IG Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IG is a top-tier choice for traders seeking best-in-class forex and CFD options. IG's broad range of offerings, combined with excellent educational resources, makes it a superb multi-asset broker for both seasoned traders and newcomers alike.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Extensive Offering: Provides access to 97 forex pairs and over 19,000 tradeable symbols.
- Highly Trusted: Publicly traded (LON: IGG) and regulated by an incredible eight Tier-1 jurisdictions.
- Education Commitment: Extensive resources for both beginners and advanced traders.
- Competitive pricing: Highly competitive fees with low spread costs and discounts for active traders.
Cons
- MetaTrader 5 Not Available: Despite its MT4 offering, it lacks support for MetaTrader 5, which has some more advanced features compared to its predecessor.
- No Copy Trading: Does not offer copy trading, a con for traders who wish to duplicate trading signals from other investors.
Ratings Summary
- Investment Types - 10/10
- Commissions & Fees - 9.5/10
- Trading platforms - 10/10
- Research - 10/10
- Mobile Apps - 10/10
- Education - 10/10
- Overall - 9.9/10
Can I trust IG?
Our research confirms that IG is highly trusted, backed by its public listing and authorisation by eight Tier-1 regulators, including ASIC, MiFID, and the FCA. Its Trust Score of 99 from ForexBrokers.com, the highest of any broker they review, underscores its reliability as a financial service provider.
IG is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Financial Markets Authority (FMA), Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system
- Tier-2 Regulators - Dubai Financial Services Authority (DFSA) and the Financial Sector Conduct Authority (FSCA)
- Tier-3 Regulators - None
- Tier-4 Regulators - Bermuda Monetary Authority (BMA)
Is IG good for beginners?
Given its extensive offerings in both advanced and beginner education videos alongside a dedicated educational section for forex and CFDs, IG is highly recommended for beginners looking to start their trading journey.
| Feature |
IG
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
IG commissions and fees summary
IG's commissions and fees structure offers competitive terms like an average spread cost of 0.98 on the EUR/USD pair, which is better than the industry average of 1.08. Additionally, discounts are available for active traders to lower costs even more.
| Feature |
IG
|
|---|---|
| Minimum Deposit | £250.00 |
| Average Spread EUR/USD - Mini | 0.98 |
| Average Spread EUR/USD - Standard | 0.98 |
| All-in Cost EUR/USD - Active | 0.82 |
| Active Trader or VIP Discounts | Yes |
IG trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
IG provides an industry-leading proprietary platform and supports MetaTrader 4, ensuring traders have access to powerful trading solutions.
Trading platforms offered: IG provides both a proprietary platform and MetaTrader 4, in addition to a few other specialty platforms like L2 Dealer DMA.
Trading tools: Offers a range of trading tools including advanced charting and automated trading options.
Copy trading: Does not offer copy or social trading.
| Feature |
IG
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| DupliTrade | No |
IG trading platform screenshots
Mobile trading apps at IG
IG offers excellent mobile trading applications, highly rated for functionality and user experience.
| Feature |
IG
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
IG mobile app screenshots
How do I open an account with IG?
- Visit IG’s website and click on the 'Create Account' button.
- Complete the application form with personal details.
- Verify your identity by uploading required documents.
- Fund your account through one of the accepted payment methods.
- Start trading after your account is activated.
What can I trade at IG?
IG offers a significant range of trading options with 97 forex pairs and 19,537 tradeable symbols, which is considerably above the industry average of 3,623 symbols.
| Feature |
IG
|
|---|---|
| Tradeable Symbols (Total) | 19537 |
| Forex Pairs (Total) | 97 |
| Social Trading / Copy Trading | No |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | Yes |
IG research screenshots
Account funding at IG
IG supports multiple funding methods including bank wires, PayPal, and credit cards. However, it does not support either Neteller or Skrill eWallets.
| Feature |
IG
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Neteller (Deposit/Withdraw) | No |
About IG
IG was founded in 1974 and has established itself as a leader in the online trading industry. It is a London-based publicly traded company (LON: IGG), listed and regulated by numerous top-tier financial authorities globally, which ensures a high level of trust and compliance. The broker offers a wide range of products including forex, CFDs, and stocks, combined with powerful trading tools and extensive educational resources, making it a preferred choice for both beginner and experienced traders.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
AI disclaimer
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.