From its expansive range of investment products, including stocks, forex, cryptocurrencies, and commodities, to its user-friendly interface and comprehensive educational resources, IG Markets caters to both beginners and seasoned traders.
The platform's competitive fee structure, including commission-free US shares and tax-efficient options, add to its appeal. However, commissions on certain CFDs and fees charged for integrations are major drawbacks. Overall, IG's trading tools and market reach position it as a versatile and reputable choice for a wide range of traders.
Who is it best for?
IG Broker is a versatile platform that accommodates a range of traders. Novice investors will appreciate the user-friendly interface, educational resources, and comprehensive support. Hands-off investors seeking tax-efficient options can explore IG's stocks and shares ISA and Smart Portfolio feature. Cost-conscious traders benefit from competitive share dealing fees and commission-free US shares.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
 | 8.9 | Visitig.com | Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. |
Investment Products – 9/10
From stocks and forex to cryptocurrencies and commodities, IG offers a comprehensive range of investment products to suit various trading preferences.
- Overnight trading
- Out-of-hours trading for certain assets
- Wide range of trading instruments
- Relatively high SIPP fees
- You need to trade frequently to get the best fees
- No fractional shares
Assets Available
Here’s an overview of the different asset types available at IG.
Indices
IG provides a selection of global indices, providing continuous pricing accessibility 24/7. With over 80 indices, traders can explore various markets, including prominent stock market benchmarks and specialized sector indices.
Forex
IG offers a straightforward platform for forex trading, with features like low spreads, fast execution, and multiple trading options such as CFDs, spread betting, and DMA. Notably, both forex CFDs and spread betting are commission-free, enhancing the appeal for traders.
Shares
It’s impressive that IG offers more shares than most banks and investment platforms like FreeTrade and Fineco. Customers can access over 13,000 shares and take both short and long positions to capitalize on market movements.
Commodities
IG Broker facilitates commodities trading with a range of assets, including metals, energies, and agricultural products. Through commodity spread betting, commodity CFD trading, or commodity share dealing, traders can diversify their portfolios and speculate on commodity price movements.
Bonds
If you’d like to explore the relationship between interest rates and bond prices, you can trade bonds on IG via bond futures or bond ETFs.
Derivatives
There are three derivative products that you can trade on IG:
Volatility Trading – If you're anticipating a significant market reaction but are uncertain about the direction, volatility trading gives you an opportunity to take a stance. IG's VIX market index typically rises amid global instability and declines as prospects become clearer, enabling potential profit if your prediction aligns.
Options Trading – IG provides options trading through spread bets or CFDs, giving you flexibility in how you approach this strategy. By navigating options, you can tailor your trades to market movements and potential opportunities, adding a layer of versatility to your trading experience.
Futures Trading – Futures trading on IG allows you to speculate on a range of indices, global commodities, and a diverse selection of bonds.
CFDs - IG supports CFDs across several markets including forex, indices, shares and commodities, allowing traders to go long or short. There is a minimum spread of 0.6 for forex, 0.1 for indices and 0.3 for commodities.
Spread Betting - If you'd like to trade tax-free, you can consider spread betting on IG and avoid capital gains tax. You can trade forex, indices, shares and commodities on margin and with no commissions, though spreads apply.
Trading spread bets and Contracts for Difference (CFDs) involve a high level of risk and may not be suitable for all investors. It's important to carefully consider your financial situation, risk tolerance, and investment goals before engaging in such activities.
Please be aware that due to the use of leverage, trading spread bets and CFDs can result in losing money rapidly. About 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. Past performance is not indicative of future results, and there is no guarantee that you will make profits or avoid losses.
Make sure that you understand how spread bets and CFDs work before you open any position.
Account Types
Here’s a summary of the account types available at IG.
SIPP
IG offers a decent option for those seeking to secure their financial future through Self-Invested Personal Pension (SIPP) accounts. The tradable assets include over 13,000 shares, funds, and investment trusts, as well as ready-made portfolios.
The annual administration fee is £210, which is a little above the industry average, considering most platforms charge capped percentage-based fees. For instance, FreeTrade caps its SIPP fees at £10/month, charging a maximum of £120 annually.
Stocks and Shares ISA
If you’d like to get the tax benefits of an ISA, IG provides a flexible offering because any withdrawals made from your account will not impact your overall allowance. There are over 17,000 global stocks and ETFs available, and you get the option to invest in UK shares for a £3 commission.
Experienced investors can opt for the share dealing ISA, and benefit from commission rates similar to the share dealing account while avoiding capital gains tax on profits. Those who prefer a hands-off approach can get a custom portfolio via the IG Smart Portfolio feature.
Share Dealing Accounts
Delving into share dealing accounts on IG, what immediately stands out is their affordability.
When buying and selling shares through IG, you can benefit from the zero commission on US shares and a modest £3 fee on UK shares. The foreign exchange fee, at just 0.5%, further contributes to cost-effectiveness.
Clients get access to over 12,000 shares, funds, and investment trusts with the opportunity for out-of-hours US share dealing
Features 10/10
Here’s an overview of the features offered on the IG platform.
- Comprehensive research and analysis tools
- Free screener, signals, and alerts
- Comprehensive educational content
- Some features are paid
- IG SmartPortfolios attract multiple fees
- Pro Real Time attracts monthly fees for those who trade less than four times monthly
Trading Tools
IG offers a range of sophisticated trading tools that cater to traders of various levels, from novices to seasoned professionals.
API Integration
Clients can leverage IG's API Integration feature, which seamlessly connects their trading accounts with custom-built platforms. What users like the most about this feature is that it allows them faster order execution and better trade management capabilities.
Free Trading Signals
IG's Free Trading Signals provide insights for traders in forex, indices, and commodities markets. These signals, generated by Autochartist and PIA-First analyses, offer real-time trade ideas. This is a great option if you like the convenience of receiving alerts directly on your mobile or desktop devices.
IG Trade Alerts
You can stay in tune with market movements with IG's Trade Alerts feature, enabling you to seize opportunities driven by economic events and price shifts. These alerts, delivered via email, SMS, or push notifications, cater to both beginners seeking valuable market insights and experienced traders who require swift responsiveness.
Stock Screener
IG's stock screener offers efficient stock filtering based on fundamental data like market cap, EPS, dividend yield, profit margin, and ROI. It enables precise screening by criteria like country, sector, and more. An effective tool for traders seeking targeted stock selection.
Pro RealTime
ProRealTime is an online trading software that’s integrated with the IG trading platform, offering advanced technical analysis and automated trading capabilities.
It grants a one-month free trial and remains free as long as you engage in a minimum of four trades per month. However, if your trading activity falls below this threshold, or if it's of considerably low value, a £30 fee is incurred on the final day of each month.
Educational Materials
IG's educational resources are quite diverse, including an academy, webinars, and blog content covering trading, investment, and market insights. Their trading podcast covers valuable discussions, while detailed analyses of news events and financial trends provide even deeper insights.
IG Smart Portfolios
IG Smart Portfolios provide expertly managed and broadly diversified portfolios across global markets, including fixed income, equity, and alternative investments like gold and property. These portfolios are managed at relatively low costs and are tailored to align with your risk appetite and financial objectives.
To create your customized portfolio, you’ll be asked a couple of questions to help IG determine your goals and investment targets. Your personalized portfolio will usually cover a range of asset classes and geographies, including bonds, equities, and unique assets.
Fees – 8/10
Here are the intricacies of IG Broker's fees and charges.
- Low and competitive spreads
- Low non-trading fees
- Competitive commissions on US shares
- Inactivity fees apply
- High commissions for shares CFDs
- Foreign exchange and custody fees apply
IG Trading Fees
IG's share dealing fees are quite competitive, with zero commission on US shares and just £3 on UK shares (when you trade three or more times a month). The foreign exchange fee is only 0.5%.
Here’s how IG compares to some competitors;
IG | AJ Bell | Interactive Investor | |
|---|---|---|---|
Best rate on US shares | Free | £9.95 | £5.99 |
Best rate on UK shares | £3 | £4.95 | £5.99 |
Fx conversion fee | 0.5% | 1% | 0.25% – 1.5% |
Commissions on trades placed by phone | £40 for UK shares and £50 for US shares | £29.95 | £49 |
Here are the fees associated with IG Smart Portfolios.
Total portfolio value | Management fee | Transaction costs | Average ETF costs | Total fee |
|---|---|---|---|---|
£0 - £50,000 | 0.5% | 0.07% | 0.15% | 0.72% |
Over £50,000 | Free | 0.07% | 0.15% | 0.22% |
Say you invest £40,000, here’s how IG Smart Portfolio compares to competitors in terms of fees.
IG Smart Portfolio | Wealthify | Moneyfarm | |
|---|---|---|---|
Management fee | 0.5% | 0.60% | 0.75% |
Fund costs | 0.13% | 0.16% | 0.20% |
Transaction costs | 0.09% | 0.0% | 0.09% |
Total annual cost | £288 | £328 | £371 |
IG Spreads
The spreads you get on IG are pretty much within the industry average, and since there are low commissions on most assets, it's expected that some trading costs have been built into the spreads.
Indices like FTSE 100 and Germany 40 start at 1 point, while Wall Street stands at 2.4 points. Forex pairs maintain competitive spreads, with EUR/USD at 0.6 and USD/JPY at 0.7, while commodities like Spot Gold at 0.3 and Spot Silver start at 2 points.
IG Non-Trading Fees
IG doesn’t charge any account, withdrawal, or deposit fees, but two years of inactivity set you back £12.
IG Broker generates revenue through various channels. Primarily, it profits from spreads (the difference between buying and selling prices) on financial instruments like CFDs. Additionally, IG charges commissions on certain trades, particularly UK and US shares. Overnight financing fees and non-trading fees are also notable sources of revenue for the company.
Usability – 7/10
Here’s an overview of the IG platform’s usability.
- Supports numerous APIs
- Easy portfolio management and customization
- Free news and market updates
- The app has a limited range of analysis tools
IG Web Trading Platform Review
The web trading platform is a key feature of any online trading experience, serving as the interface between traders and the markets. In this section, we delve into the IG Web Trading Platform, analyzing its features, design, navigation, and functionality.
IG's web trading platform is designed with both beginners and experienced traders in mind. Its intuitive interface and user-friendly features make it suitable for those new to trading, while its comprehensive tools cater to more advanced users.
Design and Navigation
IG's web trading platform boasts a simple and clean design that provides traders with an instant overview of market prices, spreads, and margins. The layout lets you monitor price movement, trade from charts, and manage open trades with ease.
Login and Security Features
IG offers robust login measures to protect users' accounts. The platform includes multi-factor authentication options, adding an extra layer of security to user logins.
Search Functionality
The search functionality on IG's web trading platform is efficient and effective. Users can quickly locate instruments, markets, and other trading elements using the platform's search bar.
Alerts and Notifications
IG's platform includes a range of alerts and notifications to keep clients informed about market movements and changes. You can set alerts to trigger based on specific conditions, such as when a market moves a certain amount or hits a particular price level.
Portfolio Management
IG's web trading platform offers tools for effective portfolio management, and traders can manage their positions, monitor their trades, and assess their performance seamlessly. While trading, you can set orders to open at chosen levels, select expiry dates or close manually.
IG App Review
IG's app provides a range of powerful tools for trading on the go.
For iOS users, the app offers a clear view of account balances, open orders, and trade history. It's also easy to trade directly from the interactive full-screen charts with technical indicators and drawing tools.
The Android app lets you enjoy full dealing functionality, including various risk management tools.
From guaranteed stops to real-time price updates, both platforms share the same breadth of markets, though the Android app has more advanced order types.
Customer Satisfaction & Reputation – 7.5/10
Customer satisfaction and reputation are crucial aspects when evaluating any investment platform, including IG Broker. This section delves into real-world experiences of traders and investors with IG and the measures it takes to ensure a secure trading environment.
- Strong regulatory oversight
- FCA-backed Guaranteed Stop Orders
- Diverse accessibility
- Occasional technical glitches
- High fees & large spreads
Safety & Regulations
Is IG Regulated?
Yes, IG is regulated by respected financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. These regulatory bodies ensure that the broker operates within legal and ethical frameworks, providing users with a trustworthy trading environment.
Is IG Safe?
IG strives to ensure clients’ safety through several measures. They segregate customer funds, keeping them separate from operational funds, even in case of financial issues. The platform offers robust security features, including two-factor authentication (2FA), to protect user accounts from unauthorized access.
IG Background
For over 45 years, IG Broker has been providing investment services and now has over 313,000+ clients worldwide who access 17,000+ financial markets globally. With a legacy dating back to 1974, the broker has sales offices in 17 countries across five continents and is regulated by multiple top-tier regulatory institutions.
IG ensures clients’ funds are maintained in segregated client bank accounts, providing a clear separation from its own assets. This ensures that your money and assets, such as shares, remain distinct from the company's resources, even in the event of IG's insolvency.
Regulated by both the FCA (Financial Conduct Authority) and ASIC (Australian Securities and Investments Commission), the broker adheres to stringent regulatory standards, including anti-money laundering (AML) regulations.
Additionally, IG offers negative balance protection, shielding you from losing more than you plan to, even in volatile markets.
Customer Reviews
Discovering a platform's real-world performance and user experiences is crucial when evaluating its suitability. Let’s delve into the candid feedback and reviews from IG users across different platforms.
IG on Trustpilot
With a rating of 3.9 out of 5, IG receives praise on Trustpilot for its user-friendly trading interface and extensive range of instruments, offering traders lots of options.
Clients are pleased with the responsiveness of IG's customer service, emphasizing its effectiveness in addressing technical issues and queries. The educational resources provided, including webinars and market insights, also receive positive feedback.
On the flip side, concerns have been raised about technical glitches that occasionally disrupt trading activities. Some traders find the fees and spread less favourable compared to alternatives, specifically because IG charges commissions for some stocks while many platforms don't.
IG on the Google Play
With a 4.1/5 rating, the IG mobile app on Google Play earns praise for its accessibility and smooth navigation, letting clients trade on the go. Users loved the app's intuitive interface, which caters to both novices and experienced traders. However, some reviewers express a desire for more advanced features and enhanced charting tools within the app.
IG on the App Store
With a 4.5/5 rating in the App Store, IG's mobile app garners positive attention for its reliability and consistent performance. Traders appreciate its stable platform, ensuring seamless trading experiences, alongside useful educational resources.
Despite these strengths, users desire more advanced charting features, including customization options and enhanced technical analysis tools. Syncing issues between devices have also been mentioned, alongside reports of occasional order execution delays impacting trading precision.
Customer Service
IG provides customer support between 8 am on Saturday and 10 pm on Friday on several channels.
Phone | 0800 195 3100+44 (20) 7633 5431 |
|---|---|
Live chat | Via your account dashboard |
IG Alternatives to Consider
If IG Broker doesn’t seem like the right fit for you, here are some alternatives that could potentially align with your unique trading preferences and goals.
FreeTrade
Freetrade can be a great option for cost-conscious investors seeking a low-cost trading platform focused on shares and ETFs. The platform's flat fee structure for standard and plus plans may particularly resonate with investors with higher-value portfolios, as opposed to percentage-based platform fees common among mainstream platforms.
Freetrade's diverse investment range is plan-dependent, ranging from over 1,500 UK, US, and European shares and ETFs for the basic plan, to 6,000+ investments for the standard and plus plans. Fractional shares are available, making it a viable option for beginners.
Who is it for? Those who would like to trade shares without commissions.
Interactive Investor
Interactive Investor presents over 40,000 investment options, including shares, funds, investment trusts, and ETFs. Uninvested cash balances garner interest, ranging from 0.5% to 2% based on the account type and balance.
The range of plans, including the Investor Essentials, Investor, and Super Investor, ensures flexibility. While fractional shares, cryptocurrency, and forex trading are absent, the platform's extensive investment choices and competitive plans make it noteworthy.
Who is it for? Anyone who wants to access a range of account types.
Nutmeg
Established in 2012 and later acquired by JP Morgan in 2021, Nutmeg offers investment and robo-advisory services to over 200,000 clients. Their managed portfolios, diversified across a multitude of ETFs and funds, cover a wide range of investment options, including offerings from prominent providers like Vanguard, iShares, and Invesco.
The minimum investment stands at £500 (£100 for LISA) and is coupled with the flexibility of monthly investing. While particularly attractive to investors with portfolios above £100,000 due to a low 0.35% platform fee, it stands out for its range of investment offerings, including ethical portfolios.
Who is it for? Anyone who wants better robo-advisory services than IG has to offer.
Should You Invest With IG?
Considering its diverse investment products and user-friendly platforms, IG presents an attractive proposition for both novice and seasoned traders. While IG's fee structure is generally competitive, you should consider the commissions levied on certain CFDs (such as UK stocks) as well as the average spread, as these can add up and increase your trading cost.
Overall, the broker is quite reputable and can be a good place to start if you’re looking for a low-cost platform with various tradable instruments.
