IG

Overview of IG

In 1974, IG was founded in the UK, and it is considered one of the largest CFD brokers around the world. IG is a public company located in London that is on the FTSE 250 index of the London Stock Exchange (LON: IGG). IG has 1921 employees and a market valuation of £2.8 billion, according to its annual report for the financial year ending, 2020.

Pros and Cons

Security

IG places importance on security measures to protect its users and their funds. The platform implements various security measures, including encryption technology, to safeguard sensitive user information and transactions. User feedback on IG's security measures is generally positive, indicating that the platform takes the necessary steps to provide a secure trading environment.

In addition to encryption technology, IG also offers two-factor authentication (2FA) as an optional security feature. This adds an extra layer of protection to user accounts, requiring an additional verification step during the login process.

Cryptocurrencies Available

On the IG platform, users have access to 11 cryptocurrencies, including the most popular Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. These cryptocurrencies are traded against other fiat currencies or other digital currencies on the platform.

How to Open an Account？

The registration process for IG can be completed in the following six steps:

1. Visit the IG website and click on the “Create live account” button.

2. Fill in the online form with your personal information, including country of residence, name, email address, username, and password.

3. Click next: and get swift verification

4. Fund your account and trade

Fees

IG operates on a non-commission basis for Crypto CFDs, charging primarily through spreads, which are the differences between buying and selling prices.

Additionally, daily overnight funding charges apply to positions held at 10pm UK time. For Bitcoin, long positions are charged at 0.0694% daily (equivalent to 25% per annum), while short positions receive a charge of 0.0139% daily (or 5% per annum).

Rates vary for other cryptocurrencies. Interest credits or debits adjustment occur daily at 10pm from Monday to Sunday, with changes ahead of the Christmas and New Year holidays to settle trades over these periods.