Home / Fintech / The world’s best Forex companies: Profiling the IC Group

The world’s best Forex companies: Profiling the IC Group

IG Group is the biggest CFD broker in the UK, and the 7th biggest retail Forex broker globally, with a daily trade volume of $ 7.8 Billion. The company was started in 1974 by Stuart Wheeler under the name IG Index, and is currently under the leadership of Peter Hetherington, as CEO.

The company has been online since 2003 and offices in 16 countries, with about 140,000 active clients worldwide. However people from the US are restricted to open accounts with them. IG Group’s main business is trading in leveraged products like contract for differences (CFDs), spot Forex, spread betting, binary options through the Nadex brand, as well as performance only stockbroking service.

• Regulated broker in multiple jurisdictions

The company has offices in Chicago, Dusseldorf, Madrid, Milan, Paris, Singapore, Stockholm and Tokyo. But to operate in different domestic markets, the company had to comply with regulatory requirements, as such their businesses are divided into subsidiaries. Nonetheless, to meet constant regulatory changes, the company has a dedicated compliance team which ensures compliance with regulatory requirements. As a result the interest of the client is maintained.

• Multiple choices of trading platforms

The company provides a selection between core platforms and specialist platforms to clients. The core platforms uses advanced technology that optimizes mobile apps for smartphones and other responsive devices. Their specialized platforms (i.e. Level 2 Dealer Platform, ProRealTime Platform, or MetaTrader 4) are aimed at professional traders.

• Customer support and educational support

IG with its decades of experiences also established an educational center. As part of this mechanism, practically materials are available to customers. The company also have a team of financial analysts that prepare daily market updates. IG also has regular seminars in Dublin and London and their website is flush with detailed articles and help-guides to improve clients’ trading skills. The website is accessible in English, Chinese, French, German, Italian, Japanese, Portuguese, Russian, Spanish and Swedish. However, with all the data, the user-friendliness of the site is been compromised, as it is completed to navigate.

In addition the company does provide a 24/7 support via phone, Facebook, Twitter, and email. Plus, to help clients the company offers their clients access to a free demo account.

It should be noted that this company provides its clients to trade out-of-hours on the FTSE, Germany 30 and Wall Street on Sundays.

• Wide range of markets

Clients of GI have access to more than 10 000 markets through the two types of accounts. The standard account aimed at normal traders has a minimum trade of $1 and a maximum of $300. The premium account is aimed at high net worth traders.

• Commissions and spreads

Cost of trading is dependent on the platform utilized. For example, traders can select from over 6000 shares globally. The company offers spreads as low as 0.1% on spread bets, in addition the commissions is from 0.1% on CFDs, depending on the host country for the stock. Margins begins at 5%.

 

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