IG Index is the oldest spread betting firm, being established more than a decade before the emergence of City Index or CMC Markets. It was originally established in 1974, and maintains a healthy client base and large range of markets. In recent years there have been some company changes, and it is now listed in the London Stock Exchange and included in the FTSE 250. In addition to the UK presence, and regulation under the FSA, it has an Australian branch which comes under the Australian Securities and Investments Commission (ASIC) regulations.
Review of IG Index
There are two types of account on offer from IG Index, one of which is designed for beginners by automatically limiting the risk – a form of guaranteed stop loss – but this is paid for by having larger spreads, and therefore not recommended for anyone who knows what they are doing. The standard ‘Plus’ account has competitive tight spreads, perhaps not the best in the industry but certainly worth considering.
The trading platform is browser based, which has the advantage that you do not need to download any software and can access your account from any internet connected computer. Against that, users have suggested that there may be some delays at busy times. The industry offers both methods, which suggests that there is no clear better option, but you should be aware of the advantages and disadvantages of each choice.
No Demo Account at IGIndex
Perhaps unusually, IG Index does not offer a trial “demo” account, which is a pity if users want to try out the browser based “PureDeal” platform before committing to an account. It is easy to open an account however, and IG Index offers a “TradeSense” programme which allows trading for 10 pence per point. It also offers a free six week course for beginners to learn spread betting.
If you want access to a large number of markets, you will find that IG Index is one of the best spread betting providers. It lists more than 3750 shares in the global marketplace, and the total number of markets is more than 7500.
IG Index offers a variety of charting methods, culminating with an automatic analytical tool it has named ‘Autochartist’. This can be set to analyse the charts for a wide range of patterns that fit in with your trading system. Autochartist will send an alert to you when your pre-selected patterns appear, and this facility is included with your account. The pattern recognition software comes with default settings which can be modified as required, and patterns can be screened for their quality and uniformity so that chart patterns that are not clear are filtered out.
As the granddaddy of the industry, IG Index is certainly a spread betting provider that can be on your short list. The extensive range of products is a positive, the long established reputation a plus, and the selection may come down to personal choice on whether you like the trading platform and find the spreads acceptable in your chosen markets. In view of all the factors, we rate IG Index as good value.
http://www.Financial-spread-betting.com monitors and reviews spread betting sites like City Index and IG Index so you know which sites offer the best experience for you to spread bet at.
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