IG Markets Review
User Rating: 8
Overnight Financing Costs: LIBOR +/-2.5%
DMA: Yes
Key Spreads and Commissions and Margin Requirements:
FTSE100 Daily: Spread: 1 (6)* Margin Requirement: 25Dow Jones Daily: Spread: 2 (4)* Margin Requirement: 50
UK Shares Rolling Daily: Spread: 0.20% Margin Requirement: 10%
EU Shares Rolling Daily: Spread: 0.20% Margin Requirement: 10%
US Shares Rolling Daily: Spread: 0.20% Margin Requirement: 10%
* - Spreads in brackets indicate 'out of market hours' spreads.
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About IG Markets
When it comes to CFD brokers bordering on the celebrity, IG Markets is perhaps one of just a few names that spring to mind. The brainchild of Stuart Wheeler, the British banker responsible for starting the financial spread betting revolution, IG Markets has an inherently strong market position as a true pioneer of the brokerage industry. This translates modern day into a functional, low cost, effective brokerage platform through which a growing number of traders are choosing to do their CFD business.
Notable Benefits
The first thing that strikes about IG Markets is the sheer range of CFD markets it has to offer. As you would expect from any first rate CFD broker, the usual markets are present and correct with slim, competitive spreads making for cost effective trading. But for those looking to adopt a more far-reaching trading strategy, or for those that simply demand more opportunities for diversification, the sheer range of CFD markets available makes for a more than satisfying trading experience.
While the markets on offer are varied and many, they are all priced competitively, with slim spreads across the board keeping trading costs to a minimum and helping trading profits increase. This is all too important in choosing a CFD broker, and especially for more active traders, taking account of the ongoing costs of trading is as important, if not more important, than any headline incentive amount.
For more advanced traders, DMA access is available, allowing orders to be placed in the markets directly for exchange traded CFDs, allowing more discerning investors to squeeze the best price and terms for their specific trading requirements. Whether you're trading DMA or otherwise with IG Markets, all CFD traders benefit from a free subscription to Autochartist, one of the leading technical analysis packages available on the market. This helps make the process of researching potential opportunities easier and a whole lot more intuitive and palatable than with competing products, and is a real bonus for any trader considering IG Markets as their broker.
Incentives & Bonuses
The most obvious incentive for traders signing up to IG Markets is access to the Autochartist package, worth $49 a month, for no additional charge. Autochartist is free to IG Index traders, and is an ongoing benefit of signing up with the industry giant IG. Aside from the advanced technical analysis made possible by Autochartist's industry leading software, IG Markets traders benefit from low trading costs and spreads, while gaining access to one of the most diverse CFD brokerage platforms available.
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IG Markets Customer Reviews
There are 1 customer review(s).
Review by damian on 2009-06-10
Rating: 5IG are not your friends
Remember with IG is that you are also betting against their prop desk. If you give a limit order - IG will almost always trade at that price. Regardless of what the maket is doing. If you leave them an order they will sell at the lowest price and buy at the highest price (not that they do really - its just the price they tell you they trade at - in reality they lock in a profit using the optionality your order has given them). If you dont give a limit - IG have traded at 5% -10% above the maximum market price. If you give a stop loss and if it is triggered by an outlyer transaction - IG will transfer the position to themselves if they believe that the price was abnormalluy low - so that they can sell at a profit (they will tell that they dont - but they do). But will pass on any further price impact if the prop desk then makes a loss.