IG Group (IG), founded in 1974 by Stuart Wheeler “as the world’s first spread betting firm,” is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) conglomerate that “empowers informed, decisive, adventurous people to access opportunities in financial markets.”
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Unlike most brokers on this list, IG does accept U.S. forex traders, which has been the case since early 2019 when the company re-entered the U.S. market.
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Globally, IG is for anyone wanting to trade CFDs. In the U.S., it’s for clients who want to trade the foreign exchange markets. It’s as simple as that. To deliver on this successfully, IG has decided to adopt the time-honored adage, “go big or go home” because, well, it can.
Low spread costs, emphases on customer service and education, actionable research, and functional user interfaces make this broker well-suited to compete in the online forex broker market. This company is ranked as the winner of AskPaccosi’s Best Forex Broker for U.S. Traders in 2020.
Pros
- Extensive range of offerings
- Accepts U.S. clients
- Regulated by FCA (U.K.) & CFTC, NFA (U.S.)
- Emphasis on education and research
- Offers protection for U.K./E.U. client accounts
Cons
- No account protection for U.S. clients
- No guaranteed stop losses for U.S. clients
- No copy trading or back-testing integration on IG platform
- High share-CFD fees
