IG Platforms | How IG Platforms Work

Introduction

IG is one of the biggest forex and CFD brokers in the industry with over 45 years of experience since 1974 and about 239,000 clients worldwide. It has a long tracking record and is regulated by top-tier financial authorities like FCA, the Financial Conduct Authority in the UK. It also has over 17,000 products for trading including forex, CFDs, ETFs, commodities, and more. With free withdrawals and deposits, IG becomes one of the best choices for you to start trading on.

IG works on its customized IG platform as well as the MetaTrader 4 platform. Unfortunately, IG does not work on its nearer version, the MetaTrader 5.

In this section we will discuss the IG and the MT4 trading platform in detail.

IG Web AApplication

Pros

Cons

  • Beautiful UI
  • User-friendly
  • Good searching function
  • Price and notification alerts
  • Various order types
  • No two-factor authentication

Languages

The web trading platform is available in a number of languages including major languages like English, French, Japanese, Spanish, and more.

User interface (UI)

The UI of the web trading platform is easy to use and you can find the information you want in its right place without any effort. The navigation within the platform looks nice, especially that you can do anything on the same page without going to any other page.

IG Platforms | How IG Platforms Work

IG – Web Platform – UI

Login and Security

Unfortunately, the web platform supports only a one-step verification with the username and password to login to your account dashboard.

IG Platforms | How IG Platforms Work

IG – Web Platform – Login

Searching

The searching function works fine. And even if you type the wrong asset name, it will show it for you for simplicity.

IG Platforms | How IG Platforms Work

IG – Web Platform – Search

Placing orders

IG have 5 main types of orders on its web platform which are:

  1. Market order
  2. Limit order
  3. Stop-loss order
  4. Trailing stop order
  5. Guaranteed stop order

IG Platforms | How IG Platforms Work

IG – Web Platform – Place Order

Notifications and alerts

With a variety of alerts and notification types, you can set price, automated, and much more alert types on the web platform.

IG Platforms | How IG Platforms Work

IG – Web Platform – Alerts and Notifications

Portfolio and reports

You can have a clear look of your account and its performance through clear fee and portfolio reports by going to the ‘History’ tab in the bottom left corner of your dashboard.

IG Mobile Application

Pros

Cons

  • Beautiful UI
  • Two-step verification
  • Biometric verification using Touch/ Face ID
  • Reliable searching function
  • Various order types
  • Notifications and alerts available
  • None

Languages

The IG Mobile Application is available in a number of languages like the web trading platform with the support of major languages like English, German, Spanish, and more.

The changing of language is a little bit tricky as you change it while you create your account and select the country of residence.

IG Platforms | How IG Platforms Work

IG – Mobile Application – Languages

User interface (UI)

The UI of the mobile application looks nice and easy for beginners as well as the professional traders. You can find each function in its right place easily and use it perfectly without errors.

IG Platforms | How IG Platforms Work

IG – Mobile Platform – UI

Login and security

IG has a great and safe login using the two-step verification method using both email and password along with the biometric verification using your Touch/ Face ID.

IG Platforms | How IG Platforms Work

IG – Mobile Platform – Biometric Authentication

Searching

Like the web application platform, it has a very good searching function with the ability to search for categories as well as the asset name and find them easily.

IG Platforms | How IG Platforms Work

IG – Mobile Platform – Search

Placing orders

Same as the web platform, there are 5 types of orders which are:

  1. Market order
  2. Limit order
  3. Stop-loss order
  4. Trailing stop order
  5. Guaranteed stop order

IG Platforms | How IG Platforms Work

IG – Mobile Platform – Place Orders

Notifications and alerts

IG mobile application platform has the notification and alerts feature that helps you set alerts for a variety of things like prices and other kinds of signals as well.

IG Platforms | How IG Platforms Work

IG – Mobile Platform – Signals

 

MT4 Platform

Pros

Cons

  • Available on Windows / Mac / Web / Android / IOS
  • Order confirmation
  • Customizable charts
  • Available in a number of languages
  • Easy to use
  • Ability to social trade
  • Good searching functions
  • Notifications and price alerts on Desktop and Mobile versions
  • Lacks two-step verification
  • Old desktop design
  • No price alerts in web version

Languages

MetaTrader 4 is available in a number of languages like:

MT4 Languages

Arabic

Bulgarian

Chinese

Croatian

Czech

Danish

Dutch

English

Estonian

Finnish

French

German

Greek

Hebrew

Hindi

Hungarian

Indonesian

Italian

Japanese

Korean

Latvian

Lithuanian

Malay

Mongolian

Persian

Polish

Portuguese

Romanian

Russian

Serbian

Slovak

Slovenian

Spanish

Swedish

Tajik

Thai

Traditional Chinese

Turkish

Ukrainian

Uzbek

Vietnamese

 

User interface (UI)

MT4 has a very customizable UI that you can adjust according to your needs and preferences. On the other hand, it seems hard to find some of the features inside.

IG Platforms | How IG Platforms Work

MT4 – Mobile Version – UI

Login and Security

Unfortunately, the MT4 does not provide a two-step verification method for logging in, and it does only support a one-step login.

Searching

Searching using the MT4 platform has two different options:

  • You can search by categories and find assets.
  • You can also type the name of the asset and search for it manually.

IG Platforms | How IG Platforms Work

MT4 – Mobile Platform – Search

Placing orders

MT4 has a simple order types which are:

  1. Market
  2. Limit
  3. Stop
  4. Trailing stop

In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good ’til canceled’ (GTC).

There’s also an order confirmation feature in MT4.

Notifications and alerts

Unfortunately, the MT4 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

IG Platforms | How IG Platforms Work

MT4 – Mobile Version – Notifications Settings

Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

IG Platforms | How IG Platforms Work

MT4 – Mobile Version – Portfolio

3. FAQs

  1. How long does it take to verify my account?
  • It takes about 2 to 3 business days to verify your IG account.
  1. Does IG give cash rebates?
  • Yes. For pro traders only.
  1. Can I open more than one trading account?
  • Yes. You can open another account by Simply logging in to My IG. Click one of the ‘add an account’ links on the dashboard and then choose the account you want from the pop-up.
  1. Does IG allow bot trading?
  • Yes, IG allows you to use trading bots in order to trade on behalf of you.
  1. Does IG provide a mini account?
  • Yes, it does provide a mini account with lower values for trading.
  1. Does IG give a bonus?
  • Unfortunately, IG does not provide any bonuses or promotions.
  1. Does IG allow scalping and hedging?
  • IG does allow scalping, but on the other hand it does not allow hedging.
  1. Can someone else trade on my behalf on IG?
  • Yes. You can allow someone else to trade on your CFD account by granting them power of attorney (POA).
  • The person you nominate must also hold an account with us. If they don’t already, they can apply online.
  • You can email the completed form to helpdesk.en@ig.com. IG aims to have the POA set up on the same day as received it, however it can take longer. Ensure all information has been filled out on the form, as this will help prevent delays.
  1. Where is my money held?
  • In segregate bank accounts
  1. What happens to my money if IG goes into liquidation?
  • In the unlikely event of this happening, all the clients would have their share of the segregated money returned, minus the administrators’ costs in handling and distributing these funds.
  1. What happens to my funds if the bank which holds my funds goes insolvent?
  • As all deposits lodged with us are held on trust for you in a regulated trust account, in such circumstances those deposits would attract all the legal protections afforded to trust money.
  1. How to enable the swap-free option in my account?
  • By emailing IG at helpdesk.ae@ig.com with instructions to do so. IG will email you back once this has been done.
  1. How do I login using the MT4 mobile platform?
  • Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account’

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

  1. Why can’t I see all IG markets on MT4?
  • MT4 is limited as to how many markets it can show. Currently, IG shows forex, indices and some commodities, with a view to expand on these soon. To make sure you have the most up to date product offering, all you need to do is right click in the ‘marketwatch’ window and then select ‘show all.’
  1. When will my demo account expire?
  • After 2 months.
  1. When trading forex, will you lose more than your initial deposit?
  • Yes. All trading involves risk. Losses can exceed deposits.
  1. Can I login to more than one account from the same computer?
  • Yes, you can do such a thing by using the MT4 Multi Terminal.
  1. Can I login to the same account through different devices?
  • Yes, you can login to the MetaTrader 4 platform using the same password and username through different devices.
  1. Does IG accept payments from third parties?
  • No. Payments should be under your name.


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