New IG Group broker review – 2021 Update
IG Group is one of the world’s largest forex and CFD brokers, with 14 offices spread on 5 continents, serving 185,800+ active clients worldwide. IG Markets Ltd owns and operates the firm, which was started in 1974. The broker headquarters are in the UK under license No. 04008957. For US consumers, brands under the IG umbrella include Nadex and IG USA.
Reputation & Regulation
Regulation and credibility are important when selecting an online broker to work with. IG Markets Ltd is authorized and regulated by the UK Financial Conduct Authority (FCA). In addition, they are authorized and registered for each regional office by the country in which it resides. IG US, for instance, is completely compliant in the US.
As for the reputation of IG, it is exceptional. For 40+ years the company has proved itself to be a top competitor that has influenced the online trading landscape.
The brokerage has won multiple accolades for its trading platforms, infrastructure, great client service, and more. As a reliable source of market research, IG Trading analysts are frequently quoted in the press.
IG Group Trading Platforms
IG Markets has its very own web-based, proprietary trading site. The site was recognized as the best of its class and the industry.
The broker now provides downloadable apps for Apple and Android devices such as mobile phones and laptops, in addition to their web-based website. With customizable interfaces, advanced monitoring tools, simple navigation, and numerous advanced trading tools, the web-based platform and mobile applications are very user-friendly. Their systems are considered to be very creative since they are quick to implement the latest innovations.
If traders are new to the IG trading platform and prefer an established trading environment, the common Metatrader4 series of platforms are free to use. Traders may also use IG’s sophisticated charting analytics software.
Trading Account Types
IG Markets does not complicate things – it offers its customers only two forms of trading accounts, with a live trial account to check the program and trading platform, of course.
They give retail day traders a standard account, and more expensive accounts are reserved for high net worth traders, plus a limited professional account. The pro account requires fulfillment of certain requirements (trading capital and experience) but allows for greater leverage rates in return for less regulatory security.
Standard accounts have a minimum of $1 in exchange and a limit of $300 per option.
Apart from the two accounts offered, professional traders have the option to open a DMA account that allows them to trade market depth with the use of algorithms. It also offers traders the chance to take part in premarket and postmarket auctions.
Traders with IG Markets have a large variety of tradeable financial instruments. For eg, traders have access to more than 10,000 assets in all tradeable markets including spot forex, stocks and CFDs in currency pairs (more than 90 majors, minors, and exotics), indices, commodities, stocks, bonds, and precious metals.
In the field of client service, IG excels and has received several accolades for it. Traders should expect to prompt responses in various different languages. The tools available for direct support include live chat, email, mobile, and social media. Their support desk is available Monday to Friday around the clock, and at weekends (UK time) from 9:00 am – 5:00 pm.
Address of the headquarters: Cannon Bridge House, 25 Dowgate Hill, London, UK EC4R 2YA.
IG provides its services to countries from all over the world, except the United States and Belgium. Also, their services are not intended for any country or jurisdiction in which such delivery or use may contravene local law or regulation.
Deposit & Withdrawal
Making a deposit is, as it should be, very easy with IG. Traders can use credit cards (VISA, MasterCard, debit) and Bank Wire Transfers to deposit funds.
IG restricts traders from withdrawing funds through internet bank transfers or credit/debit cards. Application for withdrawal shall be dealt with promptly if all required paperwork is submitted prior to an application for withdrawal.
Are They Suitable For Trading?
- Education – IG gives its multiple educational tools – a vast library of training, support and educational materials on how to day trade with success.
- Trading Tools – Traders also have a comprehensive range of charts, data and analysis tools, as well as market news. Moreover, traders have access to over 100 technical indicators.
- Range of assets – There is a massive array of assets of over 10,000 to choose from, which makes this brokerage great for day traders who are novices or seasoned veterans.
IG Group accepts traders from Australia, Thailand, the UK, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxemburg, Qatar and most other countries.
Traders from Canada, Belgium, and the United States can not use the IG Group.