IG

Who is IG?

Founded in 1974 by Stuart Wheeler, IG serves over 178,000 clients across multiple countries and has a wide suite of products, competitive fees, business operations as well as an excellent market reputation. The broker is also ranked as the world’s top CFD provider, while it was also recognised by Investopedia as the Best Forex Broker for US Traders in 2020.

IG is authorised and regulated by the FCA in the UK and ASIC in Australia. It is also listed on the UK’s FTSE 250 and has signed up for the FX Global Code of Conduct, which involves a common set of guidelines for good practice in the markets.

Commissions and Fees

IG offers competitive fees, spreads and commissions. If clients trade CFDs there is a commission charged. In the UK website, there is also a premium charged for guaranteed stop loss orders that is valid only if that order is placed. Other extra charges are listed on the broker’s website.

The company also charges a minimum spread for the majors on IG’s US platforms which starts at 0.8 pips while the advertised average spread varies between 0.9 on EUR/USD, USD/JPY to 5.4 on GBP/CAD.

Clients will also be charged swap fees on positions that they hold overnight. Moreover, there is an inactivity fee of $12/month if clients have no trading activity for 24 months. Finally, there is a charge of $15 for wire withdrawals.

Trading Accounts

IG has built an outstanding catalogue of 17,000+ markets which clients can access with the spread betting account going long or short, and opening positions on margin. They also have the chance to trade futures and options too.

Traders can open a CFD account and trade on Forex, Indices, Shares, Commodities, Cryptocurrencies, Bonds, ETFs, Options, Industry sectors and Interest rates.

The share dealing account enables clients to buy and sell US shares without any commission and trade UK shares from £3 per trade. This account enables them to invest in over 12,000 shares, funds, and investment trusts, while there is a foreign exchange fee of 0.5%.

Lastly, there is a free demo account which traders can use to practise trading on the various assets.

Trading Platforms

IG offers a variety of platform choices such as the industry standard MetaTrader 4, along with ProRealTime, L2 Dealer and their very own IG trading platform.

Clients have the ability to download the IG trading app from the App Store or Google Play Store with full functionality on multiple devices, such as Apple iPhone, Apple iPad and Android tablets and phones.

Interestingly, IG has also made available their in-house web app (PWA), which provides clients with the ability to trade on any device, without having to visit a third-party app store.

Education and Research

IG offers superior educational tools and an extensive trader’s library which is specifically suitable for beginners who want to learn fast and for experienced traders who prefer advanced trading strategy articles. There is also a series of online webinars which cover topics regarding their best forex trading platform

or upcoming trading opportunities.

Clients can also access their material through the IG Academy mobile app. The broker also offers a live seminar section with an efficient search function and a comprehensive glossary as well.

Interestingly, IG has also made available their in-house web app (PWA), which provides clients with the ability to trade on any device, without having to visit a third-party app store.

Pros and Cons

Clients of IG can access an extensive range of offering including forex, shares, commodities, cryptos, bonds and more. The broker accepts US clients and provides up-to-date educational tools and resources.

However, IG does not offer guaranteed stop loss orders for US clients and does provide the copytrading option.

About IG

IG offers US clients leveraged access to over 80 currency pairs. The broker gives traders access to a well-organised and easily navigable website with advanced services, low fees, intuitive platform features, useful research tools and an unmatched dedication to client support.