IG Markets India Review in 2024
IG Markets has a proven track record of being a reputable and highly competent forex broker in India as well as other parts of the world. The platform offers a comprehensive trading package that includes excellent trading and research tools and a wide range of tradable markets.
Traders who use IG Markets can feel confident that they’re working with a broker that’s highly regulated and compliant. IG’s holding company IG Group Holding plc is registered with the London Stock Exchange (LSE) and a member of FTSE 250.
Photo: IG Markets
IG Markets India - General Information
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💰 Account currency:
USD
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🚀 Minimum deposit:
$0
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⚖️ Leverage:
Up to 200:1
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💱 Spread:
From 0.8 pips (for currencies)
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🔧 Instruments:
Currencies, assets of stock and commodity markets, cryptocurrencies
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💹 Margin Call / Stop Out:
N/a
Pros and Cons
👍 Pros
• First-class web trading platform
• Superb educational tools
• Great deposit and withdrawal options
• Easy-to-navigate platform is easy for beginners to master that’s great for beginners
👎 Cons
• High forex and stock CFD fees
• Customer service options are lacking
• Inactivity fee
IG Markets India Review
Indian traders are eligible to open an account with IG Markets with no minimum deposit required. Therefore, new traders don’t need to fund their accounts right away.
With that said, traders in India can benefit from IG Markets’ wide range of features.
IG Markets Account Types
IG Markets offers two main account types: a CFD trading account and a direct market access (DMA) account.
CFD Trading Account
When opening a CFD trading account with IG Markets, traders aren’t required to make an initial deposit. Traders can trade on either the MetaTrader 4 (MT4) platform or they can trade on the IG platform.
DMA (Direct Market Access) Account
A DMA account provides traders with higher leverage in exchange for less regulatory protection. Clients with this account also won’t have negative balance protection.
To open a DMA Forex account, you must be a professional trader. In order to qualify as a professional trader with IG markets, you must meet two of three criteria:
Your trading must average 10 large leverage transactions per quarter over the last 4 quarters.
You must have a financial instrument portfolio, including cash deposits, exceeding €500,000 (Euros) or your country’s equivalent currency.
You must have professional experience in the financial sector and knowledge of derivative trading.
Other Accounts
Additional IG Markets account offerings include:
Spread betting
Share dealing
ISA
SIPP
IG Investments Smart Portfolios
IG Markets Deposits and Withdrawals
Deposits
IG Markets offers a wide range of account types. Of all the account types, none of them require a minimum deposit. This allows new traders to try out the platform before committing large sums of money.
When you join IG Markets, you can fund your account in the following ways:
Bank wire transfer
Credit/debit cards
PayPal
Skrill
Neteller
You can fund your account with the following currencies:
USD
GBP
EUR
CAD
AUD
…and more
Withdrawals
You can withdraw funds from your account using the same methods in which you added money to it. If you withdraw money from your IG Markets trading account, you can expect funds to arrive in your account within 3 to 5 days.
IG Markets Trading Platforms
Web Trading Platform
Photo: IG Markets trading platform
IG Markets has its very own web trading platform that allows you to manage your account, register cards, make payments, and more. The platform also includes browser-based research tools like streaming news, economic calendar, and signals.
MetaTrader 4
When using the MetaTrader 4 (MT4) platform with your IG Markets account, you’ll gain access to automated trading tools, advanced analysis, and free add-ons.
L2 Dealer
L2 Dealer is IG’s first direct market access (DMA) platform that allows you to trade either share or forex CFDs, or deal shares outright on international exchanges.
ProRealTime (IG Markets Platform and L2 Dealer only)
ProRealTime is a technical analysis platform that supports automated trading for a large variety of assets.
Features of ProRealTime include:
Powerful decision support tools
Efficient trading interface
Automatic trading and backtesting
Fast order execution
Detailed trading reports
…and more
IG Markets Trading Tools
Autochartist (MT4 only)
Chart pattern recognition
Fibonacci pattern recognition
Key level analysis
Pattern quality indication
MT4 Indicators (MT4 only)
Mini terminal
Trade terminal
Stealth orders
Correlation matrix
Sentiment trader
Broker’s Fees
US Stocks and ETFs
Although no minimum funding is required to open a trading account, IG Markets does charge commission fees. These fees start from $0.02 per share (minimum US$10) for US stocks and ETFs.
CFDs
Wih CFDs, IG Markets charges only a commission for share trading. The commission fee IG Markets charges for CFDs is a percentage of the transaction value for most markets and cents/share for US and Canadian markets.
The amount of your commission depends on the markets, trading method, and the trade consideration for exchange-traded products.
Forex
If forex trading in a currency other than your account’s base currency, IG Markets may require a currency conversion charge. Their standard charge is 0.5%.
Photo: IG Markets Spreads and Margins
Extra Services and Charges
In addition to trading charges and commissions, there are other services IG Markets charges for. For example, the broker charges a $12 inactivity fee on the first of every month if you haven’t traded within the past two years or more.
Other fees include charges that come from third parties. For example, IG charges fees for international deposits and those that aren’t in US dollars. IG Markets also charges a fee if you make a withdrawal via wire payments, which totals $15.
Trading Assets
IG is an industry-leading broker with over 16,000 tradable assets. These include:
Stocks
ETFs, including India 50 Index (IN50)
Commodities
Photo: Forex trading on IG Markets
Is IG Markets India Regulated? Is This Сompany Safe?
Regulated by 17 national authorities and publicly listed on the London Stock Exchange, IG Markets is considered low-risk, with an overall Trust Score of 99 out of 99.
However, Indian clients will be trading through the Bermuda-regulated subsidiary, which has is less regulated than IG Markets’ companies based in the UK and Australia.
As an Indian trader, you also won’t have negative balance protection or access to any kind of compensation or official conflict resolution in the event of a dispute with IG Markets.
Summary
Should Indian clients choose this broker? It seems like a nice option because of local regulation, low fees, and great choice of available markets. The platform is also suitable for traders of varying experience levels.
So, whether you’re a small trader or a market professional, you can enjoy IG’s competitive spreads, thousands of trading instruments, and state-of-the-art news, research, and educational portal.
Top 5 IG Markets Reviews
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Comment
Personally, what attracts me the most is the access to options with a low deposit at IG Markets broker. However, everything comes with a price: commissions and premiums are higher compared to companies with higher margin requirements. By the way, with a minimum deposit of $200 for options, you won't get much leverage. So, to feel more comfortable, you need to deposit at least 10 times more money into your account.
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Comment
I can briefly share my experience. Overall, if you don't dwell on withdrawal issues, everything is fine. I withdraw funds to my card or in USDT almost every month. Initially, I had doubts about IG Markets, but after several consistent withdrawals to my card, I started to trust them more. Although the profit is not that great because the amount constantly circulates in the balance: I deposit, trade, withdraw profit. But I enjoy the trading process itself, so I have no complaints about IG Markets broker.
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Comment
I have recently explored IG Markets. My first impressions are positive. I had a lot of questions and contacted the support service. I was pleasantly surprised, since all questions were explained to me promptly and in full. Working is convenient, the IG Markets website is informative, and the platform has a lot of trading tools for every taste. In general, I am satisfied. I hope everything will be just as good.
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Comment
I've known the broker IG Markets for several years. I started trading here when I had no experience with currency pairs. Over time, I gained experience and stopped losing my money. IG Markets is not my primary broker. I maintain a smaller deposit here compared to another company where the conditions are better. However, the first broker is the first broker, and I don't want to leave it.
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Comment
Broker IG Markets is well-known among European traders. The platform is very intuitive and user-friendly, with a fast trading terminal. Over three years of collaboration, I rarely noticed any issues with the IG Markets terminal. The minimum initial capital requirement is above average, and it might be inconvenient for novice traders to open a trading account here. However, for experienced traders, both the minimum deposit and the leverage size pose no significant problems.
FAQs
How much does IG charge per trade?
The amount IG charges per trade depends on the asset class and product you trade. The broker makes its money from the spreads of trades and commissions on products like shares.
Is my money safe with IG?
No matter which broker you choose, trading will always come with risk. However, IG is a well-regulated international broker that strictly follows the guidelines set up by several financial regulators and organizations.
Team that worked on the article
Matthew Du is a SEO Content Marketing Professional and a contributor to the Traders Union website with five years of experience in digital marketing, along with a proven track record in SEO content strategy, media planning, data analytics, and copywriting. He has excellent communication skills and the ability to engage the audience with his deep understanding of the market.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
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Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.