IG Markets Fees and Minimum Deposit - TU Expert review
While reliability is paramount, fees and minimum deposits are crucial factors when choosing a broker. Lower fees with diverse options make a broker more attractive for trading. The minimum deposit is another important factor for new traders who may not have a substantial amount to invest immediately.
Traders Union analyzed IG Markets fees, minimum deposit requirements, and commission structure to assess their suitability for beginner traders.
Short introduction of IG Markets
IG Markets has been providing brokerage services for retail traders since 2014. It was established in 1974 in London to work with professional traders. It is a part of the IG Group with representative offices in 17 countries. IG Markets stocks are traded on the London Stock Exchange as a part of the FTSE 250 index. The broker is regulated by FCA (Financial Conduct Authority | the UK), CySec (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), BaFin (the Federal Financial Supervisory Authority | Germany), FINMA (Swiss Financial Market Supervisory Authority), and NFA (National Futures Association). The IG Group global representative office is supervised by BMA (the Bermuda Monetary Authority). The broker provides services of trading Forex and different CFDs through MetaTrader 4 and its in-house platforms for retail and professional traders.
| 💰 Account currency: | USD |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | Up to 1:200 |
| 💱 Spread: | From 0.165-0.4 pips on Forex, subject to the client's status |
| 🔧 Instruments: | Forex; CFDs on indices, commodities, and stocks; Cryptocurrencies, options, interest rates, sectors, bonds, knock-outs, ETFs, and Futures on indices and commodities |
| 💹 Margin Call / Stop Out: | No |
IG Markets Commissions and Fees
IG Markets charges trading fees for CFDs on stocks and variable spreads for Forex and other types of CFDs. For trading CFDs on U.S. stocks, the broker withholds $0.02 per share, but not less than $15 when trading online and $25 when placing orders by phone. On other stocks, the broker charges 0.08%-0.25% of the trade amount subject to the market. Also, there is a minimum fee. For example, it is €10 for EU stocks. Minimum spreads for spot gold are 0.3 pips; for silver, it is 2 pips; for oil, it is 2.8 pips; for indices, it is 1 pips; and for cryptocurrencies, it is 0.17 pips. Spreads for Forex when using the DMA model, start at 0.165 pips; however, this type of trading is available only to professional traders. Spreads for retail clients start at 0.6 pips. Swaps are charged for transferring positions overnight.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $6 | YES |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
IG Markets Minimum deposit
Guide on how traders can start earning profits
To start trading on IG Markets platforms, open an account with the broker and make a deposit. It can be $1, if you choose a bank transfer. For deposits made from a bank card, the minimum amount is $50.
Account types:
A demo account is a virtual counterpart of the CFD Account. Traders can create it on the broker’s proprietary platforms and MT4. A demo account doesn't require deposits. It is a risk-free tool for training and studying the broker’s conditions.
The company provides access to international financial markets and offers investment consulting, educational materials, various tools, and analytical data to help its clients make trading decisions.
Brokers similar to IG Markets
When analyzing IG Markets, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of IG Markets and other brokers.
Comparison of IG Markets with other Brokers
| IG Markets | RoboForex | Pocket Option | Exness | AMarkets | 4XC | |
|---|---|---|---|---|---|---|
|
Trading platform |
MetaTrader4, API, ProRealTime, IG Trading Platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MT5, AMarkets App |
MT5, MT4, WebTrader |
|
Min deposit |
$1 |
$10 |
$5 |
$10 |
$100 |
$50 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
From 0.4 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
$50 |
|
Cent accounts |
No |
Yes |
No |
No |
No |
No |
| IG Markets | RoboForex | Pocket Option | Exness | AMarkets | 4XC | |
|---|---|---|---|---|---|---|
|
Forex |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Metalls |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Crypto |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
|
CFD |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Indexes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
Stock |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
|
ETF |
Yes |
Yes |
No |
No |
No |
No |
|
Options |
Yes |
No |
No |
No |
No |
No |
Could I recommend IG Markets to a beginner trader?
Analysis of IG Markets shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
Can the fees differ depending on the asset?
Yes. This is why many brokers specify the fees for each asset individually.
Can you cover the fees with bonuses?
Yes, it is possible. Some brokers offer a welcome or deposit bonus that can be used to cover the fees.
Can the minimum deposit differ depending on the trading account type?
Yes. Brokers often encourage clients to deposit large amounts to the account by offering better trading conditions.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.