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This is an article about the IG broker, which will lead you to have a better understating of whether to choose or not of this broker:

IG’s comprehensive trading package includes great trading and research tools, industry-leading education, and a wide choice of tradeable markets. IG is a global, publicly traded multi-asset broker. It is regulated in many countries. Based on our research and experience, we have determined that IG is the best broker in 2022.

Is IG a good broker?

Regarding practically every factor that matters to traders, IG is at or near the top. And when it comes to investing in the financial markets, IG is a step above the competition as an online broker. In addition to a large selection of tradable assets, IG is among the best CFD brokers, with 20,000 CFDs available.

Is my money safe with IG Broker?

If you’re looking for a forex or CFD broker with the most regulatory approvals, go no further than IG. Due to its long history, a great reputation, and regulatory requirements as a public corporation, IG is trusted to hold customer assets, including cash.

As of its latest trading update in early 2021, IG had 191,000 active clients. In addition, IG’s market cap of 3.19 billion pounds (as of May 12, 2021) decreases counterparty risk. And, with a Trust Score of 99 out of 100, IG is a safe investment option.

Investment Offers

Depending on which IG regulatory entity manages your account, the markets you have access to may change.

Those living in the United Kingdom, New Zealand, Japan, or the United States must select their national IG organisation. In addition to its almost 20,000 contracts for (CFDs), IG now provides U.K. citizens access to exchange-traded securities (non-CFDs).

In addition, IG offers exchange-traded Turbo warrants through Spectrum, an MTF in Europe, and listed derivatives through tastytrade in the U.S. Customers that meet the requirements can also work with IG Bank in Switzerland.

Cryptocurrency in IG Broker

IG offers cryptocurrency trading via CFDs but not cryptocurrency trading itself (e.g., buying Bitcoin). Currently, retail investors in the United Kingdom cannot access IG’s cryptocurrency derivatives platform.

Commissions and fees in IG Broker

As a large company, IG can offer its clients scalable execution for any product. IG isn’t a discount broker, but its Forex Direct accounts and ability to execute huge orders stand out. In September 2021, its main account spread averaged 0.828 most of the time (23 hours a day).

CFD account average spreads

Mini and standard-size contract spreads during the main trading session (0000-2200 GMT) averaged 0.768 pips in September 2021, somewhat better than the industry average. However, IG’s spreads during low-liquid times can be larger than typical, averaging 0.994 pips during the same timeframe as the September 2021 data.

CFD account active trader rebates

Discounts are available through IG’s three-tier active-trader rebate program for high-volume traders who meet the criteria for EU rules.

If your monthly forex volume exceeds £50 million, you’ll qualify for the first tier and receive a 10% spread rebate. However, if your monthly trading volume is over £300 million, you could receive a rebate of up to 20%.

From another perspective, a 20% discount from 0.76 pips is 0.17 pips, bringing the total cost down to a very competitive 0.60 pips.

DMA account (Forex Direct)

The DMA account is a better alternative for savvy traders than IG’s active trader rebates on spread-only pricing. To gain access to the L2 Dealer platform, traders can use a DMA account and take advantage of Forex Direct, a commission-based service.

A tier-based pricing structure based on the trader’s previous month’s trading volume is used in the DMA account, which only has a £1,000 minimum requirement.

Execution method

IG works as an agency broker for Forex Direct, which receives its feeds from various interbank liquidity providers. As a result, a commission is added to each trade you place at IG rather than an additional spread.

Mobile trading apps

IG’s mobile app is among the best in the market and has features for both casual and advanced traders. Because of the wide variety of options offered, the charts in IG’s app are my top pick among all brokers.

Apps overview

Besides IG’s own flagship mobile app, IG Trading, the company also provides the widely used MetaTrader 4 (MT4) app for online trading.

In addition, both IG Access and IG Academy are available, but neither can be used to actually trade. Alerts, sentiment readings, and cutting-edge charts are just a few of the many features available in the IG Trading app’s well-organized interface.

Ease of use

IG’s mobile app strikes a good balance between usability and feature set compared to other social media apps. The IG app makes it easy to read news headlines from Reuters, analyse the market, and trade using signals.

However, finding what you’re looking for in IG’s extensive catalogue can be challenging due to the absence of predefined watchlists or screeners.

On the other hand, the charts are excellent on mobile and work in perfect harmony with the web interface. For instance, charts created on the mobile app might be based on web-saved chart templates.

Syncing watchlists are available, although unlike SaxoTraderGO from Saxo Bank, trend lines do not synchronise. Even so, the IG mobile app has many redeeming qualities to offer.

Charting

IG’s mobile app has 30 technical indicators, 20 drawing tools, 16 time periods, and five chart formats, including tick charts. Setting up charts is simple, and navigating between different time frames feels fast and precise.

Unfortunately, there is no automatic sync between the web and mobile apps for chart indicators, although they can be saved as presets. Even so, IG Mobile’s charts were a joy to work with.

Educational videos

A single mobile app called IG Academy is available for anyone interested in instructional content.

Other trading platforms on IG Broker

Traders of all skill levels will appreciate IG’s robust suite of trading platforms and tools.

Platforms overview

IG offers MetaTrader 4, L2 Dealer DMA, and ProRealTime charting software; however, we tested their web platform. IG’s web-based platform is user-friendly and loaded with functionality.

For instance, charts may be accessed from almost any perspective and show streaming bid/ask rates and current market prices.

In addition, research and trading tools, such as integrated risk-management modules, seem to be inexhaustible in number. However, you will need to spend a few minutes customising the layout to your liking, as the default look is somewhat sparse.

Charting

IG’s default charts can add up to four alerts to any of its 11 supported indicators. Not all brokers provide this feature, but there is also a tick chart in addition to the other five chart types.

Changing the time frame you are viewing and zooming in and out seemed instantaneous and effortless.

Speciality platforms

MetaTrader4 (MT4) and L2 Dealer offer Forex Direct and Direct Market Access (DMA) for share trading on IG.

L2 Dealer, which requires a $1,000 minimum deposit, can be a viable choice due to discounts for active traders and complex algorithmic order types.

ProRealTime charts

IG’s third-party platform ProRealTime offers advanced charting with 100 indicators and automated approaches. There is a £30 monthly fee for ProRealTime unless you make at least four trades every calendar month.

Market research on

A wide variety of high-quality market research is available from both IG and external sources.

However, only TD Ameritrade (U.S. residents only) and Interactive Brokers can compete with IG’s platform in terms of the sheer volume of material. Risk/reward ratios are displayed on the chart, and you may place stops and limits with pinpoint accuracy, all without leaving the chart.

Research overview

IG offers trading signals, live in-house streaming on IGTV, an economic calendar, a weekly prediction, and multiple daily blog updates with market analysis. CFDs on global stocks, currencies, and other asset classes are only some advanced instruments available to traders.

In addition, IG’s “Recommended News” section tailors headlines to your account traits. Incorporating DailyFX’s material into IG’s extensive analysis library is like multiplying that work by a factor of two.

Market news and analysis

IG adds Autochartist and PIA First into its platform so traders can observe automated trade signals. With just one click, the trade ticket window can be automatically populated with these cloned trading ideas. In addition, throughout the trading week, IG posts many articles and videos every day.

DailyFX and IG Broker Community

DailyFX is a news website in the style of a blog that IG powers, offering news articles and research tools to IG customers. Over 60,000 people are connected by IG Community, a relatively new social network that functions like an advanced forum. It is excellent that IG selected the top research articles from a crowdsourced database and used them to create a helpful resource. A timeline (like a social network) shows member joins, follows, and thread comments.

Education

IG’s educational content includes videos, written materials, weekly webinars, and DailyFX instructions. IG Academy offers courses for learners of all skill levels, with personalised progress reporting and interactive quizzes.

In addition, IG provides a mobile app for education and a selection of crowd-sourced articles from its 64,000-member social group.’In addition, IG provides a mobile app for education and a selection of crowd-sourced articles from its 64,000-member social group.

Learning centre

Its website, YouTube channel, and DailyFX feature various educational articles and videos. DailyFX’s well-designed course includes eight basic trading instructions, five advanced guides, and written materials. Bollinger Bands has seven risk-management topics, 17 introductory articles, and language support.

 IG Broker Academy

There are eight courses available at IG Academy, each with close to a dozen chapters. Video lectures, lesson summaries, and in-course exams all contribute to the dynamic nature of these courses. An overall grade is assigned based on how many questions were answered correctly in the final quiz.

Videos

IG offers IGTV as well as a variety of older content and playlists on YouTube. IGTV is a fantastic resource for learning, including content like weekly webinars and podcasts.

Live events like the Technical Analysis Masterclass feature IG faculty discussing educational topics. Webinar recordings are also categorised by skill level for easier retrieval.

IG Broker Community

IG’s curation of user-generated content is already mentioned in the previous section dedicated to research. Some of this information is instructive, while other parts are more narrative, with traders discussing their personal perspectives, trading successes, and failures.

Room for improvement

nearly perfect. IG may integrate its IG Academy and IG Trading mobile apps for a more streamlined experience. Adding additional advanced content, both written and video, wouldn’t hurt.

With such a strong market position, IG’s current suite of learning resources is nearly perfect. IG may integrate its IG Academy and IG Trading mobile apps for a more streamlined experience. Adding additional advanced content, both written and video, wouldn’t hurt.

 

What is the minimum deposit for IG trading?

IG’s minimum deposit goes from $250 or 300 euros (EUR) to 2,500 Swiss francs (CHF), depending on the IG company and your place of origin. I,g IG South Africa clients must deposit 4,000 ZAR, while IG Japan requires 35,000 yen (JPY).

IG’s minimum deposit varies per organization and place of origin from $250 to 2,500 Swiss francs. IG is one of the best forex brokers that accepts PayPal deposits and withdrawals. PayPal accepts a large number of international currencies and operates in several different countries.

Some of the positive and negative points

 Positive

  •  IG was established in 1974. And it is a low-risk broker for trading FX and CFDs due to its public listing and regulation in six tier-1 jurisdictions.
  • Our 2022 Review rated IG asbe the most reliable broker for FX and CFDs.
  • In our 2022 ranking, IG came out on top as the best forex broker overall.
  • IG also ranked second for Platforms and Tools and first for Research.
  • Listed derivatives (i.e. futures) and options trading were available to IG’s American customers after the company spent $1 billion to acquire tastytrade.
  • IG offers Smart Portfolios, share-dealing, options and futures trading in the U.S. and Europe, forex, CFD trading, and Spread Betting for U.K. clients.

 Negative

  • In spite of IG’s amazing web platform’s leading-edge features, some manual configuration is required due to the lack of predefined layouts.
  • There are still just 76 tradeable instruments available in IG’s MetaTrader offering, even with expensive MT4 add-ons like FX Blue and Autochartist integration.

Source:

https://www.investopedia.com/

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