My opinion on the broker IG
Personally, I use IG Markets as CFDs broker after having tested 43 CFDs brokers (of which 26 did not pass the security of funds test, so it was quite fast)
This opinion is based on thousands of lots traded on IG Markets over some months.
Why I chose IG Markets ?
Here is a summary of my review on IG Markets :
- IG is an honest broker (listing on the official prices of futures and not revised "house" prices. No splittage after trading thousands of lots etc.),
- IG is the strongest broker financially of CFD brokers (listed in FTSE 250, with nearly 2 billion in market capitalisation, it can buy out some competitors in cash,...),
- IG Markets is a reliable broker (deposit account at the BNP Paribas separate from the broker, £50,000 guarantee per account, 1st CFD broker authorized by AMF...),
- IG is in 95% of cases the cheapest CFD broker, it has aggressive guaranteed spreads (the only one to offer an absolutely fixed spread regardless of volatility, guaranteed stop, 1 fixed spread on the Dax during the opening of the German Stock Exchange, 1 on the FTSE, 1 on the Cac 40, and not 0.7, 0.8, 0.9 as announced by other brokers and we are left with a spread of 1.5 95% of the time, and it explodes to 4 as soon as there is volatility and yes it is not fixed ^^).
- IG Market is the only broker to my knowledge to practice price improvement in our favour (Purchase Order at 5000, if in the meantime your order arrives on the markets and the price is at 4998 (if you trade via smartphone, it is slower than by adsl), you are executed at 4998 thereby gaining + 2 points compared to other brokers who will execute you at 5000.) See the picture on the IG Markets forum: IG Market Honest Broker
- IG has a great smartphone iphone ipad interface with prt integrated, free Prorealtime multistream from 4 lots traded in the month...
- IG Markets offers a share price at €10 for €100,000 being 0.01%. Yes you are not dreaming! You pay 0.10%, 0.25% to your broker? Sucker...
- IG is the only broker that offers mini lots 0.1, 0.25 etc. to take charge of the trading interface and fine-tune its live trading method at a cheaper cost for 6 weeks. This is ideal for beginners as it is better to take a blow at 0.1 lot than at 1 lot...
- IG allows you to take positions during sales and decline simultaneously (hedging) on the same instrument. This helps to optimize your investments, have a long position for example for swing trading while settling for scalping or day trading.
- IG Markets broker is the world leader of CFDs and major French brokers (Fortuneo, Bourse Direct etc.) offer CFDs via an IG white label (with extra costs of course and without smartphone interfaces and Prorealtime^^).
- IG Markets offers guaranteed stops, which is ideal if you want to do swing trading, no more fear of an unfavourable gap at the opening, plus no overnight risk 🙂
- IG Markets allows for transfers and free credit card deposits, a transfer request on Monday morning will reach my account at Société Générale the same day
There is however 1 hitch:
- IG's trading interface for placing orders is old-fashioned which contrasts a bit with ProRealTime (you can place orders directly on ProRealTime graphics if desired, but there again, I do not find this very practical) .