IG Broker Review

Is IG Markets Safe?

IG Markets is regulated by two of the most traditional international organisations and one of the earliest international brokerages to get regulation from the FCSA (formerly FSB) in South Africa. IG Markets is regulated by the FCA (license 195355) since 01/12/2001, ASIC (license 220440) since 03/07/2002 and the FSCA (FSP 41393) since 13/04/2010.

Industry recognition continues to stack up around IG Markets. Winning awards like Best Overall Personal Wealth Provider 2017 (Online Personal Wealth Awards) and Top Online Broker 2015 (Business Day Investor’s Monthly Stockbroker Awards) are uncommon, where industry onlookers applaud the way IG Markets works with clients and operates the business.

Along with strong regulation comes strict internal processes. At IG Markets all funds are kept in separate trust accounts where the funds can not be used to settle debts to other traders or used to finance the operations of the business. Per law, an audit of all client funds is performed daily to ensure the broker has the needed liquidity.

Because of the active internal client protection policies and processes, strong traditional regulation, and acclaim from the industry, we consider IG Markets a safe broker to trade with.

Scroll for more details

IG Markets Trading Conditions

A single account type is offered for Forex traders, and other counts are available for traders who want to bet on the spread. A corporate account option is also available if you wish to trade as a corporate entity rather than as an individual.

Account Types

An IG Markets account has both live and demo trading environments. The main IG Markets trading accounts are as follows:

Scroll for more details

CFD Trading Account

This is a flexible way to trade CFD instruments across a variety of markets, including Forex currency pairs, indices, and commodities. With this type of account, you get reduced commissions for the first 2-weeks of trading.

Spread Betting Account

There is no minimum deposit to open a spread betting trading account. This account type is the easiest way to take advantage of both rising and falling markets. The Trading costs are quite low you only pay 0.6 spread on EUR/USD; 1 point on FTSE100, and only 0.1% for individual shares.

Additional Accounts

IG has Share dealing, ISA, SIPP and IG Investments Smart Portfolios accounts. These are non-leverage account types that let you trade stocks and shares.

Spreads and Commissions

Trading platforms at IG Markets support 68 currency pairs with a minimum spread of 0.6 pip and margin rates from 5%. The CFD trading account offers commission-free trading on FX pairs.

Scroll for more details

Broker

Trading Conditions

Base Currencies

EURUSD (Standard)

Trading Cost (Standard)

EURUSD (Best)

GBPUSD (Best)

USDJPY (Best)

Commission

IG

4.5/ 5

AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD

0.60 pips

USD 6

0.85 pips

1.40 pips

0.94 pips

USD 0

eToro

4/ 5

USD

1.00 pips

USD 10

1.00 pips

2.00 pips

1.00 pips

USD 0

CM Trading

4/ 5

EUR, USD

1.50 pips

USD 15

1.70 pips

2.60 pips

1.70 pips

USD 0

Deposit & Withdrawal Fees

Deposits by bank wire are free of charge and take up to three business days to reflect on the trading balance. Debit cards deposits are instant free for Visa and MasterCard. IG Markets charges for Credit card deposits with a fee of 1% charge for Visa and 0.5% charge for MasterCard.

IG Markets for Beginners

Awarded Best Forex Educators 2018 (UK Forex Awards), IG Markets has plenty of current and accessible educational material for beginner traders. Reports and daily analysis are emailed to anyone who signs up, and 24-hour support is available in addition to the peer community who can offer guidance to get you going.

Educational Material

Online trading courses are accessible at the IG Academy which covers topics for the beginner, intermediate and advanced trader. Live, structured classroom-style lessons are run daily, and offer the opportunity for traders to get personal feedback and interact with market analysts.

Scroll for more details

Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

IG

Yes

Yes

Yes

High

Yes

eToro

No

No

No

Low

Yes

CM Trading

No

No

No

Medium

Yes

Analysis Material

News and trade ideas, trading strategy education, as well as analysis of upcoming financial events, is published frequently at IG Markets. The analysis is written by the IG Markets Global team of analysts who have professional backgrounds in trading at some of the major investment banks.

IG Markets sends free Morning Call and The Week Ahead reports daily and weekly respectively. Each promises to deliver an analysis of major economic events and corporate news before the opening of the UK equity markets.

Customer Support

Clients support is available by phone, email, twitter and live chat, 24hrs a day from 8 am Saturday to 10 pm Friday (GMT). Peer support offers assistance from other traders and IG staff in a forum discussion, which is an ideal additional resource for beginner traders who have questions about the platform, basic analysis and the sharing of trading ideas.

Trading Platform

IG Markets introduces clients to a suite of trading platforms for beginner and advanced traders, and have won IG Markets the award for Best Multi-Platform Provider from 2016-2018 at the ADVFN International Financial Awards. Other awards for their platforms have included Best Trading Platform 2017 (Online Personal Wealth Awards), Best Online Trading Platform 2015 (Shares Awards) and Best Forex Trading Tools 2018 (UK Forex Awards). This credit from the industry has been consistent, as they IG Markets platform choice continues to improve.

Scroll for more details

Broker

Platform Choice

Copy Trading

Platforms

IG

4.5/ 5

No

MT4

L2 Dealer

ProRealTime

eToro

4/ 5

Yes

etoro

CM Trading

4/ 5

Yes

MT4

WebTrader

Web Platform

The web platform that runs in a browser and includes research tools, monitoring tools, order management and charts. Easy access to functionality to open, close and edit individual and aggregate positions, chart customisation and risk management tools, as well as access to data and news feeds, to help spot trading opportunities.

All markets are tradeable, and no software download is required, and it is targetted at all levels of trader.

MetaTrader 4

MetaTrader4 is intended for Forex specialists and is an ideal platform for trading CFDs and spread betting. Advanced MT4 charts, chart trading features and market orders including limits, stops, stop-loss, and take profit are all available and free of charge.

Unique advantages of the MT4 platform include the automated trading functionality that is achieved through the use of EAs and the 18 customer apps created by IG and the Autochartist plugin.

L2 Dealer

L2 Dealer, a specialist platform originally designed for use by IG Market’s own traders, offers direct market access free of charge as long as clients maintain a balance of 1000 USD.

The primary advantage of the L2 Dealer software is trading Forex at the market price, with liquidity from major providers. This improved liquidity from dark pools, separate brokers and market makers, uses smart order-routing, which seeks out and executes trades at the best price from various trading venues automatically.

Primed with features, the L2 Dealer platform allows CFDs and shares trading with the use of monitoring tools such as watchlists, live Reuters news feed, price alerts, and professional order control. This leading professional-grade technology offers high-speed execution, and no requotes or dealer-referred tickets.

ProRealTime

Intended for technical chart traders, ProRealTime is a downloadable advanced charting package with advanced analytical features and trade monitoring tools. Functionality to trade from charts, as well as automated trading strategies, come standard free-of-charge as long as clients trade at least four times per calendar month. If this is the case, a fee of 30 USD will be charged for the use of the tool.

Mobile Trading Apps

IG Markets apps support Android and IOS mobile phones and tablets. Winner of the Best Finance App 2016 (ADVFN International Financial Awards) and Best Trading App (Investment and Wealth Management Awards 2016)

Full trading functionality, advanced dealing options and trading alerts make the IG Markets trading apps a good place for the research, preparation, monitoring, control and opening/closing of trades for those who wish to take advantage of time away from their desk.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the IG Markets offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

IG Markets Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. IG Markets would like you to know that: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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.

Overview

IG Markets is a well-established and reliable broker. Regulated by the FCA, ASIC and the FSCA, and the continuous recognition coming from the trading industry, only adds to their strength and confirmation in their leadership in the space.

With a wide variety of trading platforms for beginners to advanced level traders along with a catalogue of education, analysis, and webinars, IG Markets should be considered by any trader looking for the additional embellishments a market maker offers.

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.