IG Review

World-Class Trading Platform
Editor’s Rating: 91

Very Good

Average User Rating:

Very Good

Introduction

There are so many options when it comes to choosing a broker for trading CFDs but finding the right one can certainly be a burdensome task. With the correct broker, I know that I’ll be able to carry out a good trading strategy and maximize my profits, which is why I am very critical in choosing which company to sign-up with. I got interested in checking out IG because they have been in the business since 1974 and they are known to be the largest retail forex provider in the UK. Fortunately they have a demo account which I was able to use to fully experience the trading environment.

The live trading account required a $200 minimum deposit but I actually find this to be a non-issue since the platform has more than 10,000 financial markets to offer. The proprietary platform features advanced charting and one-click dealing in an easy and customized layout. And when it comes to support quality, their helpdesk is very accommodating in answering any query or resolving any issue. Reputation-wise, this company is not questionable since it has more than 100,000 clients and is regulated by the Financial Conduct Authority. Overall, IG earned my approval in this review. You may continue reading to get into the details.

Account Features

Demo Account: A risk-free environment

The demo account comes with £10,000 virtual funds and is designed for making practice trades without the need to risk any money. Much of the functionalities of the live platform features are still present on the demo so it’s a good way to explore the risk-free environment.

Bonuses: Reduced minimums

Unfortunately they don’t offer welcome bonuses and the only benefit new clients would receive is to trade at reduced minimums on the introduction programme for the first 6 weeks. It’s favorable for building confidence.

Trading Details

Platform: Proprietary and innovative

Trading is possible using the proprietary platform, the MT4 or the ProRealTime. The web-based platform doesn’t require downloading any software and features full market depth with DMA access for FX, stockbroking and equity CFDs. The ProRealTime has a charge of £300 per month although if you make 4 trades within that month then you will receive these funds back.

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Mobile Trading: Natively-designed apps

They have also developed apps for all major mobile and tablet devices. These apps are free to download and are secured with 256-bit SSL encryption. And just like the desktop and web-based versions, these native apps come with live prices and provide access to exclusive market data and analysis directly from the mobile device.

Minimum Lot Size: Minimal risks

The accepted minimum lot size with IG is 0.1. I usually prefer to trade with smaller lot sizes so this is definitely an advantage for me since I’ll be able to utilize my fund management strategies.

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Maximum Leverage: Advantageous ratio

The allowed maximum leverage is 1:700. This ratio is certainly a favorable value since it can increase my potential yields of up to 700 times.

Spreads: Highly competitive

The spreads with this broker are highly competitive especially for the major pairs. The EUR/USD pair for example has a minimum spread of just 0.8.

Tradable Instruments: Over 10,000 global markets

IG has one of the biggest ranges of instruments for forex and spread betting. It is possible to trade CFDs on over 10,000 global markets and more than 4400 international shares. This also includes indices, forex, commodities, binaries, options, IPOs, Bitcoin and other markets.

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Deposit and Withdrawal

Minimum Deposit: Only $200

The minimum initial deposit requirement is $200 without any obligation to trade. Make sure to use this for trading because there will be an inactivity fee if the account has been dormant for two years.

Deposit Methods: The common options

Account funding is possible via credit cards, debit cards, cheques, DBS/POSB or Standard Chartered Bill Payment, Internet Bank Transfer and Telegraphic Transfer.

Withdrawal Methods: Secured returns

By default, they transfer the payments back to the debit/credit card or via the banking method that was originally used to fund the account. They also accept bank transfers and cheques but this is at their discretion.

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Withdrawal Processing Time: Payments in less than a week

Withdrawals are normally processed within 3 business days while the maximum waiting time may take up to 10 business days although this is very rare.

Support

Channels: All modes possible

The support team can be reached through phone, email and live chat.

Availability: 24/5

The support is available 24 hours a day from Monday to Friday.

Supported Languages: Multilingual

Their platform currently supports a number of languages including English, Chinese, Bulgarian, Croatian, Danish, Finnish, French, German, Greek, Italian, Dutch, Norwegian, Polish, Spanish and many more.

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User’s Opinion

User Reviews score: 9.2 stars

This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.

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Editor’s Opinion

Platform Design: Easy to browse

The platform may be very simple but the advantage of it is that it is very easy to browse. Its uncomplicated design makes it very convenient to use.

Support: Accommodating and well-trained

Their help desk are very helpful and know how to handle any kind of customer problem or query. They answer very quickly and resolve issues as fast as possible.

Reputation: Well-capitalized multinational organization

The company has over 40 years of experience in the market and is also regulated by the Financial Conduct Authority (FCA). And since they are a large multinational organization, they are well-capitalized and stable.

Conclusion

Editor’s Rating: 91

IG should definitely be your broker of choice for spread betting and CFD trading as its platform has a lot of outstanding features like one-click dealing, unrestricted product list, customized layouts and advanced charting. You can have a great deal of confidence with this company because it is well-capitalized, regulated by the FCA and the client funds are provided with the utmost protection.

 

Is This The Right Broker For You?

Yes
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No
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17 comments

  1. Geronimo Milani

    IG are one of the safest brokers out there, they have been in the business a long time and just by trading on their platform and becoming a trader you can see the difference, they are in a class of their own. Excellent trading experience with them.

  2. Laurits S. Østergaard

    This broker is the king pin, they offer over 10,000 global markets and more than 4400 international shares, they are constantly upgrading and making improvements for the traders benefit.

  3. Egeisril Ugrair

    I was having a hard time with the troubleshooting of my trade, then I came across profession and very helpful support from IG. It want those people to realize they are doing great.

    • Marco Lucchesi

      I also would want to say thank you for the very lively and friendly support staff from IG because I was able to come up with wonderful trades that I thought I would’t able to go through.

    • Vanito Taggart

      I tried the demo account with IG and I must say that the real money platform and the demo platform are just the same. Easy to navigate and the trade execution is quick and effortless.

    • Dannie Council

      No, you don’t need to make a deposit initially, all you need to do is sign-up for a free demo account, and a £10,000 virtual funds will be added to your practice account.

        • Lazaro Ledesma

          I don’t think you will be able to loose that fund that fast, because you will be able to learn and earn forex trading through the practice account, but am not so sure if the broker will replenish you with new amount.

    • Latre Martin

      Actually, you can contact IG as immediate as possible because they have provided a toll-free number where you can call and a dedicated local landlines to most part of the globe. Email and live chat will are easy to access.

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