IG Markets Review 2022

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IG Markets Review 2022
IG Markets US is the US subsidiary of UJK brokerage powerhouse IG Markets, but unlike its international offering, IG Markets US is a pure-play Forex broker which has grown into one of the leading US Forex brokers. I decided to review IG Markets US to determine if its commission-free trading environment offers the promised cost advantage. Does IG Markets US deserve the praise it gets?To get more news about ig pros and cons, you can visit wikifx.com official website.
Traders get a great selection of currency pairs, offering excellent trading opportunities, a competitive commission-free trading environment. and superb trading platforms. I can also recommend the IG Academy to beginner traders, where IG Markets US delivers an industry-leading service.

IG Markets Regulation and Security
Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. IG Markets presents clients with one regulated entity for US traders, which is also the only necessary regulation for Forex brokers operating out of the United States.
IG Markets US officially launched in 2019, and the Commodity Futures Trading Commission (CFTC) regulates this broker. It is also a member of the National Futures Association (NFA), created by the CFTC. IG Markets US follows the industry standard for US regulations but has faced criticism in 2021.
In January 2021, a spike in market volatility caused outages at IG Markers US, and traders could not manage their positions, leading to avoidable trading losses. Reports from two sources indicated that IG Markets US failed to provide customer support and did not answer phone calls. At the same time, it was quick to react to commentary to protect its image and deny accusations made by clients.
Since IG Markets US is a Forex broker, it does not offer traders Securities Investor Protection Corporation (SIPC) protection, which does not cover currencies. However, since IG Markets US is part of IG Group, publicly listed in the UK on the London Stock Exchange (LSE), and a member of the FTSE250 index, I do not consider this an issue. Traders can confidently trade with IG Markets US and trust this broker with deposits and portfolios.
While the minimum spread is 0.8 pips or $8.00 per 1.0 standard lot, the average cost is 1.1 pips or $11.00. For a US-based broker, this ranks at the top.
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
What Can I Trade on IG Markets
IG Markets US is a pure Forex broker, providing traders with 87 currency pairs, an excellent choice, but no other assets. I like the selection for Forex traders, but cross-asset portfolio diversification is impossible at IG Markets US.
IG Markets US Leverage
The maximum leverage available at IG Markets US is 1:50, but it only applies to a few currency pairs, with 1:30 and 1:20 the most frequent ones. This is not as generous as leverage offered in other jurisdictions, but is standard in the US to protect traders from extreme losses.
IG Markets Account Types
Since IG Markets US only offers Forex trading, it maintains the same account type for all clients. The minimum deposit is $250, higher than at many brokers but well within a reasonable range. I appreciate a broker that does not upsell better trading conditions for more substantial deposits.
IG Markets US Demo Account
IG Markets US has a $10,000 demo account, and there appears no time limit. I like the unlimited duration but prefer a flexible account balance, allowing traders to select one similar to their initial deposit. Demo trading lacks real-life trading experiences, and an excessive amount makes it that much more unrealistic.
IG Markets Trading Platforms
Besides the competitive proprietary web-based trading platform at IG Markets US, traders can use ProRealTime, one of the best trading platforms available for committed traders. IG Markets US also maintains MT4 and upgrades it with 18 add-ons plus Autochartist. I like that IG Markets US supports algorithmic trading via MT4 and ProRealTime. MT4 also comes with an integrated copy trading service. I want to note that traders must place a minimum of four trades per month for free access to ProRealTime. Otherwise, a $40 monthly fee applies.