IG was founded in 1974 and it has evolved to become one of the world’s leading online brokers for spread betting and CFD trading, offering trading in a variety of asset classes such as indices, currencies, shares, commodities, and more.
With 14 sales offices spread across five continents, traders may also utilise IG’s investments service to buy and sell shares and ETFs in a more conventional sense, or choose a wealth portfolio that they can manage on your behalf.
Traders may also be confident that your trading balance is maintained in segregated client bank (independent trust) accounts at licenced banks and that your money and assets are never mixed with IG’s own money or assets, as it is authorised and regulated by the Financial Conduct Authority. IG also does not utilise your funds or assets for commercial purposes, such as hedging transactions with other counterparties or as margin for its own hedging trades.
Broker Review Contents
- Established in 1974
- Used by 178,000+ traders
- Min. deposit from $250
- Regulated by Financial Conduct Authority and ASI
- Limited range of instruments
- Inactivity Fee
A minimum deposit of $250 is required to create a live account. Alternatively, IG provides a demo account that you may use to experiment and become acquainted with their platform.
The Financial Conduct Authority, UK (FRN: 195355), ASIC (AFSL #220440), FMA in New Zealand (FSP 18923), and Financial Services Provider #41393 in South Africa all regulate the company. IG keeps every customer funds in a separate bank account and works with tier-1 institutions to do so. IG was founded in 1974 and has its headquarters in the United Kingdom.
Before we get into the specifics of IG’s spreads, fees, platforms, and trading tools, you might want to open IG’s website in a new tab by clicking the button below.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are IG’s spreads & fees?
IG, like most brokers, charges a fee on the spread, which is the difference between both instrument’s buy and sell price.
The commissions and spreads shown here are based on the IG webpage minimum spreads.
|EUR/USD(Average: 0.7 pips)||0.6 pips||0.7 pips||1.0 pips|
|GBP/USD(Average: 1.1 pips)||0.9 pips||1.7 pips||0.9 pips|
|USD/JPY(Average: 1.1 pips)||0.7 pips||0.6 pips||1.1 pips|
|AUD/USD(Average: 0.8 pips)||0.6 pips||0.6 pips||1.2 pips|
|USD/CHF(Average: 2.3 pips)||1.5 pips||2.3 pips||1.1 pips|
|USD/CAD(Average: 2.9 pips)||1.7 pips||0.5 pips||0.9 pips|
|NZD/USD(Average: 3.6 pips)||2.0 pips||2.8 pips||2.3 pips|
|EUR/GBP(Average: 2.4 pips)||0.9 pips||0.5 pips||1.3 pips|
Spreads are changeable and are provided solely for research reasons.
As you can see, IG’s minimum spread for trading EUR/USD is 0.6 pips – a modest spread when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with IG and other firms.
How much does it cost to trade 1 lot of EUR/USD with IG?
If you bought one standard lot of EUR/USD (100,000 units) with IG at 1.1719 and then sold it the next day at the same price, you would most likely pay $15.1. Here’s a quick summary of the costs and how they compare to XTB and AvaTrade.
|Spread from:||$ 6.00||$ 2.00||$ 7.00|
|Total cost of a 100k trade:||$ 6.00||$ 2.00||$ 7.00|
|$4 less||$1 more|
|VISIT IG||VISIT XTB||VISIT AVATRADE|
All fees/prices are for informational purposes and are subject to change.
What can you trade with IG?
IG provides approximately 10,000 different trading products, including more than 90 currency pairings. We’ve outlined all of the numerous types of instruments offered by IG below, along with XTB and AvaTrade’s instruments for comparison.
|FX / Currencies||IG||XTB||AvaTrade|
|# of forex pairs offered||90||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||34||21||16|
|Index & Stock CFDs||IG||XTB||AvaTrade|
|# of stocks offered||8000||1606||99|
|SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS||SEE AVATRADE’S INSTRUMENTS|
What’s the IG trading experience like?
1) Platforms and apps
The popular MT4 forex trading platform is available from IG. See our MT4 broker comparison for a list of the best MT4 brokers. IG also provides its own ProRealTime & L2 Dealer platforms. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
IG now has mobile apps for Android and iOS, making it simpler to monitor and execute trades while on the go.
Open a practise account and begin learning to trade.
2) Executing Trades
IG enables you to execute a transaction for as little as £1. This may differ based on the type of account you create. IG also allows you to conduct a maximum Variable trade.
IG also allows you to conduct a maximum Variable trade. Because IG provides STP execution, you may anticipate narrower spreads and greater transparency in the price you pay to execute your trades.
As an added benefit, IG is one of the few brokers who put out no requotes, so you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most popular financing sources.
- Offers STP
- Low min deposit
- Allows scalping
- Allows hedging
- Guaranteed stop loss
- Standard account
- Demo account
- Mini account
- Credit cards
- Bank Transfer
3) Client support
English, French, German, Spanish, and Portuguese are just a few of the languages supported by IG.
Because they provide a wide choice of languages and support options, IG gets a CompareBroker triple AAA support score.
4) What you’ll need to open an account with IG
Because IG is regulated by the Financial Conduct Authority and ASIC, every new customer must complete a few simple security audits to verify that you know the implications of trading and that you are eligible to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to complete a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse IG’s platform right immediately, it’s essential to know that you won’t be allowed to trade until you pass compliance, which might take several days depending on your circumstances.
79% of retail investor accounts lose money when trading CFDs with this provider.