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Top Takeaways for 2019.

Started by Indonesia, Apr 09, 2020, 09:56 am

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Top Takeaways for 2019.
After spending several hundred hours testing 28 Forex brokers over six months for our third annual Forex broker review, here are our top findings on IG:
Founded in 1974, IG is regulated in six tier-1 jurisdictions, making it a safe broker (low-risk) to trade Forex and CFDs with. As of May 31st 2019, IG held total assets of over £1.12 billion on its balance sheet (excluding over £1.38 billion in client segragated money).
IG provides comprehensive trading and extensive research tools powered by real-time exchange data and a combination of in-house and third-party content. Publicly traded on the London Stock Exchange (LON:IGG) and a constituent of the FTSE 250 Index. IG has competitive commission-based pricing and low spreads on major Forex pairs, and offers both market-maker and agency execution. IG's flagship platform provides traders access to a vast range of over 17000 markets encompassing CFDs on shares, indices, currency pairs, commodities, bonds, and cryptocurrencies. While IG also offers MetaTrader along with premium MetaTrader add-ons from FX Blue, only 76 tradeable instruments are available, limiting its appeal beyond algorithmic trading compared to its flagship platform.
Forex Direct offering is only available to professional traders within the EU. Advanced charting on ProRealTime requires Java which limits its usability for non-Java users. IG offers outstanding customer service. The broker finished 1st place out of 23 brokers in our national testing across the United Kingdom.
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Is IG Safe?
IG is considered low-risk, with an overall Trust Score of 99 out of 99. IG is a publicly traded company, operates a regulated bank, and is authorised by six tier-1 regulators (high trust), three tier-2 regulators (average trust), and no tier-3 regulators (low trust). IG is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC). Learn more about Trust Score.
Feature IG Year Founded 1974 Publicly Traded (Listed) Yes Bank Yes Tier-1 Licenses 6 Tier-2 Licenses 3 Tier-3 Licenses 0 Trust Score 99.
Offering of Investments.
The following table summarizes the different investment products available to IG clients.
Feature IG Forex: Spot Trading Yes Currency Pairs (Total Forex pairs) 93 CFDs - Total Offered 17535 Social Trading / Copy-Trading Yes Cryptocurrency traded as actual No Cryptocurrency traded as CFD Yes.
Commissions & Fees.
IG uses its size to provide traders competitive pricing across the board, regardless of the product you trade, and shines for its active trader pricing available through its Forex Direct accounts.


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Average spreads: For mini and standard size contracts, minimum spreads on the EUR/USD were 0.6 pips, and average spreads were 0.7 pips, for the 12 weeks ending May 31st, 2019.
Active traders: For volume traders who qualify as professionals under EU rules, IG has even more competitive rates on its commission-based offering, Forex Direct. Forex Direct is offered on IG's L2 Dealer platform, requires only a £1,000 minimum, and uses a tiered pricing scale based on the trader's previous month's trading volume.
Execution method: Forex Direct streams from interbank liquidity providers where IG acts as an agency broker - and doesn't add on any additional spread. Instead, IG adds a commission to each trade you make (similar to FXCM's agency execution and other brokers with commission-based pricing).
Gallery.
Further Reading.
Feature IG Minimum Initial Deposit £250.00 Average Spread EUR/USD - Standard 0.7 (as of May 19) All-in Cost EUR/USD - Active 0.363 (as of Mar 16) Active Trader or VIP Discounts Yes.
Platforms & Tools.
All in all, IG provides an excellent offering of trading platforms and tools. The functionality is widespread and serves traders of all experience levels.
Flagship platform: IG's main trading platform is its proprietary web-based platform. Usability is at the heart of the experience. For example, charts open from nearly any view where live market prices or streaming bid/ask rates are shown. Other such shortcuts provide access to a trading ticket window.
Charting: The default charts within the platform feature some advanced functionality, such as the ability to add an alert on a specific indicator, with a total of 28 indicators available to choose from.
Platform layout: IG's default layout in its web-based platform is mostly empty, requiring the user to customize the platform without a default selection of pre-templated layouts to choose from.
Additional platforms: In addition to its web-based platform, IG offers the MetaTrader4 (MetaTrader) platform and its L2 Dealer platform where Forex Direct and Direct Market Access (DMA) are available for share trading.
ProRealTime charts: More advanced charting with nearly 100 indicators is provided by IG via the ProRealTime premium charting, which is available as a standalone Java application. ProRealTime costs £30 per month unless at least four trades are made during each calendar period.


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IG provides traders an excellent selection of quality market research from both in-house and third-party providers.
Content: On its trading platform, IG offers streaming news from Reuters and research in the form of an Economic Calendar, and streaming video content, all nicely organized across numerous categories. IG's research tools include a customizable screener for various asset classes including CFDs on global stocks, Forex, and cryptocurrencies.
Trading signals: IG also integrates AutoChartist and PIA First into its platform, allowing traders to view trade signals generated by automated pattern-recognition and technical analysis.
Dedicated blog: IG powers DailyFX, a blog-style news website that supports IG clients with educational and news content, as well as various research tools.


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Mobile Trading.
IG's mobile app ranks highly as the app comes packed with plenty of features that will satisfy both casual and picky traders.
Tools: IG's mobile app includes features such as alerts, sentiment readings, an economic calendar, and watch lists including detailed market information for each instrument all packed within a well-designed layout.
Charting: The charting function within IG's mobile app is loaded with 28 technical indicators and drawing tools. Any indicators added to a chart are automatically saved and reappear with each subsequent login and when switching symbols.
Research: In the IG Mobile app research is limited to news content and signals from AutoChartist which has been nicely integrated into the user experience.
Additional mobile app: MetaTrader is also available for traders who prefer the MetaTrader mobile app.


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Customer Service.
To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2019 Review, 229 customer service tests were conducted over six weeks.
Results.
Average Connection Time: (23 brokers) View Infographic.
Other Notes.
In 2017, IG launched Smart Portfolios as its first move into the managed investment space, as well as seven CFD cryptocurrency pairs including Bitcoin, Bitcoin Cash, and Ethereum.
In 2018, IG obtained a Forex Dealer Member license in the US, marking its major milestone for the year.
IG also offers exchange-traded securities (non-CFDs) for residents of the UK (read our IG UK share dealing review), Germany, and Australia to access international stock exchanges.
Final Thoughts.
Overall, retail Forex and CFD traders who want trusted access to nearly every market, including exchange-traded securities on multiple international exchanges, will find that IG is an easy winner.
IG also offers powerful research tools and competitive spreads, making it a market leader and our top broker in 2019.
About IG.
As an early pioneer in offering contracts for difference (CFDs) and spread betting, IG was founded in 1974 and has grown to be a global leader in the online trading industry. IG is a London-based public company listed on the London Stock Exchange's FTSE 250 (LON: IGG).
IG offers traders access to trade over 17,000 products across multiple asset classes, including Forex, CFDs on shares, indices, commodities, bonds, cryptocurrencies, and provides access to other global markets including exchange-traded shares through its regulated offerings. As of its Annual report for the financial year ending May 31st, 2019, IG services nearly 130,000 active clients globally, processing around 350,000 transactions each day, across its regulated entities in the UK and internationally.


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IG Trading Features.
Feature IG Virtual Trading (Demo) Yes Proprietary Platform Yes Desktop Platform (Windows) Yes Web Platform Yes Social Trading / Copy-Trading Yes MetaTrader 4 (MetaTrader) Yes MetaTrader 5 (MetaTrader) No cTrader No Charting - Indicators / Studies (Total) 28 Charting - Drawing Tools (Total) 17 Charting - Trade From Chart Yes Watchlists - Total Fields 12 Order Type - Trailing Stop Yes.
IG Research Features.
Feature IG Daily Market Commentary Yes Forex News (Top-Tier Sources) Yes Weekly Webinars Yes AutoChartist Yes Trading Central (Recognia) No Delkos Research No Social Sentiment - Currency Pairs Yes Economic Calendar Yes.
IG Mobile App Features.
Feature IG Android App Yes Apple iOS App Yes Trading - Forex Yes Trading - CFDs Yes Alerts - Basic Fields Yes Watch List Yes Watch List Syncing Yes Charting - Indicators / Studies 28 Charting - Draw Trend Lines Yes Charting - Trend Lines Moveable Yes Charting - Multiple Time Frames Yes Charting - Drawings Autosave Yes Forex Calendar Yes.
2019 Review Methodology.


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For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international Forex brokers over a six month time period. Each broker was graded on 81 different variables and, in total, over 60,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer.
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.