platform that fulfills their obligations in a timely manner.

Many professionals who have been engaged in Internet commerce for a long time have their own methods / criteria, which they use when choosing a trading platform:

в—Џ “age” of the company (newcomers are trusted less than their more experienced colleagues);

в—Џfeedback on the broker in the network (there are no guarantees that this will be true information, and not ordered commendable odes to this resource, although even among them you can meet decent brokers);

в—Џ availability of documents and licenses allowing to engage in this activity;

в—ЏStatistical information about this site (minimum deposit, choice of trading instruments for the monthly turnover of the company, etc. All this can be found, as on the official website of the web resource in question);

в—ЏHow much money the firm pays to its employees (companies that steadily develop, very rarely save high-skilled employees on patching).

But, in some situations, the beginning trader, there is insufficient evidence of honesty and decency of the broker. Using the example of the world-famous IG forex & CFD trading platform, you can study in detail how the represented broker works, how much money you need for this project, and whether you should use its services.

Trader’s Security

Many experts confidently assert that the client who registered on the IG forex & CFD trading platform login 10-15 years ago, does not belong to the category of “old-timers”. This company started its activity in 1974! During this period, the future giant Internet trading actively speculated on gold, and IG forex & CFD trading platform clients used it as a legal way to regulate gold prices. Large companies, if necessary, lowered the cost of gold in order to “remove” small specialists from the market (or to attach them to their corporation, if the level of development of the company and its management were high). In the event of any force majeure, unforeseen situations, they could always regulate the situation in the precious metals market with the help of the IG forex & CFD trading platform.

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During its existence, the company has earned not only a positive reputation, but also learned to fight with competitors in legal ways. At the moment, the activities of the broker are controlled by:

в—Џ FCA – regulates the activities of foreign enterprises that have accounts in British financial and credit institutions (and the US), not being its residents.

в—Џ Today it is difficult to say what will happen to this currency, but against the background of current trends, hardly anyone will invest money in this project. The result of the crisis, which is likely to begin in September 2020, will be a complete collapse of the state’s economy and the disappearance of $.

в—Џ FSA (Japan) – works according to the above scheme. Always aroused the confidence of the authorities and financial regulators of the Land of the Rising Sun.

We also remind readers of the regulators of the activities of financial brokers, which enjoy authority in different parts of the world: FMA (New Zealand), FINNMA (Switzerland), as well as MAS (Singapore), ASIC Authorized (Australia), IIROC (Canada), etc.

Against the background of the above information, in combination with evaluating the activities of other companies specializing in protecting the rights of traders and preventing the use of fraudulent broker schemes, in this case even beginners can safely work without worrying about the safety of their savings.

The money of the clients of the presented resource is stored in separate bank accounts, which guarantees their safety. Without the knowledge of clients, no one has the right to use other people’s financial resources to achieve their own goals. Although, if to be completely objective, then you need to warn everyone who trusts a decent amount of money to unknown players of the world financial market, so that they minimize communication with such clients before 3-5 replenishment of the deposit.

Training

Experienced traders who have studied different areas of activity of modern trading platforms, recommend, even before the start of trading, to carefully study the standard operations and the mechanism of the functioning of the exchange. The resource programmers created a demo account for the IG forex & CFD trading platform, which will help you in practice to determine your knowledge in this area, and also to understand whether it is possible to move to real deals or better still to practice a little. The question is really very important – in this situation it is impossible to succumb to emotions and act on the principle of “suddenly lucky.”

Important points about the IG forex & CFD trading platform

Unfortunately, when studying the IG forex & CFD trading platform reviews, it’s hard not to notice that CFD operations are becoming a real ruin for 79% of users. They can not earn even if they have the experience, knowledge, etc. This line of activity is designed for people who perceive the global financial market as a “semblance” of playing on the machine, where you can lose your own money, the money of your spouse within 2-3 hours. And stop in this game is almost impossible.

Trading account

Studying, the made conclusions, which on 70-85% correspond to the validity, it is possible to draw the following conclusions:

в—Џ Customers’ money is stored in separate accounts, which guarantees protection from scammers and people without moral principles.

в—Џ There is an effective management of resources during the crisis.

в—Џ The number of financial instruments allows you to “cover” a possible “window” while the money of trades did not reach the bank account.

Weighing all the pros and cons, a similar situation, almost every adult will be able to make the right choice, corresponding to his desires and life goals!

To work with the broker you need to deposit $ 200 (), while the minimum rate for each individual transaction can be:

в—Џ One dollar for normal bets.

в—Џ $ 5 for transactions with gold.

в—Џ $ 20 for sprint-rates.

The company has access to more than 10 thousand financial markets. Users of the resource can deal not only with currency pairs or binary options, but with CFD deals. Also, a wide range of precious metals and raw materials is open for them. Recently, resource users are more and more interested in crypto-currency.

IG.com Review Visit site

Was at IGMarkets.com. Other websites of this company include IGForex.com, IGI ndex.co.uk.

About IG.com

IG is a forex broker. IG offers the WebTrader and MT4 trading currency platforms. IG.com offer over 100 forex currency pairs, cfds, commodities, stocks, index, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

  • Information
  • Live Discussion
  • Profile
  • Video
  • 13 Widgets
  • More .

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $250
Established: 1974
Address: Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom
Contact: [email protected], (44) 207 896 0079
Regional offices:
Regulators: ASIC #AFSL 220440, FSCA #FSP 41393, DFSA #F001780, FCA #195355 / 114059, NFA #0509630
Prohibited countries:

Yes

Yes

Yes

Trading platforms: MT4, IG Web and Mobile Platform, ProRealTime
Web Trading:
Mobile Trading:
ECN:
Currencies: (105+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (16000+) Gold, Silver, Stocks, Stock Indexes, Bonds, Bond Indexes, Oil, Other Commodities

Yes

Yes

Yes

Yes

Yes

EAs/Robots:
News Spike Trading:
Scalping:
MAM:
PAMM:
Deposit Methods: Bank Wire, VISA, MasterCard, PayPal
Withdrawal Methods: Bank Wire, VISA, MasterCard, PayPal

Live discussion

Join live discussion of IG.com on our forum

IG.com profile provided by IG Group, May 13, 2020

The world’s No.1 spread betting and CFD provider*

Our vision
We aim to be a global leader in retail trading and investments. With a strong focus on innovation and technology, we put client needs at the heart of everything we do. This enables us to empower informed, decisive, adventurous people to access opportunities in over 15,000 financial markets.

24-hour support
Our highly trained team is available 24 hours a day from 8am on Sunday until 10pm on Friday, and from 9am to 5pm on Saturday UK time.

Powerful technology
Our intuitive platforms and apps are built for speed and security. We offer a fully customisable award-winning web platform, natively designed mobile and tablet apps, as well as a range of advanced third-party tools.

A global leader in online trading
We are the world-leading provider of contracts for difference (CFDs) and financial spread betting, and the UK’s largest retail forex provider.* We also offer execution-only share dealing, along with fully managed investment portfolios. With over 40 years’ experience behind us, we’re perfectly placed to help you make the most of the markets. *Based on revenue excluding FX (from published financial statements, October 2020). Losses can exceed deposits.

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Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

IG platform

Service use: Live

Length of use: over 1 Year

Service use: Live

Length of use: 6-12 Months

Service use: Live

Length of use: over 1 Year

IG offers a range of Cryptocurrencies to trade via it’s UK Spread Betting account. The platform is easy to use and it is very simple to execute trades. It is quick and efficient. The spreads are wider than I would like but there are no fees or charges apart from the spreads so I understand the wide spreads. IG are a business after all and they need to maximise their profits.

The only reason I do not give it 5 stars is because of the high margin requirements, wide spreads and not offering even more choice of Cryptocurrencies to trade like its competitors do.

They are scammers!

I’ve traded with IG UK for years and due to the margin restrictions I went to IG Australia.

Less margin requirements but they steal your money with the spread.

I let it go for a while but Wednesday last week trading the micro Gbp/Usd
with absolutely no news events no micro event I went in at 10.56 GMT and these cowboys gave me a 10 point spread.

@ $5 a point I was placed in the markets with a $50 negative position. If this isn’t daylight robbery then I am the next US president in waiting!

This is disgusting! I complained and hey first pretended to not know whT a spread is. I then asked for management who eventually confirmed I was correctly charged as between 10- 11 pm GMT their liquidity providers always fluctuate highly on their spreads for all major pairs.

I said BS IG is one of the largest brokers to use liquidity as an excuse is only viable from a small bucket broker.

Still they persisted and said if I had called them at the time many this could have been sorted out. This is the next day.

Something needs to be done about this! I will report it to ASIC but from what I’ve read they don’t act like the FSA.

Thank you very much for taking the time out of your day to leave a review of your experience with IG. We price our FX markets by taking the best bid and offer from a number of liquidity providers in the underlying market and wrapping our spread around it. We want to provide the tightest possible spread given the competitive nature of our market, however over periods of low liquidity or increased volatility spread can widen.

We want our clients to trade profitably, and it goes without saying that we do not manipulate price feeds or widen spreads unnecessarily. You can read more about our FX offering here: https://www.ig.com/uk/forex and you’ll notice that we also offer DMA trading on FX to give you direct access and increases market transparency and order control.

You can read more about our FX DMA offering here: https://www.ig.com/uk/forex/forex-direct With forex direct market access (DMA), you can trade on the physical market, without the need for IG as a middleman. Please note that regulatory interventions that came into force in July 2020 means that certain products are now unavailable to retail traders. As a result, we can only offer Forex Direct to professional traders as defined by ESMA.

All the best. Please get in touch if you wish to discuss anything further.

This review came from an account created inside the offices of IG.com

Five star rating removed. Per FPA Policy, the rating on this review has been set to zero stars.

I have caught IG manipulating my price feed numerous times.

When you are losing then IG’s price feed is almost exactly the same as the other independent feeds such as Tradingview and DailyFX. IG’s price quotes are within 1-2 pips in real time, exactly paralleling the other websites.

But when your trade starts to close the gap and approach break-even then all of a sudden IG’s price feed starts off showing quotes that are significantly different than the true price feed. They do it both for long and short trades if you start to approach break-even.

Just yesterday I watched my trade climb up from a loss and I was watching the DailyFX feed simultaneously. As I approached break-even the IG price feed suddenly started lagging and went as high as 14 pips below what Tradingview and DailyFX were showing. Those 14 pips would have put me over into a positive, winning trade.

Out of curiosity, I decided to take a Profit price of $ 0.06 on the trade. Yes, SIX CENTS. I sat for TWO HOURS watching the IG price feed pretending to vacillate just barely below my Take Profit price of $ 0.06.
Of course the Tradingview and DailyFX feeds easily surpassed my break-even and went many pips up from there.

All of you reading this know how the forex market is. For sure, 100% certainty, the price is going to go up by 6 cents over a two hour period . nope, not with IG’s dirty tricks. And if you are lucky enough to catch a fast rally that IG can not stop then you will still watch your price feed significantly lower than it should be compared to other websites. So your wins are less than they should be.

Also, their spreads and margin requirements on minor, but still popular, forex pairs are ridiculous. If you pick something other than EURUSD then you can expect that one single trade will stuff your margin, leaving you unable to run any other trades for hours or even days because you have no margin left and ridiculous spreads to try to overcome.
And to top it off, their profit / loss calculation lags the real-time data by many, many seconds. Take Profit level. There are many times when the price has obviously hit my Take Profit level. But because of IG’s PURPOSEFULLY LAGGY profit calculation it did not execute. With IG do not expect to trigger any quick up / down market movements.

Not only that, but every couple of minutes they put this stupid IG Live TV popup window directly above the Close Position button! And coincidentally, wink, wink, this stupid pop-up window has a habit of appearing and blocking your vision of your profits column at the exact same time that the market is super volatile and making some hard, fast price runs. It’s obvious that they do it on purpose to disrupt traders from cashing out on quick, hard rallies. The pop-up window can not be disabled. It can not be moved to a different part of the screen. Obviously, they could have moved the position to a less critical part of the screen. Nope, right on top of the profit / loss column and the Close Position button.

IG is dirty. But then they are all the other US choices for forex brokers. I’ve tried them all. They all manipulate price feeds, hunt stop-losses, experience lag and disconnects when high-profit rallies are occurring, and lie about having low spreads. If I can not find a better broker here in the US then I might just start giving bucket shops in Belize or St. Martin serious consideration.

Thanks for taking the time to share your feedback on the IG trading platform. I’ve answered a few the points you’ve raised below. However, if you would like to discuss any of this in more detail please feel free to reach out and contact us directly using the customer support number on our website, or via email. We’re available all through the trading week, 24-hours a day.

We’ve been operating in the US for several years under the Nadex brand, but our RFED offering under the IG Group brand is relatively new. Therefore, it might be helpful for you to have an overview of our business.

We are the global leader for CFD trading and spread betting, and have been offering access to the financial markets to retail traders since 1974. With over 195,000 clients across many different countries, exceptional deal execution is an absolute priority for us. As a FTSE 250 company listed on the London Stock Exchange, we’re committed to client satisfaction. You can read more about these things on the IG Group website, IGGroup.com.

An important factor in our success has been our commitment to working closely with regulators and appropriate governing bodies. As you seem to be based in the US, you’ll be pleased to know that IG is a registered RFED and IB with the CFTC and member of the NFA. We’re also regulated by the appropriate bodies in the countries we operate (eg the FCA in the UK, and ASIC in Australia).

FX doesn’t trade on a centralised exchange in the same way as stock, so we need to shop around for OTC liquidity providers. To do this, we collate several feeds from some of the largest international banks and LPs and use a smart order router to push you the best bid/offer spread to trade. Most importantly, we never take a speculative view on the direction of the market. It’s also worth noting that IG owns DailyFX, and while DailyFX prices are indicative (as noted on the website), they use the same pricing feed as IG.

Our business model is based on providing individuals with the opportunity to trade the world’s financial markets, in exchange for fair and proportionate transaction fees. While it is a well-known fact that successful trading can be challenging, we do not typically benefit from trading losses that an unsuccessful client may experience. In the same vein, if you make money from a profitable trade, IG does not typically lose out. Put simply, we want our clients to trade profitably, and we put client interests at the heart of our business. Revenue is generated from spreads and administrative costs, and in some jurisdictions separate commission. It therefore goes without saying that we do not manipulate price feeds, hunt stop losses etc.

IG spreads are very competitive, with minimum spreads of a point or less for EUR/USD, AUD/USD, USD/JPY, EUR/GBP and GBP/USD. You noted other pairs, and while I can’t list them all here you can review these (along with margins etc) for yourself on our website. When it comes to the margin requirements you noted in your post, these are dictated by the NFA regulators and based on what they deem appropriate for retail traders.

When it comes to our IG Live TV broadcast, this goes live three times a day and pops up in the notification area in the right-hand column. This shouldn’t cover any area you laid out in the review, and furthermore you can toggle this column on/off.

If you’d like to discuss any of the above, please give us a call anytime and we can go over it in more detail.

IG Review 2020

Summary

Recommended for traders of any experience level looking for an easy-to-use trading platform

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the Financial Conduct Authority (FCA) and the Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

IG pros and cons

IG’s web trading platform is well designed, user-friendly and easy to customize. You will also find many useful educational tools to learn. Funding and withdrawing money is easy and there are multiple options.

On the other hand, IG’s trading fees are high for stock CFDs. The product portfolio is limited, in most countries IG offers only CFD and options trading. The phone support has poor quality too.

Pros Cons
• First-class web trading platform • High stock CFD fees
• Superb educational tools • Limited product portfolio
• Great deposit and withdrawal options • Poor phone support
IG main features and highlights
��️ Country of regulation UK, EU, Switzerland, US, Singapore, Japan, South Africa, UAE, Australia, New Zealand
�� Trading fees class Average
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $0
�� Time to open an account 1-3 days
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 6
�� Demo account provided Yes
��️ Products offered Stock, ETF, Forex, Options, CFD, Crypto, Equities for UK clients, Robo-advisory service in the UK, IPOs

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

IG review
Fees

IG has low fees for stock index CFD, while forex fees are average to low. There is no fee for withdrawal and the inactivity fee is charged only after 2 years. On the negative side, the stock CFD fees are high.

Pros Cons
• No withdrawal fee • Inactivity fee
• Low index CFD trading fees • High stock CFD fee
IG fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.6 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 1.5 is the average spread cost.
EURUSD Average The fees are built into spread, 0.7 pips is the average spread cost.
Inactivity fee Low $12 per month after 2 years of inactivity

We ranked IG’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of IG for each asset class.

We also compared IG’s fees with those of two similar brokers we selected, XTB and eToro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of IG alternatives.

To have a clear overview of IG, let’s start with the trading fees.

IG trading fees

IG trading fees are average. The fee structure is transparent, you’ll easily find information on the website. There are different fee structures for different asset classes:

  • Trading commission for share CFDs, real shares and options
  • All-inclusivespreads for forex, stock index CFDs, commodity CFDs, bond CFDs and even crypto CFDs
  • Administration fee and spreads for Smart Portfolios

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for IG fees.

CFD fees

IG has mostly average CFD trading fees. Its fees are among the lowest when it comes to index CFD trading, but the stock CFD fees are high.

CFD fees for a $2,000 long position held for one week

IG XTB eToro
S&P 500 index CFD fee $2.1 $2.0 $2.4
Europe 50 index CFD fee $1.6 $2.2 $2.7
Apple CFD fee $31.9 $17.9 $6.3
Vodafone CFD fee $25.7 $20.9

Forex fees

IG has average forex fees for EURUSD, GBPUSD and AUDUSD. EURCHF and EURGBP fees are low.

Forex benchmark fees of a $20,000 30:1 long position held for one week

IG XTB eToro
EURUSD benchmark fee $16.9 $15.0 $19.6
GBPUSD benchmark fee $15.1 $11.1 $16.2
AUDUSD benchmark fee $14.1 $10.0 $12.4
EURCHF benchmark fee $6.9 $6.6 $11.8
EURGBP benchmark fee $11.1 $9.9 $19.9

Real stock fees

IG provides real stocks only for some clients, such as residents of the UK or Australia.

Stock and ETF commission of a $2,000 trade

IG XTB eToro
US stock $15.0 $10.0 $0.0
UK stock $9.6 $10.0 $0.0
German stock $11.0 $8.8 $0.0

IG charges a commission for trading with real stocks:

IG stock trading fees
Market Commission per trade Minimum fee
UK – 0-2 trades (previous month) £8 £8
UK – 3+ trades (previous month) £3 £3
USA – any number of trades (previous month) with manual currency conversion $0.02 per share $15
USA – 0-2 trades (previous month) with instant currency conversion £10 £10
USA – 3+ trades (previous month) with instant currency conversion Free Free
Ireland
Germany
Netherlands
Belgium
Austria
0.10% €10
Australia 0.10% AUD 10

At IG, your charges depend on how much trades you have made in the previous months. For example, if you have traded UK trades more than three times before, your commissions per trade for UK shares will be £3 instead of £8.

Smart Portfolios

Smart Portfolios are available only for UK residents.

If you invest in IG’s Smart Portfolios, you will pay a ‘Total Cost of Ownership’ fee, consisting of several components: the cost of the underlying ETFs, the management fee and the spread costs:

IG Smart Portfolios fees
Total value of Smart Portfolio £0 – £50,000 £50,000 – £250,000 £250,000 and over
Average ETF costs Avg. 0.14% (range: 0.17-0.19%)
Management fees 0.65% 0.35% 0.10%
Estimated costs of spreads 0.07% 0.07% 0.07%
Total cost of ownership 0.86% 0.56% 0.31%

Options

IG’s options fees are low, although the contract sizes are also smaller compared to regular exchange-traded options.

Options trading is available only in the following countries: Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden.

IG options trading fees
Market Commission per contract
GBP £0.1
USD $0.1
EUR €0.1

68% of retail CFD accounts lose money

Non-trading fees

It charges no account, deposit, or withdrawal fees. There is also a low inactivity fee of $12 per month, charged after 2 years of inactivity.

IG non-trading fees

IG XTB eToro
Account fee No No No
Inactivity fee Yes No Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $25

IG review
Account opening

IG’s account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.

Pros Cons
• Fully digital • Slower account opening
• Low minimum deposit
• No minimum deposit for bank transfer

Can you open an account?

Visit broker
68% of retail CFD accounts lose money

If you are from the US, you can use only IG’s forex trading, and not its CFD trading.

Minimum deposit

The required IG minimum deposit is $0 for bank transfers and $300 for credit/debit cards and PayPal.

Account types

The country of your residency determines which account type you can open. In most countries, you can trade only with forex, CFDs and options.

IG account types

Some small countries, like Gibraltar, the British Virgin Islands, etc.

Countries Products
All countries, except below Forex, CFD
Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden Forex, CFD, Options
Equity** , forex, CFD
USA Forex

*There are also tax-efficient accounts, such as ISA and SIPP.

**You will need to open a second account for stock trading.

How to open your account

IG has a straightforward and fully digital account opening process. The online registration takes only 5-10 minutes, but the account verification can take a bit longer. Our account was verified after 3 business days.

The 5 steps of IG account opening:

  1. Enter your name, email address, country of residence and select your account type.
  2. Provide some personal details, like your date of birth and address.
  3. Answer a few questions about your financial and employment status.
  4. Provide information about your financial knowledge and fill out a short test.
  5. Verify your ID and residency. You can upload a national ID, passport or driver’s license for verifying your ID. Utility bills and bank statements are accepted for residency verification.

IG review
Deposit and withdrawal

IG offers free and fast deposit and withdrawal. There are various options for funding your account, including traditional methods such as bank wire and credit card funding, as well as PayPal.

Pros Cons
• Credit/Debit card available None
• Free withdrawal
• No deposit fee

Account base currencies

At IG, you can choose from 6 base currencies. The available base currencies are USD, GBP, AUD, EUR, SGD, HKD . This currency selection is better than at IG competitors.

Base currencies at IG vs similar brokers

IG XTB eToro
Number of base currencies 6 4 1

When you open an account, you cannot select your account base currency. You can change the currency of your account only if you write an email to IG’s Customer Service. It would better if you could select your account base currency at the beginning of the account opening process.

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

IG charges no deposit fees. In addition to bank transfer, you can also deposit money via credit/debit cards and PayPal.

In case of bank card deposit, IG accepts:

  • Debit cards: Maestro, Visa, Electron, MasterCard
  • Credit cards: Visa, Mastercard
  • Major prepaid cards
IG deposit options
IG XTB eToro
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

IG withdrawal fees and options

IG doesn’t charge any withdrawal fee. This is a great offer, especially compared to eToro, where withdrawals carry a high, $25 fee.

IG withdrawal fees and options

IG XTB eToro
Bank Transfer Yes Yes Yes
Credit/Debit card Yes No Yes
Electronic wallets No No Yes
Withdrawal fee $0 $0 $25

How long does it take to withdraw money from IG? We tested the debit card withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from IG?

  1. Log in to your ‘My IG’ account.
  2. Select the account you wish to withdraw the money from.
  3. Click on the three dots menu on the right side.
  4. Go to ‘Withdraw Funds.’
  5. Select the withdrawal method you prefer.
  6. Enter the withdrawal amount.
  7. Initiate the withdrawal.

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IG review
Web trading platform

IG’s web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.

Pros Cons
• User-friendly None
• Clear fee report
• Two-step (safer) login
IG platforms to choose from
Trading platform Score Available
Web 5.0 / 5 stars Yes
Mobile 4.5 / 5 stars Yes
Desktop No

You can use IG’s trading platform or MetaTrader 4, a third-party trading platform. In this review, we tested IG’s own trading platform.

The web trading platform is available only in English.

Look and feel

The IG trading platform is one of the most intuitive and well-designed web trading platforms we have seen.

You can easily customize the trading platform. The flexible design allows you to move windows around and save layouts. You can create watchlists and there is also a one-click trading feature.

Login and security

You can easily set up two-step authentication. You have to download the ‘IG Authentication’ app on your mobile and activate the two-factor authentication.

Search functions

You can search for products in the sidebar on the left. It works as you would expect. You can also browse available investment options by typing manually or browsing through the asset class categories.

Placing orders

You can choose from many order types:

  • Market order
  • Limit order
  • Stop-loss order
  • Trailing stop order
  • Guaranteed stop order

If you are not familiar with the basic order types, read this overview.

There are also order time limits you can use:

  • Good ’til canceled (GTC)
  • Good ’til date (GTD)

Alerts and notifications

Alerts and notification are all available, they can be set if you go to ‘MyIG,’ then ‘Settings,’ and click on ‘Communication Preferences.’

You can choose from multiple alert and trade/deal notifications:

  • price alert (prices reach an important level)
  • indicator alert (technical tools reach an important level)
  • economic alert (big economic announcements)
  • automated or manual deal opening/closing
  • automated or manual position editing

Portfolio and fee reports

IG provides clear portfolio and fee reports. The main performance and status of your account is available on the dashboard of your live account. By opening the menu on the right, you can see the ‘History’ tab where you can check all the costs and returns on past trades.

Visit web platform page
68% of retail CFD accounts lose money

IG review
Mobile trading platform

The IG mobile trading platform is easy to use and has great functionalities. On the down side, there is no two-step authentication.

Pros Cons
• User-friendly • No two-step (safer) login
• Good search function • No Touch/Face ID login
• Good variety of order types

You can use both IG’s own mobile trading platform and the MetaTrader 4 platform. They are available for both iOS and Android devices.

In this review, we tested IG’s own platform on an Android device.

The mobile platform is available only in English.

Look and feel

The IG mobile platform is very intuitive, similarly to the web trading platform. You can easily find all available features.

The design is OK, nothing great, and not as good as the web trading platform.

Login and security

You can use only a one-step login. A two-step login would be safer.

You can’t use fingerprint or Face ID authentication either. Providing this feature would be more convenient.

Search functions

The search functions are the same as at the web trading platform. When searching, the assets are categorized.

Placing orders

You can use the same order types and order time limits as the ones on the web trading platform.

Alerts and notifications

The mobile platform’s alerts function is not as extensive as the web trading platform’s. You can set only price alerts.

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68% of retail CFD accounts lose money

IG review
Desktop trading platform

IG’s in-house developed trading platform has no desktop version. If you prefer a desktop-based platform, you can use only MetaTrader 4.

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68% of retail CFD accounts lose money

IG review
Markets and products

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real shares. Other popular assets, like mutual funds or bonds, are not available.

IG is primarily a CFD and forex broker. US clients can only trade with forex products.

You can also trade with stocks if you are from one of the few countries where this is provided, like the UK.

To learn more about CFDs, read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Whether you wish to trade CFDs of currency pairs, stock indices, stocks, ETFs, commodities, bonds, futures or cryptos, you will find an extraordinarily wide selection of products at IG. This stands out compared to the product range of its main competitors.

IG XTB eToro
Currency pairs (#) 95 49 47
Stock index CFDs (#) 68 42 13
Stock CFDs (#) 10,500 1,700 1,900
ETF CFDs (#) 1,900 103 145
Commodity CFDs (#) 47 18 6
Bond CFDs (#) 13 3
Cryptos (#) 8 25 17

You can’t change the default leverage level of the products. This is a drawback, as we believe this is an important factor you should be in control of.

Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, since the pre-set leverage levels are high.

Real stocks and ETFs

You can trade with stocks if you are from:

  • UK
  • Ireland
  • Malta
  • Cyprus
  • Australia
  • Some smaller countries, like Gibraltar, the British Virgin Islands, etc.

IG gives you access to an average number of markets compared to other primarily CFD brokers.

IG XTB eToro
Stock markets (#) 8 17 16
ETFs (#) 2,000 170 145

Options

Options trading is available only in the following countries: Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden.

At IG you can trade with

  • equity index
  • forex and
  • commodity options.

The most popular equity indexes, forex pairs, and commodities are all available.

You can choose from two option types:

  • Vanilla options
  • Barrier options

68% of retail CFD accounts lose money

IG Smart Portfolio

IG Smart Portfolio is available only in the UK. IG Smart Portfolios are iShares ETF portfolios managed by BlackRock. This is basically a robo-advisory service, e.g. automatically managed low-cost portfolios.

If you prefer to buy shares in IPOs, you can do it with IG. An IPO is an initial public offering, or stock market launch, where a company’s shares are sold to the general public for the first time.

There are two ways to participate in IPOs at IG:

  • IPO Grey Market – this allows you to open long/short positions before the IPO happens
  • After IPO – this allows you to place orders after the IPO happens

Turbo24

IG also offers an innovative product, called Turbo24. Currently, it is available for clients in France, Germany, Spain, Italy, Netherlands, Sweden and Norway.

Turbo24s are exchange-traded products that can be traded 24/5.

When you place an order, you have to enter a knock-out level, which is the price level where your position will be liquidated. Selecting the knock-out level works like selecting your leverage because you have to fund your position up to the knock-out level. If you choose a lower knock-out level, you’ll use higher leverage, while a higher knock-out level means lower leverage.

Visit turbo24 trading

68% of retail CFD accounts lose money

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