• Thu. Apr 18th, 2024

IG for Cryptocurrency Trading – Does It Get Better Than That?

Jan 23, 2022

When you compare online brokers today, you can hardly claim that one is the best. There is such a tough competition and so many brokers on the internet today that you know if one seems the best to you, there will be another one even better. However, there are some brokers that can give you the feeling that there is nothing better than what they are doing and IG is one of them. One of the most complete and comprehensive online brokers, IG is a perfectionist when it comes to CFD trading. It provides its trading platforms to hundreds of thousands of traders from around the world.

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Let’s get to know IG better and find out what makes it arguably the best online broker out there.

IG – Years Spent in Financial Markets

The first thing that strikes you about this broker is how long it has been around for. There are brokers who came into being when online brokerage started to gain traction. However, brokers like IG have been around for many years before that. IG has been providing its services since 1977 and it has seen the ups and downs of the trading industry. The company has learned everything that makes trading easy, simplified, and safe for traders. It has also taken the most important steps to become the safest online broker for millions of traders.

It provides its CFD trading services after proper licensing, registration, and regulation. Australian Securities and Investments Commission regulates IG, making it one of the safest online platforms for trading interested in CFD trading. At the moment, the company has its physical offices housed in 13 different countries. The broker is busy trying to make its services as personalized as possible for its traders. It is commitments to safety, security, and fairness that have won the broker more than 195,000 traders from around the world. It brings the best assets for its traders from more than 15000 different financial markets. Within a few years to come, IG will complete its 50 years of services in the trading world.

One of the things that you have to admire about IG is the way its website has been compiled. Most of the brokers like to talk about their services, deposits, withdrawals, and other important stuff on their websites. These pieces of information are great but traders are looking for something else as well. IG has an informative website that explains each and everything about its services clearly. In addition to talking about its services, it explains CFDs and other different types of trading to its traders. If you are a new trader, you should definitely browse IG’s official website to learn a lot about CFD trading and other related topics.

Thousands of Assets You Can Trade with IG

As stated earlier, the broker is now linked to more than 15,000 companies in the world. There is no doubt that it can bring the most valuable assets for its traders to trade. There are 30 indices that you can choose one from to match your trading style. You can trade most of these indices 24 hours a day. Not to mention, you can enjoy some great spreads so when you make profits from your trades, most of it goes into your pockets. In a similar manner, you can trade the most stable and the volatile currencies of the world while using the IG trading platform.

IG has definitely one of the biggest asset indices. If you are not interested in trading forex and indices, you can find many other assets. You can trade commodities that include soft and hard commodities both. More importantly, you have cryptocurrencies available for trading as well. That’s exactly what modern traders want. Many modern traders have taken interest in trading because of the cryptocurrency market. They see cryptocurrencies as assets that are meant for them to trade since many old investors and traders always seemed skeptical about them.

If you are looking forward to start your trading career in cryptocurrencies, you will not be disappointed with what IG has to offer. Of course, you have to understand the concept of CFDs here again. You will not be owning cryptocurrencies or have to give out the digital coins that you own. You will be trading contracts and at no point will you trade the real cryptocurrencies. The one thing you will notice about some of the biggest traders is that they have a lot of restrictions on how you trade cryptocurrencies. They might even bar you from taking a particular position in your trade because they don’t want to take risks.

On the other hand, IG has gone the extra mile and allows you to go short or long on your cryptocurrency trades. It is a clear proof that the broker gives more attention to your benefits rather than focusing on itself and its money. You can trade the four major cryptocurrencies of the world including Ethereum, Bitcoin, Litecoin, and Ripple. These are the best cryptocurrencies for traders because even when they are volatile, they quickly regain their price drops. You can take advantage of their volatility after getting a basic sense of the market. You also have bitcoin cash available for trading when you sign up with IG.

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IG’s Trading Platforms and Applications

The world has changed quite a big in the past 10 years. Today, businesses realize that they have to make adjustments according to their customers as soon as possible. Traders have hundreds of online brokers to choose from today. If you as a broker do not offer them what they need, one of your competitors will. One of the things that have become old is the idea of sitting in front of a computer for trading. In the past, the concept was to be on a desktop computer and looking at charts the whole time to find the right time to enter into a trade. Today, a platform that’s limited to desktop devices is considered unfit.

For that reason, IG has worked not only on the desktop version of its trading platform but its portable iterations as well. First thing you should know here is that you can use the MetaTrader 4 platform, which is considered the best trading platform by traders and brokers all around the world. This platform is available on all of your devices. However, if you want an even smoother experience where you don’t even have to download anything, you can go with the web-based trading platform. This platform provides you a smooth and unchanged experience no matter which device you are on.  

You can also take advantage of the mobile applications. These mobile applications can be specific to the type of trading you want to do. There is a lot of information available about the trading platforms on IG’s official website. All the useful features and indicators that you need for making well-informed trading decisions are available on the platforms regardless of which one you choose. The company ensures that it protects your information through 256-bit encryption whether you enter your information on the web-based platform or the downloadable version of the software. Last but not least, you can use the software on Android and iOS devices without any compatibility issues.

Opening Your CFD Account with IG

The trading experience has been great for most of the traders who joined the IG platform. First of all, you can start a demo account with the broker if you want to know what the trading experience is going to be like. With a demo account, you can simulate the real trades with dummy credits in your account. This gives you a basic understanding of how the platform works and what trading is like. There are some things that make an account with IG the best account for any trader. One of the issues you face with most other brokers is the minimum amount that you have to deposit in the account to activate it.

There are some brokers that have brought that minimum down to even $100. However, even $100 can be a lot for some traders. Do not forget the fact that currency exchange rates can be hurting for traders from certain countries. An amount of $100 that seems small to you could be huge for them. With IG, you don’t have any minimum deposit requirements. You just open the account, deposit whatever funds you have available in the account, and start trading just like any other traders. The spreads are tight so most of the profit you make from your trades goes to you.

In addition to spreads, IG also has a commission model. Keep in mind that brokers make their money either through spreads or commissions. In the case of IG, it balances both the methods and tries to transfer the maximum benefit to the trader. You might find the idea of spreads and commissions a bit upsetting. However, you will be glad to know that all the educational material from IG is available to you for free. On the other hand, other brokers require you to maintain a minimum deposit in your account to access even the basic training material. Not to mention, you can only access the basic training material when you open a basic account. There are no such restrictions when you open an account with IG.

Trading Conditions for IG Traders  

One of the important things you want to know when you have signed up with any broker is the trading conditions. Trading conditions tell you how good and free you will feel when you are entering into trades with a broker. As mentioned earlier, IG ensures that it makes its platform easy for its traders. Yes, it is true that IG charges commissions and spreads, but you have to realize that it does that in certain markets. In some markets, you will be paying a commission on the trade and in some other markets, you will be paying only in the form of spreads.

Now, you cannot enter into big trades when you are a new trader. That’s because you don’t have enough funds in your account to control those trades. That’s when you need leverage i.e. a supporting hand from your broker to let you control big trades. However, even when you take advantage of leverage, you have to maintain a minimum in your account. That minimum is called margin. The margin requirements are extremely small when you are trading on the IG trading platforms. If you are trading currency pairs, you will have to maintain only 0.25% margin in your account. The margin requirements are only 5% when trading indices and shares. 

IG’s Care for Its Customers

After you have found out about trading conditions, the trading platform, margin requirements and leverage, you are left with one and the most important thing – customer service. That’s where a broker has to prove if it can hold true to its claims. This is another area where IG goes the extra mile to deliver the best customer service in the industry to its traders. You have a phone number where you can call and talk to a human to get help regarding your issues. You can also send an email if you have a detailed inquiry which is not very urgent. The best thing is that there are separate numbers for new and old clients. Your calls will be answered by the company representatives from 7am to 9pm from Saturday to Friday.

Bottom Line  

There is no doubt about the fact that IG is one of the most experienced brokers on the internet providing its brokerage services to more than 150,000 clients. It has reached the top of its service with the use of modern technology and top notch customer service. It makes trading easy for traders and lets its traders access all the training material for free. It brings its traders the assets from more than 15,000 markets, which is something most other brokers struggle with. If you or someone you know is interested in starting a trading career, IG is definitely among the best options you have.

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