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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.

IG highlights

🗺️ Regulated inUK, USA, Australia, Switzerland, South Africa, Singpaore, New Zealand, Dubai, Japan Dubai, Belize
🛡️ Is IG safe to tradeYes
💵 EUR/USD spread0.8 pips
🏦 DepositBank Wire, Cards, PayPal
💰 Minimum depositUS$250
🏦 WithdrawalBank Wire, Cards, PayPal
💻 Trading platformMT4, IG Proprietary Web, Mobile, Desktop
💳 Trading marketsForex, CFDs on Futures, Indices, Shares, Metals, Energies, Cryptocurrencies. Options.
📈 Number of product17,000+
📉 Live chat responseFast and relevant answers

Regulation

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

EntityRegistered inRegulatorLicense no.Status
IG Index Ltd, IG Markets LtdUKFinancial Conduct Authority (FCA) 195355 | 114059 Currently Regulated
IG Markets Ltd, AustraliaAustraliaAustralian Securities and Investments Commission (ASIC)ABN 84 099 019 851AFSL 220440Currently Regulated
IG Markets Ltd, AustraliaNew ZealandFinancial Markets Authority (FMA)FSP No. 18923Currently Regulated
IG Bank S.A SwitzerlandSwiss Financial Market Supervisory Authority (FINMA) Currently Regulated
IG LimitedDubaiFinancial Markets Authority (FMA) (F001780)Currently Regulated
IG Asia Pte LtdSingaporeMonetary Authority of Singapore (MAS)200510021KCurrently Regulated
IG Markets South Africa LtdSouth AfricaFinancial Sector Conduct Authority (FSCA)FSP No 41393Currently Regulated
IG Europe GmbHGermanyFederal Financial Supervisory Authority (BaFin)148759Currently Regulated
IG Securities LtdJapanJapanese Financial Services Authority (JFSA) METI, MAFFNo. 255Currently Regulated
IG US LLC, NadexUSACommodity Futures Trading Commission (CFTC) and National Futures Association (NFA)Regulated ExchangeCurrently Regulated
 IG International LimitedBermudaBermuda Monetary Authority (BMA) Registered
IG Review – FCA License
IG Review – FCA License

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

EntityCompensation AmountNegative Balance Protection
IG Index Ltd, IG Markets Ltd£85,000Yes
IG Markets Ltd, AustraliaNo compensationYes
IG Markets Ltd, AustraliaNo compensationYes
IG Bank S.A CHF 100,000Yes
IG LimitedNo compensationYes
IG Asia Pte LtdNo compensationYes
IG Markets South Africa LtdNo compensationYes
IG Europe GmbH€ 20,000Yes
IG Securities LtdNo compensationYes
IG US LLC, NadexNo compensationNo
 IG International LimitedNo compensationNo

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.

Markets

IG Markets range includingForex, CFDs on Stocks, Indices, Commodities, Oil and Metals. Trading instruments range is different in each entity.

MarketsInstruments
Forex200+
Indices78
Commodities45
Cryptocurrencies8
Shares10,000+
ETFs2,000+

Account types

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.

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IG Review – Account types
IG Review – Account types

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

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-32.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

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.

MarketsInstrumentsIG UK SpreadOther brokers’ avg spread
ForexEUR/USD0.81-1.5
IndicesUS 5000.40.5-1.4
CommoditiesGold0.30.5-3
StocksTesla2 cents per share0.6-1
ETFsUS Russell 200010.5-1.4
CryptocurrenciesBitcoin450.6-0.9%

Other Fees

IG has low non-trading fees. There is no fee for deposit, or withdrawals, inactivity is charged only after 2 years of non use.

Trading Conditions

The trading conditions at IG are good. All trading strategies are supported including scalping and hedging, but vary according to entity.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

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.

Trading

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.  

Investing

IG investing options are various and including Stockbroking, Share dealing, IG Smart Portfolios, ISAs and SIPPs.

Deposit

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 MethodFunding TimeFee
Bank Wire TransferWithin 1 Working Day 0$
Credit / Debit CardUsually within 10 min0$
PayPalUsually within 10 min0$

Minimum Deposit

The minimum deposit requirement for IG is also set according to entity rules and starting from 250$, see the snapshot below.

IG Review – Deposit & Withdrawals - Minimum deposit
IG Review – Deposit & Withdrawals – Minimum deposit

Withdrawal

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 MethodWithdrawal TimeFee
Bank Wire Transfer24hFree
Credit / Debit Card24hFree
PayPal24hFree

Bonus

IG does not offer no-deposit or deposit bonuses due to regulations.

Trading Platform

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.

IG Review – Trading platform
IG Review – Trading platform

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
  • IGTV
IG Review – Research - Trading Ideas and News
IG Review – Research – Trading Ideas and News

Education

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

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 Review – Education
IG Review – Education

Customer Service

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
  • Telephone
  • Email
IG Review – Customer Service

IG live chat is quick speed, agents are eager to help and connect to relevant conditions

Question AskedWe asked about trading instruments.
Time of ReplyWe connected to Live Chat within short waiting time
Quality of ReplyThe answer was very informative, refereeing to particular entity proposal

Conclusion

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

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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