IG Online Trading Platform Review
Overview of the IG Online Trading Platform
The IG Online Trading Platform is one of the world’s leading online trading platforms, providing users with access to a variety of financial markets around the globe. Established in 1974, IG is regulated by the Financial Conduct Authority and has a long history of providing reliable and secure services to its clients.
Features & Benefits of the IG Online Trading Platform
| Advanced Charting: | The IG Online Trading Platform offers an advanced charting package that enables users to make technical analyses of the markets. It includes over 80 indicators, 5 drawing tools, and a range of time frames. |
| Professional Support: | IG provides 24/7 professional support to help its clients get the most out of their trading experience. This includes live chat through their dedicated customer service team as well as access to expert insights and analysis from market analysts. |
| Variety of Markets: | The IG Online Trading Platform gives users access to more than 17,000 financial instruments across forex, indices, shares, commodities, ETFs, and cryptos. This means you can diversify your portfolio and trade in a range of markets with ease. |
| Free Demo Account: | With a free demo account, users can practice their trading skills with virtual funds before committing to real money. This feature allows new traders to become familiar with the platform and develop their trading strategies without any risk. |
Types of accounts available on the platform
The IG Online Trading Platform offers a range of account types to suit different trading needs. These include:
- Standard Account – A basic account with no minimum balance requirements and the ability to place trades with spreads from 0.6 points.
- Professional Account – This is designed for experienced traders who want access to prices not available on the standard account, along with leverage up to 200:1 and spreads from 0.45 points.
- Islamic Account – With no swap fees charged, this Sharia-compliant account is ideal for Muslim investors who want to trade without incurring additional charges or interest.
Security measures are taken by IG to protect user data
At IG, the privacy and security of its client’s data is taken seriously. The company employs the latest encryption technology to ensure that all user data is protected from unauthorized access or use. It also has a range of measures in place to protect against fraud, such as two-factor authentication for the login and account opening process.
A look at the fees associated with using IG online trading platform
The fees associated with using the IG Online Trading Platform depend on the type of account you have and the instrument you are trading. Generally, there is a minimum spread that applies to all trades, along with other fees such as commission and overnight financing charges.
How to set up an account with IG?
Setting up an account with IG is quick and easy. Simply go to the website and click on ‘Create Account’, fill out the required information, and hit submit. You then need to verify your identity by providing some personal details and a valid form of identification such as a passport or national ID card.
Tips for successful trading on the IG platform
- Develop a trading strategy: Having a well-defined trading plan and strategy will help you make better decisions when trading on the IG platform.
- Practice with a demo account first: It’s always a good idea to get acquainted with the platform before committing to real money trading, so it’s best to start by using the free demo account.
- Monitor your trades: The markets are ever-changing so it’s important to keep an eye on your trades and adjust your strategy accordingly.
- Use risk management tools: Risk management tools such as stop loss orders can help you manage your risk and protect yourself from potential losses.
Fees and Commission Rates on IG Trades
The fees and commission rates on IG trades depend mostly on the type of account you have and the instrument you are trading. Generally, there is a minimum spread that applies to all trades, along with other fees such as commission and overnight financing charges.
For example, for the most basic account, standard spreads start from 0.6 points for Forex pairs, while CFD Instrument fees range from 0.05-0.15%. Commissions may also apply depending on the instrument being traded – these can vary from 0-2% depending on your account type and chosen market.
Review Summary
| Pros | Cons |
|---|---|
| • Advanced charting capabilities | • Limited range of markets available |
| • Comprehensive market news and analysis | • High margin requirements for certain products |
| • Risk management tools | |
| • Multiple trading platforms | |
| • Extensive educational resources | |
| • Fast and reliable order execution |
Summary
Overall, the IG Online Trading Platform provides users with access to a variety of financial markets around the globe. With its advanced charting package, 24/7 professional support, free demo account, and range of accounts available, this platform makes it easy for traders of all levels to trade with confidence. The security measures taken by IG also ensure user data is kept safe from unauthorized access or use. Furthermore, the fees associated with using this platform are competitive compared to other online trading platforms in the market. All in all, the IG Online Trading Platform is a great choice for traders looking to diversify their portfolios and get into the markets.
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