IG Group Review

 

Overall, IG can be summarised as a trustworthy and regulated broker that offers tight spreads and fast execution.

IG Securities Ltd is regulated by multiple Financial agencies, including the Financial Sector Conduct Authority in South Africa.  IG has a trust score of 96 out of 99

 

 

 

 

IG Spider Chart

 

 

 

Pros and Cons

 

Overview

• IG is a world-leading online trading provider that caters to South Africans and International investors.
• IG, also known as IG Trading and IG Group, has a longstanding commitment to South Africa, and as of 2010, IG Markets South Africa Limited (IGMSA) has been regulated by the FSCA.

Features Offered

• IG offers a range of services suitable for traders from the most junior to the seasoned professionals.
• There is access to over 17,000 markets, from Forex and indices, through stocks, to commodities. The scale of trading with them is huge.
• Advanced charting and risk management features, such as guaranteed stop-loss orders, plus education, all round out an already robust platform.
• In addition, IG uses innovative technology that ensures speedy execution of trades and smooth mobile applications, hence very reliable for traders who want flexibility.

 

 

IG Customer Reviews

• IG maintains consistently high customer reviews and ratings due to its steadfast trading platform, wide market offering, and excellent customer support.
• Traders like the interface’s usability, advanced tools, and smooth experience with the mobile app.
• The educational resources of IG and risk management features are also highly praised to ensure informed and secure trading.
• Generally speaking, feedback considers IG to be a very solid and professional broker, although the fees are sometimes a bit higher.

 

 

Customers Ratings

 

 

Safety and Security

 

The IG Group is licensed and regulated by multiple trusted entities, including:

• IG Markets Limited (IGM) and IG Index Limited (IGI), incorporated in England and Wales, are separately licensed as investment firms by the FCA.
• IG Europe GmbH (IGE) has a regulatory license from the German Federal Financial Supervisory Authority (BaFin) and Deutsche Bundesbank
• IG Bank SA (IGB) is authorized as a bank and securities dealer by the Swiss Financial Market Supervisory Authority (FINMA)
• IG Limited, incorporated in Dubai, is licensed by the Dubai Financial Services Authority (DFSA)
• IG Asia Pte Ltd (IGA) is regulated by the Monetary Authority of Singapore (MAS)
• IGM is regulated in Australia by the Australian Securities and Investments Commission (ASIC) under an Australian Financial Services Licence
• IG US LLC (IG US) is registered as a retail foreign exchange dealer (RFED) and introducing broker (IB) with the CFTC
• IG International Limited (IG INT) is licensed by the Bermuda Monetary Authority.

 

Protection of Client Funds

When a trader deposits money into an IG Trading Account, it will be protected in several ways. Essential steps taken to protect client funds include:

• Client Funds are held in segregated accounts.
• Client Funds are never merged with IG’s own.

 

 

Is IG a regulated broker?

Yes, IG is regulated by top-tier authorities like the FCA, ASIC, and FSCA, ensuring compliance with strict financial standards and providing investor protection such as segregated client funds.

 

How does IG protect client data?

IG uses advanced encryption, secure servers, and strict internal protocols to safeguard personal and financial information, ensuring high levels of cybersecurity and data protection across its platforms.

 

IG At a Glance

 

IG Account Types

 

• IG provides access to International, Corporate, and CFD account types.
• No minimum deposit amount is required to register an IG live trading account.

 

International Account

 

 

• To trade global markets, you’ll need to open an international account, a requirement by the South African Reserve Bank.
• To get an IG international account, you just need to fill out the application form for a live account.
• You’ll automatically be given both a domestic and international account, but it’s completely up to you whether to fund just one or both.

 

Corporate Account

 

 

• Trade the financial markets through a corporate structure, even if you’re not an institutional client.
• IG offers trading solutions for institutional and retail corporate clients.
• These account options are based on powerful technology, a massive range of tradable markets, and dedicated user support.

 

 

CFD Account

 

 

No minimum deposit amount is required to register an IG CFD Account.  IG CFD Account benefits include:

• Tight Spreads
• Low Commissions and Margins
• Superior Trading Platform
• Expert charting packages
• Free educational videos and resources
• Free data and research

 

 

Islamic Account

• IG does not offer an Islamic swap-free trading account on any level. IG Markets does not offer Extended Swap-free status.

 

Demo Account

 

 

• IG does offer 2 free demo trading accounts for beginners to practice forex trading in a 100% risk-free environment.
• The IG demo accounts expire after 30 days.

 

 

 

What account types does IG offer?

IG provides Retail, Professional, and Share Dealing accounts, each tailored for different trading needs with varying leverage, access to instruments, and regulatory protections.

 

Can I open a demo account with IG?

Yes, IG offers a free demo account with £10,000 in virtual funds, allowing traders to practice strategies and explore the platform risk-free before transitioning to a live account.

How to Open an IG Trading Account – A Step-by-Step Guide

 

Step 1:  Create a Live Account

• Start the application by clicking on the green “Create Live Account” button located on the landing page or throughout the website in the header of the page.

 

 

Step 2:  Registration Form

• The applicant must start the setup by supplying general information, including a valid email address and country of residence.

 

 

Step 3: Complete Personal Information

• The next step will need more personal information to be added, including the applicant’s direct contact details and identification number.

 

 

Step 4:  Address Details

• The applicant must complete their address details to move on to the final steps of the registration process.

 

 

Step 5: Financial Information

• The second last step is to complete the Financial details, including the applicant’s annual income and employment history.

 

 

Step 6: Trading History

• In the final step, Applicants must provide their trading history.  Once this step has been completed, the application can be saved and closed.

 

 

 

IG Fees, Spreads, and Commission

 

• Trading with IG Group will involve fees starting at $10 USD, spreads starting at 0.3 pips, and commission-free trading, depending on the account traders select.

 

 

Does IG charge trading commissions?

Yes, IG charges commissions on share trading, while forex and CFD trading are mostly commission-free with costs embedded in the spreads.

 

What are the typical spreads at IG?

IG offers competitive spreads starting from 0.6 pips on major forex pairs, with spreads varying based on market conditions and instrument type.

 

IG Trading Platforms

 

• The IG Trading Platform is a proprietary trading platform that can be used to research, place, monitor, and edit trades.
• IG users can choose from a wide selection of platforms, including desktop platforms, trading apps, web-based platforms, and third-party programs, including MT4, ProRealTime, and APIs.
• However, the IG proprietary Trading Platform remains the top choice.
• The IG Trading Platform includes an easy-to-use deal ticket, smart charts, News and Analysis, IG Live, Alerts, Signals, and a Customisation Option.

 

 

What platforms does IG offer?

IG provides its proprietary platform, MetaTrader 4 (MT4), and L2 Dealer for advanced traders. All platforms support a wide range of tools, indicators, and fast execution.

 

Can I trade via web and desktop?

Yes, IG supports trading through web browsers, downloadable desktop platforms, and integrated mobile apps, providing flexibility and full access to features across all devices.

 

Mobile Experience with IG Group

 

• Overall, IG Group South Africa’s mobile trading solution is highly considered by traders since it’s flexible and has all the features a trader would need in trading investment assets on the go.
• There is a well-designed mobile application that operates on both iOS and Android; the interface is quite easy with clear navigation, so that even a newcomer in the trading business can easily trade.
• Watchlists can be personalized, as well as see a live changing price of the securities, and use different types of orders, including stop-loss and limit orders.
• It also enables convenient working with accounts, with the traders being able to deposit, withdraw, or check the status of their accounts through their mobile terminals.

 

Is IG’s mobile trading app user-friendly?

Yes, IG’s app is intuitive, fast, and feature-rich, offering full access to charts, technical analysis tools, trading alerts, and secure account management on the go.

 

Can I monitor my trades on mobile?

Absolutely. IG’s mobile app allows users to monitor open positions, manage trades, set alerts, and execute orders seamlessly from any iOS or Android device.

 

How to download the Mobile App Step by Step

 

Step 1 – Open the Google Play Store on your Android device.

In the search bar, type “IG Trading” and tap the search icon. Look for the app developed by IG Group (ensure the developer is correct to avoid downloading unofficial apps).

 

 

Step 2 – Tap “Install” to begin downloading the app.

• Once the installation is complete, tap “Open” to launch the app. Log in with your existing IG account credentials, or tap “Sign Up” to create a new account.

 

 

How do I download IG’s app on Android?

Go to the Google Play Store, search for “IG Trading,” tap “Install,” wait for the download to complete, and then sign in with your IG credentials to start trading.

 

How do I install IG on iPhone?

Open the Apple App Store, search for “IG Trading,” tap “Get,” wait for installation, and then launch the app to log in or register your IG account.

 

IG AI Integration

 

• AI technology is integrated at IG to empower traders with better decision-making and market analysis tools.
• These include advanced analytics, automated trading signals, and customized insights that reflect a trader’s behavior.
• AI augments market forecasts, providing more accurate identification of possible opportunities for traders.
• Moreover, IG uses AI to enhance user experience through fast data processing and intelligent trade execution.
• This certainly sets the indicator on IG’s innovation and furnishes traders with an edge in contemporary technology.

 

 

 

What markets can I trade with IG?

IG offers access to over 17,000 markets, including forex, indices, shares, commodities, ETFs, cryptocurrencies, options, and interest rates.

 

Can I trade global stocks on IG?

Yes, IG allows clients to trade global shares from the US, UK, EU, and Asia, offering both leveraged CFDs and traditional share dealing options.

 

Range of Markets

 

• IG Markets offers over 17,000 markets to trade, including Indices, Forex, Shares, Commodities, and much more.

 

What markets can I trade with IG?

IG offers access to over 17,000 markets, including forex, indices, shares, commodities, ETFs, cryptocurrencies, options, and interest rates.

 

Can I trade global stocks on IG?

Yes, IG allows clients to trade global shares from the US, UK, EU, and Asia, offering both leveraged CFDs and traditional share dealing options.

 

IG Deposit and Withdrawal

 

• IG accepts multiple trusted methods for deposit, including credit cards, debit cards, and bank transfers.
• IG International accounts can be funded via ABSA, Nedbank, FNB, or Standard Bank.
• Traders can withdraw funds as a bank transfer or back to a card as a refund.

 

What deposit methods are available at IG?

IG supports bank transfers, credit/debit cards, and PayPal, offering secure and fast deposit options with no fees charged by the broker.

 

How long do IG withdrawals take?

Withdrawals typically take 1–3 business days, depending on the method used. IG processes requests quickly, though banks may have additional processing times.

 

IG Minimum Deposit

 

• No minimum deposit amount is required to register an IG live trading account.
• IG provides access to National, International, and Corporate account types.

 

🔎 Broker
💰 Min. Deposit	$0 USD
💵 Annual Charge	None
🪙 Inactivity Fee	Yes
📌 Markets	16000+
📱 Mobile Trading	Yes
🤝 Support	24/7
📝Sign up	👉 Open Account

 

What is IG’s minimum deposit?

IG requires a minimum deposit of $250 for card and PayPal payments. Bank transfers may have lower or no minimum requirements depending on the region.

 

Can I start trading with less than $250?

Not usually. IG recommends starting with at least $250 for optimal margin availability, though demo trading requires no deposit.

 

Awards

 

IG Group, a leading online trading provider, has been recognized with several awards in South Africa, highlighting its excellence in the financial services sector.

 

Notable accolades include:

• 2012: Voted South Africa’s top CFD provider in the Business Day Investors Monthly Annual Stockbroker Awards.
• 2013 & 2014: Recognized as the best platform for Active Day Traders.
• 2015 & 2017: Named South Africa’s best Online Broker.
• 2020: Awarded South Africa’s best CFD provider.
• 2021: Honored as South Africa’s Top CFD Broker.

 

Has IG won industry awards?

Yes, IG has received numerous awards for best platform, trading experience, and customer service from respected industry bodies like ADVFN and Investment Trends.

 

What makes IG an award-winning broker?

IG is recognized for its advanced platforms, extensive market access, educational tools, and regulatory trust, consistently ranking high in user satisfaction and performance reviews.

 

IG Sign-Up Bonus

• IG does not offer a sign-up bonus. IG also does not offer a welcome bonus, or deposit bonus, or the advantage of a no-deposit bonus when traders register a real account for the first time.

 

Does IG offer a sign-up bonus?

No, IG does not typically offer sign-up bonuses, as it adheres to regulatory guidelines that discourage promotional incentives to ensure fair trading practices.

 

Are there promotional campaigns with IG?

While IG doesn’t offer traditional bonuses, it occasionally runs special promotions or refer-a-friend programs, depending on your region and applicable regulations.

 

IG Affiliate Program

 

• The IG Group makes affiliate programs available to traders in South Africa and the United Kingdom.
• The IG Broker affiliate programs will require traders to meet select minimum requirements.
• Traders must have an active, publicly accessible web presence that can be reviewed.
• IG Trading Affiliates can earn for each qualified client introduced to IG.

 

 

Does IG have an affiliate program?

Yes, IG offers a competitive affiliate program with CPA (cost per acquisition) and revenue share models for introducing new traders to the platform.

 

How can I join IG’s affiliate program?

You can apply via the IG Affiliate website. Once approved, you’ll receive tracking links, banners, and reporting tools to monitor your performance and commissions.

 

Education and Research

 

• IG makes education and research available via the IG Academy app and a help section.
• The IG Academy offers access to free online courses, webinars, and seminars.

 

 

 

What educational resources does IG provide?

IG offers a comprehensive learning portal, including webinars, articles, video tutorials, and trading courses suited for beginners to advanced traders.

 

Is market research available to clients?

Yes, IG provides daily analysis, expert insights, economic calendars, trading signals, and sentiment indicators to help traders stay informed and develop strategies.

 

Broker Comparison

 

Forex Trading Guides

• IG Group, a global leader in online trading, offers comprehensive resources for forex traders in South Africa.
• Their educational materials cater to both beginners and experienced traders, providing insights into various trading strategies and market dynamics.

 

IG South Africa provides a detailed overview of popular forex trading strategies, including:

• Bollinger Bands: Utilized to identify potential support and resistance levels by measuring market volatility.
• Momentum Indicators: Help assess the strength of a currency’s movement, indicating overbought or oversold conditions.
• Fibonacci Retracements: Assist in pinpointing potential reversal levels in the market.
• Bladerunner Strategy: Combines candlestick patterns with moving averages to identify trading opportunities.
• MACD (Moving Average Convergence Divergence): A tool for detecting changes in the strength, direction, momentum, and duration of a trend.

 

 

Customer Support

 

• IG makes customer support available via Live Chat, a Help/Support section, an Online Query Form, and Social Media Support.

 

Customer Reviews

 

⭐Excellent

“I’ve been trading with IG Group for over two years, and I can confidently say their platform is outstanding.

The range of trading instruments is impressive, and the user interface is intuitive. What stands out is their customer support – they are knowledgeable and always quick to respond.

Withdrawals are processed smoothly, and I’ve never had issues with delays. Highly recommend it for serious traders!” Reviewer: John M

 

⭐Good 

“I like IG Group’s platform – it’s stable and offers a good variety of CFDs. Spreads could be slightly better for frequent traders, but the overall experience is positive. I did experience a slight delay with my withdrawal once, but the issue was quickly resolved. A solid broker for South African traders.” Reviewer: Thabo Dlamini

 

⭐Average

“IG Group is okay, but not without its flaws. The spreads are decent, and the platform works fine most of the time. However, the account verification process took longer than expected, and it was a bit frustrating. It’s a decent broker, but they could improve on processing times and add more local deposit methods.” Reviewer: Lerato M

 

 

References

STILUS UNDERWRITING MANAGERS (PTY) LTD – FSCA

Australian Securities and Investments Commission (ASIC)

MetaTrader 4

 

You might also like:

IG Account Types

IG Demo Account

IG Fees, Spreads, and Commission

IG Minimum Deposit

IG Sign up Bonus

 

Disclaimer

Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.

Traders need to ensure that they understand their risk exposure and determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.

 

Our Review Methodology:  For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.

This evaluation is comprised of positives, disadvantages, and an overall score based on our findings.

We want to assist you in locating the ideal broker for your requirements.

Our broker review should not be considered as financial advice, and traders are urged to seek professional financial advice before making any investment or trading decisions.

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors.

Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk.

You should not start investing capital that you cannot afford to lose, because you could incur a loss of part or your original investment.

 

Frequently Asked Questions

 

Is IG brokers a fake or scam?

No, IG Brokers is a legitimate online trading platform and is not a fake or scam.

IG Group is regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities and Investments Commission (ASIC) in Australia.

 

What is the overall rating for IG out of 10?

The overall rating for IG is 9/10 for several reasons: IG is a well-established and reputable broker with over 46 years of experience in the industry.

It is regulated by multiple financial authorities. IG has a strong financial position, with a market capitalization of over £3 billion and a solid track record of financial performance.

This gives traders confidence that their funds are safe and that the broker is financially stable.

 

Which trading platform is supported by IG brokers?

The IG Trading proprietary platform is a unique trading platform that allows users to conduct research, place, monitor, and modify trades.

Traders using IG have the flexibility to choose from a range of platforms, including desktop, trading apps, web-based, and third-party platforms like MT4, ProRealTime, and APIs.

 

Which financial instruments can be traded with IG?

IG Broker offers a wide range of financial instruments that can be traded, including:

1. Forex: Traders can access over 80 currency pairs, including major, minor, and exotic pairs.
2. Stocks: Traders can trade CFDs on thousands of stocks from markets around the world, including the US, UK, Europe, Asia, and Australia.
3. Indices: Traders can trade CFDs on a variety of stock indices, including the FTSE 100, S&P 500, and NASDAQ.
4. Commodities: Traders can trade CFDs on popular commodities, such as gold, silver, oil, and agricultural commodities.
5. Cryptocurrencies: Traders can access a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

 

Where is the headquarters of IG brokers?

The headquarters of IG Brokers is located in London, United Kingdom. In addition to its headquarters in London, IG has offices in several other countries, including Australia, Germany, Switzerland, and the United States.