CFD Broker Summary
IG Markets has offered its services by giving traders access to the CFD markets since 2001. IG was one of the first companies to offer CFD trading and its consistent business practices has allowed the company to reach its high level of status as the number one provider of CFD trading products. Being one of the most reputable and well known trading companies in the world (even so far as being listed on the FTSE 250 stock exchange) the main question for new traders is whether or not its offerings live up to the hype. Here we will analyze the company’s main components.
Trading Markets Offered
IG Markets establishes itself as an industry leader, as the company offers one of the most diverse asset varieties in the CFD trading industry. IG has 9 different types of asset instruments offered, and CFD traders can choose to focus on forex, commodities, stock indices or individual shares, commodities, volatility, DMA equities, interest rates, bonds or ETFs. One of the more interesting categories is the ETFs section, which enables CFD traders to access more than 200 different choices and gain exposure to some of the markets that are typically more difficult to access. IG Markets offers one of the most diverse set of tradable assets, in their attempt to cater to a wider variety of investors.
The platform that is used by IG clients is a propriety web based program, called Pure Deal, which is a very well known and widely testing software program. The application can be used on the iPad or other mobile devices and is designed to set the industry standard in efficiency, security and accurate pricing. In addition to this, IG offers the L2 Dealing platform, which is a downloadable program that is meant to be an enhancement on the efficacy of the company’s trade execution. This platform is also called the PureDMA platform, and is meant to provide direct market access in to the order books of the global stock exchanges.
IG offers free seminars to its clients, where new traders can ask specific questions before entering into real money positions. This is something that is not widely available amongst the competition and will be seen as a key benefit for inexperienced traders. These seminars are also recorded and stored on video so that these sessions can be accessed at a later date. IG also offers a “refer a friend” which offers a £1 payment for each new trading member introduced to the platform.
The strongest aspect of the IG Markets product offering is the in depth range of educational tools that is made available to trading clients. Additionally, the IG analyst experts keep updated market analysis during each trading session. These updates focus on individual asset classes, relating to forex, stocks or commodities. Research articles are offered regularly, helping individual traders understand what is happening to make the market move. Analysis is offered in either text or video form and is both technical and fundamental in nature.
IG markets offers a comprehensive charting package free as part of its trading platform. More than 70 indicators are available and the platform also allows traders to add their own custom versions. Market alerts can be set so that traders are aware when certain market conditions are in effect and entire portfolios can be tracked using their open trades feature. One area that many brokers have not yet offered is the ability to back test technical analysis strategies, and IG has this in place as one of its advanced features. On the whole, IG leaves little to be desired as their charts offer essentially all of the features that are seen in competitor packages.
Site Strengths/ Weaknesses
Site strengths are numerous and include an efficient platform a wide range of markets and a reputable brand with an excellent track record. Also, flexible funding plans are in place, which allow for traders to deposit any dollar amount (there are no funding limits) and this can ensure that traders are never risking more money than they can afford. The educational offerings are also a major strength, as this area in unmatched by nearly every other major CFD broker. Weaknesses can be seen in the lack of promotional offerings available to new traders and in the cases where trading costs are higher than average.
IG Markets is an established leader in the CFD broker industry and achieves all the aspects of reliable broker with an excellent track record. Traders are offered an excellent charting package, a reliable trading platform and educational tools tailored to different investor styles. Overall, there is not much that can be said to discourage traders from choosing IG markets as their CFD broker.