IGI Markets Review
If you have done any research into online brokers, you are aware that there are lots of them swarming the markets. Every other day, there is talk about a new one that’s making waves in the financial markets.
When you decide to take a look, you will obviously discover that every company highlights their features and claims to be the best; it is natural for businesses to do so.
There are indeed some good and professional platforms that do exist, but not everyone has the same priorities. To find whether a broker works for you or not, you have to do some homework. Going over a IGI Markets review is an excellent example.
How do you find anything about a company? The good news is that we are living in an age of technology and the internet, which means we have access to information right at your fingertips.
Gone are the days when you had to go out to search for a broker or learn about their reputation. Today, you can do it from the comfort of your home or office and find everything you need to know.
Why do you need to do so? The simple fact that is that every trader in the financial markets doesn’t have the same expectations, style, skills or capital. Therefore, they will have different priorities and criteria, which means it is highly unlikely that one company will be able to work for all.
If you talk to some experienced traders, they will share their horrible experiences with brokers that had to do with the fact that they were just not a suitable fit. It wasn’t because the company wasn’t a legitimate one; they just had a different target audience.
Unless you want to go through the same, it is better to do your homework beforehand and save yourself all the trouble. This will ensure that you have a positive and smooth experience in the trading market and are able to achieve your goals, exactly as you want.
This is where you may want to take a look at IGI Markets, a relatively new broker that has moved up the ladder rather quickly and this is primarily because of its impressive offerings and features.
It is an award-winning broker that appears to tick all the boxes and has now expanded to more than 60 countries. But, can it be the right fit for you? You can find out by taking a look below:
The Company’s Trading Platform
How is online trading possible? There is a software developed for accessing the financial markets and then executing trades within them in real time. This is often referred to as the trading platform and there are some that you will find online. Brokers provide their clients with access to this platform, so they are able to trade in the market of their choice.
However, if you check out a few of these brokerages, you will come to know that not all of them have the same platform to offer. This is due to the fact that some have chosen to use one of the existing options in the market, while others have opted to develop their own for one reason or another.
As far as IGI Markets is concerned, they have also developed a trading platform of their own for catering to their clients. The first thing you need to know about the platform is that it is a web-based one, which means it is accessible on any device that supports a web browser and an internet connection.
To use the platform, you simply need to go on the company’s website and there is nothing to be downloaded. A lot of traders prefer this kind of platform because of its ease and convenience. Secondly, you don’t have to worry about any compromises made because the trading platform is a simple, yet powerful trading solution.
They have opted to use cutting-edge technology for the trading platform and combined it with a user-friendly interface to make it easy for traders to use the platform. You don’t have to spend days learning how to navigate the platform, which saves time and enables you to avoid a lot of hassle.
IGI Markets has also ensured that the technology delivers instant trade execution and reflects trades in real-time for the benefit of the traders. The one-click trading feature also simplifies the process. The layout of the platform is also customizable, so traders can make changes as per their comfort level.
As far as tools are concerned, IGI Markets has integrated some of the top ones on their trading platform. You will be able to access trading signals, price alerts, and different market analyses, and technical indicators, use risk management tools like numerous order types, a market calendar and a horde of charts that can be immensely useful.
They have taken it a step forward by adding mobile support for the platform, which adds flexibility for the traders. It works on iOS and Android ecosystems, so traders will be able to trade from anywhere and keep up with the market.
The Company’s Trading Products
How do people make money through trading? They buy and sell trading products or instruments in the financial markets. There are hundreds of thousands of these products, which belong to different markets and have different levels of volatility, profitability and risk.
More volatile trading products tend to be risky, but can also offer higher profits, while those having low volatility are less risky, but also offer less returns. Unless you are very risk aggressive, most traders prefer to keep their risks in check by trading both types of instruments i.e. they diversify.
Diversification is one of the oldest and most effective methods of risk management that have been used by traders and you can also do the same. However, it is important to remember that you can only diversify if the broker you choose provides you with access to such a variety of instruments.
If they have limited options, or provide trading products with the same level of risk, you will not be able to do so. Consequently, it is better to know what you are getting into.
At IGI Markets, a wide range of trading products have been added, belonging to various global financial markets. There are more than 200 options available, which gives traders plenty of options for diversification.
But, which markets can you trade in? The stock market is the first offering you will come across and it provides you the opportunity of investing in some of the world’s most prominent companies. Apple, Netflix, PayPal, Alibaba, JPMorgan and Pfizer are a few of these names.
If you prefer the big picture, the indices market has been added by IGI Markets and you can find leading indices like FTSE 100, S&P 500, CAC 40, NASDAQ 100 and Nikkei 225. Next up, you will find the world’s largest financial market i.e. the forex market. Its daily trading volume is more than $5 trillion and it presents traders with a horde of opportunities.
You will find major and minor currency pairs to trade and some of these include USD/JPY, GBP/USD, EUR/USD, AUD/NZD and USD/CHF. If you are not interested in traditional currency pairs, IGI Markets has also added digital ones that have now gained a lot of popularity.
A number of crypto options can be found on the platform, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple and Monero. There are also commodities that can be traded, which include soft ones and hard commodities.
Soft refer to agricultural products like coffee, wheat, sugar and rice, while hard describe precious metals like gold, IGI Markets, palladium and platinum. Energies like crude oil and natural gas are also available.
In addition, IGI Markets has also added ETFs (Exchange-Traded Funds) to their platforms to keep things interesting for their clients. They have bundles available that can prove to be quite profitable and a separate platform is provided for ETF trading.
The Company’s Registration Process
Registration is a basic step you have to complete for using any online service and it is no different for a broker. But, what makes people apprehensive is that there is no set criteria for it.
Every company is free to come up with its own, due to which you will find complaints about multiple forms, contract signing, document submission and verification and lengthy approval procedures.
Obviously, you don’t want to go through it all and IGI Markets has obliged. Their registration process is incredibly simple and quick and you will be done with it in a few minutes at best.
What does it involve? To register with IGI Markets, you just need to go to their website and click on the Sign Up option. This will provide you with a single form and it is a short one. What details does it ask for? You have to enter your first name, last name, email address and a password, your phone number and country of residence.
Finally, you have to agree to the Terms & Conditions outlined by the company on their website and confirm that you are at least 18 or above and your registration will be complete. There is no waiting time involved and you can begin right away.
The Company’s Account Types
It is understood that after you have registered with the broker in question, you will open an account with them. If you have looked at some brokers, you are aware that most of them offer more than one account for traders to choose from.
The purpose of offering several account types is to accommodate those with different needs and preferences. IGI Markets has also come up with four account types, but unlike the ones usually provided, its options are not that rigid. In fact, they are quite flexible and traders will easily be able to find an account in accordance with their style.
Let’s check out the options:
Basic: As the name indicates, this account comes with basic features because it is for newbies and beginners with no or very little experience in the financial markets. It needs a minimum deposit of €500. Traders receive 24/7 customer support, 10% no-interest loan on deposit and 1:50 leverage.
Bronze: When you climb up to become an intermediate trader, the IGI Markets account is a good option. It needs a minimum deposit of €10,000. The leverage is increased to 1:100 as an incentive and the no-interest loan goes up to 20% as well.
IGI Markets: To accommodate all experienced and advanced traders that decide to use the IGI Markets platform, the Gold account has been developed and this needs a minimum deposit of €100,000. The leverage now stands at 1:200 and traders get a 30% no-interest loan.
Additional features are also included like event analysis, trading alerts, direct line to account executive, free monthly webinars, and direct line to account executive, mentorship program, one-on-one educational course and daily monthly webinars.
VIP: The final choice for professional traders is Platinum and the minimum deposit is €250,000. Free trading signals, event trading and a money management plan are included, along with all features mentioned above. The leverage is now 1:400 and the no-interest loan is also increased to 40%.
Add in a range of deposit and withdrawal methods, a secure trading environment, excellent trading conditions, extensive educational resources and robust and reliable customer support and IGI Markets can definitely be a good fit for you.