IG forex broker comprehensive review
Forex trading is a highly competitive industry, with numerous brokers vying for the attention of traders around the world. One broker stands out among them, which has a rich history, a reliable regulatory framework and a wide range of trading offers: IG. This IG broker review aims to provide a detailed analysis of its offerings, features, pros and cons to help you make an informed decision.
About IG Company
IG is a public company listed on the FTSE 250 London Stock Exchange (LON: IGG) with a market capitalisation of £3.539 billion as at October 2021.
Overview of the IG broker's activities
IG is a globally recognised and publicly traded forex broker that prides itself on providing an exceptional trading experience. Founded in 1974, the company has won numerous awards, including the prestigious 'Best Forex Broker' award in our 2023 Annual Awards.
However, as with any trading, it is important to understand the risks associated with forex and CFD trading. These instruments are complex and high risk due to their leveraged nature. Therefore, traders should fully understand how these instruments work and whether they can afford the potential losses.
Pros and cons of IG
Like any other broker, IG has its strengths and weaknesses. This review aims to give a balanced viewpoint, highlighting both.
- IG is a well-established broker that is traded on the London Stock Exchange (LON: IGG) and regulated in many jurisdictions around the world.
- It has been recognised as the most trusted broker for forex and CFD trading in our 2023 Annual Awards ranking.
- IG offers a wide range of trading instruments with over 19,000 tradable assets.
- The broker has made significant acquisitions such as tastytrade for $1bn, thereby opening up options and derivatives trading on the exchange to US clients.
- IG's platforms, including IG Smart Portfolios and equity trading platforms, offer a wide range of trading options.
- Although IG's web-based platform is industry-leading, it lacks predefined layouts, requiring some manual customisation.
- Despite FX Blue's premium MT4 add-ons and Autochartist integration, IG's MetaTrader offers only 76 tradable instruments.
How safe is IG?
IG co-operates with official regulators in developed countries, making it a highly trusted broker. IG is a regulated company that is authorised by several first tier regulators such as the Australian Securities and Investments Commission (ASIC), Japan Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS) and others.
IG provides its clients with a wide range of markets depending on their geographical location and the regulatory organisation where their account is held. For residents of the UK, Germany and Australia, the company offers around 20,000 CFDs and exchange-traded securities. In addition, forex and listed derivatives trading options are available in the US and Europe.
Cryptocurrency trading at IG is available through CFDs, but not through trading the underlying asset. IG does not offer cryptocurrency derivatives in the UK to retail traders.
IG offers two trading applications: the popular MetaTrader 4 (MT4) application and its own flagship mobile application IG Trading. The latter is equipped with features designed for both beginners and experienced traders. It integrates news headlines from Reuters, trading signals from Autochartist and PIA First, and advanced charting capabilities.
IG offers a wide range of trading platforms and tools designed for traders with any level of expertise. The platforms include IG's own web-based platform, MetaTrader 4 platform, L2 Dealer DMA platform and ProRealTime charting platform.
IG provides a wide range of high quality market research from both in-house and third-party providers. Content includes news from Reuters, trading signals, proprietary broadcasting via IGTV, an economic calendar and a weekly forecast.
IG is a leader in providing educational content. It offers a wide range of content in a variety of formats, including videos, written articles, numerous weekly webinars, and guides from DailyFX.
Is IG a good broker?
Yes, IG is a great broker, ranking at the top in almost all key categories important to traders.
Is my money safe with IG?
Yes, IG is considered a safe broker to hold client assets, including cash.