What are the features of IG forex trading?
Fast execution
IG guarantees the fast and reliable execution of all forex trades. Its systems are engineered to cope with a large number of trades in a short period of time, while its trading platforms are designed to cope with large volumes of traffic.
MetaTrader 4 supported
IG customers can trade forex via MetaTrader 4, the world’s most popular trading platform. You can also enjoy access to IG’s web-based trading platform, trading apps for iOS, Android and Windows devices and the L2 Dealer and ProRealTime platforms.
Compatible devices
In addition to downloadable software and its web-based platform, you can download the IG trading app to your Apple, Android or Windows smartphone or tablet.
Spread fee
IG offers competitive spreads across all currency pairs. AUD/USD has a minimum spread of 0.6 and an average spread of 0.76, while EUR/USD has a minimum spread of 0.6 and an average spread of 0.70.
Order types
Trading on one of IG’s core platforms allows you to use the following order types: limits, stops, guaranteed stops, trailing stops and market orders. An increased range of orders is available on the provider’s specialist trading platforms.
Leverage
The maximum leverage available when trading forex with IG is 200:1.
Minimum deposit
There is no minimum deposit required to open an account with IG.
Regulated in Australia
IG is regulated by the Australian Securities and Investment Commission (ASIC).
Payment methods available
The quickest way to deposit funds into your IG account is via debit or credit card (Visa or Mastercard), while BPAY is also an accepted payment method.
Forex volume rebate
If you trade more than 500 standard forex contracts per month, you could be eligible for IG’s forex volume rebate. The maximum rebate available is $1 per contract.
What support and information is available with IG forex trading?
If you ever have a question about your IG account or about a specific trade, 24-hour Australian customer support is available from Monday to Friday. Phone, email, live chat and Twitter customer support options are all offered. Alternatively, you can search IG’s extensive online help centre to see if your question has already been answered.
IG also offers a number of online educational resources and information to help you make better trading decisions. These include guides to forex trading, webinars and in-depth guides. There’s even an IG Academy app, available from Google Play or the Apple App Store, that provides engaging step-by-step courses that teach you how to trade.
What are the pros and cons of using IG forex trading?
Pros
24-hour customer support. IG offers customer support to its clients 24 hours a day, from Monday to Friday.
Flexible options. There are two ways to trade forex with IG: through forex CFDs and through the provider’s direct market access service.
Educational resources. If you’re new to forex trading or you simply want to increase your trading knowledge, IG offers an extensive range of educational resources.
Competitive spreads. With spreads starting from 0.6 pips, IG forex trading offers a competitively priced option for investors.
Cons
Complicated. Forex trading is complex and not suited to novice traders.
Low maximum leverage of 200:1. IG offers a relatively low maximum leverage of 200:1, whereas many other forex providers offer leverage of up to 500:1.
How do I apply for IG forex trading?
It’s completely free to open a forex trading account with IG. The online application process takes around five minutes and there is no obligation to fund your account or place any trades. You will need to:
Provide your name
Enter your email address
Create a username and password
Specify your country of residence
Specify whether you want to trade shares, CFDs or both
IG will work as quickly as possible to approve your application and once your account is open you can deposit funds and start trading.
Any more questions about IG forex trading?
How do I install MetaTrader 4 on my computer?
Download the set-up file from the IG website and then follow the instructions to complete the installation.
Can I open more than one trading account with IG?
No, this is not normally possible.
Does IG offer automated trading?
No, this feature is not compatible with its trading platform.
How can I withdraw funds from my account?
It’s free to withdraw money from your account by electronic funds transfer.