IG Review

1.697 · 159 REVIEWS
Updated: Jan 21, 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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1.697 · 159 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Philadelphia, USA,
Jan 18, 2021,
Registered user

!!!DOCUMENT EACH AND EVERY DEPOSIT WITH YOUR BANK STATEMENTS PRINT/PDF!!!

Service use: Live

Length of use: over 1 Year

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.
 
Krivoy Rog, Ukraine,
Jan 15, 2021,
Registered user

Very bad support

Service use: Live

Length of use: Have not used

I opening account and upload all clearly documents for verification, and waiting 17 days for activation. Support don't answer i waiting 17 days for activation, but documents verified. I don't understad why i need waiting for activation?
 
Booklover,
England, United Kingdom,
Dec 1, 2020,
Guest

Very poorly advertised and misleading commission fees.

Service use: Live

Length of use: 0-3 Months

Very poorly advertised and misleading commission fees. I was on the CFD account and an advisor told me it would change from $15 per US share (buying and selling) this month as I made transactions, even after reviewing my account. Another advisor informed me later this was not the case, and I would be charged these high commission fees. Not clearly stated on their website either that it is not applicable for CFD accounts. Very bad and unprofessional advertising.
 
Melbourne, Australia,
Nov 14, 2020,
Registered user

Don't bother

Service use: Live

Length of use: 6-12 Months

My hard earned money that I worked tirelessly for earning a wage just like everyone else was stolen by these thieves who seem to have ties to sovereign hedge funds that run the world. Don't bother about getting your money back. You are their slave and they can get away with stealing your money by changing the Terms and Condition without your consent or permission. Don't expect regulators to come 'save you'. They are fully aware of what's going on but they won't do much about it. It's only a crime if you were to rob a bank but a bank can rob anyone because it's perfectly legal. Their platform is incredibly dodgy and full of exploits and questionable but somehow it's perfectly legal. Not sure the federal police aren't involved in this.
 
Otago, New Zealand,
Oct 19, 2020,
Registered user

This shouldn't be allowed

Service use: Live

Length of use: 3-6 Months

Adjusting your spreads on currency during certain periods so that it causes you to fall below the required available funds should not be allowed . They then margin call you and you loose thousands . This is ridiculous Do not trade with these guys please and tell your friends to stay away from them .

May 12, 2020 - 1 Star Finally figured out what is happening to my money , This platform is not designed for the small investor . The design is geared to take all of your money in commisions . Which is a shame , why cant it be designed as a win win ?

USA shares $15 to buy and also to sell
Uk 10 pounds to buy and to sell
Australian $8 each way

So basically you could buy shares in a USA company and pay 15 to buy then another 15 to sell so that is 30 bucks before you make any profit plus if you carry overnight there will be another fee . So if you start off small choose another broker with lower fees

Apr 21, 2020 - 1 Star Overnight fees for this company will empty your account , None of the reviewing companies made any note of this so it seems they are rigged.
There is a min deposit of $450 which is way too much . Their spreads are different to what any review sight said and their excuse was it was because of market volatility . They shut down your trades at the worst possible moment when you are set to gain which leads me to believe that they are a scam . There were many times when trades were unavailable even when markets were open and there were sufficient funds .
Customer service is rubbish . At no time did they answer any call and only one reply from the many emails I had sent , yet when you are wanting to start up they give you a call straight away .
I am going to find a company with the lowest overnight fees and you should do the same
 
J,
L, USA,
Sep 22, 2020,
Guest

Bad

Service use: Other

Length of use: 0-3 Months

I can not log into my account whatsoever. Customer service dosen't seem to exist either. Just another poopy broker..
 
United States, USA,
Sep 6, 2020,
Registered user

Scammers

Service use: Live

Length of use: over 1 Year

They closed my position without breaking their margin policy!
I will let them pay for it. I am a USA based customer!
 
Nevada, USA,
Sep 2, 2020,
Registered user

Shoddy Broker!

Service use: Live

Length of use: 3-6 Months

Too much slippage. Not EA friendly. Spreads are all over and with a larger account no bennies for trading a larger account or from USA. Simply not impressed with the standards or service. Also no metals trading. Missed the moves on gold! IG = instant gangbang to your account balance like market making. Buyer beware.
  1 trader has found this review helpful
hesse, Germany,
Aug 25, 2020,
Registered user

customer service nearly non-existant

Service use: Other

Length of use: Have not used

I wanted to create a live account with quite a bit of capital - I had some questions and I have only had one email asking me to ring them back. I really wanted someone to answer my questions via email. I have not heard a thing - I think they are not interested in having new customers ! Now, I have read all the comments here I think it is a blessing in disguise.
  1 trader has found this review helpful
Xena,
Germany, Germany,
Aug 7, 2020,
Guest

Ghost Trading

Service use: Live

Length of use: 0-3 Months

Ig Bank Open a Trade in xauusd. I can’t close this trade. I contact the customer service but nothing. The trade is still alive. You can see the open trade only if you choose the direct account of if. You don’t see it in the meta trader. Or you check your paper statement. I think it is not serious. I close the account.
  1 trader has found this review helpful

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.