IG Review

Active CFD and forex traders

BMA

Founded 1974 · IG Group Holdings Plc

Why investors choose this broker

No minimum balance for a CFD trading account
Free demo account with $20,000 virtual funds
Lower minimum deal sizes for the first 6 weeks
No commission to close listed options positions

Review summary

IG is a CFD-focused broker with forex, shares, ETFs, crypto, options and futures, plus web, Android and third-party platforms.

Pros

No minimum balance for a CFD trading account
Free demo account with $20,000 virtual funds
Lower minimum deal sizes for the first 6 weeks
No commission to close listed options positions
Futures positions have no overnight funding fees
Extended hours on over 90 key US stocks
Weekend trading on selected indices, FX pairs and crypto

Cons

0.8% FX conversion fee on non-base-currency CFD trades
2.3% third-party card processor charge
US share CFDs have a $15 minimum online commission
UK share CFDs have a £10 minimum online commission
Daily overnight funding applies to overnight CFD positions
$40/month ProRealTime fee unless conditions are met
Monthly fees can apply for exchange stock feeds
Demo trades exclude slippage, interest and dividend adjustments

Company background

IG is an online trading provider focused on CFDs and active market access. IG Group was established in London in 1974, and IG International Limited is part of the IG Group. Its ultimate parent company is IG Group Holdings Plc. The broker offers access to forex, indices, shares, commodities, cryptocurrencies, ETFs, bonds, options and futures. It also lists corporate accounts and a demo account for practising before using a live account.

Fees and pricing

IG's main CFD trading cost is the spread, or commission in the case of share CFDs and Forex DMA. The broker lists spreads as low as 0.1 points, EUR/USD from 0.6 points and gold from 0.3 points. Share CFD commissions include 2 cents per US share with a $15 online minimum, 0.10% for UK shares with a £10 online minimum, 0.18% for Hong Kong shares with a HKD50 online minimum and 0.10% for Euro shares with a €10 online minimum.

Other explicit costs include a 0.8% currency conversion fee for CFD trades in a currency different from the account base currency, a 2.3% third-party card processor charge, overnight funding on positions held overnight, monthly fees for certain exchange stock feeds and a $40 per month ProRealTime fee unless conditions are met. Listed options cost $1.00 to open per contract and $0 to close per contract. Micro futures are listed from $0.85 to open and $0.85 to close.

Regulation and safety

IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. Client money is held in segregated accounts at regulated banks, is not used for IG's own business activity and is ring-fenced from IG's creditors.

Platform experience

IG offers a web platform, an Android trading app and a mobile web platform for iOS. It also supports MT4, MT5, TradingView, ProRealTime, L2 Dealer and APIs. The demo account provides $20,000 in virtual funds and lets users practise with a version of the online platform.

Pros and cons

IG gives active traders several specific benefits, including a free demo account, lower minimum deal sizes for new CFD accounts, no commission to close listed options positions, and extended-hours trading on selected US stocks. The main drawbacks are the specific trading and platform costs, including FX conversion, overnight funding, minimum share CFD commissions, third-party card processor charges and live data fees.

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Trading fees & commissions

IG's main CFD trading cost is the spread, or commission for share CFDs and Forex DMA. Explicit charges include a 0.8% currency conversion fee for CFD trades in a currency different from the account base currency, a 2.3% third-party card processor charge, overnight funding on positions held overnight and monthly fees for some live share prices or DMA data.

Fees

Item	Fee
Dma	Free for forex and share CFDs, but a monthly fee applies for accessing live DMA prices for some shares
Cfds	Spreads as low as 0.1 points
Crypto	No commission charge for crypto CFDs; spread charged instead
Futures	Micro futures from $0.85 commission to open and $0.85 commission to close
Options	$1.00 commission to open per options contract; $0 commission to close per options contract
Commodities	Gold from 0.3 points; Brent Crude undated markets from 2.8 points
Prorealtime	$40 per month fee applies unless conditions are met
Fx Conversion	0.8% fee applies for CFD trades in a currency different from your account's base currency
Guaranteed Stop	A fee applies when you have a guaranteed stop attached to your position; refunded if not triggered
Live Price Data	Monthly fees for certain exchange stock feeds on a CFD account
Minimum Balance	No minimum balance required to create a CFD trading account
Overnight Funding	Daily interest fee if you hold a position overnight
Third Party Card Processor	2.3% of the transaction amount

Trading platform & features

Platforms

Web app
Android app
Mobile web platform for iOS
MT4
MT5
TradingView
ProRealTime
L2 Dealer
API

Regulation and investor protection

Broker FAQs

Is IG safe?

IG International Limited is licensed by the Bermuda Monetary Authority. Client money is held in segregated accounts at regulated banks and is ring-fenced from IG's creditors.

Is IG a scam?

No. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority, and IG Group was established in 1974.

Is IG regulated and by whom?

IG International Limited is licensed by the Bermuda Monetary Authority to conduct investment business and digital asset business.

What happens to my money if IG goes bankrupt?

IG says client money is held in segregated accounts at regulated banks and is ring-fenced from its creditors. IG also says it does not use client money for its own business activity.

Does IG keep client funds in segregated accounts?

Yes. IG says money deposited into an IG account is held in segregated accounts at regulated banks.

What products does IG offer?

IG offers CFDs on forex, indices, shares, commodities, cryptocurrencies and ETFs. It also lists bonds, options, futures, interest rates, knock-outs, thematic and basket markets, and corporate accounts.

Does IG offer ETFs?

Yes. IG lists ETFs and says clients can choose from 5,400+ ETFs across a range of markets.

Does IG offer crypto?

Yes. IG offers cryptocurrency CFDs and says there is no wallet required. Crypto CFDs have no commission charge, with the cost charged through the spread instead.

Does IG offer options?

Yes. IG offers options trading. Listed options cost $1.00 commission to open per options contract and $0 commission to close per options contract.

Does IG offer futures?

Yes. IG offers futures trading through CFDs on underlying futures contracts and listed futures through its partnership with tastytrade. Micro futures are listed from $0.85 commission to open and $0.85 commission to close.

What does IG charge for stock trades?

For share CFDs, IG lists US shares at 2 cents per share with a $15 online minimum, UK shares at 0.10% with a £10 online minimum, Hong Kong shares at 0.18% with a HKD50 online minimum and Euro shares at 0.10% with a €10 online minimum.

What is IG's currency conversion fee?

IG lists a 0.8% currency conversion fee for CFD trades in a currency different from the account's base currency.

What is the minimum balance at IG?

IG says there is no minimum balance required to create a CFD trading account.

Does IG have a demo account?

Yes. IG offers a free demo account with $20,000 in virtual funds to practise with.

Does IG have a mobile app?

Yes. IG offers an Android trading app and a mobile web platform for iOS.

Which platforms does IG support?

IG lists its web platform, Android app, mobile web platform for iOS, MT4, MT5, TradingView, ProRealTime, L2 Dealer and APIs.

How do I open an account at IG?

IG describes a three-step process: answer some questions, verify the account, and then fund the account to start trading. Verification can usually be done instantly.

Is IG good for beginners?

IG provides a demo account with $20,000 in virtual funds, IG Academy and reduced minimum deal sizes for new CFD accounts. Demo trades do not include slippage, interest and dividend adjustments or out-of-hours price movements.

Is IG good for day trading?

IG supports active trading through CFDs, forex, web and Android platforms, MT4, MT5, TradingView, ProRealTime, L2 Dealer, APIs, alerts and extended-hours trading on selected US stocks.

Bottom line

IG suits active traders who want CFD access, listed options and futures, and a choice of web, Android and third-party platforms. It may not suit users who want a simple long-term investing account or who want to avoid FX conversion, overnight funding, live data and platform-related fees.

Active CFD and forex traders

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Your capital is at risk. Other fees apply.