IG demo account total review

Broker IG, previously known as IG Markets, offers traders the ability to trade Forex and CFDs, among other things. The online broker has established itself on the market because of its favorable conditions. The IG Demo Account allows customers to test trading before investing real money. This allows them to gain important experience and try out their own strategies in advance.

IG Markets demo
IG Markets demo

Trading with IG: Real-time trading vs trading via the demo account

The IG Markets Demo is interesting for beginners as well as for advanced traders because the user is free of charge and without a time limit as well as real money. Not only binary options are traded, but also stocks, indices, and forex. Rather, the broker also has other markets in his extensive portfolio. Watchlists are already available to the investor in the demo account and alarms can be set. Thus the testing is not only given with binary options, but also the exciting Forex trading.

Advantages and disadvantages of IG Markets:

  • +Demo account with a virtual balance of 10,000 euros
  • +Regulation by FCA and BaFin
  • +Deposit protection up to £50,000
  • +Trade in real-time on more than 10,000 international markets
  • +Mobile app can be tried out in test mode
  • +More than 7,000 tradable underlyings
  • +More than 70 currency pairs
  • +Low spreads from 0.6 pips
  • -Minimum deposit of 250 British pounds or 300 euros
  • -No regular new customer bonus

When trading binary options, the trader only has to ask himself the question: yes or no! Because it is set on rising or falling prices. Basically this looks very simple. But since options trading is a speculative business, it naturally also involves risks. That is why it makes sense and is very helpful if traders use the demo account. The British broker IG Markets has been on the market for more than 40 years.

How is IG regulated?

In addition to optimal trading options, IG Markets offers reliability and security. Thanks to the huge wealth of experience, the broker knows which measures are necessary to make traders feel good. Investors don’t want to have to constantly question, but want to react to expert market analysis and receive nice returns with the correct assessment of the price movement.

IG FCA Regulator
IG FCA Regulator

The Broker is regulated and licensed by the Financial Conduct Authority (FCA) and by the German BaFin. Both authorities are known for their meticulous attention to compliance with regulations. In order to comply with European standards, customer and company funds are kept separately at reputable banks. Even in the event of insolvency, customer funds are protected from unauthorized access.

IG Bafin Regulator
IG Bafin Regulator

IG Markets Ltd. belongs to IG Group Holding, which is listed on the London Stock Exchange. This is additional proof that the broker is reputable and trustworthy. Because of the listing, the online broker has made the commitment to publish, among other things, all business processes. Thus, the smallest inconsistencies in the business processes are immediately noticed. Customers also receive deposit insurance, which is guaranteed by the Financial Compensation Scheme (FSCS).

Trading conditions at IG

IG Markets completely waives commissions, which means that the entry of new customers is excellently regulated, allowing them to make their first trades even with little experience in CDF and Forex trading. Spreads for popular currency pairs are 0.8 pips, making trading more lucrative. A deposit of 250 British Pounds or 300 Euros is required to open and register a trading account.

The trading offer at IG Markets is remarkable. When trading CFDs, traders can choose to trade stocks, indices, bonds, and commodities, or enter into forex trading with different currencies. This provides access to more than 10,000 financial instruments. All key markets are tradable, making trading at IG Markets attractive to new and experienced traders alike.

  • Minimum deposit $250
  • No commissions per transaction
  • Trading already possible with tight spreads from 0.6 pips
  • Maximum lever 1:30
  • Minimum trading amount 25 Euro
  • Trade with indices, foreign exchange, futures, stocks, commodities, precious metals
  • For new customer acquisition up to 400 Euro bonus
  • MetaTrader4 as a trading platform and own platform
  • Mobile trading via the app
  • Free IG Demo Account

IG Markets’ clients can execute trades 24 hours a day, five days a week, and receive key information about the various assets around the clock. For traders who have questions or problems, customer support is available personally on the phone or via email with competent multilingual answers and ensures straightforward clarification.

Assets than can be traded

The online broker offers its customers a large number of tradable products. Thus, traders can find CFDs Indices, CFDs Forex, CFDs Stocks, Binary Options and other markets such as commodities, cryptocurrencies such as Bitcoin, options, interest rates, sectors, bonds, ETPs, IPOs, and Sunday trading. For the best information about the various markets, traders can access news, analysis, market data, an economic calendar, signal center, Trading Central newsletter, a trading diary, and a market screener.

IG Markets and Assets
IG Markets and Assets

IG Markets at a glance

The online broker, which has been active for 40 years, was only able to establish itself in the market for so long and to be one of the largest because it has adapted to the wishes and requirements of the traders and conditions in the market. In the same way, he fulfills the various criteria that stand for security and thus gives the customer a good feeling when trading. This includes a comprehensive trading offer as well as regulation and security, which is carried out in accordance with EU directives. Through a company headquarters in Düsseldorf, BaFin also keeps an eye on the online broker and not just the British FCA.

But there are other aspects such as deposit and withdrawal options, the IG Markets demo, customer support, registration, and the use of the customer account that are of interest to traders. IG Markets is one of the most respected brokers in the market and meets many important standards that make trading safe and convenient. Investors can use all of these to start trading with IG Markets or, as an experienced trader and professional, to earn handsome returns.

IG Markets MT4
IG Markets MT4

With IG Markets, traders have a dedicated and experienced broker at their side. Investors can choose from a range of trading platforms. L2 Dealer is a tailor-made platform for trading stocks and CFDs. It is the ideal tool for experienced traders and professionals. It offers powerful and flexible DMA access and is ideally suited for complex trades. Anyone who has ever had a look at online trading should know MetaTrader 4. This makes fast trading with CDFs very successful.

Furthermore, the trader receives improved Trading Central Addons and chart lists. There is an excellent service, which is available 24 hours a day with trained staff. Trading with API brings further possibilities, as automatic trading can be done via the web-based API interface. This is quite profitable for the trader as it uses sophisticated trading algorithms and models. At IG Markets, the functionality and user-friendliness are convincing. In addition to desktop use, the app can also be used to obtain important information and place trades anytime and anywhere. All you need to do is download the MetaTrader 4 app for iOS or Android to your mobile device. Traders can also use the application to access da demo account to test all the options before making their first real money bet.

If you want to register with IG Markets immediately, you can do so conveniently via the website and start trading immediately with your live account. There are several payment methods available for deposits and withdrawals. However, there may be additional charges for different payment methods. IG Markets is not only the ideal platform for beginners but also offers interesting speculation opportunities for every type of trading and every level of trading.

Risk-free trading via the demo account

Opening an account with IG Markets is very simple. There is a registration form on the website. There, future traders are guided through the simple registration process. You can register here:

  • Last name
  • First name
  • Date of birth
  • E-mail address
  • Phone number
  • Password and
  • Username

Afterwards, an investment amount is selected or a minimum deposit of 250 euros is made into the live account. Finally, all that is left to do is tick the box to agree to the conditions. According to the latest money laundering law, investors must identify themselves so that the broker can verify the customer account. The identification is done by sending a copy of the identity card or other identification documents.

IG Markets verification
IG Markets verification

The usual post-identification procedure or the innovative option of video ID can be used for this purpose. However, the trading account cannot yet be used for CFD and Forex trading. Because IG Markets makes high demands on future traders:

  • Investors must be of legal age.
  • They must have previous trading experience.
  • The account opening at the IG branch is for the country in which the trader lives.
  • The basics of CDF trading must be known and possible risks must be understood by traders.
  • Reading through all information and documents as well as trading contracts is mandatory and must be accepted.

After the comprehensive identification process is completed and the application form has been filled out completely, traders will receive the access data for their trading account by e-mail or telephone. Although IG Markets requires a minimum deposit, traders can choose how much they wish to deposit. The subsequent telephone introduction to the advantages and functions of the trading platform is very pleasant.

IG Markets demo account at a glance

If you would like to use only the IG Forex demo account or IG CFD Trading Demo first, you do not need to provide any extensive information. First of all, the desired username and password will be determined. Then you need to enter your personal details, home country, zip code, and telephone number. In addition, an email address must be provided. In comparison to the live account, the information is kept very small. For many traders, providing their telephone number is a red rag because they fear that it will be used for annoying sales offers. IG Markets does not contact the trader by phone and only wants the really important and necessary information.

IG Markets registration
IG Markets registration

In the demo account customers immediately receive Information about the amount of margin. Furthermore, alarms can be set up and tested and watchlists can be created. The menu continuously displays the virtual credit balance that is available for test trades. If you want to start your first attempts with real money, you can switch to the live account at any time. Just like when trading with real money, traders can set up the IG Test Account individually. This provides the opportunity to at least partially customize the data displayed in the base model. The offer can be used in various ways. Orders can be executed on the PC as well as on mobile devices with the demo account.

IG Markets offers another way to view the trading platform and use the demo account without having to register first. There is a handy platform preview to get a first impression. All the important functions are available for viewing and you can easily navigate through numerous underlying instruments. If you would like to make a test trade, this interactive demonstration will not get you anywhere but will inform you that you first need to open a trading account.

As a reputable online broker, IG Markets points out that there are differences between the demo account and the live account. For example, there is no possibility in the demo version that trades will be rejected. With the live trading account, this can happen in exceptional cases. When an order is executed via the demo account, there is no adjustment of interest and dividends.

Also, the slippage, which is important for real trading, does not play a role in the demo account. If there are price fluctuations during the core trading time of the underlying instruments, these do not affect the demo trader’s respective CFD positions. Chart packages are available free of charge when using the demo account, which may be subject to charges for the real trading account.

Payment options at IG Markets

IG Markets only offers a limited number of payment methods for traders. To fund your trading account, only a credit card or wire transfer is available. When using a credit card, a transaction fee of 1.5 percent of the deposit amount is charged. If there are 50,000 euros on the trading account, traders benefit from the premium service.

This includes a personal account manager, free access to seminars, invitations to premium events, and interest on the deposits. There is no welcome bonus. Instead, investors receive the so-called Active Trader Bonus. If you trade with large volumes, part of the fees will be credited to your live account at the end of the month.

IG Markets bank transfer

Spreads and margins that can occur

As is common when trading CFDs, traders only need to deposit a fraction of the contract value with the broker as margin. At IG Markets, this is five percent. The online broker also offers a margin with guaranteed stops and non-guaranteed stops. Various risk management tools are also available to limit risk. The broker’s website lists and explains in detail all the fees incurred. Only the spread is due for all non-share CFDs. However, small commissions are payable for stock CFDs and physical stock trading.

Currency pairs such as EUR/USD have a value per pip of USD 1, a minimum spread of 0.6, and require a margin of 1.5 percent. For the EUR/GBP currency pair, the numbers look slightly different. The currency pair has a value per pip of 1 GBP, a minimum spread of 0.9, and a margin of 1 percent. For tradable commodities such as gold, the value of the contract is USD 100, the spread is 0.3 and the margin per contract is 0.7 percent. Silver has a value per contract of $50, a spread of 2.5, and a margin per contract of one percent. US crude oil has a contract value of $10, a spread of 6, and a margin per contract of 1 percent.

IG Markets Forex margin
IG Markets Forex margin

If positions are held overnight, further financing costs are incurred. For example, CFD spot positions are subject to an interest rate adjustment. This is based on the 1-month interbank rate. For CDF long positions, IG Markets charges interest, which is re-credited to CFD short positions if the interbank rate is greater than 2.5 per cent. Other charges apply to positions in Forex trading. For long positions, investors will be charged a 2.5 per cent fee. For short positions, investors receive a deduction of 2.5 percent of the interbank rate on the trade. The current Tom/Next fee is used to calculate the interest rate adjustment for trades that are held overnight.

CFD trading at IG Markets includes a number of additional services, although these are subject to a fee. There is Direct Market Access (DMA). DMA is free for stock CFD trading and Forex trading conducted via DMA technology. For stock CFDs, there is a reimbursable exchange fee for extensive access to the DMA prices that are offered. Anyone wishing to use the ProRealTime charts must pay 30 euros in the month. Anyone who makes at least four transactions per month will be reimbursed this fee by IG Markets. In the same way, a fee is charged for live price data feeds, for example, if these are obtained from Secetra. This fee will also be refunded if a certain number of transactions are made per month.

IG Markets ProRealTime
IG Markets ProRealTime

We do not exclude the possibility that we will be required to make additional payments. This means that if the broker calls for a margin call, traders must immediately clear their trading account. This means that if the broker calls for a margin call, traders must balance their account immediately and should be extremely cautious and keep a close eye on their account and transactions to avoid any unpleasant surprises.

Order types at IG

IG Markets’ trading offer is significantly above the industry average. Traders can look forward to more than 10,000 underlayers that are available for CFD trading. In Forex trading, investors can choose from around 80 currency pairs. Underlaying types include fixed income CFDs, interest rates, and bonds. The different types of orders are very extensive. These include:

  • Limit Buy/Sell
  • Fill or Kill
  • Iceberg Orders
  • If Done, Immediate or Cancel (IOC)
  • One cancels the other (OCO)
  • StopBuy/Sell
  • and Trailing Stops, with which traders can influence the respective order.

More offerings

Binary Options are traded with CFD Options at IG Markets. The online broker offers two different ways to do this. Firstly, IG Binaries can be used, with terms of between 5 and 10 minutes, one hour, one day, or weekly and monthly. Trading is possible with Forex, indices, economic indicators, Bitcoin, and commodities. Trading types such as high/low, one-touch, target, liter, tunnel, and hi-lo are used.

IG trading
IG trading

There is also a risk limitation and Early-Closer function. IG Markets sets prices using a variety of criteria. On the other hand, traders have access to SprintMarkets, where they can choose from maturities of 60, 120, and 300 seconds, 20 minutes, and one hour. Trading is done with commodities, indices, and currency pairs. A minimum stake of 25 Euro is required. There are also tools to limit the risk in these transactions.

Help and support center

Anyone who contacts customer service can look forward to competent advice and assistance with questions and problems. The support is available to investors by telephone and e-mail during the week between 8:15 a.m. and 10:15 p.m.

There is also the possibility of a live chat. In addition to personal support, traders can take advantage of a wide range of educational opportunities. There are detailed guides to help traders get started with IG Markets. There are also webinars and coaching sessions as well as practical trading tools such as a signal center and the economic calendar. Traders are thus well equipped to enter the world of Forex and CFD trading in a relaxed manner.

IG funds protection

Conclusion: IG Markets demo account is available at any time

To get the first taste of IG Markets, it is worth using the Demo Account, which is available free of charge and without a time limit. As befits a market leader in the industry, the CFD and Forex broker scores with numerous advantages. The easy-to-use trading platform is not only a special highlight but also the clear, transparent cost structure as well as the quite favorable conditions, which must be emphasized.

More than 10.000 underlying allow a variety of speculations, which are accompanied by nice returns. Regulation, security, and customer-friendliness are aspects that IG Markets traders don’t have to worry about. We are regulated not only by the UK Financial Services Authority but also by the German BaFin.

It would be desirable for IG Markets to provide more options for deposits and withdrawals, such as different e-wallets. Only credit cards and bank transfers are available. A downer is the obligation to make additional deposits at IG Markets, which is not excluded by the online broker. The broker can therefore make use of the margin call. Inexperienced traders should therefore exercise caution and obtain extensive information and support in advance. Otherwise, the Online Broker can be recommended without restriction, as he is a broadly based trading partner and makes trading on intentional exchanges possible.

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