IG Review 2023 - Verified Customer Reviews

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IG Review

Updated August 18, 2021
Score breakdown
Pricing: 5
Regulation: 5
Popularity: 4.5
User Rating: 4.5 (4)

IG overall score rank: 2 out of 66

IG forex broker review

Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.


  • 10,000+ assets available for trading
  • Competitive trading costs
  • Regulated in Europe, America, Asia and South Africa
  • Excellent proprietary trading platforms

Regulations and Money Protection


Entity Name Licence & Regulation Client Money Protection Deposit Compensation Scheme Negative Balance Protection
IG International Limited (BM) Bermuda BMA Licence ✔️
segregated client money
IG Markets Limited (UK) UK FCA Licence ✔️
up to £85,000
IG Europe GmbH (EU) Germany BaFin Licence ✔️
up to €20,000
IG Markets Limited (Australia) Australia ASIC Licence ✔️
IG Bank S.A. (CH) Switzerland FINMA Licence ✔️
up to CHF100,000
IG Markets South Africa Ltd South Africa FSCA Licence ✔️*
IG Securities Ltd (JP) Japan JFSA Licence ✔️*


The IG Group is also trading as IG Asia Pte Ltd in Singapore, authorised and regulated by the Monetary Authority of Singapore (MAS), with authorisation number 200510021K. IG is also present in the Middle-East with IG Limited, with registered address at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, UAE and is authorised and regulated by the DFSA in Dubai, with authorisation number F001780.

For the purpose of this review we will use the main entities with whom the traders can open an account; the companies in the Bermuda, the UK, in Europe, Australia, South Africa, Japan and the USA. IG Group Holdings Plc (UK) is the parent company of all IG Group trading brands.

  • International customers: IG International Limited will be the counterparty for International customers. This entity, with principal address at 16 Burnaby Street, Hamilton HM11, Bermuda is regulated by the Bermuda Monetary Authority (BMA) with licence number 54814.

  • UK customers: IG Markets Limited is a company registered in England and Wales under number 04008957. Principal and registered office at Cannon Bridge House, 25 Dowgate Hill, London , United Kingdom. IG Markets Limited is authorised and regulated by the FCA with licence number 195355.

  • European customers: IG Europe GmbH, with address at Westhafenplatz 1, 60327 Frankfurt am Main, Germany, is a registered Securities Trading company and is regulated by Germany's Federal Financial Supervisory Authority (BaFin) under licence number 148759 to provide the investment services of CFDs trading and other derivatives in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.

  • Australian customers: IG Markets Limited, (ABN 84 099 019 851), trading as IG, is regulated by the Australian Securities & Investments Commission (ASIC), under licence number AFSL 220440. IG Markets Limited is registered to carry out financial services business in Australia, limited to the financial services covered by its AFSL licence, and in New Zealand - with an FSP licence number 18923.

  • Switzerland customers: IG Bank S.A., with registered address at 42 Rue du Rhone, 1204 Geneva, is authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA).

  • South Africa customers: IG Markets South Africa Ltd, registered in South Africa with company number 2010/000229/10 and with registered address at The Place, 1 Sandton Drive, Sandton, is authorized and regulated by South Africa's Financial Sector Conduct Authority (FSCA) with a financial services provider licence number 41393.

  • Japan customers: IG Securities Ltd, with registered address at 1-6-1, Roppongi, Minato-ku, Tokyo, is authorised and regulated by Japan's Financial Services Agency (JFSA) with JCN number 9010401051715 and holding a Type I Financial Instruments Business licence number 255.

  • USA customers: IG US LLC, with registered address at 200 W Jackson Blvd, Suite 1450, Chicago, IL 60606, United States is authorized and regulated by the USA National Futures Association (NFA) with a Forex Dealer Member licence, NFA ID 0509630. The IG US LLC entity is also registered with the CFTC as a Retail Foreign Exchange Dealer.

Client Money Protection

  • IG complies with the highest safety standards for client's funds. For this reason, IG client's funds are kept in top-tier international banks, such as the HSBC fully segregated from the company's funds.

  • IG also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. IG holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

  • IG Markets Limited is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for customers of authorised UK financial services firms. If IG Markets Limited is unable to pay claims against it in the event the firm has stopped trading or has declared to be in default, clients might be entitled to compensation (up to the value of £85,000) per claim.

  • IG Europe GmbH is a member of the Compensation Scheme for Securities Trading Companies (EdW), an investor compensation fund for clients of Germany's based financial companies and its functions are regulated by the BaFin. If IG Europe GmbH is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).

  • IG Bank S.A. is a member of the Swiss Deposit Protection Scheme (Esisuisse), a depositor protection scheme used only in the event of bankruptcy of a financial institution and overseen by the Swiss FINMA. In the event that IG Bank S.A. files for bankruptcy in Switzerland, customers might be entitled to compensation, up to the value of CHF 100,000, per claim.

*Negative Balance Protection

  • For the IG Trading accounts type, opened via IG International Limited (BM), IG Bank S.A. (CH), IG Markets South Africa Ltd, IG Securities Ltd (JP) and IG US LLC, there is no default NBP in place to prevent clients from keeping their accounts balance below zero. This means that in extreme market volatility and without an adequate stop loss in place, a losing trading position can cause a negative account balance.

  • For traders with a Limited Risk accounts type, opened via one of the above entities (expect IG US LLC), or via IG Markets Limited (UK), IG Europe GmbH (EU) and IG Markets Limited (Australia), there is a default NBP in place, protecting traders from any losses bigger than their original investments, in compliance with ESMA and ASIC's new regulations.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️IG Trading
✔️Limited Risk
✔️Islamic Accounts
✔️MT 4
❌MT 5
✔️L2 Dealer
30:1 Europe

30:1 Australia

Variable Rest of World

Account types and currencies

  • IG has three types of trading accounts available; IG Trading, Limited Risk (with NBP) and DMA (only for stocks trading). IG also offers swap-free accounts for traders of Islamic belief.

  • IG does not allow for social trading, including copy trading, via Myfxbook or ZuluTrade.

  • IG does not offer any MAM/PAMM accounts alternatives for money managers.

  • IG maximum leverage is up to 30:1 for accounts opened within Europe and Australia, and variable for accounts opened in other countries around the world (on average 200:1).

  • Currently, IG trading accounts are available in AUD, CHF, EUR, GBP, JPY, USD and ZAR.

Financial instruments

Trading can be done via the classic Metatrader 4 and IG's own proprietary platforms, ProRealTime and L2 Dealer, available on web and mobile trading versions. The broker offers an excellent selection of more than 10,000 assets to trade, including Forex, indices, stocks, commodities and cryptocurrencies.

  • FX market - 70+ currency pairs (including Minor and Exotic crosses).

  • Indices - 80+ world indices including FTSE 100, Germany 30, Hong Hong 50 and Wall Street.

  • Stocks - 10,000+ stocks CFDs from worldwide top companies and banks, such as Apple, Facebook, Netflix, BHP Hilton or BP Plc.

  • Commodities - 40+ commodities CFDs available for trading including the most common energy, metals, base metals and soft commodities (Gold, Silver, UK Oil, US Oil and Nat Gas).

  • Futures - 32 commodities futures, including energy, metals and soft commodities. IG also offers access to Options, ETFs and Government Bonds and allowing traders to speculate on central banks interest rates.

  • Cryptocurrencies - 6 CFDs crosses for trading, including BTC/USD, ETH/USD and XRP/USD.



IG Trading Limited Risk DMA
Spread EUR/USD from 0.6 pip from 1.2 pip from 0.2 pip
Commissions (1 lot)
Minimum Deposit from USD250/£250/€300 from USD250/£250/€300 from USD250/£250/€300


With IG traders have access to several instruments with low spreads, from 0.6 pip on key FX pairs like the EUR/USD for example, 1 point on major indices such as the FTSE 100 and 0.3 points on Spot Gold. When trading on leverage, there is only one direct charge that to consider, the spread or a commission in the case of shares CFDs. Traders also want to consider some other potential charges and factors which may influence the overall cost of trading.

With the Limited Risk account traders will have the ability to protect the open positions against slippage with a guaranteed stop, paying only a small premium if the guaranteed stop is triggered. The EUR/USD spread for customers deciding to trade the pair with a guaranteed stop will be 1.2 pip.

The spread for the EUR/USD pair, with the IG Trading account, starts at 0.6 pip, with an average of 0.9 pip, with fees and commissions built into the spread. For the DMA account type, available to professional clients only, the average spread for the EUR/USD changes to a very low 0.2 pip. There's no charge for using the DMA platform to trade Forex and stocks CFDs, or to buy and sell stocks via the share dealing service. However, traders will need to pay a monthly exchange fee to access live DMA prices for some stocks.

Rollover Rates

Regarding swap rates, IG does not publish or let any third-party software publish them on their behalf. Therefore, the only way to find out the current rollover rates with IG is by opening an account. In this case we can't compare IG with other brokers to see if holding a 1 lot EUR/USD, long or short, is cheaper or more expensive.

Still, to have an idea of the formula used to calculate the rollover rates, we found this on IG website: "If you keep a position open overnight we make an interest adjustment to your account, including our fee of 2.5%. We debit your account if your position is long, and credit your account for a short position if the interbank rate is greater than 2.5%."

Deposits/Withdrawals and Other Fees

  • Deposit fees - IG trading accounts can be opened in 7 different currencies and maintained via 3 different funding methods; cards, bank wires and PayPal (subject to jurisdiction). Deposited funds are available, usually, within 10 minutes. IG passes on to customers deposit fees (subject to jurisdiction).

  • Withdrawals fees - Same policy applies for withdrawals. IG passes on to customers the withdrawal fees of some payment processors (subject to jurisdiction).

  • Inactivity fee - IG does charge an Inactivity fee of $18 on the first of every month, if no trading activity has occurred for two years or more. This fee is only charged if there is funds in the trading account.

  • ProRealTime Charts - Subscribing to real-time charts costs £30/€30/$40 per month. This is refunded if traders place four or more trades a month. IG reserves the right to charge for the service if the qualifying trades are of an extremely low value.

  • Currency conversion charge - CFDs traded in a currency other than the account's base currency may incur a currency conversion charge. IG's default setting is instant conversion, where foreign-currency profit is converted to the base currency. Funding, commission and dividend charges are taken into account before the account is credited. IG standard charge is 0.5%. For relevant share dealing transactions on share dealing accounts, IG will convert currencies at the time of execution based on the best available bid/offer exchange rates, plus their spread of 0.5%.



Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer
IG Academy
Forex Webinars
Video Tutorials
Fundamental & Technical Analysis
Trading Tools
Bank Wire
PayPal (subject to jurisdiction)
✔️ (subject to jurisdiction) ✔️ Multi language
24/5 Support

The popularity of this excellent UK based broker is always on the rise. Not only because of the extensive range of assets available to trade, but mainly for their reputation as one of the biggest Forex brokers worldwide and also for their competitive trading conditions and strong regulations to safeguard customers capital.

Offering cutting-edge trading technology, the IG Group has super-fast trading servers, maximising the execution speeds of the orders on all of it’s trading platforms. IG also provides traders with DMA (Direct Market Access) to inter-bank price feeds for Forex and stocks, from several institutional liquidity providers, therefore minimising slippage when trading.

  • Trading accounts - The IG Trading account is a popular choice with traders looking to save on trading costs, with a lower spread and with no commissions added.

  • Forex education - IG gets extra popularity points for their extensive range of Forex education materials available on the website. Traders can enroll on the IG Academy, watch live trading webinars, brush their trading knowledge with good online FX courses, learn with video tutorials, read and make informed decisions with IG fundamental & technical analysis reports, sign-in with the IG trading community where more experienced traders can help new traders and answer questions. To complete the offer, the IG TV with several episodes about trading the markets.

Funding Methods Bank Wire, Cards, PayPal (subject to jurisdiction)
Support Languages Arabic, Danish, Dutch, English, French, German, Italian, Japanese, Norwegian, Polish, Portuguese, Romanian, Spanish, Swedish

  • Minimum deposit - Opening a trading account with IG is completely hassle-free and can be done online. The minimum deposit requirement with IG is 0! Of course, with a zero balance, customers will not be able to open any trades, but traders can have a real feel for the broker's trading platforms and for the overall trading conditions.

  • Customer support - IG's multi language customer support service is available 24 hours, 5 days a week, in 13 languages. IG's support is available via email or by local office phone call (subject to jurisdiction). Live chat directly from the broker's website is not available.

Broker Profile

Established in 1974 and headquartered in the City of London, UK, the IG Group provides brokerage services to retail investors and leveraged access to over 15,000 global financial markets including stocks, the foreign exchange market, indices, commodities and other instruments via market-leading platforms and apps that provide efficient and secure execution.

The IG Group has operations in 14 countries, across five continents and, as of October 2020, more than 239,000 clients worldwide. The complete range of products offered by the IG Group is designed to provide solutions across the spectrum of different client's trading and investment needs.

These products include the most popular and traded financial instruments, such as Forex and CFDs. Since 2014, the IG Group also offers stock brokerage. The stock trading service is available only to European clients in the UK, Austria, France, Germany, Ireland, Australia and the Netherlands.

Regarding the Forex CFDs trading, the IG Group is a market-maker dealer, meaning that traders will be dealing with IG own pool of liquidity and not directly with the underlying Forex market.

Overall, on our IG review, the broker scores an excellent 4.7 out of 5 as it is a reputable choice for traders looking for competitive pricing and overall low trading costs, excellent trading conditions and strong regulations in place. The only thing to improve, in our view, is the accessibility to the customer services support with a live chat facility directly from the broker's website.

Data supplied in partnership with CashBackForex - Forex Rebates places IG on the top 10 brokers for popularity with traders opening an account in 2020.

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