IG Markets Spread Betting Review

Spreads and Broker Costs

IG offers a spread betting account with a variable spread pricing model, meaning your only trading costs are built into the spread, with no extra commissions to pay. In my testing, this has simplified the betting process while the spreads were reasonably competitive, producing a low-cost option that can tap into a wide range of markets.

Spread Betting Account Spreads

On the benchmark EUR/USD pair I use to test, IG averaged spreads of 0.85 pips across multiple trading sessions, placing them in line with the rest of the brokers. When I tested the other major pairs, I found the broker offered industry average, if not slightly better, spreads, positioning itself as a low-cost broker for forex spread betting. You can see my findings in this comparison table:

I like that IG’s low spreads of under one pip on the most heavily traded forex pairs can significantly reduce trading costs, especially for day traders or scalpers who open frequent positions. Although the spreads are tight, the small savings on the spread can stack up.

IG’s spreads are also very competitive across other popular markets. For example, their spreads on major stock indices like the FTSE 100, Germany 40, and Wall Street 30 are some of the lowest around, typically 1 point. Spreads on spot gold are also consistently tight at around 0.3 points on average during my time trading with IG.

Of course, there are overnight funding fees if you hold a spread bet overnight (10 pm UK time), which are charged based on the initial margin you have deposited. Every spread betting broker charges this, so if you want to avoid these charges, simply close your position before 10 pm.

Verdict on IG Group’s Spreads

I think IG offers overall competitive spreads for the spread betting industry, especially for gold and forex major pairs. Even during major news announcements, I was impressed that the variable spreads remained stable and didn’t deviate too greatly from the average.

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70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Execution Speed and Trading Conditions

A broker’s execution speed and trading conditions will make or break your experience with them, which is why I experiment with the broker, ensuring they are fast and stable. I know how crucial fast execution speeds and reliable trading conditions are for successful spread betting.

Execution Type

During my time spread betting with IG, I found that my bets were executed instantly without any noticeable lag or delays. I didn’t encounter requotes or experience slippage when placing orders, even with my stop losses, which was decent.

IG is a market maker that provides spread betting services, which is how all spread betting brokers operate. However, what sets IG apart is its no-dealing desk (NDD) execution model. This NDD execution means that rather than taking the other side of your trade, IG routes your orders directly to its liquidity providers in the interbank market for execution.

I prefer brokers who make it clear they use the NDD model. I think it provides a faster execution service, as your bets are matched almost instantly with the liquidity provider. Plus, it promotes transparency by eliminating any conflict of interest a broker may have when you place your bet through the platform.

Verdict on IG Market’s Trading Conditions

During my tests, I was impressed with IG’s execution speeds and trading conditions for spread betting because I did not experience any lag or slippage. Through the broker’s NDD execution, I get not only near-instant executions but also the best available pricing, which is a big positive in my books.

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70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Is IG Markets Safe?

IG Markets is one of the UK’s largest and most well-established spread betting brokers. As a highly trusted provider, IG is fully regulated by the Financial Conduct Authority (FCA), providing clients with a safe trading environment.

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Financial Regulation

In the UK, a spread betting broker cannot offer its services without being regulated and authorised by the Financial Conduct Authority (FCA). The FCA is known for its strict oversight and client protection measures and is considered the best regulator by which most brokers strive to get authorised.

By being FCA-regulated, IG must adhere to rules around segregating client funds, maintaining adequate capital, and treating customers fairly, thus providing a strong safety net for IG clients.

What I find even more reassuring is that IG holds licenses with multiple tier-1 regulators globally:

Having authorisations from several highly respected regulators is a huge trust signal, in my view. It demonstrates that IG’s operations and practices have been vetted and approved by some of the strictest financial authorities in the world, providing a secure trading environment.

Reputation

Another factor that gives me confidence in IG’s safety is its reputation. IG has been in business since 1974, making it one of the oldest online brokers and serving over 313,000 clients worldwide. During my tests, I found the broker processed an impressive £2.3 trillion in notional flow per quarter, some of the largest figures I’ve seen from a broker.

I believe having such a large client base is a strong vote of confidence – traders choose IG because of its trusted reputation. If IG had a history of issues, it simply wouldn’t have survived this long or grown to its current scale.

The fact that IG Group is listed on the FTSE 250 index further reinforces its trustworthiness. The FTSE 250 comprises the largest companies listed on the London Stock Exchange by market capitalisation. To be included in this index, IG Group has to meet strict requirements in terms of size, liquidity and corporate governance, reinforcing its reputation as a trustworthy broker.

Verdict on IG Markets’s Trustworthiness

I think when you take into account their FCA regulation, oversight by multiple tier-1 authorities, long operating history, and large client base, you can be confident that IG Markets is a safe and trusted broker for spread betting. During my tests, I found that IG has the proper guardrails to protect your funds while being a publicly traded company on the FTSE 250, which ranks it among the most trustworthy brokers I’ve reviewed.

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70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Range of Markets

IG offers one of the largest ranges of financial instruments for spread betting, with over 17,000 markets available to trade, giving you the best choices for spreading bet.

Forex

I’m impressed with IG’s extensive selection of over 80 currency pairs, covering all the major pairs like EUR/USD and GBP/USD and a wide array of minor and exotic pairs. I appreciate having access to such a solid range of forex markets, as it allows you to take advantage of global opportunities.

Commodities

IG provides a decent range of commodity markets, with:

• 7 energy markets,
• 11 metal markets (including gold and silver), and
• 23 soft commodity markets.

This comprehensive range covers everything from copper to wheat, making it a particularly good selection if you want to exploit supply and demand and seasonal trends.

Stock Indices

With 130 stock index markets available, IG offers a complete selection if you want to gain exposure to global equity markets. I like that they cover not only the major indices like the S&P 500 and FTSE 100 but also provide access to smaller regional indices, which is a great option if you want more volatility in your portfolio.

Shares

One of IG’s standout features is its extensive range of share markets, with over 12,000 individual stocks available to trade. This includes shares from major exchanges like the NYSE, NASDAQ, and LSE and many smaller global exchanges. Whether you’re interested in blue-chip stocks like Apple and Amazon or smaller, lesser-known companies, you’ll certainly find the stock with IG.

ETFs

I found that IG offers over 6,000 ETF markets, making it one of the largest offerings I’ve come across. This extensive choice of ETFs allows you to easily construct diversified portfolios or gain exposure to specific sectors, geographies, or asset classes with ETFs like iShares Core S&P 500.

Bonds and Interest Rates

While IG’s bond selection is more limited than its other asset classes, with 14 bond markets available, it still provides a decent choice for traders interested in fixed-income securities. The offering includes government bonds from major countries like the US, UK, and Germany and some corporate bond markets.

Options

IG stands out as it is the only broker that allows spread betting on options, with over 7,000 options markets available. This is an advantage if you are looking to employ more advanced strategy options or want a financial instrument with built-in risk management. The range of options covers various underlying assets, including stocks, indices, and commodities.

Verdict On IG Markets Trading Products

I’m impressed with the depth of trading products offered by IG. With over 17,000 markets covering forex, commodities, indices, shares, ETFs, bonds, and options, IG firmly places itself as the best spread betting broker regarding the choice of markets.

Open a demo accountVisit IG

70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Trading Platforms

IG provides a choice of spread betting platforms, including its proprietary web platform, MT4, and ProRealTime. I tested each one and was impressed by the range of features and tools available.

IG Group Trade Web Platform

Out of the available platforms, I think IG’s Web Trader to be the best for most traders. It offers all the top features I’d expect from a trading platform, including 60+ indicators like Ichimoku clouds and decent drawing tools ideal for technical analysis. Being a web platform, it lacks advanced features like automating trades, but it provides full access to IG’s extensive range of markets, which MetaTrader 4 lacks.

However, I found the IG Trading Platform offers guaranteed stop-loss orders, making it a great option if you want to sharpen your risk management.

MetaTrader 4

IG is one of a few brokers offering MT4 with their spread betting products, bringing the platform’s advanced tools and automation capabilities to spread betting. The platform is highly customisable, as you can create your indicators through the MQL4 language or program your automated spread bets with expert advisors.

However, due to MT4’s infrastructure, it’s unable to provide prices for shares. So, to spread bets on individual stocks, you should consider the web platform or ProRealTime instead.

ProReal Time

ProRealTime is similar to MT4, offering advanced indicators that you can customise and automated spread betting, but I think it has a better-looking interface. I like the extensive range of indicators available – over 100 in total, with advanced drawing tools, including Fibonacci retracements and Eliott Wave tools. A standout feature on the platform is ProRealTrends, which automatically provides trendlines and support/resistance levels across multiple timeframes. This is great for breakout traders as it allows you to analyse markets faster.

Mobile Trading Apps

As for mobile trading apps, I found each platform available on all devices, including mobile. The IG Trading app had the most features similar to its desktop counterpart, allowing you to switch between the two devices effectively and still access the same trading tools and charts.

The MT4 app is lacklustre in comparison. Only its basic features are available on the mobile app, meaning there is no automated trading, customised indicators, or synchronised accounts. In fact, I found the MT4 app best for monitoring positions and executing trades on the go.

Meanwhile, ProReal Time offers more advanced indicators and shares your platform configuration across all devices, allowing you to easily track and analyse the markets.

Free Trading Tools

Signal Centre

One tool available is the Signal Centre, which is an automated technical analysis research service provided by Autochartist and PIA First, two top providers. While testing the platform, I found that Autochartist focuses on chart patterns while PIA uses breakout methods, giving you different methodologies to follow each day.

I liked that each signal provides analysis and market commentary on what to expect, giving you a clear reason why the opportunity exists. This is helpful, as you can decide if it’s worth taking.

The Signal Centre is only available on the IG Trading Web Platform, but if you prefer using MT4 or ProReal Time, you can open your web trading platform in a browser, giving you the best of both worlds.

IG TV

This is a great feature for keeping up with market news without leaving the platform. It provides Bloomberg-style updates and discussions on key events and data releases throughout the day, helping you stay in the loop while actively trading.

Verdict On IG Markets Trading Platforms

I don’t think you can go wrong with any of the options IG offers for its spread betting platforms. The web trader is the best equipped for spread betting on all of IG’s markets with decent charting. MT4 offers automated trading, and ProReal Time has the best tools for technical analysis. Either way, the broker is one of a few that offer multiple platform options for spread betting, which I look for in a broker.

Funding and Withdrawals

IG Markets provides multiple convenient ways to fund and withdraw your trading account without additional costs.

What Is The Minimum Deposit At IG Group?

The minimum deposit at IG Markets is £250 if you fund your account with a debit card, but there is no minimum deposit if you use a bank transfer. I’d imagine the difference is that the card provider charges the broker, so they impose the minimum on cards to make it cost-effective.

Deposit Methods and Fees

When I opened my live trading account with IG Markets, I found the deposit process straightforward. You can fund your account using a debit/credit card or bank transfer, giving you a flexible choice. It took one business day for my deposit to clear, but IG Markets charged no fees, which is a definite plus.

While the available deposit methods are secure, I would have liked to see some e-wallet options like Skrill or PayPal for added convenience. However, debit cards and bank transfers are still spread betting brokers’ most common and reliable deposit methods.

Withdrawal Methods and Fees

IG Markets offers the same withdrawal methods as they do for deposits:

• Debit cards
• Credit cards, and
• Bank transfers

I tested the withdrawal process, which was straightforward: You make a simple request with the amount of funds you want to withdraw. After my withdrawal request was approved, the money arrived in my bank account within two business days.

The approval and processing time may vary slightly depending on the day of the week you make the request. However, IG Markets generally aims to process withdrawals within 3 days from approval, which is in line with industry standards.

One of the best things about IG Markets is that they don’t charge withdrawal fees or have minimum withdrawal requests.

Account Opening

Opening a spread betting account with IG Markets was a fully online process for me. The application took just a few minutes to complete. You must provide personal information and answer questions about your financial status and trading experience, a standard requirement for all regulated brokers.

I uploaded my documents for identity verification, and the approval came through within 2 hours, making the account opening process quick and painless overall. The exact approval time may vary between applicants, but it’s generally quite fast in my experience.

Verdict On IG Markets Funding

I believe IG Markets ranks highly in terms of its funding and withdrawal process. The deposit methods are secure and free of charge, even if the options are somewhat limited and have low minimum requirements and a low threshold. While the withdrawals are processed quickly with no additional fees, helping IG deliver a seamless, low-cost way to fund your trading account.

Customer Service

I believe IG provides decent customer support that is accessible 24 hours a day during the trading week and has multiple ways to get in touch if you have any questions or issues.

The broker’s comprehensive online help centre is packed with detailed answers to commonly asked questions, so you can often find the information you need instantly.

I’ve found their live chat support mostly good for more complex or account-specific queries. The real humans operating the chat are knowledgeable and responsive and know what they’re talking about when asked for help. I never feel like I’m talking to a bot or getting canned responses.

Another huge plus is IG’s readily accessible phone support. With some other brokers, phone support is treated more as an “emergency line”, and they try to funnel you to email or chat first.

But IG makes it easy to speak with someone directly to get fast, effective assistance with any question or problem. I value being able to get instant help from a broker.

Verdict On IG Markets Customer Service

Having reliable customer support is pivotal for any spread betting broker, and this is where I think IG has done an excellent job providing 24-hour service. You can access self-service support through the IG online platform or real-time support (with human agents) through telephone and live chat, which allows you to get resolutions faster than when dealing with bots.

Research and Education

IG provides an impressive selection of educational resources through its comprehensive IG Academy program and valuable market research and analysis via its free email subscription services.

Morning Call

One of the offerings is the Morning Call email, which I use to help plan my trading day before the markets open. It provides a concise summary of key indices, economic events, and corporate highlights to watch. I thought this was a great way to stay on top of potential market movers and generate trade ideas, especially if you are busy, as the bite-sized information is easy to digest and take action on.

Trade of the Week

Another research service from IG that I enjoyed was the Trade of the Week updates published every Monday morning. This service provides trade ideas and market analysis to help kick off the trading week. I appreciate how IG’s expert analysts break down the trade and share their knowledge on the ideas, giving you the rationale behind the betting opportunity. Through this service, I’ve discovered some interesting trade ideas and market insights that have helped broaden my watchlist.

The Week Ahead

I’ve found IG’s The Week Ahead email is a handy resource for mapping out your trading week. It provides a helpful calendar of the key economic events and data releases that could move the markets over the coming days. This research service is a quick and easy way to get a high-level overview of what to watch in the week ahead.

Educational Resources

The IG Academy is one of the most comprehensive educational resources I’ve seen from a broker.

The online courses cover everything from trading basics to advanced strategies and risk management, with over 30 lessons tailored for beginners. I particularly like the bite-sized video library, which covers various trading concepts and psychology, which are aspects of trading commonly left out of education.

Live webinars with IG experts are also a great way to learn from experienced professionals and ask real-time questions.

Verdict On IG Markets Research and Education

I think IG has done an excellent job in providing a timely email service to ensure you are in the loop of the markets, acting like a personal market analyst. As for education, the broker’s resources are decent, too, with IG Academy and webinars providing abundant lessons to help accelerate your education.

Final Verdict On IG Markets

As one of the oldest brokers I’ve tested, IG has clearly used its wealth of experience to shape one of the best brokerages in the UK. The broker offers top trading conditions with its no-dealing desk execution, competitive spreads averaging 0.85 pips on EUR/USD, and an extensive choice of 17,000 markets.

IG adds further value through its proprietary trading platform, which features advanced charts and trading tools. If you are an advanced trader, it offers a choice of platforms, such as MT4 and ProReal Time.