Featured Broker: IG - Cryptocurrencies, 15k+ markets, 185k active clients & LSE listed  (Read IG Review)

IG Review

Founded in 1974 by Stuart Wheeler as IG Index, IG are a publicly listed broker head quartered on Cannon Street in London. As of November 2017 IG was valued at over £2.4bn with an active client base (as of May 2017) of over 185,000. IG has offices in Dusseldorf, Geneva, Madrid, Milan, Paris, Stockholm, Shanghai, Melbourne, Singapore, Tokyo, Chicago, Johannesburg and Dubai.

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Quick IG Info:

  • IG offer around 15,000 through their spread betting, CFD trading and share dealing services.
  • IG are also a cryptocurrency broker, where you can trade Bitcoin and Ethereum (Ether) as a spread bet.
  • The recently launched a stockbroking service which allows you to invest in stocks via an ISA or SIPP account and ETF’s through their Smart Portfolio service.
  • IG are listed on the London Stock Exchange, see the IG share price on Google Finance here.
  • Over 185,000 active clients as of May 2017 (source: iggroup.com)
IG Example Spreads (screenshot from IG.com 28.11.17)

Key Products:

  • Financial Spread Betting
  • CFDs (Contracts For Difference)
  • Cryptocurrencies
  • Stock Broking
  • Mini Prime Brokerage
  • Private Client and Institutional Accounts
  • DMA (Direct Market Access with Level 2 Pricing)
  • Weekend Trading (some indices and FX pairs are available on Saturday and Sunday)

Payment methods:

  • Cards: Visa, Mastercard & Maestro
  • Paypal: no additional cost
  • Bank Transfer

IG Trading Platforms

IG offers their own in-house developed web based trading platform, as well as smart phone apps, although they have recently stopped supporting the Apple watch. MT4 is also available.

Visit IG Website

Research & Analysis

IG offer a wide range of sentiment tools for clients, especially in the Index and FX market after the purchase of DailyFX.com, which incorporates a lot of educational material and tools for clients.

The news and analysis portal covers the major news wires and also provides exclusive content such as:

  • Trade of the week – a weekly video highlighting significant moves
  • IG client sentiment data (what percentage of the client base is long or short)
  • The week ahead section – covering upcoming potential market moving economic announcements
  • IG community – where clients can share ideas, discuss the market and new products
  • Technical analysis and trading signals – these are provided by PIA-First once logged in and on the main market data section of the website by Autochartist
PIA-First trading signal example (screenshot taken form trading platform on 28/11/17)

Limited Risk Accounts

IG limited-risk account can protect clients from taking on too much risk, by ensuring that all the positions opened will not lose more than the initial deposit required to open the trade.

All positions through limited risk accounts will need to have a guaranteed stop, to put an absolute limit on the potential loss and give watertight protection against slippage. There is no additional charge for this extra protection unless the guaranteed stop is triggered.

The following features are not available on a limited-risk account:

  • ProOrder automated trading
  • Some risk-management tools, such as trailing stops

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FCA regulation

CFD, share dealing and stocks and shares ISA accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority. Excludes binary bets, where IG Index Ltd is licensed and regulated by the Gambling Commission, reference number 2628. IG Index supports responsible gambling, for information and advice please visit www.gambleaware.co.uk.

What are IG spreads and pricing like?

Indices

Market name Minimum bet Available spread Margin factor
FTSE 100 DFB
24 hours
£1 1 0.5%
Wall Street DFB
24 hours
£1 1.6 0.5%
Germany 30 DFB
24 hours
£1 1 0.5%
Australia 200 DFB
24 hours
£2 1 0.5%

Shares

Share category DFBs Near quarter Far quarter Very far quarter 
FTSE 100 shares 0.10% 0.20% 0.40% 0.60%
Major US shares 0.10% 0.35% 0.45% 0.60%
Major European shares 0.10% 0.35% 0.45% 0.60%

With share spread bets, we offer permanently low spreads on thousands of shares, given as a percentage of the underlying market value. We subtract the spread from the market value to get a Sell price, and we add it to the market value to get a Buy price.

Forex

Market name Min
bet 
Min spread Ave spread* Margin required
Spot EUR/USD £1 0.6 0.75 0.5%
Spot AUD/USD £1 0.6 0.75 0.5%
Spot EUR/GBP £1 0.9 1.17 1%
Spot GBP/USD £1 0.9 1.34 1%

Commodities

Market name Minimum bet  Spread Margin factor
Spot Gold £5 0.3 0.7%
Spot Silver £3 2 2%
Oil – US Crude £2 2.8 1.5%
Oil – Brent Crude £1 2.8 1.5%

If you keep a Daily Funded Bet (DFB) or Cash CFD position open overnight (after 10pm UK time) we will make an interest adjustment to your account, to reflect the cost of funding your position. The interest adjustment is based on 1-month interbank funding rates (eg. LIBOR). We debit your account if your position is long, and credit your account for a short position – if the interbank funding rate is greater than 2.5%.*

For nearly all our markets, this is calculated in the same way for both spread bets and CFDs. For forex, the funding cost is calculated differently. See the table below.

Daily funded bets and cash CFDs

Long positions Short positions Forex positions
We charge 2.5%* above the relevant interbank rate.

Eg. If the relevant interbank 1-month rate is 0.5%, you would be charged 3.00% (annualised).

You receive the relevant interbank rate, minus 2.5%*.

If the interbank rate is greater than 2.5%,* we credit your account; if the interbank rate is less than 2.5%,* your account is debited.

Eg. If the relevant interbank 1-month rate is 0.5%, you would be charged 2.00% (annualised).

For forex positions, we charge funding based on the current tom-next rate.

Tom-next shows, in points, the difference between the interest paid to borrow the currency that is being notionally sold, and the interest received from holding the currency.

*3% on mini and micro CFD contracts

Share Dealing Charges:

UK shares

If you don’t have a spread betting or CFD account that’s accessible under the same login as your share dealing account, or you’ve not placed at least one spread bet or CFD trade in the previous month, your commission on UK stocks will be determined based on your share-dealing activity.

Number of trades (in previous month) Commission per trade* Minimum charge online Minimum charge phone
10+ trades £5 £5 £40
0-9 trades £8 £8 £40

* Please note that rates are valid up to £25,000 trade consideration. Rates above this trade size are agreed by negotiation. Please call 0207 663 0336.

If execution of a trade takes place over multiple days, you will be charged commission for each day where a proportion of the trade is filled.

International shares

For all other shares, we charge the following:

Region Commission per trade Minimum charge online Minimum charge phone
USA 2 cents per share $15 $50
Ireland 0.1% €10 €50
Germany 0.1% €10 €50
Netherlands 0.1% €10 €50
Belgium 0.1% €10 €50
Austria 0.1% €10 €50
Australia 0.1% A$10 A$50

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