IG Review
Is IG one of the best Australian Forex Brokers? We conducted an in-depth review to find out the answer and bring it to you! Recently has been included by Engine Forex among the NFA Regulated Brokers.
Established back in 1974 as the first financial spread betting company, IG is part of the IG Group Holdings Plc., a member of the FTSE 250 that has a market capitalisation of £2.9 billion as at 31 May 2016. In 2002, IG Markets Australia Plc. became the country’s first CFD provider.
Having accumulated over 40 years of experience, IG is now one the world’s most recognised online brokers, with offices in 15 countries around the globe. It holds a market-leading position in many countries, including Australia, the UK, Singapore and France, executing well above 7 million deals per month!
- Trading Platform: MetaTrader, cTrader
- Head Office: Sydney
- Founded: 2007
- Reviews: 9.1 – 408 Reviews Trust Pilot
- Leverage: 200:1
- Execution Servers: NY4 & LD5
- Broker Type: ECN Forex Broker
- Negative Protection: No
- Trading Options: CFDs, Crypto, Stocks
Our Rating: 7.5
Trading Conditions
| Max Leverage: | 200:1 |
| Platform: |  L2 (own proprietary) |
| Min Deposit: | $0 |
| Spread: | From 0.6 Pips |
| Cuts out Dealing Desk: | Yes |
Methods of deposit and offers
| Deposit / Withdraw: |     |
| Welcome offer: | n/a |
| Rebates Engine Forex: | Coming soon! |
SECURITY AT IG
As a global market leader, IG takes security very seriously. Authorised and regulated by the Australian Securities and Investment Commission (ASIC), it ensures that all client money is held safely in a segregated bank account and is never used for hedging or any other operational purposes.
All of IG’s trading platforms use high-level web security and 256-bit SSL encryption, thereby mirroring the industry standard for online financial transactions.
In addition, IG provides a good selection of risk management tools that can help traders to better control their trading strategies, protect profits and limit losses. These tools not only allow traders to monitor and track profits and losses using various apps, they also allow for setting specific and free-of-charge price alerts to notify individual traders of market movements, and allow you to place guaranteed stops with no upfront charges or lock in potential profits with trailing stops.
Clients who are new to IG can also trade at minimum trade sizes for two weeks and take advantage of reduced commissions on Australian shares for six weeks.
As a global market leader, IG takes security very seriously. Authorised and regulated by the Australian Securities and Investment Commission (ASIC), it ensures that all client money is held safely in a segregated bank account and is never used for hedging or any other operational purposes.
Spreads Comparison
CHARGES AND MARGINS AT IG
As is the case with all brokers, clients pay a spread on every non-equity CFD and commission on every equity CFD trade.
IG offers low spreads, starting from 0.6 on Forex pairs with a 0.5% margin requirement.
Equity CFDs are traded at the real market price, and IG takes a small commission per side starting from 0.10% for regions such as Australia, Euro, the UK, Switzerland and Singapore, for example. Minimum charges for both online or phone orders start from $8 in Australia.
IG offers cash and futures CFDs on a very wide range of global stock indices. With more 24-hour markets on offer than any other online broker, spreads on indices CFD start from 0.1 points with a margin per contract of 0.5% on Australia 200, Wall Street and FTSE 100, as examples.
Commodity CFD spreads start at 0.3 points with a minimum margin requirement per contract of 1.0% on oil (Brent Crude or US Crude) or 2.5% on heating oil, as examples.
TECHNOLOGY
Having offered their first online trading service back in 1998, product and technological innovation have been key elements of IG’s successful development. As pioneers of online trading of financial derivatives, IG’s businesses have repeatedly broken new ground, helping the IG Group as a whole to become a highly successful company across the globe.
IG offers fast, reliable execution and its systems have been specifically built to cope with a large number of trades at any given time. All trading platforms are also able to handle high volumes of traffic.
Offering multiple award-winning, browser-based trading platforms and a suite of mobile apps, IG enables clients to quickly and securely execute trades wherever they are located. Those trading platforms further offer a vast range of cutting-edge trading tools and technology such as a unique tool called Price Improvement, which offers clients the best price in volatile markets. The deal-through charts tool offers advanced, real-time charts that allow clients to trade directly from the chart.
Other great technologies and tools that are available from IG are further client activity and sentiment indicators, mobile price alerts, price improvement technology, trading signals, improved auto-filling of stop and limit orders, interactive mobile charts, web API for clients to automate their trades, technical analysis alerts, market screener, iOS 7 iPhone and iPad apps as well as an Android tablet to accompany their Android phone app.
Offering multiple award-winning, browser-based trading platforms and a suite of mobile apps, IG enables clients to quickly and securely execute trades wherever they are located.
Execution of Speed Comparison
AN OVERVIEW OF IG's CUSTOMER SERVICE AND CLIENTS
With more than 185,000 clients worldwide, IG has one of the largest client bases in the world of online trading. With a global team of over 1600 highly trained staff, IG ensures a high level of customer satisfaction with an above-standard seven-day customer service agent availability.
For the more serious clientele, IG also offers a special VIP-like treatment to their premium clients. Once a client becomes a premium client, they have access to IG’s Premium Client Managers and the market analysts from its research team.
15,000+ markets provide opportunities to deal 24 hours a day. Popular indices, including FTSE 100 and Wall Street, are available even when the underlying index is closed. This means that traders can deal over 8000 shares from the world’s leading stock exchanges at any time on any day. Major, minor and exotic Forex pairs are also ready to trade at all times.
As a great benefit to all traders, IG guarantees that they will never fill a client’s trade at a level worse than the one the client originally requested, and if the market moves against the client when they execute the trade, IG will prompt the trader to resubmit the order rather than automatically filling it at a price the client doesn’t want.
FOREX AND OTHER TRADING OPTIONS AT PEPPERSTONE
Pepperstone offers 50+ currency pairs, 5 cryptocurrencies (Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash), metals and 13 index CFDs in addition to energies and soft commodities.
Pepperstone offers ultra-low spreads, starting from 0.0 during liquid times on the EUR/USD. Typical spreads on Forex pairs start at 0.1 pips for the Razor account.
With up to 500:1 leverage, clients can get started with minimum deposits of $200.
Trading options on indices include Australia 200, Wall Street, FTSE 100, Germany 30 and many more.
Pepperstone clients can utilise a good variety of commodities, from gold, silver and oil, to other commodities, such as coffee, sugar or cotton.
Over 80 asset classes from around the globe can be accessed.
It should be specifically noted that trading CFDs poses a high risk as they are complex instruments.
FOREX AND OTHER TRADING OPTIONS AT IG
Spread sizes on Forex start from 0.6 pips on EUR/USD and AUD/USD, and traders can choose from more than 90 currency pairs. Indices start from 0.4 points. IG offers a competitive 200:1 leverage and their clients can start trading with deposits as low as $100.
As the world’s and Australia’s No.1 CFD provider, clients can choose from a huge variety of more than 15,000 markets, Forex, global indices, shares, commodities and much more.
Trading options on indices include the Australia 200, Wall Street, FTSE 100, Germany 30 and many more.
In addition to being able to utilise an extensive amount of commodities of various types, from gold, silver, oil to dozens of more commodity markets, IG’s clients can also trade interest rates, bonds, ETPs, sectors, etc.
Competitive rates are offered on over 7500 shares and traders can utilise a massive range of digital 100 binary types, timescales and markets, from the original provider. Clients can, for example, trade on Australian shares with commissions of just $8.
SPECIAL FEATURES OF IG
Apart from offering over 40 years of experience in the industry, many ultra-convenient trading tools and vast trading opportunities, IG’s great customer service presence and customer satisfaction focus entail that clients of this well-established brand can benefit from some very unique features and benefits.
As an example, IG account holders can take advantage of stops, limits and alerts and even have the opportunity to deal on Bitcoin prices without having to buy or store actual Bitcoins.
There is also a competitive volume rebate scheme on offer to the more serious high-volume traders.
New clients can benefit from reduced risk exposure while gaining experience and confidence using IG’s platforms and tools. An interesting CFD introduction programme is available with lower minimum trading sizes for two weeks and reduced commissions on Australian shares for the first six weeks.
All new clients also receive a free educational guide that is designed to teach basic principles of CFD trading, financial market environments, leverage and margin as well as helping traders to master the psychology and attitude required to remain disciplined and manage risks. Free platform tours are also available when a new account is opened.
IG further offers essential and pro charts for Desktop and Mobile Apps and full market transparency with Forex Direct (DMA).
New clients can benefit from reduced risk exposure while gaining experience and confidence using IG’s platforms and tools. An interesting CFD introduction programme is available with lower minimum trading sizes for two weeks and reduced commissions on Australian shares for the first six weeks.
Max Leverage Comparison
OUR CONCLUSION
IG has a long-standing history of over 40 years in the trading industry and is a globally renowned and well respected broker. Clients enjoy a wide range of tradable instruments in over 15,000 markets. Their own proprietary platform L2 is a cutting-edge platform with unique features. It is suitable for both beginners and professional traders.