IG Review – Is it Safe to trade?

| Publish date: 12/10/2019 (Last updated: December 10, 2019 12:49 PM)
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IG Review
9.6/10
FCA
$450
Minimum Deposit
England

IG’s stock is listed on the London Stock Exchange (LSE) with the ticker IGG. Moreover, IGG is part of the FTSE 250 Index, which tracks the stocks of the 101st to the 350th largest companies traded on the LSE. The broker has a market cap of $2.2 billion as of July 2019.

IG is a London-based company that provides a trading platform where you can buy and sell derivatives like contracts for difference (CFDs) and foreign exchange pairs. Besides, IG has a unique trading product called spread betting, where users can bet on the price movement of an underlying asset. IG accounts for the largest share in the spread betting space.

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eToro is a multi-asset platform which offers CFD and non CFD products. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

IG is a London-based company that provides a trading platform where you can buy and sell derivatives like contracts for difference (CFDs) and foreign exchange pairs. Besides, IG has a unique trading product called spread betting, where users can bet on the price movement of an underlying asset. IG accounts for the largest share in the spread betting space.

The broker has a relatively good reputation, with its stock being listed on the London Stock Exchange (LSE) with the ticker IGG. Moreover, IGG is part of the FTSE 250 Index, which tracks the stocks of the 101st to the 350th largest companies traded on the LSE. The broker has a market cap of $2.2 billion as of July 2019.

IG is a trusted company, being authorized by the UK Financial Conduct Authority (FCA), which also regulates its subsidiaries IG Markets Limited and IG Index Limited. In parallel, IG operates several offices outside the UK, being also regulated by the Australian Securities and Investment Commission (ASIC), Japanese Financial Services Authority (FSA), Swiss Financial Market Supervisory Authority (FINMA), the Monetary Authority of Singapore (MAS), and the US Commodity Futures Trading Commission (CFTC).

The broker has been around for more than four decades and has over 195,000 clients worldwide. While the head office of IG Group is located in London, the company has 13 more offices across the globe.

What Can I Trade with IG?

IG traders can pick from more than 16,000 financial instruments, including cryptocurrencies, forex pairs, company shares, market indices, commodities, options, bonds, and other markets. The broker has one of the, if not the largest, asset index. Here is what you can trade:

  • Eight cryptocurrencies, including Bitcoin, Ether, Bitcoin Cash, Ripple, Litecoin, Stellar Lumens, EOS, and NEO. Besides, traders can diversify their crypto investment by opening positions on the Crypto 10 index, which tracks the performance of the 10 largest digital currencies weighted by market cap.
  • Over 80 forex pairs, including majors (like EUR/USD, GBP/USD), minors (AUD/NZD, NZD/CAD), and exotic pairs (USD/ILS, EUR/MYR).
  • Over 30 index, including Dow Jones, S&P 500, NASDAQ, FTSE 100, DAX 30, and India 50.
  • 40 commodities, including gold, silver, copper, oil, cotton, coffee, London cocoa, and more.
  • Over 12,000 company shares listed on several stock exchanges around the world;

Besides, there are bonds, options, interest rates, and market sectors, among others. The range of tradable instruments is truly amazing – it surprised us.

IG Accounts and Fees

IG offers three main account types – CFD trading account, spread betting account, and a stock trading account where users can buy physical stocks rather than just invest in their CFDs.

Besides, each account type has a demo version with $20,000 virtual money.

The registration process is easy and fast. After the registration, you’ll have to pass through an ID verification process by uploading ID documents.

The broker is quite transparent when it comes to fees and margin requirements. For cryptocurrency traders, the minimum spread varies depending on the coin. Here is the full list of minimum spreads and margin requirements:

IG platforms

For years, IG offered its proprietary trading platform only. Nevertheless, the company noticed that many retail traders are accustomed to MT4, so it added the platform to its list. Besides, traders can pick the ProRealTime terminal, which is a more advanced platform that enables automated trading and incorporates other unique features.

IG’s own platform is quite intuitive. Traders can enable the one-click trading mode for the fastest possible experience. The charts can be split to analyze the same asset across multiple timeframes simultaneously. Traders can perform technical analysis by implementing basic and advanced indicators. The fundamental analysis can also be carried out on-site, including through notifications and news from Reuters and Twitter.

The platform can be accessed from different web browsers. The mobile version is available with iOS, Android, and Windows operating systems.

IG also hosts an advanced platform for Direct Market Access (DMA), called L2 Dealer, but it’s aimed for professional investors only.

IG Payment Options

After opening an account with IG, you can fund it via credit/debit card, bank transfer or PayPal. However, the broker won’t allow you to deposit before passing through a standard ID verification process. The minimum deposit with the broker is $250.

IG uses segregated accounts to ensure that your funds are stored safely.

Customer Support

IG has more than four decades of experience, and its customer support service has played an essential role that has contributed to its reputation. You can contact the team at any time from 8:00 AM Sunday to 10:00 PM Friday, and 9:00 AM to 5:00 PM Saturday (London time):

  • Phone contact: 0800 195 3100;
  • Email for new clients: [email protected];
  • Live chat through the website.

Besides, there is a great help & support page that answers most of the general questions about the accounts, platforms, fees, banking methods, and so on.

 

 

eToro

9.7

User Experience

9.5/10

Payment Options

9.8/10

Security

9.8/10

Support

9.5/10

Reputation

9.9/10

Pros

  • Traders can bet on the price of eight cryptocurrencies. Besides, they can trade on the Crypto10 Index.
  • The spreads are relatively fair. The broker is transparent when it comes to charges and requirements.
  • There are over 12,000 tradable stocks and 40 commodities. We didn’t see such an extended list elsewhere.
  • Besides CFD trading, IG clients can aim for profits via spread betting and options trading.
  • Trading with DMA is available through an advanced platform.

Cons

  • Limited product portfolio
  • High stock CFD fees
eToro
$200
Minimum Deposit

eToro is a multi-asset platform which offers CFD and non CFD products. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500
$100
Minimum Deposit

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

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