IG Review

Overview

IG is one of the oldest names in retail trading. It was founded in London in 1974 as the world's first spread betting firm and has grown into a listed financial technology group. IG Group Holdings plc describes itself as a FTSE 100 company with more than 1.3 million customers, around 21,000 markets and operations in 19 countries. Alongside the core IG brand, the group owns tastytrade, Freetrade and the crypto exchange Independent Reserve, as well as the DailyFX research site.

For forex traders, IG combines a large proprietary platform, deep market coverage and some of the strongest regulatory credentials in the industry. It also claims to be the world's leading CFD provider by revenue.

Regulation and client protection

IG is licensed in more jurisdictions than almost any other retail broker. In the UK, IG is a trading name of several companies authorised by the Financial Conduct Authority:

• IG Markets Ltd (CFDs) – FCA register number 195355
• IG Index Ltd (spread betting) – FCA register number 114059
• IG Trading and Investments Ltd (share dealing, Smart Portfolios) – FCA register number 944492

Outside the UK, group entities are supervised by regulators including ASIC in Australia, the MAS in Singapore, the JFSA in Japan, the FMA in New Zealand, FINMA in Switzerland, the FSCA in South Africa and the DFSA in Dubai. International clients not covered by a local entity are usually served by IG International Limited, licensed by the Bermuda Monetary Authority. In the United States the group operates separately through tastyfx (forex, CFTC-regulated) and tastytrade, while ig.com itself is not directed at US residents.

UK client money is held in segregated trust accounts spread across several banks. If IG were to fail, eligible UK clients could claim from the Financial Services Compensation Scheme for shortfalls up to £85,000. Retail clients also receive negative balance protection on trading losses. Protections are lighter for clients of the Bermuda entity, which is worth bearing in mind if you are onboarded there. In the sources reviewed for this article we did not find recent regulatory penalties against IG.

Fees and spreads

IG's standard forex pricing is spread-only, with no separate commission on currency CFDs or spread bets. Independent tests have recorded EUR/USD spreads as tight as 0.6 pips, and measured averages sit around 0.9 pips, which is competitive for a commission-free account. Active traders can use Forex Direct, IG's direct market access offering, where reviewers report raw spreads averaging around 0.5 pips plus a commission starting at about $6 per $100,000 round turn and falling at higher monthly volumes.

Other costs to know: overnight funding on leveraged positions, a premium for guaranteed stops, commissions on share CFDs, a monthly inactivity fee after two years without trading, and an optional subscription for the ProRealTime platform that can be waived with enough trading activity.

Accounts and markets

IG's product shelf is unusually broad. Depending on country, clients can open CFD accounts, UK spread betting accounts, share dealing accounts, Smart Portfolios and options, plus a Forex Direct account for DMA pricing. Professional status is available to qualifying traders. Free demo accounts are offered for CFD and spread betting.

The forex offer covers close to 100 currency pairs, and the wider list includes indices, commodities, bonds, thousands of share CFDs and more than 12,000 shares and ETFs for unleveraged investing. Crypto CFDs are not available to UK retail clients. Leverage is capped at 1:30 on major pairs for UK and EU retail clients, while IG International offers up to 1:200. There is no dedicated Islamic account in most regions.

Platforms and tools

IG's own web platform and mobile apps are the centrepiece, offering advanced charting, integrated news, Autochartist and other signal services, price alerts and a large set of order types. Traders who prefer third-party software can use MetaTrader 4, TradingView, ProRealTime or L2 Dealer for DMA share and forex trading. MetaTrader carries a narrower instrument list than the proprietary platform.

Research is a strength, with in-house analysts, DailyFX content and the IG Academy for education. IG does not offer native copy trading, and OCO orders are not supported on its web and mobile platforms.

Deposits and withdrawals

Accounts can be funded by debit or credit card, bank transfer and, in some regions, PayPal and Apple Pay. On the international site, card deposits start at $50 per payment and bank transfers have no minimum, with bank transfer recommended for larger sums. Skrill, Neteller and Google Pay are not supported according to independent testing.

Who it suits

IG fits traders who place regulation and longevity at the top of their list, UK residents who want tax-efficient spread betting, and active traders who want a powerful proprietary platform with thousands of markets under one login. It is less suited to traders who rely on copy trading, need Islamic accounts in most regions, or want the very lowest raw-spread pricing on MetaTrader.

Verdict

With more than five decades of history, a listing on the London Stock Exchange, FCA authorisation for its UK companies and licences across major financial centres, IG is among the most trustworthy brokers available. Its pricing is competitive, its platform is excellent and its market range is vast. The main gaps are copy trading and some fee complexity on non-forex products. Learn more on the official IG website.