Our Review of IG
IG Index (IG Markets Group)
IG Index is part of the IG Group Holdings Plc, a UK financial derivatives trade exchange offering contracts for difference (CFD) and spread betting services to retail brokers. Responsible for generating a global net trading revenue of £361.9 million in 2013, the company has trading advisory offices in 16 countries.
With 140,000 active clients globally, IG Group has been a leader in financial spread betting since 1974. Listed on the London Stock Exchange (LSE), IG Group UK is listed on the FTSE 250 Index with a £2.1 billion market cap. IG has operations through its IG Index and IG Markets services in Amsterdam, Beijing, Chicago, Dublin, Düsseldorf, Johannesburg, London, Luxembourg, Madrid, Melbourne, Milan, Oslo, Paris, Tokyo, Singapore, and Stockholm.
IG Index subscribers have access to over 10,000 international markets, IG Index is a reliable trading platform offering some of the lowest margins, and competitive rates in the sector. Account holders have access to expert analysis and insights, as well as skills training and continuous financial trading advisory and help desk assistance.
Traders have access to thousands of contracts to choose from binaries, commodities, Indices, IPOs, Options, and Sprint markets. Consistent stability and better prices on IG Index offer traders a competitive edge on any trade. Fixed-expiry stock indices and commodities futures contracts are available on IG Index. Forward spread betting is offered on fixed-expiry shares and Forex currency trading.
IG Index premium account services include:
• Direct Market Access (DMA) technology for pricing on Forex and shares.
• Guaranteed stops to control for hidden exposure in underlying transaction value.
• Low inactivity fee of £12 fee the 1st of each month, post an extended period of 2+ years of no trading activity on an account.
• Live exchange prices on CFDs
• Advanced real-time charts at a cost of £30 a month, or free with four or more deals in the same period.
• Currency conversion on CFDs so that foreign-currency profits are converted to the base currency and funding of the account.
IG Index account holders are supported by the most in execution and pricing technology that gives traders an edge. IG Index contracts are subject to Real-time market and indices price. Daily funded bets and CFDs charge 2.5% above the interbank rate (i.e. LIBOR). Short positions are 2.5% on top of the interbank rate. Interest adjustment on short positions can be made to a credit or debit card. When the interbank rate exceeds or drops below 2.5% a credit or debit is made to an account.
Commissions & Spreads
Traders pay a spread on spread bet or non-share CFDs. Commissions are accrued on each share CFD trade.
The Group’s MetaTrader 4, DMA trading platform and L2 dealer software are compatible for integration to localized APIs and terminals via the web-based exchange portal.
Online dealing platforms
The IG virtual exchange platform is web-based and mobile app accessible. The browser-based direct market access (DMA) IG trading can also be accessed from Android, iOS iPad and iPhone, as well as Windows mobile apps and tablets. The company’s award winning exchange platform offers Pro Real-Time charts.
Deposits & Withdrawals
IG Index account deposits can be made by major credit card, debit card, or bank transfer from the ‘My Account’ platform dashboard. Withdrawals are the full amount of earnings on a trade. Commission and dividend charges are taken into account prior to credit. IG Index account subscribers have the option of daily, weekly or monthly conversion settings for transfer of funds to a foreign, base currency at a standard charge of 0.3%. Client funds are segregated and secured.
IG Group customer support is offered via the ‘My Queries’ section on the Help and Support page of the company website, and directly from an account.
Regulators & Safety
IG Group, IG Index, and IG Markets are regulated by the United Kingdom’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) in Australia, as well as the Monetary Authority of Singapore (MAS).
On IG Index traders benefit from using leverage to take advantage of exposure on commodities, ETPs, Forex, Indices, and shares markets. Leverage frees up capital so as to commit funds to other investments.