IG Review 2020

IG Group is without a doubt, the best and the top-positioned forex retailer which offers an extraordinary number of instruments. Working for quite a while, they have a lot of experience and they are experts in forex exchanging. This IG review covers everything about this firm including its upsides and downsides, expenses, commissions, platforms, researches, and their experience.

ig review
4.5/5
76% of retail CFD accounts lose money
 

Short Summary

Minimum Deposit

$ 0

Assets

CFD, Forex, Crypto, Stocks, Digital Options, Futures, and Options

Demo Account

Yes

Islamic Accounts

No

Caution: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this broker. Your capital is always at risk.

At whatever point you are going to begin work with a dealer you have to look at every little thing about it. This IG review is going to open up the concealed upsides and downsides of working with this agent. View them.

Pros
  • Wide Range of Assets
  • Trading platform is awesome
  • Delivery of education
Cons
  • No copy trading
  • No Live chat
  • Phone support is also poor
  • Stock CFD fee is high

Introduction

76% of retail CFD accounts lose money

IG is the abbreviation of the Investors Gold Index. It is a world-driving web-based exchanging supplier, giving you access to monetary markets through instinctive stages. As indicated by certain reports of ongoing years, the IG showcase produces income of practically 487.5 million dollars.

Year Founded

  • IG bunch was established in 1974. This organization is working for quite a while. It is likely one of the oldest and authentic firms.
  • However, in Australia, this dealer was presented in 2002.
  • From 2019, US inhabitants were additionally ready to work with them.

Owner and Team

  • Stuart Wheeler is the proprietor of this firm. He is a certified and experienced British financier & an active politician.
  • June Felix is the Chief Executive officer of this organization.

Headquarters

IG has its workplaces in 16 nations of the World. This organization is UK based. So it has an administrative center in London.

  • USA (North America)
  • Singapore
  • United Arab Emirates
  • Australia
  • France
  • Italy

There are additionally numerous workplaces in the European nations.

Choosing clients

Like each other agents, IG likewise permits just chosen nations to work with them. View which nations are worthy and which nations are non-satisfactory.

Acceptable Clients

IG accepts clients from Pakistan, India, Singapore, Japan, and Bangladesh. Middle East countries like Egypt and Turkey, Central Asian Countries like Russia and others, Arabian countries Saudi Arabia, Qatar, and European countries can work with IG markets. It also accepts clients from South Africa, Australia, and the United States of America.

Not Acceptable

Syria, Iran, Iraq, Nigeria, North Korea, and Canada are non-acceptable.

Regulation

76% of retail CFD accounts lose money

IG has regulation with many regulatory bodies including the top-tiers. CFD Accounts provided by IG International Limited which is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority and is registered in Bermuda under No. 54814.

  • The majority of the clients belong to the top-tier.
  • It does not hold any banking license.
  • This company is listed on the stock exchange.
  • Financial information is available publicly.

Have a view on the regulatory bodies.

  • Australia – Australian Securities and Investment Commission (ASIC)
  • Europe – Federal Financial Supervisory Authority
  • Japan – Japanese Financial Services Authority (FSA)
  • New Zealand – Financial Markets Authority (FMA)
  • Singapore – Monetary Authority of Singapore (MAS)
  • South Africa – Financial Sector Conduct Authority (FSCA)
  • Switzerland – Swiss Financial Market Supervisory Authority (FINMA)
  • UAE – Dubai Financial Services Authority (DFSA)
  • UK – Financial Conduct Authority (FCA)
  • US – Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)

Safety

IG Group has a protected foundation. It is working for very nearly 45 years. Guidelines by many regulatory associations which incorporates the top-tiers make it trusty. The accessibility of all the budgetary reports and records guarantees that this dealer is sheltered to utilize. The listing of this organization on the Stock Exchange gives an extra point to reach the degree of complete security.

They likewise give a negative parity assurance to the customers.

  • For residents of the UK, this amount is 85,000 Pounds.
  • The amount for the nationals of Switzerland is CHF 1,00,000.
  • And for EU countries except the UK and Switzerland, the amount is €20,000.
  • There is no protection for other countries like the USA, Australia, and Asian countries.
  • Only retail customers of EU countries can avail it.
  • It is not valid for professional and international traders.
  • Your amount is held in segregate accounts.
  • They do not use your money for their business.
  • Client data, account details, and trading history is confidential.

Assets

IG offers a great selection of tradable instruments due to which it has a distinctive position in the forex world. It is obvious that reviews also based on the offering and availability of assets. IG review for its assets separates it from other brokers.

  • CFDs (except USA)
  • Commodities (metals and energies)
  • Cryptos (Bitcoin, Ethereum, and Ripple)
  • Digital options (binary options)
  • Forex (currency pairs, including majors, minors, exotics, Scandinavian and emerging countries)
  • Indices like NASDAQ
  • Shares (Apple & Netflix)
  • Spread betting (speculation of forex & CFD)
  • Only UK, Australia, Ireland, Malta, and European countries can trade in Real Stocks.
  • It also offers an IPO (initial public offering) and Turbo24 (ETF).

Have a quantitative view on these offerings.

Currency pairs
92+
Stock index CFDs
65+
Stock CFDs
10,000+
ETF CFDs
1899+
Commodity CFDs
45+
Bond CFDs
12+
Cryptos
8
Real Stocks
5+

Fees & Margins

76% of retail CFD accounts lose money

Have a look at the trading and non-trading fee.

Trading Fee

  • IG has an average and low fees for CFDs and forex trading.
  • Stock CFD fee is high.
Assets Spread Leverages
Forex
0.6 pip
1:30
GBP/USD
0.9 pip
1:30
Commodities
0.3 pip
1:20
Cryptos
0.6 pip
1:2
Indices
1 pip
1:20
Stock CFD
0.1 pip ( variable)
Var
  • Spread and leverage level of almost 17,000 financial products is different but this is an average based overview.
  • There are also discounts on trading more than 3 times.
  • Commission rate may vary according to your trade rate.
  • They have transparent and competitive spread.
  • There is a fee calculator on the official website of this company.

Non-Trading Fee

  • Withdrawal is free.
  • Deposit is also free.
  • There is an inactivity fee of $18 per month after consecutive two years of not trading.
  • There are not any kind of hidden charges.
  • There is no account setup fee and account closure charges.

Account Opening

76% of retail CFD accounts lose money

Account opening is easy and digital.

  • IG takes some time to open an account in comparison with another broker. It takes approximately 2 to 4 days.
  • The minimum deposit is low.
  • If you choose bank transfer for account opening is free.
  • But for credit or debit cards the minimum deposit should be at least $300.
  • The country of your residence determines which account you can use. Because all products are not available in every country. Like you can trade only forex in US and CFD is not traded. Asian countries and other countries except Europe, Australia, and Europe can only trade with Forex and CFDs.

You just need to open the website of IG and click on Create a live account. Then you have to fill an online form.

  • Enter your country name and contact details.
  • Add your personal information and fill out the KYC.
  • Provide details of your financial status, assets, and job/ business.
  • Answer the questions related to the financial market.
  • You have to provide documents for verification of your identity and residency. You can use your pictures of your id card, driving license or passport to show identity. For residency, you can share detail and pictures of your bank statement, electricity or utility bill, and credit card detail.

Online registration will complete in a few steps. However, verification is pretty slow.

Types of Accounts

76% of retail CFD accounts lose money

IG offers a live account which includes different accounts according to the country. These accounts are,

  • CFD trading account
  • CFD trading & spread betting account
  • Spread betting account
  • Share dealing & CFD trading account

Live Account

The minimum trade size for a live account is $1. A back up of at least $1,000 is recommended to cope up with market volatility. You can open a live account wherever you live. But the type of live account is according to the country you live in.

Pro Account

You can also sign up for a professional account. Professional accounts offer greater leverages. You need 10 trades per quarter of a year. A bank balance of 50,000 Pounds s required to qualify as a professional account.

Deposits & Withdrawals

76% of retail CFD accounts lose money

You can deposit your cash in numerous ways. It has adaptable alternatives. The following are the ways by which you can store your cash. The maximum limit of the transaction of one day is 20,000 Pounds.

  • Debit/ Credit Cards (minimum $250)
  • Bank Transfer
  • Electronic wallets like PayPal.

Withdrawal is free moreover. You can withdraw your money by the same methods used for deposit.

When you need to deposit money follow these steps.

  • Login to your account.
  • Click on Menu and Select Withdraw Funds.
  • Enter your desired amount and method.
  • Initiate the withdrawal.

Withdrawal is slow. It takes almost 2 to 4 days to get your amount of withdrawal.

Account Base Currencies

There are seven account base currencies available at IG. EUR, USD, GBP, AUD, SGD, and HKD are the base currencies. Exchanging and exchanges aside from your base cash makes you pay for a transformation charge. You need to try a multi-currency bank to protect your withdrawal and deposit from conversion charges.

Trading Platform

76% of retail CFD accounts lose money

IG executes its trades on its platform. Trades are also executed on the third-party platforms. NO doubt, their advanced, feature-rich, versatile, and unique platforms are the main reason for an excellent IG review.

Progressive Web App

It is available from any gadget. The offers a moment perspective on showcase costs and spreads. You can put arrangements by ensured stop misfortune. ProRealTime

It is a third party software. This platform great for dealers hoping to direct propelled specialized investigation, with high volume and different indicators, in addition to a completely adjustable UI.

ProRealTime additionally considers mechanized managing. Clients can fabricate calculations with the assistance of inventive instruments. Backtesting is also available.

L2 Dealer

L2 Dealer is an immediate market get to (DMA) share exchanging stage. The product has helpful checking apparatuses, including watch lists and value cautions. The L2 Dealer framework likewise encourages direct graph exchanging and accompanies value improvement innovation.

MetaTrader 4

It is also a third-party platform that was introduced by METAQUOTES. This platform is the most common having many types of advanced features, as well as expert advice, and strategy tester.

Web Trading Platform

Web Trading platform has contributed a big part of making IG reviews best. IG web trading platform is the most advanced and well-designed one. Have a look on the web trading platform in our IG review.

  • It is easy to use.
  • You can search anything easily just by writing the single alphabet you can find related long list.
  • You can place orders of many types like market, limit, stop-loss, guaranteed stop loss, trailing stops, Good till Date, and Good till Canceled.
  • By installing the IG authentication app to system you can enjoy a two-step verification process which is more secure.
  • You can set price alerts and notifications easily.
  • There is proper and a clear fee report.
  • 4-time frames are available on a single chart.
  • There are 25+ indicators including Bollinger Bands.
  • Almost 19 drawing tools are present.
  • Charting is also very good.
  • The research options and news is also reliable.
  • Trading signals are also available.
  • There is a great customization. You can switch to night and day modes also.
  • The setting of alerts and notifications is very extensive.
  • It is available only in English.s

Mobile Trading Platform

This platform is available on both iOS and Android. Here are some features of the mobile trading platform.

  • It is also available in English only.
  • The design, customization, and other features are just average as compare to the web trading platform.
  • Charting is good in the mobile trading platform.
  • It also has 28 indicators including, Fibonacci retracements and Bollinger Bands.
  • Search functions are also good.
  • You can set up price alerts and notifications. As compared to the web trading platform this setting is only basic and not very advanced.
  • The login is a single step which is a drawback. As it is a mobile trading platform, it must allow a biometric authentication or face login feature.
  • You can place orders like market, stop, limit, trailing stop loss, guaranteed stop loss, Good till Canceled, and Good till Date.

Desktop Trading Platform

IG has not a desktop trading platform that is made by this company. They are trying to make an advanced desktop trading platform. But IG review is still good about its mobile trading platform. They use MetaTrader4 as a desktop trading platform.

  • MT4 has a wide range of assets.
  • It involves the feature of Expert advice.
  • MT4 provides 3 types of charting tools.
  • It facilitates by backtesting strategy.
  • You can set basic order types like you can set in mobile and web version of it.
  • Search functions are just average.
  • You can set up price alerts and notifications. All you need is to enter your MetaQuotes ID.
  • It is outdated.

Auto Trading

IG also offers auto trading which is an additional point in a good IG Review. MetaTrader4 executes automated trading. However, social or copy trading is not allowed.

Ratings

Have a simple ratings about the platforms of  IG.

Desktop Trading Platform – Average

Mobile Trading Platform ­- Good

Web Trading Platform – Excellent

Research

76% of retail CFD accounts lose money

IG review about its research is good. Their research department is very hardworking.

  • There are trading signals available on all platforms.
  • Newsfeed is authentic and reliable.
  • Charting and indicators are also awesome.
  • There are a lot of trading ideas.
  • The IG live TV on which you can Watch shows with experts three times a day, Monday to Friday. Visit on the website for daily show timings and schedules.
  1. 7:30 am (live) – Pre-European open bulletin
  2. 30am (live) – Charting the markets
  3. 4 pm: Trading look ahead
  • You can get an exclusive coverage of major events, like monetary policy announcements from the Federal Reserve and Bank of England.
  • This news is brought to you by Thomas Reuters.
  • We found fundamental is missing.
  • IG has also a community so you anyone can exchange their ideas about trading there.

Education

76% of retail CFD accounts lose money

IG review about providing education is very good.

  • You can learn from,
  • Platform Tutorial videos
  • Webinars
  • General Educational videos
  • Demo Account is also provided to you with virtual cash so that you can learn and expertise your skills.
  • If you visit the website, you will find a section of “Learn to Trade” which has some quality material regarding forex trading.
  • However, it does not provide easy and comprehensive articles.

Bonus & Promos

IG review about providing bonuses and promos is not good. However, sometimes customers get a cash rebate son trading high volume. You may also get a referral bonus.

Customer Services

76% of retail CFD accounts lose money

IG review about customer services is just average.

  • You can contact them via e-mail and live chat.
  • The phone is not responsive even after calling many times.
  • They give relevant answers to your queries. Live chat is not very responsive, their answers and the time they took for a reply is irritating.
  • Customer support is available 24/7 except a few night hours of the UK between the Friday and Saturday night.
  • The official website is ig.com.

IG Review

76% of retail CFD accounts lose money

IG is a reputable and the most trusted broker in the world. In the rankings of many recent years, IG maintained its top position. This firm has also won many awards. Working in 5 continents and having over 1,77,999 clients over the globe shows people trust in this Firm. Overall, IG review is excellent in every country.

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