Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
- Good Money Guide experts highlight that IG DMA Trading offers direct market access primarily for equities, allowing trading of DMA shares as CFDs. While the platform provides a wide range of equity DMA CFDs and level-2 pricing, it lacks access to futures and options, which may limit some traders' strategies. The introduction of the IG Pro account allows experienced investors to bypass certain regulatory restrictions, but it comes with increased risks and reduced protections.
- Across 746 user reviews on Good Money Guide, averaging 4/5, customers frequently commend the platform's ease of use, reliability, and comprehensive range of products. Many users appreciate the seamless integration of various investment options, including crypto, and highlight the platform's strong educational resources. However, some users express concerns about occasional technical issues and the need for improved execution speed during high-demand periods.
IG DMA Trading Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.- Pricing4.0
- Market Access4.0
- Online Platform4.0
- Customer Service4.0
- Research & Analysis4.0
Pros
- Wide range of equity DMA CFDs
- Voice brokerage
- DMA & level-2 pricing
Cons
- No futures and options
See full expert review
Our verdict
IG’s L2 Dealer lets you trade on over 12,000 shares and 80 forex pairs against multiple liquidity venues, including primary exchanges, multilateral trading facilities (MTFs), dedicated market makers and dark pools.
70% of retail investor accounts lose money when trading CFDs and spread bets with this provider.
Is IG a DMA broker with a professional trading account?
You can trade DMA with IG, but they only offer direct market access to equities. You can trade DMA shares with IG via IG markets as a CFD, but you cannot trade on exchange futures and options. If you want DMA access to futures exchanges, you will need a futures broker like Saxo or Interactive Brokers.
When the new ESMA rules came into place, IG Pro was introduced as one of a number of accounts which help investors get around new European restrictions on trading, but is it worth the risk?
In 2020 European restrictions had financial spread betting companies finding new ways to keep the revenue coming in. IG Group's approach was to introduce its IG Pro account which allows experienced and professional investors to continue trading financial spreads.
It is a way to get around the rules, but it does not come without risk. So, before choosing an IG Pro Account, you need to be clear about what you’re letting yourself in for.
Going Pro
By opening an IG Pro account, you will not be subject to the ESMA’s restrictions and can continue trading these products as before. In order to do so, you’ll have to be able to answer ‘yes’ to these questions:
- Have you traded leveraged derivatives in significant quantities over the past four quarters?
- Do you have a portfolio size of more than €500 Euros?
- Have you worked in the financial sector, in a professional position requiring a knowledge of the derivatives trading for at least a year?
The rules are there to try and ensure the only people trading in these high-risk instruments are those who understand the risks they are taking. If you do qualify, you will continue trading many of these restricted products such as the Digital 100s, use up to 95% of your share collateral as margin and secure a higher margin on your trades thanks to the greater flexibility this offers. In addition, the account means you will be eligible for a range of additional features open only to professional investors.
Now come the downsides. When you use the professional platform, you forego some of the protections which are normally open to professional clients. There will be no negative balance protection – losses can exceed the balance in your account, and the platform may not go out of its way to use clear and easy to understand language. It will assume a certain level of professionalism on your part and expect you to understand sophisticated terminology. They may also prioritise factors such as speed and likelihood of execution over the best price.
This is something to come into with your eyes open. It allows you continue trading restricted products and to get around new regulations. At the same time, though, this is only a platform for someone who really knows what they are doing and is prepared to accept the risk.
Customer reviews for IG
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 746 reviews
- Excellent38%
- Very good36%
- Basic18%
- Poor5%
- Bad3%
Read customer reviews
Very good platform. No means...
Very good platform. No means of comparison with others.
Expensive does not put customer...
Expensive does not put customer first
Decent value
Decent value
Good
Good
Good platform, easy to use
Good platform, easy to use
Very intuitive platform - easy...
Very intuitive platform - easy to use
Not good customer service
Not good customer service
excellent
excellent
good
good
No comment
No comment
Easy to use and good...
Easy to use and good coverage of stocks / indicies / currencies to trade
Comprehensive and easy to use
Comprehensive and easy to use
great choice of markets, easy...
great choice of markets, easy to use but quite expensive
Ok
Ok
Excellent
Excellent
Good all round
Good all round
Inconsistent and not particularly helpful
Inconsistent and not particularly helpful
Very good multi-account trading -...
Very good multi-account trading - Shares, ISA and Spread
No View
No View
Excellent educational material and tools...
Excellent educational material and tools available.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
