Company name: IG (IG.COM)
Founded: 2017
Headquarters: United Kingdom, United States
Regulatators: AU ASIC / DE BAFIN / UK FCA / CH FINMA / JP FSA / US NFA / ZA FSCA / BA BMA
Minimum deposit: $250
Maximum leverage: 50:1
FEATURES:
- Reputable broker, competitive pricing
- Fast, free deposits and withdrawals
- Top-rated IG App & trading platform
- Regulated in the USA, UK, Europe, South Africa, Australia and Japan
Note: BEST FOREX BROKERS 2023 – FOR US CLIENTS – RATING SCORE OF 4.7 OUT OF 5.0
IG (IG.COM) offers an excellent fit for both small traders and market professionals, with competitive spreads, thousands of trading instruments, and a state-of-the-art news, research, and educational portal!
IG (IG.COM) reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
IG (IG.COM) Review | IG (IG.COM) Rebates – Forex Broker Rating
Table of Contents
We start our IG review by analyzing the overall ratings of this forex broker. Also, we would like to point out that this review is only about the IG entity in the USA.
IG (IG.COM) Overall Rating
Currently the broker receives a score of 4.7 out of 5.0.
IG pricing: the broker scores 5 out of 5 for its competitive pricing. The forex account spread, for the EUR/USD for example, starts at 0.8 pip (average 1.2 pip) with no trading commissions.
IG regulation: an excellent 5 out of 5. Registration with the US CFTC, also a member of the US NFA, and appropriate retail client safety mechanisms are in place.
IG popularity: very popular with the trading community, the broker scores 4.5 out of 5. The brand has a global presence on several continents, providing traders with excellent trading conditions, advanced trading platforms and professional educational materials.
IG user rating: ranking above average, with traders praising IG.COM mainly for its fast account opening and trading conditions.
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IG (IG.COM) Regulation / Money Protection
Currently the broker receives a score of 5.0 out of 5.0.
1) US regulation: IG US LLC is registered with the USA National Futures Association (NFA), NFA ID 0509630, with a Forex Dealer Member license. The registered office is at 200 W Jackson Blvd, Suite 1450, Chicago, IL 60606, United States. This entity is also registered with the CFTC as a Retail Foreign Exchange Dealer.
2) UK regulation: IG Markets Limited is registered in England and Wales with company number 04008957. The registered office is at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA, United Kingdom. This entity is authorized and regulated by the FCA with license number 195355.
3) European regulation: IG Europe GmbH, is registered in Germany as a Securities Trading company. With a registered address at Westhafenplatz 1, 60327 Frankfurt am Main, Germany, the company is regulated by Germany’s Federal Financial Supervisory Authority (BaFin), with license number 148759, to provide the investment services of CFDs trading and other derivatives in Europe.
4) Australian regulation: IG Markets Limited, (trading as IG), is registered in Australia with ABN 84 099 019 851. This entity is regulated by the Australian Securities & Investments Commission (ASIC), with an AFSL license, number 220440. IG Markets Limited is registered to carry out financial services business in Australia, limited to the financial services covered by its AFSL license, and also in New Zealand, with an FSP license, number 18923.
More About Forex Broker Regulation
5) Japanese regulation: IG Securities Ltd, with a registered address at 1-6-1, Roppongi, Minato-ku, Tokyo, is authorized and regulated by Japan’s Financial Services Agency (JFSA) with JCN number 9010401051715. The company holds a Type I Financial Instruments Business license, number 255.
6) South Africa regulation: IG Markets South Africa Ltd, is registered in South Africa with company number 2010/000229/10. With a registered address at The Place, 1 Sandton Drive, Sandton, the company is authorized and regulated by South Africa’s Financial Sector Conduct Authority (FSCA) with a financial services provider (FSP) license, number 41393.
7) Switzerland regulation: IG Bank S.A., with a registered address at 42 Rue du Rhone, 1204 Geneva, is authorized and regulated by the Swiss Financial Market Supervisory Authority (FINMA).
8) Bermuda regulation: IG International Limited can be the main counterparty for clients of other countries around the globe, not covered by the above regulations. This entity, with an address at 16 Burnaby Street, Hamilton HM11, Bermuda is regulated by the Bermuda Monetary Authority (BMA) with license number 54814.
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Client Money Protection
IG complies with the highest safety standards regarding clients’ funds, by offering segregated accounts. This means that client’s funds are fully segregated from the company’s funds, in top-tier international banks.
Regulatory Deposit Insurance
IG US LLC (IG US) does not provide regulatory deposit insurance, as, currently, this protection mechanism is not a requirement by the USA financial regulators. This means in the unlikely event that this broker is unable to pay claims, or in case of default, investors might not be entitled to compensation.
Negative Balance Protection
There is no Negative Balance Protection (NBP) mechanism available to customers. This means clients are not protected from losses bigger than their original investments.
IG (IG.COM) Cashback Rebates
Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
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Notes
IG US accounts are not available to residents of Ohio.
What Are IG (IG.COM) Rebates?
IG (IG.COM) rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How Do IG (IG.COM) Rebates Work?
When you link a new or existing forex trading account to Cashback Forex (CBFX) the broker pays them part of their spread or commission profit for every trade you make as compensation for referring a customer. CBFX then share the majority of the revenue with you, paying you a cash rebate for each trade you make as thank you for signing up.
Your spreads will never increase as a result of using this service! The only difference is: as a CBFX client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, CBFX are the original and leading provider of forex rebates. CBFX pay rebates to over 100,000 accounts and traders love a helpful 24 hour live chat, telephone and email support.
Are IG (IG.COM) Rebates A Scam; Do My Spreads Increase?
IG (IG.COM) rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are There Any Other Benefits To Signing Up For IG (IG.COM) Rebates?
It depends on the rebate provider. Due to CBFX’s unique relationship with many brokers, they have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond, since they typically have many clients. Their knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. They also offer trading tools, calculators, reviews and a robust forex education section.
How Are Forex Rebates Paid?
Because CBFX deals with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what they offer:
Forex rebate options vary per broker:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
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IG (IG.COM) Profile
Established in early 1974, the IG.COM broker is a premium multi-asset online brokerage company, and a global provider of trading services headquartered in London, United Kingdom. The group has also offices in the USA, several European countries and in the Asia-Pacific region.
IG.COM provides easy access to a wide range of asset classes including forex, thousands of equities*, cryptocurrencies*, indices*, commodities* and even government bonds*. This forex broker offers the MetaTrader4, the in-house developed App (available for iOS and Android devices) and, our recommendation, the excellent proprietary online platform (available as WebTrader) for trading.
*Not available with IG US LLC (IG US)
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IG (IG.COM) Asset Classes
The IG US entity proposes a limited selection of financial instruments for trading, only forex. Still, it provides traders with competitive pricing and cutting-edge trading platforms, available for desktop and mobile versions.
Currencies: 80+ pairs, including Major, Minor and some Exotic crosses.
Cryptocurrencies: crypto CFDs are not available to clients.
Commodities: commodities CFDs (Gold, Silver, Oil, Gas, etc.) are not available to clients.
Indices: indices CFDs are not available to clients.
Stocks: shares CFDs are not available to clients.
IG (IG.COM) Account Types
IG offers one trading account, a forex trading account, with variable spreads and no trading commissions. Traders can get an edge with an award-winning platform, designed to be with traders wherever they are. The platform is available in Apple and Google’s app stores for mobile devices.
It is also worth mentioning the other features available (or not):
Swap-free accounts for traders of Islamic belief are currently unavailable.
Social trading, including copy trading, is currently unavailable.
PAMM accounts and MAM accounts (Multi-Account Manager) for money managers are unavailable.
The maximum forex leverage ratio is up to 50:1.
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IG (IG.COM) Demo Account
IG (IG.COM) demo accounts gives users the chance to test the broker’s pricing and execution on several asset classes, without risking any real money.
The demo account is non-expiring
Virtual funds: from $10,000
Leverage: up to 50:1
Trading instruments: 80+ forex pairs
Register for free and test your trading strategies, open a demo trading account with no risk and no obligation now.
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IG (IG.COM) Pricing
Spreads And Trading Commissions
For our IG (IG.COM) price comparison table, we use the EUR/USD pair as the benchmark, for its popularity with traders and because it is the most traded FX pair.
The spread starts at 0.8 pip, with an average of 1.2 pip. The Forex account is commission-free and the ideal solution for investors looking to trade with only the bid/ask prices.
Rollover Rates
This is one of the negative points of IG US. The broker is not publishing its swap rates. We tried with a live account on its web-based platform, and also with a demo on MT4, and looked at contract specifications.
The rollover rates are unknown, thus, impossible to publish in this review. Of course, this broker is well aware of this issue, as several traders complain online.
Instead, the broker publishes an explanation of how overnight fees are calculated, here: customer agreements (ig.com)
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IG (IG.COM) Deposits / Withdrawals
IG US proposes one trading account, Forex, in just one base currency. The broker accepts account deposits with multiple funding methods, including ACH:
Account currencies: USD.
Forex account recommended minimum deposit: 250 USD.
Funding methods: ACH, bank wire, debit cards.
Deposit fees: The broker does not charge fees for deposits. However, US intermediary banks may charge a transaction fee. This brokerage also passes the deposit fees to clients for international deposits or deposits not made in USD.
Deposit processing times: from instant to 10 minutes (bank wires up to 5 working days).
Withdrawal fees: This forex broker does not charge withdrawal fees, except a $15 fee for withdrawals via wire payments.
Withdrawal processing times: variable, from 1 to 48 hours (bank wires up to 5 working days).
Inactivity fee: The broker reserves the right to charge an inactivity fee of $12 per month, charged to accounts if there is no trading activity for 24 months.
For more information, please visit the US trading costs web page, or log in to your portal.
IG (IG.COM) Popularity
IG is fast becoming a very popular broker in the US, and with retail traders, for its many unique features:
Client safety mechanisms: segregated accounts with tier-1 banking institutions (HSBC), regulated by the US NFA and US CFTC.
Competitive pricing: spreads from 0.8 pip on the Forex account, zero trading commissions, no fees on deposits/withdrawals.
Execution model: MM.
Trading education: Academy, online trading courses, webinars, seminars, news and analysis, event calendar.
Customer support languages: English.
Overall, the curated range of instruments available for trading, the competitive pricing of the Forex account, the IG’s feature-packed trading platform, merged with the attractive zero-fees on deposits and withdrawals policy, position IG (IG.COM) on the top 10 brokers for popularity with traders opening a trading account in 2023.
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IG (IG.COM) FAQs
Is IG US a regulated retail forex broker?
Yes, this is a regulated brokerage.
What is the minimum deposit?
The recommended minimum deposit for the Forex account is $250.
What is IG US’s maximum forex leverage?
The maximum forex leverage ratio for accounts opened with the US regulated entity is 50:1.
Can I earn rebates with this brokerage?
Yes, traders can earn rebates from trading with this broker. Please check the cashback rebates section.
What funding methods are available to customers?
The broker accepts account deposits with ACH, bank wire and debit cards.
What account currencies are available?
With this forex broker, traders can open a trading account in USD only.
What trading platforms are available?
Investors can trade the markets via MetaTrader 4 and the excellent IG’s proprietary platform.
Does IG US offer Cent accounts?
No, this forex broker does not have Cent accounts.
Does this brokerage have negative balance protection?
No, this broker does not have a negative balance protection (NBP) mechanism. Without NBP, traders can lose more than their original investments.
Does this brokerage have regulatory deposit insurance?
No, this broker does not have regulatory deposit insurance, as, currently, it is not a legal requirement by US financial regulators to operate in the United States as a forex dealer.
Does this broker have swap-free accounts for traders of Islamic belief?
Yes, there are swap-free accounts for traders of the Islamic religion available. Terms and conditions apply.
Does this forex broker accept applications from residents in Japan?
No, this broker does not accept applications from residents in Japan.
Does this boker accept applications from residents in Canada?
No, this brokerage does not accept applications from residents in Canada.
Does this brokerage allow scalping trading?
Yes, this broker allows scalping trading. And with its fast execution speeds and reliable execution, it can represent a reliable option for scalping.
What is the execution model?
The execution model is MM (Market Maker).
Does this forex broker have mobile trading platforms?
Yes, this broker serves clients with the MT4 and IG’s proprietary platforms, available for mobile devices running on iOS and Android systems.
Does this brokerage have a trading API?
No, this broker does not provide a trading API.
Does IG US pay interest on margin?
No, the brokerage does not pay any interest on margin.
What type of spreads are available?
The spreads are variable only (from 0.8 pip).
IG (IG.COM) Real Customer Rating
IG US verified customers, with a live trading account, recommend the broker for its fast account opening process and overall trading conditions.
Negatively, some users pointed out that requotes can occur.
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IG (IG.COM) Review – Final Considerations
We conclude our IG review with the final considerations regarding this forex broker. IG US is a regulated forex broker.
Regulation by the US NFA (National Futures Association) and by the US CFTC (Commodity Futures Trading Commission).
IG (IG.COM) offers an excellent fit for both small traders and market professionals, with competitive spreads, thousands of trading instruments, and a state-of-the-art news, research, and educational portal.
If you are interested in automated forex trading systems that really work, we suggest checking our TOP 30 RANKING of BEST FOREX EA’S | EXPERT ADVISORS | FX ROBOTS with Myfxbook verified real live trading results!
Overall, we recommend the broker for its fast account opening process and overall trading conditions and position IG (IGM.COM) on the top 5 forex brokers for popularity with traders opening a trading account in 2023.
