IG Review

Online brokers allow individuals to buy and sell securities, such as stocks, bonds, and mutual funds, over the internet. They typically offer a wide range of investment options and tools, such as market research and trading platforms, to help customers make informed decisions.

The IG group was started in 1974 after the Bretton Woods system was dissolved in 1973. The company emerged as one of the best spread betting companies in a short time and is now considered the #1 CFD trading firm worldwide. The company provides trading in financial derivatives such as contracts for difference (CFDs) and spread betting and, since 2014, it offers stockbroking to retail traders.

Overview of Popular Online Brokers

Investing through an online broker can offer several benefits that make it a convenient and cost-effective option for many investors. With online brokers, individuals can access and manage their investment portfolios from anywhere with an internet connection, making it possible to manage your investments on the go, regardless of location. Let’s take a quick look at some of the popular online brokers.

Etrade

Etrade offers a wide range of investment products and services, including online trading of stocks, options, ETFs, mutual funds, bonds, and other securities.

1. Brokerage Fees: For trading stocks, options, and ETFs, Etrade charges $0 per trade for its online and mobile trading platforms, with a per-contract fee of $0.65 for options trades. The brokerage fees for other types of trades can differ depending on the size.
2. Types of Accounts Offered: Etrade offers a variety of account types, including Individual/Joint Accounts, Retirement Accounts (traditional and Roth IRA, SEP, Simple IRA, Rollover IRA), Trust Accounts, Custodial Accounts, Business Accounts, and Education Savings Accounts (Coverdell ESA).
3. Range of Investment Opportunities: Etrade offers many investment opportunities, including stocks, options, ETFs, mutual funds, bonds, and more.
4. Overall Ratings: Etrade receives an overall rating of 4.3/5.

J.P. Morgan

JPMorgan Chase & Co. (J.P. Morgan) offers online brokerage services through its subsidiary, J.P. Morgan Securities LLC. The brokerage arm of J.P. Morgan offers a wide range of investment products and services, including online trading of stocks, options, mutual funds, ETFs, and other securities.

1. Brokerage Fees: J.P. Morgan charges various fees for its brokerage services, including account maintenance fees, trading commissions, and fees for certain services such as account transfers and paper statements. The fees may vary depending on the type of account, type of trades, and amount of assets you have.
2. Types of Accounts Offered: J.P. Morgan offers a variety of account types, including Individual Accounts, Joint Accounts, and Trust Accounts.
3. Range of Investment Opportunities: The company provides its clients investment opportunities in stocks, bonds, mutual funds, exchange-traded funds (ETFs), and options. They also offer access to alternative investments such as private equity, hedge funds, and real estate.
4. Overall Ratings: J.P Morgan receives an overall rating of 4.5/5.

IG

IG (IG Group Holdings plc) is a British multinational online trading company that provides services for retail traders to trade financial derivatives such as contracts for difference (CFDs) and spread betting.

1. Brokerage Fees

The firm charges $0 in commissions on stocks listed on the US stock exchange. On options trade, a contract fee of $0.65 is applied, while a $6.95 is charged for stocks not listed on the US exchange.

2. Types of Accounts Offered

IG offers a variety of account types for retail and professional traders, including a standard retail trading account, a professional trading account and a corporate account.

3. Range of Investment Opportunities

On IG, you can trade on different options, including forex, stock, index, commodity, cryptocurrency, and ETF.

4. Overall Ratings

IG receives an overall rating of 4.7/5 from real time users on the platform.
Now that you have an in-depth knowledge of some of the brokerage firms, let’s take a detailed look at one of the online brokerage firm IG.

An In-Depth Review of IG

IG Group is a well-established online brokerage firm that offers trading in various financial markets, including forex, shares, indices, commodities, options, and more. The company has been in business for over 40 years and is regulated by several financial authorities, such as the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. Let’s take an in-depth look at some of its features, the account types it offers, the fees it charges, and other details related to the brokerage firm.

Account Types

The account types that IG offers can be categorized into two major categories.

Leveraged Accounts

1. Spread Betting

A spread betting account with IG allows you to trade on the price movements of various financial markets, including forex, shares, indices, commodities, and options.

2. CFD Accounts

With a CFD account, customers can trade on rising and falling markets of different options and use leverage to magnify their potential profits or losses.

Non-Leveraged Accounts

1. Share Dealing

A non-leveraged share dealing account with IG allows you to buy and sell shares in companies listed on stock exchanges without using leverage. Different company shares are available on the platform, and you are charged brokerage commissions depending on the share you trade.

2. Stocks and Shares

The account type enables you to invest and trade in up to a certain amount per tax period in shares, ETFs, and ETCs without paying taxes on profits.

3. IG Smart Portfolio

An IG Smart Portfolio account is a algorithmic advisory service offered by IG that allows customers to invest in a diversified portfolio of exchange-traded funds (ETFs) based on their risk appetite and investment goals.

Investment Options

IG offers a wide range of trading and investment options to anyone who is interested in investing. Programs like iProgram Profile, IG Wealth portfolio, and IG climate action portfolio are great examples of how IG is offering its clients diverse investment options from which clients can choose.

For professional traders, IG Group offers a wide range of investment options, including:

1. Forex

IG offers trading in various currency pairs, including major, minor, and exotic currencies.

2. Shares

IG allows the trading of thousands of individual shares from major stock exchanges worldwide, such as NYSE, NASDAQ, and LSE. The firm complies with the regulatory bodies’ protocols to ensure clients can invest securely.

3. Indices

IG offers trading in various indices, including major stock market indices such as the S&P 500 and the FTSE 100.

4. Commodities and Options

IG allows trading in a wide range of commodities, including gold, silver, oil, and natural gas. You can also speculate on the future price of an underlying asset through IG options trade.

5. ETFs

With IG, you can trade in exchange-traded funds (ETFs) — a basket of securities that trade like a single stock.

6. IG Smart Portfolio

An automated Robo-advisory service that allows customers to invest in a diversified portfolio of exchange-traded funds (ETFs) based on their risk appetite and investment goals.

Tools Offered

IG Group offers a wide range of trading tools to help customers analyze markets, make informed trading decisions and manage their positions. Let’s take a look at some of the tools that IG offers.

1. Research and Analysis

When trading on IG, you get a wide range of research and analysis tools to stay informed about the markets, including real-time news, market analysis, and an economic calendar.

2. Charting and Technical Analysis

IG offers a variety of charting and technical analysis tools, such as customizable indicators, trend lines, and technical studies.

3. Risk Management Tools

IG provides a range of risk management tools, such as guaranteed stop-loss orders, which can help customers limit their potential losses.

4. Client Portal

IG’s client portal allows customers to manage their accounts, view their portfolios, and check their transaction history.

Research Resources

IG Group offers a wide range of research and educational resources to help customers stay informed about the markets and make informed trading decisions. This includes market research and data, new events, written and in-picture information and data, and on-time market alerts.

Fees

The brokerage fees for trading with IG depends on the instrument being traded and the type of account you have with the company. For example, the fees for forex trades may differ from those for stock trades. That said, the firm charges a standard percentage of 0.5% per trade.

Mobile App Availability

IG’s mobile application also comes with a variety of features for traders to access and manage their accounts on the go. Some of these features include:

• Live quotes and charts for various financial instruments.
• The ability to place trades and manage open positions.
• Easy to use trade modifications and stop limits on orders.
• Real-time alerts and notifications.
• Access to research, news, and analysis.
• The ability to deposit and withdraw funds.
• The ability to access IG Academy for educational materials.
• Support for push notifications.
• Excellent ability to customize the mobile layout according to user’s preference.
• Option to set price alerts and watchlists.
• It gives you the option to access the trading history.

With IG mobile application, traders can use a wide range of options to enhance their trading experience. The mobile application does not lack any of the features available in the web application.

Customer Service

IG provides a variety of ways to get in touch with customer support, such as phone, email, and live chat. It also has a comprehensive FAQ section on its website. IG offers support in multiple languages and has dedicated support teams for specific regions and products.

Wrap Up

IG is a multi-featured online brokerage firm that provides advanced trading options to its users. The unique feature of this brokerage is the amount of leverage it allows the traders and advanced trading tools that can be used for spread betting and CFD trading. IG is a strong broker to consider if you want to dedicate time to technical chart analysis.

Here are some of the pros and cons of using IG as a brokerage firm:

Conclusion

Online brokers can bring a lot of conveniences for trading in a wide range of options. At the same time, they allow you to remain aware of the current market situations from your account. That said, choosing the right online broker is important, depending on the options you are willing to invest in. When it comes to CFD trading and Spread Betting, IG has a strong standing in the market.