IG Markets Review

IG Markets is the largest retail Australian forex broker with strong reviews, a range-of-markets including FX, CFD and share trading, low spreads from the IG Markets ECN forex direct account starting at 0.6 pips for EUR/USD and the choice of trading platforms including MetaTrader 4, L2 Dealer and ProRealTime.

By Justin Grossbard / Updated: Tuesday, February 18th, 2020

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‘Top 3’ Strengths Of IG Markets Australia

  1. Australian and overseas stockbroking services
  2. Choice Of The Leading Trading Platforms
  3. Low fees and competitive spreads

‘Top 3’ Weaknesses Of IG Markets Australia

  1. Low leverage of up to 200:1
  2. Average customer service levels
  3. Poor customer reviews

View the full IG review below where each of these strengths and weaknesses is explored further.


Our Rating

The overall rating is based on review by our experts

6.67
Spreads
5 / 10
Leverage
4 / 10
Trading Platform
7 / 10
Risk Management
7 / 10
Range of Markets
10 / 10
Customer Service
7 / 10

IG Markets Australia Review Conclusion

IG is the most popular retail foreign exchange forex broker and their all-in-one offering of forex, CFD, spread betting and share trading is why traders choose the broker. Compare Forex Brokers recommends IG for high volume traders (who attract a lower commission) with a low-risk appetite.

IG Markets South AfricaThe forex broker is not suitable for:

  • Those new to currency trading (try EasyMarkets who offer minimum balance protection and Trade Cancellation).
  • Those looking for high leverage (try IC Markets who offer 500:1 leverage)
  • Small to medium volume traders looking for low spreads fees (try Pepperstone who offer the Razor ECN account)

Additional IG Information

When opening an account four core funding options exist for currency traders:

  1. Credit Cards – Mastercard and Visa can be used to fund IG markets live account with a 0.5% charge applicable respectively 1.0% fee for Visa credit card.
  2. Debit Cards – No charge applies to MasterCard debit card funding and Visa debit cards. This funding option offers instant deposit feature.
  3. bPay – No costs are incurred through bPay but funds can take two working days before they are cleared.
  4. PayPal Account – As an alternative online payment solution, FX traders can fund their live account through PayPal.

IG Minimum Deposit

The minimum deposit to start online trading or spread betting with IG Markets is $450 or the equivalent in your local currency. All client funds as discussed earlier are segregated into a separate bank account as per AFSL regulations. Clients of IG Markets can fund their trading accounts in any of the following currencies: USD, GBP, EUR, AUD, and HKD. IG clients must be aware that an inactivity fee of $18 will be levied on all trading accounts that have no trading activity for 24 consecutive months.

Forex segregated accountsAbout IG Group

IG Group is a worldwide global leader in online multi-asset trading headquartered in the City of London, UK. IG clients and possible customers can reach the UK-based broker at its head office address: Cannon Bridge House 25 Dowgate Hill London EC4R 2YA. The company is also listed on the London Stock Exchange LSE and is included in the FTSE 250 Index.

IG Markets Spread Betting

IG is truly an international forex broker with over 45 years of experience in the financial markets. For our IG Markets Review, we assessed if the brand can serve clients from around the world. Our team of industry experts found that IG has a remarkable global presence through its 16 offices (including UK, USA, Australia, Singapore and Europe) spread all around the globe and across five continents.

Spread Bets vs Trading CFDs

If you’re considering spread betting and having the option to trade at the same time CFDs, IG Markets is among the fewest online brokers offering both leveraged products. IG clients can open spread bets CFD trading in both market directions (long and short) across more than 16,000 financial instruments. The most popular markets that can be traded with the CFD accounts include currency pairs, shares, cryptocurrencies (Bitcoin and Ethereum), ETFs and much more.

Largest Retail Foreign Exchange Brokers

IG Markets Review – License and Regulation

Why choose IG MarketsEstablished in 1974, IG Markets is trusted by over 178,500 worldwide retail investors. IG Group is subject to strict standards and operates under the norms imposed by tire-one regulatory bodies, including:

  • Financial Conduct Authority (FCA) in the UK
  • Australian Securities and Investments Commission (ASIC) in Australia
  • Financial Sector Conduct Authority (FSCA) in South Africa
  • Financial Markets Authority (FMA) in New Zealand
  • National Futures Association (NFA) in the USA

The table below outlines all the regulatory bodies that supervise IG trading activities.

Authorization and Regulation Online Trading

Additionally, trading CFDs on IG.com come with extra peace of mind as IG Markets 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.

To visit the IG Markets website, click the button below.

Open a demo account >>Visit IG >>

Compare IG To Other FX Brokers With Our 'Head To Head' Comparison Tables

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