IG Forex is an online broker. Multiple Tier-1 authorities, ensuring a secure and transparent trading environment, regulate it. This multi-jurisdictional regulation demonstrates IG Forex’s commitment to providing a safe and obedient trading platform for clients worldwide.
IG broker review
Founded in 1974 and regulated by top authorities such as the FCA, BaFin, and ASIC, IG Forex ensures a secure trading environment for its clients. With over 17,000 + markets and 19,500 trading instruments including forex, stocks, CFDs, ETFs, and commodities. IG caters to both novice and seasoned traders.
With advanced trading platforms like IG’s web-based platform, mobile apps, ProRealTime and MetaTrader 4 MT4. IG Forex is a leading online broker offering a variety of account types, including Demo, Standard and Professional.
The broker features competitive commission rates from $0.00 to $6.00 per 1.0 standard round lot, with forex spreads between 0.60 and 0.90 pips. A minimum deposit of $300 is required, with a $50 option available for credit and debit card users. IG Forex provides 24/7 customer support via phone, email and live chat.
Overview IG Broker
| Feature | Details |
| Founded | 1974 |
| Account types | Demo, Standard, Limited Risk, Spread Betting, Options, Turbo24, Share Dealing, Professional, Select |
| Commission | $0.00 to $6.00 per 1.0 standard round lot |
| Customer support | 24/7 via phone, email, live chat |
| Demo account | Yes $ 20,000 virtual currency |
| Instruments offered | Over 19,500 forex, stocks, CFDs limited options & futures, ETFs, commodities |
| Minimum deposit | $300 Credit/Debit Cards: Minimum deposit of $50 recommended starting balance: $250 |
| Payment methods | Debit Card, Credit Card, PayPal, Visa, MasterCard, Wire Transfer |
| Platforms | IG’s web-based platform, iOS/Android Apps, ProRealTime, MetaTrader 4 (MT4) |
| Regulators | FCA, BaFin, ASIC, CFTC & NFA, FINMA, MAS, DFSA, FSCA |
| Spread | 0.60 pips to 0.90 pips Forex spreads |
| Total trading fees | $6.00 to $9.00 per 1.0 standard round lot |
Is IG Forex legit?
Is IG a good forex broker? Yes, IG Forex is a legitimate and trustworthy online broker. Established in 1974 and listed on the London Stock Exchange, it operates in multiple jurisdictions under strict regulatory oversight.
The regulatory status of IG
- Australian Securities & Investments Commission (ASIC)
- Bermuda Monetary Authority (BMA)
- Dubai Financial Services Authority (DFSA)
- German Federal Financial Supervisory Authority (BaFin)
- Japan Securities Dealers Association (JSDA)
- Monetary Authority of Singapore (MAS)
- Financial Sector Conduct Authority (FSCA)
- Swiss Financial Market Supervisory Authority (FINMA)
- Financial Conduct Authority (FCA)
- Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)
Security measures
- Negative balance protection (UK/EU clients)
- Client funds held in segregated accounts
- Two-factor authentication 2FA for account access
Steps to open an account with IG
- Visit the IG website.
- Create an account.
- Submit proof of ID and address.
- Verify your account.
- Fund your account and start trading.
Trading platforms
- IG’s web-based trading platform
- iOS and Android apps
- ProRealTime premium trading platform
- MetaTrader 4 MT4
Additional tools
- ProRealTrend for automatic trendline analysis
- ProScreener for custom market screening
- Custom Indicators via ProBuilder language
- Smart settings for efficient trading
- Economic calendar and price alerts
Trading account types
- Demo account
- Standard account
- Limited risk account
- Spread betting account
- CFD account
- Options account
- Turbo24 account
- Share dealing account
- Professional account
- Select account
Deposit and withdrawal methods
- Wire Transfer
- Debit Card
- Credit Card
- PayPal
- Visa
- MasterCard
Minimum and maximum deposits
Bank Transfer: No minimum deposit is needed.
Credit/Debit Cards: Minimum deposit of $50 recommended starting balance: $250.
Maximum deposit: $99,999 per transaction for debit cards, and $50,000 per transaction for credit cards.
IG Forex broker charges
| Fee type | Details |
|---|---|
| Forex spreads | Competitive spreads ranging from 0.60 to 0.90 pips for major forex pairs |
| Forex commissions | Commission-free forex trading available, with total trading costs ranging from $6.00 to $9.00 per 1.0 standard round lot |
| Equities UK | 0.10% commission, with a minimum of £10 |
| Equities US | $0.02 per share, with a minimum commission of $15 |
| Equities EU | 0.10% commission, with a minimum of €10 |
| Cryptocurrencies | Spreads range significantly, with minimum spreads between 1.20 pips and 32.0 pips |
| Indices & commodities | Spreads range from 0.80 to 2.40 pips for indices, with no additional commissions for commodities and indices trades |
| Deposit fees | No internal fees; third-party processors may apply a 0.50% currency conversion fee |
| Withdrawal fees | No internal fees; $15 wire transfer fee may apply |
| Inactivity fee | A £12 monthly fee after 24 months of inactivity |
| Guaranteed stop loss Premium UK only | 0.3% premium if triggered |
| Swap fees | Charged nightly for holding positions overnight, reflecting interest rate differentials between currencies |
| Currency conversion fees | 0.50% fee for converting base currency to trade currency |
| Rebates for active traders US | 5-15% rebates based on monthly trading volume |
Customer support
IG offers 24/7 customer support via phone, email, and live chat, except Saturdays. You can reach them at +44 (20) 7633 5431 or [email protected] for assistance.
Pros and cons of IG broker
| Pros | Cons |
| Highly regulated by top-tier authorities FCA, ASIC, CFTC | Inactivity fee of £12/month after 24 months |
| Wide range of over 19,500 trading instruments | A high minimum deposit of $300 for most accounts |
| Advanced trading platforms MT4, ProRealTime, mobile apps | Large spreads on cryptocurrencies |
| Competitive spreads starting from 0.60 pips | No proprietary desktop platform |
| No internal deposit or withdrawal fees | $15 fee for wire transfer withdrawals |
| 24/7 customer support via phone, email, and live chat | – |
Conclusion
IG Forex is a well-established and highly regulated broker, providing a secure trading environment backed by top-tier authorities like the FCA, ASIC, and CFTC. It offers a vast array of trading instruments, competitive spreads, and advanced platforms such as MetaTrader 4 and ProRealTime, making it suitable for traders of all levels.
While the broker’s fees are competitive, particularly for forex trading, its inactivity fee, and relatively high minimum deposit might not suit all traders. Overall, IG Forex is a legitimate and trusted broker, ideal for those seeking a wide range of instruments and a secure trading platform.
Pro Tip
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