IG Online Trading Platform Review

IG is an established online trading platform with a history dating back to 1974, making it one of the most seasoned providers in the industry. Renowned for its reliable and intuitive platforms, IG caters to a range of financial markets, including forex, stocks, indices, and commodities. Offering access to over 17,000 global markets, IG has established a presence in more than 16 countries. This review will delve into the various features and services offered by IG, helping you determine its suitability for your trading needs.

Key Features of IG Online Trading Platform

1. Extensive Market Range: IG grants access to a vast array of markets, over 17,000 in total, encompassing forex, shares, indices, and commodities. Additionally, it offers unique opportunities for cryptocurrency trading, distinguishing it from many online trading platforms.
2. Ease of Use: The platform is designed to be user-friendly, catering to both beginners and experienced traders. It features a streamlined design and an intuitive interface, complete with customization options. It’s accessible via both web and mobile, ensuring trading can be conducted from anywhere.
3. Sophisticated Charting Tools: IG provides advanced charting capabilities, equipped with more than 30 technical indicators and drawing tools, aiding traders in market trend analysis and informed decision-making.
4. Educational and Research Support: The platform includes a host of educational resources and trading tools, including webinars, guides, market analysis, and market data, to help traders develop and refine their trading skills.
5. Award-Winning Customer Support: IG is known for its exceptional customer service, available 24/7 through various channels including phone, email, and live chat. The platform has been recognized with several awards for its customer support.

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Account Types

IG caters to diverse trading needs with different account types:

• CFD Trading Account: This standard account allows trading on margin across a wide range of markets with no minimum deposit or account fees.
• Spread Betting Account: Available only in the UK and Ireland, this account allows traders to speculate on market price movements without owning the underlying asset, with no minimum deposit or account fees.
• Share Dealing Account: Traders can buy and sell shares in the UK, US, and European markets. Share dealing incurs a commission, with the option of a tax-free ISA or a non-tax-free account.
• Professional Account: For experienced traders meeting certain criteria, this account offers higher leverage and professional-grade tools. Eligibility requires a minimum net worth and income.

Trading Tools and Resources

IG offers numerous tools and resources to assist traders:

• Trading Signals: Free trading signals are provided to identify trading opportunities.
• Autochartist: This tool employs algorithms to analyze market data and pinpoint trade opportunities.
• Trading Central: In partnership with Trading Central, IG offers in-depth market analysis and trading ideas.
• Economic Calendar: The platform includes an economic calendar to track upcoming economic events.
• ProRealTime: This advanced charting platform offers real-time market data and tools, free for active traders.
• Trading Apps: Mobile apps for iOS and Android are available for trading on the go.

Fees and Charges

IG’s fee structure includes:

• Spreads: Varying by market, with forex spreads starting from 0.6 pips.
• Commissions: Charged for share dealing accounts.
• Overnight Funding: Applied to positions held overnight.
• Inactivity Fee: A monthly charge for accounts inactive for over two years.
• No Deposit or Withdrawal Fees: Although payment providers may charge transaction fees.
• Conversion Fees: A 0.5% fee for transactions in non-account currencies.

Security and Regulation

IG’s commitment to security and regulation includes:

• Multiple Regulatory Oversight: Regulated by the FCA, ASIC, and MAS, ensuring adherence to strict standards.
• Segregated Accounts: Client funds are kept separate from IG’s funds.
• Two-Factor Authentication: For enhanced account security.
• SSL Encryption: Protecting user data and transactions.
• Negative Balance Protection: To prevent losses exceeding account balances.