IG Review
4.6
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
IG Broker is an excellent choice for forex trading due to its wide range of forex pairs, competitive spreads, advanced trading tools, comprehensive analysis capabilities, robust risk management features, regulatory compliance, and educational resources. Whether you are a beginner or an experienced trader, IG Broker provides the necessary tools and support to thrive in the forex market.
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Excellent deposit and withdrawal options
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Majority of clients regulated by top-tier financial authority
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Low minimum deposit requirement
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Listed on stock exchange
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
1974
0$
0$
Stock*, ETF, Forex, CFD, Options
Mobile, Web
*Stocks are tradable only in some of the countries
Account Opening
IG offers a seamless and completely digital process for opening an account. There is no minimum deposit required for bank transfers, and for credit/debit cards and PayPal, the minimum deposit is a modest $300/€300/£250. However, it's worth noting that the account verification process may take approximately 3 business days, which is comparatively slower than some other brokers. The type of account you can open is determined by the country where you reside. In most countries, you can engage in forex trading, as well as trade CFDs and options. It's important to note that clients from the US can only utilize IG's forex trading service, as CFD trading is not available to them. IG offers a straightforward and fully digital procedure for opening an account. The online registration can be completed within 10 minutes. However, the verification of your account may take a bit longer. To get started, you simply need to provide your name, date of birth, email address, country of residence, and select the type of account you wish to open. Additionally, you will be asked a few questions regarding your financial and employment status, as well as your financial knowledge. You will also need to complete a brief test. In order to verify your identity and residency, you can easily upload a national ID, passport, or driver's license. Utility bills and bank statements are acceptable documents for verifying your residency.
Safety
IG, the parent company of IG Group, is a regulated entity overseen by multiple financial authorities worldwide. It demonstrates its commitment to transparency and compliance by being listed on the London Stock Exchange. IG operates under the supervision of various reputable financial authorities across different jurisdictions. Some of the prominent regulatory bodies include: International: Bermuda Monetary Authority (BMA) United States: Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) United Kingdom: Financial Conduct Authority (FCA) Australia: Australian Securities and Investment Commission (ASIC) United Arab Emirates: Dubai Financial Services Authority (DFSA) Germany: Federal Financial Supervisory Authority (BaFin) Switzerland: Swiss Financial Market Supervisory Authority (FINMA) New Zealand: Financial Markets Authority (FMA) Singapore: Monetary Authority of Singapore (MAS) Japan: Japanese Financial Services Authority (FSA) South Africa: Financial Sector Conduct Authority (FSCA) IG takes measures to protect its clients from potential losses. It provides negative balance protection specifically for forex spot and CFD trading, but this protection is applicable only to retail clients within the European Union. It's important to note that professional clients and non-EU clients are not covered by any negative balance protection measures. Established in 1974, IG is headquartered in England.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
IG offers one of the most outstanding web trading platforms available. The deposit and withdrawal conditions provided by IG are highly favorable.
As a globally recognized CFD broker, IG holds a prominent position in the industry, known for its reliability. It operates under the regulation of multiple esteemed financial authorities worldwide, with IG Group being listed on the London Stock Exchange.
However, it's important to note that forex and stock CFD fees associated with IG can be relatively high. Additionally, in many countries, the product portfolio is primarily focused on forex, CFDs, and options, limiting the available options for trading.
One of the notable advantages of IG is the opportunity to test their trading platform at no cost. There is no minimum funding requirement, allowing users to explore the platform freely. Furthermore, opening a demo account with IG is a hassle-free process.