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

Pros:

• Provides protection for EU-/UK-based clients: IG offers protection for clients based in the European Union (EU) and the United Kingdom (UK), providing an added layer of security and peace of mind for those users.

• Wide range of cryptocurrencies: IG supports a wide range of cryptocurrencies, giving users access to a diverse selection of digital assets to trade and invest in.

Cons:

• Not regulated: IG is not regulated, which can be a concern for users who prioritize the safety and oversight provided by regulated platforms. Lack of regulation can increase the risk associated with using the exchange.

Regulatory Authority

IG currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. It makes investing with them risky.

If you are considering investing with IG it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated exchanges to ensure your funds are protected.

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.

Furthermore, IG follows industry best practices and compliance standards to ensure the security of user funds. The platform employs segregated client accounts, which means that user funds are kept separate from the company's operational funds. This provides an added level of protection in the event of any financial issues or insolvency.

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.

Cryptocurrency prices on exchanges are subject to fluctuations due to various factors, including market demand, supply, and overall market sentiment. Prices can change rapidly and are influenced by factors such as news events, regulatory developments, and investor sentiment.

Trading Markets

In addition to offering a platform for trading in cryptocurrencies, IG broadens the spectrum of investment opportunities by providing a multitude of other financial products. This includes trading in conventional financial instruments like share CFDs, indices, commodities, ETFs, options, bonds, and forex.

This rich offering presents opportunities for portfolio diversification and helps investors in hedging their risks. Providing an array of assets for trading, IG establishes itself as a comprehensive platform that caters to the needs of both novice and experienced investors around the world.

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.

For more details you can visit https://www.ig.com/en/help-and-support/cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

Educational Resources

IG provides a variety of educational resources designed to help users understand the complexities of investing and improve their trading skills.

The IG Academy offers a range of courses - from beginner to advanced - providing valuable insights into different facets of trading.

Seminars and webinars allow users to learn from industry professionals, providing real-world context and strategies.

The glossary is an essential tool for understanding financial lingo and complex trading terms.

These resources combine to create a comprehensive suite of educational offerings by IG, reinforcing its commitment to equipping users with the necessary knowledge for trading effectively.

Is IG a Good Exchange for You？

IG is a versatile platform that caters to a wide range of traders and investors. It provides a user-friendly interface and a diverse range of trading products and services. Based on its features, the following trading groups may find IG suitable:

1. Beginner Traders: IG offers comprehensive educational resources, such as trading guides, video tutorials, and webinars, which are beneficial for beginner traders who want to learn about cryptocurrency trading. The platform also provides a user-friendly interface, making it easy for newcomers to navigate and execute trades.

2. Intermediate Traders: Intermediate traders who have some experience in cryptocurrency trading can benefit from the advanced trading tools and features offered by IG. They can take advantage of features like charting tools, technical indicators, and risk management tools to refine their trading strategies.

3. Experienced Traders: Experienced traders who are well-versed in the cryptocurrency market can leverage IG's platform for their trading needs. The availability of a wide range of cryptocurrencies, as well as traditional financial instruments, allows experienced traders to diversify their portfolios and explore different trading opportunities.

4. Active Traders: Active traders who frequently engage in trading activities can benefit from IG's low-latency order execution and competitive trading fees. The availability of various deposit and withdrawal methods ensures convenience and efficiency for frequent traders.

5. Global Traders: IG supports multiple languages, making it suitable for traders from different parts of the world. The platform's global presence and regulatory oversight provide a sense of security and trust for international traders

FAQs

Q: Is IG regulated？

A: No. It has no regulation.

Q: What deposit and withdrawal methods does IG support？

A: IG offers multiple deposit and withdrawal methods, including bank transfers, debit/credit cards, and electronic wallets like PayPal. Traders can choose the most convenient method based on their preferences and availability.

Q: Are there educational resources available on IG？

A: Yes, IG provides educational resources such as trading guides, video tutorials, and webinars to help traders enhance their knowledge and improve their trading skills.

User Review

User 1:“Bro, let me tell you, IG crypto exchange is legit! First off, their security game is on point. They got all these encryption measures and cold storage for your coins. I feel like my crypto is safer than my grandma‘s secret recipe. And guess what？ They are regulated AF! That means they play by the rules and you don’t gotta worry about any shady business going on. The interface is smooth as silk, man. Its so easy to navigate and place trades, even a caveman could do it. The liquidity is insane too, you can buy and sell your cryptos without any hassle. Plus, they support a wide range of cryptocurrencies, so you have plenty of options to choose from. And their customer support？ Top-notch, bro. They are super responsive and always there to help you out. Yeah, the trading fees are a bit high, but hey, quality comes at a price, right？”

User 2: “Dude, I had a rough time with IG crypto exchange. First off, their security measures were lacking. I mean, they claim to have encryption and all, but I‘m not entirely convinced. And let’s talk about regulation, bro. IG is not regulated, and that made me skeptical about trusting them with my hard-earned money. The interface was a nightmare, so clunky and confusing. I had a hard time figuring out how to place orders. Liquidity？ Forget about it! Trying to buy or sell anything was like swimming in molasses. And don‘t even get me started on the limited variety of cryptocurrencies they offer. It’s like they only support the mainstream ones. Customer support？ Non-existent, man. They were slow to respond and didnt solve my issues. The trading fees were also through the roof, it felt like they were robbing me. Overall, IG crypto exchange was a major disappointment.”

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.