IG Review
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 NGN
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
IG Review – 17 key points quick overview:
- ✅ Regulation and Safety of Funds
- ✅ Account Types and Features
- ✅ Account Registration
- IG Vs FXTM Vs AvaTrade – Broker Comparison
- Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- IG Education and Research
- IG Affiliate Program
- IG Social Responsibility
- Verdict on IG
- IG Pros and Cons
- Frequently Asked Questions
IG Overview
👉 IG is the oldest forex and CFD broker with the longest history in providing excellent trading solutions and conditions to traders around the world. IG has an impressive trust score of 99% and offers Nigerian traders over 17,000 tradable markets.
👉 As the world’s first spread betting organization, IG (IG) was established in 1974 by Stuart Wheeler as part of IG Holdings Plc, a publicly listed company (LSE: IGG). IG is a reputable entity that enables knowledgeable, decisive, adventurous individuals to tap opportunities in the financial markets.
👉 IG has a global presence and while the broker does not have offices in Nigeria or regulation through the Central Bank of Nigeria (CBN), IG is one of the best brokers that welcomes Nigerian traders.
👉 With over 313,300 customers on five continents, a wide range of products, low fees, and a solid track record in the sector, it is no surprise that IG is a worldwide leader in online trading and the leading supplier of more than 17,000 tradable instruments spread across many asset classes.
👉 This IG review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders with IG is as follows:
➡️️ United Kingdom – 20.7%
➡️️ United States – 10.4%
➡️️ Poland – 9.1%
➡️️ South Africa – 7.6%
➡️️ India – 6.7%
Popularity among traders who choose IG
🥇 While IG does not dominate the forex and CFD market in Nigeria, the broker falls within the Top 20 brokers for Nigerian traders.
IG At a Glance
| 🏛 Headquartered | London, United Kingdom |
| 🏢 Nigerian Based Office | No |
| ✔️ Accepts Nigerian Traders? | Yes |
| 📊 Year Founded | 1974 |
| 📞 Nigerian Office Contact Number | None |
| 📲 Social Trading Platforms | • LinkedIn • YouTube |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 💯 License Number | • United Kingdom (IG Markets Ltd) – 195355 • United Kingdom (IG Index Ltd) – 114059 • Germany – 10148759 • Cyprus (BrightPool Ltd) – 378/19 • Switzerland – FINMA Dubai – F001780 • Dubai DIFC – 1840 • South Africa – 41393 • Singapore – 200510021K • Japan – FSA • Australia – ABN 84 099 019 851, AFSL 220440 • New Zealand – FSP18923 • United States – NFA ID 0509630 • Bermuda (IG • International Limited) – 54814 |
| ⚖️ CBN Regulation | None |
| 🤝 Regional Restrictions | None |
| ☪️ Islamic Account | Yes, Dubai traders only |
| 📊 Demo Account | Yes |
| 📈 Retail Investor Accounts | 8+ |
| ✔️ PAMM Accounts | Yes |
| 📈 Liquidity Providers | Several Tier-1 partnerships, banks, and others |
| 💵 Affiliate Program | Yes |
| ✔️ Order Execution | Market |
| ✔️ Execution Venues | From 0.1 pips DMA |
| 📊 Average spread | Variable, from 0.0 pips EUR/USD |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Unknown |
| ✔️ Crypto trading offered? | Yes |
| ✔️ Offers an NGN Account? | No |
| 🤝 Dedicated Nigerian Account Manager? | No |
| 📈 Maximum Leverage | 1:200 |
| 📊 Leverage Restrictions for Nigeria? | No |
| 💵 Minimum Deposit (₦) | 103,000 Nigerian Naira equivalent to $250 |
| ✔️ Nigerian Naira Deposits Allowed? | No |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| 🤝 Active Nigerian-based IG customers | Unknown |
| 💰 Nigeria Daily Forex Turnover | $1.3 million |
| 💵 Deposit and Withdrawal Options | • Visa • Mastercard • POLi • Bank transfer • Bpay • PayPal • Neteller • Skrill • Union Pay |
| 💳 Segregated Accounts with Nigerian Banks? | No |
| 💻 Trading Platforms | • MetaTrader 4 • IG Platform • ProRealTime (PRT) • L2 Dealer • FIX API |
| ✔️Tradable Assets | • Forex • Indices • Shares • Commodities • Cryptocurrencies • Futures • Options |
| 💵 Offers USD/NGN currency pair? | No |
| 📊 USD/NGN Average Spread | N/A |
| 📈 Offers Nigerian Stocks and CFDs | None |
| 📊 Languages supported on Website | English |
| 🤝 Customer Support Languages | Multilingual |
| 📞 Customer Service Hours | 24/7 |
| 👥 Nigerian-based customer support? | No |
| 💰 Bonuses and Promotions for Nigerians | None |
| 📚 Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | Yes |
| 📈 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️ Is IG a safe broker for Nigerians? | Yes |
| 📈 Rating for IG Nigeria | 9/10 |
| ✔️ Trust score for IG Nigeria | 99% |
| 👉 Open An Account | 👉 Open Account |
Regulation and Safety of Funds
IG is well-regulated by FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, and BMA operates through several global entities.
In the United Kingdom IG Markets Limited (IGM) and IG Index Limited (IGI), both established in England and Wales, are independently regulated by the Financial Conduct Authority (FCA) as investment businesses under license numbers 195355 and 114059, respectively.
IGM and IGI may act as principals or agents and execute orders for a variety of derivatives and securities within the rules of their respective licenses. Professional and retail customers may also benefit from IGM’s discretionary management services.
IG Europe GmbH (IGE) is regulated by the BaFin (10148759) and the Deutsche Bundesbank in Germany. This license allows IGE to provide a direct service to our customers throughout the European Union.
BrightPool Limited is a Cyprus Securities and Exchange Commission-authorized and regulated investment business (CySEC) under 378/19. As such, it works as a market maker for many asset classes, providing investing and associated services.
Securities broker-dealer IG Bank SA (IGB) is registered with the Swiss Financial Market Supervisory Authority (FINMA). If IG Bank SA maintains its license, the broker can continue trading:
➡️ Bilateral non-tradable contracts for difference (CFDs)
➡️ A variety of custom derivatives on the underlying markets for currency exchange
➡️ Stocks
➡️ Indices
➡️ Precious metals
➡️ Commodities
Dubai Financial Services Authority (DFSA) authorized IG Limited, based in Dubai, to organize investment agreements and directly deal in investments as a principal under F001780 and DIFC 1840.
A branch of IG Markets South Africa Limited, which is based in England and Wales, is regulated by the Financial Sector Conduct Authority (FSCA) and is licensed as an approved financial services provider in South Africa under FSP41393.
This regulation and authorization give the IG Markets the ability to provide non-automated advising and (execution-only) services on a wide range of derivatives contracts.
The Monetary Authority of Singapore (MAS) oversees, authorizes and regulated IG Asia Pte Ltd (IGA) under license number 200510021K. As a licensed capital markets service provider, it may trade in over-the-counter derivatives contracts on a wide range of marketplaces under the Securities and Futures Act.
IG Securities Ltd is regulated and authorized by the Japanese Financial Services Agency (JFSA) in terms of:
➡️ Currencies
➡️ Securities
➡️ Ministry of Economy Trade and Industry (METI)
➡️ Hard Commodities
➡️ Ministry of Agriculture, Forestry and Fisheries (AFF)
➡️ Soft Commodities
IGM is regulated by the Australian Securities and Investments Commission (ASIC) in Australia under ABN 84099019851. In addition, IGM also operates under a verified Australian Financial Services Licence (AFSL 220440).
In addition, IGM is regulated in New Zealand by the Financial Markets Authority (FMA) under a derivative issuers licence (FSP18923), which covers a wide range of derivative contracts.
With the Commodity Futures Trading Commission (CFTC), IG US LLC (IG US) is a licensed retail foreign exchange dealer and an introducing broker. In addition, IG US LLC is an active and verified member of the National Futures Association under NFA ID 0509630.
On an execution-only basis, IG US can provide rolling spot FX and options. Residents of Arizona and Ohio may not be able to open an account with it.
Incorporated in Bermuda, the Bermuda Monetary Authority grants IG International Limited (IG INT) permission to carry out investing and digital asset activity under license 54814.
IG INT is licensed to provide CFDs on a wide variety of asset classes, including cryptocurrencies, to retail customers on an execution-only basis per its licenses.
As a retail customer of IG, Nigerian traders’ client funds are safeguarded in a variety of ways. With an IG account, Nigerian clients can be certain that their money is safe and secure since it is housed in segregated accounts with top tier banks around the world under strict trustee arrangements.
Subsequently, IG cannot reclaim any funds that are deposited. It also implies that IG and its associated creditors do not have any charge, claim, or right of set-off or retention over it because it is recognized as client money.
Segregated bank accounts are held in high-quality institutions like Barclays and Lloyds. To guarantee that customer funds are not held in one location, they have made it a point to spread them out over a variety of institutions.
Account Types and Features
IG operates across the globe and offers different trading accounts according to the trader’s country of residence, as follows:
➡️ United Kingdom Accounts
➡️ European Accounts (excluding UK and Switzerland)
➡️ Australian Accounts
➡️ Switzerland, South Africa, Singapore, and New Zealand Accounts
➡️ Dubai Accounts
➡️ Japan Accounts
➡️ US (IG) Accounts
➡️ USA (NADEX) Accounts
With IG, there is a 103,000 Nigerian Naira ($250) deposit requirement for new traders to get started. Depending on the traded financial item, traders may choose from several spreads. These can be split down into the following parts:
➡️ Forex – 0.6 pips EUR/USD with an average spread of 0.75 pips
➡️ Forex – DMA spread of 0.1 pips
➡️ Indices – from 0.4 pips on the FTSE 100
➡️ Commodities – from 0.3 pips
➡️ Cryptocurrency – from 0.2 pips on Stellar
➡️ Futures – from 0.6 pips
➡️ Interest Rates – from 1 pip
➡️ Bonds – from 1 pip
EU and UK share commissions start at 0.10%, while US share commissions start at $0.2. An analysis of individual account features on the IG website does not include an exact description of the types of accounts available, but the sections below can be used by Nigerian traders as a guideline.
Live Trading Accounts
United Kingdom Accounts
UK residents can choose between an IG Trading Account and an IG Professional Account. The features on these account types include:
➡️ Negative balance protection on retail accounts
➡️ Access to spread betting, CFDs, and Share Dealing
➡️ Access to more than 17,000 markets
European Accounts (excluding UK and Switzerland)
➡️ Traders have a choice between IG Trading Account, IG Professional Account, IG Options Trading Account, and IG turbo24 Trading Account
➡️ Negative balance protection is applied to retail accounts
➡️ Traders can participate in CFDs, Barriers, Vanilla Options, and Turbo Warrants along with access to the full range of markets
Australian Accounts
➡️ Traders can choose between IG Trading Account, Limited Risk Account, and Share Dealing Account
➡️ Negative balance protection is only applied to the IG Trading Account
➡️ Traders can choose from various CFD instruments including Options, Digital 100s, and Share Dealing
➡️ Traders have access to the overall suite of 17,000 markets
Switzerland, South Africa, Singapore, and New Zealand Accounts
➡️ Traders can choose between an IG Trading Account and a Limited Risk Account
➡️ Negative balance protection is applied to the IG Trading Account
To sign up for an IG account, there is no charge other than the minimum deposit. IG will only charge Nigerian traders for the spread or a small commission fee on shares transactions after traders have funded the trading account and begun trading.
A margin payment (from 0.5% to EUR/USD) is required to secure a low minimum contract price for new customers. There is a lot of flexibility here since traders only need to invest a fraction of what they typically would.
Dubai Accounts
➡️ A choice between an IG Trading Account, Limited Risk Account and Swap Free Account
➡️ Negative balance protection is added to the IG Trading Account
➡️ Traders have access to all CFDs, Options, and the Digital 100s
➡️ Dubai traders have access to more than 10,000 instruments through IG
Japan Accounts
➡️ Traders can choose between the IG Trading Account and Limited Risk Account, with negative balance protection which is applied to the IG Trading Account
➡️ Traders can participate in CFD trading along with Options and Digital 100s
➡️ Japanese traders can trade over 10,000 financial instruments through IG
US (IG) Accounts
US Traders can expect:
➡️ Access to the IG Trading Account
➡️ Negative balance protection
➡️ Access to forex trading
➡️ More than 80 forex pairs including major, minor, and exotic pairs
USA (NADEX) Accounts
IG provides the following options under the Nadex account:
➡️ Access to an Exchange Account
➡️ Exchange-traded binaries
➡️ A range of markets is spread across 10,000 contracts
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and IG offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
To comply with Sharia Law, IG allows traders in Dubai to convert their live trading accounts into Islamic accounts, which eliminates any interest payments.
Account Registration
It is easy to sign up for an IG trading account; just follow the registration instructions on the IG website and send in the digital application form to the broker. If Nigerian traders are registered on either Facebook or Google can easily sign up for an IG account, allowing them to obtain access to the demo trading account and the trading account management area.
Traders can follow these steps to register for an account:
➡️ Traders can click on “Create Live Account” in the top right corner of IG’s official website.
➡️ An online application form will load, and traders can complete the form.
➡️ Traders can verify the email address they provided by clicking on the embedded link when they receive the verification email.
➡️ Traders can complete the KYC process by submitting documents to verify their identity and proof of residence.
➡️ Traders can complete a questionnaire to determine their trading experience.
➡️ Once the account is approved, Nigerian traders can make the minimum deposit and start trading.
How To Register Your Account
👉 Step 1 – Go to the Official Website
➡️ Go to the IG website (https://www.ig.com/) and click on “Create Live Account”.
👉 Step 2 – Fill Out Your Personal Details
➡️ Fill out your personal information such as your email address, create a username and password for your account, and fill out your country of residence. Follow the next steps to complete your profile.
IG Vs FXTM Vs AvaTrade – Broker Comparison
| IG | FXTM | AvaTrade | |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA | CySEC, FSCA, FCA, FSC Mauritius | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| 📱 Trading Platform | • MetaTrader 4 • IG Platform • ProRealTime (PRT) • L2 Dealer • FIX API | • MetaTrader 4 • MetaTrader 5 • FXTM Trader | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade |
| 💰 Withdrawal Fee | No | Yes | No |
| 📈 Demo Account | Yes | Yes | Yes |
| 📊 Min Deposit | 103,000 NGN | 10,000 NGN | 41,500 NGN |
| 💰 Leverage | 1:200 | 1:2000 | 1:400 |
| 💳 Spread | From 0.1 pips DMA | 0.0 pips | Fixed, from 0.9 pips |
| ✴️ Commissions | From AU$7 | From $3 to $3.5 | $3 to $4 |
| 💳 Margin Call/Stop-Out | 100%/50% | • 60%/40% • 80%/50% | 25%/10% |
| 📊 Order Execution | Market | Market/Instant | Instant |
| 💰 No-Deposit Bonus | No | No | No |
| 💰 Cent Accounts | No | No | No |
| 📊 Account Types | • United Kingdom Accounts • European Accounts (excluding UK and Switzerland) • Australian Accounts • Switzerland, South Africa, Singapore, and • New Zealand Accounts • Dubai Accounts • Japan Accounts • US (IG) Accounts • USA (NADEX) Accounts | • Micro Account • Advantage Account • Advantage Plus Account | • Standard Live Account • Professional Account Option |
| ⚖️ CBN Regulation | None | No | No |
| 💵 NGN Deposits | No | Yes | No |
| 💳 Nigerian Naira Account | No | Yes | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 🛍 Retail Investor Accounts | 8+ | 3 | 1 |
| ☪️ Islamic Account | Yes, Dubai | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | Unknown | Unlimited | Unlimited |
Trading Platforms
👉 IG offers the following trading software that can be used to connect Nigerian traders to global financial markets:
➡️ MetaTrader 4
➡️ IG Platform
➡️ ProRealTime (PRT)
➡️ L2 Dealer
➡️ FIX API
Desktop Platforms
➡️ MetaTrader 4
➡️ IG Platform
➡️ L2 Dealer
👉 Most global traders rely on MetaTrader 4’s desktop platform because of its powerful technical analysis and automated trading features. There is also an additional 18 custom app add-ons to choose from. Downloading the MT4 platform is free, and it may be used to trade currencies, commodities, and more.
👉 Any UK traders who want to participate in spread betting (UK) or global traders who want to participate in CFD trading can utilize the IG web trading platform. Several innovative and robust features are offered to traders at any given time. Streaming news, an economic calendar, and trade recommendations are just some of the browser-based study tools available on this platform.
👉 L2 Dealer is a completely free and downloadable stock trading program that provides direct market access (DMA). Users can easily trade CFDs or utilize the share dealing service, which includes convenient monitoring features including watchlists, price alerts, and orders.
WebTrader Platforms
➡️ MetaTrader 4
➡️ IG Platform
➡️ ProRealTime
➡️ FIX API
👉 Trading on MT4 Web is simple, which is why it is the platform of choice for many traders across the world. Trading ideas, tools, signals, and automated trading systems are all freely available in a wide online community.
👉 Traders from around the world can use IG’s progressive web app (PWA) on any device, without the need to go to a third-party app store, from anywhere in the globe. PWAs are built for speed and ease of use, eliminating the delays that are inherent in conventional app store approval procedures.
👉 Extensive charting software ProRealTime (PRT) provides sophisticated monitoring features, as well as flexible access and advanced analytical resources. Users of technical charts may benefit from PRT. When UK traders participate in spread bets or other traders trade CFDs at least four times each month, they need not pay for the platform.
👉 With FIX API, Accessing real-time market data, historical pricing, and order execution from any IG trading accounts is made simple. This eliminates the time and effort involved in tracking down data from many exchanges and dark pools. A direct delivery option is also available, assuring speed and efficiency.
Trading App
➡️ MetaTrader 4
➡️ IG Platform
👉 Among the plethora of trading apps offered, MetaTrader 4 is one of the most popular options because of its robust technology, speed, and perfect integration of the trading account across devices. MetaTrader 4 can be used on either iOS or Android tablets and smartphones.
👉 Trading on the go has never been easier with IG’s mobile trading platform, which is compatible with Android and iPhone. CFD traders and stock/share dealers in the United Kingdom may use it. Mobile charts from IG may be seen at any time using the same tools as on the web-based platform.
Range of Markets
👉 The range of Markets that Nigerian traders can expect include:
➡️ Forex
➡️ Indices
➡️ Shares
➡️ Commodities
➡️ Cryptocurrencies
➡️ Futures
➡️ Options
Broker Comparison for Range of Markets
| IG | FXTM | AvaTrade | |
| 💰Forex | Yes | Yes | Yes |
| 🔨 Precious Metals | Yes | Yes | Yes |
| 💰 ETFs | No | No | Yes |
| 📊 CFDs | Yes | Yes | Yes |
| 📈 Indices | Yes | Yes | Yes |
| 💵 Stocks | Yes | Yes | Yes |
| 💳 Cryptocurrency | No | No | Yes |
| 💰 Options | Yes | No | Yes |
| 💸 Bonds | Yes | Yes | Yes |
| 🔋 Energies | No | No | Yes |
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 NGN
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Trading and Non-Trading Fees
Spreads
👉 The typical spreads that traders can expect from IG include:
➡️ Forex – 0.6 pips EUR/USD with an average spread of 0.75 pips
➡️ Forex – DMA spread of 0.1 pips
➡️ Indices – from 0.4 pips on the FTSE 100
➡️ Commodities – from 0.3 pips
➡️ Cryptocurrency – from 0.2 pips on Stellar
➡️ Futures – from 0.6 pips
➡️ Interest Rates – from 1 pip
➡️ Bonds – from 1 pip
Commissions
👉 Commissions are charged as follows:
➡️ EU and UK Shares – 0.10%
➡️ US Shares – $0.2
Overnight Fees, Rollovers, or Swaps
👉 When Nigerian traders hold a short-term trade and it stays open overnight, traders can expect to be credited/debited an overnight fee. This charge is applied to CFD positions that are held beyond 10 pm United Kingdom time.
👉 Instead of applying overnight fees to futures or forwards, IG instead applies wider spreads because these instruments are typically held for longer times.
👉 When Nigerian traders place a CFD trade they use leverage, and this means that the trader borrows money from their broker to open a position larger than their initial deposit. To ensure that the position can be held overnight an interest adjustment must be made to the trader’s account, effectively reflecting the cost of funding the position.
👉 The following formula is used to calculate CFD overnight fees with IG:
➡️ The number of contracts is multiplied by the contract value and price x (SONIA% +/- the 2.5% admin fee) divided by 365.
👉 If traders have a long position, the formula will be added while a short position will be subtracted, as follows:
➡️ Long Position – Number of contracts x contract value x price (SONIA% + 2.5% admin fee) / 365.
➡️ Short Position – Number of contracts x contract value x price (SONIA% – 2.5% admin fee) / 365.
Deposit and Withdrawal Fees
👉 IG charges a 2.1% transaction fee on Credit and Debit cards when traders fund the trading account using this deposit method.
Other Fees
➡️ IG charges an inactivity fee of $12 when the trading account becomes dormant after two years.
➡️ There is a monthly fee applied for obtaining Live Price Data Feeds from IG.
➡️ When traders use ProRealTime Charts, there is a monthly subscription fee of $20 per month, which is refunded when traders execute four trades, or more, per month.
➡️ There is a $50 fee on accounts where there is no W-8 or W-9 form before the dividend ex-date of a qualifying trade on stocks that are incorporated in the United States.
➡️ If CFDs are traded in any currencies other than the trader’s base account currency, they can expect to be charged a currency conversion fee of 0.5%.
Deposits and Withdrawals
IG offers the following deposit and withdrawal methods:
➡️ Bank Wire Transfer
➡️ Debit Card
➡️ Credit Card
➡️ PayPal
How to Deposit Funds with IG
To deposit into a trading account, traders can log into their My IG portal and select the option to “Deposit.” Traders can select their payment method, select the deposit currency, and enter the amount that they wish to deposit.
Depending on the deposit method, traders may need to complete additional steps to complete the deposit. Traders who are making an international payment to IG must ensure that they provide the broker with the proof of payment once they have transferred funds.
How to Withdraw Funds with IG
To withdraw funds, Nigerian traders can log into their My IG portal and navigate to “Live Accounts” where they can click on “Withdraw Funds.” Traders can only withdraw funds using a bank transfer or they must use a credit/debit card if they deposited funds this way.
For the first withdrawal of funds, traders must submit a bank statement that indicates their initial deposit and subsequent bank account details. Traders must email this to IG’s helpdesk email on the Help and Support page of the official website.
Once the information has been verified, the withdrawal request can be processed and completed.
IG Education and Research
IG offers the following Educational materials and Tools:
➡️ IG Academy
➡️ Risk Management Guidelines
➡️ Maximizing Trading Success
➡️ Developing a Trading Strategy
➡️ Webinars
➡️ Seminars
➡️ Glossary
IG offers the following Resources and Trading Tools:
➡️ News and Trade Ideas
➡️ Financial Events
➡️ Trade Analytics Tool
➡️ Subscriptions and Downloads
➡️ Special Reports
➡️ Podcasts
➡️ Economic Calendar
IG Affiliate Program
IG is a globally-recognized leader in online trading as well as investment. IG offers over 40 years’ experience in global financial markets and the broker is an established, reputable FTSE 250 company that has an impressive balance sheet.
IG’s Affiliate Program offers Nigerians the following benefits and features:
➡️ Affiliates can get a bonus of up to $1000 for each qualifying new customer that they bring on board, attributable to a robust and comprehensive tracking system.
➡️ To increase the number of times a banner ad is clicked, custom online and mobile banners are created.
➡️ In addition to reporting and dashboards, partners have access to a dedicated relationship manager and our multilingual support staff.
➡️ Affiliates can quickly make a compelling offer for their customers by promoting IG and the broker’s world-class products.
The minimum requirements for an IG affiliate program are as follows:
➡️ Prospective partners must be over 18 years old
➡️ The prospective affiliate must have an active website
➡️ The website must be focused on trading or financial services
➡️ The website must offer balanced and impartial information relating to trading or finances
➡️ The website must be aimed at an audience that is over 18 years old
IG Social Responsibility
👉 According to IG, in everything that the broker aims to achieve, the team has a feeling of duty. The IG Group’s development and success may be attributed to its commitment to ethical business practices.
👉 To the advantage of a broker that is an internet firm, there are very few hazardous emissions from daily operations. However, IG is delighted to be carbon neutral per PAS2060 and take every conceivable measure to minimise its environmental effect.
👉 The IG team believes in doing its part to protect the environment and help those in need. To achieve this, IG donates 1% of its yearly post-tax revenues to charitable causes.
👉 In addition, IG also asks its employees to donate their free time as well as a significant amount of money each year to its Brighter Future Finance, which is used to fund community outreach initiatives.
👉 IG must maintain high standards of corporate governance and regulatory compliance as a financial services company. Subsequently, IG has implemented a comprehensive risk management approach that includes a series of checks and balances to keep the broker on course.
👉 Key Risk Indicators and frequent conduct of risk evaluations help IG keep a close eye on its own standards and keep it from falling short of these.
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 NGN
Regulators
IGRs
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
80
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Verdict on IG
IG offers a wide variety of robust trading platforms, including MetaTrader, proprietary software, and direct market access through FIX API, to trade a wide variety of assets.
For traders of all skill levels, IG has a wide range of trading tools and instructional materials available. Account types can be customized to meet every trader’s specific needs, and there are a variety of handy ways to fund and withdraw funds.
IG’s competitive trading conditions, such as minimal fees, narrow spreads, and rapid trade execution speeds, are available to traders across the world, including Nigerian traders. IG is a great choice for both beginner and experienced traders, attributable to its low spreads, an extensive selection of trading instruments, and innovative news, research, and education resources.
Customers have a range of platform alternatives to select from, and they can quickly upgrade their accounts as their equity grows. In addition, the direct market access, or DMA, that can bypass the conventional dealing desk would be appreciated by professionals.
IG Current Popularity Trends
👉 According to Google Trends, IG has seen an increase in Google Searches in the past month.
IG Pros and Cons
| ✔️ Pros | ❌ Cons |
| IG has a long list of licenses, regulations, and authorizations from around the world, giving it a very high trust score of 99% | There is a high minimum deposit |
| IG offers several account types per global region | There are deposit fees charged |
| There are flexible trading and non-trading fees, ensuring that all types of traders receive tailored solutions | Only Dubai residents can apply for the Islamic Account |
| Nigerian traders are welcomed and given access to over 17,000 markets | There is a limited selection of deposit and withdrawal methods |
| There is a selection of trading platforms that cater towards different trading styles and levels of trading experience | There is no Naira-denominated account |
| IG offers Islamic accounts to Dubai residents | Nigerian traders will face currency conversion fees |
| There are no fees charged on withdrawals | |
| Traders have access to the IG Academy and a range of trading tools |
Frequently Asked Questions
Which financial instruments can I trade with IG?
You can trade any of the following:
- Forex
- Indices
- Shares
- Commodities
- Cryptocurrencies
- Futures
- Options
Which trading platforms are supported by IG?
The following platforms are supported by IG:
- MetaTrader 4
- IG Platform
- ProRealTime (PRT)
- L2 Dealer
- FIX API
Is IG regulated and by whom?
Yes, IG is well-regulated and authorized by FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA.
What is the overall rating for IG out of 10?
9/10.
Is IG suitable for beginner and professional traders?
Yes, IG is a broker that accommodates all types of traders.
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