IG Markets Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- MT4
- ProRealTime
- IG Trading Platform
- L2 dealer
- API
- FCA
- BaFin
- ASIC
- MAS
- CySec
- FINMA
- BMA
- CFTC
- NFA
- 1974
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- MT4
- ProRealTime
- IG Trading Platform
- L2 dealer
- API
- FCA
- BaFin
- ASIC
- MAS
- CySec
- FINMA
- BMA
- CFTC
- NFA
- 1974
Our Evaluation of IG Markets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
IG Markets is a moderate-risk broker with the TU Overall Score of 6.68 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by IG Markets clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
IG Markets is a well-known international company focused on financial market services. It is one of the largest CFD and Forex providers. The broker is regulated by reputable supervisory authorities and provides a high level of security for client assets.
Brief Look at 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.
- Regulated activities and participation in compensation funds;
- No minimum deposit requirements when opening an account with the international division;
- Leverage is available for trading currencies and CFDs;
- Wide range of trading assets and markets;
- Fee rebates for new and active existing clients with large trading volumes;
- Floating spreads from 0.6 pips for retail Forex traders;
- Bonuses for new clients and partnership programs for different client categories.
- The broker can reject opening accounts to traders with low capital or insufficient knowledge of derivatives trading;
- Deposits and withdrawals can’t be made with e-wallets, electronic payment systems, or cryptocurrencies;
- Trading conditions differ for various countries, so you have to look for the broker’s website in your country.
TU Expert Advice
Financial expert and analyst at Traders Union
IG Markets offers a wide choice of trading platforms, including the classic MetaTrader 4, the broker’s proprietary IG Trading Platform, and specialized ProRealTime and L2 Dealer platforms for professional trading. If its clients want to trade from smartphones, they can use IG, MT4, or web platforms. All versions of IG Markets platforms support watch lists and chart trading. Available order types are market, stop, limit, guaranteed stop, and trailing stop.
The proprietary platforms are intended for trading numerous instruments. MT4 provides for trading Forex, indices, cryptocurrencies, and commodities. Besides the above assets, the IG Trading Platform offers stocks, options, bonds, interest rates, etc.
IG Markets trading conditions can vary subject to the regulator in a particular country. For example, restrictions apply to available leverage, bonuses, partnership programs, and choice of trading instruments. When opening an account, traders are redirected to the website of the broker that services a certain region. It provides all the working details and trading rules. The Bermuda International Representative Office is more loyal to its clients, but it doesn’t work with traders from other countries.
IG Markets Summary
Your capital is at risk. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
| 💻 Trading platform: | MetaTrader 4, IG Trading Platform, ProRealTime, L2 Dealer, and API |
|---|---|
| 📊 Accounts: | Demo and CFD |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Visa, Mastercard, and bank transfers |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | Up to 1:200 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 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 |
| 🏛 Liquidity provider: | Large banks |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market |
| ⭐ Trading features: |
Leverage depends on the instrument and the regulator; Hedging and EAs are allowed. |
| 🎁 Contests and bonuses: | Yes |
IG Markets' non-professional clients can start trading with any amount. If traders are qualified or educated in financial markets and want to get direct access to currency markets and DMA (Direct Market Access) stocks, they are required to deposit a $2,000 minimum. IG Markets offers the following leverage: for indices and Forex, it is 1:200; for commodities, it is 1:50-1:200; and for stocks and cryptocurrencies, it is 1:10. Live and demo accounts are available.
IG Markets Key Parameters Evaluation
Trading Account Opening
The user account is a client zone on the IG Markets website. To register with the broker, complete the following steps:
Provide your personal data and confirm it with the corresponding documents. Click the “Create live account” button to fill in the form.
Choose your country of residence, specify your name and email, and make a username and password to protect your user account. Upon clicking the “Next” button, the company automatically opens the CFD Account for you. To log into My IG (IG Markets’ user account), enter your username and password.
Traders can conduct the following actions in My IG:
Additional features of My IG that allow traders to:
-
Open a demo account;
-
Deposit and withdraw funds;
-
View statistics on active accounts such as capital, free margin, and total profit/loss;
-
Connect two-factor authentication (2FA);
-
Produce a report on accrued rewards under the Refer a Friend program.
Regulation and Safety
The IG Markets brand unites over 10 licensed brokerage and investment companies. The first of them was incorporated in 1974 in the UK and has been regulated by FCA, one of the world’s most reputable regulatory authorities, since 2001. IG Markets is registered under number 04008957 as a company for trading securities and commodity contracts.
IG Markets is a member of the Financial Services Compensation Scheme (FSCS). This fund covers trader losses, if the broker faces financial difficulties. Each client can receive compensation of up to GBP 85,000.
Other companies of IG Group are also licensed. Among regulators that supervise their activities are BaFin, ASIC, MAS (Monetary Authority of Singapore), CySec, FINMA, BMA, etc.
Advantages
- Client deposits are held in segregated accounts with well-known banks, such as Barclays and Lloyds
- Regular financial supervision by authorities that issued licenses for the broker
- Growth of the company’s net profit and its internal capital reserves
Disadvantages
- Negative balance protection isn’t provided to all clients
- Trader loss compensation isn’t available in all regions
- Regulators of certain countries reduce leverage and forbid bonuses
Commissions & Fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From $6 | YES |
Accounts are opened and maintained free of charge. Inactivity fees are withheld if traders don’t execute trades or transfer funds within 2 years.
TU analysts have calculated the average fees of IG Markets and two other Forex and CFD brokers.
| Broker | Average commission | Level |
|---|---|---|
|
$6 | |
|
$1 | |
|
$8.5 |
Account Types
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.
Deposit and Withdrawal
-
To withdraw funds, submit a request in your user account. The broker only processes requests of verified users.
-
All withdrawals are made in USD. The minimum amount is $150. However, if there are fewer funds in the account, clients can withdraw funds based on a free margin.
-
Not more than $25,000 a day can be withdrawn to a bank card. There are no limits for bank transfers.
-
IG Markets offers two withdrawal methods — bank accounts and bank cards. Its clients can’t withdraw their funds to third parties.
-
The speed of crediting funds depends on the payment policy of a client’s bank. Withdrawals to a bank card take 2-5 business days, and to a bank account, it’s 1-3 days.
-
A bank card issuer can withhold up to 2.3% of the transaction amount including VAT.
Investment Options
IG Markets clients can receive active and passive income. The broker offers several options that allow it to make trading and analysis simpler. Some of the options completely automate the trading process.
Passive income options offered by IG Markets
The company applies standard income solutions without speculative trading. Traders can use the following options:
-
Algorithmic trading. Traders can use special programs that open and close trades according to set parameters. This type of trading is available on MT4, ProRealTime, and API.
-
Managed accounts. The broker works with professional managers, who can simultaneously execute trades on numerous accounts of connected investors. This type of activity is available on MetaTrader 4 and L2 Dealer.
-
Copy trading. This service provides for automated copying positions of selected traders on MT4. Copy trading is the most popular type of social trading due to its simplicity and the possibility to start with small amounts.
-
Trading signals. Traders, who use the broker’s proprietary platforms, get access to free signals. These are specific buy or sell recommendations from IG Markets experts on Forex and CFDs on commodities and stock indices. Signals are not copied automatically, which allows traders to test them on a demo account and make informed trading decisions.
IG Markets clients can also use signals from third-party providers. Signals for the Forex market based on technical analysis are broadcast from Autochartist, and signals based on fundamental analysis are from Acuity.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com 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.
Partnership programs from IG Markets:
-
Refer a Friend. Existing clients can receive rewards for attracting new active traders. Rewards depend on trading fees that referrals pay to the broker within 3 months of account opening. If fees are up to $999, the reward is $250; for $1,000-$3,999.99, it is $500; and from $4,000, it is $2,000. If minimum requirements are not met, the broker pays $100 per referral. The total reward cannot exceed $10,000.
-
Introducing Brokers (IBs). It is a program for individuals and companies interested in receiving profits from advising IG Markets’ services to their clients and a wide range of traders.
-
Asset managers. This is an offer for experienced account managers who are ready to execute block trades on numerous accounts on L2 Dealer and MT4.
IG Markets offers partnership programs for marketing and asset management professionals and individuals who use its services for their own purposes.
Additional Trading Tools
To assist traders in market analysis and building effective strategies, IG provides the following tools:
-
Forex and CFD calculator. With its help, traders can calculate margin requirements, as well as potential profit and loss values for a specific trade.
Useful tools of IG - Forex and CFD calculator -
News and Trading Ideas. The broker's website broadcasts real-time prices of Forex, stocks, and stock indices, as well as publishes analytical reviews and forecasts for the most popular markets.
Useful tools of IG - News and Trading Ideas -
Application Programming Interface (API). It allows experienced traders to model their own trading platforms, write programs for algorithmic trading, and receive real-time market data.
Useful tools of IG - Application Programming Interface (API) -
Reduction of trading minimums. New clients can execute CFD trades on U.S. and Hong Kong stocks with a lower volume (50% of IG's standard requirements) and lower fees.
Useful tools of IG - Reduction of trading minimums
Customer Support
Technical support is available from 08:00 Saturday to 22:00 Friday (GMT). The LINE network isn’t available at the moment.
Advantages
- The support team provides expert assistance
- Many communication channels are provided
Disadvantages
- 24/7 support isn’t available
- No call back option
The following communication channels are available:
-
Live chat;
-
Telephone;
-
Email;
-
Twitter;
-
Facebook;
-
WhatsApp;
-
Feedback form on the website.
If clients use in-house IG Markets platforms, they can request assistance directly.
Contacts
| Foundation date | 1974 |
|---|---|
| Registration address | IG International Ltd, Innovation House, 46 Reid Street Hamilton, HM12, Bermuda |
| Regulation | FCA, BaFin, ASIC, MAS, CySec, FINMA, BMA, CFTC, NFA |
| Official site | https://www.ig.com/en |
| Contacts |
+44 (20) 7633 5430
|
Education
IG Markets offers various forms of education. It holds seminars and webinars, posts podcasts, and provides access to free online trading courses. The broker’s website contains a special section with articles for novice traders.
IG Markets offers demo accounts that allow new clients to try their skills and strategies without financial risks. Demo accounts help traders master the platform, study markets, and practice trading in real market conditions but with virtual funds.
Comparison of IG Markets with other Brokers
| IG Markets | RoboForex | Pocket Option | Exness | TeleTrade | FxGlory | |
| 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 | MT4, MobileTrading, MT5 |
| Min deposit | $1 | $10 | $5 | $10 | $1 | $1 |
| Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:10 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | 8.00% |
| Spread | From 0.4 points | From 0 points | From 1.2 point | From 1 point | From 0.8 points | From 2 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 70% / 20% | 20% / 10% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Instant Execution, Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of IG Markets
IG Markets is a global brokerage network that provides access to the 23 largest international exchanges and 27 main commodity markets. Also, it offers direct market access and trading Forex and CFDs on the OTC (over-the-counter) market. The broker offers a wide choice of trading platforms for traders with any experience, covers thousands of markets, and provides high-quality information and technical support.
IG Markets by the numbers:
-
Over 45 years of providing brokerage services;
-
Access to more than 17,000 global markets;
-
Over 313,000 clients worldwide;
-
Representative offices are located in 17 countries;
-
The company’s market capitalization is GBP 2.5 billion;
-
Equity is GBP 160 million.
IG Markets offers trading currencies and CFDs for professional and retail traders
The company offers trading various currency pairs, such as major, minor, exotic, Australasian (pairs with AUD and NZD), Scandinavian (pairs with NOK, DKK, and SEK), and emerging (pairs from developing markets). In total, there are 98 pairs. Also, its clients can trade CFDs on over 40 indices, 15 cryptocurrencies, stocks, and ETFs. Available commodities are 7 energies, 9 metals, and 21 contracts for agricultural products. Traders can also invest in futures on indices and commodities.
The L2 Dealer platform provides for using the DMA model for trading directly through order books of international exchanges without interference from a dealer. Available asset types are Forex and CFDs on stocks. Only professional clients can use L2 Dealer. Another platform for advanced users is ProRealTime.
Useful services offered by IG Markets:
-
Economic calendar. It monitors important fundamental data and events that can influence market movement.
-
Market news and trading ideas. It provides reviews of important events that can influence the asset value in different markets.
-
Trading analytics tool. Traders can analyze the history of their trades, monitor their profits and losses, and receive reviews and recommendations based on recently closed trades.
-
Important market information. The broker’s website provides current rates, Forex charts, and fundamental and technical analyses.
Advantages:
The broker is highly reputable;
Fee discounts are subject to the trading volume;
Availability of algorithmic programs and apps;
No fees on currency pairs, traders pay only spreads;
Free trading signals from IG Group experts and third-party analysts.
The broker offers a wide range of financial instruments, such as stocks, stock indices, currency pairs, commodities, and other CFD types. Its clients can trade on international financial markets through IG Markets' in-house platforms or MetaTrader 4.