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Crypto Trading IG Review Australia 2021

Our latest IG review Australia takes you behind the curtain of this prominent online broker. With an exciting mobile trading platform and special offers for new customers, it’s hard not to take a peek.

Our IG crypto review takes you through all the possibilities with trading crypto CFDs and how best to leverage your position as you take on online crypto trading. With a variety of trading products on offer and provides you with access to real-time market data coupled with innovative trading tools.

Pros & Cons of IG
  • Diverse trading products on offer
  • A promising platform for CFD trading
  • Highly-informative demo account option
  • Top mobile trading app capabilities
  • Customer service has experienced issues
Company
CompanyIG Group Holdings Plc.
Headquarter25 Dowgate Hill ,LONDON ,United Kingdom
Year of Founding2001
CEOPeter Hetherington
Web Sitewww.ig.com
Available Languages-
Customer Support
Email[email protected]
Phone+ 44 20 78960011
Licence220440
ASIC - Australian Securities and Investments Commission
Verified by-
Payment Methods
Show More

Security, Usability, Look & Feel - Our IG review Australia

From our first impression of the IG crypto Australia site, we couldn’t help but feel that the platform left something to be desired. With the ever-changing colour of the background, it becomes less easy to focus on the information in front of you. Once you adjust, you’ll find that the actual layout and features, which is more important than the design and colour scheme, is rather intuitive. You can navigate between the main sections of the IG crypto trading platform with maximum ease.

93/100
Rating
eToro Highlights
  • Great for novice traders
  • A variety of trading options
  • Established in 2006
Go to eToro

From a past perspective, our IG crypto review found no evidence of maladministration, nor did our IG review 2021 find any news of hackers having hacked the platform. This is good news as one of the biggest concerns on any crypto platform is general site security and the ability of an online broker to protect individual accounts.

How To Trade Crypto On IG

When it comes down to going about trading IG Bitcoin or trying your hand at trading the latest IF cryptocurrency, you’ll want to know how best to do so. First off, you’ll need to create a valid account. You’ll have the choice of creating a demo account or a live account. For those who wish to test out the platform first, we recommend you try the demo account. However, the following step-by-step guide for opening and account and starting to trade IF crypto is based on the live account option.

Step 1. Click on “Create account” and click on “Create a personal account”. You’ll then find a new page pop up with the registration process right in front of you. Choose your country of residence and proceed.

Step 2. Fill in your contact details, personal info, finances, level of experience, and choose an account option. If you wish to trade IG crypto, be sure to choose a CFD account.

Step 3. Once you have verified your account, you can make a deposit and start to enjoy IG crypto trading.

In order to trade crypto on IG, you’ll need to understand how the markets work and how to go about executing orders. All you need to do on the IG crypto trading platform is decide on the IG cryptocurrency you wish to trade in and open the deal ticket. You’ll then be able to view current buy and sell prices. You can then decide the size of your position and even put in stops and limits to limit your exposure.

Company
CompanyIG Group Holdings Plc.
Headquarter25 Dowgate Hill ,LONDON ,United Kingdom
Year of Founding2001
CEOPeter Hetherington
Web Sitewww.ig.com
Available Languages
Customer Support
Email[email protected]
Phone+ 44 20 78960011
Licence220440
ASIC - Australian Securities and Investments Commission
Verified by
Payment Methods
Show More

Payments - IG Crypto Review Of The Payment Options

Any online broker worth its weight in gold will provide customers with a number of different payment methods, enabling people to fund their accounts with the least amount of hassle. Our crypto trading coverage is always looking into making your trading experience as seamless as possible.

When it comes to making deposits, our IG review 2021 found there to be several payment methods at your disposal. From using your bank card (Visa or Mastercard) to BPAY, bank transfer or PayPal, it’s possible to make easy deposits. The minimum amount you can deposit when using a card is $450 while the maximum you can deposit is capped at $50,000 per day. If you use bank transfer, you’ll be able to exceed the max limit.

We were unable to find out anything about IG crypto review withdrawals. The official site states that it is necessary to log in to your personal account and visit the payment section for a complete overview. Prior to making a deposit or requesting a withdrawal, you’ll find all the available information you need.

Customer Service - IG Cryptocurrency Customer Support

Our latest IG review 2021 has delved into the customer service of IG crypto trading. When it comes to the top cryptocurrency brokers , they continuously receive high praise for their ability to resolve issues pertaining to their customers.

Online trading is fast-paced and due to the nature of any one platform, or any external elements, traders may experience technical difficulties or general issues. This can also extend to personal funds. As such, you’ll want to ensure that our IG review makes it clear that IG crypto trading has what it takes to attend to your needs at any time. Use the live chat function for speedy responses without having to send an email or get on the telephone.

The customer service team is available all week, round the clock, except for on Saturday between 9am – 7pm. Other than this, you should expect unfettered access to the support staff. New clients can reach IG crypto Australia on 1800 601 799 or by emailing [email protected]

There is also an in-depth FAQ section which should be your first port of call. For the most part, you’ll be able to answer your own queries by reading through the relevant FAQ section.

License & Security Of IG Crypto Australia

The latest section in our IG review Australia has to do with the security that the site has put into place and the licenses it possesses to provide online financial services. You’ll find that IG holds an Australian Financial Services License. This is a clear indication that IG is licensed to offer such services in line with regulatory laws and stipulations. IG crypto Australia is safe and can be used with the knowledge that the company implements fair trading rules and adheres to transparent practices.

ASIC - Australian Securities and Investments Commission
FCA - Financial Conduct Authority
CFTC - Commodity Futures Trading Commission
MAS - Monetary Authority of Singapore
JFSA - Financial Service Agency (Japan)
+ 2

From a security point of view, the platform is securely monitored 24/7. As importantly, the site is encrypted using Secure Sockets Layer technology, which encrypts all data and information stored on the site. This is good news as you don’t want your personal details being openly available. You’ll find the same in our latest Plus500 review.

Reputation & Customer Feedback In Our IG Review

Truth be told, we found a batch of very mixed IG crypto Australia reviews. This might not bode well for the online broker as many customers do prefer to read what others have experienced before signing up and using services. Our IG review 2021 found that the platform was rather comprehensive in scale and manages to facilitate high trade volumes.

According to customers who have previously used the site, many pointed to the inefficient customer service. Others found that the service was reliable though. Thus, it is difficult to take many customer reviews at face value. The best way to test out a site, especially if you are unsure, is by using the demo account. Our FPMarkets review also outlines the effectiveness of utilising a demo account to find out firsthand how the site performs.

IG Crypto

Cryptocurrencies - IG crypto trading

Our IG crypto review is primarily interested in what the platform has to offer in the way of crypto trading. As trading in crypto continues to garner interest across the globe, many online brokers have gone to great lengths to include crypto trading on their sites. Our IG review Australia found this platform to be no different.

93/100
Rating
eToro Highlights
  • Great for novice traders
  • A variety of trading options
  • Established in 2006
Go to eToro

You’ll have the option of trading ten of the most popular cryptocurrencies. Although this might seem like a relatively small selection, our IG review Australia does recommend this site for crypto trading as it does it well. IG is a regulated FTSE 250 company and has the necessary know-how to provide a quality trading experience.

Bitcoin, Ether, Litecoin, Ripple, Bitcoin Cash, Stellar (XLM), NEO, and EOS are the digital currencies that can be traded as CFDs. You can also make use of the Crypto Top 10 Index for a complete overview and statistical breakdown.

Fees - Some fees associated with IG crypto trading

When it comes to online commission rates, you’ll find that these rates vary depending on the market you trade in. For Australian shares of 3+ trades, you’ll pay a commission of $5/0.05%per trade. For trades of less than 3, you’ll pay a commission rate of $8/0.01%. Whichever amount is higher, is the amount you’ll pay. Trading in international shares from countries such as the US, UK, Germany, and Ireland will not incur any commission. Added to which, you may well pay a quarterly $50 subscription fee depending on your overall trading activity in that quarter.

For crypto trading, you’ll find a host of fees that vary depending on the crypto you trade in or hold a position overnight. Fees for long positions held overnight will incur a fee of anything between 0.0556% for Bitcoin to 0.0764% for other cryptos. If you are short, you’ll pay an overnight funding charge of 0.0139% for Bitcoin, for Ether/Bitcoin cash you’ll incur a fee of 0.0208%, while all other cryptocurrencies you’ll receive a fee of 0.0347%.

Jurisdictions and Limits - What limits did we find in our IG review?

You’ll find that IG trading is limited in its scope in terms of offerings in a variety of countries. However, as an Australian resident, you will have no issues gaining access to international exchanges on the IG platform. Keep in mind that you will have access to the top 10 Crypto Index, but will not be able to trade in the lesser-known or more obscure cryptocurrencies that are coming to the fore.

93/100
Rating
eToro Highlights
  • Great for novice traders
  • A variety of trading options
  • Established in 2006
Go to eToro

IG  focuses on CFD trading and this is what you’ll receive if you decide to use the IG platform. However, there’s access to major global indices and if CFD trading is for you, we recommend IG online broker.

Other Trading - More than just IG crypto trading available

In terms of other trading options, our IG review Australia is pleased to inform you that you’ll have access to a number of trading products. This includes markets for Forex, Indices, Shares, IPO trading, Commodity trading, and more. Experienced traders can also delve into weekend trading markets; just remember there is no support on Saturdays between the hours of 9 am and 7 pm. Volatility trading can also be accessed and provide exciting markets that move extremely quickly. There are over 17,000 markets with very tight spreads. Using the latest risk management tools will help you traverse these volatile markets with more confidence.

However, the biggest fixture on the IG platform is CFD trading. As you’ve realised, crypto trading falls under this market and you can find a wide selection of CFDs from different markets in which to speculate. It’s best to take a cautious approach instead of opening yourself up to a lot of exposure from the get-go. But, if you are a professional trader, you’ll know what is within the confines of your trading ability.

93/100
Rating
eToro Highlights
  • Great for novice traders
  • A variety of trading options
  • Established in 2006
Go to eToro

Overall Conclusion - A decent platform for novice traders

In conclusion, our IG crypto review has found that, although the site provides traders with a number of trading products, the crypto CFD trading options lack depth. You’ll have a deep liquidity pool at your disposal, but not to the extent that other top online brokers can offer. We believe that the trading platform functions well and you’ll be able to utilise a host of avant-garde tools.

If IG can improve their customer service, it is only logical to assume that this site will attract more satisfied traders. What follows would be an expansion of available crypto trading pairs and the ability to trade on a wider scale with lower spreads. For now, IG is a good platform for novice traders looking to break into the online trading world. At TradersBest.com, we’re always a step ahead. If IG isn’t for you, head over to our latest coverage of exciting online brokers by reading our eToro review and XM.com review.

Alternatively, head over to an online broker whose been turning heads by reading our FX Open review.

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