Thadeus Geodfrey and finance are inseparable. He is a versatile expert with a strong cryptocurrency and market analysis background. Thadeus provides a unique blend of technical and strategic insights as a seasoned financial writer. His overarching probe and attention to detail inspire the InvestingGuide community. He guides you through the continuously evolving market landscape to build solid investments or make successful trades.
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We’ve dissected many brokers over the years and can confidently classify IG Markets as one of today’s most outstanding options. We spent a significant chunk of valuable time testing and evaluating this platform, and the results were anything but disappointing. Countless elements impressed our experts, including IG Markets’ rich selection of financial instruments and advanced trading platforms.
Before you sign up with IG Markets UK, read this review carefully. It has everything you need to know to decide whether this broker is suitable for you. Also, if you are a novice, use a demo account to vet IG Markets and test your trading skills before exposing your capital to the risks of live trading.
In This Guide
Our Opinion about IG Markets
Based on the outcomes from our exploration, the IG Markets broker deserves to be on the list of the best service providers in the UK. But, despite having so many admirable qualities, this service provider has a few shortcomings. But that’s nothing to fret over. After all, every trading platform has its strengths and drawbacks.
We’ve listed some IG Markets’ pros and cons below.
IG Markets
✔Zero minimum deposit requirements
✔17,000+ available products
Pros & Cons
Pros
- It’s authorised, registered, and regulated by many organisations, including the FCA and the CFTC
- Zero minimum deposit requirements
- Offers coverage of up to £85,000 against insolvency and bankruptcy
- A rich selection of products from 17,000+ markets
- No additional broker fees for deposits and withdrawals
- Top-tier trading platforms, including MT4 and ProRealTime
- Dormant accounts don’t incur inactivity fees
Cons
- Stringent eligibility requirements for pro services, including a portfolio exceeding €500k
- Fewer third-party trading platforms compared to other pacesetters
Security & Regulations
We highly recommend IG Markets UK to Britons searching for a secure trading platform for numerous reasons.
First, this broker is licensed by the highest authority in the United Kingdom, the FCA. Consequently, it complies with numerous rules and standards designed to protect you, a trader. For instance, it segregates investor funds from company resources. Also, as a member of the FSCS, IG Markets guarantees that each eligible client will receive compensation of up to £85,000 in case of insolvency.
IG Markets is also authorised and supervised by multiple authorities in other regions. For instance, it’s authorised to act as a securities dealer by FINMA in Switzerland. Furthermore, the broker is registered with the DFSA, the JFSA, and ASIC in Dubai, Japan, and Australia, respectively.
Additionally, IG Markets uses 256-bit SSL encryption to secure all financial transactions and communications between your device and company servers. Also, you boost security by setting a strong password and activating two-factor authentication while trading with this platform. If you don’t want to use a password, you can opt for biometric login and augment security with 2FA.
Platforms
IG Markets has a clean, uncluttered website. It’s simple and easy to get around. As experts in our domain, we consider this trading platform ideal for both novices and experienced traders. Simplicity aside, we discovered numerous platforms hosted on IG Market’s official website. They include:
- Web platform: IG Markets’ web-based platform allows you to start trading without installing any app. It has a clear, intuitive design that fosters seamless navigation. This platform gives you instant access to diverse financial instruments, market prices, and more.
- Mobile trading apps: This broker offers mobile apps for iOS and Android gadgets. With the IG Markets trading app, you can access over 17,000 markets. You can also open, edit, close, and monitor all your positions on the go. These apps have indispensable risk management tools, advanced charting features, live alerts, and more.
- MetaTrader 4: IG Markets users get the opportunity to harness algorithmic trading with MT4. With this platform, you can do everything from betting on spreads to trading CFDs. You can also trade on the go with MT4’s mobile app and link any existing MT4 account with a new IG Market’s UK trading account.
- ProRealTime: This is a powerful web-based charting package that enables you to automate trading and analysis. It comes with 100+ indicators and allows you to build custom algorithms. IG Markets is the only UK broker that hosts this exceptional solution.
- L2 Dealer: This is IG Markets’ DMA (direct market access) platform. It allows users to deal shares and trade CFDs on stocks and forex products through the order books of the most reputable international exchanges. With L2 Dealer, you can also compare market sentiment, enter auctions, and assess the liquidity of different markets with volume metrics.
Fees & Commissions for UK Traders
Opening an IG Markets account doesn’t cost a dime. Moreover, this broker has no minimum deposit, so you don’t have to worry about compromising your budget. You can also enjoy significant savings by trading with IG Markets since it offers tight spreads, starting from 0.1 points on commodities and 0.6 points on popular currency pairs.
With that in mind, IG Markets charges overnight funding for cash CFD positions and daily funded bets (DFBs) that remain open past 10 pm UK time. The broker also requires traders to cover a small guaranteed stop fee. The fee kicks in every time the guaranteed stop feature is triggered. You should also expect to incur additional when shorting stocks and augmenting your trading experiences with premium services like live data streams.
Luckily, deposits and withdrawals are free on IG Markets. The broker only requires traders to pay a 0.5% standard currency conversion fee. Furthermore, the platform has zero inactivity fees, though your account will be terminated if it remains dormant for 24 consecutive months.
Product Offerings
You can engage in spread betting and trade CFDs across 17,000+ markets as an IG Markets user. Some of the product offerings available on this platform include:
- Forex: You can trade 80+ FX pairs on IG Markets, from GBP/USD and EUR/GBP to USD/CHF and EUR/JPY. These come with margins as low as 0.45% for professional account holders.
- Indices: This spread betting and CFD trading broker offers access to 80+ indices, including FTSE 100, US 500, and Germany 40. Retail traders can enjoy leverage of up to 1:20 while trading indices on IG Markets.
- Shares: With IG Markets, you can seamlessly invest in company stocks or trade shares. Over 12,000 shares are offered here, including products linked to popular companies like Apple, Microsoft, and Tesla.
- Commodities: IG Markets offers diverse commodities, from zinc and iron to cobalt and lead. You can speculate on their prices and enjoy spreads as low as 0.6 pips.
- ETFs: IG Markets offers traders unmatched access to 5,400+ ETF markets related to currencies, commodities, and more. These products are ideal for diversification since a single trade exposes you to multiple assets.
- Thematics: You can use IG Markets to trade and invest in thematics like AI, inflation, and robotics. These are unique products that very few UK brokers offer.
- IPOs: IG Markets is the only reputable UK broker that allows users to speculate before, during, and after an IPO. In other words, this broker lets you open a position before an IPO, participate in the IPO, and speculate on the stock prices after the involved company is fully listed.
- Bonds: With this broker, you can earn returns from investing in dividend-paying ETFs or speculating on bond prices. The IG Markets trading platform offers numerous popular bonds, including BUND, Japanese Government Bond, and Schatz.
- Interest rates: You can trade local and global interest rates with IG Markets. Available products include Euribor, SONIA, and Eurodollar.
- Options: IG Markets supports options trading. As a registered IG Markets user, you can trade options with CFDs or spread bets and enjoy perks like zero closing spread.
- Futures: You can trade a wide variety of index futures, commodity futures, and bond futures on IG Markets. Popular products include index futures like FTSE 100 and commodity futures like spot gold.
IG Markets Support Service
Suppose you have a question. In that case, you can source a fitting answer from the articles published on IG Markets’ Help and Support page. You can also forward urgent queries and concerns to IG Markets’ support team, available 24/5. This broker supports numerous communication channels, including phone, live chat, WhatsApp, and email.
We tested the quality of support offered by IG Markets and were impressed. Our questions were answered promptly and skillfully.
How to Sign up For an Account at IG Markets
You should worry about lengthy and complicated registration. IG Markets has simplified the process to a few manageable steps that even a newbie can manoeuvre quickly. If you are ready to open a live account, here’s what you need to do:
Step 1: Visit the IG Markets UK official site
Step 2: Start the registration process
Step 3: Verify your identity and address
Step 4: Make a deposit
Step 5: Trade
Before diving in, go to IG Market’s official website and conduct an exhaustive assessment. Check if everything suits your needs and preferences. You also read the broker’s terms and conditions. If you want to trade on the go, download the IG Markets mobile app.
Start the registration process by clicking “Create live account.” Fill out the application form with the correct information, including your full name and email address. Most importantly, create a strong, highly secure password for protecting your account and assets.
Verify your identity with a copy or photo of your driving license or passport. Also, verify your address with a recent credit card bill, bank statement, or any other supported document. Wait for verification, which should take a few hours, tops.
IG Markets supports numerous payment methods, including credit/debit cards and bank transfers. Pick the most convenient option for funding your account. You can start with the smallest amount possible if you are a novice since this broker has no minimum deposit requirement.
Choose an instrument from IG Markets’ impressive list of over 17,000 markets and start trading. Remember to keep your emotions in check and do extensive research before opening every position. Additionally, minimise losses with the best risk management tools and strategies.
Conclusion
IG Markets is a multi-regulated broker that offers most of the aspects you need to thrive, from excellent trading platforms to a wide variety of securities. But you shouldn’t take our word at face value. Besides reading our IG Markets review, do your own research, test the available platforms with demo accounts, and read testimonials on popular sites like Google Play and Trustpilot. That way, you can make the best decision from a vast pool of insights and first-hand experience.
InvestingGuide Rating:
✔Zero minimum deposit requirements
✔17,000+ available products
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Risk Warning
74% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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