IG Review 2021
Latest IG Review update: 15th July 2021
IG Markets is part of the IG Group, which can trace its roots back to 1974. Initially, IG was formed to trade gold and since its inception, the company has grown to open 17 branches in countries to serve 136,000 clients across the globe. As of May 2015, IG remained as a prestigious FTSE 250 company in the UK with a market capitalization of £2.9 billion.
They operate in the Australian market via its subsidiary, IG Markets Limited (ABN 84 099 019 851 and AFSL 220440), and also in New Zealand, they have a derivatives issue licence by FSP No.18923.
IG’s Australian operations are strictly regulated by the Australian Securities and Investment Commission (ASIC).
IG Markets Limited operates from its office Melbourne located at Level 15 of 55 Collins Street in Victoria.
IG Markets offers an innovative online trading platform for binary options traders in Australia. The fully cloud-based trading platform can be accessed from any modern browser and users do not need to download any additional software to access their binary options trading account.
Besides binary options, users can also access all the 10,000+ trading instruments offered by IG markets on its platform.
In addition to the cloud-based trading platform, they also offer mobile apps that can be used by users to place trades via their brokerage account.
They provide real time streaming price quotes on its online trading platform, where users can apply basic functional technical analysis to improve their chance of winning.
Types of Accounts
IG keeps it simple by offering a single trading account to all of its users. With the single account, IG users can gain access to all of the trading instruments offered by the firm.
They basically offer two types of binary options trading, traditional binaries and the newly launched Sprint markets that offer super-fast trades spanning from one minute to an hour.
The main difference between these two types of options products is that with IG Binaries, users can close the order before expiry, but with Sprint markets, they can’t close any open positions.
Moreover, this platform offers a range of trading types including, One-touch, Ladder, Tunnel, Hi-Lo, Target, Up/Down, where the Sprint markets have only one type of trading available.
Assets Offered by IG for Trading
IG.com.au has included a range of assets, including Forex, stock indices, commodities, and Bitcoin. However, their binary options portfolio for Forex pairs only offers AUD/JPY, AUD/USD, EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/CAD, USD/CHF, and USD/JPY pairs.
Binary options traders can also trade several indices including FTSE, GERMANY 30, and Wall St on the platform. Under Binaries hourly, IG offers the Aus Index, FTSE, and Japan 225 for trading as well.
It appeared that They offer more indices for binary trading than Forex pairs.
Minimum Deposit Requirements, Offered Bonuses/Promotions
IG Markets has a minimum deposit of AU$200 to fund a newly opened account, but they do not impose any inactivity fee for the first two years.
They are currently running a refer a friend campaign where users can earn up to $100 for referring each new client to the company. The best thing about this campaign is that if you refer a friend, they will also get a $100 bonus in their account.
IG.com has no fixed payout ratio. Each trading asset and timeframe of the trade will dictate the potential payout. The best thing about IG’s trading platform is that when you pick an asset to trade and decide on the time frame the submit button will include the total potential payout for the trade. This way, users can know about the exact payout ratio of the trade before placing any orders.
Deposit and Withdrawal Methods
This company a very limited funding and withdrawal options for Australian clients compared to some of its local and international competitors. Currently, they only accept Visa and MasterCard credit and debit cards, and BPAY.
For funding via a credit card, users are charged a 1.5% fee, but that goes down to only 0.5% for Visa Debit Cards. They do not charge any fee for accounts funded with a MasterCard Debit Card. Moreover, BPAY funding option is free.
However, international clients can fund their accounts via bank wire transfers to IG’s Westpac Bank account.
IG offers several channels for providing customer support. You can reach their customer support desk at email@example.com and if you already have an account with them, you can directly call them at +61 (3) 9860 1734.
In addition to phone and email, They also offer Live Chat support on their website and Twitter users can reach IG at the Twitter handle @IGHelpAU.
IG Markets review: Summary
Since expanding its operations in Australia, they have earned its reputation for offering quality financial trading products not only in Australia but also to surrounding geographic markets, including New Zealand, China and South-East Asia.
With IG Markets, Australian citizens now have a domestic option to trade binary options and they can be assured that the ASIC will look after their investments. International binary options investors can also fully rely on the highly regulated financial industry in Australia and trade with peace of mind with IG’s binary options offerings.
Customer Reviews on IG
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A friend who lives in England recommended me IG. It's a very good broker with regulation in Australia and UK.
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