IG forex broker, based in London, the capital of England is a broker belonged to the IG Group Holding Plc. The IG Group was founded in 1974 with the name IG Index. In early days, IG provided traders and investors with creative and ground breaking methods to predict gold price. Since 2003, they have gone full digital. Currently, they have offices in 16 countries with more than 140,000 customers around the world. Today we’ll tell you why you should open IG accounts.
Why you should open IG accounts
IG is one of the top brokers in terms of safety and transparency. Being a very old broker, IG has been regulated by 6 different organizations, including FCA, CFTC, ASIC, FINMA, MAS, and JFSA. You are definitely safe when trading with IG.
Moreover, IG stresses on the security of traders by the login process. You have to pass two verification steps, one password on the platform, and a confirmation code on your phone. This process may be time consuming but it guarantees your security. Even when hackers know your password, they can’t take the account away from you.
The forex trading platform is a strong point of IG. Besides the common MT4 platform that has been used by the majority of forex brokers, IG has developed their own web trading platform. It is phenomenal. This platform is easy to use, packed with wonderful features and tools, and totally customizable. Beginners in forex trading can get used to this platform instantly.
Another convenient and advanced feature of IG is the notification feature. You can set up notifications as you want for price movement, technical signals, or other events. This is a new and creative idea that IG was the first to think of.
For trading cost, IG has very low spreads. The regular accounts of IG all have spreads as low as 0.6 to 0.8 pip for the main currency pairs. This is a very competitive price in the market.
While most European brokers can only support customers 24/5, IG is available for its clients 24/7. You can contact this broker by 3 means of communication: live chat, phone call, or through email. This broker’s support team usually respond very quickly on the live chat on their website or phone call.
IG has only 2 types of account: CFD account and DMA account. The first one is for normal traders while the other is forex experts and professional traders.
IG CFD account
The IG CFD account is the more common account of IG forex broker. Most traders choose to open this account because of its low fees and great features. Like I said earlier, for the main currency pairs, IG’s spreads are very low. Moreover, it doesn’t require any deposits to open the account. You can deposit any amount of money you want to open it. This account is also commission-free. However, if your account stays inactive for more than 2 years, you will be charged $18 every month. Since IG has up to 6 regulations, the maximum leverage is very low, only 1:50.
IG DMA account
DMA stands for Direct Market Access. This is a non-dealing desk account, or an ECN account. It doesn’t have spreads. Instead, it charges you commission. The commission of this account is $10 for each completed trades.
That’s a quick review of IG forex broker. I hope after this article, you’ve learned why you should open IG accounts.