Is IG Binary Options Broker good Find out in our review!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

IG Binary Options review

Rating:

A proficient broker is always a good friend and partner. This is even more significant if you are eager to trade binary options. But where to find a decent binary broker? Fortunately, we are here offering a decent solution – IG Binary Broker. If you are interested, then read our review!

Min. Deposit: $10 Demo: Yes

Platform: Custom Bonus: N/A

Regulation: FSA US Clients: No

Sign up with IQ option Instead
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Honest 24option review: About the Company

IG broker is the veteran of financial companies, which headquarters is located in the UK. Beside being one of the global leaders in online trading, it provides swift and flexible access to more than 10,000 financial markets. Their trading experience and history is just stunning. The company was established in 1974 as the world’s first spread betting firm. Its main aim is still to become the default choice for active traders around the world. Being already an award-winning multi-platform trading company, it is the first-class provider of CFDs and one of the leaders in Foreign Exchange. IG Binary Options review also admits that IG is a member of the FTSE 250 with market capitalisation of 2.9 billion GBP , with many offices across Asia, Europe, Africa, America in 17 countries. In addition, IG is regulated by FSA. Unfortunately, it does not accept US clients.

It has so much to offer not only to CFD or Forex trader, but to BO one

IG Options Review: Trading Markets

The amount of financial markets available is impressive. Among many others are:

The access to trading these markets is fully available through their trading platform.

IG Options Accounts reviews

IG broker has not created multiple trading accounts that may confuse a trader. Instead you are offered 2 types of trading account with minimum deposit evaluated 10 EUR. IG Binary Options review outlines the following:

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

  • Trader
    This kind of account is targeted towards pro and experienced traders and thus requires the trader to meet the actual standards as stated in the MiFID regulations.
  • Limited Risk
    This account type does not differ much from the Trader account, by it has limited risk as specified in the name. It is more suitable for less proficient traders and perhaps novices.

Moreover, with both types of trading accounts, IG’s trader will be granted an access to more than 10,000 markets. Such colossal amount would strike anyone. But that is not all. As the matter of fact, IG offers an execution merely stockbroking account for those traders who desire to only trade in the equity market.

Beside accounts that need to be funded, you can use a demo one to backtest the service IG offers. Additionally, you can practise options trading by exploiting the IG platform in a risk-free environment. Well, in our IG Binary review we should pinpoint main differences to be aware of: Trades made through the demo account will not be subject to slippage, dividend adjustments and interest or out of hours price moves; Trades will not be rejected, which may take place on a live account; The last one – you will not be charged for chart packages.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

IG Options Trading Platform

IG Broker understands how important is to satisfy all needs of the traders. Therefore, IG has divided their trading platforms into two categories:

  • Core platforms
    Well, the core platforms were designed with mobility in mind particularly for those traders who are permanently on the move. In fact, these core platforms consist of IG’s award winning web based flagship trading platform, mobile trading apps sharpened for smartphones and tablet users, including iPad and Windows tablets.
  • Specialist platforms
    IG’s specialist platforms are designed for advanced traders and for those who desire to reach the high level of proficiency. IG Binary review informs that those specialist platforms encompass the following: Level 2 Dealer Platform – provides direct market access for IG’s traders; ProRealTime Platform – offers an improved charting package and other monitoring tools; MetaTrader 4 – this is an industry standard platform for spot Forex trading and CFDs.

IG Options Deposits and Withdrawals

IG Options offer the following ways to make the deposit: you can use credit/debit card, Internet Bank transfer and Telegraphic Transfer, DBS/POSB Bill Payment and Standard Chartered Bill payment.

If you want to withdraw your funds, you again need to use credit/debit card and Internet Bank transfers.

IG Options Customer Support

Customer support there is wonderful at IG Binary Broker. They have proficient and trained staff that responds once you request their aid. With such long experience behind the company, IG has spent many years to create decent customer support and educational materials.

The website itself supports 11 languages. Among them are: English, Russian, French, German, Italian, Spanish, Portuguese, Japanese, Chinese, Swedish and Dutch.

You can reach customer support 24/7 by dialing respective phone numbers or emailing them. In addition, you can use live chat to speak directly with a support agent in real-time.

IG Options Account Application

Making an account application at IG Options broker is not difficult. The first thing you should do is to fill out the basic form that may take only 5 minutes to complete. Then you have to send your documents to the broker. In turn, IG Options must validate your ID and residential address and also assess your knowledge or prior experience in trading. After that you can place your first trade.

Some IG Binary Options Reviews say that such account application is inappropriate. However, this company tries to identify who you are, because it is interested not only in your money, but in your trading proficiency level and reliability.

IG Options Review Conclusion

Is IG Broker the right choice? It depends. It provides a huge diversity of trading markets, gives you all the necessary tools and first-rate trading platforms but what if you just want to trade options? We would suggest you pick one of the Best Binary Options Brokers.

But, if you want our recommendation, it is definitely 24option!

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

7 Binary Options

We recommend choosing one of our top binary option brokers instead:

Min. Invest Min. Deposit Max. Returns
All brokers >>
Min. Invest Min. Deposit Max. Returns

Try also Binary Option Robot if you are looking for automated binary trading.

IG is a UK binary options broker offering trading opportunities in Forex and binary options. The IG Group is a company that was founded in 1974 and, with over 40 years of experience.

It has proven itself as one of the top financial instruments provider by winning many prestigious awards. The broker offers premium tools and trading conditions which are almost sure to bring excitement and profit to all traders.

Basic information:

Online since: 2003
Jurisdiction: FCA (UK), ASIC (Australia), MAS (Singapore), FMA (New Zealand)
Software: proprietary software
Max Returns: 80%
Bonus: 100%
Minimum Deposit: $200
Minimum Investment: $5
Maximum Investment: $3000
Currencies: EUR, USD, GBP, CHF, JPY, CAD
Mobile: Yes
Countries: All nations except USA

– Licensed by many influential authorities
– Helpful educational resources
– Offers a demo account option

– Doesn’t accept the traders from the US

7 Binary Options Rating:

IG Account Types and Features

IG has a very simple and straightforward structure and offer, where traders can choose between just two different account types:

  • Demo account
  • Real trading account

Firstly, the Demo account is very easy to open and use. The account offers 10,000 virtual funds which function like points you can use to place trades. While this is, of course, a limited amount you can use the funds for as long as you’d like to learn the ropes by making your first trades with the broker, practice your skills, and develop a viable strategy before risking your investments.

IG Option offers Corporate Accounts

While we found the points structure very useful, it might take some time to get used to it and later transfer to real money trading.

You can open a Real money trading account by depositing at least $200, which provides a unified account for all the clients, with the same features and traits. The account provides access to the many assets, an educational center, interesting and useful trading tools, and high-quality customer support.

IG does not offer deposit or trading bonuses and, while some consider this a down-side, we found this a sign IG is a place for traders rather than gamblers. The terms and conditions have no withdrawal requirements hidden in fine print and trading opportunities are very transparent, with funds as safe as possible with no chance of getting locked in your account because of bonuses you might have accepted.

Have you tried automated trading yet?

Many successful binary option traders use the best fully automated trading software in the market that got the astonishing average winning rate of 91% in our test – Option Robot. The award winning software allows you to trade more profitably with less work. The best thing about it is that it is now completely free for our readers, but probably not for very long time, so I recommend you to try it out today.

Other recommended auto trading robots:

IG Trading Platform

IG uses a proprietary trading software with an innovative and interesting design which delivers good execution times. While you might take some time to get used to the platform, it’s highly intuitive and user-friendly.

The platform is supported on various mobile devices, including phones and tablets. The website looks sharp and professional and we enjoyed the information displayed in tabs and drop-down menus although it can be somewhat confusing for the new traders.

The offer is very diverse when it comes to binary options trading assets and expiry times but there are no expiry times under five minutes so there are probably better spots for traders who look for short-term and fast-paced trading opportunities. The options trading includes high/low, one touch, ladder, target, and tunnel types.

Screenshot

IG Regulation and Customer Support

IG is a broker based in the United Kingdom and offers services to a huge customer base around the world. The broker is authorized and regulated by the Financial Conduct Authority (FCA) under register numbers 195355 and 114059.

IG has offices in more than 15 countries worldwide and it’s authorized and regulated in many other important markets such as Australia (ASIC), Singapore (IG Asia Pte Ltd regulated by MAS) and New Zealand (with a company IG Markets Limited).

IG is thus a global financial services provider and offers site and customer support in many different languages. The customer care is top-notch with the broker, with support channels via e-mail, telephone, and site chat which is available 24/5 and highly responsive.

The Education and FAQ

IG has a great educational center, offering both simple trading elements as well as more advanced tutorials to help make the best out of your investments. The video guides will provide instruction on all features available and there are also educational materials on different trading strategies as well as analysis tools.

FAQ section seems to be still in developing phases where we can see some obvious missing details on banking, trade requirements and more. However, the customer support is very competent and available to answer any questions you might have, while also being able to solve technical and other issues users face.

Banking with IG

Banking is very easy and straightforward with IG, where they allow many different payment methods for both deposit and withdrawal. The traders can use bank wire transfers, cheques, as well as a wide range of credit and debit cards including Visa, MasterCard, Maestro, Electron and much more. While not all payment methods will be available in all countries IG offers the services in, it’s safe to say that this is one of the most diverse offers when it comes to transactions.

The IG broker does not accept 3rd party payments processors for further safety and fund security. To restate this, all traders will have to provide personal info and trading experience as well as confirm their ID through a verification process.

The minimum deposit is $200 and the minimum withdrawal is $100. Traders can also make smaller withdrawals but with certain fees and through a procedure that includes a phone call. There are also fees for different deposit and withdrawal methods so it’s best to check these out before depositing. The customer support is very informative and you will be able to easily get to details on your preferred method. For example, the fee for credit card transactions is 1,5%.

Our only objection here is that we’d have to actually contact the support to get specifics, while the site FAQ on banking is practically non-existent. However, we do expect this to be updated with the new FAQ section.

Final Conclusion

Founded in 1974 and online since 2003, IG is one of the top financial service providers in the United Kingdom. Authorized and regulated by regulatory bodies around the world, the broker provides favorable conditions and overall safety and security.

With a minimum investment of just $5 and great returns, IG becomes a top spot for different types of traders through one account type. The withdrawal times range from three to seven days and largely depend on the payment methods you use. The high-quality service is well-rounded with a competent and friendly customer support there to enable the best user experience.

Additional information

Customer Service: email, phone and live chats
Languages: English, Spanish, German, Italian, Swedish and Norwegian
Trading Options: High/Low, On Demand (60 Sec), One Touch, Range
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 60 seconds, 5 minutes +
Deposits and Withdrawals: bank wire transfers, cheques, credit and debit cards including Visa, MasterCard, Maestro, Electron and more
Withdrawal Time: 3-5 working days
Demo account: Yes

IG Review 2020

Summary

Recommended for traders of any experience level looking for an easy-to-use trading platform

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the Financial Conduct Authority (FCA) and the Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

IG pros and cons

IG’s web trading platform is well designed, user-friendly and easy to customize. You will also find many useful educational tools to learn. Funding and withdrawing money is easy and there are multiple options.

On the other hand, IG’s trading fees are high for stock CFDs. The product portfolio is limited, in most countries IG offers only CFD and options trading. The phone support has poor quality too.

Pros Cons
• First-class web trading platform • High stock CFD fees
• Superb educational tools • Limited product portfolio
• Great deposit and withdrawal options • Poor phone support
IG main features and highlights
��️ Country of regulation UK, EU, Switzerland, US, Singapore, Japan, South Africa, UAE, Australia, New Zealand
�� Trading fees class Average
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $0
�� Time to open an account 1-3 days
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 6
�� Demo account provided Yes
��️ Products offered Stock, ETF, Forex, Options, CFD, Crypto, Equities for UK clients, Robo-advisory service in the UK, IPOs

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

IG review
Fees

IG has low fees for stock index CFD, while forex fees are average to low. There is no fee for withdrawal and the inactivity fee is charged only after 2 years. On the negative side, the stock CFD fees are high.

Pros Cons
• No withdrawal fee • Inactivity fee
• Low index CFD trading fees • High stock CFD fee
IG fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.6 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 1.5 is the average spread cost.
EURUSD Average The fees are built into spread, 0.7 pips is the average spread cost.
Inactivity fee Low $12 per month after 2 years of inactivity

We ranked IG’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of IG for each asset class.

We also compared IG’s fees with those of two similar brokers we selected, XTB and eToro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of IG alternatives.

To have a clear overview of IG, let’s start with the trading fees.

IG trading fees

IG trading fees are average. The fee structure is transparent, you’ll easily find information on the website. There are different fee structures for different asset classes:

  • Trading commission for share CFDs, real shares and options
  • All-inclusivespreads for forex, stock index CFDs, commodity CFDs, bond CFDs and even crypto CFDs
  • Administration fee and spreads for Smart Portfolios

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for IG fees.

CFD fees

IG has mostly average CFD trading fees. Its fees are among the lowest when it comes to index CFD trading, but the stock CFD fees are high.

CFD fees for a $2,000 long position held for one week

IG XTB eToro
S&P 500 index CFD fee $2.1 $2.0 $2.4
Europe 50 index CFD fee $1.6 $2.2 $2.7
Apple CFD fee $31.9 $17.9 $6.3
Vodafone CFD fee $25.7 $20.9

Forex fees

IG has average forex fees for EURUSD, GBPUSD and AUDUSD. EURCHF and EURGBP fees are low.

Forex benchmark fees of a $20,000 30:1 long position held for one week

IG XTB eToro
EURUSD benchmark fee $16.9 $15.0 $19.6
GBPUSD benchmark fee $15.1 $11.1 $16.2
AUDUSD benchmark fee $14.1 $10.0 $12.4
EURCHF benchmark fee $6.9 $6.6 $11.8
EURGBP benchmark fee $11.1 $9.9 $19.9

Real stock fees

IG provides real stocks only for some clients, such as residents of the UK or Australia.

Stock and ETF commission of a $2,000 trade

IG XTB eToro
US stock $15.0 $10.0 $0.0
UK stock $9.6 $10.0 $0.0
German stock $11.0 $8.8 $0.0

IG charges a commission for trading with real stocks:

IG stock trading fees
Market Commission per trade Minimum fee
UK – 0-2 trades (previous month) £8 £8
UK – 3+ trades (previous month) £3 £3
USA – any number of trades (previous month) with manual currency conversion $0.02 per share $15
USA – 0-2 trades (previous month) with instant currency conversion £10 £10
USA – 3+ trades (previous month) with instant currency conversion Free Free
Ireland
Germany
Netherlands
Belgium
Austria
0.10% €10
Australia 0.10% AUD 10

At IG, your charges depend on how much trades you have made in the previous months. For example, if you have traded UK trades more than three times before, your commissions per trade for UK shares will be £3 instead of £8.

Smart Portfolios

Smart Portfolios are available only for UK residents.

If you invest in IG’s Smart Portfolios, you will pay a ‘Total Cost of Ownership’ fee, consisting of several components: the cost of the underlying ETFs, the management fee and the spread costs:

IG Smart Portfolios fees
Total value of Smart Portfolio £0 – £50,000 £50,000 – £250,000 £250,000 and over
Average ETF costs Avg. 0.14% (range: 0.17-0.19%)
Management fees 0.65% 0.35% 0.10%
Estimated costs of spreads 0.07% 0.07% 0.07%
Total cost of ownership 0.86% 0.56% 0.31%

Options

IG’s options fees are low, although the contract sizes are also smaller compared to regular exchange-traded options.

Options trading is available only in the following countries: Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden.

IG options trading fees
Market Commission per contract
GBP £0.1
USD $0.1
EUR €0.1

68% of retail CFD accounts lose money

Non-trading fees

It charges no account, deposit, or withdrawal fees. There is also a low inactivity fee of $12 per month, charged after 2 years of inactivity.

IG non-trading fees

IG XTB eToro
Account fee No No No
Inactivity fee Yes No Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $25

IG review
Account opening

IG’s account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.

Pros Cons
• Fully digital • Slower account opening
• Low minimum deposit
• No minimum deposit for bank transfer

Can you open an account?

Visit broker
68% of retail CFD accounts lose money

If you are from the US, you can use only IG’s forex trading, and not its CFD trading.

Minimum deposit

The required IG minimum deposit is $0 for bank transfers and $300 for credit/debit cards and PayPal.

Account types

The country of your residency determines which account type you can open. In most countries, you can trade only with forex, CFDs and options.

IG account types

Some small countries, like Gibraltar, the British Virgin Islands, etc.

Countries Products
All countries, except below Forex, CFD
Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden Forex, CFD, Options
Equity** , forex, CFD
USA Forex

*There are also tax-efficient accounts, such as ISA and SIPP.

**You will need to open a second account for stock trading.

How to open your account

IG has a straightforward and fully digital account opening process. The online registration takes only 5-10 minutes, but the account verification can take a bit longer. Our account was verified after 3 business days.

The 5 steps of IG account opening:

  1. Enter your name, email address, country of residence and select your account type.
  2. Provide some personal details, like your date of birth and address.
  3. Answer a few questions about your financial and employment status.
  4. Provide information about your financial knowledge and fill out a short test.
  5. Verify your ID and residency. You can upload a national ID, passport or driver’s license for verifying your ID. Utility bills and bank statements are accepted for residency verification.

IG review
Deposit and withdrawal

IG offers free and fast deposit and withdrawal. There are various options for funding your account, including traditional methods such as bank wire and credit card funding, as well as PayPal.

Pros Cons
• Credit/Debit card available None
• Free withdrawal
• No deposit fee

Account base currencies

At IG, you can choose from 6 base currencies. The available base currencies are USD, GBP, AUD, EUR, SGD, HKD . This currency selection is better than at IG competitors.

Base currencies at IG vs similar brokers

IG XTB eToro
Number of base currencies 6 4 1

When you open an account, you cannot select your account base currency. You can change the currency of your account only if you write an email to IG’s Customer Service. It would better if you could select your account base currency at the beginning of the account opening process.

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

IG charges no deposit fees. In addition to bank transfer, you can also deposit money via credit/debit cards and PayPal.

In case of bank card deposit, IG accepts:

  • Debit cards: Maestro, Visa, Electron, MasterCard
  • Credit cards: Visa, Mastercard
  • Major prepaid cards
IG deposit options
IG XTB eToro
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

IG withdrawal fees and options

IG doesn’t charge any withdrawal fee. This is a great offer, especially compared to eToro, where withdrawals carry a high, $25 fee.

IG withdrawal fees and options

IG XTB eToro
Bank Transfer Yes Yes Yes
Credit/Debit card Yes No Yes
Electronic wallets No No Yes
Withdrawal fee $0 $0 $25

How long does it take to withdraw money from IG? We tested the debit card withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from IG?

  1. Log in to your ‘My IG’ account.
  2. Select the account you wish to withdraw the money from.
  3. Click on the three dots menu on the right side.
  4. Go to ‘Withdraw Funds.’
  5. Select the withdrawal method you prefer.
  6. Enter the withdrawal amount.
  7. Initiate the withdrawal.

Want to stay in the loop?

Sign up and we’ll let you know when a new broker review is out.

IG review
Web trading platform

IG’s web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.

Pros Cons
• User-friendly None
• Clear fee report
• Two-step (safer) login
IG platforms to choose from
Trading platform Score Available
Web 5.0 / 5 stars Yes
Mobile 4.5 / 5 stars Yes
Desktop No

You can use IG’s trading platform or MetaTrader 4, a third-party trading platform. In this review, we tested IG’s own trading platform.

The web trading platform is available only in English.

Look and feel

The IG trading platform is one of the most intuitive and well-designed web trading platforms we have seen.

You can easily customize the trading platform. The flexible design allows you to move windows around and save layouts. You can create watchlists and there is also a one-click trading feature.

Login and security

You can easily set up two-step authentication. You have to download the ‘IG Authentication’ app on your mobile and activate the two-factor authentication.

Search functions

You can search for products in the sidebar on the left. It works as you would expect. You can also browse available investment options by typing manually or browsing through the asset class categories.

Placing orders

You can choose from many order types:

  • Market order
  • Limit order
  • Stop-loss order
  • Trailing stop order
  • Guaranteed stop order

If you are not familiar with the basic order types, read this overview.

There are also order time limits you can use:

  • Good ’til canceled (GTC)
  • Good ’til date (GTD)

Alerts and notifications

Alerts and notification are all available, they can be set if you go to ‘MyIG,’ then ‘Settings,’ and click on ‘Communication Preferences.’

You can choose from multiple alert and trade/deal notifications:

  • price alert (prices reach an important level)
  • indicator alert (technical tools reach an important level)
  • economic alert (big economic announcements)
  • automated or manual deal opening/closing
  • automated or manual position editing

Portfolio and fee reports

IG provides clear portfolio and fee reports. The main performance and status of your account is available on the dashboard of your live account. By opening the menu on the right, you can see the ‘History’ tab where you can check all the costs and returns on past trades.

Visit web platform page
68% of retail CFD accounts lose money

IG review
Mobile trading platform

The IG mobile trading platform is easy to use and has great functionalities. On the down side, there is no two-step authentication.

Pros Cons
• User-friendly • No two-step (safer) login
• Good search function • No Touch/Face ID login
• Good variety of order types

You can use both IG’s own mobile trading platform and the MetaTrader 4 platform. They are available for both iOS and Android devices.

In this review, we tested IG’s own platform on an Android device.

The mobile platform is available only in English.

Look and feel

The IG mobile platform is very intuitive, similarly to the web trading platform. You can easily find all available features.

The design is OK, nothing great, and not as good as the web trading platform.

Login and security

You can use only a one-step login. A two-step login would be safer.

You can’t use fingerprint or Face ID authentication either. Providing this feature would be more convenient.

Search functions

The search functions are the same as at the web trading platform. When searching, the assets are categorized.

Placing orders

You can use the same order types and order time limits as the ones on the web trading platform.

Alerts and notifications

The mobile platform’s alerts function is not as extensive as the web trading platform’s. You can set only price alerts.

Visit broker
68% of retail CFD accounts lose money

IG review
Desktop trading platform

IG’s in-house developed trading platform has no desktop version. If you prefer a desktop-based platform, you can use only MetaTrader 4.

Visit broker
68% of retail CFD accounts lose money

IG review
Markets and products

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real shares. Other popular assets, like mutual funds or bonds, are not available.

IG is primarily a CFD and forex broker. US clients can only trade with forex products.

You can also trade with stocks if you are from one of the few countries where this is provided, like the UK.

To learn more about CFDs, read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Whether you wish to trade CFDs of currency pairs, stock indices, stocks, ETFs, commodities, bonds, futures or cryptos, you will find an extraordinarily wide selection of products at IG. This stands out compared to the product range of its main competitors.

IG XTB eToro
Currency pairs (#) 95 49 47
Stock index CFDs (#) 68 42 13
Stock CFDs (#) 10,500 1,700 1,900
ETF CFDs (#) 1,900 103 145
Commodity CFDs (#) 47 18 6
Bond CFDs (#) 13 3
Cryptos (#) 8 25 17

You can’t change the default leverage level of the products. This is a drawback, as we believe this is an important factor you should be in control of.

Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, since the pre-set leverage levels are high.

Real stocks and ETFs

You can trade with stocks if you are from:

  • UK
  • Ireland
  • Malta
  • Cyprus
  • Australia
  • Some smaller countries, like Gibraltar, the British Virgin Islands, etc.

IG gives you access to an average number of markets compared to other primarily CFD brokers.

IG XTB eToro
Stock markets (#) 8 17 16
ETFs (#) 2,000 170 145

Options

Options trading is available only in the following countries: Austria, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Romania, Sweden.

At IG you can trade with

  • equity index
  • forex and
  • commodity options.

The most popular equity indexes, forex pairs, and commodities are all available.

You can choose from two option types:

  • Vanilla options
  • Barrier options

68% of retail CFD accounts lose money

IG Smart Portfolio

IG Smart Portfolio is available only in the UK. IG Smart Portfolios are iShares ETF portfolios managed by BlackRock. This is basically a robo-advisory service, e.g. automatically managed low-cost portfolios.

If you prefer to buy shares in IPOs, you can do it with IG. An IPO is an initial public offering, or stock market launch, where a company’s shares are sold to the general public for the first time.

There are two ways to participate in IPOs at IG:

  • IPO Grey Market – this allows you to open long/short positions before the IPO happens
  • After IPO – this allows you to place orders after the IPO happens

Turbo24

IG also offers an innovative product, called Turbo24. Currently, it is available for clients in France, Germany, Spain, Italy, Netherlands, Sweden and Norway.

Turbo24s are exchange-traded products that can be traded 24/5.

When you place an order, you have to enter a knock-out level, which is the price level where your position will be liquidated. Selecting the knock-out level works like selecting your leverage because you have to fund your position up to the knock-out level. If you choose a lower knock-out level, you’ll use higher leverage, while a higher knock-out level means lower leverage.

Visit turbo24 trading

68% of retail CFD accounts lose money

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

Like this post? Please share to your friends:
Guide How To Become Binary Options Trader
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: