Latest IG Forex Broker Review

IG was established in the UK in 1974 and is one of the biggest CFD providers in the world. It is regulated by several bodies globally, including top-tier authorities like the FCA. IG Group is listed on the London Stock Exchange. 

IG is considered safe because it is listed on a stock exchange, discloses its financials, and is overseen by top-tier regulators.
IG is primarily a CFD broker. If you are from the US, you can only trade with forex. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.
Recommended for traders looking for a great and easy-to-use trading platform

IG is primarily a CFD broker. If you are from the US, you can only trade with forex. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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.

IG offers traders access to trade over 15,000 products across multiple asset classes, including forex, CFDs on shares, indices, commodities, bonds, cryptocurrencies, and provides access to other global markets including exchange-traded shares through its regulated offerings. As of its financial year ending May 31st, 2019, IG services over 205,000 active clients globally through its 14 global offices and 1,500 staff, across its regulated entities in the UK and internationally.

Recommended for traders looking for a great and easy-to-use trading platform  

Broker Name  Accepts US Residents Average Stadard Spread EUR/USD  Min Deposit Trust Score Open Account
IGYES0.770$25097Open IG Account
Latest IG Forex Broker Review
Latest IG Forex Broker Review
1

Easy-to-use platforms

Identify and respond to opportunity quickly and securely on fast, powerful platforms and natively-designed apps.

2

Over 80 forex pairs

Trade over 80 FX pairs including EUR/USD, USD/JPY, GBP/USD and more.

3

Friendly, expert support

IG ahve 24 hour support to help you achieve your trading goals, right from the moment you join.

Commissions Fees

IG uses its size to provide traders competitive pricing across the board, regardless of the product being traded, and shines for its active trader pricing available through Forex Direct accounts.

Pros:
• For mini and standard size contracts, minimum spreads on the EUR/USD were 0.6 pips and average spreads were 0.75 pips.

• For volume traders who qualify as professionals under EU rules, IG has even more competitive rates on its commission-based offering, Forex Direct. Forex Direct is offered on IG’s L2 Dealer platform, requires only a £1,000 minimum, and uses a tiered pricing scale based on the trader’s previous month’s trading volume.

• Forex Direct streams from interbank liquidity providers where IG acts as an agency broker – and doesn’t add on any additional spread. Instead, IG just adds a commission to each trade you make (similar to FXCM’s agency execution and other brokers with commission-based pricing).

Cons:
• None. 

Platforms and Trading Tools

All in all, IG provides an excellent offering of trading platforms and tools. The functionality is widespread and serves traders of all experience levels.

Pros:
IG’s main trading platform is its proprietary web-based platform. Usability is at the heart of the experience. For example, charts can be opened from nearly any view that shows live market prices and streaming bid/ask rates, and various other shortcuts provide access to a trading ticket or order dialogue window.

The default charts within the platform feature some advanced functionality, such as the ability to add an alert on a specific indicator, with a total of 22 indicators available to choose from.

In addition to its web-based platform, IG offers the MetaTrader4 (MT4) platform and its L2 Dealer platform where Forex Direct and Direct Market Access (DMA) are available for share trading.

Cons:
IG’s default layout in its web-based platform is mostly empty, requiring the user to customize the platform without a selection of pre-templated layouts to select from.

More advanced charting with nearly 100 indicators is provided by IG via the ProRealTime premium charting, which is available as a standalone application. ProRealTime costs £30 per month unless at least four trades are made during each calendar period.

Feature Set for IG Forex Broker

Virtual Trading (Demo) - Yes
Proprietary Platform - Yes
Desktop Platform (Windows) - Yes
Web Platform - Yes
Social Trading / Copy-Trading - Yes
MetaTrader 4 (MT4) - Yes
MetaTrader 5 (MT5) - No
cTrader - No
Charting - Indicators / Studies (Total) 22
Charting - Drawing Tools (Total) 17
Charting - Trade From Chart - Yes
Watchlists - Total Fields 12
Order Type - Trailing Stop - Yes

Customer Service 

Rank: 1st
To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2019 Review, 229 customer service tests were conducted over six weeks.

Results
Average Connection Time: <1 minute
Average Net Promoter Score: 8.5 / 10
Average Professionalism Score: 6.6 / 10
Overall Score: 8.0 / 10
Ranking: 1st (23 brokers data from Independent website)

IG Forex Broker Review

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses."

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