IG Markets

Company overview

IG Markets was founded in 1974 as a spread betting company, known as IG Index (Investors Gold Index). It was listed on the London Stock Exchange (LSE) for a couple of years, went private with a management buyout, and then was relisted in 2005. It is now one of the FTSE 250 constituent companies, as IG Group Holdings.

It is regulated by the FSA in England, ASIC in Australia and MAS in Singapore.

Available Platforms

The platform is browser based, and called PureDeal. For those who are used to downloading software and running the platform locally, it may seem a little unresponsive, but some traders prefer to know that they are entering orders directly to the broker’s computer. There is an advanced charting function, by IT-Finance, which loads up separately when called upon. Although comprehensively equipped, the overall impression is that the platform is a little disjointed, appearing as it does in a series of floating windows. This is a matter of personal preference, and you should try a demo account, which is quick and easy to set up, to first see if you like the arrangement before committing to a live account.

Trading is also available from your cellphone or iPhone.

Account Types

IG Markets offer one type of account that has two uses. Firstly, with the standard Forex trading account IG Markets are the market makers, using several different banks to offset your trades. With a dealing desk arrangement, IG initially takes the counterparty position to your trades.

For those people who are distrustful of a dealing desk, feeling it is subject to broker manipulation, there is also another mode of operation available from the same platform. By clicking in the top right corner, you can trade on the North American derivatives exchange (NADEX) which allows you to trade spreads and binary options on currencies, and includes a broad selection of other financial instruments too.

Support

IG Markets is available by telephone from Sunday afternoon to Friday evening, covering all the hours that the Forex market is open.

There is basic training available on the website, including some webinar recordings.

Summary

• √ No commissions.
• √ Well capitalized.
• √ Web-based trading.
• √ Worldwide offices with local regulation.
• √ Choice of dealing desk or NADEX market.
• x Live help not 24 hours.