IG Group is a company that has been around since 1974 when it was established in the UK. It is one of the largest CFD brokers on the planet, and it is known for its wide range of products, as well as its competitive fees and amazing reputation in the industry.
The broker grants access to over 17,000 financial markets and also has more than 240,000 traders in the entire world. From the moment you access their website, it is easy to see that it is well-organized, and all the fees and services are fully disclosed so you know what you’re getting into.
But while everything seems amazing at first, you still need to be cautious before signing up on any trading platform. There are probably many things you haven’t discovered about IG just yet, and if you want to be safe during your trades, you should know more about the security of the broker. That being said, in this IG review, you will learn more about IG and how safe it is for its customers.
Who Is IG for?
IG is amazing for beginner traders, mainly thanks to the fact that there is a demo account available, but also because there are numerous educational materials available for them. The educational tools are high-quality, allowing beginners to get the hang of this industry. They have the chance to turn into better traders with better knowledge and skills.
Then, IG is also great for people who want to trade CFDs. This applies to all global clients. When it comes to people in the U.S., though, the platform is for clients who wish to trade the Forex markets. Overall, the platform is favorable for all people, as the spread costs are low, and there is actionable research and lots of learning tools.
Things We Like
We like multiple things about IG. First of all, we like the fact that the customer service is available at all times for people who truly need it. Anyone can reach out to the staff whenever they encounter any issue.
Secondly, we love the amount of education there is on the website. Several materials and tools can help teach all beginners the basics of trading, but also help them become more skilled.
The web trading platform is amazing thanks to the great navigation and organization. Also, people who eventually become clients have a lot of deposit and withdrawal methods to choose from, which is a good thing. We also love the fact that the spreads are competitive, but also that there are a lot of products and tools for every trader. This variety is great for portfolio diversification.
Furthermore, people from the U.K. and E.U. have account protection, and that adds more security to their funds and personal information. This is a very important aspect.
Things We Don’t Like
Although there are lots of benefits that make this platform great, there are also some disadvantages. For instance, there are high fees for share-CFDs, and the customer service is pretty slow. Even though it is available at all times, some people have reported having to wait a very long time to get a response from the staff.
Another thing that was disappointing was the fact that clients from the U.S. do not get to enjoy the same account protection that U.K. and E.U. clients do. They are less protected and that can seriously make things riskier for them. There are also some features that are limited for clients from the U.S., which was again a very disappointing aspect.
The maximum leverage is also low, and that isn’t good news.
Pros / Cons
- Great deposit and withdrawal options
- First-class web trading platform
- Excellent educational tools
- Limited product portfolio
- Slow customer support
- High forex and stock CFD fees
Safety and Regulation
Safety is crucial when it comes to trading. So, let’s see how IG stands in terms of safety.
Who Is IG?
IG Group was founded by Stuart Wheeler in the U.K. back in 1974 and he intended to make it the first spread betting firm out there. The platform is part of IG Group Holdings Plc, and it has more than 250,000 clients in the entire world. It is considered one of the best CFD providers on the planet, and it is very popular with both beginners and advanced traders.
Is IG Regulated?
IG is regulated by some top-tier authorities such as the Financial Conduct Authority from the U.K. and the Federal Financial Supervisory Authority of Germany. Moreover, the broker is listed on the London Stock Exchange.
- IG Securities Limited – authorized by FSA (Japan)
- IG Limited – authorized by DIFC (Dubai) registration number (F001780)
- North American Derivatives Exchange Inc. (Nadex) – authorized by CFTC (US) as a regulated exchange
- IG Bank S.A – authorized by FINMA (Switzerland)
- IG Markets Limited – authorized by ASIC (Australia) ABN 84 099 019 851, AFSL 220440
- IG Index Ltd – authorized by FCA (UK) registration number 114059
- IG Markets Ltd – authorized by FCA (UK) registration number 195355
Is IG Safe or a Scam?
IG is safe, for the most part, thanks to the fact that it is regulated by multiple top-tier authorities. But that is not all. It offers account protection for clients in the E.U. and U.K., and that says a lot. It also has negative balance protection, and most clients belong to a top-tier financial authority. Moreover, the broker is listed on the stock exchange. So, it is safe to say it is not a scam.
One downside would be the fact that it does not have a banking license.
Countries It Accepts Clients from
IG accepts clients from multiple countries, some of them being the U.K., U.S., Romania, Italy, Germany, and Sweden.
Multiple awards were given to IG for the amazing services it has to offer to its users. Some of the awards it won include
- Best CFD Provider
- Best Stocks and Shares ISA Provider 2020
- #1 Overall Broker 2020, and the Best Finance App
- Best Multi-Platform Provider
- ADVFN in 2018, 2019, and 2020
Range of Offerings and Products
The cool thing about IG is that it has plenty of services and products to offer. It has Forex, CFDs, and options available for its users. There are 47 commodity CFDs, 10,500 stock CFDs, 205 currency pairs, 78 stock index CFDs, 1,900 ETF CFDs, 13 bond CFDs and 8 cryptos. As for real stocks and ETFs, there are about 2,000 ETFs and 8 stock markets.
Users from Europe can use maximum leverage of 1:30, whereas those outside Europe will be able to use up to 1:200.
IG offers MetaTrader 4, as well as an IG proprietary platform. You can trade on your browser or through a mobile application.
The web trading platform is very user-friendly and has a 2-step login, as well as a clear fee report. It is amazing for both beginner traders and professional ones. Also, the web platform looks amazing, which only makes it more appealing to all traders.
The mobile platform is outstanding as well. It is easy to use and has amazing functionalities overall. It has a good search function and a touch/face ID login. The mobile platform can be used either with the proprietary IG platform or the MT4 one.
When it comes to Desktop platforms, though, IG doesn’t have a desktop version with their proprietary platform, but you can get an MT4 desktop version. It has a nice design and functionality, and it is very similar to the web platform.
There are different account types that vary based on your country of residency. But overall, there is one basic account.
You can also get a demo account at the beginning when you want to test the waters before committing to IG.
Deposits and Withdrawals
Deposits can be done using various methods. You can use e-wallets, cards, and bank transfers. There are no fees either.
What Is IG Minimum Deposit?
For bank transfers, the minimum deposit is $0, whereas, for PayPal and cards, the minimum deposits are $300.
You can withdraw using the same methods like the ones available for deposits, free of charge.
When you refer friends on IG, you can get up to $10,000. Also, there is a three-tier volume-based rebate program where the lowest tier has a nominal $100 trading volume for a 5% cost reduction for trades.
Client Support and Education
In terms of education, IG shines. Besides the demo account, it also has lots of educational materials for its users. You gain access to live sessions, webinars, platform tutorial videos, and general educational videos, which can offer you useful information.
Verdict – Overall Rating
For the most part, IG is great and can serve both beginners and advanced traders amazingly. If you love CFD and Forex trading, you can surely benefit from IG’s platform.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
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There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
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