Trading Accounts

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads
Standard $0 0.1 1:200** 0.6 pips
DMA $0 0.1 1:200 0.2 pips + commission $3-$5*

IG markets offer spread betting and CFD services with the same spreads. CFD accounts are two types – Standard & DMA. The Standard one is commission-free, while the DMA account provides lower spreads, as prices are offered by liquidity providers, plus a variable commission, based on the client’s order size.

The broker does not offer micro lots for trade (0.01 lots), so some traders may find it difficult to manage the risks associated with high-volume trading.

The Company

Founded in London in 1974, IG (formerly IG Index) is a pioneer broker, that actually created the concept of financial spread betting. Furthermore, IG was the first spread betting firm to introduce online dealing in 1998.

Currently, the group of companies offers the wide range of products for online trade, available on a selection of platforms: contracts for difference (CFDs) on currency pairs, indices, commodities, stocks, financial spread betting (in the UK and Ireland), as well as binary options. In 2014 the broker also introduced execution-only stockbroking in the UK and Ireland, later rolling it out to the Netherlands and Germany.

The IG Markets also owns the North America Derivatives Exchange (Nadex), the premier and largest regulated online US exchange, offering binary options and spreads.

In addition, the group is listed on the London Stock Exchange and the FTSE 250. In fact, it is currently the largest forex broker listed on the LSE in terms of market capitalization.

Its UK head office is located in the heart of the City of London, and the group has sales offices in 15 other countries.

IG is a trading name of IG Markets Ltd. and IG Index Ltd, authorized and regulated by UK’s Financial Conduct Authority (FCA). For binary bets, IG Index Ltd. is also licensed and regulated by the Gambling Commission.

Security of Funds

UK’s financial watchdog is famous for applying strict requirements to brokerage firms. Licensed companies are required to comply with certain rules and procedures covering client funds, order execution, the minimum capital requirement of  €730 000, regular report filing, etc.

In relation to security of clients` funds, we would also like mention that FCA-regulated brokers fall under the umbrella of the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person, in case the company goes bankrupt.

Except got the two abovementioned firms, the IG Group has units regulated by the respective authorities in a number of countries.

Countries of regulation Regulator
UK FCA
Germany BaFin
Switzerland FINMA
Australia ASIC
New Zealand FMA
UAE DFSA
Japan JFSA
Singapore MAS

Trading Conditions

Minimum Initial Deposit

Clients of IG are not required to deposit a certain initial amount in order to open an account with IG, however, they have to fund their accounts in order to initiate a trade. For instance, in order to buy 1 lot GBP/USD (1 contract is £100,000 and the margin rate is 0.5%), one has to deposit at least £500.

Trading Platforms

This broker offers a selection of robust platforms: its proprietary IG platform, web-based ProRealTime, a special DMA platform – L2 Dealer, as well as the industry’s standard MetaTrader 4 (MT4).

The web-based ProRealTime has a customizable layout and is equipped with several charting packages, Over 100 indicators covering everything from price to volatility, automated trade options, and extensive historical data.

For those who want full market depth with Direct Market Access (DMA) for FX, share dealing and equity CFDs, IG offers the downloadable L2 Dealer platform. It provides greater liquidity on shares trading through access to primary exchanges, market makers, brokers, and MTF dark pools. With L2 Dealer, traders can place basket trades using the Excel-compatible ‘Watchlist Pro’ function, auto trade by using algorithms they have created in Excel and to make well-informed decisions due to the market-linked news feeds and live charts.

In addition, traders who are used to the good old MetaTrader 4, are able to use it with IG.

Methods of Payment

IG UK`s clients are able to make deposits and withdrawals via credit/debit cards or wire transfer. Popular e-wallets, such as BPay, China UnionPay and Paypal, are also available as payment methods with this broker.

Conclusion

Being part of a large international group with more than 40 years of experience in the industry, IG is a reliable and well-regulated broker, offering competitive conditions for trading in the wide range of financial instruments on several platforms.