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IG Markets Review

FX Author By Jeffrey Cammack Author Information Updated: June 11, 2020
Overall Rating
4.63 4.63 / 5
Min. DepositGBP 250
Max. Leverage30:1
Min. Spread0.6 pips
Regulators FCA,ASIC,FSCA
Regulator Origin FCA ASIC FSCA
Trading Desk Type

Summary

One of our highest rated brokers, IG Markets is a market-maker with only the single account for Forex trading, but spreads are tight and educational and analytical materials are excellent. A wide choice of platform (including MT4) is also available and customer service is world-class.

With regulation from the FCA and ASIC, and winner of the Broker of the Year 2018 (UK Forex Awards) and Best CFD Provider 2017 (Investment and Wealth Management Awards), IG Markets is an attractive choice for both beginner and experienced traders.

Reviews

Regulation 11111
Trading Conditions 11110.5
Trading Platforms 11110.5
Deposit & Withdrawal 11111
Education & Research 11111
Assets Available 11110.5
Customer Service 11110
Beginner Friendly Good
Bonuses
Our Review Process

Trading Conditions

Minimum DepositGBP 250
Base currenciesAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
Number of FX Pairs93
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD0.6
GBP / USD0.9
USD / JPY0.7

Company Details

Company nameIG Markets Ltd
Founded1974
Website www.ig.com
Type Market Maker
Regulators FCA,ASIC,FSCA
Office locations South Africa, United Kingdom

Deposit & Withdrawal Methods

Supported Platforms for IG Markets

IG-markets-intro-2

Is IG Markets Safe?

One of the earliest online retail brokers, IG Markets has been regulated by the UK’s FCA (license 195355) since 2001, Australia’s ASIC (license 220440) since 2002 and the South African FSCA (FSP 41393) since 2010.

Despite the company’s relative seniority, industry recognition continues to stack up around IG Markets. Winning awards like Best Overall Personal Wealth Provider 2017 (Online Personal Wealth Awards) and Top Online Broker 2015 (Business Day Investor’s Monthly Stockbroker Awards), industry onlookers applaud the way IG Markets works with clients and operates its business.

Along with strong regulation comes strict internal processes. At IG Markets all funds are kept in separate trust accounts where the funds can not be used to settle debts to other traders or used to finance the operations of the business. Per law, an audit of all client funds is performed daily to ensure the broker has the necessary liquidity.

Because of the active internal client protection policies and processes, strong traditional regulation, and acclaim from the industry, we consider IG Markets a safe broker to trade with.

IG Markets Trading Conditions

A single account type is offered for Forex traders, though other accounts are available for those who want to bet on the spread. A corporate account option is also available if you wish to trade as a corporate entity rather than as an individual.

Account Types

An IG Markets account has both live and demo trading environments. The main IG Markets trading accounts are as follows:

CFD Trading Account

This is a flexible way to trade CFD instruments across a variety of markets, including Forex currency pairs, indices, and commodities. With this type of account, you get reduced commissions for the first 2-weeks of trading.

Spread Betting Account

There is no minimum deposit to open a spread betting trading account. This account type is the easiest way to take advantage of both rising and falling markets. The trading costs are quite low you only pay 0.6 spread on EUR/USD; 1 point on FTSE100, and only 0.1% for individual shares.

IG markets accounts

Additional Accounts

IG has Share dealing, ISA, SIPP and IG Investments Smart Portfolios accounts. These are non-leverage account types that let you trade stocks and shares. Most accounts are also available as swap-free Islamic accounts.

Spreads and Commissions

Trading platforms at IG Markets support 68 currency pairs with a minimum spread of 0.6 pips. The CFD trading account offers commission-free trading on FX pairs. 

IG Markets spreads

Deposit & Withdrawal Fees

Deposits by bank wire are free of charge and take up to three business days to reflect on the trading balance. Debit cards deposits are instant free for Visa and MasterCard. IG Markets charges for Credit card deposits with a fee of 1% charge for Visa and 0.5% charge for MasterCard.

IG Markets for Beginners

Awarded Best Forex Educators 2018 (UK Forex Awards), IG Markets has plenty of current and accessible educational material for beginner traders. Reports and daily analysis are emailed to anyone who signs up, and 24-hour support is available in addition to the peer community who can offer guidance to get you going.

Educational Material

Online trading courses are accessible at the IG Academy which covers topics for the beginner, intermediate and advanced trader. Live, structured classroom-style lessons are run daily, and offer the opportunity for traders to get personal feedback and interact with market analysts.

IG-markets-Education

Analysis Material

News and trade ideas, trading strategy education, as well as analysis of upcoming financial events, is published frequently at IG Markets. The analysis is written by the IG Markets Global team of analysts who have professional backgrounds in trading at some of the major investment banks.

IG Markets sends free Morning Call and The Week Ahead reports daily and weekly respectively. Each promises to deliver an analysis of major economic events and corporate news before the opening of the UK equity markets.

Customer Support

Clients support is available by phone, email, twitter and live chat, 24hrs a day from 8 am Saturday to 10 pm Friday (GMT). Peer support offers assistance from other traders and IG staff in a forum discussion, which is an ideal additional resource for beginner traders who have questions about the platform, basic analysis and the sharing of trading ideas.

Support assistance is offered in English, French, German, Spanish, Italian, Dutch, Swedish, Chinese, Japanese, Danish and Arabic.

IG markets community

 

Trading Platforms

IG Markets introduces clients to a suite of trading platforms for beginner and advanced traders, and have won IG Markets the award for Best Multi-Platform Provider from 2016-2018 at the ADVFN International Financial Awards. Other awards for their platforms have included Best Trading Platform 2017 (Online Personal Wealth Awards), Best Online Trading Platform 2015 (Shares Awards) and Best Forex Trading Tools 2018 (UK Forex Awards). This credit from the industry has been consistent, as they IG Markets platform choice continues to improve.

Web Platform

The web platform that runs in a browser and includes research tools, monitoring tools, order management and charts. Easy access to functionality to open, close and edit individual and aggregate positions, chart customisation and risk management tools, as well as access to data and news feeds, to help spot trading opportunities.

All markets are tradeable, and no software download is required, and it is targeted at all levels of trader.

IG platform

MetaTrader 4

MetaTrader4 is intended for Forex specialists and is an ideal platform for trading CFDs and spread betting. Advanced MT4 charts, chart trading features and market orders including limits, stops, stop-loss, and take profit are all available and free of charge.

Unique advantages of the MT4 platform include the automated trading functionality that is achieved through the use of EAs and the 18 customer apps created by IG and the Autochartist plugin.

L2 Dealer

L2 Dealer, a specialist platform originally designed for use by IG Market’s own traders, offers direct market access free of charge as long as clients maintain a balance of 1000 USD.

The primary advantage of the L2 Dealer software is trading Forex at the market price, with liquidity from major providers. This improved liquidity from dark pools, separate brokers and market makers, uses smart order-routing, which seeks out and executes trades at the best price from various trading venues automatically.

Primed with features, the L2 Dealer platform allows CFDs and shares trading with the use of monitoring tools such as watchlists, live Reuters news feed, price alerts, and professional order control. This leading professional-grade technology offers high-speed execution, and no requotes or dealer-referred tickets.

ProRealTime

Intended for technical chart traders, ProRealTime is a downloadable advanced charting package with advanced analytical features and trade monitoring tools. Functionality to trade from charts, as well as automated trading strategies, come standard free-of-charge as long as clients trade at least four times per calendar month. If this is the case, a fee of 30 USD will be charged for the use of the tool.

Mobile Trading Apps

IG Markets apps support Android and IOS mobile phones and tablets. Winner of the Best Finance App 2016 (ADVFN International Financial Awards) and Best Trading App (Investment and Wealth Management Awards 2016)

Full trading functionality, advanced dealing options and trading alerts make the IG Markets trading apps a good place for the research, preparation, monitoring, control and opening/closing of trades for those who wish to take advantage of time away from their desk.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the IG Markets offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

IG Markets Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. IG Markets would like you to know that: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Overview

IG Markets is a long-established and reliable broker. Regulated by the FCA and ASIC, and with frequent industry recognition, IG Markets stands out amongst the larger brokers for its tight spreads and excellent educational resources.

With a wide variety of trading platforms for beginners to advanced level traders along with a catalogue of education, analysis, and webinars, IG Markets should be considered by any trader looking for the additional embellishments a market maker offers.

Alert Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 11110.5 4.63 / 5 1110.50 3.89 / 5 1110.50 3.33 / 5
Minimum DepositGBP 250GBP 100GBP 200
Regulation
FCA FCA
ASIC ASIC
FSCA FSCA
FCA FCA
CySEC CySEC
ASIC ASIC
MAS MAS
CySEC CySEC
FCA FCA
ASIC ASIC
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Equities, Bonds, Interest Rates, Digital 100s, IPOsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Vanilla Options, ETFsCommodities, Cryptocurrencies, Forex, Indicies, Equities
Forex Pairs9370+47
Crypto Pairs8916
Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
  • Well regulated
  • Wide range of assets
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • High minimum deposit
  • Limited education
  • Limited account options
  • Limited education
  • Wide spreads
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11110.5 4.5 / 5 11100 3 / 5 11000 2 / 5
Trading Platforms 11110.5 4.5 / 5 11110 4 / 5 11110 4 / 5
Deposit & Withdrawal 11111 5 / 5 11110.5 4.5 / 5 11000 2 / 5
Education & Research 11111 5 / 5 10.5000 1.5 / 5 10.5000 1.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
Customer Service 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
% Lose with this broker 76% of retail investor accounts lose money when trading CFDs with this provider 80.5% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:130:1
Spread0.6 pips0.7 pips2.0 pips
Hedging Yes No Yes
Scalping Yes No No
Account Types
  • Spread Betting (Standard)
  • Standard (Standard)
  • Standard (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 Plus500 etoro
Funding Methods Bank Transfer, Visa, Mastercard, Paypal Bank Transfer, Visa, Mastercard, Skrill, Paypal Visa, Mastercard, Neteller, Unionpay, Skrill, Paypal
Trading Commission Fees Included in Spread Fees Included in Spread Fees Included in Spread
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Overall Rating 11110.5 4.63 / 5 1110.50 3.89 / 5 1110.50 3.33 / 5
Minimum DepositGBP 250GBP 100GBP 200
Regulation
FCA FCA
ASIC ASIC
FSCA FSCA
FCA FCA
CySEC CySEC
ASIC ASIC
MAS MAS
CySEC CySEC
FCA FCA
ASIC ASIC
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Equities, Bonds, Interest Rates, Digital 100s, IPOsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Vanilla Options, ETFsCommodities, Cryptocurrencies, Forex, Indicies, Equities
Forex Pairs9370+47
Crypto Pairs8916
Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
  • Well regulated
  • Wide range of assets
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • High minimum deposit
  • Limited education
  • Limited account options
  • Limited education
  • Wide spreads
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 11110.5 4.5 / 5 11100 3 / 5 11000 2 / 5
Trading Platforms 11110.5 4.5 / 5 11110 4 / 5 11110 4 / 5
Deposit & Withdrawal 11111 5 / 5 11110.5 4.5 / 5 11000 2 / 5
Education & Research 11111 5 / 5 10.5000 1.5 / 5 10.5000 1.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
Customer Service 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
% Lose with this broker 76% of retail investor accounts lose money when trading CFDs with this provider 80.5% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:130:130:1
Spread0.6 pips0.7 pips2.0 pips
Hedging Yes No Yes
Scalping Yes No No
Account Types
  • Spread Betting (Standard)
  • Standard (Standard)
  • Standard (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4 Plus500 etoro
Funding Methods Bank Transfer, Visa, Mastercard, Paypal Bank Transfer, Visa, Mastercard, Skrill, Paypal Visa, Mastercard, Neteller, Unionpay, Skrill, Paypal
Trading Commission Fees Included in Spread Fees Included in Spread Fees Included in Spread
Visit IG Markets

Alert Most retail CFD accounts lose money. Your capital is at risk.

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