IG Markets

IG, formerly IG Markets, is a renowned broker that lets you invest in a wide variety of assets, including forex, stocks, commodities, ETFs, and indices. It’s considered one of the most innovative companies in the industry, with its award-winning trading products and trading platforms.

This means that IG is also a highly versatile broker that offers a comprehensive trading package, with excellent research and trading tools, a wide range of tradable instruments, and extensive educational materials. IG’s overall trading experience seems quite impressive. But is IG Markets the right broker for you? Read on to find out.

Company Overview

IG Markets, established in 1974, is a well-known and globally recognized CFD (Contracts for Difference) broker. Headquartered in London, IG has played a pioneering role in the industry, offering a range of financial instruments for online trading. Regulated by reputable authorities such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC), IG Markets has built a reputation for transparency and regulatory compliance.

IG is a publicly traded company with a market capitalization in excess of £2 Billion. The company also recently acquired TastyTrade while making its entry into the United States market, which expanded its asset classes into options, futures, and other instruments.

Trading Platforms & Tools on IG

IG Markets provides a robust and versatile trading platform. The flagship platform is the IG Trading platform, which is accessible via web browsers and mobile devices. It offers an intuitive interface, advanced charting tools, and a comprehensive suite of technical indicators. Additionally, IG supports MetaTrader 4 (MT4), a widely used third-party platform preferred by many experienced traders.

Mobile Apps: IG has its own flagship mobile app called IG Forex or IG Trading. They also offer an IG Access for account security, IG Academy app for educational material. The IG Trading app comes in an intuitive design and a whole list of features including sentiment readings, alerts, and advanced charting. It also provides news headlines and signals from PIA First and Autochartist.

Desktop Apps: Alongside MT4, IG offers the ProRealTime charting platform and the L2 Dealer DMA platform. There’s an apparent endless variety of trading and research tools, which include integrated risk management modules. Do note that the L2 Dealer requires a minimum deposit of $1,000.

Trading Signals: If you prefer using forex signals to trade, the Autochartist and PIA First will come in handy, as they are directly integrated into the IG web platform. You can copy trading signals directly into a trade with little hassle.

IG Account Types

IG Markets offers a variety of account types to cater to different trader preferences. These include:

Spread Betting Account: Suitable for UK residents for tax advantages.
CFD Account: Allows trading on a wide range of financial instruments.
Share Dealing Account: Specifically for trading shares.

IG does not impose a minimum deposit requirement, making it accessible to traders of varying capital levels.

Spreads, Commissions, and Fees

IG is not exactly a discount broker, though it’s not the most expensive either. IG Markets is known for competitive spreads across various asset classes. While it doesn’t charge traditional commissions on most trades, the cost is often included in the spread. Traders should be aware of potential overnight funding fees and other associated costs, which can vary based on the instrument and market conditions.

The spread charged per trade varies from asset to asset and the underlying market. The spread for forex pairs starts at about 0.6 while that for indices starts at 1 point.

Range of Tradable Assets on IG

IG Markets boasts an extensive range of tradable assets, including:

Forex Pairs: Major, minor, and exotic currency pairs.
Indices: A diverse selection of global indices.
Shares: Access to a vast array of stocks from international markets.
Cryptocurrencies: Including Bitcoin, Ethereum, and other digital assets.
Commodities: Precious metals, energies, and agricultural products.

This wide range allows traders to diversify their portfolios across different markets.

Payment Methods

IG supports several payment methods, including debit/credit cards, bank transfer, and electronic wallets. You can deposit and withdrawal funds through any of these methods:

• PayPal
• Bank transfers
• Debit/credit cards
• Wise

Making withdrawals on IGis just as easy as making a deposit. However, based on the currency denomination for your account, there might be certain minimum thresholds for withdrawing funds through debit/credit cards. The daily withdrawal limit for these cards is $25,000 a day, and the transaction may take 2 to 5 business days to complete.

There are no withdrawal limits for bank transfers with IG. The transactions are typically processed within 1 to 3 business days.

Regulation and Security

IG Markets places a strong emphasis on regulatory compliance and security. IG is regulated and authorized by the following regulators:

• Australian Securities & Investment Commission (ASIC)
• Commodity Futures Trading Commission (CFTC)
• Federal Financial Supervisory Authority (BaFin)
• Financial Conduct Authority (FCA)
• Financial Markets Authority (FMA)
• Japanese Financial Services Authority (JFSA)
• Monetary Authority of Singapore (MAS)
• Swiss Financial Market Supervisory Authority (FINMA)

The company is also regulated and authorized in South Africa, New Zealand, the UAE, and the United States.

Regulated by top-tier authorities, client funds are held in segregated accounts, ensuring separation from the company’s operational funds. The platform employs encryption technology to secure sensitive data, maintaining a safe trading environment.

Educational Resources and Analysis Tools

IG Markets provides an array of educational resources, including webinars, tutorials, and articles. The platform’s research tools offer market analysis, economic calendars, and sentiment indicators, aiding traders in making informed decisions. The educational resources are valuable for both novice and experienced traders.

Research tools

The broker offers news streaming from Reuters, in-house IGTV broadcast, trading signals, a weekly forecast, and an economic calendar, not to mention multiple blog updates with in-depth market analysis. Some of their advanced tools include a customizable screener for financial assets, including forex and stocks. The integration of DailyFX content on IG markets virtually multiplies the amount of research material on IG.

Market News

With the PIA First and Autochartist integration, you can view trade signals generated by automatic technical analysis and pattern recognition. You can copy the trading ideas with one click. The broker also provides daily posts and videos about the market and helpful insights.

IG Academy

This features 8 courses organized by level of experience. Each of the courses contain a dozen or so chapters, with video content, lesson summaries, quizzes and more to make the learning more interactive. You also get a quiz at the end of the course and you will be awarded a score that reflects how many questions you answered correctly.

Customer Support

IG’s customer support is known for its professionalism and responsiveness. Support is available 24/5 through various channels, including phone, live chat, and email. The platform also offers an extensive online help center, contributing to a positive user experience.

How to Open an Account on IG?

Opening an account on IG is rather straightforward and relatively easy. You just need to complete the following basic steps:

1. Provide basic information

Put aside about 10 or so minutes to fill out the registration forms and check the boxes that are applicable to you. You’ll also need to provide some personal details as required by Anti-Money Laundering (AML) and Know-Your-Customer regulations.

2. Give an assessment of your trading knowledge

Certain regulators require brokers to establish your degree of trading knowledge and level of experience. You will need to answer a few questions or check a few boxes to prove you have some basic trading knowledge. Once you pass the evaluation, you may need to sign additional agreements to acknowledge that a lack of experience could result in financial loss.

3. Account verification

Once you’ve submitted your details, you’ll be able to access IG’s demo trading platform as you wait for the account to be approved. Once approved, you can fund your live account using your preferred deposit method.

What is IG’s Minimum deposit?

The minimum deposit requirement will vary from $250 to as much as $2,000 based on where you register your account from. However, you only need to meet this limit the first time. The next deposits can be as much as you want depending on your deposit method.

Final Thoughts

In conclusion, IG Markets stands as a reputable and well-established CFD broker, offering a comprehensive suite of trading services. Its commitment to regulatory compliance, diverse range of assets, and user-friendly platforms make it an appealing choice for traders at all experience levels. The platform’s emphasis on education and research tools further enhances the overall trading experience.

As with any trading platform, traders are encouraged to review IG Markets’ offerings in light of their specific needs and preferences. Staying informed about market changes and updates is crucial in the ever-evolving landscape of online trading.