With a wide selection of tradeable markets, top-notch trading and research tools, and industry-best education, IG broker provides the most all-inclusive trading package available.
IG is a reliable multi-asset broker that is regulated globally and openly traded. Even after more than six years of reviewing IG, I’m still amazed by the platform’s overall outstanding trading experience.
IG pros & cons
- Pros
- We have designated IG as the ForexBrokers.com 2024 Annual Awards’ #1 Overall Broker.
- Eight Tier-1 nations control IG, which is listed on the London Stock Exchange (LON: IGG).
- In our database, IG has the highest Trust Score, making it the most reliable broker for CFDs and forex as of 2024.
- Through its new brand, tastyfx, US forex traders may access the IG trading experience.
- In 2024, IG won Best in Class for Platforms & Tools, Commissions & Fees, Professional Trading, Offering of Investments (with over 19,000 tradeable products), and Commissions & Fees.
- With IG’s $1 billion acquisition of tastytrade, U.S. clients were able to trade options and listed derivatives, or futures.
- IG provides listed derivatives, including as options and futures trading in the US and Europe, in addition to share-dealing and IG Smart Portfolios.
- Cons
- Even though IG has the best web platform in the business, some manual configuration is required due to the absence of predefined layouts.
- With the addition of Autochartist and premium MT4 add-ons from FX Blue, IG’s MetaTrader offering still only has about 80 tradeable products.
- Although MT5 is not yet ready, IG’s main platforms are Best in Class.
Overall Summary
Overall Rating
Trust Score
99 out of 100
Commissions & Fees
Platform & Tools
Mobile Trading
Research
Education
Is IG Legal?
Indeed, IG broker is a reputable broker that has been in business for almost 40 years and has a solid reputation for being a well-run business. IG is a publicly traded company that possesses multiple regulatory licenses worldwide in addition to a Swiss banking license. It’s also important to note that, as of October 2023, IG’s market capitalization was 2.46 billion GBP. For additional information on the significance of these figures, see our Trust Score page. After TastyTrade entered the US market, IG recently acquired the company and proceeded to develop into futures, options, and a wide range of other asset classes.
Year Founded
1974
Publicly Traded
Yes
Bank info
Yes
Tier-1 Licenses info
8
Tier-2 Licenses info
2
Tier-3 Licenses info
0
Tier-4 Licenses info
1
Offering of investments
In addition to almost 20,000 CFDs, IG provides exchange-traded securities (non-CFDs) through its share trading account that allow citizens of Australia, Germany, and the United Kingdom (see out our evaluation of IG’s share dealing in the UK), to access foreign stock markets. Apart from FX options, IG provides listed derivatives in the U.S. through tastytrade, its Multilateral Trading Facility (MTF) in Europe, and exchange-traded Turbo warrants as part of Spectrum. For qualified customers, IG Bank in Switzerland is an additional choice.
Cryptocurrency: IG offers CFDs for trading cryptocurrency; trading the underlying asset (such as purchasing Bitcoin) is not possible. Retail traders cannot purchase crypto derivatives from IG in the United Kingdom.
The following table describe the different investment products available to IG clients.
Tradeable Symbols
19537
Forex Trading (Spot or CFDs)
Yes
Forex Pairs
97
U.S. Stock Trading
Yes
Social Trading / Copy Trading
Yes
Int’l Stock Trading
No
Cryptocurrency (Physical)
No
Cryptocurrency (Derivative)
Yes
Getting Started With IG
It can seem overwhelming to open an account with a forex broker for the first time. The application process for a forex broker may be impacted by a number of variables, including your place of residence. Whatever your location, you must select the kind of account and trading platform that best meet your needs and become familiar with the terms and conditions of the account agreement that will control your dealings with your broker.
Opening of an account
I discovered that opening an account on IG was a simple and relatively easy process. Let’s review some crucial information regarding creating an IG forex trading account:
1. Basic Information
I discovered that opening an account on IG was a simple and relatively easy process. Let’s review some crucial information regarding creating an IG forex trading account:
Fundamental data Depending on how quickly you type, you should allow yourself about ten minutes to complete some basic forms and check the boxes pertaining to your personal financial situation and investment experience.
In order to open a forex trading account, you will also need to provide the personal information required by Know-Your-Customer (KYC) and Anti Money Laundering (AML) regulations. The following are typical examples of the fields you’ll have to fill out in order to proceed:
Full legal name
Country of residency
Tax residency
Permanent address
Mailing address
You might occasionally be asked to take a selfie with your ID or have an identity verification app scan your face. This will vary based on your home country and your broker’s preferences.
2. Establishing an account
You can access a demo account and your live trading account (each trading account has its own account number) by logging into the IG broker web portal once your account has been created. As long as IG accepts your preferred deposit method, you can now use it to fund your account. PayPal is now a widely used payment option for funding forex trading accounts (and is also accepted at IG).
Tips for Choosing the Right IG Account
1. Assess Your Trading Style
Consider whether you are a short-term or long-term trader, your risk tolerance, and the markets you intend to trade. IG offers different account types tailored to different trading styles.
2. Demo Account
Take advantage of IG’s demo account to familiarize yourself with their platforms and test your trading strategies in a risk-free environment before committing real funds.
3. Consider Fees and Costs
Understand the fee structure, including spreads, commissions, overnight financing charges, and any other applicable fees. Compare these costs with other brokers to ensure competitive pricing.
4. Regulatory Compliance
Ensure that IG is regulated in your country or region of residence. Regulatory compliance is crucial for investor protection and ensuring a safe trading environment.
Options for deposits
You can view the funding options at IG broker by clicking the “Add More Funds” button, which is located directly below your demo or live account. Additionally, you can select “Add Funds” from the “More” section of the IG mobile app. Depending on your country of residence and the associated IG entity that manages your account, IG offers a wide range of payment options, including bank wire transfers, debit card purchases, and third-party payment processors like PayPal and Wise.
Options for withdrawal
It’s as easy to withdraw money from your IG forex trading account as it is to make deposits. You can directly access your withdrawal options through the client portal.
Several noteworthy points regarding withdrawals : There may be minimal requirements for using debit or credit cards to make withdrawals of money, depending on the currency denomination of your account. This technique allows you to withdraw up to ,000 per day, and it may take two to five days to complete these transactions.
No withdrawal restrictions apply to bank wire transfers at IG. There are no restrictions on bank wire transfers. One to three business days are needed to process these transactions.
Minimum Deposit
£250
Average Spread EUR/USD – Standard
0.98
All-in Cost EUR/USD – Active
0.82
ACH or SEPA Transfers
Yes
PayPal (Deposit/Withdraw)
Yes
Skrill (Deposit/Withdraw
No
Visa/Mastercard (Credit/Debit)
Yes
Bank Wire (Deposit/Withdraw)
Yes
Trading apps for mobile devices
Competing with the best in the business, IG Trading, the company’s mobile app, won our 2024 Annual Award for #1 Mobile App. It has a ton of features that will appeal to both novice and experienced traders. Because of the wide variety of features that are offered, I think that the charts on the IG app are my favorite of all the brokers.
Overview of apps: IG provides two trading apps: its own flagship mobile app, IG Trading (commonly known as IG Forex), and the well-liked MetaTrader 4 (MT4) app. Additionally, there are two apps: IG Access for account security and IG Academy for instruction; however, neither of them allows trading. The IG Trading app boasts an elegant appearance and a ton of features, including extremely sophisticated charts, sentiment readings, and notifications. News headlines from Reuters, Autochartist signals, and PIA First are used in the research process.
Usability: The IG mobile app strikes a good balance between usability and the breadth of functions it offers. With IG’s app, navigating through integrated news headlines from Reuters or transitioning to trading signals and market analysis is a breeze.
The only negative is that IG’s extensive product catalog is harder to navigate without pre-made watchlists or screeners. Nonetheless, charts function flawlessly on mobile devices and synchronize with the online platform. For instance, charts on the mobile app can use a chart template that is kept online.While watchlists can sync, it’s important to note that trend lines do not, unlike on SaxoTraderGO from Saxo. Nevertheless, the IG mobile app has many positive aspects.
Charting: IG’s mobile app is loaded with 30 technical indicators, 20 drawing tools, and 16 selectable time frames across five distinct chart types – including tick charts. Setting up charts is easy, and zooming in and out across time frames feels quick and precise. Chart indicators added on the web platform won’t automatically sync with the mobile app (although they can be saved as presets). Still, it was an absolute pleasure to use IG Mobile’s charts.
Android App
Yes
Apple iOS App
Yes
Mobile Alerts
Yes
Watchlists
5
Watchlist Syncing
Yes
Charting – Indicators / Studies
33
Charting – Drawing Tools
20
Mobile Charting – Draw Trend lines
Yes
Mobile Charting – Multiple Time Frames
Yes
Trading Platforms
IG provides multiple trading platforms to cater to different trader preferences and needs:
IG Trading Platform: Their proprietary web-based platform is user-friendly and offers advanced charting tools, technical analysis indicators, and customizable layouts.
MetaTrader 4 (MT4): A widely-used platform known for its comprehensive charting and analytical tools, automated trading capabilities, and a vast library of plugins and Expert Advisors (EAs).
MetaTrader 5 (MT5): The successor to MT4, offering additional features like more order types, economic calendar integration, and improved back-testing functionalities.
ProRealTime charts: ProRealTime – a third-party platform exclusively offered by IG in the U.K. – offers advanced charting with nearly 100 indicators and support for automated strategies. ProRealTime costs £30 per month unless you make at least four trades during each calendar period. While the ProRealTime layout is highly customizable, my testing left me thinking it could use a modern upgrade. For example, floating windows can get messy and are inferior to modern snap grid layouts. That said, its charts were an absolute pleasure to use, and I appreciated the automatic coloring of studies, which made them easier to view when adding multiple indicators.
Trading Signals: Traders who want to use forex signals will appreciate that PIA First and Autochartist are directly integrated within IG’s web platform. One thing I appreciate about IG’s integration of trading signals is the ability to copy a trading signal directly into a trade ticket. Learn more about forex signals by checking out our guide to the best forex trading signal providers.
Virtual Trading (Demo)
Yes
Proprietary Platform
Yes
Desktop Platform (Windows)
Yes
Web Platform
Yes
Social Trading / Copy Trading
No
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
DupliTrade
No
ZuluTrade
No
Charting – Indicators / Studies
33
Charting – Drawing Tools
20
Charting – Trade From Chart
Yes
Watchlists
5
Concluding remarks
IG is a great option for retail FX and CFD traders who seek a reliable broker with excellent tools, research, and access to almost every worldwide market (over 19,500 tradeable assets). In 2024, IG broker won Best in Class in a number of categories, including Professional Trading, Commissions and Fees, Platform and Tools, Offering of Investments, and Beginners. It also took first place in Mobile Trading Apps, Education, Research, Trust Score, and Overall. Additionally, IG took up the top three awards for Web Platform, Forex Options, and Mobile App (IG Trading). In summary, my best choice for 2024 is IG
With IG, is my money secure?
It’s true that IG has more regulatory licenses than any other online broker dealing in CFDs and forex. Because of its many years in business, solid reputation, and need to be a publicly traded firm, IG broker is trusted to handle customer assets, including cash. According to its most recent annual report for 2023, IG services over 190,000 active clients and holds your money across multiple institutions. Utilizing a broker with adequate capitalization is crucial to minimize counterparty risk, and IG is a secure option due to its market capitalization of more than 2.94 billion pounds (as of January, 2024).
What is the IG trading minimum deposit?
It’s true that IG has more regulatory licenses than any other online broker dealing in CFDs and forex. Because of its many years in business, solid reputation, and need to be a publicly traded firm, IG is trusted to handle customer assets, including cash. According to its most recent annual report for 2023, IG services over 190,000 active clients and holds your money across multiple institutions. Utilizing a broker with adequate capitalization is crucial to minimize counterparty risk, and IG is a secure option due to its market capitalization of more than 2.94 billion pounds (as of January, 2024).