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IG CRYPTO REVIEW

Table of Contents

"Honestly I love being able to speculate on the various crypto coins without complicated processes of buying/owning coins. Really enjoying trading crypto on IG, especially the Crypto 10 Index"
Corey Ojeda
FX Trader & Guru

Get Started with IG

Go

OVERVIEW

1
CRYPTO PAIRS
1
COUNTRIES SERVED
1 +
LANGUAGES AVAILABLE
1
INNOVATIVE PRODUCTS
01

THE BIG PICTURE

IG was founded in 1974 and is one of the oldest online platforms in the TradFi world. The company provides more than 17,000 markets for customers across five continents. The highly regulated and publicly listed (LSE) platform recently entered the crypto scene, allowing users to trade seven different cryptocurrencies, like BTC, ETH, and LTC, among others.

But wait, IG isn’t like any other exchange that we have reviewed. Instead of trading coins, IG gives you the option to trade cryptocurrency CFDs (contracts for difference), so you don’t actually own any digital assets (these are cash-settlement derivatives). Still, you can speculate on the future price of a digital asset in either direction (short or long).

Read everything you need to know in this honest bare-bones IG review.

Check out IG
mega-PLATFORM THAT OFFERS CRYPTO
02

FEES

Trading fees on IG are very complicated. Since you aren’t trading in the asset but speculating on the price fluctuations (which usually comes with leverage), you’ll have to bear the costs of spreads, overnight fees, and inactivity fees.

  • Spreads – IG charges fixed unit amounts for spreads. Learn more about it here.
  • Overnight Fee – Varies on the CFD you are trading. Here’s a quick overview:

 

Crypto CFD

Overnight Fee

Bitcoin

 A daily overnight funding charge of 0.0694% (25%             per Annum)

Ether/Bitcoin, Bitcoin Cash/Bitcoin,  and Crypto 10

  0.0625% (22.5% per                    annum)

All other cryptocurrency positions

  0.0764% (27.5% per-                    annum)


You’ll also pay additional fees for long and short positions. Find them here.

Check out FEES
FLUCTUATING FEES
03

PRODUCTS

IG currently offers seven CFD-based assets for cryptocurrency trading. These include Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), NEO (NEO), Stellar Lumens (XLM), and the Crypto 10 Index (a mixed bag of the ten largest tokens, selected and weighted by market capitalization).

FIND PRODUCTS
7 CRYPTO PRODUCTS
04

AVAILABILITY

As a fully-licensed brokerage platform, IG offers its services all over the world.

READ MORE
TRULY GLOBAL!
05

PROS

  • One of the oldest platforms (since 1974)
  • Highly regulated and licensed to operate globally
  • Secure and reliable
  • Comparatively low fees
  • Cross-compatible platform
  • Supports beginner, advanced, and institutional traders
  • Improved liquidity
SUPER ESTABLISHED & GREAT TOOLS
06

CONS

  • Finding relevant information is difficult
  • No copy trading, backtesting, or automation without third-party integrations
  • No actual cryptos, only CFD products
  • Extremely limited selection of crypto assets
IMPORTANT TO NOTE
07

PAYMENT METHODS

  • Debit Cards
  • Credit Cards
  • FPS (for Hong Kong Dollars)
  • Wire Transfers
Fiat ONLY
08

PRIVACY & SECURITY

IG is a publicly-traded (listed) company with several Tier-1, Tier-2, and Tier-3 global trading licenses. It is a regulated FTSE 250 company and offers 2FA, biometric verification, and an auto-logout feature to prevent attackers from benefiting from idle/inactive time. Simply put, IG is probably the most secure trading platform that you’ll ever find.

ULTIMATE SECURITY
09

WHO'S IG GOOD FOR?

  • Someone who wants to get into crypto trading without the risk of owning cryptos
  • Professional Traders from both DeFi and TradFi
  • Investors seeking low-cost directional hedging
  • Beginners (IG has a ton of courses to help you gain knowledge)
GREAT FOR PROS AND NEWBIES ALIKE

Get Started with IG

Go

THE FINE DETAILS

General Information

Founded In: 1974
Official Website: https://www.ig.com/
Support: https://www.ig.com/en/contact-us
Help Center: https://www.ig.com/en/help-and-support
Start Now

Registration

To set up your account on IG, fill out a simple form that asks for your country, name, email address, preferred username, and password. Once done, get the required KYC/AML verification done. You should receive an update in 1-2 days, following which you can fund your CFD wallet and start trading.
Register

Support

We aren’t exaggerating a bit when we say that you’ll most probably never need to get in touch with the Support team. The website features a ton of user guides, tutorials, FAQs, and even courses to help you expand your knowledge of trading, which are more than enough resources.

You can also reach out to the community forums and get answers. And if you really need support, you can get a hold of customer service reps via phone, email, Twitter, and live chat - 24 hours a day.
Check it out

Regulation

IG is a fully-regulated platform with top-tier licenses to operate across the world. It currently offers 17,000+ markets and has more than 313,000 active clients globally.

In the US, it is a registered RFED with the CFTC and a member of the NFA. IG is also registered with ASIC (Australia), IIROC (Canada), SFC (Hong Kong), FSA (Japan), MAS (Singapore), FINMA (Switzerland), and FCA (UK).

Features

While IG has a ton of products, we’ll focus on the cryptocurrency CFDs in this review. The platform offers seven different CFDs for Bitcoin, Ether, Bitcoin Cash, Litecoin, EOS, NEO, Stellar, and the Crypto 10 Index. There’s a demo account that you can try before getting into the real deal, and you’ll also receive access to live prices on all the markets and competitive fees. Furthermore, you can access your account, monitor your trades, and place new orders through a web platform, mobile apps, L2 dealer, and via MetaTrader 4.
Read More

Ease of Use

The platform is easy to use. But if you don’t fully understand the concept of CFDs and the underlying risks, we highly recommend that you take some time to learn them. You can access IG from any device. Navigating the website and platform is simple and intuitive, with all the essential features available right at your fingertips.

FREQUENTLY ASKED QUESTIONS

Common questions we get asked about IG

IG doesn’t have actual cryptos, but rather it offers crypto CFDs (Contract for Differences) which are derivative contracts settled in cash.

No, but you can buy Bitcoin CFD.

IG doesn’t offer cryptocurrency trading. It currently offers seven CFD-based assets for cryptocurrency trading, including BTC, ETH, BCH, LTC, EOS, NEO, XLM, and the Crypto 10 Index (a mixed bag of the ten largest tokens, selected and weighted by market capitalization).

IG is a great choice for traders who want to trade crypto without going through the hassles of understanding how crypto exchanges work, owning any crypto, or managing a wallet.

IG is a publicly-traded (listed) company in the United Kingdom with several Tier-1, Tier-2, and Tier-3 global trading licenses, so yes, IG is very legit.

IG currently offers seven CFD-based assets for cryptocurrency trading.

IG is one of the oldest forex trading platforms globally. It serves customers across five continents, covering more than 17,000 markets.

BLC READERS SHARE

"I’ve been a loyal IG customer for over 20 years now, and they never cease to amaze me. After reading up on blockchain, I’m glad to see that IG is already supporting my investing ambitions with their cryptocurrency offerings"
Beth BerryAntique Dealer
"I’m not really an active trader, so IG’s crypto index has been super valuable for adding exposure to the crypto market without having to master blockchain’s steep learning curve"
Angela HouchinBank Clerk
"I primarily use IG to hedge my positions thanks to the inclusion of margin trading on their platform. They have impressive customer support and very affordable fees, making this a more attractive option for taking short positions than via margin trading on a crypto exchange"
Sheldon CastilloPro Trader
"Longtime IG fan here. Very pleased to see they are always innovating with the times by adding support for cryptos. Have already dabbled in the Crypto 10 Index and am looking forward to learning about the other cryptos available on the platform"
Michael H. DarganBarber
"IG has been a perfect place for me to implement my automated crypto strategies through their API service. Setting it up was quick and easy, and the results already speak for themselves"
Ryan E. SimekProgrammer
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