Join us as we examine IG Group from all angles in this comprehensive overview. We’ll analyze their products, education, and customer service, sharing complete details about their platform, withdrawals, and deposits. Together, we’ll discover if IG Group is truly reliable.
A Short Background About IG Group
For more than 45 years, IG Group has been one of the world’s most popular and trusted trading platforms. This global trading platform was founded in the UK in 1974. The original approach allowed investors to trade gold indices instead of purchasing physical gold. At the time, it was named “IG Index,” short for “Investors Gold Index.”
After a name change in 2000, IG has experienced remarkable growth and established itself as a trading powerhouse, boasting an annual revenue of approximately $650 million.
After a name change in 2000, IG has experienced remarkable growth and established itself as a trading powerhouse, boasting an annual revenue of approximately $650 million.
Let’s take a moment to swiftly review a few key facts:
- IG Group is regulated by financial authorities, including FCA, ASIC, and MAS.
- IG Group has developed its own platform, called the IG Trading Platform.
- IG Group has won multiple awards, including Best Forex Provider and Best CFD Provider, at the 2020 Online Personal Wealth Awards.
- The range of available cryptocurrencies is limited compared to specialised cryptocurrency exchanges.
- Unlike other platforms, IG Group does not offer direct social trading integration.
- IG Group provides extensive educational resources to help traders improve their skills and knowledge.
- Various risk management tools are available to help traders manage and limit their potential losses.
Read more about IG GROUP on Wikipedia.
Markets and Products
IG Group provides traders with an extensive range of products and markets to select from. They allow traders to invest in a broad range of markets and products, including forex, stocks, indices, commodities, cryptocurrencies, and numerous other financial instruments.
With access to over 17,000 markets, IG Group is a top-rated trading platform worldwide. Additionally, the platform offers a range of powerful trading tools and features, including advanced charting, technical analysis, and risk management tools, enabling traders to make well-informed trading decisions.
IG Group caters to their client’s trading needs, providing a variety of trading instruments to choose from according to their investment strategies. When it comes to forex trading, IG Group stands out as a top provider with its broad range of over 80 currency pairs, low spreads, and an array of trading tools and resources.
Clients of IG Group have access to share trading and can invest in companies worldwide, such as those in Europe, the US, and the UK. Moreover, IG Group allows traders to trade on a broad range of indices, including the S&P 500, FTSE 100, Nikkei 225, and many more.
- 17,000 stocks.
- 25 commodity markets.
- 30 global indices.
- 1,500 ETFs.
- 25 cryptocurrencies.
- Over 70 US key stocks.
Please note that these numbers are approximate and may change over time. It’s advisable to visit IG Group’s website for the most updated information.
Education
IG Group provides its clients with a variety of educational resources and tools, such as webinars, seminars, trading guides, video tutorials, and a demo account. The educational resources provided by IG Group cater to traders of all experience levels, including beginners. The content is designed to be easily understood and accessible, helping novice traders grasp fundamental concepts and build a solid foundation in trading.
However, certain educational resources, such as webinars and courses, may have limited availability based on scheduling or time zones. Traders should ensure they can access the materials conveniently to benefit from the educational offerings fully.
The demo account offered by IG Group allows clients to practice trading in a simulated environment, providing a risk-free opportunity to familiarise themselves with the platform and test their trading strategies without using real money.
Clients of IG Group have access to trading guides that offer insight on a variety of topics, including technical analysis, risk management, and trading different financial instruments. In addition, IG Group organises webinars and seminars covering a range of trading subjects, allowing their clients to learn from specialists and receive immediate responses to their questions.
Traders can benefit from trading signals generated by a team of experts that can help inform their trading decisions. The educational resources and tools provided are designed to assist clients in improving their trading skills and knowledge, regardless of their experience level. Yet, they are generally self-directed, meaning traders do not receive personalised guidance or mentorship. Some traders may prefer one-on-one support or coaching to enhance their learning experience.
Policy
IG Group has established comprehensive policies to ensure a transparent and secure trading environment for its clients. These policies cover various aspects of their operations, providing clients with confidence and peace of mind. Regulated by various prominent financial authorities around the globe, such as ASIC in Australia, FCA in the UK, and MAS in Singapore, IG Group operates in accordance with rigorous standards and regulations.
One of the key policies is the Trading and Execution Policy, which emphasises fair and efficient trade execution, placing client interests at the forefront. This ensures that trades are carried out promptly and at competitive prices, enhancing the overall trading experience.
Client Money Protection is another crucial policy that guarantees the safety of client funds. IG Group holds client funds in segregated accounts, separate from their own operational funds. This segregation provides an extra layer of protection, safeguarding client funds in any financial difficulties.
To promote responsible trading, IG Group has a robust Risk Management Policy. This policy educates clients about the potential risks associated with trading and provides guidelines and tools to manage and mitigate those risks effectively. IG Group aims to foster a sustainable trading environment by prioritising risk management.
The Privacy Policy is designed to protect clients’ personal information. It outlines how client data is collected, used, and safeguarded in compliance with data protection regulations. This policy assures clients that their privacy is respected and their information is handled securely.
IG Group’s policies encompass various aspects of its operations, including fair trade execution, client fund protection, risk management, privacy, complaints handling, anti-money laundering measures, and regulatory compliance. These policies collectively contribute to a secure and trustworthy trading environment for clients. For more information about the policies, it is recommended to visit their official website.
Financial Policies
With a strong focus on financial integrity, IG Group has established an all-encompassing Financial Policy encompassing crucial elements like deposits, withdrawals, fees, and other payments. By adhering to this policy, IG Group ensures clients benefit from a transparent, equitable, and secure financial environment.
Simplifying the deposit process, IG Group offers clients a diversity of safe and convenient payment options.
From credit/debit cards to bank transfers and electronic payment options, clients have the freedom to choose their preferred deposit method. By prioritising efficiency, IG Group ensures that deposited funds are quickly processed, enabling clients to dive into trading activities without unnecessary delays.
Regarding withdrawals, IG Group prioritises a seamless experience for its clients. Clients can request withdrawals through the online platform or by reaching out to the customer support team. IG Group strives to process withdrawal requests promptly, ensuring that clients receive their funds in a timely manner. Yet, the actual processing time may vary. Some clients have reported longer-than-expected waiting periods for their withdrawal requests to be completed, which can be frustrating for those needing quick access to their funds.
In their dedication to transparency, IG Group ensures that traders have complete visibility into fees and charges. By providing comprehensive information about spreads, commissions, and other associated costs, clients can easily understand and calculate the financial implications of their trading activities. This level of transparency empowers traders to make informed decisions, armed with a clear understanding of the fees involved.
IG Group also prioritises compliance with anti-money laundering (AML) regulations. They have implemented robust procedures and controls to prevent money laundering and financing illegal activities. By conducting thorough due diligence on clients and monitoring transactions, IG Group contributes to the overall integrity of the financial system. Additionally, IG Group provides clients access to detailed account statements and transaction history to efficiently monitor their financial activities and trading performance.
Web & Mobile Trade Platform
IG Group’s trading platform is easily accessible to traders, with the platform being available both online and on mobile devices, allowing users to access their accounts from any location. The trading platforms offered by IG Group are intuitive, feature-rich, and easy to use, providing traders with all the necessary tools to make executing transactions and managing portfolios a breeze.
With IG Trading, the web-based platform, traders have access to a personalised workspace that comes equipped with various charting options, technical analysis tools, real-time news, and market data, all accessible from any web browser. Along with stop-loss and take-profit orders, the platform provides various booking types, and traders can avail of guaranteed stop-loss orders at an extra cost.
IG Trading’s mobile app is available for download at no cost on both the App Store and Google Play Store. It is designed to give traders access to real-time market data, custom watchlists, and the ability to trade from anywhere, providing a seamless trading experience. Moreover, traders can benefit from the app’s range of technical indicators, charting tools, and customisable news alerts, which keep them informed about market trends and developments.
Customers of IG Group can rest assured that their accounts are secure, as both the web-based platform and mobile app offer two-factor authentication to prevent unauthorised access. However, both platforms may appear overwhelming and complex for novice traders. Its extensive range of features, tools, and advanced trading options could be challenging for those new to trading.
Customer service
With a focus on client satisfaction, IG Group offers top-notch customer service and support, ensuring issues are resolved quickly and efficiently.
This broker stands out for its customer-centric approach and provides 24/7 support through multiple support channels, like email, phone, and live chat, to provide its clients with timely assistance. This provides clients with numerous options to reach out for help and choose the method that suits them best.
The customer service team at IG Group is generally well-trained and knowledgeable about the trading platform and related services. They strive to provide accurate and prompt responses to client inquiries. As a bonus, clients from various regions can get support in multiple languages. This allows for effective communication and assistance for non-English speaking traders.
For its high-value clients, IG Group assigns a dedicated account manager who can help address their queries and resolve any concerns they may have. Traders frequently choose IG Group due to its prioritisation of customer support, easy-to-use platforms and valuable educational resources.
Pros&Cons
Pros:
- This firm offers many assets, including equities, ETFs, funds, options, and warrants.
- The brokerage offers personalised investment advice and portfolio management through its expert team.
- The brokerage offers market analysis, aiding clients’ investments.
Cons:
- The fees are higher for small trades than other Australian online brokers.
- A demo account is not offered by IG Group, which may deter some beginners.
- Customer service is only available 24/5.
Our thoughts
IG Group is a globally recognised and established presence in the trading industry. Traders can rely on IG Group as a credible and dependable trading platform that provides a vast line-up of products and markets to suit their needs.
IG Group’s commitment to client fund protection, extensive educational resources, and top-notch customer service make it an excellent trading platform to consider, with a history spanning several decades. One of its exclusive features is that it accommodates American traders, which is rare in the industry.
If you are searching for a reputable broker with a wide range of offerings and educational resources, then IG Group is worth considering. Although the account requires a higher minimum deposit, the numerous features and resources offered, including APIs and the IG Academy, make it a practical choice for serious traders.
Written: Gloria Simone
Edited: Olive Harper
Fact-checked: Ella Sparks
