Well-established and trusted global broker offering access to over 17,000 markets and 104 FX pairs.
When it comes to choosing a trading platform, you want to make sure to go with one that has stood the test of time.
With more than 45 years of history, a listing on the London Stock Exchange, several regulatory approvals from top-tier jurisdictions around the world, and multiple awards, IG stands out for its strong track record.
Well-established entities can often be intimidating, even opaque to newcomers, but IG takes a newbie-frendly approach with free demo accounts, and a rich library of tools and research from both in-house teams and third-party analysts.
With more than 17,000 markets and 104 FX pairs, there’s no doubt that IG offers one of the largest selections of CFDs and forex trades (FX) on the market.
- Pros & cons of IG
- Reasons to invest using IG
- Who should use IG?
- Pricing, charges and fees
- IG promotions
- How to set up an account
- Comparison: IG vs City Index vs Tiger Brokers vs IBKR vs TD Ameritrade
What you can invest in: CFDs and FX
Minimum balance required: $0
Deposit fees: 2.3% on credit or debit card transactions, $30 per cheque, free for bank transfers, FAST and PayNow
Withdrawal fees: None
Withdrawal limits: Min. withdrawal is $200 or total account balance, whichever is lower. Max. withdrawal is $35,000 per transaction to cards, no cap for bank transfers.
Commission: None for CFDs and FX trades. Commission charged only on equity CFDs, min. of $10 per open/close.
Inactivity fee: $25 per month after 24 months of continued account non-activity
Licence: Authorised by Monetary Authority of Singapore (MAS), and many others globally
Here are the pros and cons of investing using IG:
|One of the largest platforms with access to more than 17,000 markets worldwide||Only CFDs and FX, not for risk-averse and inexperienced traders|
|Low fees and competitive spreads||2.3% deposit fee for credit and debit cards, VISA and Mastercard only, $30 fee for cheque deposits|
|No min. deposit needed to start account||High inactivity fee of $25/month after 24 months of non-activity|
|No deposit fees for bank transfers, FAST and PayNow||Commission charge of min. $10 per open/close for equity CFDs|
|No withdrawal fees, no cap on withdrawal to bank account|
|Award-winning mobile app|
|In-depth research and education tools|
Why should you trade with IG?
#1: One of the largest trading platform with well-established history and trust
With over 17,000 markets and 104 FX pairs, IG is one of the largest retail trading platforms in the world. This means that no matter what CFDs (even crypto) or FX pair you’re looking to trade you’ll likely find it in your dashboard (barring trades disallowed by law).
IG was established in 1974, which gives it a 46-year history that has been polished through a track record of safety and reliability, garnering approval from several top-tier regulatory bodies around the world. Listed on the London stock exchange, IG consistently ranks top in trust scores from several review sites.
If trustworthiness is important to you as an investor, IG should be top of your list
#2: Low commissions, competitive spreads, few fees to watch
Another of IG’s strong points is its low trading costs. Spreads are competitive (as low as 0.1 for Singapore Blue Chip), while equityCFDs have a minimum of $10 per open and close.
In terms of service fees, there are relatively few items to track (and even then these are levied by banks and other parties): 2.3% transaction fee for VISA or Mastercard card deposits, $30 cheque clearing fees and telegraphic transfer (T.T.) fees.
The only fee from IG’s side is the inactivity fee of $25 per month after 24 months of non-activity, if you maintain a balance in your trading account. (inactive accounts with no balances will be closed)
#3: Award-winning, user-friendly trading platforms
While everyone claims their trading app or platform is the best, IG backs up this up with multiple industry awards.
Earned between 2018 and 2020, IG counts at least five awards from entities like Investment Trends, gmb, FX.Markets and Influential Brands.
Users routinely praise IG’s trading app and platforms for being innovative, clear, user-friendly, easy to use, and fast.
#4: Newbie-friendly environment
CFDs and FX aren’t exactly newbie friendly, given the potential for accumulating a high amount of losses in a short period of time. It is noteworthy then, that, IG tries its best to help inexperienced traders take to the water.
For a start, there are zero fees for signing up, and no minimum account balance to maintain. Every account also comes with a complimentary demo account so you can get some practice under your belt before committing money to the real thing.
There is also a wide range of research and education from both its in-house team and respected third-party analysts, allowing you to build your own skills, knowledge and theories as you go along.
For whom is IG best suited?
With its long-established history, competitive fees and spreads, and one of the largest selections of CFDs and FX trades in the world, IG is a retail trading platform giant offering unfettered market access, a high degree of trustworthiness and low trading costs to users.
It is well suited for traders who would rather stick to a singular platform, instead of jumping between multiple platforms to access the markets they desire.
What charges or fees should you look out for?
Spreads will apply for most trades, so be sure to check them before you commit. Share or equity CFDs will attract commission fees, which are applied on both open and close, subject to a minimum of $10 each time.
As for fees, be aware of bank fees levied on deposits made via credit cards, cheques and T.T. There’s also a $25 monthly fee charged if you maintain a balance after 24 months of non-activity.
What are the promotions available for IG?
There are currently no promotions available for opening an IG trading account. We’ll update this space with the necessary details if new promotions become available.
How do you open and fund your IG account?
Opening an account with IG
- FIll up and submit the application form here.
- Click ‘Yes, continue with MyInfo’ if applicable for quicker account opening.
- If you do not have MyInfo, you’ll be asked to upload relevant documents after sending in your application.
- Follow the on-screen prompts to open your account
Opening a demo account with IG
Your demo account is automatically created when you apply for a live account on IG, using the steps above.
You can practice unlimited trades on your demo account, and switch to live trading when you’re ready.
Funding your IG account
You may fund your account using any of the following methods:
|Funding method||Crediting lead time||Fees|
|Bank transfer (FAST) or Corporate PayNow (UEN)||0 to 1 business day||None|
|Bill payment||Next business day||None|
|Telegraphic Transfer (T.T.)||Domestic – 1 business day|
Foreign – 2 to 3 business days
|Bank and intermediary charges may apply|
|Credit or debit card (VISA/Mastercard only)||Immediate||2.3%, levied by card processor. Further fees may apply.|
|Cheques||2 to 3 business days||$30 per cheque|
IG vs City Index vs Tiger Brokers vs IBKR vs TD Ameritrade
|Brokerage Platform||IG||City Index||Tiger Brokers||Interactive Brokers (IBKR)||TD Ameritrade|
|Commission fee||$10 minimum for equity CFDs per open/close||0.08% or $10 minimum for Singapore CFDs||SGX stocks: 0.08%, min. $2.88 per order is currently waived |
US stocks: USD$0.01, min. USD$1.99 per trade
|SGX stocks: 0.08% of trade value, min. $2.50 per order |
US stocks: USD$0.005 per share, min. USD$1 per order
|$0 (for US exchange-listed stocks, ETFs and option trades)|
|Maintenance fee||N/A||N/A||N/A||Up to US$10 per month (less commission paid that month)||N/A|
|Promotion||N/A||Get $288 or $888 cash bonus and 12-month Wall Street Journal subscription (worth $480) with new sign up|
Get $150 cash upon approval of Accredited Investor status
|5 commission-free trades, stock vouchers and free market data for US stocks||N/A||Zero commission for US exchange-listed stocks, ETFs and option trades only|
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By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.