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IG Platform: Best Forex Broker for Trading CFDs

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Although you’ll have to pay a 5% commission fee for the privilege; IG lists short-term and long-term CFDs across 17,000+ financial markets.

Pros

  • CFDs across 17,000+ markets 
  • Automated trading strategies
  • User-friendly website 
  • Dedicated mobile app 
  • Fee-free withdrawals 
  • 0.5% stock/ETF trading charge 
  • Phone, email, live chat, and Twitter support

Cons 

  • 5% CFD commission fee 
  • $250 account minimum
  • No CopyTrading 

Forex Market Variety: 4.1/5

Established in 1974, IG was founded as the first legitimate spread betting firm. Since then, they’ve acquired nearly 200,000 clients and have grown to list CFDs across tens of thousands of financial markets.

Of course, you’ll also have access to 80+ currency pairs via their user-friendly website and/or mobile app. If you’d like to trade Forex and CFDs concurrently, you’ll find profitable shares that span over the same 17,000+ worldwide stocks.

That said, IG doesn’t have any sort of CopyTrade program. In other words; you’ll have to make your own investment decisions without mirroring the positions of eToro’s professional gurus.

Read: Interactive Broker

Read: Saxo Bank Trading

Read: XTB Forex Trading

Read: Plus500 Online Forex

Commissions & Pricing: 4/5 

Any turnover you earn from trading on CFDs are subject to a 5% “winnings” fee. Yes, we know this commission is steep, but you’d be hard-pressed to find more profitable CFD opportunities elsewhere.

Trading stocks and ETFs isn’t nearly as costly; since IG’s standard commission for owned assets levels out around 0.5%. To fund your account initially, you’ll have to deposit $250 or more.

On the bright side, you’ll enjoy unlimited fee-free withdrawals to your bank account of choice.

Retail investors should keep in mind that CFDs come attached to a pronounced risk/reward ratio. As always, only invest capital that you can afford to lose (even if you’ve got a sure bet). 

Customer Support: 4.5/5

IG excels in this department – retail investors can get in touch by phone, email, live chat, or Twitter DMs. In comparison to sites like eToro; users won’t have to deposit a certain amount of equity before gaining access to IG’s phone line or live chat support team.

While their staff are MIA on Sundays; we were impressed with their dedication to providing top-notch customer service.