Overview/ Background
IG has been in the game for over 40 years. This expert financial services provider features as the world’s premier Forex trading, spread betting and contracts for difference trading entity. Among others, traders will be able to access top-tier technology with a wide range of innovative features. The stockbroking service allows you to engage with professionals across the board, with a wide range of forex trading instruments and spread betting facilities. Plus, traders have access to 24/7 professional customer support services with a client services team second to none. Among others, the stockbroking options provide traders with over 6,000 stocks globally, from as little as £6 per trade. There are also tax-free spread betting options, corporate accounts and CFD trading with a wide range of tradable platforms to boot. In total, there are some 10,000 global markets. IG Markets Ltd offer spread betting services that are provided by IG Index Limited. The company is registered in England and Wales with the following registration number: 04008957 (IG Markets Ltd).
Account Types
IG offers traders quick and easy access to accounts, and registration can be completed within 5 minutes. Additionally, traders are not required to deposit funds or to even trade once they have registered an account. The free demo account is a great way to practice with CFDs, indices, commodities, IPOs, Bitcoin, binaries, shares, forex, options and other market trading activity. To get started with an account, there are 3 steps to complete:
1 – Complete the Form (usually within 3 minutes)
2 – Add Funds to Your Account (via bank transfer, credit card or debit card)
3 – Make your First Trade (use the trading tools on site and place your trade within seconds)
The account creation process at IG allows you to open up a spread betting account, a stockbroking account and a CFD trading account with the same username/password. It is also possible to initiate a free trial without going through the entire registration process; this is known as a demo trading account and it allows you to practice with £10,000 in virtual finds, under simulated trading conditions, and it’s available on mobile smartphones and tablets via an app and it is tailored to suit your personal trading style, along with live prices, charts and other trading features. There are some key differences between the demo account and the real money account, notably the lack of slippage. There is also no option for trades to be rejected on the demo account and there are no charges for various chart packages either. IG offers traders the option of a corporate account as well. The corporate account requires traders to contact IG via telephone or e-mail to set it up.
Trading Platform/Software
The IG trading platforms include trading apps, advanced platforms and web-based platforms. Accounts can be opened within 5 minutes, and there are no requirements for traders to add real money to the MetaTrader4 trading accounts. The trading platform and the associated software include the following:
- Risk Management Tools
- Automated Trading Functionality
- Direct market access with L2 Dealer
- Charts for mobile, desktop and tablet
- Analytical Tools for traders in the form of signals
- Various Trading Alerts for mobile and desktop use
- Full News Coverage allowing traders to trade the news
- Execution and Pricing for maximum effectiveness in trading
- ProRealTime charting packages with a wide range of indicators, data and strategies
The award-winning trading platform at IG is 100% browser-based. The apps are designed for use on mobile smartphones, tablets and phablets. The sophisticated technology allows you to access thousands of markets across multiple devices, and there is full integration of APIs and terminals.
Deposit Options
There are several ways to fund your account at IG, including debit cards and credit cards, as well as bank transfer. It is also possible to use business cards or commercial cards. However traders must bear in mind that payments are only allowed to be made from the account holder – no third-party payments will be accepted whatsoever. In the UK, payments options that are accepted include Irish Laser Cards, Switch Cards, Maestro Cards, Electron Cards, Solo Cards and UK Visa Cards. Credit card payments incur a 1.5% fee and non-UK debit cards incur a 1.5% fee. Prepaid cards may be subject to additional fees by the provider. Bank transfers are possible, but it can take up to 4 business days for account payments to be transferred. One of the many features available at IG includes the fact that you can use your Android and iOS apps to add funds to your account.
Markets
There are multiple markets available at IG including indices, binaries, forex and shares, but there is also Bitcoin trading, commodities, interest rates, options, bonds and even Sunday trading. Combined, there is a wealth of tradable options across CFD and spread betting markets. All of the action takes place on MetaTrader 4 and all trades feature low margins, high-speed, better pricing and maximum stability. In total, there are some 10,000 global markets available to traders with 4,400 international shares available through the stockbroking services.
Bonuses
Not applicable.
Customer Support
Customer support is available with the help and support page where you can type in your queries and receive instant responses. Help is available in multiple areas including use of trading platforms, technical assistance, chart support, market information, payments-related information, account management and so forth. There are several ways for existing clients to contact IG, including the following:
- Freephone: 0 800 409 6789
- International: 44 2078960079
- Ireland: 1 800 995 364
The help desk operates 24/5 and 9 AM – 5 PM Saturdays/Sundays.
As a new client, you can contact IG support from 8 AM – 9 PM Monday to Friday, at the following telephone numbers:
- Freephone: 0 800 1953 100
- International: 44207635300
- Ireland: 1 800 995362
The head office is located in London and there are offices in Dublin and worldwide. LiveChat is also available too.
Safety
Safety is the number one concern for traders and SSL technology and highest encryption protocols guarantee the security of all personal and financial information on site. Client safety is protected by way of segregated accounts at IG. All retail funds held by clients are in a segregated Client account, according to the FCA and IG utilizes its own funding sources for hedging purposes. IG is in full compliance of all FCA rules and auditing procedures.
Ease of Use
For such a diverse online trading platform, IG certainly offers a user-friendly trading arena for clients. It is easy to create an account, or to get started with the free demo account. The entire process can take place in 5 minutes. Information is readily accessible and available and the services provided by this financial spread betting and CFD company are top tier.
Final Thoughts
Overall, IG is a juggernaut in the financial trading industry. As at May 2013 IG had a market capitalisation of £2.1 billion with capital resources for the year ending May 31 of over £386.4 million. It is listed on the LSE and features a wide range of 10,000 markets with thousands of stocks, indices, currencies, binaries and other tradable options available. IG is completely customer friendly and geared towards maximum user-friendliness for traders across the spectrum.
