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IG Broker USA Review & Rating 2024

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IG is one of the most renowned forex brokers on the market, providing its services to over 178,000 clients worldwide.  Established in the UK in 1974, the platform is listed on the London Stock Exchange and backed by regulators including the Financial Conduct Authority, which lends credence to its impeccable track record and should reassure potential clients that IG is completely reliable. The following IG Broker review takes a closer look at what the platform has to offer, which instruments can be traded, and how the platform fares against the competition.

It should be noted at this point, however, that IG focuses almost exclusively on forex. Therefore, if you are interested in a more diverse portfolio, it might be a better idea to check out our Ninjatrader review or our Gain Capital USA review. What IG offers is a dedicated and professional forex trading platform. So if that’s your market, you’ll definitely want to read through the following online forex broker review.

Advantages and Disadvantages

As with any trading platform, IG Broker USA has its good points and bad. Below is a snapshot of the main advantages and disadvantages:

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Pros & Cons of IG Trader
  • Extremely well regulated
  • A good range of educational resources
  • Segregated client funds
  • No withdrawal fees
  • Limited trading options
ASIC - Australian Securities and Investments Commission
Accepts Customers from
Players from United States of America not accepted
IG Group Holdings Plc.
+ 44 20 78960011
Overall Rating
Rating follows
  • New Customer Offers
  • Usability
  • Available Account Types
  • Trading Platforms
  • Payments
  • Customer Service
  • Regulation & Deposit Insurance
No review posted yet.
User Rating
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1 Star
Last Updated on 09/05/2024

Usability of the Website

The first experience most users will have of a new platform will be its website. As such, this seems as good a place as any to kick off our IG Broker USA review.

First impressions are definitely positive. The site is extremely well laid out and even novice traders will have absolutely no issue in navigating their way around. The initial landing page has plenty of information on the company and trading in general, including access to some high-quality educational resources, completely free. It’s also easy to access the terms and conditions of the site, via the navigation links at the bottom of the page. Upon landing on the page, you’ll clearly see the options to create either a live account or a trial account in the main window. The IG Broker open account option can be also found at the top right-hand corner of a screen, along with the log-in form. From here you gain access to your account and the trading platforms.

When it comes to the design, our IG Broker review found the site to be eye-catching yet functional. It has a simple red and white color scheme with plenty of on-page graphics to accompany the text and convey information clearly and succinctly.

The website works seamlessly and our team found it to be fast and responsive. It has also been well optimized for mobile devices, meaning the IG Broker users will have no problems accessing their accounts while on the go. All in all, the IG Broker website is very well delivered and there are no standout issues that we found.


As our IG Broker review has already noted, the platform is primarily focused on the forex market and does not offer a full brokerage service per se. Therefore there isn’t a huge amount of choice when it comes to account types. There’s no getting around it, it would have been nice to see a few more options when it comes to opening an account, but as we shall see, the IG Broker open account does more than enough in itself.

One positive aspect noted by our IG Broker review, is that the platform allows you to dip your toes in the water by opening up a demo trading account. This allows novice users to check out all the features and try their hand at trading without risking any real money. Opening a demo account before an IG Broker open account gives you the chance to view all the trading pairs available as well as the numerous charts and analysis tools. The more advanced user also has the option of trying out the MetaTrader4 platform as part of the demo account. IG Broker gives you $10,000 in virtual funds to build some trading experience and get a feel for how the market moves.

Aside from the demo account, the other option is to sign up for a live IG Broker open account. You’ll need to put in a few more details when opening a live account – including your TIN or SSN number for verification purposes. You’ll also need to attach a payment method for making deposits. It’s also possible to set up a joint account, should you wish to do so.

Further to the two main trading accounts, it’s also possible to set up a profile and join the IG Academy, which is effectively a structured educational program offering plenty of info on the financial markets.

IG Broker USA Trading Platforms

Once you’re up-and-running with IG Broker USA, you’ll probably end up spending a fair bit of time with its trading platforms – so inevitably they also form an important part of our IG Broker review.

The option most novice traders will start with is IG Broker’s own proprietary web-based trading platform. This is a very well developed tool and despite being simpler than MT4, it offers a great selection of tools and metrics that will meet the needs of all but the top-level trading professionals. The interface is easily customizable by dragging and dropping to rearrange the windows and puts plenty of innovative tools at your fingertips. Most notably Autochartist and PIA First. The former is a market-leading charting tool that picks up market patterns and identifies trading opportunities. PIA First is an advanced technical analysis research tool. Our IG Broker review found the in-house trading platform to be intuitive and highly functional.

Whilst even advanced users might be happy using the IG’s platform, most professionals will opt for the other option: MetaTrader 4. Any experienced trader is likely to be familiar with the name already, as MT4 has long been the industry standard for top-level forex trading. As such, it features plenty of advanced tools and metrics to facilitate high volume trading. However, MT4 does have a fairly steep learning curve and it is very much geared towards the more experienced trader. Those who are new to the markets should start of with IG’s own platform.

In addition to MT4 and the web-based trading platform, IG Broker USA also offers a mobile app, which is available for both Android and IOS and offers a scaled-down version of the IG trading platform. Our review team was unable to explore all of the functions, but initial reactions were that most of the important functions and metrics offered on the web-based platform were present on the mobile app.


When you open an IG Broker USA then your base currency will, of course, be US dollars. You have several options when it comes to adding funds to your IG wallet:  debit card, Automated Clearing House (ACH) or wire transfer. You can add funds to both the IG platform and MT4 via your account. There is a minimum deposit of $250 when paying by debit card. Incidentally, there is also a maximum debit card deposit amount of $99,999. However, the website states that you can actually make larger deposits via wire transfer.  Payments made to the account via debit card happen within moments, whilst ACH and wire transfers can take 3 – 5 business days, depending on your bank.

When it comes to making withdrawals, our IG Broker review did not find details of any limits. However, the site states that funds will be returned to the same method you used to make a deposit. Corporate users should also note that you cannot add a business account to your IG account as these are considered 3rd party funding sources and are not permitted under the platform’s terms and conditions.

Withdrawals are processed immediately but again can take up to 5 business days to reach your account. The website also stipulates that you may be required to provide evidence of your deposit before a withdrawal can be actioned.

Customer Service

Even the most experienced trader can encounter issues or problems when using a new platform. As such, our IG Broker review investigated what customer support is offered by the platform as well as how easy it is for users to get answers to common queries.

IG Broker USA has a dedicated customer service team, based in Chicago. You can contact the office directly by telephone, 24 hours a day Monday – Friday. There is also a webchat feature that is manned during the same hours. If you happen to be outside of Illinois, or for some reason are unable to access the webchat (we found the feature wasn’t always available) then there is also the option to email IG Broker USA. Having sifted through numerous reviews, our IG Broker review found that opinions on the platform’s customer service were pretty positive and most users reported that they received a response to their email in 24 – 48 hours. Replies were direct and dealt with individual issues with due attention and care to detail. We didn’t encounter any obvious bot responses and the tone of all communications was professional and courteous.

It’s also possible to get help via the IG Broker social media channels – both Twitter and Facebook. Often these are a quicker way of getting in touch than email but are less suitable for more complex problems. You can also access the platform’s comprehensive FAQ section, where you’ll find answers to common queries relating to IG Broker open account usage and forex markets in general.

Regulation & Deposit Protection

As our IG Broker review has already noted, the platform has existed in Europe since 1974. So whilst it has only been offering forex brokerage in the US since 2018, IG already had some pretty stringent regulation – not least the UK’s Financial Conduct Authority, Germany’s Federal Financial Supervisory Authority and the Swiss Financial Market Supervisory Authority. Internationally, it is also subject to the Australian Securities and Investment Commission and the Bermuda Monetary Authority, among others. In short, the company already has some pretty impressive credentials and users can rest assured that the broker is completely legit. But what about here in the US?

IG US is registered as a Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a Forex Dealer Member of the National Futures Association (NFA). These are the top flight regulatory bodies Stateside and potential users can have complete peace of mind that IG complies with all the necessary regulations for a Forex broker. It’s also worth mentioning that IG also has other irons in the fire when it comes to the US forex market – the parent group also owns Nadex and Daily FX. Nadex opinions are generally pretty good – as are Daily FX – which can only boost IG US’s credentials.

Our IG Broker review USA was unable to find exact details of account verification, but the website states that the broker may ask you to provide documents to validate your identity, as well as proof of deposit, so it’s safe to assume there is a stringent KYC process in place behind the scenes. In addition, the website and trading platform also include the latest SSL encryption and DDoS protection.

Of course, aside from the impressive regulatory credentials, another way of verifying the firm’s track record for security and reliability is by checking out IG broker opinions in general. Most US users agree that the platform is extremely secure and well regulated with no reported breaches or violations.

Readers should note, however, that due to state-level legislation IG US accounts are not available to residents of Arizona or Ohio.

Additional Offers

As we have seen, IG Broker USA offers a reliable and highly regarded forex brokerage service. However, to some, this may seem a little basic –  after all, other platforms offer a more diverse service – if you’ve read our Cobra trading USA review, for example, you’ll know that it offers futures in addition to forex. So what else does IG USA have to offer?

We’ve already mentioned that IG provides a demo account, allowing you to try out all of its services without using real funds, but an often overlooked aspect of IG is its extensive education resources delivered via the IG Academy. This is a free-to-access learning experience separated into three tiers: beginner, intermediate and advanced. The courses start of with the basics, teaching newbie traders the market fundamentals. Initial courses include ‘Introducing the Financial Markets’, ‘How Does Trading Work?’ and ‘Trading Psychology’.

Each course is delivered via a framework of modules with a quiz at the end to test your knowledge. The modules are usually under ten minutes and feature a range of resources including text, video and charts. The later courses provide more challenging material, dealing with strategy and understanding risk. Our IG Broker review team was impressed by the educational materials on the site and found they worked well when used in conjunction with the demo account, which gives you the opportunity to apply your new learning in a risk-free environment.

The courses are easy to follow but provide genuine value to readers and go well beyond simple instructions for operating the platforms – they provide a solid grounding in the forex markets and even the most inexperienced trader will soon find themselves furnished with enough know-how to make a confident start.

IG Forex

Introduction to Forex Trading

As we have noted previously, the IG Broker open account is intended for traders looking to enter the world of forex. Whilst this may seem a limited offering, it does allow the platform to offer a more refined, specialist service, including its superb educational materials.

IG Broker USA supports more than 80 trading pairs, which are broken down into six categories: major pairs, minor pairs, Australasian, Scandinavian, Exotic, and Emerging Markets currencies. Most of the pairs include the US dollar, British Pound or Euro, but there are several options that don’t include either, such as CAD/JPY or CAD/JPY.

Trading Costs

IG Broker USA does not charge fees for trading, so inevitably this means that the platform profits from the spread. Spreads will differ depending on the currency pair being traded, but the minimum for the majors starts at 0.8 pips, and the average spread ranges between 0.9 (EUR/USD, USD/JPY) to 5.4 (GBP/CAD). Our review team noted that this is pretty average for the industry – not too high but there are lower spreads out there. There is also a fee charged for overnight trades, which again is fairly standard. Finally, there is a £12 inactivity fee if no trades are made for 24 months.

If you’d like to compare costs with an alternative broker account, check out the popular Merrill Edge Open Account.

Trading Conditions

Users with an IG Broker open account can use leverage for trading forex. The platform requirements allow traders to trade on a margin of up to 1:30, depending on the particulars of a given trade. IG puts out an initial warning call by email when accounts fall 99% below the required margin. A second email is sent when equity falls below 75% and the position will be automatically closed if the equity falls below 50% of the required margin.

Product Summary & Conclusion

The IG Broker open account offers a top-level forex trading service that will suit both novice traders and experienced professionals. The trading fees and conditions hardly stand out, but they are in line with the industry standards and the spreads are generally competitive. All in all, IG has delivered an excellent product for the US market and our review believes it will only improve as time goes on.

Our Interactive Brokers review, as well as our JP Morgan You Invest review, are also useful comparisons for traders looking to compare a variety of trading platforms.

Overall Conclusion

There are numerous options for trading financial instruments in the US and many of them will be familiar to experienced traders. Choosing a provider often comes down to personal taste and comparing IG Broker opinions to, say, Eagle FX opinions will often shine a light on the respective platforms’ strengths and weaknesses.  Whereas some platforms offer trading in a range of financial instruments, IG has chosen to focus exclusively on forex.

Of course, this means if you’re looking to trade stocks then you’ll have to go elsewhere, but if trading currency is your thing then IG is one of the best platforms on the market. Not only does it offer two trading platforms – one better suited to beginners and one for professional users, but there is also a wealth of educational material delivered via the IG academy. There is also a competent and professional customer service team based in the US, so help is always at hand if you need it.

If you’re still undecided, don’t forget that it’s also possible to open a demo version of the  IG Broker open account, which will allow you to try out all the features – including both trading platforms – without risking any real funds.

Our review team was impressed with IG Broker. There are other options out there, of course, but if you’re in the market for a forex trading platform then it is definitely worth checking out.

For more guides, be sure to take a look at our Ally Invest promotion and TD Ameritrade broker reviews.

Please note:

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.  69% 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

IG Broker Review FAQ

🇺🇸 Can I open an IG Broker account in the US?

If you’re an experienced trader, then you probably already know that the US has some of the strictest financial regulations in the world. This means that some of the biggest trading platforms and online brokers operating in Europe or Asia do not provide their services in America. If you’re interested in IG, then having a read through of our broker review will tell you exactly what services the platform does and does not offer in the USA as well as what sort of account you might be eligible to open.

💱 Is IG broker good for forex?

Some brokers offer trading in multiple financial instruments, whilst others specialize in a singular offering. There are pros and cons to both approaches – one being diversity whilst the other offers a more focused and in-depth service. Our experts took a thorough look at IG Broker and considered its standing in the industry. By reading our broker review, you’ll find out what services and features it offers and be able to decide for yourself whether it’s among the top forex brokers. Alternatively, if you’re interested in trading other financial instruments, then we can also make a few suggestions of some other top platforms.

🤔 How do I open an IG broker account?

Different brokers have different onboarding processes and, whilst they are often very similar, there are often differences in what details and proofs you have to provide and at what stage you have to provide them. For example, some platforms complete a thorough verification upon sign-up, whilst others verify when a withdrawal is requested. Things are further complicated by the fact that there are often multiple account types, such as demo accounts. Our IG Broker review takes an in-depth look at what account types the broker offers and how you can go about opening one.

🤓 Is there an IG broker demo account?

There’s no getting around it, forex trading can be extremely confusing to the uninitiated, with complex charts, numerous strategies, and a generally unpredictable market. As such, it can be very difficult for novice traders to get a foothold and even the most in-depth educational resources can only go so far. One of the best ways to get a feel for how things work is by opening a demo account. Our IG broker review will explain the account types available, as well as discussing how you can use the platform’s website and guides to learn more about forex trading.

❓Does IG operate in the US?

America’s financial regulations are notoriously strict and many of the biggest brokers in Europe and Asia avoid entering the market. However, an increasing number of prestigious firms are gaining regulatory approval for the US to offer a more global service. If you’re interested in IG, then it’s worth having a read through of our review to see what sort of presence the platform has in the US and whether or not it’s suitable for your trading requirements. 

User Reviews for IG

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Rating follows
  • Leverage trading available
  • Excellent education materials
  • More than 80 trading pairs
T&Cs apply, 18+
Rating follows
  • Excellent education materials
  • Top-tier web trading platform
  • Free and fast deposits and withdrawals
T&Cs apply, 18+
Rating follows
  • Excellent education materials
  • Top-tier web trading platform
  • Free and fast deposits and withdrawals
T&Cs apply, 18+
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Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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