Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
IG is the largest global forex and CFD broker. It is regulated both in Europe and the USA and offers excellent trading conditions and support. IG US was launched in February 2019 and is the first new entry on the heavily regulated US market since 2009.
IG US offers a wide variety of currency pairs – major, minor, Australasian, Scandinavian, exotic and emerging. The peculiar thing here is that with their proprietary online based trading platform you can trade with over 80 currency pairs, while on the MetaTarder4 the choice is reduced to 55.
Also, IG US offers a spread rebate if you reach a certain trade volume – 5% over 100 million USD, 10% over 250 million USD and 15% over 500 million USD.
Regulation & Safety
IG is a trading name of IG US LLC, a registered retail foreign exchange dealer (RFED) and IB with the Commodities Futures Trading Commission (CFTC), and member of the National Futures Association (NFA ID 0509630).
We should note that among other requirements a US regulated broker should maintain at least 20 million USD operational capital at all times – no wonder that the US market is considered to be one of the most heavily regulated markets in the industry, giving traders complete security for their investment.
Bear in mind however, that because of local state restrictions, IG US offers its services throughout all the United States except Arizona or Ohio.
As we noted IG US was launched in February 2019 with spreads up to 27% lower than those of its main competitors like Forex.com. The benchmark EURUSD spread with IG US starts from just 0,8 pips (0,9 pips on average) and it goes without trading commissions.
As for the maximum leverage, it is in line with the latest US regulations and is caped at 50:1. Have in mind that higher leverage is associated with higher risk and it is not a coincidence that most well regulated markets like the European Union, Japan, South Korea and Turkey have also restricted the leverage levels allowed with forex and CFD instruments. For example in Europe the maximum leverage allowed with forex transactions is caped at 30:1, while with CFDs at 20:1
IG US offers its clients a choice between an online forex trading platform, supported on Google Chrome, Mozilla Firefox, Microsoft Edge, Internet Explorer 11 and Safari, and the MetaTrader4 platform. There are also mobile forex trading apps for iPhone and Android.
And if you want to use the service of a Virtual Private Server (VPS) it will be for free, if your balance is over 5000 USD and it will cost you 50 USD a month, if you have less.
Methods of Payment
IG is one of the few brokers, which do not have a minimum deposit requirement. Still, it is generally recommended to start your trading account with at least 250 USD, so that with a leverage of 50:1 as with IG US you will be able to trade with 0,1 standard lots (10 000 USD) and still have some margin cushion.
As for the payment methods accepted, you can deposit or withdraw via a bank wire transfer, credit cards like VISA, American Express and MasterCard or an automated clearing house (ACH). Just have in mind that for a wire withdraw you will have to pay a 15 USD fee.