Considering CFD Trading and Spread Betting? Read our Honest IG Broker Review
IG is a trading name of the UK based company IG Markets Ltd. Registered and regulated by the FCA (Financial Conduct Authority), it claims to be the world’s No1 provider of CFDs. It is in fact a little bit more. Established in 1974, it started out as the world’s first spread betting firm, but has expanded its services to include Forex trading, indices, bonds, options, commodities and ETPs. Choosing IG for a broker will give you access to more than 10,000 financial markets, and it doesn’t matter where you might be located, as the company has offices in Europe, Africa, Asia-Pacific and the US. Many of you may not have heard of IG, but it is actually listed in the FTSE 250, which is certainly evidence of the greatness of its name. Over the years, the company has sponsored some notable sports teams, including Team Sky professional cycling team in 2011, Harlequin rugby team in 2014, and Melbourne Football Club for the 2015/16 season.
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More than enough products to suit all kinds of traders
With IG, traders have ample opportunity to trade more than 10,000 markets. Not just the popular forex, indices, shares and commodities. But binaries, Bitcoin, interest rates, bonds, sectors, sprint markets, and IPOs. With regards foreign currency trading, IG offers live prices on more markets than any other Forex broker, including more than 80 currency pairs. The advantage of dealing with IG is you can tailor your investments to meet your own specific needs.
IG offers a custom made trading platform for a tailor made service
There are a number of trading platforms that have become very popular such as MetaTrader 4, but once you experience IGs custom made trading solution you won’t want to go back. It allows you to trade almost anything you can think of, without feeling cluttered or overloaded with information. Watch lists can be customized in one window, and open positions in another, with an expandable menu list on the left that can be collapsed when finished. And if you prefer to trade using a mobile device IGs trading platform is perfectly compatible.
IG offers a refer a friend bonus that’s worth considering
IG has decided not to jump on the bandwagon of offering amazing bonuses and exciting promotions. Probably because their reputation speaks for itself. However, it does have a refer a friend special offer which means you can receive credits to be used for spending on rewards. Including fine wines and foods, and red-letter experience days. The number of credits you receive depends on the number of people you refer and range from one to five credits.
An education center that is perfect for all levels of trader
With more than 40 years in the business, IG has a lot of experience it is more than happy to share. Giving all traders ample opportunity to enhance and hone their skills at every stage of their trading journey. There are platform walkthroughs, online guides and a number of in-person seminars. Everything from the very basics, to more complex topics such as strategies and trading concepts, are covered in a user-friendly and informative way. For complete beginners, there is an introduction programme that offers deals with reduced risks, while beginners learn how to use IGs products and platforms. And that’s on top of the demo account, which is always an option we’d recommend trying.
The good and the bad side of IG
Let’s take a look at some of the good points offered up by IG as good reasons to start trading with them.
- A global presence backed by offices in 17 countries, across 5 continents
- Figures for last year give the figure for their customer base at a shade over 136,000
- Globally, on a monthly basis, there are on average, more than five million transactions
- IG is a FTSE 250 company with market capitalization of £2.9 billion
- £388.4 net global trading revenue
- More than 1000 staff across the globe
- A wealth of industry awards, such as Best Spread Betting Provider 2014, Best Online Trading Platform 2015, and Best Investor Education 2015.
If the figures are anything to go by, there are certainly few other companies who can compare with such numbers. IG has used their time in the industry, and invested wisely in information, market research and achieving customer satisfaction. Their trading platform is outstanding, and the length of their product list means that all kinds of traders will be able to find something to suit their needs.
With regards the downside, there really wasn’t much we could find to criticize with IG. Some of their prices, fees and commissions were a little higher than many other brokers, but in this world, you really do get what you pay for.