IG Review

IG was established in 1974 and offers its customers the ability to trade on 19 different international exchanges and over 17,000 markets worldwide. Additionally, IG allows customers to trade in a variety of asset classes with relatively low cost commissions. The platform promotes usage by offering free trades on U.S shares if customers placed over three shares in the preceding month. It falls under the regulation of a number of different authorities around the world - most notably the FCA in Britain and BaFin in Germany. It is also listed on the London Stock Exchange as IG Group. 

While trading CFDs is a complicated task due to the complexity of the underlying financial instruments, the company has a robust online library providing comprehensive and well thought out guides as well as interesting research and analysis. ‍

“Provides access to over 17,000 markets around the world”

IG’s online trading platform is its stand out feature. It is a highly competent piece of software that allows users to make trades quickly and easily. Additionally, it has a wealth of useful features with its charting capabilities of particular note. Overall, it is easy to use and can be accessed on either a desktop computer, through the web or on a mobile app. At the beginning of 2020 it was upgraded, and what has been designed and rolled out is an intuitive trading platform that allows users to leverage the technology at hand to help make better informed trades.

Opening an account from start to finish takes around 1-3 days with IG. However, the initial effort required from potential customers is minimal. All of it can be done online and there is no minimum deposit amount for a bank transfer. For those that wish to open an account with a credit card or PayPal account, a $300/£250 amount is required. 

In all, the whole process is straightforward and easy to do. It is verifying the account that is the time consuming part for users, while applying for the account should only take around 10 to 15 minutes. Customers need to be able to provide a government issued ID and will also need to give a utility bill or a bank statement to allow IG to verify their address.

Customer service is perhaps where IG falls down a little in its offering to users. Unlike some of its competitors, IG does not provide 24/7 365 customer service. However, it is not far off and the only time customers cannot access the phone or email support is from 10pm on a Friday and 8am on a Saturday. Customers can request support in a number of different channels. IG have set up support on the phone, through email or over live chat on a computer. Sadly, the latter is often offline so is not always available. Phone and email support can be slow. However, ultimately, when answers are given, they are accurate and pertinent.

IG is an excellent operation and a fantastic option for those that want to trade CFDs. While CFDs themselves can be a complex instrument that require expert knowledge in the field, IG’s online platform allows straightforward and easy access to the markets for its customers. With its market leading online software and competitive fees, it is hard to beat if CFDs are the investment class you trade in.