IG Pros & Cons | Get Information at a Glance

 

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.

In this article we’re addressing the main pros and cons of IG in each broker aspect.

IG

Pros

Cons

Safety

  • Regulated by top-tier FCA
  • Negative balance protection
  • Over 45 years of trading experience
  • Biometric and two-factor authentication
  • Segregate client funds
  • Listed on LSE (London Stock Exchange)
  • None

Offering of Investments

  • Over 17,000 trading products
  • Forex and CFD trading
  • Real stocks and commodities trading
  • Options, futures, metals, and bonds trading
  • ETFs and crypto trading
  • Bot trading
  • Limited trading options for some countries

Account Opening

  • Islamic account option
  • Demo account option
  • Fully digital account opening process
  • No minimum deposits for bank transfers
  • Pro account option
  • None

Fees and Commissions

  • Low commissions
  • No deposit or withdrawal fees
  • No inactivity fee in the first 2 years of inactivity
  • High forex and CFD fees

Deposit & Withdrawal

  • Various base currencies
  • Various deposit and withdrawal options
  • Free deposits using bank transfers
  • Free withdrawal
  • Deposit fees using credit/ debit cards and PayPal

Platforms and Languages

  • Customized platform
  • Available on MT4
  • Available on Mac, Windows, Desktop, Web, Android, and IOS
  • Two-factor authentication
  • Beautiful UI
  • User-friendly
  • Good searching function
  • Price and notification alerts
  • Various order types
  • Touch/ Face ID
  • None

Research Tools

  • Trading ideas
  • Charting option
  • Economic calendar
  • Newsfeed
  • No fundamental data

Customer Service

  • Live chat support
  • Email support
  • Phone call support
  • 24/5 support
  • No 24/7 support

Education

  • Seminars
  • Webinars
  • Events
  • Articles
  • Glossaries
  • Demo account
  • None

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.

If you want more information, please check out IG Full Review.



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