IG is one of the leading and most reputable CFD brokers in the world. It has been playing the field for over four decades now. As such, it boasts of both experience and the right place for your financial investment. Based in London, it’s also regulated by some of the most strict financial and regulatory bodies including NFA, CFTC US, the FCA and ASIC. The reason why most traders flock to this broker is that it’s considered as safe, being listed on London stock exchange.
The platform consists of several features which are as follows:,
A Wide Range of Products Traders are in for a pleasant surprise when it comes to the range and versatility of the products available at IG. Over 1,500 products are on offer, in the form of different assets. These include forex, commodities, cryptocurrencies, indices, and bonds. Traders on the platform can also access shares on global forex markets.
Multiple Trading Platforms IG provides highly functional trading platforms. It includes its main trading platform, which does not only offer incredible ease of use but is equipped with all the critical functions. It can also be customized depending on one’s trading needs, which include charts and workstations. Other equally useful platforms which IG offers include MetaTrader 4 which features 18 free add-ons to make your trading experience quite impressive. Traders can also engage in share trading on its L2 dealer platform since its configured with both Forex Direct and Direct Market Access (DMA).
Regulation and Safety IG is regulated by several bodies including:
– Financial Conduct Authority, UK – ASIC – CFTC and NFA USA – FMA, New Zealand – Financial Services Provider, South Africa Other than that, traders have nothing to worry about as IG prioritizes its customers’ funds. For instance, all client funds are put away in a separate bank, from its operational funds.
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Deposit/Withdraw Options There are several user-friendly options through which traders can deposit and withdraw money. These include:
– Using your credit/debit card to deposit and withdraw. – Several account base currencies such as the dollar, euro, and pound which traders can use. Other minor currencies can also apply, but you need to contact IG’s customer support to be in the clear. – There are no fees on their deposits, while transfer options include Paypal, skrill, WebMoney, bank transfer, and credit/debit card. Again no withdrawal fees are charged; everything is free. You can use bank transfer as well as credit/Debit card to withdraw. The process can take between 3 to five days to mature.
Spreads and Fees There are competitive prices across the board at IG. This is regardless of the asset which is being traded. The advantage of this kind of fees is that Direct Forex accounts have been featuring minimum spreads on the EUR/USD 0.6pips, with average coping at 0.75 in the past few months. Besides, it’s also offering competitive commission rates on its Forex Direct accounts, mainly found on the IG’s L2 platform. It just requires a minimum amount of £1,000 while is pricing scale is based on the trading volume of each trader in the previous month. Customer Support The broker comes with excellent 24/7 customer support. You get to access useful links such as:
- Live Chat
- Existing clients’ questions and answers
- Phone contacts – Social media handles such as Twitter, and Facebook
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Research Traders can benefit from the various resources which support market research. For instance, you can access an economic calendar from Reuters’ streaming news. The platform also features a fully customizable screener, which relays such asset classes as forex, cryptocurrencies and global stocks trading.
Pros – It’s an excellent trading platform, which provides complete ease of use. – Superb customer support. – Safety of your funds is guaranteed. – Multiple options for deposits and withdrawing. – You have opportunities to learn first with its demo account and online courses.
Cons – Trading fees are usually high, especially with lower investments. – IG charges inactivity fees which can detrimental to account holders. Conclusion Having been in the field for so many years, IG comes along as both experienced and reliable. It also regulated by very strict financial entities, which makes all operations to be above par. Its web-based trading platform is also among the best. It provides ease of use, even for its new users. Furthermore, if you are starting, you can first educate yourself with its demo account.