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