Is IG a Good Investment Platform? My Honest Review
Dom Farnell
Co-Founder
Dom, a Co-Founder at TIC, is an avid investor and experienced blogger who specialises in financial markets and wealth management. He strives to help people make smart investment decisions through clear and engaging content.
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Last Updated 20/11/2024
Quick Answer: Is IG a Good Investment Platform?
Yes, IG is a great investment platform. With access to a wide range of markets, advanced tools, and robust educational resources, it’s suitable for long-term investors. However, new investors might find the platform overwhelming initially due to its advanced features and fee structure.
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IG
- Intuitive Platform
- Competitive Fees
- Wide Market Access
- User Friendly
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Why I Started Investing with IG
I stumbled upon IG while searching for a platform that could support my goal of building a diversified long-term portfolio. At the time, I had tried a couple of other brokers, but they either lacked market variety or felt too basic for my evolving needs. IG caught my attention because it consistently ranked as one of the best platforms for investors in online reviews.
What initially impressed me was IG’s sheer range of investment options. Unlike other platforms I had used, which primarily focused on stocks, IG offered access to shares, ETFs, indices, forex, and even bonds and commodities. For someone looking to diversify beyond traditional assets, this was a major plus.
Another factor that appealed to me was the platform’s reputation for reliability and data-rich tools. I specifically recall opening my first ETF position on IG and being amazed by how detailed the investment analytics were—everything from performance charts to dividend histories was readily available.
IG’s educational resources also stood out. The platform didn’t just let me invest—it helped me learn how to invest smarter. That combination of versatility, reliability, and education made IG my go-to platform for building a sustainable investment portfolio.
What Makes IG a Strong Investment Platform?
Wide Range of Markets and Instruments
IG’s range of investment options is one of its standout features. The platform provides access to 17,000+ markets, including shares, ETFs, indices, forex, and commodities. This extensive selection means investors can create a well-diversified portfolio tailored to their goals.
For instance, I used IG to invest in a mix of US tech stocks, European ETFs, and gold as a hedge against market volatility. The ability to switch between asset classes within a single platform saved me the hassle of managing multiple accounts.
What I appreciated most was the platform’s depth. Beyond just offering stocks and ETFs, IG provides advanced instruments like options and leveraged products, giving more flexibility to those with specific investment strategies. This diversity ensures that IG isn’t just for traders—it’s a robust solution for investors aiming for long-term growth.
Table: IG’s Market Range vs. Competitors
| Asset Class | IG | eToro | Hargreaves Lansdown |
|---|---|---|---|
| Shares | 12,000+ | 3,000+ | 5,000+ |
| ETFs | 2,000+ | 250+ | 1,200+ |
| Forex Pairs | 80+ | 49 | Not offered |
| Indices | 80+ | 13 | Not offered |
This breadth of markets makes IG one of the most versatile investment platforms available.
User-Friendly Trading and Investing Tools
IG’s platform is built with both novice and advanced investors in mind, offering tools that simplify portfolio management while providing the depth needed for informed decision-making. The customizable charts, real-time market data, and risk management features were game-changers for me.
For example, I used IG’s profit/loss calculator to evaluate the potential returns of my investments before committing capital. This feature allowed me to weigh the risks and rewards of various options, which was particularly useful when investing in volatile markets like tech stocks.
Another standout feature is the portfolio analysis tool. I once noticed that my portfolio was heavily skewed toward US equities, thanks to IG’s performance breakdown. This insight prompted me to diversify by adding European ETFs and some gold holdings. The platform’s built-in tools helped me identify opportunities and gaps in my investment strategy.
The user interface is intuitive, with all major features easily accessible via a streamlined dashboard. However, for those who prefer mobile access, IG’s app offers the same functionality as its desktop platform. Whether you’re monitoring performance or making trades on the go, IG’s tools empower investors to take control of their portfolios.
Educational Resources for Informed Investing
IG’s educational resources are among the best I’ve encountered on any investment platform. From webinars and daily market analysis to in-depth investment guides, IG provides a wealth of knowledge tailored to investors at all levels.
One resource that stood out to me was a webinar on ETF investing, which broke down how to choose ETFs based on sector trends and performance. After applying the strategies discussed, I added a healthcare ETF to my portfolio that has performed exceptionally well over the past year.
IG also offers real-time market updates and analysis, which I’ve found invaluable for staying informed. For instance, during a period of market volatility, IG’s daily reports helped me identify defensive assets to stabilize my portfolio.
Whether you’re new to investing or looking to refine your strategies, IG’s educational offerings ensure that you’re making informed decisions every step of the way.
What Challenges Might Investors Face with IG?
Are the Fees Competitive for Long-Term Investors?
IG’s fee structure is transparent but may not always be the most competitive for long-term investors. For shares and ETFs, IG charges a custody fee of £24 per quarter unless you make at least three trades within the period, which might be discouraging for passive investors. Spreads on forex and indices are tight, but commissions on non-leveraged shares start at £3 per trade for UK stocks, which is competitive compared to other platforms.
Long-term investors should also be aware of currency conversion fees (0.5%) for international assets, which can add up for globally diversified portfolios. However, IG’s lack of inactivity fees and its access to over 12,000 shares and ETFs often outweigh these costs.
Table: Fee Comparison for Shares and ETFs
| Platform | Share Trading Fee | Custody Fee | Currency Conversion Fee |
|---|---|---|---|
| IG | £3-8 per trade | £24/quarter (waived with 3 trades) | 0.50% |
| eToro | Commission-free | None | 0.50% |
| Hargreaves Lansdown | £11.95 per trade | 0.45% of portfolio (max £200) | 1% |
For active investors, IG’s fee structure can be cost-effective, but passive investors might find the custody fee less appealing.
Is the Platform Overwhelming for New Investors?
IG’s extensive features and data-rich interface can feel overwhelming for new investors. The platform includes multiple tools, from customizable charts to advanced market analysis, which might intimidate beginners unfamiliar with investing.
To overcome this, I recommend starting with IG’s demo account, which provides a risk-free way to explore the platform and its features. Additionally, focusing on the “simple view” option in the dashboard can help new investors get comfortable with essential functions before diving into advanced tools. Gradually exploring IG’s educational resources also ensures that you’re equipped to navigate the platform confidently.
How Does IG Compare to Other Investment Platforms?
What IG Offers That Others Don’t
IG stands out from competitors like eToro and Hargreaves Lansdown due to its extensive market access and advanced tools. With over 17,000 instruments, IG offers one of the most diverse selections of shares, ETFs, indices, and forex pairs available on a single platform.
The platform’s professional-grade tools, such as real-time charting, market sentiment indicators, and risk management features, cater to both active and long-term investors. For example, I’ve used IG’s sentiment analysis to refine my entry points for international stocks, a feature many competitors lack.
IG also supports fractional share trading, allowing investors to start with smaller amounts in high-value stocks like Amazon or Tesla. This accessibility is particularly appealing for those building a diversified portfolio without large upfront capital.
Compared to Hargreaves Lansdown’s higher trading fees and eToro’s limited asset selection, IG offers a balance of affordability and versatility, making it a robust choice for serious investors.
Where Competitors Might Be Better
While IG excels in market access and tools, competitors like eToro and Hargreaves Lansdown may offer better features for specific needs. For example, eToro’s commission-free trading and social investing features make it a strong contender for cost-conscious investors who want to follow other traders.
Hargreaves Lansdown, on the other hand, provides a more simplified interface and access to detailed research reports for UK shares, which might be better suited for passive, long-term investors. However, IG’s focus on professional-grade tools and market breadth ensures it remains the platform of choice for more experienced investors.
Tips for Getting the Most Out of IG as an Investor
Diversify Your Portfolio with IG’s Options
Leverage IG’s extensive market access to diversify your portfolio. Consider balancing investments across shares, ETFs, forex, and commodities for broader exposure. For example, I added US tech stocks, European ETFs, and gold using IG, which allowed me to hedge risks while capturing growth opportunities. With over 17,000 instruments available, IG makes it easy to build a well-rounded portfolio tailored to your goals.
Use IG’s Research and Market Analysis Tools
Take full advantage of IG’s market analysis tools, including sentiment indicators, economic calendars, and in-depth reports. I’ve used their research insights to identify undervalued sectors during market corrections. These tools help investors make informed decisions and time their entries and exits effectively. Whether you’re tracking long-term trends or short-term opportunities, IG’s analysis features are invaluable for smarter investing.
Start Small and Explore the Platform
If you’re new to IG, start with smaller investments while you explore its features. I began by trading ETFs to understand how the platform worked before diversifying into individual stocks. The demo account is also a great way to practice without risking capital. Starting small allows you to learn at your own pace and build confidence with IG’s tools.
Should You Use IG as an Investment Platform?
IG is an excellent choice for investors looking for a versatile and feature-rich platform. With access to 17,000+ markets, advanced tools like sentiment indicators and risk management features, and educational resources, IG caters to both active and long-term investors.
However, IG’s custody fees and advanced interface might be less ideal for passive or beginner investors. For those willing to explore its tools and make regular trades, the platform offers excellent value and flexibility.
Based on my experience, IG is best suited for investors seeking broad market access and data-rich tools to inform their decisions. Whether you’re diversifying into global shares or managing an ETF portfolio, IG provides the resources and features needed to succeed in today’s markets.
FAQs
Yes, IG is a strong choice for long-term investors. It offers access to over 17,000 markets, including shares, ETFs, and bonds, alongside advanced portfolio management tools. However, its custody fees may be a consideration for passive investors.
IG charges £3-8 per trade for UK shares and ETFs, and a £24 quarterly custody fee (waived if you make three trades per quarter). Currency conversion fees are 0.5%. Spreads on forex and indices are competitive for active investors.
While IG’s platform is feature-rich, it may feel overwhelming for beginners. However, its demo account and educational resources, including tutorials and webinars, make it accessible for those willing to learn.
IG provides access to a wide range of markets, including over 12,000 global shares, 2,000 ETFs, indices, forex, commodities, and bonds, making it one of the most comprehensive platforms.
IG stands out for its market diversity and advanced tools. However, competitors like eToro offer commission-free trading, and Hargreaves Lansdown has a more beginner-friendly interface. IG is better suited for investors seeking depth and versatility.
Trade Smarter, not Harder
- Intuitive Platform
- Competitive Fees
- Wide Market Access
- User Friendly
70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
References:
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Investopedia: This comprehensive review discusses IG’s features, platform usability, and educational resources, highlighting its strengths and areas for improvement.
Financial Times: An article examining IG’s market position, financial performance, and strategic initiatives within the trading industry.
Trustpilot: User-generated reviews and ratings provide insights into customer experiences with IG, focusing on aspects like platform usability and customer service.
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70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
