Is IG Good for Beginners? My Honest Review
- expertise:
- CFD Trading, Forex, Derivatives, Risk Management
- credentials:
- Chartered ACII (2018) · Trading since 2012
- tested:
- 40+ forex & CFD platforms with live accounts
- expertise:
- Platform Testing, Cryptocurrency, Retail Investing
- credentials:
- Active investor since 2013 · 11+ years experience
- tested:
- 50+ platforms · 200+ guides authored
- expertise:
- Broker Comparison, ISA Strategy, Portfolio Management
- credentials:
- Active investor since 2013 · 11+ years experience
- tested:
- 40+ brokers with funded accounts
- expertise:
- CFD Trading, Forex, Derivatives, Risk Management
- credentials:
- Chartered ACII (2018) · Trading since 2012
- tested:
- 40+ forex & CFD platforms with live accounts
- expertise:
- Platform Testing, Cryptocurrency, Retail Investing
- credentials:
- Active investor since 2013 · 11+ years experience
- tested:
- 50+ platforms · 200+ guides authored
- expertise:
- Broker Comparison, ISA Strategy, Portfolio Management
- credentials:
- Active investor since 2013 · 11+ years experience
- tested:
- 40+ brokers with funded accounts
How We Test
Real accounts. Real money. Real trades. No demo accounts or press releases.
What we measure:
- Spreads vs advertised rates
- Execution speed and slippage
- Hidden fees (overnight, withdrawal, conversion)
- Actual withdrawal times
Scoring:
Fees (25%) · Platform (20%) · Assets (15%) · Mobile (15%) · Tools (10%) · Support (10%) · Regulation (5%)
Regulatory checks:
FCA Register verification · FSCS protection
Testing team:
Adam Woodhead (investing since 2013), Thomas Drury (Chartered ACII, 2018), Dom Farnell (investing since 2013) — 50+ platforms with funded accounts
Quarterly reviews · Corrections: [email protected]
Disclaimer
Not financial advice. Educational content only. We're not FCA authorised. Consult a qualified advisor before investing.
Capital at risk. Investments can fall. Past performance doesn't guarantee future results.
CFD warning. 67-84% of retail accounts lose money trading CFDs. High risk due to leverage.
Contact: [email protected]
Quick Answer: Is IG Any Good for Beginners?
Yes, IG is a strong option for beginners. Its user-friendly interface, robust demo account, and wide range of learning materials make it easier for new traders to get started. While there is some initial learning involved, IG’s supportive tools and educational focus help smooth the transition, making it a reliable choice for first-time traders.
Introduction
When I first considered day trading, finding a beginner-friendly platform was overwhelming. I researched countless brokers, but many were either too advanced or lacked adequate support for new traders. That’s when I came across IG.
IG stood out as a platform that catered to both beginners and experienced traders. Its clean interface, robust demo account, and extensive educational content made it easy for me to get started. At first, I was intimidated by the sheer number of features, but IG’s thoughtful design and support quickly won me over.
Today, I confidently recommend IG to any beginner looking to start their trading journey. It’s not just about executing trades—it’s about learning the craft, managing risks, and building confidence. In this article, I’ll share why IG is my top choice for beginners, including its benefits, challenges, and features that make it ideal.
Why Beginners Are Drawn to IG
Key Features That Attracted Me to IG
| Feature | Why It Helped as a Beginner |
|---|---|
| Demo Account | Risk-free environment to practice trades with real-time data |
| Educational Resources | Webinars and tutorials simplified trading concepts |
| User-Friendly Design | Intuitive layout made navigating tools and charts easy |
What Features Make IG Beginner-Friendly?
Intuitive Interface for Easy Navigation
One of the standout features of IG for beginners is its intuitive and user-friendly platform. When I first started, I expected to feel overwhelmed by complex menus and technical jargon, but IG’s interface proved me wrong. Navigating through markets, charts, and trading tools felt seamless and logical.
For example, IG’s dashboard organizes everything clearly—your open positions, account summary, and access to educational tools are all just a click away. The charting tools are beginner-friendly but still advanced enough to explore deeper technical analysis when you’re ready. Even as someone completely new to trading, I quickly found myself executing trades without hesitation.
Another helpful feature is IG’s customization. You can tailor the layout to prioritize the tools you use most often, which made me feel more in control. Unlike other platforms where I spent ages finding simple functions, IG made every task straightforward, allowing me to focus on learning and improving.
Comprehensive Demo Account
The demo account is one of the main reasons I recommend IG for beginners. Before trading with real money, I spent weeks practicing with the demo account, which provides £10,000 in virtual funds. This gave me the freedom to explore different markets, test strategies, and make mistakes without financial consequences.
I’ll never forget the first strategy I tested. It was a basic forex trade on the EUR/USD pair during a period of low volatility. Using the demo account, I was able to experiment with stop-loss orders, leverage, and scaling trades. The feedback was immediate, and I could clearly see how my decisions played out in real time.
What’s even better is that the demo account mimics live trading conditions. This made the transition to real trading smoother because I already understood the platform and market dynamics. IG doesn’t rush you into live trading, which I appreciated as a beginner trying to build confidence.
Benefits of IG’s Demo Account for Beginners
For any new trader, IG’s demo account is an invaluable resource for building foundational skills.
| Feature | Benefit |
|---|---|
| Virtual Funds (£10,000) | Risk-free environment to test strategies |
| Real-Time Market Data | Simulates live trading for better learning |
| No Time Limit | Practice until you’re confident to start live trading |
Educational Resources and Support
IG excels at providing educational support for beginners. As someone new to trading, I found their extensive library of tutorials, live webinars, and trading guides incredibly helpful. These resources break down complex trading concepts into digestible, beginner-friendly lessons.
One webinar that stands out was on “Risk Management Basics.” It explained how to use stop-loss orders and position sizing effectively, something I hadn’t grasped before. After applying these techniques, I noticed a significant improvement in my confidence and ability to control losses.
IG also offers daily market insights and analysis, which are great for beginners trying to understand market trends. The platform’s in-depth guides cover everything from forex basics to advanced strategies, making it a one-stop resource for growing as a trader.
For someone just starting out, IG’s educational resources act as a safety net, ensuring you’re always supported in your learning journey.
What Frustrates Me About IG?
Are Fees a Dealbreaker?
While IG offers competitive spreads and transparent pricing, the costs can add up for high-frequency day traders like me. Spreads on less popular instruments or during low liquidity periods tend to widen, impacting profitability. There are also overnight fees for holding leveraged positions, which can be a downside if trades don’t close quickly.
I remember a time when I was holding a forex trade on GBP/JPY overnight, expecting the market to hit my target during the London session. The trade didn’t close, and I was hit with a noticeable fee the next day. It wasn’t a dealbreaker, but it reminded me to factor in these costs when trading.
Summary of IG Fees for Day Traders:
| Fee Type | Details |
|---|---|
| Spread | From 0.6 pips on major forex pairs; varies by market |
| Commission (Shares) | From $0 (US shares) to £3 per trade (UK shares); depends on market & volume |
| Overnight Funding | Charged on leveraged positions held past market close (varies by asset) |
| Currency Conversion | ~0.5% charge on trades in non-base currency |
| Inactivity Fee | $12/month after 2 years of no trading activity |
| Withdrawal Fees | Free for bank transfers and cards (minimums may apply) |
| Platform Fee | None for web and mobile; optional ProRealTime charting costs £30/month* |
What Challenges Might Beginners Face with IG?
Is the Platform Overwhelming at First?
While IG is beginner-friendly, the platform can feel overwhelming at first due to the sheer number of tools and options available. When I first logged in, I was greeted by charts, trading options, and risk management tools that I didn’t fully understand. It took me some time to figure out which features I needed as a beginner and which I could ignore for the moment.
One mistake I made early on was diving into multiple markets simultaneously. I was trying to trade forex, indices, and commodities all at once, which spread my attention too thin. If I could go back, I’d focus on just one or two markets to start.
To make the learning curve less intimidating, I recommend starting with IG’s demo account and watching their beginner tutorials. Also, customize the platform to hide advanced tools until you’re ready to use them. Over time, the interface becomes second nature.
Are the Fees a Concern for New Traders?
For beginners, understanding IG’s fee structure is crucial. While IG is transparent about costs, new traders might overlook how spreads and overnight fees affect their profits. I learned this the hard way when I held a forex position overnight, only to realize the next day that the holding fee had eaten into my gains.
IG charges spreads on trades, and holding leveraged positions incurs overnight financing fees. However, for day trading or short-term trades, these costs are manageable. My advice? Start small and focus on day trades to minimize fees until you fully understand how they impact your returns.
Summary of IG Fees for Day Traders:
With proper planning, IG’s fees are manageable, even for new traders.
| Fee Type | Details | Impact on Beginners |
|---|---|---|
| Spread | Built into the trade price | Affects every trade |
| Overnight Fees | Charged for holding positions overnight | Avoid by closing trades same day |
| Guaranteed Stop Fees | Small premium for added risk control | Optional but worth considering |
How Does IG Compare to Other Platforms for Beginners?
What IG Offers That Others Don’t
When comparing IG to other platforms, its strengths as a beginner-friendly broker stand out. One of the key advantages is the breadth of markets. With over 17,000 instruments, IG offers far more variety than competitors like eToro or Plus500, which typically focus on fewer asset classes. For beginners, this means the ability to explore different markets without needing multiple accounts.
Another major strength is IG’s demo account. Unlike some platforms that restrict demo use after a trial period, IG provides unlimited access, allowing beginners to practice at their own pace. Its educational resources also go deeper than most brokers. The combination of webinars, tutorials, and real-time market analysis sets IG apart as a learning platform.
Finally, IG’s interface balances usability and advanced features. While brokers like MetaTrader offer extensive tools, they lack IG’s polished and intuitive design, which is critical for someone just starting. These features made IG my top choice when I was learning the ropes.
Where Other Platforms Might Be Easier
While IG excels in many areas, some platforms may feel simpler for complete beginners. For instance, SpreadEX’s minimalist design strips down trading to the basics, which can reduce the intimidation factor. Similarly, eToro’s social trading features allow beginners to copy experienced traders’ strategies, making it easier to get started.
That said, these platforms often sacrifice depth for simplicity. As I progressed in my trading journey, I found IG’s comprehensive tools and wider market access far more valuable. While others may work for a quick start, IG’s versatility ensures it remains a long-term solution as you gain experience.
Tips for Beginners Using IG
Start Small with the Demo Account
Focus on a Few Markets at First
Take Advantage of IG’s Risk Management Tools
Should Beginners Choose IG?
In my experience, IG is one of the stronger platforms for beginners. Its straightforward interface, well-designed demo account, and solid educational materials make it easier for new traders to get started, while access to thousands of markets allows room to learn and progress.
Although the platform can feel feature-heavy at first, the demo account enables risk-free practice, and built-in tools such as stop-losses and guaranteed stops help manage downside risk. The main learning curve is understanding spreads and overnight fees, but these are manageable with basic planning. Overall, IG is well suited to beginners who want a platform they can continue using as they gain experience.
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You Invest
£300
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68% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
FAQs
Why is IG considered beginner-friendly?
IG is considered beginner-friendly because it offers a combination of intuitive tools, comprehensive educational resources, and a demo account for practice. The platform’s clean design allows beginners to navigate easily, while features like webinars and trading guides help simplify complex concepts. Additionally, IG provides excellent risk management tools, like stop-loss orders, which are crucial for new traders learning to protect their capital.
How does IG's demo account work for beginners?
IG’s demo account is a valuable tool for beginners. It offers £10,000 in virtual funds, allowing users to practice trading in real-time market conditions without risking any money. The account has no time limit, so beginners can take their time to explore the platform, test strategies, and familiarize themselves with different markets. It’s the perfect way to build confidence before transitioning to live trading.
What educational resources does IG offer for beginners?
IG provides a wide range of educational resources to help beginners learn trading. These include live webinars, step-by-step tutorials, trading guides, and a library of articles on various markets and strategies. IG also offers daily market insights and analysis, helping beginners stay informed about trends and trading opportunities. These resources are designed to build foundational knowledge and gradually advance your skills.
Are IG’s fees manageable for beginners?
Yes, IG’s fees are manageable for beginners, but it’s important to understand their structure. IG charges spreads on trades and overnight financing fees for leveraged positions. Beginners focusing on day trading or short-term trades can avoid most overnight fees. Additionally, IG is transparent about its pricing, allowing users to plan their trades more effectively. Starting with smaller positions and avoiding unnecessary trades can help beginners manage costs.
What are the best markets for beginners to trade on IG?
For beginners, the most accessible markets on IG are forex and major indices. Forex pairs like EUR/USD and GBP/USD have high liquidity and smaller spreads, making them easier to trade. Indices like the FTSE 100 or Dow Jones are also beginner-friendly because they represent broader market movements and have clear trends. Beginners should start with one or two markets to build expertise before diversifying further.
References
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Financial Times. IG Group Holdings PLC, IGG – Summary. FT.com.
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Bloomberg. IG Group Holdings PLC – Company Profile and News. Bloomberg.com.
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Financial Times. Which Investment Platform Has the Lowest Fees? FT.com.
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Financial Times. Investment Apps: Are They Up to Scratch? FT.com.
