IG Group Forex Broker

IG Group Forex Broker Broker Review

Justin Freeman

Broker Information

  • Company Name: IG Group
  • Founded: 1974
  • Country: UK

Platform Info

  • Platform: IG Proprietary and MT4
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: FCA
  • Leverage: 1:700
  • US Clients: No
  • Funding Methods: Wire Transfer, credit card, Web Money
  • Pairs Offered: 90+
Expert Summary Andrey Dashin, the owner of the Alpari brand, founded ForexTime Ltd (FXTM) in 2011. The multi-asset ECN broker comes under the regulations of the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Europe and the Financial Services Commission (FSC) in the Republic of Mauritius. The regulators …

Expert Summary

With a history stretching all the way back to 1974, when they first opened their doors, IG Group has gone on to become one of the most recognisable brands in the forex trading space. And thanks to a number of high profile brand deals and sponsorships in recent years, awareness of IG Group has reached an all-time high. Through their network of sales offices across the world, IG Group service a customer base of well over 140,000 clients, making them one of the largest online brokerages.

But big-name sponsorships isn’t the only reason why IG Group has grown to such heights, without question they offer one of the most solid online trading experiences out there, particularly amongst the large brokerages.

With a product offering of around 10,000 financial instruments across regions and sectors, which includes CFDs, spot forex, spread betting, and stock trading, IG Group has one of the most comprehensive selections amongst even the largest online brokerages. For this reason alone, IG Group is well suited to both beginner and more advanced traders. Having such a wide variety of instruments at your disposal ready to trade makes it easy to diversify your trading portfolio.

In terms of customer protection and safety, IG Group maintains incredibly high standards. They are licensed to operate and regulated under a number of financial services regulatory bodies across the world, which includes the FCA and the CFTC. Additionally, the IG Group are listed on the FTSE 250, which brings with it a number of other regulatory obligations.

Unlike some other platforms which have a tiered account member system in place, IG Group offers one basic account type which covers traders of all skill and experience levels. There is also a more professionally-oriented account, although this might not be particularly relevant to retail and at-home traders. Across both account types, the spreads offered are generally competitive—with spreads on some currency pairings starting from as low as 0.8 pips—and they have a very transparent fee and pricing structure in place.

Trading is delivered primarily through a proprietary trading system developed in-house, which includes a bespoke mobile trading app. The proprietary trading platforms are designed with functionality and ease of use in mind, and they have been award a number of industry awards since first being launched. For those traders looking to stick with a more familiar platform, access to MetaTrader 4 is also provided through your account.

Another benefit of IG Group being the size they are related to customer support. As a broker with hundreds of thousands of clients spread across regions, time-zones, and languages, IG Group is a truly international broker. The customer support team reflects this and support is available through live chat, email, or via phone in a range of languages.

Of the large brokers, IG Group is just about as good as it gets. And despite their size, IG Group hasn’t lost that personal touch when it comes to the trading experience. With an impressive global footprint, a high profile brand name, and very favourable trading conditions on offer, IG Group is worth checking out regardless of whether you are a novice or a more experienced trader.

Is it time to go with a leader in the forex and CFD brokerage space? If experience and industry accommodations, along with an ubiquitous global presence, mean something to you, then it is time for you to consider the IG Group (IG) of companies. This firm is the undisputed leader in CFDs and spread-betting services, sporting respective market shares of 55% and 36% in each market. Since 1974, IG has been an industry pioneer and innovator, amassing a global customer base of nearly 140,000 clients, all supported by a network of 17 sales offices located conveniently in major cities across the planet. IG is also a publicly traded member of the London stock exchange and of the FTSE 250. Its market capitalization is presently £3 billion, relieving any worry that you might have about capital adequacy. The “bigness” of this enterprise does not stop there. Total annual revenue turnover for the firm in their 2015 fiscal year was £388.4 million, and the company’s capital account is almost £500 million. Financial transparency and full financial disclosure are givens with this industry leader.

IG’s product offering is perhaps the largest in the industry, as well. They support over 10,000 market instruments worldwide, including CFDs, spot forex, spread betting and stock trading services. IG also wholly owns the North American Derivatives Exchange (Nadex), specializing in binary options and spreads. There are opportunities to trade stock indices, commodities, forex, and commodities. The best point of entry to this mega-consortium is through the IG Group website address. From there, you may access the various trading entities contained within its operating umbrella by tapping the IG.com button on the website. While on the primary website, you will be impressed by the long list of industry commendations, each singling out a specific component of the firm for its excellence. And, as you might expect, regulatory compliance from the highest level is assured from the FCA, the CFTC, and host of other regulatory bodies spread across the globe. IG is well-oiled machine that sets a high standard for all others to follow.

IG does not confuse or discriminate based on the size of your account balance. There is one basic account category, as well as a more professionally oriented account. Each account comes with a free demo system and access to over 10,000 market offerings at competitive spreads and leverage and their extensive library of support materials. IG also has its own proprietary trading platform and mobile applications that have received many awards, but Metatrader4 system choices are also available. A direct market access (DMA) system is also supported for high volume clients that prefer direct market matching of orders with global liquidity providers. Client deposits are protected via segregation with Top Tier banks, and bilingual customer service representatives are always at your beck and call, “24X5”, each and every market day. At the end of the day, you would be hard pressed to find a similar grouping of experience, product and service offerings, and industry expertise, all under one roof, in today’s milieu of forex brokerage firms. IG may be big and a powerhouse, but size does have its advantages.

Features

Why trade with IGGroup.com? The firm lists these reasons:

  • Founded in 1974 and headquartered in London;
  • Began with spread betting and then pioneered online trading;
  • Expanded from the UK to 17 sales locations around the globe;
  • FCA and multi-jurisdictional regulatory oversight and compliance across the globe;
  • On the London stock exchange, member of FTSE 250;
  • North American Derivatives Exchange (Nadex) accepts U.S. traders (Check the website for restrictions);
  • Free demo account with Standard or Professional account classification;
  • Access to 10,000 asset offerings spanning all markets, including spot forex, stocks and CFDs in currency pairs, indices, stocks, commodities, bonds and precious metals (over 90 major, minor, and exotic currency pairs);
  • Proprietary award winning web-based trading platform with extensive feature set and mobile apps;
  • Other specialized platforms may appeal to professional traders that prefer direct market access (DMA) or Metatrader4 protocols;
  • Tight spreads vary by asset choice and type of trading protocol  – EUR/USD spread can be as low as 0.8 pips;
  • DMA platform matches orders with liquidity providers at variable pricing formats;
  • Extensive library of training, educational, and support materials;
  • Professional support personnel available “24X5” when markets are open;
  • Extensive list of industry awards that highlight excellence in all areas.

Trading Platform

IG has garnered a fair amount of industry praise for its proprietary web-based trading platform. Both it and accompanying apps have been recognized annually as the best in class for excellence and innovative feature sets. If so desired, you may still use the widely popular Metatrader4 series of trading platforms, along with other specialized trading systems that provide direct market access or more advanced charting and monitoring tools. The latest encryption technology is also used to protect confidential information for security purposes.

Deposits and Withdrawals

Credit and debit cards or banking wire transfers are the primary deposit methods. There are also other payment options, but there may be additional charges, depending on the third-party provider. Withdrawal requests will be handled in a prompt fashion, but only if internationally mandated personal ID documents are on file and in order.

Customer Support

IG takes a great deal of pride in its customer service area. This area has also received many awards for excellent performance. You can expect prompt responses to queries in a host of different languages, another reflection of the global reach of this firm. Live chat, email, or direct phone are the primary access methods, but you may also choose from 17 convenient office locations in major cities across the globe. IG also sets a high standard for training and support materials, as evidenced by its recent accreditation as the “Best Investor Education 2015 – Shares Awards.”

Spreads and Leverage

Spreads and leverage are competitive, but each may vary according to the asset chosen and the trading platform utilized. Pricing can be variable or fixed, but the EUR/USD spread, for example, can be as low as 0.8 pips. Leverage may be restricted to U.S. clients, in accordance to local law, but non-U.S. customers will find leverage as high as 700:1 for indices and in line with industry standards in other areas.

Conclusion

There are few forex and CFD brokers that can match the high standards set by the IG Group. From products offered to trading platforms supported, experience and industry leadership are present at every turn. The firm’s global footprint is impressive, and that also comes with regulatory compliance from a variety of jurisdictions at the highest level. Peace of mind is a given, and with over 10,000 tradable asset choices, all competitively priced, you can leverage IG’s position in the market to your own advantage with ease. Industry awards have been plentiful, just one more indication that IG is Top Tier and worthy of anyone’s consideration as their primary brokerage firm.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Justin Freeman

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