Want to see if IG is a legit broker? Safe to trade? The spread is high or low? How long to deposit or withdraw?
We provide answers to all the questions in this IG Review.
We checked IG licenses and regulations to see if IG scam or safe. We compared IG fees, spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.
What is IG
IG is one of the biggest global CFD and Forex brokers established in 1974.
The company operates as IG Group Holding, is a member of FTSE 250 and multiply regulated company with numerous licenses including top-tier FCA in the UK, FINMA in Switzerland, CFTC in the US, etc.
|🗺️ Regulated in||UK, USA, Australia, Switzerland, South Africa, Singpaore, New Zealand, Dubai, Japan Dubai, Belize|
|🛡️ Is IG safe to trade||Yes|
|💵 EUR/USD spread||0.8 pips|
|🏦 Deposit||Bank Wire, Cards, PayPal|
|💰 Minimum deposit||US$250|
|🏦 Withdrawal||Bank Wire, Cards, PayPal|
|💻 Trading platform||MT4, IG Proprietary Web, Mobile, Desktop|
|💳 Trading markets||Forex, CFDs on Futures, Indices, Shares, Metals, Energies, Cryptocurrencies. Options.|
|📈 Number of product||17,000+|
|📉 Live chat response||Fast and relevant answers|
License and regulation are crucial to traders’ fund security. We check two facts, the broker’s background and license, and how trader is protected if something goes wrong.
Is IG legit
IG is one of the trading pioneers and is listed in Stock, plus it is heavily regulated by almost all reputable world authorities totally licensed by 11 regulators.
The headquarter based in the UK is authorized by top-tier Financial Conduct Authority FCA, and its subsidiaries are operating German, Australia, Switzerland, South Africa, Singapore, New Zealand, Dubai, Japan, USA plus international Bermuda based branch, while all entities are licensedby local regulators and according to necessary laws.
IG licenses and status
|Entity||Registered in||Regulator||License no.||Status|
|IG Index Ltd, IG Markets Ltd||UK||Financial Conduct Authority (FCA)||195355 | 114059||Currently Regulated|
|IG Markets Ltd, Australia||Australia||Australian Securities and Investments Commission (ASIC)||ABN 84 099 019 851, AFSL 220440||Currently Regulated|
|IG Markets Ltd, Australia||New Zealand||Financial Markets Authority (FMA)||FSP No. 18923||Currently Regulated|
|IG Bank S.A||Switzerland||Swiss Financial Market Supervisory Authority (FINMA)||Currently Regulated|
|IG Limited||Dubai||Financial Markets Authority (FMA)||(F001780)||Currently Regulated|
|IG Asia Pte Ltd||Singapore||Monetary Authority of Singapore (MAS)||200510021K||Currently Regulated|
|IG Markets South Africa Ltd||South Africa||Financial Sector Conduct Authority (FSCA)||FSP No 41393||Currently Regulated|
|IG Europe GmbH||Germany||Federal Financial Supervisory Authority (BaFin)||148759||Currently Regulated|
|IG Securities Ltd||Japan||Japanese Financial Services Authority (JFSA) METI, MAFF||No. 255||Currently Regulated|
|IG US LLC, Nadex||USA||Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)||Regulated Exchange||Currently Regulated|
|IG International Limited||Bermuda||Bermuda Monetary Authority (BMA)||Registered|
Is IG safe
Yes, IG is considered safe because it is operating for many years, audited by numerous world regulators including the top-tier and is listed on Stock FTSE250.
IG operates 12 entities and is fully authorized in each jurisdiction that proide transparent trading environment. The matter of entity apply different regulatory requirements, protective measures and compensations in case of insolvency.
IG compensation scheme
|Entity||Compensation Amount||Negative Balance Protection|
|IG Index Ltd, IG Markets Ltd||£85,000||Yes|
|IG Markets Ltd, Australia||No compensation||Yes|
|IG Markets Ltd, Australia||No compensation||Yes|
|IG Bank S.A||CHF 100,000||Yes|
|IG Limited||No compensation||Yes|
|IG Asia Pte Ltd||No compensation||Yes|
|IG Markets South Africa Ltd||No compensation||Yes|
|IG Europe GmbH||€ 20,000||Yes|
|IG Securities Ltd||No compensation||Yes|
|IG US LLC, Nadex||No compensation||No|
|IG International Limited||No compensation||No|
We recommend to register account with the UK, Germany, Switzerland or Australia entities of IG, as we consider these regulations the best
IG provides negative balance protection for the traders, however some entities does not demand this rule.
Markets and Products
IG offers very big range of trading products thousands of instruments and 6 asset classes, including Spread betting for UK traders and legal options trading through its entity Nadex.
IG Markets range includingForex, CFDs on Stocks, Indices, Commodities, Oil and Metals. Trading instruments range is different in each entity.
IG mainstays on one basic account type.
Account opening is easy and step-by-step fully digital process. Where Trading conditions are relevant to local regulatory restrictions or conditions.
Fees and commissions
We ranked IG fee levels low and average for some instruments based on Live Account Spreads and compared to 150 brokers in our database.
The spread we collected for popular instruments from 6 markets and over 150 brokers
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-3||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
IG fees are typically built into a variable spread for CFDs trading.
On our test trades via UK account we found the average spreads for Forex and other assets compared to industry benchmarks.
|Markets||Instruments||IG UK Spread||Other brokers’ avg spread|
|Stocks||Tesla||2 cents per share||0.6-1|
|ETFs||US Russell 2000||1||0.5-1.4|
IG has low non-trading fees. There is no fee for deposit, or withdrawals, inactivity is charged only after 2 years of non use.
The trading conditions at IG are good. All trading strategies are supported including scalping and hedging, but vary according to entity.
|Change Leverage Allowed||Yes|
For hedging, there is no time limitation for positions, US clients are restricted to use hedging.
Scalping strategy is allowed, IG offers free VPS for accounts over 5k$ and supporting Expert Advisors (EAs) with no restrictions.
You can perform Trading with leverage and the change of leverage with its maximum levels depending on the entity regulations, and goes up to 1:500.
IG investing options are various and including Stockbroking, Share dealing, IG Smart Portfolios, ISAs and SIPPs.
IG charges no deposit fees, but in some regions some fees may apply.You can use bank transfer, credit cards, or PayPal, where methods are also depending on jurisdiction rules.
A bank transfer can take several business days, and payments with credit/debit cards and e-wallets are instant.
|Deposit Method||Funding Time||Fee|
|Bank Wire Transfer||Within 1 Working Day||0$|
|Credit / Debit Card||Usually within 10 min||0$|
|PayPal||Usually within 10 min||0$|
The minimum deposit requirement for IG is also set according to entity rules and starting from 250$, see the snapshot below.
Similar to deposits IG covers fees for withdrawals.
Withdrawals are requested and handled via My IG Account Area and processed within 24h, plus additional days for money to appear on your account.
|Withdrawal Method||Withdrawal Time||Fee|
|Bank Wire Transfer||24h||Free|
|Credit / Debit Card||24h||Free|
IG does not offer no-deposit or deposit bonuses due to regulations.
IG uses its own proprietary Web-based platform, ProRealTime, L2 Dealer, plus popular MetaTrader4 is among available selection too.
Platforms available across all devices for Windows, Mac, and Mobile Apps for Android and IOs.
Research and Tools
IG has very good research tools and technical capabilities, Alerts, ProScreener, TopMovers and Trends, also automated trading.
There is great quality Market Overview, Streaming news from Reuters, Economic Calendars, IGTV and numerous trading signals, plus to large IG Community.
IG research tools are available in different places:
- Trading platforms
- Analyze and Learn section on the website
IG education content is another big advantage of its offering.
Education content is wide and good for beginners, also further development for advanced traders. You can learn through trading videos, Webinars in different languages, Seminars, detailed articles, professional market outlooks and access trading ideas.
Demo account is offered on free basis and available for offered IG platforms.
IG education is high quality and you can learn:
- Demo account
- Trading videos
- Webinars, Seminars
- IG Academy
- Learning section on Website and IGTV
IG customer service is helpful and good, FAQ is wide and detailed with many common answers. Live agents supporting great number of languages, we got fast answer via the Live Chat.
Customer Support availably 24/5 and 24/7 in the US, and supporitng:
- Live chat
IG live chat is quick speed, agents are eager to help and connect to relevant conditions
|Question Asked||We asked about trading instruments.|
|Time of Reply||We connected to Live Chat within short waiting time|
|Quality of Reply||The answer was very informative, refereeing to particular entity proposal|
IG is a safe and trustable broker to trade.
IG group is well-rounded, operating for several decades and regulated by great number of world respected authorities including top-tier FCA, also listed on Stock.
IG proposal is advanced, covering almost all world traders and suitable for various size portfolios, investors or institutions. From its strong points we would admit very big range of available instruments, flexibility between platforms and good education.
We recommend IG for beginning traders or day traders, scalpers and those looking for a quality investment.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.