Founded in 1974, IG is an online trading and investments provider with sales offices in 14 countries. They claim to be regulated by several financial authorities from around the world, including FCA, but IG itself doesn’t have a banking license. However, its parent company, IG Group is listed on the London Stock Exchange.
The broker offers a large variety of products, but only investors from specific areas can trade some of them. The overall list of products includes: equities, forex, indices, bonds, options, futures and cryptos. Investors from the US and Belgium are banned from trading with this online broker.
Their website is available in English, Italian, Romanian, Portuguese and Spanish.
Account types and deposit options from IG.com
Believe it or not, this online broker doesn’t have any account types. Depending on the kind of trade you want to place, there is a minimum deposit demand or fee. Everything is kind of vague as their fees structure is highly non-transparent and it all seems to be pricey, as any action requires a commission. There is a standard minimum deposit demand of $300 or the equivalent in other currencies.
Platform from IG.com
IG offers three types of desktop trading platforms: L2 Deale, ProRealTime and MetaTrader 4. The first one, L2 Deale is the broker’s own platform and you can use it only if you have a minimum balance of £1,000. ProRealTime implies some costs as well: £30 per month, a sum which will eventually be refunded if you make at least four trades per month. As for the MT4 platform, you can only trade forex, oil and metal CFDs. They also offer two types of web-based platforms and mobile/tablet apps.
Customer support service at IG.com
As we stated at the beginning, IG has 14 sales offices around the world (Chicago, London, Dublin, Madrid, Paris, Stockholm, Geneva, Milan, Johannesburg, Düsseldorf, Luxembourg, Dubai, Singapore, Melbourne, and Tokyo) where you can meet them in person. Apart from that, you can reach them via e-mail, the live chat feature or through the phone. The service is available 24/7.
The safety of your capital with IG.com
Apart from the usual terms and conditions, they provide segregated accounts other two pages explaining how they use your money and how they make money. They are pretty standard, nothing stands out. We wish they would’ve emphasized more things about the risks and the safety of the funds, but there isn’t much to read regarding these matters …
Advantages of IG.com
They offer a large variety of products and a stellar educational center, two features which always count as big pluses! The availability of a demo account is a vital requirement and it’s an excellent thing they have it, as they give you the opportunity to trade with virtual money and get familiar with their platforms.
The customer support service is impressive. The fact that they offer physical offices around the world and their dedication is an admirable advantage that we firmly need to admit.
Disadvantages of IG.com
More than 50% of the information on their website is either vague or non-transparent. We had a hard time figuring out how much they charge for each trade, which are their fees for trading CFDs and their costs for using two of the three desktop platforms.
They do not give a lot of information regarding the safety of your capital, nor about the risks, or withdrawals policies. When we tried to get in touch with the customer support team via the help and support page but we didn’t succeed.
Another big disadvantage is that IG doesn’t guarantee negative balance protection!
Gem or scam?
Our verdict is just as the information on their website: vague. We incline more towards believing it isn’t a scam, as they do have some impressive features that can’t go unnoticed. If you’re thinking about trading with this online broker, make sure you read their statements about the safety of your funds and contact the support team with any questions you have.