IG is a brand name of IG Markets Ltd that is one of the first brokers offering a platform for online trading. The UK broker is regulated by financial authorities in numerous countries.
The company claims to have more than 150,000 active clients worldwide.
This broker offers more than 10,000 trading instruments distributed into currency pairs including majors, exotic and emerging market ones plus Bitcoin, shares of over 7,500 companies, world’s major stock indices, commodities, bonds and ETFs.
Traders can use several different platforms – from well-known MetaTrader 4 (MT4) to IG’s own developed ones. They are both web-based and mobile applications for iPhone and Android devices.
The properties of IG’s MT4 include 0.7 pips average spread of EUR/USD, ultra-fast deals execution, free use of expert advisors when the platform is offline (for accounts with balances below GBP5,000 there is a monthly fee of GBP50), free autochartist (a tool that automatically recognizes the market’s pattern), automated alerts and plenty of technical indicators. There are 18 add-ons available for download on the IG’s website.
IG’s own web-based platforms offers customizable layout, advanced carts, 1-click trading, deal directly from charts, price and indicator alerts. Although platforms offer many opportunities for trade, they could be difficult to use for beginners. On the other hand, there is no minimum deposit and newbies would appreciate it.
The maximum leverage is 1:200 applicable in some major currency pairs and this could increase the risk of loss. Although IG closes all open positions,m if a margin call occurs, there is no negative balance protection so clients could owe money to the broker. A margin call happens when the equity falls below 50% of the necessary margin.
Clients should know there is slippage and the basic stop loss orders could be executed at a worse than expected price. However, IG provides guaranteed stops that put an absolute limit on the potential loss but the customer pays a fee if the guaranteed stop is executed.