IG Review 2017

IG Review

IG Review

If you’re looking for a safe and reliable way to enter the world of CFD trading, you won’t find a much better broker than IG. This huge company has been around for over 40 years (they were founded in 1974) and today it has offices all around the world and tens of thousands of satisfied clients. The broker offers loads of interesting features to all traders who sign up with them, which is why we decided to go ahead and write our IG review. After trading on their website, our team has loads of impressions to share with you, something you really don’t want to miss if CFDs are your thing. Stick around to find out why this company has managed to stay afloat for decades.

IG Review | Trading platform

We’ll start things off in this IG review with the broker’s trading platform. It is completely web-based, so you don’t have to download anything when you want to trade on it. Essentially, all you need is an internet browser. When you get to the IG trading platform, you will be pleasantly surprised with how customizable it is. You can move everything on your screen around very easily so that the screen’s layout is always 100% to your liking, but you can also construct your watchlists and manage them without any problems. These help you keep track of the assets that interest you the most. Furthermore, we must also say that the assets are very easy to browse and that the deals are essentially closed with just one click because the tickets are crystal clear and do not burden you with any unnecessary information. What we particularly liked about IG web-based trading platform is the fact that you have the option to set alerts, limits, and stops, which means that you can easily automate everything and then tend to your other duties. Finally, ProRealCharts are another interesting feature of this platform, but they are not available right away. You have to execute at least four transactions in a month to be able to use them, otherwise, a 30£ fee will be asked of you. Apart from this, there are loads of other high-tech tools and indicators available to you, including the price improvement technology which notifies you when a better price appears on the market. But what if you don’t have the time to sit in front of your computer? Well, we’ll discuss that in the following part of our IG review.

IG Trading Platform

IG Trading Platform

IG Review | Mobile app

No serious broker can allow itself to be without a mobile app these days, but IG really excels in this respect. You see, IG mobile app is available for literally all mobile devices: Android-, iOS- and Windows-powered smartphones and tablets. Naturally, the trading app is completely free, so all you have to is head to your app store and download it. Once you do that, a world of trading opportunities will open in front of you because the number of options you get with this product is (once again) really impressive. You can trade thousands of assets; you can monitor the situation on the markets, examine everything, customize your interface and even receive news from Reuters (naturally, this is available on the desktop platform, as well). Just like everything else on the broker’s website, the IG mobile app is also protected with a 256-bit SSL encryption system, meaning you can rest assured every piece of data that leaves your smartphone will be protected in the best possible manner. We also have to emphasize that the app’s design is very good and helps you navigate the huge selection of assets rather easily. Everything mobile technology has to offer is utilized to its very limits, so you really get an excellent trading experience this way. With that, we can move on to other topics worth examining when it comes to this company’s offer. Stay with our IG review because there is much more to discover.

IG Mobile App

IG Mobile App

IG Review | Demo account

Don’t want to risk any money just to test the platform out? Don’t worry; IG demo account will help you out with that. This account type is extremely easy to open because you only need to choose your username and password for it, along with filling out some really basic personal information (name, country of residence, e-mail, phone). It only takes a few seconds, and after that, you will get 30,000 virtual euros to spend them as you please. That is more than enough to test absolutely everything this broker has to offer.

IG Demo Account Features

IG Demo Account Features

Most of what you experience with this account type will be the same as if you were trading via your live account, but there are some notable differences you need to be aware of. You are, for example, not subject to slippage, and chart packages will not cost anything in this case. Also, your trades will not be canceled if it turns out that you don’t have enough virtual funds to cover them, which may not always be the case in real trading. Apart from that, though, you have full freedom to trade and explore, so we recommend you go for this account if you have the time or simply want to learn or test out a new idea. It can also be very handy if you’re testing out new ideas and strategies. Additionally, you can also use it on mobile platforms without any problems, so it ties in with the last two paragraphs of this IG review nicely. What else do we have to say? A lot. Keep reading!

IG Review | Account types

After taking a look at the demo, we might as well take a look at the real IG trading account. Opening it is actually very simple and requires only a few quick and easy steps. All you have to do is fill out a couple of short forms containing your verifiable personal data (name, date of birth) and things like your e-mail, new username, and password. Apart from that, you can set up your account to be used for CFD trading, spread betting, share dealing or any combination of the three including all three options at the same time. Be aware, though, that share dealing is only recommended if you intend to add an ISA or SIPP later on. It goes without saying that all of your data will be extremely well protected, but you can read more about the security system in our IG Scam article. Other IG trading account types include corporate accounts and joint accounts, with the latter requiring a power of attorney if you want to trade CFDs. Keep in mind that your account will have to be verified first before you can start trading. This is done by sending in your documents which allow the broker to validate your identity and address. These documents may vary slightly depending on the country you’re living in, but in any case, you can count on things like a utility bill or a government-issued ID to be required.  Once you’re done with that, you can proceed to fund your account, which will be the next topic of our IG review. Don’t go away!

IG Account Registration

IG Account Registration

IG Review | Deposit and withdrawal

When you’re writing a review like this, you simply can’t skip the transfer methods the broker has to offer. In this case, your primary IG deposit options are bank transfers, credit (and debit) cards and even PayPal payments. The credit/debit card types you can use include Visa, Visa Electron, Visa Debit, Maestro, and MasterCard. IG minimum deposit is set to 100£, which we find perfectly acceptable. Simply, the quality of service is excellent and the amount is very fair compared to some other brokers in the industry. In addition, you will not be asked to deposit any money or to make a trade before you think you’re ready – simply, everything is up to you. At this point, we feel we should mention that the inactivity fee (12 GBP) will only be charged if you do not conduct any trades for two years, so you have plenty of time to prepare yourself. As for IG withdrawals, the options you have are identical to the ones you can use for deposits but keep in mind that you will have to verify your account before you can complete the process. Also, do not forget that you can only withdraw via the same method you used to fund your account in the first place. This rule is in place in order to prevent money laundering and it is a fairly common practice among brokers around the world. You will be happy to know that there is no minimum IG withdrawal requirement, which means you can access your trading funds whenever you want and manage them however it suits you. With this important topic out of the way, we can move on to other interesting parts of this company’s offer. Don’t go away!

IG Review | Contact

Another thing we cannot afford to skip in this IG review is the company’s customer support, a feature that really deserves a lot of praise. First of all, you can contact these people by sending them a query from their contact page and to help speed things along you will be able to choose the topic of your query with just a few clicks. This ensures that you get an answer from the person most competent for your topic. Here you will also find the addresses of all of their offices. Apart from that method, you can use the live chat, too. This way you are quickly connected to an operator and we must say that we were very pleased with the speed of their responses and the knowledge these people have. All our questions were answered in a concise, yet detailed manner, so everything would be cleared up in a matter of seconds every time we contacted the support team. But the features IG customer support has to offer don’t end there. Should you have any complaints, there is a separate page just for that, but we honestly don’t think you will ever be needing it. Just in case, the page contains detailed information about who to contact if you feel you have been wronged. Finally, we also have to mention that IG support can also be contacted via various social networks. The company is actually very active on Twitter, Facebook etc, plus they have their own Youtube channel, as well. In short, everything you’d expect from a big and serious company in this respect can be found rather easily. Given the reputation IG has, this is really not a big surprise, but it’s still very pleasant to see this level of attention to details. Let’s move on!

IG Features

IG Features

IG Review | Fees

The next part of our IG review will take a look at the fees this broker charges. As you know, CFD trading cannot go without them, so it’s quite important that you know what you’re getting yourself into before you make your first trade. Some IG fees have already been mentioned earlier in this article, but there is more to cover. For example, same-day transfers which are less than 100£ will incur a 15£ fee and you will also be charged for credit and non-UK debit card payments. These expenses are passed on from third parties and the broker can’t do anything to alleviate them. Should you enter a trade that demands a W-8 or a W-9 form and you fail to provide those forms, a 50$ penalty will be charged to you. IG also charges a deposit fee if you decide to fund your account via some of the available credit cards or PayPal. In that case, the fee stands at 1.5%.

IG Fees

IG Fees

IG spreads have to be paid by traders if they opt for non-share CFDs, whereas there will be some commissions waiting for you if you go for share CFDs. The spreads are lowest for the standard contract and they increase in size if you decide to invest in mini or micro contracts. As for IG commission, they depend on the country you’re trading from, so the best thing to do here is to contact the broker and see how much you will be charged. Finally, you also have to keep in mind that additional costs may pop up if you keep a trade open overnight (later than 10 p.m. GMT). This is all fairly standard in the world of serious trading, so don’t get disheartened by it. We have more to discuss, so stay tuned.

IG Review | Complaints

After all this, are there any serious reasons for IG complaints? Well, like we said, we believe this broker to be a perfect example of how CFD brokers should operate. However, we did talk to some other traders who traded with this company and their answers were pretty interesting. First of all, because this is such a big and old company, you are bound to find loads of comments about it online and you have to approach those comments with a grain of salt. There is a very clear distinction between those who are willing to learn and approach this kind of trading seriously and those who think this is just a way to make a quick buck. The latter have complaints that the interface is too complicated, while the former become absolutely delighted with what the company offers after a while. Simply, if you’re new to this, you have to go through a learning period. Additionally, we saw no reasons for any IG complaints when it comes to managing your money, and the platform performs admirably, too. People who are serious to get into trading appreciate this company offers very much, so prepare yourself thoroughly and you’ll enjoy you every second here. It like the company itself says on the website – people who trade here are professional men and women interested in the world of finance. Therefore, if you want to be a serious trader, this is the partner for you.

IG Home Page

IG Home Page

IG Review | Conclusion

And that’s about everything we had to say in this IG review. Honestly, when you’re dealing with a broker that has been around for decades you immediately know that they can be trusted. Still, we wanted to show you how the very best companies in this industry operate so that you can have a reliable reference point when looking for a new trading partner. Fully customizable trading platform with a massive number of available assets is accompanied by excellent mobile apps for all known mobile devices. Simply, trading here is a great pleasure. Transferring money is very easy, and the spreads and fees are more than reasonable, which gives you a lot of flexibility when it comes to managing your funds. In the end, this article has only covered a fraction of what the broker has to offer, but we hope that was enough to show you why this company is among the very best. If you want to enter the world of CFD trading, you won’t find a better partner than IG. Open an account with them and see for yourself!

Author's overall rating:
Author: Ben Prescott
Updated:

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