IG Index Broker Review
IG Index are the Big Daddy of spread betting. The oldest and the biggest, the big name brand that so many people know and use. As such they have the most products, some of the best spreads, a great platform, and no end of education, research and analysis tools. There is always someone to speak to on the end of the phone but their sheer size may mean that you aren’t exactly special to them… Do you already have friends? Good, then IG Index may be a great shout.
IG Index Broker Review - Products and Spreads
The market leader by quite some way in the total number of markets they offer. The only company to have all of our 10 random basket products, including Bitcoin! If it is possible to spread bet it, then you can spread bet it on IG Index. It is not just the breadth of products but also the depth - they have US equities, sure, but they also have US equities that trade 24 hours a day, not just during market hours - why not! In some areas they may not be -quite- as deep as CMC, for instance only offering 5 tradeable coffee products rather than 7! But you can’t go far wrong.
When it comes to spreads IG Index clearly do not want to be beaten. They are super-competitive across pretty much everything. In our live tests their aggregated FX score was second only to Core Spreads (whose entire business model is based on being the cheapest) and overall they only came second to DF Markets (thanks to some ridiculously low spreads on Indices by the latter). Suffice to say that you will be happy with your spreads on IG and it is very very unlikely that you will be getting mugged off on any particular product.
IG Index Broker Review - Interface and Platforms
IG Index offer every platform you could want - CFDs, MT4, Binary Options (if you like that sort of thing) etc etc. They have recently even opened a basic share dealing platform. You won’t be missing out with IG Index!
On top of that, they have just launched a brand new front end, currently only available for Spread Betting clients [Feb ‘17], but presumably being rolled out to CFD clients in due course. This has eliminated the lag that slowed charts down (for me at least) to an intolerable level. It is a vast improvement in my eyes. You have every toy imaginable on the platform, and paid accounts get free access to the Autochartist charting software to give you even more analytical power.
The new front end is super modern, clean, easy to use, navigable even with the thousands of products on offer, and very powerful. It’ll give almost anything else in the industry a run for its money.
IG Index Broker Review - Service
Not exactly personal. I got a call after opening my account but it wasn’t really of the ‘I will be your account manager’ type. There is a ‘new accounts’ team that will call you and send you a confirmation email, but I suspect that unless you deposit the big-money you won’t get a lovely warm feeling from them. Having said that, if you call them then you do get an individual if you would like to speak to them, so they do value you, you just have to be a bit needy to find that out.
On the other hand. There will be many, many, many people opening accounts who would much rather not be getting calls from an ‘account manager’ who they suspect is really there to try and get you to deposit / trade more… Being left alone to get on with things as you see fit will appeal to a lot of you reading this, I am sure.
IG Index Broker Review - Safety
As safe as houses as they say. If this lot go under with your cash then there are bigger problems at play. They have been around since 1974 and have as good a pedigree as anyone in this sector. Fully FCA regulated, of course, they are also London Stock Exchange listed, which is comforting at the very least. Frankly, your money is as safe with IG Index as it is possible to be when deposited with a broker.
Andrew Saks-Mcleod of Finance Feeds comment: “IG Group is a mainstay among London's retail electronic trading sector. With revenues of £427 million per year, the company is well capitalized for a retail firm.”
IG Index Broker Review - Conclusion
If like a sure thing, if you value pedigree, safety and solid business operation above all else then you won’t go wrong here. Equally, if you are attracted by tight spreads and the widest possible variety of products to trade then IG Index is a good bet. For some, their platform may not tickle their eyeballs sufficiently for something they might spend many, many hours staring at. CMC, ETX Capital or City Index might have a slight advantage in this area, or not as your preference has it. But in terms of functionality they are up there with the best of them.
If you go with IG Index no one could say you have made a bad choice.