Broker of the Week Oanda – Top US Forex Broker For USA Traders. - Read Full Review

Best broker for Best online broker for US traders



IG is a global forex broker that operates in several countries. IG US LLC operates the IG brokerage brand in the United States.



Visit Broker

IG is a global forex broker that operates in several countries. IG US LLC operates the IG brokerage brand in the United States. It is a subsidiary of the IG Group which was established in 1974 and serves over 178,000 clients from all over the world. Client trades are executed promptly on the renowned MT4 platform as well as the broker’s proprietary platforms.

Risk disclosure

Forex trading involves risk. Losses can exceed deposits.

Spreads up to 20% Lower on EUR/USD vs. Top Two US Brokers*

*IG US minimum spreads are equal to or lower than, Oanda, or TDAmeritrade minimum spreads across the top 4 traded currency pairs (EUR/USD, USD/JPY, GBP/USD, AUD/USD), as observed on May 25th, 2021. IG US minimum EUR/USD spread is at least 20% lower. Excludes competitors’ commission-based products.


Overall Rating

IG offers over 80 currency pairs for trading on its platforms. When compared to other US brokers, the spread is competitive. The broker is committed to supporting its clients with training, analysis and various trading tools. Mobile trading is fully supported with trading apps for the MT4, the IG academy and its proprietary platform.

  • • Regulated by the NFA.
  • • Established and experienced broker with a huge capital base and global presence.
  • • Supports its traders with multiple tools including alerts, Autochartist and up-to-date news and analysis.
  • • Partnered with fintech firms to provide trading signals at no cost to all clients.
  • • Features the ‘IG academy’ which is exhaustive and well organized.
  • • Only forex trading is offered.
  • • No social trading.
  • • Inactivity fees and currency conversion fees are charged.
  • • Withdrawal fee is $15 for wire transfers
  • • Not available to residents of Ohio, USA.



IG incorporates its trading fees into the spread but also charges inactivity fees.

How Much Does Forex Trading Cost?


When you trade FX you do so with leverage – meaning you can win or lose, a significant amount more than your initial deposit – called your margin. Though not actually a cost to you, the margin you pay makes a big difference to the affordability of your forex trade.


Your key payment for forex is the spread – the difference between the buy and the selling price – our charge for executing your trade. We work to keep our spreads among the lowest in the business.

Major Forex Pairs

For every pair IG US offers a standard contract size (one contract = 100.000 of the first-named currency), with a minimum trade size of 0.01 lots (equivalent to 1000 of the first-named currency).

Market nameValue
per pip
Min spreadAve spread*Margin req

*Average spread (Monday 00:00 – Friday 22:00 GMT) for the 6 weeks ending September 25, 2020.

If you hold a position overnight there will be a funding adjustment applied to your account.

IG offers competitive spreads in forex trading. It employs floating spreads which widen in times of volatility and narrows in times of liquidity. Considering the benchmark EURUSD; its minimum spread is 0.8 but the average is 0.9 and the margin requirement is 2% or leverage of 1:50. For the majors, the highest average spread is 6.5 for the GBPCAD pair while its margin is 5%. Its minimum spread is 4 pips.

For the minors, GBPZAR has the highest average spread at 275.8 and a margin of 7%. The lowest is 2 pips for the ZARJPY pair and a margin of 7%.

MXNJPY has the least average spread of 0.8 for the exotics while the GBPMXN with an average spread of 404.7 is the highest.

For the emerging markets, the highest average spread of 2113.1 is for the EUR RUB pair while the least is 1.1 for the RUBJPY.

The Scandinavian pairs feature the SEKJPY with an average spread of 1.5 as the least and the GBPSEK with an average spread of 109.5 as the highest spread.

For the Australasian pairs, the AUDSGD has the highest average spread of 8.4 while the AUDJPY has the least spread of 2.3 pips.

Currency Conversion charges of 0.5% are charged when you trade currencies that are not in your account’s base currency.

An inactivity fee of $12 is charged monthly from accounts that have not opened positions for at least 2 years.

Overnight funding fees are charged from accounts that maintain open positions overnight.

Account Opening

It is very fast and easy to open a new account with IG

Click on ‘create live account’ on the IG website and fill the form that displays. Only one account is required to access all the available trading platforms. It is mainly for US residents, but residents of Ohio are not allowed to open accounts.

What is the minimum deposit at IG US LLC?

The minimum deposit is $250

Account types

Only the ‘IG trading account’ is available. From your dashboard, you can add an ‘MT4 account’ when your account has been approved.


Demo accounts are automatically available and it is preloaded with $10,000 in virtual funds for trading practice. But, from the clients’ area, you can increase the virtual funds to a maximum of $10,000,000.00

Can you open an account?

Select your country of residence to see if you can open an account at IG US!

Deposit and Withdrawal


IG accepts deposits made through the ACH or wire transfers.


Automated Clearing House (ACH) payments are accepted for deposits.

Clients can also make payments or withdraw from their accounts through bank wire transfers.

Withdrawals via wire payments ($15).

The payment options are limited as ePayment gateways like PayPal, Skrill and cryptocurrencies are not accepted.


Account base currencies

The base currency is automatic and it is the USD.

Trading Platform

The platforms provided are: the MT4, IG online platform and ProRealTime charting package


IG Online Forex trading platform: This is the html-5 based proprietary platform developed by IG. It features a customizable workspace, split charts, technical indicators, trading alerts, trading signals, economic calendar, news, etc. On the platform, clients can trade over 80 forex pairs.

IG Forex trading apps: These are android and iOS apps developed by IG for forex trading. It features trading alerts, chart trading and other features.

MetaTrader 4: This is a very popular third-party platform used widely in forex trading. It supports automated trading as well as platform extension using plugin apps. The MT4 comes preloaded with about 30 technical indicators, complex charting package and risk management tools. The IG MT4 is available as a windows desktop application and as mobile apps for iOS and android devices.

ProRealTime: This charting package comes with over 100 technical indicators, unlimited timeframes, customizable trading hours and an enhanced interface. It is fully integrated into the proprietary IG online trading platform and it is free for frequent traders who open up to 4 positions in one month, otherwise, its cost is $40 every month.

Markets and Products


Over 80 forex pairs can be traded on the IG trading platforms

Generally, CFD trading is not allowed in the United States, so, IG US are only left with forex trading services. Over 80 currency pairs can be traded on its platforms. IG grouped them as follows:

  • Major pairs: Beside the traditional four major that consists of the most popular pairs such as EUR/USD, USD/JPY, GBP/USD and USD/CHF, IG US also includes three most-traded ‘commodity currencies’ against the US dollar, which are AUD/USD, USD/CAD and NZD/USD to its major pairs.
  • Note that the IG grouping is a little different from the traditional grouping of major pairs. While most lists only include these seven majors, some traders would also include key currency pairings which don’t feature the US dollar at all – otherwise known as ‘cross currencies’ – in their list of major currencies. Some of the most traded of these are the GBP/EUR, EUR/CHF and EUR/JPY.
  • Minor pairs: There are 13 pairs and it excludes the USD. Some of them are GBP/JPY, EUR/CAD, ZAR/JPY, etc.
  • Exotic pairs: They are 23 pairs and includes USD/MXN, EUR/CZK, USD/PLN, etc.
  • Emerging markets: There are 21 pairs and some of them are: USD/RUB, EUR/CNH, RUB/JPY, etc.
  • Scandinavian: There are 14 pairs and includes GBP/SEK, EUR/NOK, GBP/DKK, etc.
  • Australasian: There are 17 pairs including AUD/SGD, EUR/NZD, GBP/AUD, etc.


IG assists its clients with news, analysis, trading alerts, signal, Autochartist, MT4 tools and rebates.

News and trade ideas

This up to date market news focuses on the forex markets, big moves, charts and trading insights. It analyzes currency pairs and advises traders on the pair to watch out for. It uses technical charts, analysts’ videos and news reports to present the analyses reports.

IG trading alerts

IG provides free, automated alerts on financial events and on market moves. First, the trader customizes his alerts settings and chooses the price change alerts, economic results alerts and/or technical indicator alerts. The alerts can be sent through push notifications, emails or SMS.


This is a powerful third-party technical analysis tool that automatically scans the charts and alerts the trader when it finds trading opportunities according to the trader’s customized specifications. IG clients get free access to this MT4 platform tool.

IG trading signals

IG has partnered with ‘Autochartist’ and ‘PIA-first’ to bring free trading signals to its clients. It is integrated into the IG online forex trading platform as well as the mobile apps.

MT4 Add-ons and indicator

The IG MT4 package comes with 6 add-on indicators and 12 plugin apps designed to further assist the trader. The apps are:

  • Mini terminal
  • Trade terminal
  • Stealth orders
  • Correlation matrix
  • Alarm manager
  • Connect
  • Market manager
  • Sentiment trader
  • Tick chart trader
  • Correlation trader
  • Candle countdown
  • Session map


IG appreciates its high-volume traders by giving automatic rebates every month. Traders can withdraw the rebate or use it for continuous trading. The rebates are as follows:

  • Tier 1: Trade up to $100 million and receive a rebate of 5% on your spread.
  • Tier 2: $250 million worth of monthly trades attracts a 10% rebate on your spread charges.
  • Tier 3: Trade up to $500 million and get a 15% rebate on your spread.

Customer Service

The IG customer support team is always ready to assist you through various channels. ­

The client support team works 24/6, from 3 am Saturday to 5 pm Friday (EST). The office address is located in Chicago, Illinois but they can be reached on a phone or email. They cannot be contacted on YouTube or any other social media channels for account related questions.

IG support team is available even on Sundays.


The IG academy is replete with comprehensive lessons for traders at all levels.


The website features the ‘IG academy’; which is a free and well organised training resource to assist traders. The courses are divided into beginner, intermediate and advance levels. Each course consists of short lessons, interactive exercises, videos and graphics and ends with a quiz to test how well you have assimilated the lesson. There are a total of 8 courses. You must be a registered client before you can take the courses.


Webinars are frequently scheduled on the IG website. The in-house team of experts handles all seminars with the aim of giving clients personalised coaching during the live sessions.

Apart from the trading academy, there are a series of articles under the ‘Learn to trade’ section of the website. The articles focus on risk management, strategy and planning. Also, there are detailed articles on forex trading; how it works, how and why you should trade forex.

A glossary containing more than 110 trading terms and their definitions is provided.

The IG Academy is also available as a mobile app. It is developed for android and iOS devices and can be downloaded from their respective stores. Through the app, you will be able to join webinars, access videos, lessons and quizzes from the academy.



IG US is regulated by the NFA.

Is IG regulated?

Yes. IG is registered as a Retail Foreign Exchange Dealer (RFED) and Introducing Broker (IB). They are regulated by the National Futures Association (NFA).


The IG brand boasts of a wealth of experience, a huge client base, technological infrastructure and financial stability, so, it can be concluded that IG is highly reliable.

How you are protected

Secured Socket Layer (SSL) technology protects all clients when using the IG website and platforms. This protects internet hackers who are out to steal the trader’s identity or credit cards.

Bottom Line

IG is a global broker that operates in over 15 countries. IG US is regulated by the NFA. In strict compliance with the regulatory provisions, only forex trading is offered and at a maximum leverage of 1:50. Spreads are competitive and over 80 currency pairs are available. The IG online trading platform is customizable and loaded with trading tools.

Additionally, the MT4 is also available. Mobile trading is fully supported via mobile trading apps. Price alerts, Autochartist, trading signals, market news, and analysis are some of the tools provided to traders. The IG Academy is designed for all levels of traders and it is free.

But, the broker charges withdrawal fees on wire transfers, charge currency conversion fees, and offers no social trading or managed accounts.

In summary, IG is a well-established broker that is regulated and trusted, therefore it is recommended to all US forex traders.


Risk Disclaimer

Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

IG US is a division of IG Group, a global financial services company that offers online trading in a range of products, including forex, contracts for difference (CFDs), and spread betting. IG Group was founded in 1974 and is listed on the London Stock Exchange. IG US is headquartered in New York and is regulated by the US Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA).

IG US offers a range of trading platforms, including its proprietary IG Trading platform and the popular MetaTrader 4 (MT4) platform. The company also offers a range of tools and resources for traders, including market analysis and educational materials. In addition to its online trading services, IG US also operates physical offices in several locations around the world.

Some additional things to know about IG US:

  • IG US is a leading online trading company that offers a wide range of financial instruments for trading, including forex, indices, commodities, and bonds.
  • The company charges spreads and commissions on trades, with the specific fees depending on the product and account type.
  • IG US offers negative balance protection to ensure that clients cannot lose more than their account balance.
  • The company has received a number of industry awards, including Best Forex Broker at the 2020 Forex Awards.
  • IG US has a strong focus on customer service and offers support in a number of languages.
  • In addition to its US operations, IG Group has a presence in several other countries around the world.

Overall, IG US is a well-regarded online trading company that offers a range of products and services to traders in the US and around the world.

Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

Advertiser Disclosure: helps investors across the globe by spending over hours each month testing and researching online brokers.

How do we make money? Our partners compensate us through paid advertising.

While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

While has some data verified by industry participants, it can vary from time to time.

Operating as an online business, this site may be compensated through third-party advertisers.

Our receipt of such compensation shall not be construed as an endorsement or recommendation by, nor shall it bias our reviews, analysis, and opinions.

Best Forex Brokers Reviews
Reset Password
Compare items
  • Total (0)

Top 3 Stock Brokers

  • Oanda – Top US Forex Broker For USA Traders.


  • Interactive Brokers Review 2021


Top 3 Forex Brokers

  • Oanda – Top US Forex Broker For USA Traders.


  • Interactive Brokers Review 2021