Regulated and trusted. Tested via live trading.
14,385 people chose this broker
Why choose IG
IG is a CFD and forex broker. It has a well-designed and user-friendly trading platform, many useful educational tools, and great funding and withdrawal options.
On the other hand, IG‘s trading fees are high for stock CFDs. The product portfolio is limited, as in most countries IG offers only CFD and options trading. Customer support could also be better.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Note that CFDs are banned in the US. US-based clients can only trade forex on IG.
✅ Pro | ❌ Cons |
❖ First-class web trading platform ❖ Superb educational tools ❖ Great deposit and withdrawal options | ❖ High stock CFD fees ❖ Limited product portfolio ❖ Slow customer support |
IG at a glance
🗺 Country of regulation | UK, EU, Switzerland, USA, Singapore, Japan, South Africa, UAE, Australia, New Zealand |
---|---|
🛡️ Negative balance protection | Yes |
💰 Apple CFD fee | $33.2 |
💰 S&P 500 CFD spread | 0.4 |
💰 Inactivity fee charged | Yes |
💰 Withdrawal fee | $0 |
💰 Minimum deposit | $0 |
💵 Available base currencies | USD, GBP, AUD, EUR, SGD, HKD |
💵 Conversion fee of deposits in non-base currency | 0.5% mark-up |
💳 Deposit with bank card | Available |
👛 With electronic wallet | Available |
🕖 Time to open an account | 1-3 days |
🎮 Demo account provided | Yes |
🛍️ Products offered | ETF, Forex, Options, CFD, Stocks in some countries, Robo-advisory in UK, IPOs |
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Fees
Score: 3.5/5
IG has low non-trading fees. Withdrawals are free of charge and the inactivity fee is charged only after 2 years. On the negative side, stock CFD fees are high.
✅ Pro | ❌ Cons |
❖ No withdrawal fee ❖ Inactivity fee charged only after 2 years | ❖ High stock CFD trading fees |
We compared IG‘s fees with two similar brokers we selected, eToro and XTB. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of IG alternatives.
Low FX fees
All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 0.6.
Broker | EURUSD spread | FX commission per lot |
---|---|---|
IG | 0.6 | No commission is charged |
eToro | 1.0 | No commission is charged |
XTB | 1.0 | No commission is charged |
Low index CFD fees
All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.4.
High stock CFD fees
The commission for stock CFD trading is the following: $0.02 per share; min $15.
Low inactivity fee, low withdrawal fee
IG charges no account, deposit, or withdrawal fees.There is an inactivity fee of $12 per month, but it is only charged after 2 years of inactivity. This fee, however, may be different based on the legal entity: for clients belonging to the Bermuda entity, for example, it is $18 per month after 2 years of inactivity.
Other commissions and fees
Low options fees: Trading US index options is charged as follows – $0.1 per contract.
Safety
IG is regulated by several financial authorities globally, including top-tier regulators like the FCA in the United Kingdom. IG Group, the parent company of IG, is listed on the London Stock Exchange.
✅ Pro | ❌ Cons |
❖ Majority of clients belong to a top-tier financial authority ❖ Listed on stock exchange ❖ Negative balance protection | ❖ Does not hold a banking license |
Is IG regulated?
Yes, it is regulated by several financial authorities globally, including top-tier ones. Here is the full list:
- UK – Financial Conduct Authority (FCA)
- Germany – Federal Financial Supervisory Authority (BaFin)
- Switzerland – Swiss Financial Market Supervisory Authority (FINMA)
- USA – Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)
- Australia – Australian Securities and Investment Commission (ASIC)
- New Zealand – Financial Markets Authority (FMA)
- Singapore – Monetary Authority of Singapore (MAS)
- Japan – Japanese Financial Services Authority (FSA)
- South Africa – Financial Sector Conduct Authority (FSCA)
- UAE – Dubai Financial Services Authority (DFSA)
- International – Bermuda Monetary Authority (BMA)
Is IG safe?
To be certain that a brokerage is safe, we highly advise that you check two facts:
- how you are protected if something goes wrong
- the background of the broker.
How you are protected
This is important for you because the investor protection amount and theregulator differ based on which entity you belong to.
Client | Protection amount | Regulator | Legal entity |
---|---|---|---|
UK | £85,000 | Financial Conduct Authority (FCA) | IG Markets Ltd IG Index Ltd* |
Europe, excluding UK and Switzerland | €20,000 | Federal Financial Supervisory Authority (BaFin) | IG Europe GmbH |
Switzerland | CHF 100,000 | Swiss Financial Markets Supervisory Authority (FINMA) | IG Bank S.A. |
USA | No protection | Commodity Futures Trading Commission (CFTC) National Futures Association (NFA) | IG US LLC |
Australia | No protection | Australian Securities and Investment Commission (ASIC) | IG Markets Ltd, Australia |
New Zealand | No protection | Financial Markets Authority (FMA) | IG Markets Ltd, Australia |
Singapore | No protection | Monetary Authority of Singapore (MAS) | IG Asia Pte Ltd |
Japan | No protection | Japanese Financial Services Authority (FSA) | IG Securities Ltd |
South Africa | No protection | Financial Sector Conduct Authority (FSCA) | IG Markets South Africa Limited |
United Arab Emirates | No protection | Dubai Financial Services Authority (DFSA) | IG Limited |
International | No protection | Bermuda Monetary Authority (BMA) | IG International Limited |
*If you choose a spread betting account, you will belong to this legal entity.
IG provides negative balance protection for forex spot and CFD trading, but only to retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.
Background
IG was established in 1974. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
IG Group, the parent company of IG, is listed on the London Stock Exchange, which is a big plus for safety as IG releases financial statements in a regular and transparent manner.
Being listed on a stock exchange, providing financial statements, and being regulated by a top-tier authority are all great signs for IG's safety.
Deposit and withdrawal
Score: 4.4/5
IG offers free and fast deposit and withdrawal options. There are various options for funding your account, including traditional methods such as wire transfer and bank card funding, as well as PayPal.
✅ Pro | ❌ Cons |
❖ Bank card available ❖ Free withdrawal ❖ No deposit fee | None |
Account base currencies
At IG, you can choose from the following 6 base currencies:
USD | GBP | AUD |
EUR | SGD | HKD |
When you open an account, you cannot select your account base currency.You can change the currency of your account only if you write an email to IG‘s Customer Service, which makes the whole process a bit inconvenient.
IG offers a great base currency selection when compared to its closest competitors.
Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
IG charges no deposit fees.
In addition to bank transfers, you can also deposit money via credit/debit cards and PayPal.
In case of bank card deposit, IG accepts:
- Debit cards: Maestro, Visa, Electron, MasterCard
- Credit cards: Visa, MasterCard, Discover
- Major prepaid cards
A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name.
There are a lot of deposit options at IG, including electronic wallets such as PayPal.
IG review – Deposit and withdrawal – Deposit
IG withdrawal fees and options
IG doesn't charge any withdrawal fees.
You can only withdraw money to accounts in your name.
How long does it take to withdraw money from IG? We tested the debit card withdrawal and it took 2 business days.
How do you withdraw money from IG?
- Log in to your ‘My IG' account.
- Select the account you wish to withdraw the money from.
- Click on the three dots menu on the right side.
- Go to ‘Withdraw Funds'.
- Select the withdrawal method you prefer.
- Enter the withdrawal amount.
- Initiate the withdrawal.
IG review – Deposit and withdrawal – Withdrawal
Show less about Deposit and withdrawal
Account opening
Score: 4.4/5
IG‘s account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $/€300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
✅ Pro | ❌ Cons |
❖ Fully digital ❖ Low minimum deposit ❖ No minimum deposit for bank transfer | ❖ Slower account opening |
Can you open an account?
VISIT BROKER
69% of retail CFD accounts lose money
Clients from the US can use only IG‘s forex trading service, CFD trading is not available to US clients. For our review, we opened an account at IG's UK entity.
What is the minimum deposit at IG?
The required IG minimum deposit is $0.
The no minimum deposit rule applies to bank transfers. For credit/debit cards and PayPal transfers the minimum deposit is $300/€300/£250.
Account types
The country of your residency determines the account type you can open. In most countries, you can trade only forex, CFDs and options.
Countries | Products |
---|---|
All countries, except below | Forex, CFD |
Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden | Forex, CFD, Options |
UK*, Ireland, Malta, Cyprus, Australia + some smaller countries, like Gibraltar, the British Virgin Islands, etc. | Stocks**, forex, CFD |
USA | Forex |
*There are also tax-efficient accounts available, such as ISA and SIPP.
**You will need to open a second account for stock trading.
How to open your account
IG has a straightforward and fully digital account opening process. The online registration takes only 5-10 minutes, but the account verification can take a bit longer. Our account was verified after 3 business days.
The 5 steps of IG account opening:
- Enter your name, email address, country of residence and select your account type.
- Provide some personal details, like your date of birth and address.
- Answer a few questions about your financial and employment status.
- Provide information about your financial knowledge and fill out a short test.
- Verify your ID and residency. You can upload a national ID, passport or driver's license for verifying your ID. Utility bills and bank statements are accepted for residency verification.
IG review – Account opening
Mobile app
Score: 5/5
The IG mobile trading platform is easy to use and has great functionalities.
✅ Pro | ❌ Cons |
❖ User-friendly ❖ Good search function ❖ Touch/Face ID login | None |
You can use both IG‘s own mobile trading platform and the MetaTrader 4 platform. They are available for both iOS and Android devices.
In this review, we tested IG‘s own platform on an iOS device.
Look and feel
The IG mobile platform is very intuitive, similarly to the web trading platform. You can easily find all available features.
The design is OK, nothing great, and not as good as the web trading platform.
IG review – Mobile trading platform
Login and security
IG provides a safer, two-step login for its mobile platform.
You can set up the two-step authentication with a separate app called IG Authentication.
You can log in using biometric authentication, which is a convenient feature.
Search functions
The search functions are good.
The search results are categorized by assets.
IG review – Mobile trading platform – Search
Placing orders
You can use the following order types on the mobile trading platform:
- Market
- Limit
- Stop
- Trailing Stop
- Guaranteed Stop
There are also order time limits you can use:
- Good 'til Cancel (GTC)
- Good 'til Date (GTD)
IG review – Mobile trading platform – Order panel
Alerts and notifications
You can set alerts and notifications on the IG mobile platform.
To be more precise, you can only set price alerts as the mobile platform's alerts function is not as extensive as the web trading platform's.
VISIT BROKER
69% of retail CFD accounts lose money
Desktop platform
Score: 5/5
IG‘s web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
✅ Pro | ❌ Cons |
❖ User-friendly ❖ Clear fee report ❖ Two-step (safer) login | None |
If you prefer a desktop-based platform, you can use MetaTrader 4 for CFDs and spread bets for free. In design and functionality, IG‘s MetaTrader 4 desktop platform is almost the same as the web trading platform.
Another alternative is ProRealTime. It is free to use if you make at least 4 transactions a month. If not, a £30 monthly fee will apply.
For shares and CFDs, L2 Dealer is a free downloadable alternative that offers direct market access (DMA). Watchlists, price alerts and trading from charts are possible. Charts are provided by ProRealTime access. Minimum £1,000 balance required.
VISIT BROKER
69% of retail CFD accounts lose money
Product selection
Score: 3.7/5
At IG, most clients can only trade CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents of the UK and some other countries can also trade real stocks. However, other popular assets like mutual funds and bonds are not available.
IG is primarily a CFD and forex broker. US clients can only trade forex products.
You can also trade stocks if you are from one of the few countries where this is provided, such as the UK.
Whether you wish to trade CFDs of currency pairs, stock indices, stocks, ETFs, commodities, bonds, futures, you will find an extraordinarily wide selection of products at IG.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.
You can't change the default leverage level of the products. This is a drawback, as we believe this is an important factor you should be in control of.
Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, since the pre-set leverage levels can be high.
Real stocks and ETFs
IG's real stock offer falls behind competing brokers. Both eToro and XTB offer more stock markets to trade on.
You can trade stocks only if you are from:
- UK
- Ireland
- Malta
- Cyprus
- Australia
- Some smaller countries, like Gibraltar, the British Virgin Islands, etc.
IG provides access to 8 exchanges and 2,000 stocks.
Options trading is available only in the following countries: Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, and Sweden.
At IG you can trade:
- equity index
- forex and
- commodity options.
The most popular equity indices, forex pairs and commodities are all available.
You can choose from two option types:
- Vanilla options
- Barrier options
IG Smart Portfolio
IG Smart Portfolio is available only in the UK. IG Smart Portfolios are iShares ETF portfolios managed by BlackRock. This is basically a robo-advisory service, that is, these are automatically managed low-cost portfolios.
IPO
If you prefer to buy shares in IPOs,you can do it with IG. An IPO is an initial public offering, or stock market launch, where a company's shares are sold to the general public for the first time.
There are two ways to participate in IPOs at IG:
- IPO Grey Market – this allows you to open long/short positions before the IPO happens
- After the IPO – this allows you to place orders after the IPO happens
Turbo24
IG also offers an innovative product called Turbo24. At the time of writing, it was available to clients in France, Germany, Spain, Italy, Netherlands, Sweden and Norway.
Turbo24s are exchange-traded products that can be traded 24/5.
When you place an order, you have to set a knock-out level, which is the price where your position will be liquidated. Selecting the knock-out level works like selecting your leverage because you have to fund your position up to the knock-out level. If you choose a lower knock-out level, you'll use higher leverage, while a higher knock-out level means lower leverage.
OG of Online Brokerage Business
“This brokerage has two identities. Outside of the US, it is primarily a platform for trading CFDs, while US customers in 48 states can only trade currencies. IG offers negative balance protection and guaranteed stop loss orders to all but US customers. Costs are average, but IG’s educational pages are well-designed and informative.”https://www.youtube-nocookie.com/embed/0Zx2UQg99GQ
FAQ
We recommend IG for traders with any experience level looking for an easy-to-use trading platform.
Below you can find links to all aspects of IG in this comprehensive collection.
Lower fees, lower costs?
We detailed this in our IG fees article.
What about the minimum deposit?
Our ultimate guide to the IG minimum deposit is updated regularly.
How to start your IG account?
Look no further than our evaluation of the IG account opening.
How's their trading app?
Here's our expert view after checking the IG trading app.
Is the quality of customer service satisfactory?
All you need to know about the IG customer service.
Legit or scam?
Is IG legit features all the key aspects you need to look at to see if a broker is safe and legit.
Free or premium? Or both?
A glance at actual costs and whether IG is really free.
Is this broker good for beginners?
We checked it in Is IG good for beginners.
Should you buy your silver bullets on IG?
Research for silver bugs in the Silver buy on IG guide
I want to trade options, are they available at IG?
We explored the topic in Can you trade options on IG?
What is the minimum account balance at IG?
Check out the current account balance requirements at IG in our What is the minimum account balance at IG article.
Looking for commission and fees data for IG?
We collected them in IG commission and fees.
How do you withdraw money from IG?
We tested it and collected the options and costs in How to withdraw money on IG.