A Global Leader in Online Trading
Established in 1974, IG is a global leader in the online trading industry and the world’s No. 1 CFD and spread betting provider. As a publicly traded company on the London Stock Exchange and a constituent of the FTSE 250 Index, IG offers a high degree of financial stability and transparency. The platform provides UK clients access to an extensive range of over 17,000 financial markets, catering to the needs of both beginner and experienced traders with a suite of powerful platforms and comprehensive educational resources.
Expert Reviewer Verdict
In the competitive landscape of online brokers, IG distinguishes itself through its sheer market depth, top-tier regulatory framework, and outstanding trading technology. Its user-friendly proprietary platform and extensive range of tradable instruments, including tax-efficient spread betting and ISAs for UK residents, make it a compelling choice for traders of all skill levels. Backed by decades of experience and robust FCA regulation, clients can trade with a high level of confidence. IG’s commitment to quality education, powerful tools, and client fund security makes it a premier choice in the industry.
Pros and Cons
Pros
- Extensive Range of Markets
- Excellent Trading Platforms
- Strongly Regulated by the FCA
- Industry-Leading Education
- 24-hour Trading on Major Indices & Commodities
Cons
- Custody Fee for Infrequent Investors
- No Crypto Derivatives for Retail Clients
Trust and Safety
Securing the Financial Battleground
IG is a trade name of IG Group Holdings plc, a company founded in 1974 and headquartered in London. The group’s UK operations are conducted through IG Markets Limited and IG Index Limited, which are authorised and regulated by the UK’s Financial Conduct Authority (FCA).
Fraud Prevention: IG employs a robust security framework to protect client data and funds. This includes 256-bit SSL encryption on all platforms and a comprehensive cybersecurity program to defend against online threats.
Client’s Fund Security: As an FCA-regulated firm, IG adheres to strict client money rules (CASS), holding client funds in segregated trust accounts at reputable banks like Barclays and Lloyds. This ring-fences client money, protecting it from creditors in the unlikely event of IG’s insolvency. Eligible clients are also protected by the Financial Services Compensation Scheme (FSCS), which can compensate for shortfalls up to £85,000.
Tradable Instruments
Navigating through a Diverse Investment Horizon
IG offers an extensive selection of over 17,000 tradable instruments, providing UK traders with unparalleled access to global markets.
- Spread Betting & CFDs: Take a position on thousands of markets including forex, indices, shares, and commodities. Spread betting profits are tax-free in the UK.
- Share Dealing: Invest directly in over 11,000 global shares and ETFs with zero commission on UK and US shares.
- Tax-Efficient Accounts: Utilise your annual allowance with a Stocks and Shares ISA or plan for retirement with a SIPP. IG offers a Flexible ISA, which provides a key benefit over standard ISAs by allowing you to withdraw funds and replace them within the same tax year without impacting your annual allowance.
- Cryptocurrencies: Please note, due to FCA regulations, trading in crypto derivatives is not available to UK retail clients.
|
Trading Instrument |
Available |
|
COMMODITIES |
Yes |
|
FOREX |
Yes |
|
CRYPTOCURRENCIES |
No (for retail derivative trading) |
|
ETF |
Yes |
|
FUTURES |
Yes |
|
INDICES |
Yes |
|
STOCKS |
Yes |
|
BONDS |
Yes |
|
OPTIONS |
Yes |
Account Types
Harmonizing Versatility and User-Centricity
IG provides a variety of account types to suit different trading and investment styles in the UK. These range from leveraged trading accounts to long-term, tax-efficient investment vehicles. A free demo account is available for practice, and all retail accounts benefit from segregated fund protection.
Account Type | Available |
DEMO ACCOUNT | Yes |
ISLAMIC ACCOUNT | No |
SEGREGATED ACCOUNT | Yes |
MANAGED ACCOUNT | Yes (IG Smart Portfolios) |
SUITABLE FOR BEGINNERS | Yes |
SUITABLE FOR PROFESSIONALS | Yes |
US TRADER | No |
Commission and Fees
An Equitable Fee Structure
IG maintains a transparent fee structure, which is highly competitive for active traders and investors.
Account Minimum
There is a £0 minimum deposit for bank transfers. Card payments have a practical minimum of £1.
Trading Fees Spread Betting
This is a popular option in the UK as profits are free from capital gains tax. Costs are built into the spread.
CFD Fees
Costs are via the spread for most markets. Share CFDs are charged a commission (e.g., 0.10% for UK shares, min £10).
Share Dealing & ISA/SIPP Fees Commission
£0 commission on UK, EU, AUS and US shares.
Custody Fee
A £24 quarterly custody fee applies, but it is waived if you trade three or more times in the quarter.
FX Conversion Fee
A 0.7% fee applies when trading international shares in a different currency from your account’s base currency on the investment platform.
Deposit & Withdrawal Fees
IG charges no fees for deposits or withdrawals. Third-party charges from card processors may apply.
Trading Platforms
Seamless, User-Friendly, and Technically Advanced
IG offers a suite of powerful and award-winning trading platforms, including its proprietary web-based platform, MetaTrader 4 (MT4), ProRealTime, L2 Dealer for Direct Market Access, and TradingView integration. These platforms provide advanced charting tools, algorithmic trading capabilities, and a seamless user experience.
Mobile Trading Apps
The native mobile trading apps for Android and iOS offer a complete trading experience on the go. With full functionality, from interactive charting to secure trade execution, traders can access the markets anytime, anywhere.
Web Trading Apps
IG’s browser-based platform provides instant access to accounts without any downloads. It is built on HTML5 for speed and stability and maintains the high standard of user experience found on its desktop counterparts.
Desktop Trading Apps
For traders who prefer a dedicated desktop experience, IG supports both Windows and Mac users through powerful applications like MT4, ProRealTime, and the specialist L2 Dealer platform.
|
Trading Platform |
Available |
|
MT4 |
Yes |
|
MT5 |
No |
|
CTRADER |
No |
|
PROPRIETARY |
Yes |
|
Desktop and Web Platform |
Available |
|
DESKTOP WINDOWS |
Yes |
|
DESKTOP MAC |
Yes |
|
WEB PLATFORM |
Yes |
|
Mobile Platform |
Available |
|
ANDROID |
Yes |
|
iOS |
Yes |
Unique Features
Enhancing Trading with Valuable Insights
IG’s platform enriches the trading experience with several unique features designed to provide an analytical edge.
Tax-Free Spread Betting: For UK clients, a key feature is spread betting, where any profits are exempt from UK capital gains tax.
Weekend Trading: IG offers the rare ability to trade select major indices (like the FTSE 100 and Wall Street), major FX pairs, and key commodities like crude oil over the weekend, allowing traders to react to news or hedge positions when most markets are closed.
Guaranteed Stop-Loss Orders (GSLOs): This powerful risk management tool provides absolute protection against market gapping and slippage, ensuring a position is closed at the exact specified price for a small premium if the stop is triggered.
Research and Education
Evolving Educational Resources
IG places a strong emphasis on empowering traders through its industry-leading research and education offerings.
Learning Center Overview: The core of IG’s educational suite is the IG Academy, a free online portal featuring a wealth of resources, including step-by-step courses, live webinars, and in-depth guides for traders of all levels.
Educational Content Comparison: IG’s content is comprehensive, covering everything from foundational topics for beginners to advanced market analysis techniques and strategies for experienced traders.
Progress in Education: IG continually enriches its educational portfolio, with a focus on interactive modules and live webinars that reflect a commitment to versatile and effective learning.
Content Sources: Content is curated by a team of in-house experts and analysts from IG and its wholly-owned research portal, DailyFX, ensuring relevance and quality.
Video Focus: Video content is a key strength, with the IG Live TV channel providing daily market analysis and trade ideas directly within the platform, complementing an extensive library of video tutorials.
Customer Support
Accessible and Comprehensive Assistance
IG excels in customer support, providing accessible assistance through multiple channels including live chat, email, and phone. Support is available 24 hours a day, with a short break from 10 pm Friday to 8 am Saturday (UK time). The website also features a detailed FAQ section and an active client community forum for peer-to-peer support.
Account Opening
Seamless and Expedient Account Onboarding
IG has streamlined its account opening process to be fast, digital, and compliant with FCA standards.
Registration: The process begins with a simple online form on the IG website, collecting basic personal and contact information.
Verification: Following registration, traders complete an appropriateness assessment to ensure leveraged products are suitable for them. Identity is then verified, often instantly through electronic checks.
Document Submission: If manual verification is needed, traders are required to submit standard identification documents (e.g., passport and a recent utility bill) to validate their identity and address.
Generally, new traders can expect their account to be operational swiftly, often within one day.
Deposit and Withdrawals
Hassle-Free and Efficient Transactions
IG offers convenient and efficient deposit and withdrawal options for UK clients.
Deposits: Traders can fund their accounts using credit/debit cards and bank transfers. Card deposits are typically instant, while bank transfers may take up to 3 business days. IG does not charge deposit fees, though third-party processors might.
Withdrawals: Withdrawals are processed back to the original funding source. Faster Payments for bank transfers over £100 should arrive the same day, while card refunds can take up to 5 working days. IG does not charge withdrawal fees.
Final Thoughts
IG offers a comprehensive and highly reputable trading and investment platform that stands out for its vast market access, robust regulatory oversight, and superior technology. It successfully caters to both novice and expert traders in the UK with its extensive educational resources, tax-efficient account options, and advanced platform features. While its custody fee for inactive investors is a point to consider, the broker’s transparency and commitment to client success are evident. For UK traders and investors who prioritize security, a wide range of products, and powerful tools, IG remains a top-tier choice.
Contact Info
Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA, United Kingdom
FAQs
-
Question: What trading platforms does IG offer in the UK?
Answer: IG offers its award-winning proprietary web and mobile platforms, alongside support for MetaTrader 4 (MT4), ProRealTime, L2 Dealer for direct market access, and TradingView. -
Question: Is spread betting with IG tax-free in the UK?
Answer: Yes, for UK residents, profits from spread betting are currently exempt from UK Capital Gains Tax and Stamp Duty. Tax laws are subject to change and depend on individual circumstances. -
Question: How can I deposit funds into my IG UK account?
Answer: You can deposit funds into an IG account using credit/debit cards and bank transfers. Card payments are instant, while bank transfers can take up to three working days. -
Question: What is the minimum deposit required to open an account with IG in the UK?
Answer: There is no minimum deposit for bank transfers. For card payments, the minimum is £1.
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