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IG.COM review - one of the oldest Forex brokers
IG Markets is an authorized financial services provider regulated in South Africa. IG South Africa is part of IG Group Holdings Plc, a member of the FTSE 250, which already had a market capitalization of over £3.1 billion in 2018.
IG Group gives traders access to thousands of financial markets. The group was founded in 1974. It has been at the forefront of the industry, offering respected and award-winning platforms and services.
IG Group is listed on the London Stock Exchange and provides regular financial reports. They now serve customers worldwide with sales offices in 14 countries on five continents.
|Regulation and jurisdiction
Institutional focus, ability to use trading leverage, minimum deposit from $200
- Wide selection of tools
- Leverage 1:30
- High commissions
- problems with requotes
USD, EUR, GBP
Bank transfer, card
From 0.6 points
Currencies, options, CFDs
|Margin Call/Stop out
The UK-based IG Group was founded in 1974 to provide traders access to the financial markets. The purpose is to carry out trading operations with spread bets and CFD contracts. IG Group is one of the leading online trading companies listed on the LSE and in the FTSE 250 index.
Awards and recognition
In the world of forex brokerage, it is not easy to win awards from respected organizations or publications, but this can significantly affect the company’s reputation.
Over the years of working with traders, IG Group has managed to collect the following awards:
- At the monthly annual Stockbroker Awards Business Day Investors in 2012 and 2013, IG was recognized as the Best OS CFD Provider, the Best Platform for Active Day Traders in 2013 and 2014, and the Best OS Online Broker in 2015 and 2017.
- Thanks to regulation by the Financial Conduct Authority and the Australian Securities and Investment Commission, it won the “Broker of the Year” (UK Forex Awards) in 2018. And “Best CFD Provider” (Investment and Wealth Management Awards) in 2017, IG Markets is an attractive and safe choice for both beginners and experienced traders.
IG Group Accounts
An ig.com forex account is a trading account owned by a trader with one of the companies, such as IG Group, primarily dedicated to currency trading.
Generally, the number and types of accounts that a trader can open with a brokerage company differ depending on where the broker operates, the trader’s country of residence, and the regulatory authorities under its jurisdiction.
Account types and their features
IG Group only offers two types of trading accounts and a demo account.
The Standard account is for retail day traders, while the optional premium accounts are for high net worth traders. The Special Professional Account requires specific criteria for experience and trading capital. It allows for higher leverage levels in exchange for less regulatory protection.
On standard accounts, the minimum amount to trade is $1.
Experienced traders can open a DTP account, which allows them to trade Depth of Market with the help of algorithms and get the opportunity to participate in pre-market and post-market auctions.
Deposit and withdrawal of funds
IG offers free and fast deposits and withdrawals. Depositing with IG is easy as traders can deposit using credit cards (VISA, MasterCard, debit) and bank transfers. Traders can choose from six base currencies available: USD, GBP, AUD, EUR, SGD, or HKD.
IG restricts traders from withdrawing funds via internet banking or credit/debit cards. If all the necessary documentation is submitted when submitting a request, withdrawal requests are processed promptly. You can only withdraw money to accounts in your name.
Costs and fees, commissions and spreads
Trading costs depend on various factors such as commissions, spread, and margin.
The spread of a currency pair is the difference between the asking price and the buy order price. A pip represents the smallest increase that can change the exchange rate. One pip for currency pairs with JPY as the currency unit is 0.01 and 0.0001 for all other teams.
Margin is the amount of money you need in your account to open a position. Margin is calculated based on the current price of the base currency against the US dollar, position size (volume), and leverage applied to your trading account.
Commissions are fees charged by an investment broker to a trader for making trades on their behalf. The commissions between different brokers will vary and depend on the asset sold and the type of service the broker offers.
Contracts for Difference (CFD) trading, a popular form of derivatives trading that allows traders to speculate on rising or falling prices of rapidly changing global financial markets, a commission will be charged.
Trades with CFDs on other markets have no commission. Still, they include a spread around the market price of a particular instrument.
Opening an account is free, and other IG fees are competitive.
When trading with leveraged capital, there is only one direct commission to consider: the spread or commission in the case of CFDs on shares. Spread fees apply to CFD trades on all markets except claims and vary depending on market conditions. In most cases, IG charges its spread on top of the market as a commission per trade.
Overnight Funding is paid for keeping daily bets or cash CFD trades open after 22:00 UK time.
Funds that allow a trader to have a much broader impact on the market than the amount they invested in opening a trade are called debt capital. Such borrowed funds increase the potential profit of the trader but, of course, also increase the risk of possible losses.
The amount of borrowed capital is expressed as a ratio, for example, 50:1, 100:1, or 500:1. If we assume that a trader has $1,000 in his trading account and trades 500,000 USD/JPY, then the leverage will be equal to 500:1.
IG Group offers a relatively low leverage of 50:1. However, you cannot change the default leverage level for products, which is an essential factor.
IG’s proposed maximum leverage ratio is 1:200.
Forex brokers tend to attract new traders with attractive ig.com deposit bonus offers. It can be helpful, but it’s essential to understand the correct ig.com bonus.
Such a bonus is just a way to compensate traders for choosing a certain broker since after opening an account, the trader will have the exact costs as any other.
The ig.com bonus is just a reward for choosing a trader, which returns a part of his expenses as soon as he proves himself to be an active trader.
In addition, as of August 1, 2018, the European Securities and Markets Authority (ESMA) has taken measures to protect investors when marketing, distributing, or selling CFDs to retail clients.
It prevents brokers from directly or indirectly providing a payment, monetary or excluded non-monetary benefit to a retail client with the marketing, distribution, or sale of CFDs, other than realized profits on any CFD provided.
Trading platforms, software, and their features
The Forex trading software a brokerage company provides to its clients is a platform used to carry out their trades.
The platform can be a mixed investment, which allows clients to trade not only in the Forex market but also in other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.
Deciding which platform to choose will depend on what the client would like to trade, which will also be one of the criteria for selecting a broker.
The IG trading platform offers a fast, clean and innovative way to trade through a web browser that quickly opens, closes, and edits individual and aggregate positions, splits charts to view the same market in multiple time frames at the same time, customizes workspaces, has intelligent settings, which remember trade sizes, end values, and more.
Your ig.com login is completely safe.
The platform supports Google Chrome, Mozilla Firefox, Microsoft Edge, Internet Explorer 11, and Safari (Mac only). You can download the ig.com mobile application and use it to trade wherever and whenever you want.
MetaTrader 4, another advanced trading platform from IG, provides access to various tools and features to help the trader analyze and set up trading conditions. Its tools can also help you create and use trading algorithms to automate further trading. Also, there is a great opportunity for ig.com weekend trading.
Markets, products, and tools
Most brokers offer some or all of the following types of market instruments for trading:
Forex trading, or foreign exchange trading, includes the foreign exchange market where individuals, companies, and financial institutions exchange currencies at floating rates.
Like the foreign exchange markets, the commodity markets offer various investment opportunities for traders. Investing in tradable goods based on contracts is a reliable way to reduce risk during periods of inflation or economic uncertainty.
Equity stock indexes or stock indexes are actual stock market indices that measure the value of a specific section of the stock market. They may represent a particular set of the largest companies in the country or a specific stock market.
Trading in gold and other precious metals includes products of the extractive industry, which are the subject of trade on a contract basis.
High fluctuations in energy prices due to political and environmental factors, supply and demand, extreme weather conditions, and global economic growth are typical characteristics of this product. They make it another popular choice for trading.
- Bitcoin (BTC) is the digital currency with the largest market cap and price level since its inception in 2008. It dominates 50% of the total cryptocurrency market capitalization.
- Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability. Litecoin is another very popular altcoin. LTCUSD is a bitcoin (BTCUSD) fork copied from bitcoin code with some changes and launched as a new project.
- Ripple (RPL) is popular among significant banks with the Ripple network, the next-generation real-time settlement system. Allows instant cross-border fund transactions at a meager cost.
- Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers on the platform to create smart contracts.
- Bitcoin Cash (BCH) was created in 2017 as a hard fork of Bitcoin, a new blockchain version with different rules.
IG Group offers traders the world’s major stock indices. The South African Resources Index (RESI) and the South African Financial Index (FINI) allow you to trade CFDs on South Africa’s most extensive financial and resource stocks with a single instrument.
Traders can trade over 12,000 international stocks with 24/7 prices in 26 markets.
IG offers commodities with an unlimited expiration date, giving you a cost-effective overview of key commodity markets in the short term. The new offer works the same way as CFDs on indices or a daily funding bet.
Clients can trade eight cryptocurrencies such as Bitcoin, Ether, Litecoin, Ripple, Bitcoin Cash, Stellar (XLM), NEO, and Bitcoin Gold without becoming an owner of the underlying asset or gaining greater exposure to a single trade with the IG Crypto 10 Index.
Futures are a type of derivative contract that provides the right to buy or sell a specific asset or security at an agreed price at a specific time. The emergence of futures was the result of the development of global financial markets and satisfaction of the needs of their participants in risk minimization, investment activities, as well as speculative trading.
Ig.com weekend futures are a great opportunity for traders but it carries some risk that needs to be taken seriously.
Safety and regulation
A potential trader should first decide how safe it is to trade with a broker like IG Group. One of the most reliable criteria for measuring a brokerage firm’s safety is establishing which regulators oversee its activities.
IG Group is considered safe due to its listing on the stock exchange, the availability of its financials, and the oversight of top-level regulators such as the UK Financial Conduct Authority and the SA Financial Conduct Authority.
As part of their commitment to the financial benefit of clients, they have signed the Global Code of Conduct for the Foreign Exchange Market, which establishes a standard set of guidelines for good market conditions.
Potential traders need to be sure that the brokerage company they choose will be able to provide the support and assistance they need when they need it.
IG has a dedicated team that provides traders personalized service and advice to ensure they feel comfortable with the company’s products during their first trade.
In the future, as needed, a trader can receive ongoing support in trading and using the platform from a large, highly qualified team of trading services.
Traders can get this help 24 hours a day, from Saturday 06:00 to Friday 22:00 via phone, email, Twitter, or live chat.
Traders can also benefit from sharing knowledge with the IG community in the online IG customer space, where everyone can connect with the team.
The trading discussion forum offers strategy discussions and trading advice; traders and staff can answer questions and introduce new products to clients.
Potential traders should always do as much research as possible on speculative trading before embarking on a trade.
Confident and booming trading relies heavily on knowledge and understanding of the markets. Brokers’ research options are integral when choosing the right company to trade with.
IG provides comprehensive research and education through IG Analysis and Education links. IG Analysis includes well-organized news, analysis, financial calendar, market data, screener, and a week ahead review.
The search function picks up a lot of helpful material with some topic coverage. IG Academy also helps trade and expand knowledge through free courses, webinars, and seminars.
Education and training
Before trading, potential IG Group clients should be familiar with all the information and trading skills necessary to succeed in the world of Forex and Commodities trading.
Suppose the IG Group website does not provide sufficient resources. In that case, the trader should explore other information sources and resources to gain these skills and knowledge.
In addition to the free ig.com demo account, IG offers comprehensive training through the IG Academy, where potential traders can develop their skills. They can choose from a wide range of courses and webinars and enjoy interactive learning with infographics, video explanations, and quizzes at the end of the system.
The webinars and seminars are offered by market experts and cover everything from identifying opportunities to using the platform.
IG Group Reviews
There are many positive ig.com reviews on reliable resources. There are some negative reviews, but they are more about successful trading operations and not about broker problems.
IG GROUP warns all potential traders that Forex and CFD trading always carries a high level of risk and is not suitable for all investors.
Before clients decide to trade products offered by IG GROUP, they are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
According to a recent study in South Africa, potential traders should first familiarize themselves with all the risks associated with trading on margin and, if in any doubt, seek the advice of an independent financial advisor.
It is a reliable and proven broker with a good rating and a long positive history.
According to a recent study, IG Group is one of the largest and most trusted CFD brokers. It is regulated by several financial authorities worldwide. The parent company IG Group is listed on the London Stock Exchange. IG has one of the best web trading platforms with good deposit and withdrawal conditions. Potential traders can also educate themselves with various suitable educational tools and materials.
Disadvantages include relatively high CFD commissions on stocks and a portfolio of products that, in most countries, are limited to currencies, CFDs, and options.
Potential traders can confidently test IG’s top-notch trading platform, as there is no minimum funding requirement for bank transfers. The company can easily open an ig.com demo account before trying out a live account.
IG Markets is one of the top-rated brokers with Ig.com Forex trading account. The spreads are tight, and the educational and analytical material is excellent.
IG provides a wide range of platforms (including MT4) and good customer service.
Ready to start investing? Open an account with a proven broker with the best conditions and favorable bonuses
The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about IG are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.
To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.
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