IG Review

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May 10, 2012 By: , 11 Comments

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IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets – including shares, indices, forex, commodities and binaries.

Established in 1974 as the world’s first financial spread betting firm, its aim is to become the default choice for active traders globally. It is already an award-winning multi-platform trading company, the world’s No.1 provider of CFDs* and a global leader in forex, and will be launching its new execution-only stockbroking service in late 2014.

It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific and the US, where it offers limited risk derivatives contracts via the Nadex brand.

*Based on revenue excluding FX, published financial statements, August 2013.

Trading Market

With an IG account you can place a spread bet on almost anything and can even make your own tailored bets on commodities, indices and forex. You can also choose which type of account you would prefer to trade under; a Limited Risk account which offers guaranteed stops to your trades, or a Plus Account, which offers tight spreads and maximum functionality. More and more spread betting firms are offering them, but IG has the most fantastic range of Binary Bets available.

Betting Platforms

You can use IG online through their website, without the need for downloads. The functionality of the site is superb. One of its best features is the IG Autochartist, which automatically monitors the markets for you and keeps you updated with any potential trading opportunities that it forecasts. Alternatively you can download an application to your smart phone to use the full functionality of the site wherever you are. The IG iPhone app was named in the Sunday Times 2010 App list, and was described as indispensable. I’m sure IG account holders agree with this sentiment.

Benefits

If you have enough liquid capital you may not need to make an initial deposit into IG. Those who can prove their worth can take advantage of a credit account with the company. This can be a great asset, but as with all credit in life you will pay an administration fee for the service. Alternatively you can deposit money free of charge from a Debit card.

The training programme available from this site is fantastic. You can also take advantage of a six week Trade Sense training package, which allows you to get a feel for spread betting through six modules that cover all aspects of the trading process. At the start of the programme you bet real money, but can bet anything as low as 10p per point, to ease yourself in. The training at IG is currently unrivalled by any other spread betting site. From a day trader point of view, there is nothing bad that can be said about IG.

Special Offers

There is currently a refer a friend scheme running on IG, which rewards you whenever your friend places a bet worth more than £1. Although it won’t provide you with the instant boost that similar sites offer, this could end up benefiting you more in the long term, especially if you refer a number of friends. You can also attend real life seminars at any of the company’s regional offices; in Bristol, Birmingham, Edinburgh, Leeds, or Manchester. The company’s chief market strategist, David Jones presents these seminars and they can be extremely useful regardless of your spread betting experience.

Site Strengths

  • Full individual client fund segregation
  • 99.5% of trades executed in 0.1 seconds
  • Over 70 FX pairs from 0.8 pips
  • Over 7000 global shares
  • Free premium live Reuters news
  • Trade on advanced charts
  • Free custom IG apps for all smart phones and the iPad
  • No re-quotes
  • No inactivity charge, no obligation to fund or trade
  • Open an account online in 3 minutes
  • The available training resources
  • The ‘real life’ seminars

Site Weaknesses

  • None

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