IG Markets Review 2020

Overall rating

Overall rating

7.9

/10

IG Markets Review 2020
Davis J.
Robertson A.
September 2020
Analysis of the Main Features of the Forex Broker

7.9

Overall rating

7.9

/10

Execution of orders

7.6

/10

Investment instruments

7.8

/10

Withdrawal speed

7.9

/10

Customer Support work

8

/10

Variety of instruments

8.2

/10

Trading platform

17

Position
in rating

7.9

/10

Overall rating

Trading terminals:

MT4
17

Position in rating

7.9/10
Overall rating

Trading terminals:

MT4

Summary of IG Markets Trading Company

The Forex broker IG Markets is a structural subdivision of the IG Group corporation. Its securities are listed on the London Stock Exchange and are included in the FTSE 250 index. IG Markets is a UK registered company created in 1974, but since its inception, its representative offices have appeared in some other European countries. Since 2014, a retail line of brokerage services has been opened. The international division of the broker is registered in Bermuda and licensed by the Bermuda Monetary Authority. The main activity of the broker is the provision of services for trading financial derivatives (CFDs).

Attention!

We work exclusively with the accounts opened through Traders Union.

👍 Advantages of trading with IG Markets:

  • reliability. IG Markets is part of the IG Group, founded in 1974. Its subsidiaries are also licensed by the British regulator FCA, the Monetary Authority of Singapore (MAS), and the American regulators CFTC, and NFA;
  • 16,000 trading instruments, investments in IPOs and exchange-traded funds;
  • relatively good spreads, from 0.6-1 pips depending on the type of instrument;
  • customer support is 24/7.

👎 Disadvantages of IG Markets:

  • high threshold of entry which discourages private novice traders;
  • complicated and unpleasant verification procedure. There are cases of refusal to open an account due to unconfirmed or low income;
  • there are technical problems with order execution (according to traders' feedback);
  • there are no products for passive investment, no bonus system is provided;
  • a limited set of options for depositing and withdrawing money, which is not very convenient for global Forex traders;
  • a fee is charged for an inactive account;
  • the site is inconvenient. No information on trading accounts, no offer, and no contract specifications.

Overall

The broker IG Markets (sometimes “IG”) is more focused on traders from Europe than traders on other continents. The company provides classic types of services without any unique technological products.

Visit IG Markets

IG Markets Latest Comments for 2020

1
0
14

The reviews by customers of the IG Markets indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of IG Markets published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.

The British brokerage company IG Markets has been operating online for about a decade. I found information about it back in 2014 and immediately registered. I remember there were many difficulties with verifying my information to open an account with them. They were reluctant to accept my legitimate documents. That soured my enthusiasm to associate with them because it was taking so long and they constantly rejected my authentic paperwork. So I did not trade with them and went to another broker. This year I returned here by accident after finding the broker's review on a closed forum. I was attracted by a writer’s feedback on how quick withdrawals were. Absolutely “no problems,” the reviewer wrote. Once I began evaluating IG’s conditions, I concluded a floating spread from 0.6 with a margin of 0.5% to be high, but with the right strategy, you can still trade with a profit.

I trade with IG Markets using an Android tablet because the functionality of the MT4 platform includes all you need. It is enough to quickly register and create an account. Positions are opened and closed without hindrance and almost instantly. There is a Reuters news app. While you are busy reading the news, the price alerts will not let you miss open positions. IG Markets does not differ much from other online brokers in its trading conditions. As for me, the spreads are wide, but apart from the spreads, there are no commissions, so I'm staying with this broker for now.

I have been studying Forex for a long time, but could not dare to start trading. The huge volume of negative reviews about various brokerages kept me away. I embarked on a time-consuming selection process, and finally, I settled on IG Markets. I was attracted by IG’s great history and its nearly 200,000 customers worldwide. I registered, was verified, and started trading, but I couldn’t find Metatrader 5. It seemed like it was a top broker, but it lags behind the peasants when it comes to technical fundamentals such as having available a premier trading platform. I traded with IG for only a month before finding a more progressive broker with more favorable conditions and an MT5 terminal.

IG Markets’ niche is the foreign exchange market. There are several investment methods and opportunities, so you can get passive income without actually doing the trading yourself. I am interested in cryptocurrencies, commodities, and options. Oil spreads frustrate me with the sizes from 2.8 pips! For some people, this may be normal, but it intimidates me. Pending orders have some problems with limits. Trading conditions for currency pairs are average: a spread of 0.6 pips and a minimum number of requotes. I consider such conditions to be quite acceptable for trading.

IG Markets is a senior firm with a decent reputation. I’ve been working with IG since its online platform launched. There have been crests and troughs in its trading conditions and customer satisfaction. In 2015, I narrowly saved my entire deposit, but then sustained many incremental losses that added up quickly. Not everyone was as lucky as me because many people lost high dollars. A friend from work lost $7,000 in one day. In general, I am OK with this broker. I tried to open deposits with other brokers, but then somehow, I gave up. Everywhere there are pros and cons, but I'm used to working here. Moreover, their web-platform is stable, and the spreads are okay.

Everything is superb and the support managers are superb! I have no complaints. I can't characterize the Forex market as I don't trade currency. I invest in government bonds and CFDs through IG Markets. The cost of a CFD contract is about $10 and a spread of 2 pips suits me. But the limiting risks payment, in my opinion, is unreasonably high. There are no additional commissions for opening positions. There were no problems with withdrawing funds from the deposit. Replenishment can be made using a bank card or via a bank transfer in euros or dollars. You can use the same methods for withdrawal. In general, everything is thought out and convenient.

IG Markets is the oldest player in the European currency market. It makes the Top 250 of the largest companies in the UK, with total assets of $3 billion. However, its tech inventory lags behind today’s online Forex market standards by five years. That's just funny. It must introduce more trading tools, expand its platforms, and adopt mobile trading. The iPhone was invented in 2003, for goodness sakes! They need a web platform that is compatible with any browser. You should not need to download the platform. Dear IG Markets management, please pay more attention to traders with a small deposit, because we are in the majority here!

2 3 >

Expert Review of IG Markets

The broker IG Markets is noted for being part of a financial holding company that provides many types of services in the foreign exchange and over-the-counter markets, including trust management and investment consulting support. IG Markets is focused on providing services in the retail segment of CFDs (derivatives, contracts for difference). Any IG Markets client can open an account using a simplified procedure in subsidiaries of the IG Group (for example, IG Index) and go directly to the London Stock Exchange (LSE). IG Markets has no restrictions on working with foreign clients.

Trading conditions are more suitable for those who are aimed at long-term cooperation and active trading. The high minimum deposit of $1,000 was recently cut by almost half. Nevertheless, even this amount and the absence of cent accounts "scare off" newcomers. The spread floats.

The IG platform is not very user-friendly, but with lots of practice, you will manage it. It has little information on site, but the support team is eager to answer your questions. The broker has been a partner of the Traders Union for several years and is included in the Traders Union ratings list of Forex brokers. Therefore every active trader on IG Markets can use the rebate service to get partial compensation on his every trade.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of the Forex Broker

7.9

Overall rating

7.9

/10

Execution of orders

7.6

/10

Investment instruments

7.8

/10

Withdrawal speed

7.9

/10

Customer Support work

8

/10

Variety of instruments

8.2

/10

Trading platform

Dynamics of the Popularity of IG Markets
in 2019 among the Users of the Traders Union

Dynamics of the Popularity of IG Markets in 2019 among the Users of the Traders Union

Investment Programs, Available Markets and Products of the Broker

Broker IG Markets is focused on providing classic services to retail clients. The development of investment programs and passive investment products is not among its focus areas or future development plans.

IG Markets affiliate program

  • "Invite a friend". The partner receives $100 for each attracted referral who must carry out 5 transactions of the corresponding volume (possibly, 5 lots are implied) within 6 months. Also, additional bonuses are awarded for every 3rd and 5th referral. The referrals themselves will also receive a $100 bonus after completing the required transactions.

A partner can build a multi-level program with its profitability score displayed in their Personal account.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Rebate and Discount Programs of the Traders Union for IG Markets

IG is a partner of Traders Union. Each client of the Union can further reduce their trading costs by using the Union’s rebate service. Register for free on the Traders Union website (only 15 minutes, including verification), open an account with IG Markets using the affiliate link and receive compensation for the spread on the balance of the Traders Union Personal account. It is possible to connect to the rebate program even with existing clients of the broker.

Try it!  You’ll like this!

Trading Conditions for IG Markets Users

IG Markets’ trading conditions are average among its competitors. A high minimum deposit and a leverage of up to 1:200 curtail the possibilities of implementing a number of high-risk strategies and testing the account and platform functionality by novice traders. The spread floats. According to trading conditions, the average spread is 0.75 pips, the minimum is from 0.6 pips.

$450

Minimum
deposit

Up to 1:200

Leverage

24/7

Support

MT4
Trading platform: MT4, IG Trading Platform, L2 dealer, browser platform
Accounts: Demo, Standard
Account currency: USD
Replenishment/Withdrawal: Bank transfer, payment cards
Minimum deposit: $450
Leverage: Up to 1:200
PAMM-accounts: No
Min Order: 0.01
Spread: From 0.6 pips (for currencies)
Instruments: Currencies, assets of stock and commodity markets, cryptocurrencies
Margin call/Stop Out: N/a
Liquidity provider: N/a
Mobile trading: Yes
Affiliate program: Yes
Orders execution: Market execution
Trading features: Allows crypto trading
Contests and bonuses: No

Comparison of IG Markets with other Brokers

IG Markets FxPro Admiral Markets UK XM Group AvaTrade
Trading
platform
MetaTrader4, Web platform, ProRealTime, Trading apps MT4, MobileTrading, MT5, cTrader MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition MT4, MT5, MobileTrading MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option
Min deposit $300 $100 $200 $5 $100
Leverage From 1:1
to 1:200
From 1:1
to 1:500
From 1:25
to 1:500
From 1:1
to 1:888
From 1:200
to 1:400
Trust management No No No No No
Accrual of % on the balance No No No No No
Spread From 0 points From 1 point From 0 points From 1 point From 0 points
Level of margin call
/ stop out
100%  /  50% 25%  /  20% 100%  /  30% 50%  /  20% 25%  /  10%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution Instant Execution
No deposit bonus No No No $30 No
Cent accounts No No No Yes Yes

Broker comparison table of trading instruments

IG Markets FxPro Admiral Markets UK XM Group AvaTrade
Forex Yes Yes Yes Yes Yes
Metalls No Yes Yes Yes Yes
Crypto Yes No Yes No Yes
CFD Yes Yes Yes Yes Yes
indexes Yes Yes Yes Yes Yes
Stock Yes No Yes Yes Yes
ETF Yes No Yes No No
Options Yes No No No No

IG Markets Commissions & Fees

Information

Specialists at Traders Union have analyzed IG Markets’ trading conditions for explicit and hidden commissions. There are no hidden fees, but potential clients should pay attention to the differentiation of fixed and floating fees for different groups of instruments.

Account type Spread (minimum value) Withdrawal commission
Standard From $6 YES

There are swaps (commission for moving a position to the next day). Also, Traders Union analysts made a comparative analysis of competitors' commissions. A table was formed based on this analysis with the assignment of a level from low to high.

Broker Average commission Level
IG Markets $6 Medium
FxPro $13.2 High
Admiral Markets UK $5 Low
IG Markets
$6
FxPro
$13.2
Admiral Markets UK
$5
Conclusion

Broker IG Markets offers quite good spreads for individual instruments. The average value of the spread corresponds to the average market indicators. You can reduce your trading costs by joining the rebate program from the Traders Union.

Detailed Review of IG Markets

IG Markets is a subsidiary of the financial corporation of British origin IG Group. The company focuses on providing classic services with the maximum coverage of all existing instruments from currencies and metals to stocks, indices, options, and cryptocurrencies. Also, IG Markets through Forex Direct technology provides a direct trading service at prices from world banks and liquidity providers. Direct access to exchange markets is allowed.

A few figures about IG Markets that may be of interest to traders:

  • coverage of more than 15 thousand markets;

  • more than 195 thousand traders around the world;

  • experience in the market since 1974.

IG Markets is a broker for professional trading in the Forex exchange and OTC markets

IG Markets positions itself as an STP/DMA broker working directly with liquidity providers that offer optimal spreads. Depending on the partnership format, trading with spreads and with a fixed commission per turnover is also provided. IG Markets guarantees the best market prices for order execution without slippage.

The main platform is a classic MT4 with slightly modified functionality and IG’s proprietary platform. Each trader gets access to over 100 technical indicators and several flexible charting variations for each market. Segmentation technology allows you to open up to 6 markets on one chart.

IG Markets’s useful services:

  • ProRealTime is an advanced package of technical tools for charting. Recommended for professional traders. Free access subject to at least 4 transactions per month;

  • L2 Dealer is a downloadable IG Markets platform with direct market access (DMA, Forex Direct);

  • Signal Center is a Free software that generates signals based on Autochartist and PIA-First data. Signals are integrated into the platform and delivered in real-time;

  • Watchlist is a service for grouping markets of interest for the convenience of monitoring prices on correlated sites in one window.

Advantages:

1

relatively good refined technical functionality of trading platforms;

2

tight spreads for individual instruments;

3

a long-standing player in the Forex market;

4

algorithmic trading and scalping are allowed.

How to Start Making Profits — Guide for Traders

IG Markets offers only a single main account and a demo account with a $10,000 base deposit.

Account Type
Description
Standard account
It is for all types of assets. The minimum deposit is $450, the leverage depends on the type of instrument (details are provided on the broker's website), the maximum spread is 1:200. The account provides for two types of position volumes: standard lot (1 lot = 100,000 units of the base currency) and mini-lot (1 lot = 1,000 units of the base currency).

The number of demo accounts you can have open is unlimited.

Bonuses Paid by the Broker

The broker's policy does not provide for incentivizing traders with bonus programs. IG Markets tries to motivate its clients with the quality of its services.

Bonus from Traders Union.

Register with Traders Union (takes less than 15 minutes, including verification), open an account using the partner link, and get the opportunity to save even more on trading costs. The spread rebate service is also relevant for active IG Markets traders. Read here about how to link two accounts together, or contact the Traders Union customer service.

Investment Education Online

Information

The broker IG Markets does not emphasize training or services for newcomers. Rather, it focuses mainly on serving experienced, professional traders. Training on the broker's website is presented mainly in the form of examples in practical trading strategies. For beginners, there is a separate section of the IG Academy. The FAQs can be found in the Help section.

Information available in the Analysis and Education section
Unavailable information at IG Markets site
Risk management
No terminology
Current technical and fundamental analysis
No indicator reviews
Reviews on volatility levels 
 
Blog, forums (in the Community subsection)
 

All available instruments can be used to build a trading system.

Security (Investors’ Protection)

Information

Broker IG Markets is part of the IG Group financial group. With a reputation that spans more than 40 years, the group remains accountable for fulfilling its obligations to its traders. IG Markets is licensed by the British regulator FCA. Also, the subsidiaries of IG Group have licenses from other jurisdictions.

👍 Advantages

  • Availability of segregated accounts pursuant to the requirements of its regulators
  • Independent external audit

👎 Disadvantages

  • It is unlikely that licenses from other jurisdictions will somehow be useful to IG Group traders in the event of a conflict of interest

Withdrawal Option and Fees

  • The IG Markets brokerage withdraws money at the request of a trader, made in his Personal account.

  • Account withdrawal or replenishment is done via bank transfer or payment cards.

  • The speed of the transfer of money depends on the payment system you use.

  • The USD is the withdrawal and deposit currency.

  • The maximum withdrawal amount is $50 thousand per day.

  • The service of replenishment or withdrawal of money is available only after verification.

Customers’ Support

Information

The broker's support service is ready to assist around the clock, including weekends.

👍 Advantages

  • Works around the clock
  • Promptly answers your questions

👎 Disadvantages

  • English speaking support only

There are several ways to contact support:

  • directly via the phone numbers indicated on the website;

  • by email.

Support is available from the broker's website and the Personal Cabinet.

Contacts

Registration address IG Markets, Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA
Contacts

Review of the Personal Cabinet of IG Markets

How to open your Personal Cabinet:

1

On the main page of the IG Markets site, in its upper panel, click the “Create live account” button to create a real account or at the bottom of the site ("footer"), click on the “Demo” button.

IG Markets Review - How to open an account
IG Markets Review - How to open an account
IG Markets Review - How to open an account
2

Go through authorization by filling in the following personal data: name, login, country, and email address.

The following functions are available in the IG Markets Personal Cabinet:

3
1. Trading statistics and access to the Academy (basic trading course). IG Markets Review - Trading statistics
IG Markets Review - Trading statistics
2. Account and alert settings. IG Markets Review - Account and alert settings
IG Markets Review - Account and alert settings
1. Trading statistics and access to the Academy (basic trading course). IG Markets Review - Trading statistics
IG Markets Review - Trading statistics
2. Account and alert settings. IG Markets Review - Account and alert settings
IG Markets Review - Account and alert settings

There are also many other useful functions and features here:

  • opening a real account from a demo account;

  • access to the trader Community;

  • archiving trade statistics.

Tags:

ig markets ig markets uk ig markets limited ig markets ltd igmarkets ig com

The Oldest Reviews of the IG Markets

The reviews by customers of the IG Markets indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of IG Markets published on the website in 2020 are verified and confirmed by Traders Union as reliable comments by real traders.

I have been working in the foreign exchange market for 6 years. And with IG Markets I’ve been trading for about a year. There is a large range of assets like news feeds and convenient mobile trading. Funds are credited to the deposit using a bank transfer or plastic cards. There is no commission for depositing or withdrawing money. In the case of an emergency withdrawal, you will have to pay £15. The broker supports the PayPal electronic payment system. The commission in this case will be 1.5%. If there is a need, I contact support using Twitter, but you can also call. By the way, operators work around the clock.

Trading with IG Markets attracted me because the company hedges its risks in the basic market. This is very important now, as the market offers various surprises. During the fledgling years of IG’s online platform, the broker's clients had a tough time. Everyone who traded francs will always remember that 30% drop in 2015. I think this experience was beneficial to the broker because now it is keen to prevent such occurrences. The protection from negative balance tool is proof of this.

I waited a long time for account verification when I registered on IG Markets. Otherwise, there were no problems. I did not download the trading platform; I work directly on the website. I don't like the fact that access to ProRealTime charts is free only sometimes. You need to make at least four trades per month with a huge enough trading volume to use it. Otherwise, by the end of the month, you will have to pay 30 euros. The Reuters news line is suitable for the occasion and monitoring tools are plentiful. I use customizable price alerts all the time and this is a very handy feature.

IG Markets is a pretty decent company with very good customer support that is always ready to promptly resolve any issues within their competence. For half a year there was a delay in the withdrawal of funds. I contacted technical support staff, and they explained to me that there was some kind of technical failure. Eventually, I got the money, albeit after a substantial delay. I make all transfers using a card. I got the stop-loss notice a couple more times when I placed an order following the trend. I believe the delays are caused by a weak or slow Internet connection. Generally speaking, I am satisfied with the IG Markets service and conditions, so I am not going to look for another broker just yet.

In general, IG Markets is not much different from its competitors regarding trading conditions. The high level of customer support in all countries where the company is represented is captivating. The website is well-designed but has a simple style. Information about the company is frequently updated and prices on world markets are constantly monitored. You can choose between 2 types of real accounts and use a demo for 14 days. The minimum deposit is $200, but I doubt if it is possible to earn with such a small amount.

For me, as a scalper, a spread of 0.6 pips and a leverage of 1:200 are perfect conditions for trading. I had an unpleasant experience with the MetaTrader 4 platform. The terminal freezes with any action, from placing an order to scrolling the chart. It happened that with the volatility increase in the market, MT4 generally stalled, and there was nothing to do but wait for the completion of the leaps in the market. Naturally, this most often caused me to suffer a loss. After maintenance on the site, slippage happens less often. I am satisfied with the fast withdrawal of funds and the responsive support team.

IG Markets has a large number of currency pairs for swap trading. By keeping the order open long enough during the night, you can get a good profit. But a floating spread of 0.8 pips on average significantly reduces the profit. Requotes also occur frequently. It is impossible to trade profitably with a small deposit. I believe that with the current spread and trading volume requirements for comfortable trading, you need a deposit of at least $500. I still do not know if I am ready to entrust that much money to IG Markets, so I trade with another broker at the same time. I'll compare the conditions, and then we'll see.

Author of this Review

IG Markets broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the IG Markets rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about IG Markets you need to go to the broker's profile.

How to leave a review about IG Markets on the Traders Union website?

To leave a review about IG Markets, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about IG Markets on a non-Traders Union client?

Anyone can leave feedback about IG Markets on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with IG Markets through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.