ForexDominance - Forex & Crypto Trading Reviews
IG Review IG Review
IG Review

IG Markets USA

Our IG review aims to assess several key areas that we deem important to the aspiring trader looking for the best forex brokers 2021 with whom to trade with.

What is IG Markets?

Established in 1974, IG is one of the original movers and shakers in the trading industry, especially relating to Contract for Difference (CFDs) and spread-betting. Servicing more than 140,000 clients, IG is renowned for its innovation and the significant product offerings that they provide to their clientele. Supporting the use of over 10,000 market instruments, and with over 40 years’ experience in financial trading, it is little wonder why so many choose IG as their forex broker of choice.

While the UK based company has expanded their activities to many regions around the globe, unfortunately IG currently does not provide services to the USA. This is, in large part, because the main financial regulator in the USA, the SEC, does not allow CFD trading instruments to be made available to traders in this region.


While the UK based company has expanded their activities to many regions around the globe, unfortunately, IG currently does not provide services to the USA. This is, in large part, because the main financial regulator in the USA, the SEC, does not allow CFD trading instruments to be made available to traders in this region.

Regulatory Agencies

The IG Group is regulated in several jurisdictions around the world by many different regulatory agencies. The main regulator that oversees the company’s activities is the Financial Conduct Authority (FCA) under registration number 114059. Other regulatory agencies providing oversight on IG’s operational practices are:

  • The Australian Securities and Investments Commission (ASIC)
  • The Financial Service Providers Register (FSPR)
  • The Monetary Authority of Singapore (MAS)
  • FINMA in Switzerland
  • The Japanese Financial Services Authority (FSA)
  • South Africa’s Financial Services Board (FSB)
  • The Dubai Financial Services Authority (DFSA)

Reliability and Security

Our IG Markets broker review identified that, with over 40 years of experience in the trading industry, there is very little reason to doubt the credibility and reliability of this forex brokerage. With much experience, and with oversight provided by the most recognized regulatory agencies in the world, there is little doubt you’re dealing with a credible broker.

IG’s UK based clients are protected by the Financial Services Compensation Scheme (FSCS) which provides compensation of up to $50,000 if the company is ever deemed unable to fulfill payments required. In addition, IG places all client funds into a segregated bank account to ensure that client funds are not lumped in with company funds. These accounts are stored within tier-1 banks that are highly trusted and this ensures that client money is well-protected.

In terms of account security, all personal data is transmitted using Secure Socket Layer protection that ensures client data is well protected. Additionally, two-factor authentication is an option for all clients at the point of log-in. This allows clients the option to receive verification codes direct to their phones to add another layer of protection that further prevent unauthorized persons from accessing their accounts.

IG Trading Platform

In large part, a major reason behind IG’s success is due to the impressiveness of their two main trading platforms, ProRealTime and MetaTrader 4.

  • ProRealTime is a web-based trading platform that contains impressive advanced charting packages and access to over 100 different technical indicators (TI’s). Further, it fully supports automated trading as well as offering direct market access to all types of trading instruments.
  • The most popular platform for traders, MetaTrader 4 is also available at IG. This is hardly a surprise given the popularity of this trading platform which provides users with a clear navigational interface, multiple language support options, advanced chart packaging, as well as access to advisors and many TI’s.

Mobile Trading Capability

The IG trading platform, ProRealTime is also available in a simpler form as a mobile app for both Apple and Android. The mobile app provides IG customers with access to the market and the ability to perform trades while away from their desktop and on their smartphones or mobile tablets, all under the protection of 256-bit SSL encryption.

Types of Trading

Our IG Markets review has found that, without a doubt, the most appealing attribute that this company has to offer their clientele relates to the incredible amount of trading instruments that are available. They provide access to over 10,000 asset offerings across a range of markets including indices, shares, forex, commodities, and digital 100s.

In relation to the highly popular cryptocurrency trading, IG markets allow their clients the opportunity to trade the following types of cryptocurrency as a CFD, although only against the US Dollar:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Litecoin
  • Ripple

Check out our list of the best cryptocurrency exchanges 2021 here!

Account Types

Our IG markets review uncovered that for those looking to trade specifically in forex, there are three trading account types to choose from. These are:

Demo Account IG Markets – This account type is perfect for the beginner or novice trader and provides access to both trading platforms so that the registrant can gain practice and familiarity with forex trading. This is a free service and there is no IG Markets minimum deposit required.

Standard Trading Account – The standard forex trading account is the first of two real money account types offered for forex traders. With this account type, the minimum spread is generally 0.6 pips and there is no commission on each trade. To open this type of account, the IG Markets minimum deposit is $200.

Direct Market Access Trading Account – For the more experienced trader. This account type contains a typical spread of 0.2 pips, but a small commission fee is charged on each trade. To open this type of account, the IG Markets minimum deposit to register is $200.  

Spreads and Commissions

As mentioned above, our IG Markets broker review in 2021 found that there is a commission charged on trades but only for those who open a direct market access account. For those opening a standard trading account, the only cost relates to the spread that they will need to cover. With a standard account, the spreads are wider than those of a direct market access account, but all spreads are competitive and below market average.

Payment Options

When submitting deposits with IG, it can be done via credit/debit cards, PayPal or via bank wire transfer. There is no cost when depositing money via debit card but a small 0.5-1% charge when using a credit card.

When it comes to withdrawals, IG ideally requests that they are made via credit card. There is no withdrawal fee for withdrawals more than $100. Most withdrawals are completed within three business days.

Promotions and bonuses

Our IG Markets broker review, unfortunately, found that this company does not offer any bonuses or promotions to their clientele. This is not a common trend among the forex industry with most usually offering an initial deposit bonus upon signing up.

Customer Support

Our IG review in 2021 found that the customer support offered by IG is of a conflicting nature. What is meant by this is that although they have received previous awards for excellent customer service, a quick scan of their forums reveals much negativity recently amongst their clientele in relation to the way that customer queries have been dealt with. This may be something of a blip in the system, and they may correct this, but we did need to mention that IG had some issues with customer dissatisfaction at the time of writing.

Positive Attributes

–              High level of safety and well-regulated

–              IG demo account setup available

–              A choice between MetaTrader 4 ProRealTime as excellent trading platforms.

–              Cryptocurrency trading is available as a CFD

–             Expansive range of trading instruments and assets


Negative Attributes

–              IG Markets minimum deposit is quite high

–              Customer service not fantastic

–              No IG Markets USA clients accepted

–             No bonuses and promotions


Our review of IG Markets found that in terms of a company with a long and illustrious history in financial trading, there are few with a greater track record than IG. With an incredible range of trading instruments available and access to two of the very best trading platforms on the market, you’ll be hard-pressed to find a more well-equipped forex brokerage. However, it must be noted that this company is not without its weaknesses. The IG Market minimum deposit is quite high compared to many competitors, there are no bonuses for loyal clientele and customer service could use improvement. All-in-all, we’d suggest you check out some of the other choices of forex brokers, before signing up with IG.


No comments so far.

Be first to leave comment below.

Your email address will not be published. Required fields are marked *