IG Group Review – Online Platforms, Commission, Leverage, Account Types & more
This article marks every other aspect of IG Group.
You can use this article as a reference or material to study through the online platforms, commission, leverage, and account types, as provided by the forex broker.
Let’s get started.
About IG Group & Accepted Countries
IG Groups is a London-based broker company that came into the market in the year 1974. It is an award-winning company that is popular for its spread betting trading, CFD, and stockbroking.
The company has over 178,000 clients across the five continents, an extensive product catalog, longstanding business operations, and an excellent industry reputation.
Therefore, it is not surprising that the company is a global leader in the online trading sector and currently the world’s top CFD provider.
A lot of the most established online forex brokers tend to shy away from the US market, as in large part to regulatory requirements.
The fact that IG Group has re-entered that region in 2019 speaks to its commitment to becoming a truly global present brand and establishing its name in the history of online trading.
|Founder / CEO||John Stuart Wheeler|
It is one of the listed companies on the London stock exchange. Currently, the company has offices in 16 different countries.
The Forex Broker is accepted in countries like Australia, Thailand, United Kingdom, Hong Kong, Germany, Kuwait, United Arab Emirates, Norway, India, France, Sweden, South Africa, and many more countries.
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IG Group Trading Platforms
The IG Group provides its own trading platforms and also supports other third-party alternatives. There are various trading platforms under the broker.
The first one is the IG trading platform that we recognize for its features across the world. The platform allows CFDs and spread betting for the traders.
It is an easy-to-use software that allows a deep dive technical analysis, one-click trading, and provides various other risk management tools.
The traders can have features such as the Trading signals, economic calendar, IGTV, IG analyst articles, and streaming Reuters news.
The Pro real-time is charting software. It is suitable for all traders that want to test their strategies and improve their performance in trade.
The platform provides features like a customizable user interface, 100 volume indicators, etc. It also has backtesting with historical data of up to 30 years.
Therefore the users can use the algorithms with the tools and it provides automated trading. Lastly, the L2 Trader has direct trading access to the platform. It is free to download and use.
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||English|
Also, the trading platform allows access to features like price alerts and watch lists. It is provided with price improvement technology and direct chart trading.
IG Group Mobile App
The IG Group company offers an award-winning app called IG index. This app is accessible on both iOS as well as Android devices.
Complete trade management is possible through its app. It also provides its traders access to client sentiment indicators, 19 drawing tools, an economic calendar, and 30 technical tools.
The traders can also make their personalized watch lists and receive price alerts through SMS. The progressive web app by the broker is accessible through any device.
It allows an instant view of market prices and with guaranteed limits to manage the profit and losses. This web app is a great alternative to downloadable platforms.
Check out Mobile Apps of more Forex Brokers
IG Group Commission or Brokerage
A commission is applicable when one trades with CFDs in the IG Group trading platforms. There’s a commission for each share of CFD trade.
An average spread was 0.745 in dollars or euros on its trading platforms. It also provides a discount for their active traders and certain VIP clients.
The company also charges a premium for stopping losses when an order gets triggered and other third-party charges that are stated on the website.
The company charges a 12 dollar inactivity for traders that have no activity in their account for more than 24 months. And for wire withdrawals, they charge a fee of 15 dollars.
|Commission on trades||Yes|
IG Group Exposure or Leverage
The leverage and the spread are very competitive in the IG Group. Though, these may vary upon the type of asset that is chosen and the trading platforms.
The leverage is based on the indices, cryptocurrencies, shares, and forex. The forex ratio for traders is 1:50.
The website also has a margin calculator. The price varies in dollars and euros. It can be as low as 0.8 pips.
The non-United States traders have leverage as high as 700:1 for indices in line with other industrial standards.
The leverage has restrictions in the US according to the local law.
Payment Methods provided by IG Group
The process of deposit should be easy. Therefore the IG Group offers deposit payment by using credit or debit cards, PayPal, and bank wire transfers.
|Deposit Options||ACH, Credit Card, Wire Transfer|
|Withdrawal Options||ACH, Credit Card, Wire Transfer|
Bank wire transfers can take up to 3 days for processing for the deposit and the credit cards process almost immediately.
The minimum deposit required is 250 euros and the maximum deposit allowed in a day is 20 thousand euros. The withdrawals are made through bank transfers, Credit cards, and PayPal.
The withdrawal funds are navigated through live accounts and then one needs to select the withdraw option.
Withdrawals made by Paypal process instantly, while back transfers take place before midday or within 3 days depending upon the bank.
The minimum withdrawal should be 100 euros.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by IG Group
The investments may vary depending upon the IG Group’s company entity in a particular country.
The traders of countries like Japan, the United States, New Zealand need to choose an entity from their locality.
The forex broker allows investments like spot forex trading, cryptocurrency for CFD, Copy trading, 104 forex pairs, and 19537 CFDs.
It offers non-exchange traded securities for the UK, Germany, and Australia-based stock market traders.
|Total Tradable Assets||NA|
|Number Of Currency Pairs||81|
|Number Of Cryptocurrencies||NA|
|Number Of Stocks||NA|
|Number Of Indices||NA|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
IG Group Virtual Trading or Demo Account
The IG Group does offer a practice account in their trading platform. These demo accounts let the traders practice their strategies in simulated market conditions.
Once a trader logs into the demo account, they can trade in multiple markets like CFDs and forex. They receive 10 thousand euros of virtual cash for their trading.
IG Group Offers or Deals
IG Group offers industry-standard security protocols to keep their trader’s information safe, which includes a secure sockets layer of encryption.
There is also an option for two-factor authentication at their login stage. Combined with the robust regulatory oversight, makes it comfortable for traders that the forex broker is secure and trustworthy.
The IG Trading platforms have their own customer support systems that are available from 8 am GMT on Saturday to 10 pm GMT on a Friday.
They are available in multiple languages. The average connection time on customer support is about 1 minute.
The brand also provides a portal for their traders with videos and tutorials related to trading techniques.
They’re also an easy procedure for reporting any complaints to customer support.
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||No|
IG Group Regulation or Licensing
The regulations and the reputation of the IG Group are intact for decades. The company is licensed and regulated by the Financial Conduct Authority (FCA) of the United Kingdom.
Each regional office is licensed and registered by the country in which it resides.
For example, the forex brokers office in the US is fully compliant with the law and regulations in the United States.
The company has proven itself to be a top competitor for over 4 decades and shaping the world of online trading as one may know it today.
The broker has won numerous awards for its trading platforms and outstanding customer support, etc.
The IG Group’s trading analysts are regularly quoted in the news as they are a trusted source of trading market analysis.
Find out Regulations & Licensing of more Forex Brokers
IG Group Features
The traders on IG Group’s platforms can benefit from the in-house tools that include an economic calendar and video content.
Additionally, the company offers a customizable screener for the different assets and trading signals based on pattern recognition technology.
Overall, the traders have a wealth of learning resources from the trading platforms of the brand that help to increase their revenues and minimizing the losses.
The traders have an access to a comprehensive range of charts, market news, and analysis tools. Along with this, the traders have access to over 100 technical indicators.
There are over 17,000 assets to choose from which makes this brokerage company a great source for day traders that are just beginning or seasoned veterans in trade.
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||Yes|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
IG Group Account Types
There are two types of IG Group accounts. They are Demo Account and Trading accounts.
Demo Account: They offer a demo account using which users can learn and practice trading. This reduces the risk of loss or bankruptcy.
While creating the account, the user first creates a demo account and not a trading account.
After the demo account has been created, the user gets a certain amount of money using which they can learn.
Trading Account: Different types of retail trading accounts are provided by the company depending on the type of market one wants to trade in.
Besides, these retail trading accounts are CFD trading account to betting accounts. The minimum amount that one can trade is as low as $1.
|Account Type||CFD Trading Account|
IG Group Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||Dealing Desk|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
IG Group – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team :
|Daily Market Commentary||No|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
IG Group Benefits
There are various pros or benefits of trading with IG Group. They are:
Education: The forex broker offers various materials using which amateur traders can gain some knowledge about trading. This platform is an amazing broker for amateurs.
Trading Tools: When a user signs into this platform, they get access to various tools like charts, market news, and data and analysis tools.
Assets: There are various kinds of assets that this website provides. In total, the website also provides over 17000 assets which makes it the best website for amateurs.
IG Group Cons or Drawbacks
There are a few drawbacks of IG Group. They are:
- The trading fee is high for stock CFDs.
- In most of the country, the broker offers only CFD and options trading. This means that they have a limited product portfolio.
- They lag when it comes to customer support as compared to other similar websites. The customer support can be improved.
- Also, this forex broker does not provide live chat support because of which people have to wait for many days to get their problems fixed.
- They take inactivity charges as well.
IG Group Trading Hours
Trading hours for IG Index are 23:00 GMT Sunday (21:00 for forex) until 22:00 GMT on a Friday.
However, the platform follows the bank holidays of the UK and US so the trading hours are reduced there.
IG Group is not open on Christmas, New Year’s Day, and Easter Good Friday. In case any of the holidays fall on a Monday, they might be closed on the prior Sunday night.
Besides, in case there is any time change in the trading hours of the broker, users will be notified on the app itself.
IG Group Customer Care or Contact Details
IG Group customer care team is available from 08:00 GMT Saturday to 22:00 GMT Friday. The support is available in many languages for the benefit of the customers.
The contact number of the customer support team is 0800 195 3100. The email ID on which the users can reach them is firstname.lastname@example.org.
They also have their Twitter handle which is @IGClientHelp. Using the community portal, users get excellent customer service. Also, users can discuss and solve their issues with the team swiftly.
The head office is in London and the address is Cannon Bridge House, 25 Dowgate Hill, London, United Kingdom, EC4R 2YA.
|Support During Weekends||Yes|
|Live Chat Support||Yes|
|Customer Support Languages||English|
IG Group Safety and Security
The broker abides by the ‘FX Global Code of Conduct. This code of conduct establishes the same guidelines for every such market so that they can promote good practices.
IG Group guarantees the customers that they will never lose the money that they have invested here.
It also offers two-factor authentication and biometric authentication for the safety of the customers.
In case the customers have not logged in for days, they will be logged out of everywhere they were initially logged in to.
IG Group Rating & Review
Based on the user experience, the following rating and reviews are provided.
|User Experience||8.8 / 10|
|Products & Services||8.8 / 10|
|Brokerage Charges & Fees||8.1 / 10|
|Research & Advisory||8.6 / 10|
|Trading Platforms||8.1 / 10|
|Overall Ratings||8.5/ 10|
|Total Client Reviews||98|
IG Group Forex Trading – Conclusion or Verdict
IG Group proves to be the best not only for amateur traders but also for professionals. From providing competitive spreads to being an educational platform, the broker has been the best for all.
They also take full measures to protect their customers’ privacy and money. Overall, the brand has proved to be an excellent and reputable entity.
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