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  • Withdrawal Fees: /
  • Customer Support: Email, phone
  • Managed Portfolios: Yes
  • Managed Portfolio Fee: 0.72% on the first £50,000, 0.22% on investments over £50,000
  • Leveraged Accounts: Spread betting and CFDs
  • Maximum Leverage: 1:30

minimum price:

Free accounts

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IG Review

IG is one of the top brokers in the UK. If you want to find out how a small spread betting platform managed to transform the UK’s investing scene, read this IG review.

IG Review

minimum price:

Free accounts

Visit Website
  • Withdrawal Fees: /
  • Customer Support: Email, phone
  • Managed Portfolios: Yes
  • Managed Portfolio Fee: 0.72% on the first £50,000, 0.22% on investments over £50,000
  • Leveraged Accounts: Spread betting and CFDs
  • Maximum Leverage: 1:30

Best For

Share dealing

STRENGTHS

  • Educational resources and a demo account
  • Thousands of tradable assets
  • Excellent support system
  • Portfolios designed by BlackRock

WEAKNESSES

  • Too complex for complete beginners
  • Potentially long withdrawal processing times

Are you looking for a trading platform that offers smart portfolios managed by professionals, CFD trading, share dealing and tax-efficient ISAs, all in one place? I have good news — IG is exactly what you need!! 

This easy-to-use trading platform is a one-stop-shop for versatile assets. It opens the door to countless opportunities, allowing you to step up your trading game. There’s more to this broker than meets the eye, so take a few minutes to read this IG review

What Is IG?

IG broker first saw the light of day in 1974, when Stuart Wheeler, a famous British financier and political activist, decided to open a spread betting firm. Since then, the team behind IG has expanded its interests, becoming a trading platform used by thousands of clients worldwide.

The IG trading platform partnered with BlackRock in 2017 to allow clients to invest in ready-made, managed portfolios at an affordable price. As a result, IG now offers five unique portfolios that match different levels of risks clients are ready to take when tapping into foreign markets.

Who Is IG Best for?

IG allows you to invest in a fully-managed portfolio, making it a suitable broker for first-time investors. Experienced brokers can use other IG services, such as CFD trading.

This trading platform allows investors to build their trading skills with IG Academy and a demo account. You can download the IG academy app for free and use it to access webinars, online courses, and educational materials. Then, when you’re ready to take a step forward and begin trading with assets on the IG platform, you won’t be surprised by its complex charts and features.

To sum it up, IG is a trading platform for:

  1. First-time investors who want to invest in fully managed portfolios.
  2. Experienced traders who understand complex charts and practices.
  3. Those who want to grow and elevate their skills without investing a penny in expensive trading courses. 
  4. Those who want to execute trades using a demo account before participating in real-life trades. 

IG operates in over 180 countries worldwide and is fully legal and regulated in the UK. Moreover, you must be 18 or older to join IG.

How Does It Work?

In this section of my IG review, I’ll give you a brief overview of the platforms offered by IG. First, we’ll focus on IG’s unique platforms. Then, I’ll tell you about IG’s partners and the programs you can use.

IG Platforms

IG has a browser-based online trading platform, a mobile app, and a progressive web app. These platforms are suitable for all IG clients — which one you use will depend on your preferences.

The standard, browser-based app will do the work if you prefer to execute your trades via PC. On the other hand, you’ll install the IG app if you want to trade on the go. Finally, the progressive web app allows you to access your IG account via a browser or a mobile shortcut.

Here’s how these platforms compare:

 

IG Online Trading Platform Mobile Trading App Progressive Web App
Platform costs Free Free Free
Available products Share dealing, CFDs, spread bets Share dealing, CFDs, spread bets CFDs, spread bets
Research tools In-platform newsfeeds, economic calendar, signals In-platform newsfeeds, economic calendar, signals None
Monitoring tools Autochartist, ProRealTime, IG charts IG mobile charts IG mobile charts
Direct market access For share dealing only Available on iOS No
Price improvement Yes Yes Yes
Trade from charts Yes Yes Yes

 

For more information about these platforms, click here

Specialist Platforms

IG is the only UK broker offering ProRealTime technical analysis software. You can install it on PC, Mac, and Linux and use it to trade IG’s 18,000+ market offerings and analyse financial markets. 

If you become an IG client, you’ll also get to use MetaTrader 4 (MT4), a major third-party platform for spread betting and CFD trading. Apart from comprehensive analysis and automated trading tools, you’ll also get several free add-ons you can use to improve your trading strategy. 

Another well-known platform you’ll be able to use when you join the IG community is L2 Dealer. One of the best features of L2 is its customisable interface that delivers news feeds and market alerts. Additionally, L2 provides Direct Market Access and OTC access to 17,000+ tradeable international markets.

In the table below, you’ll find a brief comparison of IG’s specialist platforms.

 

ProRealTime MetaTrader4 L2 Dealer
Desktop accessibility Download (launcher) Download Download
Mobile accessibility No Through the IG app No
Available products CFDs, spread bets CFDs, spread bets CFDs, share dealing
Monitoring tools ProScreener, Alerts, TopMovers, Lists, ProRealTrend, and Automated trading Expert advisors Algorithmic orders, watchlists, and customisable alerts
Direct Market Access (DMA) No No For share dealing and CFDs (DMA on forex available to Pro clients only)

For a detailed comparison, click here

Accounts and Services

IG offers two main account types — leveraged accounts (CFD and spread betting accounts and non-leveraged (share dealing ISAs and IG Smart Portfolios). 

CFD and Spread Betting Accounts

Spread betting and CFD accounts are gateways to profiting off of volatile markets. With these accounts, you don’t have to buy the assets you want to deal with. Instead, you can take long or short trades and make good money when the market moves in your favour. 

CFD and spread betting are leveraged products, allowing you to participate in high-value trades with small deposits. Of course, trading with leverage is risky, but it opens a new door to building sustainable wealth. 

IG broker’s leverage on CFD and spread betting accounts goes up to 1:30. The markets you can trade using these accounts include ETFs, ETCs, commodities, bonds, futures, forex, shares, stock indices, and more. 

With an IG trading account, you can trade CFDs and bet on over 18,000 markets without paying stamp duty or capital gains tax. On top of that, IG will keep your funds safe with the negative balance protection policy, so you’ll never lose more than you can afford.

Share Dealing ISA Accounts

A share dealing ISA is a flexible and tax-efficient product that allows you to maximise your investments. You can invest up to £20,000 per tax year, and all profits you make with your investments won’t be subject to UK tax. 

You can open a share dealing ISA free of charge. Also, IG won’t charge you transfer or exit fees. Still, the FX conversion fee on ISAs is 0.5%.

If you’re wondering about IG’s share dealing fees, this broker offers zero-commission trading of US shares to all ISA holders. However, this service provider will charge you £3 for dealing with UK shares. These rules apply only to users who have executed at least three trades in the previous month.

So, if you’re interested in buying stocks in the UK, know that ISA holders can invest in over 13,000 global stocks and ETFs

IG Smart Portfolios

If you’re looking for a low-cost managed portfolio, you’ve come to the right place. IG’s expertly managed portfolios feature some of the lowest fees on the market, starting from 0.50% of your investments.

IG’s goal is to tailor its portfolios to users and their risk levels, meaning the portfolio managers won’t ever make an investment decision that doesn’t align with your goals. Additionally, IG Smart Portfolios are designed by BlackRock — a well-known asset manager — so you can rest assured that you’re getting a top-tier product. 

You can get one of the five available IG Smart Portfolios and hold as many portfolios as you like. Additionally, IG allows you to choose between GIA and Smart Portfolio ISA, with GIAs being useful add-ons to those who have already invested their ISA allowance.

IG Fees

IG doesn’t charge any account fees. So, you won’t face additional costs if you want to open a standard or demo account. However, the IG inactivity fee is £12 per month, which will be charged if your account is inactive for a year. On the bright side, you won’t have to pay the IG withdrawal fees.

Spread Betting and CFDs

You can trade spread bets from 0.6 points on key FX pairs, 0.1 points on commodities, and 0.8 points on indices. When it comes to CFDs, you’ll have to pay a commission share trade. 

When trading shares, you’re dealing at the actual market price. As a result, IG can’t charge you a spread, which is why it takes a small commission each time you open/close a trading position.

IG Smart Portfolios

Regarding the IG Smart Portfolios, this service provider offers free rebalancing. However, managed accounts aren’t free. 

Here’s how much IG Smart portfolios cost:

IG Smart Portfolios IG management fee Average fund costs Transaction costs Total annual costs
On the first £50,000 0.50% 0.13% 0.09% 0.72%
Investments over £50,000 Free 0.13% 0.09% 0.22%

Account Setup and Withdrawals

It should take you less than five minutes to complete the account setup and verification process. All you need to do is take the following steps: 

  1. Visit the IG website and select the Create a live account button
  2. Create a profile by providing your full name, email, and a new password
  3. Provide personal information, such as your address and country of residence
  4. Give IG insight into your financial health and trading experience
  5. Choose the account type and verify your email address
  6. Fund your account and start investing

Withdrawals and Deposits

IG withdrawals vary depending on the device you use to initiate a fund transfer. For desktop withdrawals, you’ll have to:

  1. Log into your MyIG account
  2. Select the Live Accounts tab
  3. Click on the Withdraw Funds button
  4. Use the same method you’ve previously deposited with to avoid delays
  5. Specify how much money you want to withdraw and initiate the transfer

If you want to withdraw money from IG using your smartphone, click on the Account button at the bottom right corner. Then, select the account you want to withdraw from, specify the amount and hit the Withdraw button.

The table below illustrates minimum and maximum withdrawal amounts on IG based on different currencies and payment service providers:

Currency Minimum withdrawal (PayPal and cards) Maximum withdrawal (PayPal — per transaction) Maximum withdrawal (cards — per day)
GBP 100 5,500 20,000
EUR 150 7,000 25,000
USD 150 7,500 19,999

Regarding IG deposits, you can fund your account via bank transfer, PayPal, or credit/debit card. Ensure the card or PayPal/bank account is in your name, as IG doesn’t accept third-party payments.

IG minimum deposit is £250 if your preferred deposit method is PayPal or credit/debit card holders. On the other hand, you can deposit as little as you wish with a bank transfer.

Mobile App

The IG mobile app offers fast execution of trades and a user-friendly interface, allowing you to navigate the app hassle-free. The IG app was designed by traders who understand how much a straightforward trading experience means to users.

One of the best things about the IG app is that it includes most features and tools you’d usually find on a web-based platform. That said, you can use your IG app to trade, deposit, or withdraw funds on the go.

You can also control the risk level you’re comfortable with using tools such as trailing or guaranteed stops. What’s more, you can trade directly from customisable charts on the IG app and analyse various markets using several technical indicators.

Security

IG is authorised and regulated by the Financial Services Authority (FCA), so it must comply with the FCA’s rules regarding clients’ assets management. For example, IG must hold clients’ money in segregated accounts, preventing it from using these funds to cover its own expenses. 

Additionally, clients’ money is covered by the FSCS. This means your deposits of up to £85,000 are protected if one of the banks IG uses to hold your money goes into liquidation. 

IG platform is secure. However, if you want to add an extra layer of protection, you can enable two-factor authentication. IG has an authentication app you can download on your smart device and use to receive the codes needed to log in to your IG account. 

IG Competitors

In my opinion, IG is the best UK stockbroker. So, naturally, it had to beat many competitors to deserve that title. Let’s talk about them. 

IG vs eToro

IG and eToro have been ruling the UK’s trading scene for a while now. Although the platforms are very similar, IG has a better trading platform and product selection. 

IG has gone above and beyond to provide resources for those who want to start trading from scratch. In addition, its educational content matches various experience levels, allowing all traders to grow. eToro also has a decent selection of educational materials, but it cannot compare to IG’s content quality. 

IG offers higher-end products, meaning the costs of trading on this platform are significantly higher. Of course, IG’s services are worth every penny, but if you’re looking for commission-free trading, eToro is the better choice.

IG vs Interactive Brokers

Interactive Brokers is an American brokerage firm with over a million active clients. That said, it’s more popular than IG, which counts roughly 200,000 users. 

IG and Interactive brokers share a similar fee structure, but IG gravitates slightly toward the more expensive side. However, both brokers offer a wide selection of products, boasting satisfied and large customer bases.

Still, one thing to keep in mind is that Interactive Brokers has a broader selection of indicators and drawing tools. As a result, it allows you to be more precise when executing trades. 

Customer Support

The IG customer support team is eager to answer all your questions and provide quick and comprehensive solutions to existing issues. You can contact them via phone or email, and they’re available 24 hours a day, Monday to Friday. 

If you don’t want to contact customer support but need answers to your questions, IG’s growing community has your back. IG offers an online space where you can share knowledge and chat with your peers or IG’s team.

User Reviews

IG trading reviews on Trustpilot show that 71% of reviewers have rated IG as an excellent platform. As a result, IG has a 4/5 star rating.

These IG reviews show people’s satisfaction with the platform’s simplicity and customer support agents’ professional approach.

IG Trading User Reviews | CyberCrew

However, according to some users, IG isn’t all that perfect. For example, some claim IG takes weeks to process withdrawals, while others say they can’t trade with shares on this platform. Still, IG has thousands of customers, and only a small percentage of users reported these issues.

Wrap Up

We can conclude from this IG review that IG is a well-developed trading platform you can use for various purposes. Whether you want to trade with CFDs, invest in an ISA, or have your portfolio managed by professionals, IG won’t disappoint. 

Nevertheless, trading on a new platform can be overwhelming and challenging. So, I suggest creating a demo account to test IG’s potential and relying on IG’s Academy to elevate your skills before placing your first trade.

Good luck and happy trading!

FAQ

Is IG safe?

Yes, IG is a safe trading platform regulated by several prominent regulatory bodies. It is listed on the London Stock Exchange, meaning it must comply with the rules and safety precautions this stock exchange imposes. To put it another way, if you decide to open an IG account, your funds and personal information will be safe.

Is IG good for beginners?

IG is a good option for beginners wanting to invest in a fully-managed portfolio. It ensures all users have access to educational materials, allowing everyone to become a better trader. 

How long do IG withdrawals take?

IG withdrawal time depends on the payment service provider of your choice. Usually, PayPal transfers are completed within a day, while credit/debit card payments will be processed in up to five working days. Withdrawals via bank transfer should reach you on the same day, but on some occasions, bank account holders have to wait up to three days to access their funds.

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