IG Markets is the largest retail Australian forex broker with strong reviews, a range-of-markets including FX, CFD and share trading. Follow the following article of Top10ForexGlobal to better understand this broker.
IG Markets Review
IG founded in 1974 as a pioneer company of its kind IG (formally IG Markets ltd) been at industry forefront and actually built the concept of financial spread betting that introduced online dealing as early as in 1998.
Currently, the company featuring global presence and providing trading solutions through offices in 13 countries located in the world’s key financial districts, which enables to reach clients across the world. The broker headquartered in London (UK) and including operations in the USA (Find Forex Brokers accepting US Clients), Australia, Japan, New Zealand, registered among European countries and Singapore.
At IG there is only one basic account, which can be settled up into the trade in minutes.
Also, there’s also no obligation to fund account immediately, firstly account will be as a Demo Account allowing you to trade with virtual € 30,000 and then transfer it to the real trade by putting or deposit of funds.
How to open your account
Singing in for IG trading account isn’t a complicated process, you should simply follow the guided registration and submit your digital application form. Also, IG allows you to verify your account through existing FB or Google accounts, so getting access almost instantly to Demo Account and your trading account management area is truly seamless.
Here are actually the initial steps you should follow in order to obtain an IG account.
- Select and Click on IG Sign In page (you may see link above in our IG Review)
- Fill your registration personal data (Name, email, phone number, etc.)
- Confirm your account through a link received at your email (at this stage you will gain access to Demo Trading already)
- Verify your identity and submit documentation for review (may include a residential proof, ID, etc.)
- Complete quiz to confirm your trading experience and qualification
- Once your account is activated, follow with the money deposit.
All IG platforms have been designed for the traders’ convenience with a choice which device to use and almost unlimited capabilities. The broker aimed to create an easy-to-use platform while its technical development would take one of the primary roles, and indeed, IG made its job perfectly. IG platform received many industry rewards and traders compliments for its well-designed core and variety of capabilities.
A proprietary platform is a web-based trading software which doesn’t require a download, along with trading applications optimized for most smartphones and tablets. The advanced platform features including direct market access (DMA) throughout its NDD connectivity, APIs and possibility to transform it into the Specialist platform with flexible access and professional resources.
Desktop Trading Platform
However, you still can choose the famous MetaTrader4 to execute your orders along with its advanced chartings and tools, in case it is a better option for you. MT4 supporting various versions as well including WebVersion, Desktop Platform and Apps.
Mobile Trading Platform
The mobile trader is a necessary part of the modern trader as well, and IG integrates its platform feature into great Mobile Application where both Android and iOS devices are supported.
Mobile IG trading is almost the same powerful as its regular version, so whether you want to check real-time feeds, copy other traders or to perform any research it is all available. As well, trading apps enable spread bet and CFDs as a simplified process, which provides a great benefit to the trader and leverage advantage.
Additionally, all IG’s platforms are enhanced with 18 free add-ons and indicators, Autochartist, technical analysis tools, and a free VPS for an expert advisor, and a range of small detailed settings that enhances trader deal.
What are IG trading fees?
IG spread breakdown and trading costs are considered low, and are a reference to the minimum of CFD or MT4 account fee (spread) and the Spread Bet minimum size, which also varies under the IG entity you trade with. Also, IG entities in jurisdiction or another will offer particular conditions for your trading. Alike spread betting is available only for UK residents, while Cryptocurrencies not available for trade in Japan and UK at all. Also, we check other fees like deposit or withdrawal fees and non trading fees.
Non trading fees
Lastly, there is an inactivity fee, which will be paid in case your trading account remains inactive for a period of 6 months or longer. This fee may vary from the jurisdiction or another, so you always better check for conditions in case you’re not using your account.
IG builds its costs into the spread only basis that is based on variable IG spread. Spread will be paid on every spread bet or non-share CFD, with the average about 0.6 pips on Forex, and with a commission on every share CFD or share dealing trade executed. Generally, at IG margins are among the lowest in the industry and a very comfortable to use even for the beginning traders, since there are no additional fees.
Another reflection of an IG global reach and its popularity is excellent customer support. You absolutely covered by prompt responses to queries in different languages, since the variety of offices truly represents all variety of nationalities and countries.
Also, IG provides help through Live chats, and social media, as well as it is available on Phone 24h and supports clients with reliable and quality answers.
Deposits and Withdrawals
IG Minimum deposit
There is no requirement on a minimum deposit, as well as no additional fee for you to transfer the money. Yet, you should verify with particular jurisdiction deposit conditions, as well as margin requirement for the instruments you’ll be trading in order to cover necessary expenses.
So a trader can choose the best suitable payment option among available deposit funds according to initiate trading costs and start trading almost instantly. And again verify in case option or another available in your region.
- major debit/credit cards,
- bank transfer,
- using the PayPal system,
- Skrill or Neteller
IG does not charge any commission for money withdrawals, traders can use wide withdrawal options including Bank transfer, Credit Debit cards, e-wallets, PayPal etc. 0$ fee is applicable on minimum withdrawal of 150$, while funds usually arrive at your account within 3-5 business days.
How do I withdraw money from IG?
- Select and Click on Withdraw Funds’ at the menu through your account area
- Fill in the required data and the withdrawn amount
- Choose the withdrawal method available in your region
- Complete the electronic withdrawal with the requirements
- Confirm withdrawal request and Submit
- Typically it will be confirmed within 3 days. You may check the current status through your account, as well as allow additional 3-5 days for your payment provider to process the transaction.
Is IG safe or scam
No, IG is not a scam. IG is regulated and authorized broker with numerous entities around the world where it all respectively operates under necessary financial licenses like FCA, ASIC (Learn about ASIC Regulated Blueberry Broker), CFTC, DFSA etc. Also, listed on Stock exchange which provides extra security.
Is IG Trading legit?
Yes, IG Trading is fully legit. The IG group of companies is heavily regulated by the top leading authorities worldwide due to its global presence by the appropriate bodies in the territory it operates. As the principal office of the IG is located in the UK, the broker respectively authorized by the Financial Conduct Authority (FCA) regulation, while the stocks and shares ISA accounts are provided by IG Markets Ltd and spread betting by registered IG Index Ltd.
In addition, the IG company units are regulated by the authorities in a number of countries, and is listed in a Stock Exchange, which gives not only an extra layer of trust but ensures in strong establishment basis.
- IG Markets Ltd – authorized by FCA (UK) registration no. 195355
- IG Index Ltd – authorized by FCA (UK) registration no. 114059
- IG Markets Limited – authorized by ASIC (Australia) ABN 84 099 019 851, AFSL 220440
- IG Bank S.A – authorized by FINMA (Switzerland)
- IG Asia Pte Limited – authorized by MAS (Singapore) registration no. 200510021K
- IG Limited – authorized by DIFC (Dubai) registration no. (F001780)
- IG Securities Limited – authorized by FSA (Japan)
- North American Derivatives Exchange Inc. (Nadex) – authorized by CFTC (US) as regulated exchange
The IG indeed achieved many of the progressive and industry goals while been recognized time and time again for both the services and the technology they provide, as well as the working environment. The broker has so many multiple industry awards, that its just better to mention the most important ones and maybe, few more recognitions received during the last year only at the UK:
Based on revenue excluding FX, IG is the world’s No.1 CFD and financial spread betting retail provider.
- #1 Overall Broker 2020
- Best CFD Provider | Best Stocks and Shares ISA Provider 2020
- Best Finance App | Best Multi Platform Provider | ADVFN 2018, 2019, 2020
IG pros & cons
- Founded in 1974, IG is publicly traded (LON: IGG) and regulated in six tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
- IG ranks as the most trusted broker for forex and CFDs in our 2022 Review.
- IG is the ultimate forex broker, finishing 1st Overall in our 2022 ranking.
- Alongside finishing second for Platforms and Tools and first for Research, IG finished Best in Class (top 7) for Offering of Investments (with over 19,000 tradeable instruments), Commissions and Fees, Education, Mobile Trading and Professional Trading.
- IG’s acquisition of tastytrade for $1 billion introduced options trading and listed-derivatives (i.e. futures) trading to U.S. clients.
- In addition to IG Smart Portfolios and share-dealing, IG offers listed derivatives including options and futures trading in the U.S. and Europe, alongside its forex and CFD trading (and Spread Betting for U.K. clients).
- Though IG’s industry-leading web platform is fantastic, its lack of predefined layouts means that some manual configuration is necessary.
- Between premium MT4 add-ons from FX Blue, and Autochartist integration, IG’s MetaTrader offering still only offers 76 tradeable instruments.
In conclusion, the IG group as a large internationally presented broker with its 40 years of experience a very reliable, well-organized and regulated broker. Competitive IG conditions for trading offer a range of products, the advantage of leverage positions, as well as splendid technical, customer and regulation support. IG also is quite known for its advanced programs of webinars and online trading courses which performed via IG Academy, making them the best for beginning traders.