IG Index CFD Broker Review
IG Index CDF Broker Review - Overview
The biggest CFD provider in the world. The holder of the largest B Book in the world. The oldest and biggest; IG Index is the elder-statesman of CFD broking. They are the market leader and the big name brand that so many people know and use. They are often the starting point for traders until they find a specific thing they need and niche down with a different broker. Great spreads, bajillions of tradeable products, excellent front end...the list of reasons to trade with IG Index is long. The customer service is great, if a little impersonal due to their size, and you are very unlikely to hear stories of malpractice or fraud. FCA regulated, London Stock Exchange Listed and headquartered in London with decades of best-practice in their history, no one will think you daft for choosing IG Index for your CFD trading.
IG Index CDF Broker Review - Products and Spreads
IG Index offer, by far, the most comprehensive set of products available to trade, and at pretty good spreads too. If it is CFD tradeable, then you can probably trade it with IG Index. They had all 10 of our random basket of goods, including Bitcoin, and there is no real area where they are weak. If you have ever been frustrated by not being able to trade the product that you want with your current broker, then switching to IG Index would most likely prevent that from ever happening again.
For spreads, IG Index are extremely good as well. Holding the largest B Book in the world gives IG Index a large enough client base that they do not need to charge a premium in the spread. They don’t have stupidly low, or erroneously high, spreads on any given product, but they are very low across the board. You may be able to find an individual broker who has a lower spread on any given product, but you won’t one that is as consistently low on basically every market.
IG Index CDF Broker Review - Interface and Platforms
IG Index’s web based platform is clean, clear, very easy to navigate and has stood the test of ages. There is nothing it won’t do and there is nothing it won’t tell you, but it just isn’t as good as some rivals and has some major problems with lag. However - IG have just launched a new platform for their spread betting customers and it is to be hoped that they will soon make this available to CFD traders. As of Feb 2017 that is not the case.
In addition to their proprietary front end, you can use Autochartist powered pattern-recognition software for free, which adds some serious spice to your analytics.
The lag problem with loading charts is a serious one. Anyone who has grown up in the instant-gratification generation, or indeed anyone who values speed in their trading, will start plotting bloody murder while that loading bar ticks along. In truth, it is like 2 seconds, but that is 2 seconds longer than I want to wait!
With an MT4 option available as well, if you just want access to the widest possible range of markets, with the best possible spreads and want to use MT4 to do your trading, then IG Index is basically a no-brainer!talk
IG Index CDF Broker Review - Service
Being the broking behemoth that they are, IG Index aren’t really into promoting the personal account manager angle. I suspect that they realise that most traders with a few thousand dollars in their account don’t want a bunch of calls pressurising them into depositing more through the passive aggressive ‘is there anything I can help you with’ line of questioning. If you need to call someone then, of course, there is always someone available, but they don’t make a habit of calling you in my experience.
IG Index CDF Broker Review - Safety
Founded in 1974, IG Index are about as safe as it is possible to be. If you deposit your money with IG Index then, having weathered numerous storms safely in the preceding decades, it is unlikely that now is the time they would fall to pieces. Fully FCA regulated and London Stock Exchange listed, they offer the trappings of safety with the reality of a long pedigree to boot.
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 CDF Broker Review - Conclusion
Large product offering, tight spreads, strong regulation, good front end and an obvious market-leader - if you choose IG Index to be your CFD trading broker, then no one will tell you that you have made a foolish decision. Some people won’t like the vast nature of IG Index and may look for the personal touch that you get with a smaller outfit. Equally, until the new front end is available for CFD accounts as well as Spread Betting, they are a long way off having the best front end in the pack, but if you want to use MT4 anyway then they really are an obvious choice.
The main point here is that whatever it is that you are looking for in a broker, it is likely that IG Index do it and do it well. Some brokers outshine them in certain areas, but for sheer size, reliability and all-round performance, they are tough to beat.