If you choose to use guaranteed stops (which ensure you can’t lose more on a trade than the amount set) then spreads will widen slightly. A glance at the table below indicates that spreads on most currency pairs are slightly above average. The Forex direct account is also termed an ECN forex broker, as traders have direct market access with raw costs.
Feel secure with a trusted provider
It has sales offices in multiple countries, including Australia, the United Kingdom, members of the European Union, Switzerland, South Africa, Singapore, New Zealand, Dubai, Japan, the US, and more. The firm’s stock is listed on the London Stock Exchange and is a component of the FTSE 250 Index, with a £3.97bn market cap as of May, 31, 2025. Yes, IG uses a market maker model but has direct market access (DMA) via L2 Dealer when trading forex and shares. Unlike ECN Brokers brokers, market maker brokers ensure that your orders will always get filled without any requotes. However, traders need to keep in mind that IG is the single counterparty to your trades. Numerous free tools and features are available with the core platform once you become an IG client, including streaming of Reuters news which is fully integrated with no delays.
Spread betting vs CFDs
Perhaps most interesting is the If/Then order, which allows users to establish paired stop and limit orders. This allows you to build a sort of mini-algorithm for your own trading, albeit one with just two commands. In the fast-moving world of foreign currencies, that has enormous value. Our research confirms that IG is highly trusted, backed by its public listing and authorisation by eight Tier-1 regulators, including ASIC, MiFID, and the FCA.
Industry awards
Another highlight is TradingView’s integrated strategy tester, which features backtesting and a breakdown of a strategy’s performance. Last but not least, TradingView can be downloaded on both Mac and Windows machines. IG will not charge any deposit fees, just like most online brokerage firms. The Bermuda Monetary Authority, which regulates IG International Limited, requires the firms they supervise to hold client funds in accounts separate from their own. This means that the broker is not allowed to use clients’ funds in their business activities and that client money is completely ring-fenced and protected in the unlikely event that IG becomes insolvent.
Choose your currency trading platform
- When you spread bet and trade CFDs you do so with leverage – meaning you can win, or lose, a significant amount more than your initial deposit – called your margin.
- 1 #1 Overall Broker, #1 Mobile App, #1 Trust Score, #1 Education, #1 Web Platform are accolades presented to IG, parent company of tastyfx, on January 28, 2025, during the ForexBrokers.com 2025 Annual Awards.
- IG’s mobile app, IG Trading, competes with the best in the industry and won our 2025 Annual Award for #1 Mobile App.
You can make money from forex trading by correctly predicting a currency pair’s price movements and opening a position that stands to profit. For example, if you think that a pair will decline in value, you could go short and profit from a market falling. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
The IG share trading and CMC Markets are presently the larger retail foreign exchange brokers offering these range-of-markets which has led to their popularity over the past decade. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. Originally, IG Index was launched to give retail clients the ability to speculate on gold prices through spread betting — a product the company is widely credited with inventing. IG also became one of the first brokers (if not the very first) to offer Contracts for Difference (CFDs) in the early 1990s, further opening access to global markets for individual traders. While the name IG originally stood for “Investors Gold,” the company has come a long way since then and now offers access to over 17,000 markets across forex, indices, shares, commodities, and more.
- When the price of a pair is rising, it means that the base is strengthening against the quote and when it’s falling, the base is weakening against the quote.
- As a result, each currency pair has its forex swap charge, and interest is paid on currency sold and received on currency bought.
- An IG share trading account has some limitations on stock exchanges such as Germany and Ireland, where only large companies can be traded.
- With these US regulations, IG can offer its forex trading services to US clients.
- Currencies are traded in lots, which are batches of currency used to standardise forex trades.
- Why open a trading account with anyone but the best spread betting provider?
By eliminating deposit and withdrawal charges and minimizing trading commissions, IG ensures an affordable experience for those trading forex, stocks, indices, or commodities. Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
Additionally, trading CFDs on IG.com come with extra peace of mind as IG broker also abides by the leading principles of the FX Global Code of Conduct. The online brokers that have signed the FX code created by the Bank of International Settlements (BIS) are required to offer a fair trading environment. For those that prefer to use more popular platforms compared to IG’s platform, three of the most popular options are available for forex trading. The absence of trading Apps is the only major disadvantage that comes with IG’s specialist platforms. The platform is also complemented by an excellent suite of research tools and interactive charts equipped with a full range of technical indicators. Available to IG’s Dubai clients, this account is designed for Muslim traders as it has no swap fees or rolling fees.
Their web platform lets you build a customized trading space in the same way as most desktop platforms, laying out windows and information screens to meet your specific trading patterns. Positions held overnight will be charged a margin fee to cover the costs involved with holding this position open. If you have not traded in 24 months, IG begins charging a monthly inactivity fee of $12. Depending on which currencies you are trading, conversion fees may apply and IG typically charges 0.5% for this. IG is part of IG Group, which has worked in the forex markets since 1974. This is worth calling out at the top of this article, because forex can be a difficult marketplace.
Other Markets
This dedication to regulatory compliance makes IG one of the most regulated brokers in the world. IG provides an outstanding selection of trading platforms and tools, with functionality that serves traders of all experience levels. IG’s mobile app, IG Trading, competes with the best in the industry and won our 2025 Annual Award for #1 Mobile App. It comes packed with plenty of features that will satisfy both casual and advanced traders. The charts in IG’s app are my favorite from among all brokers, due to the extensive range of available features. You can trade forex with IG in two ways – by spread betting on the direction of your pair’s price, or by opening a contract for difference (CFD) position.
While the account creation is swift (can be completed within 5 minutes), it may take up to 24 hours to verify your trading account. Upon verification completion, you will have to fund your account via any of the available payment methods before you can start trading. Brokerage will depend on if you are trading CFDs or Stocks along with the stock exchange traded as shown in the table below.
Desktop Trading Platforms
As the world’s most-traded financial market, foreign exchange presents a wealth of opportunities for those who can harness its inherent volatility. Open a forex trading account and use our award-winning platforms1 to take advantage of movements in currency prices. From a trading perspective IG offers all of the basics that an investor could want. Looking up currency pairs is a snap, as is pulling up the detailed information about any given position. Within each currency pair window, it’s easy to buy and sell assets and set up more complex orders. Although the system does not support some of the truly sophisticated positions that you will find in more robust trading platforms, IG does offer basic conditional trading instructions.
Forex trading, also known as foreign exchange or FX trading, is the conversion of one currency into another. FX is one of the most actively traded markets in the world, with individuals, companies and banks carrying out around $6.6 trillion worth of forex transactions every single day. Major currency pairs are those that trade in the highest volume on ig group review a daily basis. These pairs are incredibly liquid and trade 24 hours a day, usually with very narrow spreads. However, for a platform that offers dedicated forex trading, IG should offer more than the standard set of assets.
He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. IG offers excellent mobile trading applications, highly rated for functionality and user experience. At IG, the markets for Bitcoin, Bitcoin Cash, Ether, and Litecoin are quoted against the US dollar.
