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IG Index is a large broker that trades with a number of different types of financial instruments. Not just binary options. The main focus of the company is on CFDs (contract for difference). The company was formed in 1974 and is one of the largest finance companies in the UK. The company is part of the FTSE 250. A index of the 250 biggest companies in the UK.
The selection of binary options that you can trade with using IG Index is very limited. They only offer a very low number of different options and they are mainly based on different stock index. They offer a low number of different binary options based on currencies and commodities but they do not offer any options based on individual stocks.
IG Index is very popular among brokers due to their very high payout of 96% and due to the fact that you can close your positions at any time. The high payout makes it easy to make money.
IG index claim to no longer offer Binary options. This is not true. They are still offering options that are very similar to binary options. They are simply calling them Digital 100 options instead of binary options.
Short facts about IG Index
| Owner | IG Markets Ltd |
| License | Financial Conduct Authority (FCA) and by the UK Gambling Commission |
| Languages | IG is available in a large number of different languages including English and Spanish. |
| Mobile trading | Yes |
Trading platform
IG Index use a platform the have developed themselves. It contains section for trade with a number of different types of financial instruments. Not just Binary options. The platform is despite this easy to use and make it a breeze to trade with binary options.
The platform works good om most computers. They also offer a good mobile platform, that allow you to trade directly in your mobile.
Binary options can be sold at any moment and the platform will give you the currently value of them at all times. The value of the binary option is updated several times a second. .
Trading accounts
IG Index offer two different types of accounts that you can register for. A demo account that give you the chance to trade with play money or a standard account to which you can deposit and trade using real money.
They also offer two other types of accounts. These accounts are not open to every one but is reserved for traders that meet the requirements. These two accounts types are devoted to very active traders and traders with a high turnover. You are usually not promoted automatically. You have to apply to get your account promoted once you fulfill the requirements. These accounts are associated with a number of different perks.
Binary option trading
Binary options is not the main focus of IG Index and they offer a number of other financial instruments as well. The section for binary options is only a small section of the platform. It is to trade with the binary options that they do offer. The information on the screen is shown in real time and updated several times a second. This means that it is very important to make sure to check the rates used at the exact time you buy the option. If you do not you might find that you bought a binary option at another rate than what you indented.
The binary options section is well known for its high payout of 96% which makes it easier to make money than it with many other brokers. A very good feature is that the options can be closed at any time to secure you profit or limit your loss.
IG Index offer a number of different types of binary options. The maturity can be as short as 2 minutes and as long as one month (or more).
Underlying instruments
IG Index Only offer a small selection of binary options. The main focus off the options are stock indexes but they do also offer a limited amount of c
They also offer binary options based on other things than financial instruments such as the US jobless claim and US Non-farm Payrolls.
Commodities
You can find a small selection binary options based on the most traded commodities such as Gold, Silver and Oil.
Index
Indexes are the main focus off the binary options that you can trade with at IG Index . You can trade with more than 20 different including the most popular ones such as the NASDAQ and Dow Jones.
Currencies
They offer a small selection of binary options based on currency pairs. The number of pairs that you can trade on is limited but you can find all the most popular pairs such as EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY and GBP/USD.
IG Index does not offer binary options based on individual share.
Bonuses and other perks
IG Index does not offer any bonuses
Customer service
They offer a very good customer service that can be reached 24 hours a day during Sunday to Friday. During Saturdays the customer service is open 9am to 5pm.
You can contact the support by calling 0800 409 6789 or sending an email to helpdesk.uk@ig.com
Deposits and withdrawals
It is easy to deposit and withdraw money. There is a fee to use some of the banking alternatives.
Owner ship, licensing, etc
IG Index is owned and operated by IG Markets Ltd. IG Markets Ltd operates a number of different subsidiaries in different countries. They are licensed by Financial Conduct Authority (FCA), by the UK Gambling Commission as well as by a number of local agencies in local markets.