In this IG Markets review, we will take an in-depth look at IG Markets to help you determine if it’s the right broker for your trading needs.
In this review, we’ll cover everything you need to know about IG Markets including its regulatory compliance, pros and cons, product offering, markets, trading platforms, account types, payment methods, education, and customer support service.
Table of Contents
IG Markets Broker Overview
IG Markets is a leading UK-based financial services provider established in 1974 by IG Group plc; a publicly-traded company listed on the London Stock Exchange, and a constituent of the FTSE 250 Index. IG is also one of the world’s biggest online trading providers, with more than 300,000 clients in 170+ countries.
IG Markets offers leveraged trading products, including CFDs and spread betting, turbo warrants, barriers, and vanilla options, across a wide range of over 18,000+ financial instruments, including currency pairs, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs.
For those looking to invest, IG offers a range of investment options including shares dealing, IG Smart Portfolio, share dealing ISA, Smart Portfolio ISA, SIPP, and Smart Portfolio SIPP. These investment products come with access to over 13,000+ shares, 2000+ ETFs, and a number of investment trusts.
Suitable For – Beginners, professionals, advanced traders, active traders, investors, high-volume traders, institutions, and algorithmic traders.
IG Markets Key Features
Here is a breakdown of the IG Markets Broker features:
|IG Markets Features||Specifications|
|Head Office||London, United Kingdom.|
|Regulations||CFTC, FCA, ASIC, BaFin, FINMA, FMA, MAS, JFSA, FSCA, DFSA, and BMA.|
|Trading Products||CFDs, Spreadbetting, Turbo Warrants, Barriers, and Vanilla Options.|
|Investment Products||Share Dealing, IG Smart Portfolio, Share Dealing ISA, Smart Portfolio ISA, SIPP, and Smart Portfolio SIPP.|
|Markets||18,000+ including Forex, shares, indices, commodities, Options, cryptocurrencies, ETFs, Futures, Spots, IPOs, Thematic and Basket, Bonds, Interest rates, and Sectors.|
|Trading Platforms||IG web trading platform, IG mobile trading platform, ProRealTime, L2 Dealer, and MetaTrader 4.|
|Pricing Model||Spreads and Commissions|
|Minimum Deposit||$250 (or currency equivalent)|
|Payment Options||Card Payments and Bank Wire Transfers, and Paypal.|
|Account Currencies||USD, GBP, AUD, EUR, SGD, HKD|
|FX Conversion Fee||0.5%|
ESMA – 1:30
|Minimum Trade Size||0.01|
|Customer Support Service||Live Chat, Telephone, and E-mail.|
Pros of IG Markets
- IG is authorized and regulated by top-tier regulatory bodies.
- Offers an extensive range of trading instruments.
- Offers industry-standard trading platforms.
- Hassle-free account registration.
- IG offers some of the most competitive spreads and low fees in the industry, making it an attractive choice for traders who want to keep their costs down.
- 24/7 support via phone, email, and live chat.
- IG provides traders with a range of research and analysis tools, including trading signals, market news, and educational resources.
- Provides adequate support for algorithmic trading.
- Offers a range of advanced trading tools, including its own Autochartist, which provides automated technical analysis.
- Available to traders based in the United States.
Cons of IG Markets
- IG charges an inactivity fee of $18 if no trading activity has occurred on an account for two years or more.
- Limited deposit and withdrawal options.
- IG requires relatively high margin requirements, which may not be suitable for all traders, especially those with small trading accounts.
IG Markets is a highly reputable and well-regulated broker that offers a range of financial products, industry-standard platforms, competitive pricing, and excellent customer support. While it may have some limitations, IG is an attractive choice for traders looking for a reliable and cost-effective online broker to work with.
IG Markets is a well-regulated broker, authorized and regulated by several top-tier regulatory bodies around the world. The broker is headquartered in the UK and is authorized and regulated by the Financial Conduct Authority (FCA). In addition to its regulatory compliance with the FCA, IG is also regulated globally by other top-tier financial regulatory bodies, including;
- MAS – Monetary Authority of Singapore (Singapore)
- Banque de France – Autorité des Marchés Financiers and Autorité de Contrôle Prudentiel et de Resolution (France)
- ASIC – Australian Securities and Investments Commission (Australia)
- FMA – Financial Markets Authority
- DFSA – Dubai Financial Services Authority (UAE)
- JFSA – Japanese Financial Services Authority (Japan)
These regulatory bodies ensure that IG Markets operates in compliance with their rules and regulations, which means that the broker must maintain a high standard of practice and that the interests of clients are protected.
IG also complies with other regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) regulations, which means that traders must verify their identity and provide proof of address before opening an account.
Overall, IG’s regulatory compliance is excellent, and the broker operates in a transparent and secure manner. As a regulated broker, IG provides clients with a high level of protection and peace of mind, which is crucial for traders and investors.
IG Markets offers a diverse range of financial products to cater to the varying needs of traders and investors. For traders, IG offers CFD trading, spread betting, turbo24, barriers, and vanilla options. The investment products offered on the platform include share dealing, share dealing ISA, IG Smart Portfolio, IG Smart Portfolio ISA, SIPP, and Smart Portfolio SIPP.
While IG may offer various financial products, some of the products are not available to clients in some regions and some of them are specifically designed for clients in specific countries. Therefore it is important to check that your financial product of interest is offered in your region.
Let’s take a close look at IG’s financial products offered by IG.
- CFD Trading – IG Markets offers CFDs trading which allows traders to speculate on the price movement of an underlying asset without actually owning it. The broker offers a wide range of over 18,000+ financial instruments, including currency pairs, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs.
- Spread Betting – Spread betting is a tax-efficient way for traders in the UK and Ireland to speculate on the price movements of financial instruments of an underlying asset without actually owning it. IG’s spread betting allows traders to speculate on various markets including currency pairs, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs.
- Turbo24 – Turbo24 is a unique product offered by IG, which allows traders to speculate on the short-term price movements of various markets. Turbo24 contracts have predefined expiry times and offer the potential for rapid profits or losses.
- Barriers – Barriers are another trading product available on IG’s platform. They enable traders to take positions on whether the price of an asset will touch or breach a specified price level within a predetermined timeframe. Barriers can offer increased control over risk and potential returns.
- Vanilla Options – IG Markets offers vanilla options, which provide traders with the right, but not the obligation, to buy or sell an asset at a predetermined price within a specific timeframe. Vanilla options offer flexibility and can be used for strategies like hedging and speculation.
- Share Dealing – IG facilitates share dealing, allowing investors to buy and sell shares in companies listed on major global stock exchanges. With IG, investors can invest in a wide range of assets including 13,000+ shares, 2000+ ETFs, and investment trusts.
- Share Dealing ISA – IG Markets offers a Share Dealing ISA (Individual Savings Account), providing a tax-efficient way for UK residents to invest in shares. With IG’s share dealing ISA, investors can take advantage of their annual ISA allowance, which allows potential tax savings of up to £20,000 on capital gains and income.
- IG Smart Portfolio – IG Smart Portfolio is a robo-advisory service that provides automated investment portfolios based on your risk profiles. It offers diversified portfolios across various asset classes, making investing accessible and convenient.
- IG Smart Portfolio ISA – The Smart Portfolio ISA combines the benefits of the IG Smart Portfolio service with the tax advantages of an ISA. UK residents can invest their ISA allowance in a diversified portfolio tailored to their risk tolerance and investment goals.
- SIPP – A Self-Invested Personal Pension (SIPP) is a retirement savings account available to UK residents. IG provides SIPP accounts, allowing investors to manage their pension investments and take advantage of tax benefits for long-term retirement planning.
- Smart Portfolio SIPP: The Smart Portfolio SIPP combines the benefits of the IG Smart Portfolio service with the tax advantages of a SIPP. It offers a convenient way for UK residents to invest for retirement, with automated portfolio management that is based on the investor’s risk profiles.
IG offers a broad range of financial products which cater to different trading and investment preferences, providing opportunities for both short-term trading and long-term investing. However, you should carefully consider your goals, risk tolerance, and tax implications in order to choose a product that is most suitable for your trading or investment need their needs.
IG Markets offers a wide variety of markets and asset classes across all of its product offerings.
The table below contains a detailed specification of IG’s asset classes across all its product offerings.
|CFDs||18,000 markets, including forex, stock indices, metals, energies, spot metals, soft commodities, shares, cryptocurrencies, DMA-Forex, DMA shares, ETFs and ETCs, options, interest rates, bonds, sectors, and stock index futures.|
|Spread Betting||18,000 markets, including forex, stock indices, metals, energies, spot metals, soft commodities, shares, cryptocurrencies, ETFs and ETCs, options, interest rates, bonds, sectors, share forwards, forex forwards, daily stock index futures, stock index futures, and daily oil futures.|
|Barriers||Forex, stock indices, metals, energies, spot metals, soft commodities, shares, daily stock index futures, and daily oil futures|
|Turbo24||Key forex pairs (such as EUR/USD and EUR/JPY), global indices,|
(including France 40 and Germany 40), and popular commodities (such as Gold, Brent Crude, and US Light Crude).
|Vanilla Options||Forex, stock indices, metals, energies, spot metals, soft commodities, daily stock index futures, and daily oil futures.|
|Share Dealing||13,000+ shares, 2000+ ETFs, and a number of investment trusts.|
IG Markets offers various account types for different trading and investment needs. Let’s take a closer look at each account type in detail.
- IG CFD Trading Account – IG CFD Trading account is ideally suited for traders of all levels, including beginners and experienced professionals. The account offers CFDs across a wide range of over 18,000+ trading instruments along with competitive pricing and high leverage. However, retail clients in the UK, Ireland, and Europe are subject to a maximum leverage of 1:30, in accordance with ESMA regulations.
- Spread Betting Account – IG’s Spread Betting account is similar to its CFD trading account but only available to UK and Ireland traders. Spread betting is tax-free in the UK and Ireland, making it a popular alternative to traditional CFD trading.
- IG Professional Account – IG’s Professional account is designed for experienced traders in the UK who meet certain criteria, including having a significant trading history and meeting certain financial thresholds. Traders who qualify for IG’s Professional account are eligible for higher leverage of up to 1:222 and are not subject to ESMA’s leverage restrictions.
- IG Turbo24 Trading Account
- IG Options Trading Account
- Limited Risk Account
- Share Dealing Account – IG’s Share Dealing Account is a non-leveraged account designed for traders who want to invest in stocks, exchange-traded funds (ETFs), and investment trusts. With the Share Dealing account, investors can access over 13,000+ shares, 2000+ ETFs, and a number of investment trusts. The Share Dealing account also features competitive commission rates, and a range of research and analysis tools to help investors make informed investment decisions.
- IG Smart Portfolio Account – IG’s Smart Portfolio account is a managed investment account that uses investment models to manage a diversified portfolio of exchange-traded funds (ETFs) on behalf of clients. This means that you won’t need to place your own trades as your portfolio will be managed for you by IG.
- Share Dealing ISA Account – IG’s Stocks and Shares ISA account is a tax-efficient way for UK residents to invest in stocks and shares. This account allows traders to invest up to £20,000 per tax year in a range of stocks, shares, and funds without paying any capital gains tax or income tax on their profits.
- SIPP Account – IG offers a Self-Invested Personal Pension (SIPP) account that allows users in the UK to manage their pension savings in a tax-efficient manner. With IG’s SIPP account, clients can invest in a wide range of assets, including 13,000+ Individual stocks, international exchanges, 2000+ exchange-traded funds (ETFs), and investment trusts. Users can also take advantage of IG’s research and analysis tools to help them make informed investment decisions.
Each of these account types comes with its own unique features and benefits, including access to a range of trading tools and resources, customer support, and competitive pricing. However, the downside is that some of the accounts offered are not available to clients in certain countries.
Overall, IG’s account types cater to a diverse range of traders and investors (from beginners to experienced professionals). Also, the different account types offered by IG, provide clients with a flexible and convenient way to simultaneously trade and invest in the financial markets from the comfort of a single broker.
Here is IG’s Margin and the leverage equivalent for all assets offered.
The table below contains a breakdown of IG’s margin for retail traders (in Europe, the UK, and Ireland).
Here is IG’s leverage for all assets offered.
The table below contains a breakdown of IG’s Leverage for retail traders in Europe, the UK, and Ireland.
Fees and Costs
Other fees which IG might charge include fees for direct market access (DMA), live price data feeds, ProRealTime charts, account inactivity, and account documentation.
Here is a breakdown of other fees charged by IG;
|Direct Market Access (DMA)||Obtaining live share prices from an exchange via a share dealing account incurs a monthly fee.|
|Live Price Data Feeds||Obtaining live share prices from an exchange via a share dealing account incurs a monthly fee.|
|ProRealTime Charts||Subscribing to the broker ProReal-time charts costs $40 per month which is refunded if you place four or more trades a month.|
|Inactivity Fee||An inactivity fee of $18 is charged if no trading activity has occurred for two years or more.|
|Account Documentation Fee||IG Charges a $50 (US) fee on accounts that have not supplied a mandatory W-8 or W-9 form prior to the dividend ex-date of a qualifying trade on a US-incorporated stock.|
IG provides traders with fast deposit and withdrawal payment methods at no cost. It offers flexible deposit and withdrawal options as traders have the options to process payment through a variety of popular funding methods which includes debit cards, credit cards, Paypal, and bank wire transfers. In addition, the minimum initial deposit required by IG is $250 or the equivalent in other currencies.
IG Markets offers a range of trading platforms to cater to the needs of different types of traders. The primary platform is the web-based platform, which is accessible through any web browser and offers a user-friendly interface and a wide range of tools and features for trading. Additionally, IG Markets also offers a mobile trading app for Android and iOS devices, which allows traders to trade on the go and monitor their positions on the go.
For more advanced traders, IG Markets also provides access to the L2 Dealer platform, which offers direct market access (DMA) and a range of advanced features for trading.
Finally, for traders who prefer to use third-party platforms, IG provides access to popular industry-standard platforms like MetaTrader 4 and ProRealTime. Overall, IG Markets provides a variety of trading platforms to cater to the needs of different traders, from beginners to professionals.
IG provides their traders with a multi-lingual customer support team, available 24 hours from 8 am on Saturday to 10 pm on Friday.
The customer support team can be reached via live chat, e-mail, and telephone and has a fairly average response rate when compared to other industry-standard brokers, as they are room for improvement, especially with their response rate.
IG is an excellent choice for traders of all levels, offering a highly advanced trading platform, competitive fees and commissions, a wide range of educational resources, and strict regulation. Their commitment to providing a secure and safe trading environment, combined with their innovative platform and educational resources, make them a top choice for anyone looking to trade or invest in the financial markets.
Frequently Asked Questions
What is IG Markets?
IG Markets is a UK-based financial services provider and one of the world’s biggest online trading providers, offering a comprehensive range of trading and investment services.
IG offers leveraged trading products, including CFDs and spread betting across a wide range of over 18,000+ instruments, including currency pairs, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs. IG also offers a range of non-leveraged investment products including individual shares, investment trusts, and exchange-traded funds (ETFs) with access to over 12,000+ global markets.
Is IG Markets regulated?
Yes, IG Markets is regulated by multiple authorities globally, including MAS, Banque de France, ASIC (Australia), FMA, DFSA (Dubai), JFSA (Japan), and FCA (U.K).
Is IG Markets a good broker?
Yes, IG Markets is a reputable broker with over 45 years of experience in the financial markets. The broker is regulated by multiple authorities worldwide, including the Financial Conduct Authority in the UK.
Additionally, IG Markets offers a range of exceptional brokerage services including trading and investment products, a wide range of global markets, industry-standard trading platforms, low trading fees, deep liquidity, superior trade execution, quality research tools, and educational resources among others.
However, as with any broker, there are potential risks and drawbacks to consider, therefore, it is important to conduct your own research and due diligence before choosing a broker.
What account types does IG Markets offer?
IG Markets offers various trading and investment account types including a CFD trading account, Spread Betting account (UK and Ireland only), Share Dealing account, IG Smart Portfolio account, Share Dealing ISA account (UK only), and SIPP Account (UK only).
What is the minimum deposit for IG Markets?
$250 (or currency equivalent) is the minimum deposit required on an IG Markets account globally. However, the minimum deposit required by IG may vary based on your account type, payment method, and country of residence.
How can I fund my IG account?
IG offers different funding options, including bank transfer, credit/debit card, and PayPal.
What markets can I trade on IG Markets?
IG offers traders a wide range of global markets including forex (spots), shares, indices, commodities, cryptocurrencies, ETFs, options, futures, IPOs, thematic and basket, bonds, interest rates, and sectors.
What trading platforms does IG offer?
IG offers its own proprietary trading platform, as well as the MetaTrader 5 platform for forex trading.
What are the fees and charges of IG Markets?
IG Markets charges various fees for its services, including spreads, commissions, overnight funding fees, inactivity fees, and currency conversion fees among others. These fees vary depending on the product and market being traded and can be subject to change over time.
What are the customer support options for IG Markets?
IG Markets offers several customer support options, including phone support, email support, live chat, social media, and a help and support section on its website.
Does IG Markets Allow Scalping
Yes, IG Markets allows scalping as a trading strategy on its platform.