IG Review

Founded in 1974, IG has been in the broker game for quite some time. Based in London, IG offers a wide range of financial trading options that has seen them expand internationally. IG is regulated under the UK’s regulatory body, FCA.

Main Tradable Cryptos

BTC
ETH
XRP
BCH
EOS
XLM
LTC

Pros

  • Great browser trading platform
  • Established Forex broker
  • Competitive spreads

Cons

  • No financial protection to some users (e.g. U.S.)

Accounts

Opening an account with IG is very easy. You can register your account and explore the trading platform with ease.

In order to fully register you will need to provide the standard proof of ID which is all done digitally. There is a minimum of $300 to open an account with IG.

Fortunately, you can use the demo account immediately and get a feel for what IG has to offer. In terms of experience level, IG is quite good for beginners.

IG is available in most countries. This makes IG a good choice if you are a frequent traveller.

If you are from either the U.S., Japan, Singapore, UAE, or South Africa you will not have a protection scheme if you incur any losses.

Cryptocurrency Range

IG offers the following cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litceoin, EOS, Stellar and Neo. This is quite the list for a forex broker.

IG does not have any fees for trading cryptos, but instead use the spread in order to make their money. Their spread is competitive with other brokers, meaning it is subject to change.

This does mean you will encounter problems with slippage, but you can take precautions against this.

We advise you stay up to date with any fee structure changes as their CFD fees are generally on the high end.

Platform

IG has a browser platform, desktop platform download, and mobile app. The browser platform is new, with an older version more widely available.

The new version is a step in the right direction with a clear and clean style. Compared to the competition, IG’s platform is one of the better ones.

Entering trades is straightforward and switching between charts is easy to do. You will have a menu on the left-hand side (with the browser platform) which will take you to whatever your trading needs are: cryptos, forex, indices, shares etc.

Their mobile app is actually quite good, beating out most competitors in our opinion. Trading on the go is important and with IG’s app you can realistically trade with it.

There are three desktop platforms available to you. IG’s own platform is L2 Dealer – you need a minimum of £1000 in your account to trade with this.

The others are ProRealTime and MetaTrader4. ProRealTime requires £30 a month in order to use.

Customer Support

In regards to customer support, IG has experience and follows the standards set by the forex market.

You will have a personal account manager who should contact you soon after signing up. Utilizing this person will help you immensely with any difficulties you face.

In this manner, receiving support is almost effortless and usually of a high quality. There is also live chat available as well as phone or email support.

Recent updates to IG’s site include a much more thorough run down of their cryptocurrency fees and spreads.

Conclusion

It is clear that, currently, cryptos are becoming a bigger focus for IG with the new additions to their site. They are including more cryptos in their portfolio and will likely only expand their offerings from the current state.

IG has a fair amount of research and activity in the financial world. It is worth spending some time exploring the site and seeing what they have to offer. News and economic calendars are available on the site.

Below we have outlined the pros and cons for IG. Have a read through and if you think you’d like to trade with this broker, you can sign up here. We have other broker reviews available, so if you’d like to check out a few different ones have a look at the menu to the right.

Pros

  • Easy to register
  • Access to demo account immediately after registering

Cons

  • Live trading activation takes longer than average

Pros

  • Clean, clear, and easy to use
  • Multiple platforms available (Desktop, browser, mobile)

Cons

  • Desktop platform not available to all countries

Pros

  • Established Forex broker under FCA
  • Over 50 years of experience

Cons

  • No financial protection to some users (e.g. U.S.)

Pros

  • Competitive spreads
  • Low minimum deposit

Cons

  • Slippage may be an issue
  • Overnight fees

Pros

  • Personal account manager, live chat, email

Cons

  • Lack of information on website