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IG Markets Review 2024

Ben Johnson
Forex Broker Expert

ig markets

5 / 5 – 4 Ratings

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IG Markets offers a wide range of trading opportunities across various markets, a user-friendly platform, and access to research and educational resources. However, it comes with some drawbacks, including limited customer support, potential inactivity fees, and relatively high forex spreads. It’s essential for traders to carefully assess their specific needs and preferences to determine if IG Markets is the right brokerage for them.

Highlights

Brokers Name

IG Markets

Trading Desk

ECN

Year Founded

1974

Headquarters

London

Regulation

FCA

US Clients

🇺🇸
No

247 Support

✔️

Support Email

sales.en@ig.com

Telephone

+44 (20) 7633 5430

Address

Cannon Bridge House 25 Dowgate Hill London EC4R 2YA

Languages

English, Español, 中文简体, 中文繁體

Accounts Details

Commission

$0 commission

Account Name

Demo, Standard

Min. Deposit

$450

Base Currencies

USD, EUR

Order Execution

Market Еxecution

Max. Leverage

1:200

Starting Spreads

From 0.6 pips

Trade Size

0.01

Instruments

Commodities, Stock CFDs, ETFs, Forex, Indices, Metals

Demo Accounts

✔️

Swap-Free

Crypto Trading

✔️

CopyTrading

Platforms

Trading Platform

MT4, IG Trading Platform, L2 dealer, Browser Platform

Mobile Trading

✔️

Web Trading

✔️

Affiliate Program

✔️

Funding

Deposit Methods

Bank transfer, payment cards

Withdrawal Methods

Bank transfer, payment cards

Pros

  • Wide Range of Markets
  • User-Friendly Platform
  • Research and Educational Resources
  • Mobile Trading Apps
  • Risk Management Tools

Cons

  • Limited Customer Support
  • Inactivity Fees
  • High Forex Spreads
  • Limited Cryptocurrency Selection
5 / 5 – 4 Ratings

The IG Group corporation structurally subdivides into the Forex broker IG Markets. The FTSE 250 index includes its equities, which are listed on the London Stock Exchange. IG Markets was founded in 1974 and has its headquarters in the UK, but since then, it has opened representative offices in a few other European nations. A retail range of brokerage services has been available since 2014. The Bermuda Monetary Authority has granted the broker’s international division a license and registered it there. The broker’s primary business is offering services for trading financial derivatives (CFDs).

Regulation

UK

IG Markets Limited (IGM) and IG Index Limited (IGI), incorporated in England and Wales, are separately licensed as investment firms by the FCA. In terms of the licences they hold, IGM and IGI may deal as principal or agent, and execute orders for a range of derivatives and securities. IGM may also offer discretionary management services to professional and retail clients.

EU

Incorporated in Germany, IG Europe GmbH (IGE) has a regulatory licence from the German Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank. This licence enables IGE to offer a direct service to our EU clients. It permits the same execution and dealing on financial markets as the licence held by IGM, but doesn’t permit IGE to offer discretionary management services.

Spectrum MTF Operator GmbH is authorised by BaFin and regulated as a multilateral trading facility (MTF) under MiFID. As such, it’s licensed to provide a trading venue for on-exchange leveraged trading products. Spectrum currently offers a 24/5 market for leveraged turbo warrants (Turbo24) which cover equities, indices, forex and commodities.

BrightPool Limited is an investment firm authorised and regulated by the Cyprus Securities and Exchange Commission (CySec). As such, it acts as a multi-asset market-making service provider, offering investment and ancillary services.

Switzerland

Incorporated in Switzerland, IG Bank SA (IGB) is authorised as a bank and securities dealer by the Swiss Financial Market Supervisory Authority (FINMA). The licence it holds permits the trading of bilateral non-tradable contracts for difference (CFDs) and other tailor-made derivatives on foreign exchange, equities, indices, precious metals, commodities and other underlying markets through one or more online platforms.

Dubai

IG Limited, incorporated in Dubai, is licensed by the Dubai Financial Services Authority (DFSA) to arrange deals in investments and directly deal in investments as a principal in a range of investment types. Dealing in investments as a principal is limited to deals undertaken on a matched principal basis only.

South Africa

IG Markets South Africa Limited, incorporated within England and Wales, has a branch regulated by the Financial Sector Conduct Authority (FSCA) and is registered as an authorised financial services provider in South Africa. This permits the intermediary to offer (execution-only) services and non-automated advice on derivatives contracts on a variety of markets.

Singapore

IG Asia Pte Ltd (IGA) is regulated by the Monetary Authority of Singapore (MAS). It holds a Capital Markets Services licence under the Securities and Futures Act to deal in capital market products that are over-the-counter derivatives contracts on a variety of markets. As an Exempt Financial Adviser under the Financial Advisers Act, IGA is also permitted to issue analytic reports on investment products such as over-the-counter derivatives contracts and units in collective investment schemes.

Japan

IG Securities Ltd is regulated by the Japanese Financial Services Agency (JFSA) for Securities and Currencies, the Ministry of Economy, Trade and Industry (METI) for Hard Commodities, and the Ministry of Agriculture, Forestry and Fisheries (MAFF) for Soft Commodities. It has a licence to execute orders for derivatives contracts held for the financial instruments referenced above.

Australia and New Zealand

IGM is regulated in Australia by the Australian Securities and Investments Commission (ASIC) under an Australian Financial Services Licence. This licence allows the provision of general advice and dealing in derivatives, foreign exchange contracts and securities. It also allows IGM to make a market for derivatives and foreign exchange contracts, and to carry out custodial or depository services other than investor-directed portfolio services to retail and wholesale clients.

In New Zealand, IGM is regulated by the Financial Markets Authority (FMA) under a derivative issuers licence, covering a variety of derivative contracts.

US

IG US LLC (IG US) is registered as a retail foreign exchange dealer (RFED) and introducing broker (IB) with the CFTC, and is a member of the National Futures Association (NFA ID 0509630). IG US can offer rolling spot FX and options on an execution-only basis. It may not offer accounts to residents of Arizona or Ohio.

tastyworks is an award-winning US retail broker for active stock, options, futures or crypto traders. It’s a member of the Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC) and National Futures Association (NFA).

Bermuda

Incorporated in Bermuda, IG International Limited (IG INT) is licensed by the Bermuda Monetary Authority to conduct investment and digital asset business. In terms of its licences, IG INT is permitted to offer CFDs on a range of asset classes, including cryptocurrencies, to retail clients on an execution-only basis.

IG Markets Accounts

According to the regulation you trade in and your country of residence you may find different features as some assets might not be available in your area. IG Markets’ retail clients from Europe, the UK, and Australia will find leverage up to 1:30.

IG Markets Standard Account

  • Availability: Under BaFin, FCA, ASIC, FMA, FSCA, NFA, MAS, DFSA, JFSA, FINMA, BMA.
  • Markets: Forex, indices, cryptocurrencies, shares, commodities (17.000+ assets in total).
  • Commissions: Floating spread from 0.6 pips. Rollover fees apply on open positions overnight.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:20 (MAS), up to 1:30 (BaFin, FCA, ASIC, DFSA), up to 1:50 (NFA).
  • Account opening: Demo account is unlimited, and the minimum deposit goes according to your country of residence such as $250 (UK), $300 (EU), and $450 (Australia).

IG Markets Limited Risk Account

  • Availability: Under ASIC, FMA, FSCA, MAS, DFSA, JFSA, FINMA, BMA.
  • Markets: Forex, indices, cryptocurrencies, shares, commodities (17.000+ assets in total).
  • Commissions: You will find spreads starting at 0.6 pips; rollover fees on any position kept open overnight.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:20 (MAS), up to 1:30 (ASIC, DFSA).
  • Special features: All the positions you open will not allow you to lose more than the initial deposit required to open the trade. All your positions will have a guaranteed stop.
  • Account opening: There is a free demo account to try; live accounts require a minimum deposit which depends on the regulator you fall under.

IG Markets Spread Betting Account

  • Availability: Under FCA.
  • Markets: Forex, indices, cryptocurrencies, shares, commodities (17.000+ assets in total).
  • Commissions: Floating spread from 0.6 pips.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:30.
  • Account opening: Unlimited demo account; $300 minimum deposit to switch to a live account.

IG Markets Options Account

  • Availability: Under BaFin.
  • Markets: Barrier and vanilla options on forex, indices, shares, commodities (17.000+ options in total).
  • Commissions: You will get charged spreads starting at 0.6 pips and a rollover fee if you wish to trade overnight positions.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:30 (vanilla), up to 1:100 (barrier).
  • Account opening: This account offers an unlimited demo account; to proceed to a live account you need to deposit at least $300.

IG Markets Turbo24 Account

  • Availability: Under BaFin.
  • Markets: Forex, indices, shares, commodities (17.000+ assets in total).
  • Commissions: You will find floating spreads from 0.6 pips on this account; open positions for consecutive days attract a rollover fee.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:100.
  • Account opening: Available only to residents in Ireland, French, Germany, Spain, Italy, Sweden, Netherlands, and Norway; unlimited demo account; live account with $300 minimum deposit.

IG Markets Share Dealing Account

  • Availability: Under FCA, ASIC, DFSA, JFSA.
  • Markets: Shares, ETFs, investment trusts (15.000+ assets in total).
  • Commissions: From $0 commission on US stocks.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer.
  • Trade size: From 1 micro lot.
  • Leverage: No leverage on this account.
  • Account opening: You have the ability to open an unlimited demo account first then proceed to a live account with a $250 (UK), or $450 (Australia) minimum deposit.

IG Markets Professional Account

  • Availability: Under BaFin, FCA, ASIC, DFSA.
  • Markets: Forex, indices, cryptocurrencies, shares, commodities (17.000+ assets in total).
  • Commissions: Charging spreads starting from 0.6 pips. Open positions for consecutive days also charge a rollover fee.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:222, under ASIC up to 1:250.
  • Account opening: You have to meet certain conditions to be eligible; free unlimited demo account; live accounts with variable minimum deposit depending on the broker’s branch and regulator.

IG Markets Select Account

  • Availability: Under BaFin.
  • Markets: Forex, indices, cryptocurrencies, shares, commodities (17.000+ options in total).
  • Commissions: Spread start from 0.6 pips; if you keep open positions overnight you will be charged rollover fees.
  • Platforms: IG Markets WebTrader, IG Markets Mobile App, MT4, L2 Dealer, ProRealTime.
  • Trade size: From 1 micro lot.
  • Leverage: Up to 1:222.
  • Account opening: Available only to European Premium clients; open a professional account then contact customer service to open a Select account.

IG Trading Platform

  • Get an instant overview of market prices, spread, and margin with our simple, clean design
  • Mitigate risk and protect your profits with our range of stops and limits – including guaranteed stops for watertight protection1
  • Choose your preferred currency to keep conversion charges down.
  • Trade automatically by setting orders to open at your chosen level, then choose their expiry date or close manually
  • Set alerts to trigger when a market moves an amount, hits a price level or meets your technical conditions
  • Find dealing specs in the ‘information’ tab – minimum stop distances and trade sizes, margin factors and more

L2 Dealer

L2 Dealer is IG Markets direct market access (DMA) platform. On L2 Dealer, you’ll be able to trade share or forex CFDs, straight through the order books of international exchanges.

Why trade on L2 Dealer?

  • See every single bid and offer that’s been made in a market.
  • Assess whether other market participants are currently bullish or bearish before taking your position.
  • Use volume metrics to assess an underlying market’s liquidity.
  • Deal with sophisticated order types which vary according to the exchange you’re trading on.
  • Take a position anonymously and slice large orders into tranches to hide your full size, especially if it could affect market prices.
  • Increase your chances of getting the best prices by entering auctions.

MetaTrader 4

MetaTrader 4 is an advanced trading platform that gives you access to a range of tools and features to help you carry out analysis and customise your trading experience. These tools can also help you to use and build trading algorithms which can automate your trading.

Discover the benefits of trading on MT4, how to open an account with IG, and some of the features that are available to you on MT4.

  1. Create a live IG account or a demo MT4 account
  2. Log in to your My IG dashboard – from the IG platform, you’ll find it in the top right of your screen
  3. Select ‘add an account’ at the bottom right of the window
  4. Decide whether you want to trade CFDs on MT4
  5. Follow the on-screen prompts

ProRealTime

ProRealTime is online charting software for technical analysis and trading, which is integrated with the IG trading platform. Designed for experienced traders who employ advanced technical analysis and want to automate their dealing, the software gives users a fully customisable interface and trading experience.

  • Automate CFD trading
  • Build algorithms using assisted creation tools, or code them from scratch
  • Backtest using 30 years of historical data
  • Execute trades 24 hours a day, whether or not you’re at your desk
  • Import strategies, even those made by third parties
  • Mitigate against losses and lock in profits with trailing stops

Spreads

Your key payment for trading CFDs on forex is the spread – the difference between the buy and the sell price – our charge for executing your trade. We work to keep our spreads among the lowest in the business.

Spot FXIG min. spreadIG av. spreadIG av. spreadDMA av. spread
EUR/USD0.61.130.860.165
AUD/USD0.61.331.070.295
USD/JPY0.71.260.960.242
EUR/GBP0.92.511.830.540
GBP/USD0.92.381.840.589
EUR/JPY1.52.571.960.678
USD/CHF1.52.291.950.399

Margins

When you trade CFDs you do so with leverage – meaning you can win, or lose, a significant amount more than your initial deposit – called your margin. Though not actually a cost to you, the margin you pay makes a big difference to the affordability of your forex trade.

Spot FXRetail marginLeverage equivalent
EUR/USD0.5%1:200
AUD/USD0.5%1:200
USD/JPY0.5%1:200
EUR/GBP0.5%1:200
GBP/USD0.5%1:200
EUR/JPY0.5%1:200
USD/CHF1.50%1:67

Contacts

IG
Cannon Bridge House
25 Dowgate Hill
London EC4R 2YA

  • New clients: +44 (20) 7633 5430 
  • Email sales.en@ig.com

The promotion is being shared here solely for informational purposes. Please note that this should not be considered as financial advice.

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