You will come across IG when you are looking at brokerage firms that allow their clients to trade in a number of financial markets. Founded in 1974, IG Group is currently one of the world’s top CFD providers. Their competitive fees and extensive product catalog has helped them earn this spot. Plus, their excellent reputation in the industry and years of experience only add to the appeal. This trading broker review will give you an insight into what to expect when you choose IG as your partner in the trading journey.
IG is regulated in the U.K. by the Financial Conduct Authority (FCA) and in Australia by the Australian Securities and Investment Commission (ASIC). Traders in the UK can enjoy default protection of GBP 50,000 via the Financial Services Compensation Scheme (FSCS). The broker is also known for maintaining segregated accounts for their clients, which reduces the potential of misuse of funds. Negative balance protection is available, along with guaranteed stop-losses, but a fee is applicable for the latter.
One of the most appealing things about IG is that they have made a rather comprehensive catalog of investment products, which includes shares, indices, currency pairs and commodities. They also provide options and futures on different instruments and you will certainly not have problems in finding something to trade. The broker has also added six cryptocurrencies to its offerings, which means it has a great variety for expanding your investment portfolio.
Desktop and Mobile Experience
A great variety of platforms is available on IG, which begin with the MetaTrader 4. It is industry standard and offers a range of trading tools that traders will find handy. There is also a web-based IG trading platform that gives traders access to basic risk management tools, which include stop-losses and price alerts. It also streams ProRealTime charts and Reuters news. Homegrown mobile apps for Android and iOS are also provided by IG. Some of the basic features they offer include price alerts, customized watchlists and technical charting. They also have a comprehensive indicator list and are more advanced that the MT4 mobile option.
Commissions and Fees
Fees, commission and spreads offered by IG are very competitive with the average spread for the EUR/USD pair at 0.75 pips. During off-market hours, the broker charges higher spreads on indices and shares and it can be expensive to place trades during these dead periods. There are some additional fees that you will find, which include commissions on share CFDs, inactivity fees, FX conversion and overnight fees. No withdrawal charges are applicable, which is a bonus. IG has chosen to be very transparent about their charges and you can easily find details on their website.
When you are signing up for an account with IG, you can choose between a retail and professional account. Retail clients are offered low margins and spreads, extended hours for trading US stocks and Saturday and Sunday trading for indices and cryptocurrencies. The margin requirements are even lower in professional accounts, but they don’t have negative balance protection given to retail clients. Moreover, to open a professional account, there are certain requirements that have to be fulfilled, which include having at least one year experience in the financial sector, meeting certain trade volume and capital requirements. Demo accounts are also offered to traders with GBP 10,000 in virtual funds that can be used for testing your trading strategies and getting in some practice.
You can find plenty of educational resources through the IG Academy on the broker’s website. You will find plenty of information about forex trading, spread betting, CFDs and more. The material is quite useful and the topics have been segmented for beginners, intermediate and advanced traders. There are also articles and courses that can be accessed via the IG Academy mobile app.
There is a toll free U.K. number provided for customer support that’s available for a specific time period. Live chat is offered 24 hours a day and can be used to speak to a company representative. There is a comprehensive FAQ section for finding answers to common questions. You can also use email or social media platforms for getting in touch.
Final Thoughts IG is an excellent choice for beginner traders as well as experienced traders because it offers thousands of instruments, competitive spreads and plenty of platforms. If you are interested to read more must visit Neuer Capital Review