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IG Markets reviews

Average: 2.3 based on 8 reviews
IG Markets
 IG Markets   Forex broker reviews
  • Website:
  • Year since: 1974
  • Headquarters: London, United Kingdom
  • Company registration: IG Group Holdings, United Kingdom;
    IG Markets Inc., United Sates
    IG Markets Ltd., Australia
  • Regulation: NFA (ID# 0342337), CFTC; ASIC ( Licence No. 220440)
  • Notes: IG Markets Inc. is a part of IG Group, UK.

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Rating interpetation

UK Client

August 24, 2015

10 years Total
7 years - Live trading with this Broker

This broker is well established and has been around for many years. I have never had any issue with their support or money transactions. Over the years they have improved their systems and tried to keep pace with the technological development of the retail broker market. With the exception of the issue raised below I would have rated this broker higher.

However, I have on a few occasions had stop loss slippages and on two occasions had significant stop loss slippages following a market event news. This is something that I have only noticed this year and not previously. This has led me to believe that the broker may be (and this is just a suspicion) profiting from trade slippages during market events at the expense of its clients if no improvements are giving to other clients.

When I challenged the broker on this they tried to explain that stop losses are not guaranteed except if the guaranteed stop loss option is used (which comes at a premium by the way). I then printed out all of the trade listing to show that there were trades filled just below my stop loss price which should have triggered a fill of my stop loss at a reasonable price. As it transpired the broker then explained that during a market news all clients are filled at an aggregate stop loss. I was very unhappy with this explanation, if all clients were filled at an aggregate stop loss and I came out worse off (about 24pips) then either some clients were filled higher than their stop loss price and other lower, or all clients are filled at a lower aggregate price. I have no way of checking whether some clients benefitted from the aggregate stop loss.

This left me with no confidence on how to manage stop losses and stop entries (which have also been affected on a number of occasion as well) especially during market events.

My additional losses was refunded which was very appreciated and I was told that if I didn't use a guaranteed stop loss than any slippage losses will be my fault. I don't agree with this practise and I think brokers should use all available technology today to get the best prices for their clients even at fast moving computerised markets.

I manage all of my trades through stop losses and trailing stop losses, hence this was a big issue for me.

This feedback is a message to all brokers, that with today's computing power and algorithms, practices like the use of aggregate stop loss should have no place in retail trading. These just adds to the suspicion of trade manipulation by brokers and the charge of profiting from price slippages. Brokers should be able to process thousands of trade in 1 second in today's world of algorithms.

Here was the response from my broker which I didn't agree with:


Thanks for your reply. I did try calling but I couldn't get through to you just now.

I would like to explain to you how we fill orders once stop losses have been triggered, so you have a clear understanding how our procedure works going forward.

When there is a significant price movement, or gapping, such as the movement which occurred on the AUD/USD following the central bank's rate cut announcement, a number of clients will have had their stop losses triggered. As I described in the last email, guaranteed stops will be respected. When numerous non-guaranteed stops are triggered, which can happen following an announcement or release of economic data, we aggregate orders and obtain an average fill, which we then pass on to clients. This ensures that preferential treatment is not given to some clients at the expense of others.

Although the market did tick after your stop loss level of 7835, it is not possible for us to guarantee filling stop losses at their exact level. Our policy is to aggregate orders as I said, so we ensure a fair fill for clients who had non-guaranteed stop losses triggered.

As a gesture of goodwill, we are happy to credit your account £xxx. This equates to half the loss acquired after your stop loss was triggered: 12.5 points of slippage that you incurred. If you could kindly reply to this email or give us a call letting us know whether or not you are happy with our offer, that would be most appreciated.

I also hope that you now have a good idea of how non-guaranteed stops can lead to being filled at a worse than expected level, even if the market may tick before a position is filled. If you would like more information or are not clear on the potential risks of non-guaranteed stops, please do let us know.

We look forward to your reply.

Kind regards,

Tags: IG Markets reviews

AU, Kevin Lok

February 26, 2015

1.5 years Total
3 months LIVE with this Broker

Loud advertising but average platform and poor service.
Not recommended.

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November 19, 2014

10 years Total
4 years with this Broker

Who is IG
IG is a market maker for Contract For Differences on shares, Forex and world stock market indexes.
Trading with IG
IG Markets has dealt the trades executed by their clients in two manners: Manual and Automatic dealing. In both manners, IG breaches the MAS administered laws. Further details and evidences will be provided below.
My cause
Over the past few years of trading with IG Asia, I have noticed several practices which are not in line with regulations put in place by regulatory boards (for eg, Monetary Authority of Singapore) and laws (for eg. Torts and contract law). These practices put traders at a disadvantage, and should not be tolerated. However, unless with great scrutiny, it is difficult to notice these anomalies. I have diligently put together many evidences after much analysis and evaluation and can confidently bring these practices to light.
Therefore, I am writing this article to inform traders and to garner support for my cause in advocating for fair trade within the CFD (Contract for Differences) trading industry.
Claims against IG (and evidences)
1) All automatic trades executed by clients are dealt in London, UK and not in Singapore as seen from the screenshot below.
This screenshot was taken from IG Singapore's trading portal. According to the MAS administered law, only CMS License holders are allowed to deal in securities. However, IG UK is not licenced and hence, is not authorized to deal with the trades of clients of IG Singapore. Based on this alone, IG has breached its contract.

MAS have confirmed in the email above that IG UK does not hold a CMS licence.
2) Similar to automatic trades, manual trades are also executed outside Singapore. They are executed by IG Australia. Therefore, these trades breach the contract as well.

IG has acknowledged that manual trades are handled internationally.
What you can do to help
I have started a petition on https://secure.avaaz.org/en/petition/IG_Markets_Ltd_Call_for_compensation_a_fair_and_transparent_trading_system_and_practices/?pv=8 to garner support and gather victims of these unfair trade practices. These supports will greatly aid us as they provide us with the grounds to raise the issue with the relevant authorities to stop these unfair practices from spreading. IG also must pay a price for their unlawful and unethical trading practices. It will be greatly appreciated if you could sign the petition to support this cause. Together, as traders, we can make this industry a fairer playing field.
Over the past years, I have gathered much evidences and information. This space http://igmarketsreviews.wordpress.com/ will be regularly updated with my findings and evidences. In the meantime, please do show your support by visiting and signing the petition.

Tags: IG Markets reviews


November 19, 2011

3 Total
1 with this Broker

Guys stay away from this broker!! The customer service replies with templates letters. Pay attention to all your transaction with them.....

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Vivian, Malaysia

May 31, 2010

18 months Total
1 year LIVE with this Broker

I opened account with their Singapore branch, recommended by Power Up Capital, their agent. I had very bad experience with both Power up capital and this broker. They are highly irresponsible. I funded my account in Singapore Dollar, when i decided to close my account, as their service is very unfriendly and lousy. I requested to transfer my money back to my Malaysia bank account. Instead of convert the money from Singapore Dollar to Malaysian Ringgit, they converted the money from Sin to USD, then to RM. I have lost almost 20% exchange rate from this transaction, When I asked them why they do so, they don't even bother to answer me, and their staffs are rude and unprofessional. Stay away from this Broker!

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April 15, 2010

Here IG Markets speaks about 700:1

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Jacky, Malaysia

April 14, 2010

6 months Total
Demo with this Broker

They only have leverage of 50:1

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Moon Dog, US

February 20, 2010

5 yrs Total
1 year with this Broker

Options, calls and puts on many pairs, some with daily expiration. You can do everything you wish the other brokers could do. You can set price alerts, view any chart you can imagine, hedge with options instead of stops. This broker is for serious traders.

Tags: IG Markets reviews
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