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IG Review & Rating [yyyy]

IG Review & Rating 2022

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We will dive deep into this IG review and assess how well the IG platform functions in its role as an international multiple financial asset trading platform.

This review of the IG platform is very detailed. Trading costs such as spreads, commissions, and swaps vary depending on the account type and the trading platform being used which are discussed in detail further down this review of IG.com.

If you are interested in trading with Forex.com in any capacity please take the time to read and research the whole IG review.

With this IG broker review we hope to help you see if this platform is a good fit for you.

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Overview

Company
9/10
Trust
9/10
Trading Platform
9/10
Account Types
8/10
Costs
8/10
Customer Support
8/10
Regulation
9/10
Cryptocurrency
7/10

Company

9 /10

IG.com is a London-based broker and is part of the IG Holdings group, which has been present globally since 1974.

Founded by Stuart Wheeler, the broker's goal - achieved - is to provide all interested investors with an innovative way for retail investors to speculate on the price of various assets. And so, since 2003, IG  has gradually followed a path of international development, which has allowed the broker to currently boast offices in 16 countries, and over 140,000 active customers all over the world.

In short, when we talk about IG.com, we are talking about an online broker that is:

  • part of a group that has been operating on the international market for over 45 years;
  • authorized and regulated by some of the best known financial supervisory authorities in the world;
  • legally authorized to operate in our country with all its services.

It is also important to mention that the IG group is listed on the London Stock Exchange, and is part of the FTSE 250 market index.

All this information leads one to conclude that IG.com broker is absolutely trustworthy and ideal for beginners and advanced traders alike.

Pros and cons

  • Well regulated
  • IG charges no deposit fees
  • IG Academy is dedicated to assisting new traders
  • Trade over 80 currency pairs with lower spreads
  • Thousands of trading instruments
  • Impressive desktop platform

Trust

9 /10

Is IG Trading legit? Yes, IG Trading is a fully legit. IG relies on leading banking institutions, including  Lloyds in London and  Unicredit in Italy, making sure clients' funds are spread across different bank accounts. Selected banks are subject to a thorough creditworthiness assessment and all institutions are subject to half-yearly reviews.

IG, therefore, operates according to very strict rules and is by far one of the safest and most reliable that we have had the opportunity to test.

Cross-checking the most popular online forums and discussion groups, we found mostly positive IG opinions, with particular mention of the good quality of the training and the completeness of the trading tools.

The negative comments instead refer for the most part to complexity of orientation especially for beginners, in fact, the vastness of the features and markets present on IG, could confuse those who are starting to take their first steps in the world of Forex trading.

Trading Platform

9 /10

IG offers 5 different types of trading platforms, all giving access to over 17,000 markets and providing a wide range of functionalities and features. Let's see them briefly in this IG.com review.

IG Trading

It is an ideal web platform for trading from any computer, it has the advantage of being able to be used directly from your browser but the disadvantage of being a very basic trading platform, given the absence of the costs necessary to open a position and the margin of maintenance necessary.

Finally, this IG trading platform offers the classic trading indicators to carry out your own technical analysis and implement your trading strategies. For a casual operation, it can be a comfortable choice, but for those with a minimum of requirements, it is not in our opinion the most ideal choice.

App IG Trading

It is the platform for smartphones and tablets, to operate in total mobility from your mobile device.

It is a very basic platform, mainly useful for monitoring one's positions, it does not offer any info in the graph regarding costs to operate or maintenance margin, or financial leverage used. Without getting informed in advance, there is, therefore, a risk of operating in the dark.

L2Dealer

It is a DMA trading platform that gives direct access to the markets and MTF, designed specifically for traders who operate on the stock market, allows you to trade CFDs on shares in a professional manner.

The trading platform is free, but access to the markets has a variable cost that depends on the selection of instruments.

ProRealTime

It is the broker's most comprehensive professional trading platform offering advanced monitoring and analysis tools, perfect for seasoned traders using complex charts. It is free for the first month for retail clients and for 3 months for professionals, after which it has a fixed cost of $30 per month, or it remains free for at least 4 trades per month.

MetaTrader 4

MT4 is the standard trading platform available on all online brokers, and has as its main feature an advanced customization option, even if it remains slightly difficult for those approaching the world of online trading for the first time.

Mobile Trading Platform

IG Mobile trading platform

The mobile trader is a necessary part of the modern trader as well, and IG integrates its platform feature into great Mobile Application where both Android and iOS devices are supported.

Account Types

8 /10

What type of IG account can I open? IG Markets offers 3 types of accounts: standard, premium, and corporate, and a minimum initial deposit of $300 is required.

The  Standard Account, dedicated to most traders, has no activation, maintenance and closure costs and offers full access to platforms, tools and assistance.

The  Premium Account is designed for customers with higher volumes of trading and offers several advantages, This IG trading account is a dedicated account manager, exclusive reports on the markets, private coaching on the use of the platform and strategies and invitations to major sporting, cultural and financial events.

Besides these trading accounts, this Forex broker also offers a specific solution for corporate and institutional clients, offering customized services for different types of organizations. With the  Company Account, you are entitled to numerous benefits, extensive and advanced trading features, much more competitive prices, and favorable conditions.

The 3 types of accounts offer different trading conditions, optimized for each specific investor profile, but all provide 24/24 assistance and access to all the training material, the real strength and distinction of IG. More specific information is however present in detail on the broker's official website.

The maximum leverage is 1:30 for retail clients and 1: 222 for professional clients. When it comes to trading CFDs, the broker charges a spread for all non-equity CFDs and a commission for equity CFDs.

Spreads are applied on the basis of market prices and start from a minimum of 0.6 pips in forex, 0.8 pips on indices and 0.3 on commodities.

In share CFDs, a trading commission is applied that varies according to the market. On shares of the US Stock Exchange it is 2 cents + a minimum commission of $15.

There are commissions on overnight positions kept open after 11pm CET and which are calculated on the basis of the interbank rate at a reference month, and an inactivity fee of $14 which is debited on the first of each month on accounts inactive for over 2 years.

From the point of view of trading commissions,  IG.com is therefore very competitive, and by increasing trading volumes, more advantageous conditions can be obtained.

Demo account

Unlike some forex brokers, IG broker provides the opportunity to practice and test the platform with a  free and unlimited demo account of $30,000 in virtual money. The demo trading account does not have an expiration date and can be used at any time before and after opening a real account, if we want to test new strategies, for example.

Margin call - margin requirements

Traders are required to always maintain an available margin, when the available balance on the account falls below the required margin requirement, IG Markets generates a  Margin Call .

The margin rate on IG Markets is calculated on the basis of the total open positions. It must be remembered that there are two types of margin to take into consideration: the  Initial Margin, which is the amount required to open a position, and the  Maintenance Margin, the amount that the broker can ask if the market moves against us to ensure that we have sufficient funds.

In the presence of a Margin Call, there are two options available: to make a deposit to cover the margin requirement, or to close the positions. If the balance falls below 50% of the margin requirement the positions are closed automatically. This is also the case if you remain in margin call for 24 hours, there is a margin call during the weekend, or during or before periods of high volatility.

The margin requirements are subject to change and IG broker claims to take active steps to inform customers on time.

Deposits, withdrawals, and commissions

The first payment for the initial opening of the account must be made by bank transfer, while subsequent payments can be made by credit card (Visa, Maestro or Mastercard), Paypal or bank transfer, and may be subject to a commission applied by the card issuer (if applicable). For withdrawals by credit card the maximum daily amount is $25,000, with Paypal $7,000, while with bank transfer there are no limits on the amount.

IG.com, therefore, does not apply fees on deposits and withdrawals but any additional costs may be applied by your bank.

Regarding commissions, as mentioned above, the broker charges a spread for all non-equity CFDs and a commission for equity CFDs, commissions on overnight positions held open after 11pm CET and an inactivity fee of $14 charged on the first of every month on accounts that have been inactive for over 2 years.

Cryptocurrency

7 /10

IG.com offers clients the opportunity to trade cryptocurrencies. Take your position on the price of eight major cryptocurrencies including Bitcoin and Ether.

Cryptocurrencies you can trade with IG

You can trade cryptocurrencies with IG using CFDs. CFDs, or contract for difference, allow you to speculate on the price of cryptocurrencies without having to take ownership of the underlying assets. With CFDs you can trade over 17,000 markets on leverage through all our available platforms including web, mobile, and MT4.

Costs

8 /10

In addition to the minimum deposit of $300, there are other trading fees and commissions on IG Trading. Let's see specifically what they are and how much the Trader who intends to use IG as a forex broker for his investments will have to foresee.

IG fees vary according to the instrument you intend to invest in. For example, if you are thinking of investing in Indices, you must expect a spread that varies from 1% to 1.8%.

If, on the other hand, you plan to use IG to invest on the stock market then you will have to pay commission fees for the trading you intend to carry out, as well as an additional cost for the overnight mode (closed market).

Customer Support

8 /10

Having tested it directly, we can only be quite satisfied with IG's extensive help and support page, which also lists a wide range of help topics and questions and answers on the most frequent topics.

Highly, their customer support is available 24/7 via chat, email and phone. You can also access the support via Facebook and Twitter, with an expansion of the channels that can be used to get the assistance you want.

If you need assistance or want to know more about IG, you can of course contact its staff using the contact details found on the broker's website.

Even before that, however, we recommend that you access the "Help" section, where you can read the answers to the most frequently asked questions that the broker's clients have formulated.

If you have not found the feedback you were looking for, you can also access the "Contact us" section. Here:

  • if you are not a client of the broker you can still contact the commercial office, active from Monday to Friday from 9 to 19, to find out any information on the broker's products and services. The toll-free number responds to 800 897 582. There is also an e-mail address, which responds to [email protected]
  • if you are already a client of the broker, you can use - after being authenticated - both the chat service, to talk to an operator via chat, and the assistance and support, in a portal dedicated to you.

Regulation

9 /10

Is IG safe? We remind you in this IG review that this broker IG is regulated, which makes it a very safe broker (low risk) for forex and CFDs trading. IG is authorized to allow the trader to operate safely and avoid running into unpleasant economic scams that unfortunately are still hidden on the web today.

IG is authorized and regulated by the Commodity Futures Trading Commission (CFTC) in the US, Financial Conduct Authority (FCA) in the United Kingdom, by BaFin in Germany, by ASIC in Australia, UAE – Dubai Financial Services Authority (DFSA), Japanese Financial Services Authority (FSA) and by CONSOB in Italy.

IG offers "negative balance protection," which has become a fairly important feature that most online brokers are offering these days, for its U.K./E.U. clients.

Conclusion

At the end of this IG.com review, we can certainly say that it is worth investing in IG Trading, as a properly regulated broker, appreciated by traders and rich in experience.

The long history of IG, a trading pioneer, also includes several positive IG opinions that place it on the podium of online brokers.

Despite the limitations that we have been able to ascertain in the course of this IG review, this is a platform that is quite appreciated by traders.

Finally, IG is the world's No.1 provider of CFDs and spread betting and a global leader in forex. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading spread bets and CFDs with this provider†. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Reviewed By

Financial Market Analyst
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