IG is one of Australia's leading retail forex providers with a range of flexible trading features.
Online trading platform IG provides a fast, simple and convenient way to buy and sell currency pairs on global forex markets. With fast trade execution, tight spreads and access to more than 50 currency pairs, IG offers a range of flexible features to suit both beginner and experienced traders.
Established in 1974 as IG Index, IG now has offices across 15 countries and more than 150,000 clients worldwide. In the Investment Trends November 2015 FX Report, IG was ranked as Australia’s number one retail forex provider in terms of primary relationships.
There are two ways to access forex markets with IG: forex CFDs and Forex Direct, the provider’s direct market access service. Forex CFDs allow you to trade using leverage and don’t require you to pay a commission to open a position. Forex Direct is designed for experienced traders and allows you to buy and sell currency pairs without the spread.
What are the features of IG forex trading?
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.
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.
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.
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.
The maximum leverage available when trading forex with IG is 200:1.
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.
Trade cryptocurrency with IG
Trading cryptocurrency futures can be attractive. You don’t need your own wallet, and you can also profit by shorting cryptocurrencies ahead of dropping value, instead of just buying with the expectation of price increases.
You can leverage your position with a 20% margin requirement on bitcoin and Ethereum, and 40% on Bitcoin Cash.
What are the pros and cons of using IG forex trading?
- 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.
- 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.