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IG US Review - is it scam or safe?

IG US Review - is ig.com/us scam or good forex broker?

RATING: 5 / 0 REVIEWS IG US
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Trading Accounts & Product range

 

Account type Min. deposit  Min. trade size Max. leverage Average spread
Standard  $250 0.01 1:50 0.9 pips on EUR/USD 

 

Currently, IG US offers its clients a single account type, where trading is commission-free with attractively low spreads on the cutting-edge MT4 platform. The minimum trade size of 0.01 lots (equivalent to 1000 of the first-named currency), which allows for better risk management.

 

The broker offers wide range of currency pairs for trade: Major, minor, exotic, Autralasian, Scandinavian, and emerging.

 

Keep in mind that IG US accounts are not available to residents of Arizona or Ohio.

 

Trading Conditions

 

Minimum initial deposit

In order to open an account with IG US, one has to deposit $250. This is not a high amount and almost every investor can afford to invest it.

 

Maximum leverage

Brokers operating in the USA are not allowed to provide leverage of more than 1:50, and IG US complies with that. Actually, the US is not the only jurisdiction where leverage is capped by law due to investor protection concerns. Similar restrictions apply in the European Union, Japan, Turkey, and other countries.

 

Spreads & Commission

The bid-offer spread at IG US starting from just 0.8 pips on the most liquid currency pair, the EUR/USD. More importantly, clients of this broker can trade with a spread averaged 0.9 pips for this pair, which is a really attractive pricing. By comparison, the largest broker in the US - Forex.com – offers spread averaged 1.4 pips on EUR.USD.

 

Besides, IG US does not charge any commission fees, and also offers discounts to high volume traders.

 

 

The Company. Security of funds

 

IG US is a part of the IG Group - a world-leading online forex trading provider with more than 40 years of experience on financial markets. The US arm of IG Group, IG US LLC, is approved as a NFA member and is officially registered as a Retail Foreign Exchange Dealer (RFED with the Commodity Futures Trading Commission (CFTC).

 

 The US forex market is a heavily regulated one, and foreign exchange dealers are required to maintain a net capital of at least $20 million and meet high standards of corporate governance, financial reporting and disclosure. Besides, hedging is not allowed in the US and leverage is limited to 1:50, as we have already explained.

 

IG Group also operates Nadex - the premier and largest CFTC-regulated derivatives exchange in the US, offering binary options and spreads to retail traders.

 

IG’s prime regulator is the UK’s Financial Conduct Authority (FCA), but its subsidiaries are also regulated by the relevant authorities in the countries where they operate - Australia, Japan, South Africa, UAE, Singapore, and the USA. Besides, IG is listed on the LSE, and is a member of the FTSE 250.

 

Trading platform

 

IG US offers its clients access to the industry’s standard MetaTrader 4 (MT4) platform. It is easy to use, and yet equipped with a plethora of useful features and tools. The MT4’s charting package of the platform is second to none, and the platform is very popular for its Expert Advisors – automated trading bots, which are easily customizable. Furthermore, IG US offers free VPS services for clients with $5000 account balances.

 

IG US’s MT4 is really reliable, with less than 0.05% downtime over the past 12 months, enhanced with 18 free add-ons and indicators, plus Autochartist. Besides, it is available as a desktop download, mobile app, and web-based version.

 

Payment methods

 

Clients of IG US can deposit and withdraw funds by wire transfer or via an automated clearing house (ACH). Debit card payments will also be available soon.

 

Conclusion

 

 

IG US offers attractive trading conditions for trading in wide range of forex pairs on the MT4 platform. More importantly, the broker is a part of the leading global IG Group, and is licensed to operate on the strictly regulated US market. To sum up the above, here are the advantages and disadvantages of this broker:

 

Pros Cons
A global forex broker No CFDs available
Solid regulation Leverage capped at 1:50
Competitive spreads  
MT4 supported  

 

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Traders` reviews for IG US

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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