IG Forex Trading

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IG Forex Trading Review
IG

Product Name: IG Forex Trading

Product Description: Due to its size, IG offers some of the best liquidity for forex trading, meaning that smaller clients get tight pricing and high-volume forex traders won’t find it hard to execute larger orders. IG’s forex trading offering is one of the best around with a wide-ranging and competitive margin FX service across several dealing platforms which will comfortably meet most retail traders’ needs.

Summary

  • Forex pairs available: 51
  • Minimum deposit: £250
  • Account types: CFDs, spread betting, DMA, investing
  • Equity overnight financing: Tom Next +0.8%
  • Pricing: EURUSD 0.9, GBPUSD 0.6, USDJPY 0.9

 

You can trade forex as either a spread bet or CFD in the UK, and on the platform forex pairs are grouped by, major, minor, exotic and emerging crosses, which is rankable by the popularity of an FX pair.


Forex Signals

You can also hunt out upcoming trading signals, which are directly linked to a trading ticket (with corresponding stops and limits) for quick execution. These stops can be guaranteed stops (which will always be filled at your price no matter is the market gaps below) or trailing stops that move based on how profitable your position is).


Forex Options

You can trade forex options on a daily, weekly or quarterly basis for major pairs from £1 per point, if you want to take limited-risk forex positions. One of the lesser used but most helpful features through is the ability to trade forex when others can’t over the weekend. IG provides a weekend market for EURUSD, GBPUSD and USDJPY on Saturday and Sunday. Pricing is obviously wider, it does help provide some more control over your positions.


Forex Trading Platform

To trade an individual forex pair, the platform “workspace” gives a good overview with quick access to news, analysis, and integrated trading signals (from Autochartists and PIA). The market data page also gives some good indicators of IG client sentiment, how much a forex pair has been traded within the last hour and month, what excepted price ranges are and what volatility has been like.

IG Forex Trading

Pros

  • Excellent range of forex pairs
  • Good forex news, analysis and signals
  • Deep FX liquidity

Cons

  • No forex futures
  • Forex options only available as a CFD or spread bet
  • Pricing
    (4)
  • Market Access
    (5)
  • Online Platform
    (4.5)
  • Customer Service
    (4)
  • Research & Analysis
    (4)
Overall
4.3
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