General Information

IG is a UK-registered company and regulated by multiple international financial bodies, including the ASIC, FCA, FSA, FMA, MAS, and DFSA. It offers access to a 17,000+ markets, including forex, indices, shares, commodities, and cryptocurrencies. The company provides multiple trading platforms, including L2 dealer, ProRealTime, MT4, and TradingView.

What Type of Broker Is IG?

IG is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, IG acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of offering leverage.

However, this also means that IG has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interest of their clients. It is important for traders to be aware of this dynamic when trading with IG or any other MM broker.

Pros and Cons of IG

Pros:

• Wide variety of markets and instrument options
• Intuitive and customizable trading platforms
• Access to advanced technical analysis and charting tools
• Multilingual, multi-channel customer service
• Demo account with virtual financing of $20,000
• No minimum deposit requirement for real accounts
• Leverage up to 1:400

Cons:

• Fees and costs may not be clearly specified
• Withdrawal of funds is not clearly specified
• The minimum transaction amount is high for some markets
• Credit card deposit fees are high compared to other brokers

Is IG Legit?

Yes. IG is currently regulated by multiple regulatory authorities, including ASIC (Australia), FCA (UK), FSA (Japan), FMA (New Zealand), MAS (Singapore), and DFSA (UAE).

Regulated Country	Regulator	Regulated Entity	License Type	License No.
	Australia Securities & Investment Commission (ASIC)	IG AUSTRALIA PTY LTD	Market Making (MM)	515106
	Financial Conduct Authority (FCA)	IG MARKETS LIMITED	Market Making (MM)	195355
	Financial Services Agency (FSA)	ＩＧ証券株式会社	Retail Forex License	関東財務局長（金商）第255号
	Financial Markets Authority (FMA)	IG AUSTRALIA PTY LTD	Straight Through Processing (STP)	684191
	Monetary Authority of Singapore (MAS)	IG ASIA PTE LTD	Retail Forex License	Unreleased
	Dubai Financial Services Authority (DFSA)	United Arab Emirates	Retail Forex License	F001780

Market Instruments

IG offers access to 17,000+ markets, covering forex, indices, shares, commodities, and cryptocurrencies.

Account Type

IG offers a single live account withno minimum deposit required. Aside from live accounts, demo accounts are also available.

IG's demo account is a very useful tool for beginner traders, as it allows them to trade in a safe and risk-free environment. With IG's virtual funding of $20,000, traders can practice and hone their trading skills without risking their capital. In addition, the IG demo account provides access to the trading platform and all the instruments and tools available in the live account, allowing traders to familiarize themselves with the platform and test different trading strategies.

Leverage

As for the maximum leverage dimension at IG, the company offers a maximum leverage of up to 1:400. This means that traders can open positions that are 400 times larger than their available capital. Leverage can be a powerful tool for experienced traders, as it allows them to earn higher profits with limited capital. However, it can also significantly increase the risk of loss and it is important that traders fully understand the risks and limitations of leverage before using it.

Spread and Commission

In terms of costs, IG offers competitive, with EUR/USD spread starting from 0.6 pips. However, there is not much information available on commissions, which may create uncertainty for some traders. In addition, it is important to note that costs may be higher in less liquid markets or with lower trading volume.

Trading Platform

IG offers various trading platforms to meet the needs of different types of traders.

The web-based platform is intuitive and easy to use, although it may be less customizable than other platforms.

They also offer MetaTrader 4, a popular and well-known platform in the forex industry.

For experienced traders, L2 Dealer offers a wide range of advanced tools and functionalities. However, this platform can be more complicated for beginner traders.

Mobile apps are available for iOS and Android, allowing traders to trade on the go.

Deposit and Withdrawal

The minimum deposit for card payment is $50, and no minimum deposit required for Bank Transfer.

Deposit options including immediate credit/debit card transactions upon card registration, with up to five cards permissible per account.

For Hong Kong clients, cost-free FPS transfers in HKD are available and usually clear within one business day.

Bank transfers are also supported. Always include your account ID as a reference to ensure prompt and accurate allocation of funds.

However, fees of 1% are charged on Visa deposits and 0.5% on Mastercard deposits.

Unfortunately, there is no detailed information on withdrawal of funds, which may be a drawback for some customers.

IG Markets enables convenient funding through its mobile app, accessible under the 'add funds' section for both iPhone and Android users. Additionally, transfers can be made via Wise (formerly TransferWise), though users should check for any associated fees as IG Markets is not affiliated with Wise. For Wise transfers, proof of transaction and account details may be required.

Conclusion

In conclusion, IG is a well-established and regulated trading platform that offers a wide variety of financial instruments, an intuitive web platform and access to MetaTrader 4 and L2 Dealer. Although its demo account offers generous virtual funding, information on live accounts is limited. Multilingual customer service is available through multiple channels. However, there is very limited information on deposit and withdrawal.

Frequently Asked Questions (FAQs)

What is the minimum deposit required to open an account with IG?

No minimum deposit requirement.

What deposit methods are accepted on IG?

IG accepts deposits through credit/debit cards and bank transfers.

What is the maximum leverage offered by IG?

1:400.

What trading platforms does IG offer?

IG offers L2 dealer, ProRealTime, MT4, and TradingView.

Risk Warning

Trading online carries inherent risks, including the potential loss of invested capital. It may not be suitable for all traders or investors. It's essential to understand and acknowledge these risks before engaging in online trading.

General Information & Regulation

Charterprime is a global financial and foreign exchange brokerage group established in 2012, headquartered in Sydney, Australia. The company adopts the STP processing system as its business model and is authorized and regulated by the ASIC in Australia, with regulatory license number 421210.

Markets Instruments

Financial instruments can be traded online with Charterprime include forex, precious metals, indices CFDs, and spot commodities.

Charterprime Account Types

Three account types are offered by Charterprime: the Variable account, the ECN account and the Swap-free account. The minimum initial deposit for three account is $100, the reasonable amount for most regular traders to get started.

Charterprime Leverage

CharterPrime as an Australia and New Zealand broker together with its obligations to local regulation still allows high leverage. The maximum trading leverage available by this broker is up to 1:500 for forex instruments and major currency pairs available for retail traders.

Spreads & Commissions

The average spread of the EURUSD for the Floating Spread Account is 2.0, the average spread of the EURGBP 1.9, and the average spread of the AUDUSD is 2.2. The average spread of ECN accounts for the EURUSD is 0.5, the average spread for the EURGBP 0.8, and the average spread for the AUDUSD is 0.7. The average spread of Gold Price in US dollar for Floating Spread Accounts is 3.8, and the average spread for Silver Price in US dollar is 3.4. The average spread of Gold Price in US dollar for ECN accounts is 1.5, and the spread for Silver Price in US dollar is 3.6. See the following swap chart:

Trading Platform

The MT4 trading platform used by Charter has powerful trading functions and analytical capabilities. Apart from Multiple order execution, it enables traders to conduct complete and flexible tradings. At the same time, it also integrates market charts, technical analysis, and order transactions. Three functions are integrated, allowing users to quickly determine trends and determine the best entry and exit time. Besides, the company also provides a multi-account management model, which refers to a practical and convenient way to manage accounts on behalf of clients and manage multiple accounts simultaneously from a single interface. It can quickly execute a large number of customer orders as long as the management account clicks a button, and a large number of transactions can be automatically allocated to their respective customer accounts.

Virtual Private Server (VPS)

VPS, also known as Virtual Private Server, is a stand-alone server that runs 24 hours per day. Traders can log into a VPS with a computer or mobile device, without any pullback issues caused by network failure or any other factor that can affect their trading progress. A VPS is suitable for and mainly used by traders who employ automated strategies which require uninterrupted access to the market 24 hours a day.

Deposit & Withdrawal

Deposit and withdrawal methods support Bitcoin (deposit time taking 1 day, and the withdrawal time taking 3 days, and the minimum withdrawal amount is 100 US dollars), USDT (the stable value currency U.S. dollar (USD) token Tether USD launched by the Ether company, USDTfor short, 1USDT equals 1 U.S. dollar, deposit taking 1 day, withdrawal taking 3 days, deposit and withdrawal fees are both 5%), UnionPay (no charge for deposit and withdrawal, deposit time taking 1 day, withdrawal taking 3 days , the minimum amount of gold withdrawal is US$100), wire transfer (the deposit and withdrawal taking 3-5 days, the withdrawal fee is 40 US dollars, and the minimum amount of withdrawal is 100 US dollars), Skrill (deposit taking 1 day, the withdrawal taking 3 Day, no deposit fee, withdrawal fee is 1%, the minimum amount for withdrawal is 100 USD), Neteller (Deposit time taking 1 day, withdrawal taking 3 days, no deposit fee, withdrawal fee is 2%, the maximum is 30 USD , The minimum withdrawal amount is US$100), and Local Gateway (currently supported currencies are Thailand, Indonesia, the Philippines and Vietnam, deposit taking 1 day, withdrawal time taking 3 days, no deposit and withdrawal fees, and the minimum withdrawal amount is 100 US dollars).

Educational & Research Tools

There are no other educational resources provided by the broker apart from a baic glossary, FAQ, user and installation guiders fro the MT4 trading platform.

Additional research tools offered by CharterPrime consist of market news, updates and an economic calendar of featured events and data releases.

Customer Support

CharterPrime Customer Support team can be contacted within working hours through Live Chat, email or contact form.

Here are some contact details:

Telephone: +852 8175 6090

Email: enquiry@charterprime.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, Instagram and Linkedin.

Pros & Cons

Frequently Asked Questions

Is Charterprime regulated？

Charterprime is authorized and regulated by the ASIC in Asutralia under regulatory license number 421210.

Does Charterprime offer a demo account？

Yes, demo accounts are available with Charterprime.

What trading platform does CharterPrime provide？

CharterPrime makes the popular trading platform MT4 available.

What are CharterPrime's customer service hours？

The CharterPrime customer service team is available 24/5 from Monday to Friday.

Can I change my leverage with Charterprime？

Yes, leverage can be changed by contacting the Charterprime customer support team.