IG Review

1.728 · 168 REVIEWS
Updated: Aug 16, 2021 · IG.com  · Is this your company?

IG is a forex broker. IG offers the WebTrader and MT4 trading currency platforms. IG.com offer over 100 forex currency pairs, cfds, commodities, stocks, index, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

IG

Was at IGMarkets.com.  Other websites of this company include IGForex.com, IGIndex.co.uk.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $250
Established: 1974
Address: Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom
Contact: helpdesk@ig.com, (44) 207 896 0079
Regional offices:
Regulators: ASIC #AFSL 220440, FSCA #FSP 41393, DFSA #F001780, FCA #195355 / 114059, NFA #0509630
Prohibited countries:
Trading platforms: MT4, IG Web and Mobile Platform, ProRealTime
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (105+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (16000+) Gold, Silver, Stocks, Stock Indexes, Bonds, Bond Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, PayPal
Withdrawal Methods: Bank Wire, VISA, MasterCard, PayPal

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IG.com profile provided by IG Group, May 13, 2019

The world’s No.1 spread betting and CFD provider*

Our vision
We aim to be a global leader in retail trading and investments. With a strong focus on innovation and technology, we put client needs at the heart of everything we do. This enables us to empower informed, decisive, adventurous people to access opportunities in over 15,000 financial markets.

24-hour support
Our highly trained team is available 24 hours a day from 8am on Sunday until 10pm on Friday, and from 9am to 5pm on Saturday UK time.

Powerful technology
Our intuitive platforms and apps are built for speed and security. We offer a fully customisable award-winning web platform, natively designed mobile and tablet apps, as well as a range of advanced third-party tools.

A global leader in online trading
We are the world-leading provider of contracts for difference (CFDs) and financial spread betting, and the UK’s largest retail forex provider.* We also offer execution-only share dealing, along with fully managed investment portfolios. With over 40 years’ experience behind us, we’re perfectly placed to help you make the most of the markets. *Based on revenue excluding FX (from published financial statements, October 2016). Losses can exceed deposits.

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1.728 · 168 REVIEWS
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Traders Reviews

Spain, Spain,
Aug 14, 2021,
Registered user

False advertisement - it is not ECN

Service use: Other

Length of use: Have not used

At https://www.ig.com/en/trading-platform-devices/trading-platform-features/pricing-execution/cfds-direct-market-access they state that they provide DMA, however, in another part of their site ( https://www.ig.com/en/forex/forex-direct ) they explain that they just "provide a screenshot of the market" and then they you get a CFD with them, and they place an order based on that. Of course I didn't open an account.
 
Ekaterinburg, Russian Federation,
Jul 6, 2021,
Registered user

Мoney was stolen from the account!!!

Service use: Live

Length of use: 0-3 Months

Account ID: IRUGL
MT4 login: 180879

I had almost 5 thousand dollars.
I doubled my profit. When I tried to withdraw funds, they blocked all my attempts. They constantly unsubscribed that they were solving my problem, and in the end they wrote off all my profit. When asked to provide information about the reason, they unsubscribe that they understand the situation, they are constantly asked to provide the same data. I provided all the information, as a result, my money was taken from me. I attach an extract, it shows that I have repeatedly tried to withdraw money, and then there is some kind of write-off for -4,809. 65. But the funds are displayed as 9,798. 65, and in fact only 4,989. 00 is on the account.
In the screenshot, I highlighted the account correction
  1 trader has found this review helpful
NA, Hong Kong,
Jun 24, 2021,
Registered user

Can't withdraw fund

Service use: Live

Length of use: 6-12 Months

I have been with IG for about a year now. I made a few withdrawals and they were successful, However, from May, all my attempts to withdraw have been problematic. Nothing has changed from my side - same banking details as previously. But all of sudden, IG now says it needs 11 characters for your bank swift code - even-though my bank has 8 character swift code only and my previous withdrawal was successful with that code.
then IG said it's ok now, try again - failed miserably again - with a generic message - we're unable to return your fund!
Then they said their IG bank - Lloyd bank rejected my withdrawal as it has invalid country code. I checked and my IG profile country is matching with my domicile (ie Hong Kong)

Still waiting for their reply but my experience with this broker is not positive.
 
Elvina,
Almetyevsk, Russian Federation,
Jun 23, 2021,
Guest

IG has stolen my profit!

Service use: Live

Length of use: 0-3 Months

Recently from my account Account ID: KWCUH
IG has stolen all my profit!!!!
They just cancelled all my profit which i has done.
They do not reply to e-mail, do not provide official letter.
this is terrible!!!
I demand to bring back my profit!!!!
  1 trader has found this review helpful
Chervonohrad, Ukraine,
Jun 22, 2021,
Registered user

my profit was stolen

Service use: Live

Length of use: 0-3 Months

my account number is DW6VV. my profit(around 2000$) was stolen by company or by someone else. i want my money back!!!
 
Baku, Azerbaijan,
May 11, 2021,
Registered user

Terrible customer servive!

Length of use: Have not used

I decided to become IG.com client. Registered and upploaded documents. Systen shows them approved but still asks me activation. I wrote to support on 26th april. They got back on 5 may. today is 11 may and they still did not solve my problem.

This is the first broker who does not want to get new client! ))
 
Newcastle, United Kingdom,
May 10, 2021,
Registered user

Very inefficient customer service

Service use: Live

Length of use: 0-3 Months

I have tried several times to open live account apparently since 3 weeks the team is thinking to open an account or not.
I had a live account with IG before however neither I could transfer fund through my bank account nor I could deposit with my master card or any other credit card the result was I couldn't trade, so I continued with my previous broker.
These people are certainly inefficient in their firm.
Avoid them is the simplest way to save yourself trouble and headache with their inefficiency.
 
Durham, United Kingdom,
Feb 24, 2021,
Registered user

Not for MT4 Expert Advisors

Service use: Live

Length of use: over 1 Year

Hi,

I am a long term user of IG in the UK. I have low expectations of brokers, so don’t find IG too bad. I have not had problems with deposits and withdrawals. However, you are limited in the UK to the low margin regime.

I am an MT4 trader using Expert Advisors and I have grave misgivings that IG understand how to relate to my type of user. I found a couple of worrying discrepancies recently which made me decide to change broker.

Firstly, their variable spreads can be quite alarming and can definitely cause positions with close stops to close.

Secondly, the have different stop limits between their demo and live accounts. It sounds a bit technical but if you have spend a lot of time trying to achieve a sustainable EA using their demo accounts and constraints are different on live accounts, you can immediately start losing real money!

Thirdly IG impose limits on the number of trades on both live and demo accounts (both different again). That limit is not connected to the value being traded. With some EA strategies, you might have large number of charts each with an EA and they could be separately trading numbers of small trades. Possible hundreds of micro trades. A reasonable strategy to spread risk. But IG (and to be fair most other brokers) don’t inform you that the limit exists. You start to see trades being rejected with no obvious reason. Again this means that the EA does not perform in the way it did on the demo account.

Most worryingly, IG have confirmed that they don’t manage their demo accounts (I don’t know who looks after them). Nor could they even tell me what the trades limit is on their demo accounts. I had to find the number of trades allowed using a query supplied by Expert4x.

It would not be unreasonable to assume that a demo account mirrors a live account. You would think that was its purpose. Up to now I was only aware that the slippage may differ because demo trades don’t queue to get through the broker accounting system. From the above you will see that IG clearly don’t understand MT4 EA traders and thus are not organising their systems appropriately.

Noexpert
 
michigan, USA,
Feb 11, 2021,
Registered user

Good luck getting your money back

Service use: Live

Good luck getting your money back if you live in US and deposit with debit card. Long story but they wont believe I am a real person. Wow this place is a poo hole!!!!
 
Philadelphia, USA,
Jan 20, 2021,
Registered user

Update on latest post

Service use: Live

Length of use: over 1 Year

1/20/21The withdrawals that I made have cleared and are back in my bank account. I received an email from the trade desk, that outlined everything that was needed and was very helpful. If an account is closed you can call the bank and receive statements for up to 7 years. Below is the email. This was a good lesson for me, and is why I am sharing it here. It is very important to document everything, and keep your bank statements with deposit/withdrawal transactions with IG, either saved in PDF, or print out a hard copy, so you can scan later. You never know, a regulation can change in the industry, and you can potentially have funds froze. Not fun! Here is the email: I DID EDIT THE SENSITIVE INFO OUT OF IT.

Dear ,

Thanks for your email and I apologize for my delayed response. The withdrawals you made were successful. Next, to alleviate any future delays of withdrawals, we will still need to verify the cards you have previously used. You can get bank statements from your bank going back up to 7 years so this request should not be a problem for your bank(s). I will list when the last transaction into IG made with each of the debit cards that you have used so you can get bank statements for each of these cards.

- Card ending in xxxx the last transaction was April 19th of 2019
-Card ending in xxxx the last transaction was October 16th of 2019
-Card ending in xxxx the last transaction was July 28th of 2020.

As I have mentioned previously this verification is due to US regulations and is required of all Forex brokers.

If you have any further queries, please do not hesitate to contact us.

Regards,

Trading Services

Jan 18, 2021 - 2 Stars This is a warning to all who are considering IG (US broker). I have been trading with them for 2 years, I actually wrote a review back in May. As of this week I am no longer trading with them. To make a long story short, apparently a few weeks ago the NFA passed some new regulation requiring IG clients to upload and verify ALL deposits from their bank accounts by bank statement (either a screen shot or pdf). This is not new as it is for them to be compliant with anti-money laundering laws. I am totally fine with this, I have verified in the past, NEVER had a problem withdrawing. Where the problem came this past week was I tried to withdraw almost $30K from my account. I had to verify with my bank statement, no problem. I received an email that everything was verified, great. When I tried to withdraw I could not. I emailed the help desk, and they said I should be able to withdraw. Later in the evening I tried again and failed to withdraw, and emailed the help desk again. I received the cookie cutter reply that I need to prove my deposit from a debit card from 2 years ago, of which the account is closed and I have NO access to. I told them that, and got the same cookie cutter response. I threatened legal action, and said I was going to formally enter a complaint with the NGA and asked for the help desk person's ID number...No reponse. I reached out to my sales contact, and he elevated it. The next person was pretty much useless, as he told me the same thing about the old debit card. I explained again that the card, account, access are closed and that I cannot access any bank statement from that account. I did say that they should have all of my records of proof of deposits with bank statements, since I did it in the past, and that they should have those records since they are for compliance with Anti-money laundering laws...No reply. I did randomly Friday night try to withdraw, and according to my account it did withdraw, but I received no confirmation email. I'm hoping to see in a few business days if this was successful. It is for this reason that I will no longer be trading with IG. WATCH OUT!!!

May 22, 2020 - 5 Stars I joined FPA yesterday with the intention of totally ripping IG apart, given what happened yesterday when they had a global platform outage. As things unfolded, representatives from IG really stepped to the plate. I will explain below.

I have been trading with IG for over a year. Before opening an account, I checked out several brokers. I opened demo accounts with each broker and demo traded my strategy. I have been trading a number of years before delving into Forex, trading stocks and commodities.

I opened an account with both IG and one other broker. I really love the IG trading platform from the website, it is very robust. I do not trade the news but i love the newsfeed as well. I trade mostly from my phone using the mobile app, and I really love the charting on it as well. I also love the functions of using the app, buying and selling, setting alerts, stop and profit targets etc. Very easy to use and robust.

With regards to funding, yes I did have some issues withdrawing via ACH. I had to send a scan/screenshot of my bank statement in order to show that my deposited funds came from the same bank account that i was withdrawing to. This is an anti-money laundering measure that IG as a broker is required to do in order to be in compliance. The helpdesk was always quick to reply and address my concerns when this happened.

With that being said, I started depositing and withdrawing via my debit card, which has been great. I never had a problem with this. There were times where i wanted to deposit a larger amount, like $30K, and i would just call my bank to approve the charge, then deposit that amount into the account. Again, withdrawing was never an issue.

To make a long story short....yesterday IG had a global outage. I had 2 positions on, with stops in place. The price moved against me so i decided to just get out early. All it showed on the mobile app was the "Service Connection Failure" message. I tried signing in to the website, and it was frozen, then said "Unexpected Error". I called the trade desk 5 times and the received the message of the call not being able to be completed as dialed. I was like WTF! I took screenshots of all of this as it was happening, and i was prepared to write a review here, and file a complaint with the NFA. My stops were hit, and had a loss of $300, not a major loss, but still i was fuming.

This next part is where IG reps really shined. I emailed David, he was the rep who reached out to me when i started the account with IG. Great guy! I emailed him directly and he elevated my concerns. I received a refund for my loss in less than 24 hours.

I highly recommend trading with IG. Just my personal experience alone with the staff and reps is worth gold. Also, develop a relationship with your broker, as you would with a lawyer, realtor, banker, contractor etc. Take part in the webinars, and education material. I hope this review helps.
 

Frequently Asked Questions

Is IG Broker good?

IG is regulated by the US NFA, Australia's ASIC, The UK FCA, and more.

The best way to answer if IG is a good broker is to read the unbiased traders reviews on ForexPeaceArmy: https://www.forexpeacearmy.com/forex-reviews/109/ig-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we recommend that you check recent IG community discussions: https://www.forexpeacearmy.com/community/tags/igcom/

Is IG broker regulated?

IG is registered with multiple regulators around the world, including the NFA in the US, the FSCA in South Africa, the FCA in the UK, ASIC in Australia, and the DBFSA in the United Arab Emirates.

What is IG forex?

IG.com is a forex trading broker, allowing clients to trade and invest in global currency markets 24 hours per day, 5 days per week.

Is IG Forex legit?

IG is regulated in multiple jurisdictions worldwide. It is still a good idea to check the unbiased trader reviews for IG.com at Forex Peace Army: https://www.forexpeacearmy.com/forex-reviews/109/ig-forex-brokers

Service provided by a broker can get better or worse over time, and checking the FPA reviews is a fast way to see how a broker is performing now.

What is the minimum deposit for IG trading?

The minimum deposit for IG is $250 for debit cards. To deposit:

  • go to IG.com and login to MyIG
  • select Live Account tab
  • select Deposit Funds

How long do IG withdrawals take?

  • Bank withdrawals from IG should take about 24 hours or less. International bank wires take longer.
  • IG Withdrawals to credit card should be credited within 2-5 business days.
  • PayPal withdrawals usually only take a few minutes, but can sometimes take up to 24 hours.

How much leverage does IG offer?

IG offers leverage as high as 200:1 for forex pairs.

Please be aware that the leverage may be less depending both on the currency pair and on which of IG's regulators your account is under.

Is IG Academy free?

IG broker offers trading education called IG Academy. Forex trading courses and webinars in IG Academy are free.

What is IG Investment?

IG UK offers the IG Investment type of account.

This account allows dealing in stock shares; choices range from fully self managed to IG managed Smart portfolios.

What is IG spread?

IG broker offers spreads as narrow as 0.8 pips. Spreads will vary based on the currency pair, account type, and market conditions.