IG.com Review 2024

Last updated Feb 26, 2024
Логотип IG
4.1/5
№25 in the brokers' list68-72% of retail investors lose money when trading CFDs with this broker
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

Are you a beginner Forex trader looking for the perfect broker? Then you should check out IG.com - one of the most prestigious brokers in the world, recommended for both experienced and novice traders.

With competitive pricing, powerful trading platforms, and a global presence in 17 countries, it's no wonder why IG is so favored among those who operate in the forex markets.

This review will look in-depth at what makes IG an excellent choice for achieving your Forex market trading goals - from account types, spreads, and leverage to customer support functionality!

IG Broker Overview

Foundation Year1973
Official Websitehttps://www.ig.com
Regulated in CountriesUnited Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab EmiratesMore Details
Minimum Deposit
  • 1 USD
  • 1000 EUR
  • 1000 GBP
  • 2000 AUD
  • 2000 NZD
Spreadfrom 0.165 points
Max Leverage1:200
Trading Assets
  • Forex
  • Stocks
  • Indices
  • ETF
  • Cryptocurrency
  • Bonds
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
Trading Platforms
  • MetaTrader 4
  • IG Trading Platform
  • L2 Dealer
Email Support
  • sales.en@ig.com
  • newaccounts.uk@ig.com
  • info.de@ig.com
  • aperturaconto@ig.com
  • info.por@ig.com
  • info.es@ig.com
  • info.nl@ig.com
  • info.fr@ig.com
  • info.no@ig.com
  • info.se@ig.com
  • info.at@ig.com
  • marketingpartnership.us@ig.com
  • newaccounts.au@ig.com
  • sales.jp@ig.com
  • accountopening@ig.com.sg
  • helpdesk.za@ig.com
  • sales.ae@ig.com
Hotline Phones
Social Media

Forex broker IG is part of the IG Group holding, which includes several financial companies serving individual clients and brokers. In the 90s, the corporation began to develop very actively, and later, it was listed on the London Stock Exchange (LSE).

IG Review Summary

When evaluating IG, we used our unique broker evaluation methodology, which includes analysis of such vital aspects as regulation, commissions, markets and products offered, trading platforms, educational resources, and the quality of customer support. This methodology allows us to evaluate brokers based on accurate data and provides a comprehensive view of each broker's offers.

Thank you for reading this part of the review. We encourage you to continue reading to learn more about the advantages and disadvantages of IG, as well as how the broker can meet your trading requirements.

Reliability and Regulation

Rating:5/5

IG broker, operating under the jurisdiction of multiple international regulators, demonstrates high reliability and regulation. The company complies with the laws and regulations of several countries, which usually indicates a high level of transparency and reliability.

Legal EntityRegulator

Regulators typically require strict adherence to capitalization standards and conduct audits and monitoring of broker operations. Moreover, many of these regulators protect client funds through compensation schemes in the event of unforeseen circumstances.

Account Opening

Rating:4/5

The process of opening an account with IG is simple and relatively fast. It includes the standard registration steps you would expect from any severe broker, including providing basic personal information and verifying your identity.

However, the need to provide a wide range of personal and financial data may be perceived by some users as less convenient, although it is standard practice for most regulated brokers.

The time to complete the registration form also seems reasonable, taking about 5-10 minutes, and verification typically only takes a couple of days.

Account Opening Procedure

Becoming a client follows a standard procedure. The IG website describes the process of opening a trading account:

  1. Fill out a simple registration form. IG will ask about your knowledge of CFD trading to provide the best experience.
  2. Undergoing verification. Usually, verifying your identity takes a couple of days.
  3. Funding your account and starting CFD trading.

Registration

For account registration, IG will request the following information:

  • first and last name;
  • country of residence;
  • email address;
  • username;
  • password;
  • date and place of birth;
  • phone number;
  • ID card number;
  • nationality;
  • full residential address;
  • your financial situation (income, assets);
  • experience trading financial instruments.
IG.com registration form
IG.com registration form

It takes about 5-10 minutes to fill in all the data. Ultimately, you must familiarize yourself with and agree to the declaration for opening a CFD account.

Based on the information provided, IG broker decides whether to open a trading account in your name. The company may also deny you the provision of services.

Minimum Deposit

With IG broker, you can open a trading account without making a minimum deposit. This means that you can start trading regardless of the size of your investment capital. This is especially useful for new traders who want to start trading but are not ready to invest large sums of money.

Account Types

Rating:2.5/5

While the accounts offered by IG come with a decent set of services and are aimed at different categories of traders, their selection is limited.

There are no specific accounts, such as Islamic or investment accounts (PAMM accounts, copy trading), and there is no option to choose an account with a fixed spread or a cent account, which limits opportunities for certain groups of traders.

Nevertheless, the trading accounts offered can attract traders looking for DMA access and premium services.

Trading Accounts

There are 2 accounts available for trading on IG:

CFDDMA
Account CurrencyUSD, EUR, GBP, CHF, AUD, NZD, JPY, NOK, SEK, SGD, HKDUSD, EUR, GBP, CHF, AUD, NZD, JPY
Minimum Deposit1 $1 000 $1 000
Trading PlatformsMetaTrader 4IG Trading PlatformL2 Dealer
Spreadfloatingfrom 0.6 pipsfor EURUSD~ 1.1 pipsfloatingfrom 0.165 pipsfor EURUSD~ 0.165 pips
Commission per Tradeper $1M turnover~ 60 $
Trading AssetsForexStocksIndicesETFCryptocurrencyBondsPrecious MetalsEnergy CarriersAgricultural CommoditiesForexStocks
Opened Positions
Leverage1:1-1:200
Margin Call / Stop Out100% / 50%
Order ExecutionMMDMA
Demo Account
Islamic Account
RegisterRegister

DMA account is only open for professional traders. To open such an account, you need to prove your qualifications to the broker.

Order execution uses the DMA (Direct Market Access) method. IG does not add any additional spreads, charging a commission on each trade you make.

Demo Account

IG broker offers the opportunity to use a demo account for free, on which you can develop your CFD trading skills without the risk of losing real funds. With a demo account, you receive virtual funds of $20,000 to practice and test various trading strategies.

Using the demo account gives you access to exclusive educational content at IG Academy, allowing you to study trading at a deeper level.

Premium Service

IG broker offers a unique premium service for its high-value clients, understanding their needs and striving to provide the most comfortable trading conditions. Becoming an IG premium client gives you numerous advantages and privileges that ensure the best trading experience.

The advantages of premium service include assigning a personal manager who will support your trading needs. You will also gain access to qualified market analysts and preferential rates. You will benefit from higher discounts, exclusive market analysis reviews, and networking opportunities.

Additionally, you can attend exclusive events and participate in advanced educational seminars to meet like-minded individuals. Your advantage includes priority access to new IG products and platforms and exclusive promotions.

This service is available by special invitation only. However, you can contact support to discuss joining the premium club: premium.en@ig.com.

Commissions

Rating:3/5

IG broker commissions are at an average level.

The broker has low spreads and swaps. However, the commission per trade on a DMA account is above the market average. There are additional fees and commissions, a charge for guaranteed stops, other services, and an inactivity fee.

Trading Commissions

The primary source of IG's revenue comes from spreads or per-trade commissions. Your costs for any trade are reflected in the bid and ask prices - so you will always buy slightly above the market price and sell slightly below.

Spreads and Swaps

IG's spreads are below the market average, but swaps are above average.

Below are the spreads for major currency pairs for a CFD account on IG.com.

AssetAverage spreadSwap longSwap short
AUDUSD1.3 pips-4.00 pips0.20 pips
EURUSD1.1 pips-7.00 pips1.20 pips
GBPUSD1.6 pips-3.90 pips-2.70 pips
NZDUSD2.5 pips-2.10 pips-1.70 pips
USDCAD2.1 pips0.00 pips-9.00 pips
USDCHF2.2 pips6.60 pips-11.40 pips
USDJPY1.2 pips18.70 pips-26.10 pips

Per-Trade Commission

The main expense for traders operating on a DMA account is the per-trade commission. On a DMA account, it is $60 per $1 million turnover. This commission can be considered high compared to other Forex brokers.

Below is the commission per lot for the EURUSD pair at different Forex brokers:

BrokerIC MarketsRaw SpreadPepperstoneRazorIGDMAVantageRawRoboforexECN
Commission per lot$3.5$3.5$6.48$3$2.16

Other Fees

Other potential fees at IG may include:

  1. Guaranteed Stop. When a guaranteed stop is attached to your position, IG charges a small fee called a premium in the event of its activation. For CFDs on stocks, this is 0.3% of the transaction value.
  2. Additional services. The broker charges a fee for other services you may use to support your trading. For example, direct market access (DMA), advanced charting packages, real-time data streams, and more.
  3. Inactivity fee. If you do not trade for 2 years, a commission of $18 will be charged to your account each month.
  4. Currency conversion. A commission for conversion is charged at 0.5% for CFD contracts traded in a currency different from the base currency of your account.

Rebates

IG offers trading discounts and cashback or rebates to active traders.

To qualify for a discount, you must achieve a minimum monthly trading volume in one asset class during a calendar month. If your trading volume meets the discount threshold in one asset class, you will also be eligible for a discount in another asset class.

Below is a table of rebates for the Forex market.

LevelMonthly trading volumeRebate
1$25 million.$5
2$200 million.$7
3$300 million.$10

Your monthly rebate equals the product of your trading volume and the rebate corresponding to your level. For example, if your monthly trading volume were $210 million, your monthly rebate would be $210 x $7 = $1470.

Deposit and Withdrawal

Rating:3.7/5

IG provides an average level of service for account funding and withdrawal. Deposit and withdrawal methods are limited, with no cryptocurrencies and e-wallets (except for PayPal). On the other hand, the broker does not charge any fees for deposits and withdrawals, which is a significant advantage. However, the withdrawal processing time can take 1 to 5 business days, which could be optimized.

How to Deposit Funds

To deposit funds, log into your IG personal account and click "Add funds" next to the account you wish to deposit into.

You can deposit funds using a credit card, debit card, PayPal, or bank transfer.

Payment SystemCurrenciesDeposit FeeOperation Limit
PayPalPayPal
USDEURGBP
from 50 USD
Bank TransferBank Transfer
USDEURGBP
Credit and Debit CardsCredit and Debit Cards
USDEURGBP
from 50 to 50000 USD

IG does not charge any fees for depositing. However, your bank may charge a fee.

How to Withdraw Funds

The same methods are used for withdrawals:

Payment SystemCurrenciesWithdrawal FeeOperation Limit
PayPalPayPal
USDEURGBP
0%
from 150 to 7000 USDfrom 150 to 7000 EURfrom 100 to 5500 GBP
Bank TransferBank Transfer
USDEURGBP
0%
from 150 USDfrom 150 EURfrom 100 GBP
Credit and Debit CardsCredit and Debit Cards
USDEURGBP
0%
from 150 to 25000 USDfrom 150 to 25000 EURfrom 100 to 20000 GBP

Depending on the payment method, withdrawal takes 1 to 5 business days. No broker fee is charged.

Markets and Products

Rating:5/5

IG offers a large number of trading instruments. These include the following CFDs:

  • 68 currency pairs;
  • 100+ stock indices;
  • 10,500+ stocks from the US, UK, Europe, and Hong Kong;
  • 47 commodities;
  • 6 cryptocurrencies.

Margin Requirements

Here are the trading conditions for different markets and products offered by IG:

MarketNumber of ProductsMinimum SpreadMaximum Leverage
Forex680.61:200
Indices100+0.11:200
Stock CFDs10500+0.11:20
Exchange-Traded Commodities470.31:143
Cryptocurrency CFDs611:10

Thematic Baskets

A thematic basket is an innovative approach offered by the broker IG, allowing traders to respond to changes in the world and invest in the future. This approach includes trading in thematic stock baskets grouped around a particular theme, such as electric vehicles, robotics, and artificial intelligence.

Options

IG broker provides options that allow traders to use market volatility to their advantage.

Options Markets

  • Forex
  • Stocks
  • Indices
  • Exchange-traded commodities

Option Expiry Terms

  • Daily
  • Weekly
  • Monthly

Trading Platforms

Rating:5/5

IG offers an excellent selection of trading platforms and tools, with functionality that satisfies traders of any experience level.

For instance, trading on IG is available through:

  • MetaTrader 4;
  • IG Trading Platform;
  • L2 Dealer (for DMA accounts).

IG Trading Platform

Although IG offers the popular MetaTrader 4 platform and the L2 Dealer platform for DMA, our testing focused on the flagship web platform, IG Trading Platform.

IG Trading Platform
IG Trading Platform

The IG Trading Platform is equipped with a wide array of features. For example, charts can be viewed from virtually any perspective, displaying market prices and streaming bid/ask quotes.

There seems to be endless research and trading tools, including integrated risk management modules. One minor caveat is that you'll need to spend a few minutes setting up a template, as the default view is primarily blank - although you can save several custom templates.

Trading on the IG platform
Trading on the IG platform

IG's standard charts have advanced features, adding up to 4 alerts to any supported indicators.

In addition to five types of charts, there is also a tick chart - a helpful feature not offered by all Forex brokers. We also liked that zooming in and out and resizing images on different time frames is fast and smooth. Finally, trading from the chart using the built-in trading terminal shows the risk/reward ratio and allows for high-precision dragging of stops/limits.

Analytics

Rating:5/5

IG provides a vast selection of high-quality market research from in-house and third-party providers —the IG platform's extensive content - including its broadcasting on IGTV.

IG's research tools include:

  • streaming news and TV from Reuters,
  • trading signals,
  • in-house broadcasting through IGTV,
  • economic calendar,
  • weekly forecast (The Week Ahead series) in video and article formats,
  • a multitude of daily blog updates with market analysis.
Streaming news and analytics on the IG platform
Streaming news and analytics on the IG platform

Advanced tools include a customizable screener for various asset classes, including CFDs on global stocks and Forex. The innovative IG 'Recommended News' section personalizes your content, selecting headlines according to the characteristics of your account. Additional content from DailyFX almost doubles the impressive volume of IG's research.

Newsfeed on the IG platform
Newsfeed on the IG platform

IG integrates Autochartist and PIA First into its platform, allowing traders to view trading signals generated by automatic pattern recognition and technical analysis. These trading ideas can be conveniently copied with a single click, pre-filling the terminal window. IG also provides many daily articles and videos published throughout the trading week.

Signals on the IG platform
Signals on the IG platform

IG supports DailyFX, a blog-style news site that provides IG clients with news content and various research tools. IG Community, a recently launched social network reminiscent of an advanced forum, brings together over 60,000 users. Content is created based on crowdsourcing, and IG manually selects the best research articles. A timeline (like in a social network) shows user activities, such as new entries, following, and comments on topics.

IG Community
IG Community

Education

Rating:5/5

IG is a leader in educational content, offering various materials in various formats, including videos, articles, weekly webinars, and guides from DailyFX. The IG Academy features academic courses organized by experience levels, with progress tracking and quizzes. IG also provides a dedicated mobile app for learning, and its solid social community, with over 64,000 members, offers a collection of valuable articles.

IG Academy
IG Academy

The IG Academy includes eight courses organized by experience level, each containing about a dozen chapters. These interactive courses include video materials, lesson summaries, and quizzes. There is also a final test where you receive an overall score reflecting the number of questions answered correctly.

Educational courses from IG
Educational courses from IG

In addition to many archived materials and various playlists on its YouTube channels, IG broadcasts on IGTV. IGTV features weekly webinars and podcasts. IG staff also cover educational topics live, such as a masterclass on technical analysis. Even archived webinars are organized by experience level, allowing you to find what you need quickly.

Educational webinars from IG
Educational webinars from IG

As noted in the section above, the IG Community produces content the company curates. Some of this content takes the form of educational articles, while some have a more narrative structure, where traders share their personal views and past trading successes and failures.

As a trading education leader, IG has little room for improvement in its already well-thought-out educational offering. Integrating content from the IG Academy mobile app into the main IG Trading app could be one way to bring all educational materials together in one place, making them more organized and accessible.

Customer Support

Rating:5/5

IG technical support operates 24/7 through several different communication channels.

We found the support responses to be professional and sufficiently quick.

You can contact IG brokers via:

  • email sales.en@ig.com;
  • online chat;
  • phone +44 (20) 7633 5430.

Customer support is available 24/7, except from 22:00 on Friday to 8:00 on Saturday.

IG Pros and Cons

Advantages

  1. Regulation. IG is licensed by highly trusted regulators, including the FCA in the UK and ASIC in Australia, providing a high degree of client protection.
  2. Tight spreads. IG offers tight spreads across various instruments, making trading more cost-effective.
  3. Markets and products. The broker offers trading on various markets, including stocks, currencies, indices, commodities, and more.
  4. Trading platforms. IG provides quality and intuitive trading platforms available on various devices.
  5. Analytics. IG offers an extensive set of analytical tools and provides a large amount of its content to assist in making trading decisions.
  6. Education. The broker offers extensive educational resources suitable for beginners and more experienced traders.

Disadvantages

  1. Limited choice of trading accounts. The variety of accounts at IG is quite limited, which may not meet the needs of all types of traders.
  2. High commission on DMA account trades. The broker charges a relatively high commission for trading on a DMA account.
  3. Inactivity fee. IG charges an inactivity fee, which can increase the overall costs for traders not actively trading.
  4. Limited choice of payment methods. IG offers a relatively small selection of deposit and withdrawal methods, which may be inconvenient for some users.

Conclusion

IG.com is a reliable and user-friendly Forex and CFD broker offering an excellent experience for novice and experienced traders. Customer service is outstanding, and the trading platforms are top-notch. A wide range of trading instruments and analytical and educational materials are also available.

If you are looking for a professional Forex broker, try IG.com.

Visit IG68-72% of retail investors lose money when trading CFDs with this broker
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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