Here is an official video from the company.

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

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.

• There is no minimum deposit requirement for real accounts.

• It offers leverage of up to 1:200.

Cons:

• Fees and costs may not be clearly specified on the website.

• Information on account types is limited.

• There are not many educational resources available on the website.

• The withdrawal of funds is not clearly specified.

• The minimum transaction amount may be high for some markets.

• No welcome bonuses or promotions are offered.

• Credit card deposit fees can be high compared to other brokers.

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.

General Information and Regulatory Status

IG is a UK-registered company and regulated by multiple international financial bodies, including the FCA, ASIC, FSA, NFA, FMA, MAS and DFSA. It offers access to a wide variety of financial instruments, including currencies, indices, cryptocurrencies, stocks and commodities, with over 18,000 markets available. The company provides multiple trading platforms, including an intuitive web platform, MetaTrader 4, L2 dealer and mobile apps. It also offers multilingual customer support through various channels, including telephone, email, social media and online chat.

In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.

Market Instruments

IG offers access to more than 17,000 markets, covering Forex, Indices, Shares, Commodities, Cryptocurrencies, Bonds, ETFs, Options, Industry sectors, Interest rates, and more. This dimension is an advantage for traders as it provides them with a wide variety of instruments to trade and allows them to diversify their investment portfolio. In addition, this wide selection of instruments allows traders to take advantage of different market conditions and opportunities. However, a possible disadvantage of this dimension is that it can be overwhelming for some traders, as it requires greater knowledge and skill to trade in different markets. In addition, exposure to different markets can increase the risk of a portfolio, requiring more complex position and risk management.

Spreads and Commissions

In terms of costs, IG offers competitive and transparent spreads, with the average spread for EUR/USD being one pip. 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. Overall, IG appears to offer a reasonable and competitive cost structure compared to other brokers.

Trading Accounts Available at IG

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. Overall, the IG demo account is an excellent tool for beginner traders to gain experience and confidence in trading before investing their own capital.

IG offers a single live account for its clients and the minimum deposit required is $250. Aside from live accounts, demo accounts are also available.

Operating Platform Offered by IG

IG offers a variety of 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. Overall, the selection of platforms offered by IG is an advantage for traders, although some may find the lack of an IG-exclusive trading platform a disadvantage.

Maximum IG Leverage

As for the maximum leverage dimension at IG, the company offers a maximum leverage of up to 1:200. This means that traders can open positions that are 200 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. Overall, IG's maximum leverage is comparable to that of other online brokers and may be suitable for those seeking greater buying power in the market.

Deposit and Withdrawal: Methods and Fees

IG offers several methods for depositing funds, including debit and credit cards, as well as wire transfers to your HSBC and Standard Chartered Bank accounts. No minimum deposit is required and debit card deposits are free of charge. 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. Overall, the variety of deposit options is positive, although the costs associated with credit card deposits should be carefully considered.

IG Educational Reaources

Unlike other online brokers, IG seems to offer a limited amount of educational resources on its website. Although a news and analysis section can be found, as well as an economic calendar, there are not many online resources to help traders learn and improve their trading skills. It is important to note that despite this, IG has a long history and experience in the financial market, which can be of great help to experienced traders looking for a reliable and solid platform to conduct their trades. However, for new and inexperienced traders, they may need to seek additional educational resources elsewhere to enhance their understanding of the financial markets and develop effective trading skills.

IG Customer Service

Customer service is an important dimension for any business and in the case of IG, this company offers a variety of options for contacting them. Customers can communicate via phone, email, social media and online chat, which offers great flexibility and convenience for users. In addition, customer service is available in multiple languages, which is a great advantage for international customers. Overall, IG seems to have placed adequate emphasis on customer service, which is important to ensure customer satisfaction and maintain a good reputation in the financial market.

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, the lack of educational resources and limited information on withdrawals are areas where they could improve. Overall, IG is a solid choice for traders looking for a regulated platform with a wide selection of instruments and a reliable trading platform.

Frequently Asked Questions about IG

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

• Answer: There is no minimum deposit requirement to open an account with IG.

• Question: What deposit methods are accepted on IG？

• Answer: IG accepts deposits through debit cards, credit cards and bank transfers.

• Question: What is the maximum leverage offered by IG？

• Answer: IG offers a maximum leverage of up to 1:200 on certain financial instruments.

• Question: How can I contact IG customer service？

• Answer: You can contact IG customer service by phone, email, online chat or social media.

• Question: What trading platforms does IG offer？

• Answer: IG offers an intuitive web platform, MetaTrader 4, L2 Dealer and mobile applications.

• Question: What is the average spread for EUR/USD at IG？

• Answer: The average spread for EUR/USD is one pip.

• Question: Does IG offer educational resources for traders？

• Answer: They offer a variety of live webinars and educational content on their YouTube channel.

Overview

FXCL Markets Ltd operates from St. Vincent and the Grenadines and was previously regulated by the Vanuatu Financial Services Commission, although its license has been revoked. The company offers a range of trading account types with varying leverage options and spreads, and it utilizes the MetaTrader 4 (MT4) platform for trading across multiple devices. Tradable assets include Forex, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. While specific details like the founding year, minimum deposit requirements, and availability of demo or Islamic accounts are not provided, the broker offers email-based customer support and various payment methods. Educational resources include a Forex glossary and materials for both beginner and advanced traders.

Regulation

Revoked.

FXCL MARKETS LTD previously held a Retail Forex License regulated by the Vanuatu Financial Services Commission (VFSC), permitting them to offer retail forex trading services. However, the license was revoked at an unspecified date. License revocation typically occurs due to non-compliance with regulatory requirements or financial misconduct. When a license is revoked, the entity is no longer authorized to provide regulated services, and they must cease their operations in that specific area. For detailed information about the revocation and its implications, further inquiry with the VFSC or additional sources is advisable.

Pros and Cons

FXCL Markets offers a range of advantages, such as diverse trading instruments, multiple account types, and the popular MT4 platform. They also provide various payment methods and accessible customer support. However, concerns arise due to the revocation of their previous regulatory license and limited information on their history and educational resources. Traders should exercise caution and conduct thorough research when considering this broker.

Market Instruments

Based on the information provided, the broker offers a variety of trading instruments that encompass several categories, including Foreign Exchange (Forex), Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. Here's a description of each category of market instruments offered by the broker:

1. Foreign Exchange (Forex): Forex trading involves the exchange of one currency for another, and it is one of the most popular forms of trading. In this category, the broker likely provides a wide range of currency pairs for trading, allowing clients to speculate on the price movements of different currencies, such as EUR/USD, GBP/JPY, and more.

2. Precious Metals: Precious metals trading typically includes instruments like gold, silver, platinum, and palladium. Traders can buy or sell these metals to profit from changes in their market prices. Precious metals are often considered safe-haven assets and are used for diversification and hedging purposes.

3. Commodities: Commodities trading involves various physical goods like oil, natural gas, agricultural products, and more. These commodities are traded in futures and spot markets, and traders can speculate on price fluctuations. Commodity trading can be attractive for those looking to diversify their portfolios.

4. Fund Management: Fund management implies that the broker may offer services related to managing investment funds. This could include portfolio management, asset allocation, and investment advisory services to help clients grow their investments.

5. Clearing: Clearing services are often associated with the settlement and clearing of financial transactions, ensuring the smooth and secure transfer of assets between buyers and sellers. Brokers may offer clearing services to facilitate trading activities.

6. Primary Brokering: Primary brokering typically refers to the intermediary role in trading securities. This may involve connecting buyers and sellers in various markets, such as stock exchanges or fixed-income markets, to execute trades.

7. Other Legal Activities: This category is quite broad and could encompass a range of financial and legal services. It may include activities related to regulatory compliance, legal advisory, or other financial services permitted by the regulatory authorities.

Please note that the specific instruments offered by the broker within each category may vary, and clients should refer to the broker's offerings and terms and conditions for precise details on available trading options.

Account Types

FXCL offers three tiered trading account types, each catering to the diverse needs and preferences of traders. These account types are designed to provide flexibility in terms of leverage, spreads, and trading conditions. Let's explore each account type in detail.

1. Fixed Spread Account

1. Account Currency: This account is available in US cent, EU cent, MYR cent, and THB cent for Cent accounts. For Standard accounts, it supports USD, EUR, MYR, THB, and NGN.

2. Leverage: Cent accounts offer leverage up to 1:1000, while Standard accounts offer leverage up to 1:500.

3. Spread: Both Cent and Standard accounts have fixed spreads, starting from 1 pip. The full spread list is available for reference.

4. Margin Call/Stop Out Level: Both account types share a margin call level of 30% and a stop-out level of 10%.

5. Execution: Instant execution is provided for both account types.

6. Position Size: Cent accounts support positions ranging from 0.01 to 200.00 lots, while Standard accounts allow positions from 0.01 to 2.00 standard lots.

7. Max. Number of Positions Online: Cent accounts allow up to 150 positions, while Standard accounts permit up to 100.

8. Commission: There is no commission for trading in either account type.

9. Quotes: Both account types offer basic quotes with 4 digits after the comma.

10. Swap Interest: Swap-free options are available for traders who require them.

11. Hedging Policy: Hedging is permitted except between swap and swap-free accounts.

12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in either account type.

13. Strategy Policy: Generally, there are no limits on trading strategies for both account types.

2. Floating Spread Account

1. Account Currency: This account type supports USD, MYR, THB for Start accounts, US cent, MYR cent, THB cent for Interbank Cent accounts, USD, MYR, THB, NGN for Interbank Standard accounts, and USD for ECN Pro accounts.

2. Leverage: The leverage varies, with Start accounts offering up to 1:2000, Interbank Cent and Interbank Standard accounts offering up to 1:500, and ECN Pro accounts offering up to 1:300 for Forex and metals, up to 1:100 for indices, and up to 1:10 for crypto.

3. Spread: All these account types feature floating spreads, with different starting points. Detailed spread lists are available for reference.

4. Margin Call/Stop Out Level: Margin call and stop-out levels vary between account types, offering flexibility to traders.

5. Execution: Market execution is provided for all floating spread account types.

6. Position Size: Position sizes vary across account types and asset classes, providing options for different trading strategies.

7. Max. Number of Positions Online: The maximum number of online positions varies, allowing traders to choose their preferred trading volume.

8. Commission: Commission structures differ for each account type and asset class.

9. Quotes: All floating spread account types offer extended quotes with 5 digits after the comma.

10. Swap Interest: Swap-free options are available, and swap interest varies based on the specific account type and asset class.

11. Hedging Policy: Hedging is generally allowed, except between swap and swap-free accounts.

12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in any of these account types.

13. Strategy Policy: The broker typically allows various trading strategies, including scalping and algorithmic trading, particularly in ECN Pro accounts.

3. Special Accounts

1. Account Currency: Both account types are denominated in USD.

2. Leverage: Leverage of up to 1:1000 is available for both Live Contest and Volume Cash accounts.

3. Spread: These accounts offer floating spreads, and detailed spread lists are provided.

4. Margin Call/Stop Out Level: Both account types share a margin call level of 70% and a stop-out level of 50%.

5. Execution: Automatic Market Execution is applied to both account types.

6. Position Size: Position size ranges are suitable for Forex and metals trading.

7. Max. Number of Positions Online: Traders can maintain a maximum of 50 positions online in these accounts.

8. Commission: There is a commission of $1.5 per lot for Forex and metals trading in both Live Contest and Volume Cash accounts.

9. Quotes: Both account types offer extended quotes with 5 digits after the comma.

10. Swap Interest: Swap-free options are available for traders who require them.

11. Hedging Policy: Hedging is allowed in both account types, except between swap and swap-free accounts.

12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in these accounts.

13. Strategy Policy: Generally, there are no limits on trading strategies for both Live Contest and Volume Cash accounts.

Leverage

A leverage ratio of 1:2000 means for every $1 you deposit, the broker provides you with up to $2000 in trading funds. It amplifies potential profits but also increases risk, so it's crucial to trade responsibly and be aware of market movements to avoid losses. Leverage availability varies among brokers and markets, and it's essential to understand your broker's specific terms and conditions.

Spreads & Commissions

1. Fixed Spread Accounts:

• Cent Account: Fixed spreads starting from 1 pip, no commission.

• Standard Account: Fixed spreads starting from 1 pip, no commission.

1. Floating Spread Accounts:

• Start Account: Floating spreads, no commission.

• Interbank Cent Account: Floating spreads starting from 1.1 pip, no commission.

• Interbank Standard Account: Floating spreads starting from 1.1 pip, no commission.

• ECN Pro Account: Floating spreads, commissions vary ($3 per lot for Forex and metals; 0.15% per lot for cryptocurrencies).

1. Special Accounts:

• Live Contest Account: Floating spreads, commission of $1.5 per lot for Forex and metals.

• Volume Cash Account: Floating spreads, commission of $1.5 per lot for Forex and metals.

This summary provides a clear overview of the spreads and commissions associated with each account type, helping traders make informed choices based on their trading preferences.

Deposit & Withdrawal

Depositing Funds:

When you open your trading account, you can easily deposit funds directly from your Trader's Cabinet, where you'll find step-by-step instructions. The broker offers several payment methods for depositing funds:

1. Online Bank (Paytrust): This local payment method allows deposits from the main banks of Indonesia, Malaysia, and Vietnam. It provides instant deposits.

2. Instant Deposits via 'H2P': You can make instant deposits from the main local banks of Indonesia, Malaysia, and Vietnam using the 'H2P' payment system. FXCL covers the fees for deposits made through this method.

3. Crypto (AlphaPo): This is an instant payment system with automatic conversion from BTC and USDT to USD and EUR. It offers an easy deposit procedure.

4. PerfectMoney: You can fund your PerfectMoney account directly by wire transfer or via exchangers. It's an instant payment system with low fees.

5. Local Deposit: This convenient, low-fee payment method allows you to work with your local currency through internal transfers to popular national banks. Processing of Local Deposits takes up to 1 business day.

6. FasaPay: A known payment service that guarantees quick and safe transactions, available in USD and IDR for Indonesia and in USD for Malaysia. FXCL provides full fee coverage for FasaPay deposits.

7. Dragonpay: Allows deposits in PHP via online banking and ATMs for clients from the Philippines.

Withdrawing Funds:

To withdraw your funds, you can log in to your Trader's Cabinet and make a withdrawal request, which will be processed within 1 business day. Please note that you need to verify your profile before withdrawing funds. The withdrawal methods available include:

1. Online Bank (Paytrust): This method processes withdrawals to the main banks of Indonesia, Malaysia, and Vietnam.

2. Local Payments via 'H2P': Withdrawals to the main local banks of Indonesia, Malaysia, and Vietnam can be made using the 'H2P' payment system.

3. Crypto (AlphaPo): An instant payment system with automatic BTC to USD and EUR conversion.

4. PerfectMoney: You can withdraw funds directly via wire transfer or exchangers if you funded your PerfectMoney account with a Credit Card or other e-currencies. It offers low fees.

5. Local Deposit: Similar to the deposit process, this method allows low-fee withdrawals in your local currency through internal transfers to popular national banks.

6. FasaPay: Known for quick and safe transactions, available in USD and IDR for Indonesia and in USD for Malaysia. Withdrawal fees for FasaPay are very low.

7. Dragonpay: Enables withdrawals in PHP via online banking and ATMs for clients from the Philippines.

It's important to follow some basic rules when making requests:

• Third-party transactions are not accepted.

• Deposit methods on the same account cannot be mixed.

• Withdrawal methods can be mixed, and the broker may cover payment fees as part of a promotional campaign.

• The limits for fee coverage are $500 for deposits and $100 for withdrawals per trader per month.

• The company retains the right to apply reverse compensation fees, and the fee may be deducted from available funds across the client's accounts.

In summary, this broker offers a variety of payment methods for both depositing and withdrawing funds, catering to traders from different regions and preferences. The process is user-friendly and ensures the security of transactions.

Trading Platforms

This broker provides the highly popular MetaTrader 4 (MT4) trading platform, trusted by millions of traders worldwide. MT4 is available for various operating systems, including Android, iOS, Windows, macOS, and via a web terminal or the AppGallery for Android devices.

To install MT4 on Windows, traders can download the fxcl4setup.exe file and initiate the installation process by clicking on it. Accepting the License Agreement starts the automatic installation, and users can also choose to save the installation file for later use. Importantly, this download and installation are entirely free.

For uninstalling MT4 on Windows, users can access the Control Panel, select “Add or Remove Programs” (or “Programs and Features” in Windows 7), locate “MetaTrader – FXClearing,” and confirm the uninstallation.

Additionally, useful documentation is available, including the “MT4 User Guide” for platform features and the “FXCL Markets End-User License Agreement (EULA)” for legal terms.

In summary, this broker offers the widely trusted MetaTrader 4 (MT4) platform, accessible across various devices and operating systems. MT4 is known for its user-friendly interface and robust trading capabilities, making it a preferred choice for traders of all levels.

Customer Support

Customer Support at this broker is easily accessible through various means, providing traders with multiple options to address their inquiries or concerns.

Contact Options:

1. Email Support: Traders can reach out to the broker by sending an email. The required contact details include your name, email address, MT4 Account number, and the nature of your inquiry or message. This method allows for detailed communication and documentation of queries.

2. Registered Address: The broker provides its registered address as Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. While this address is primarily for official purposes, it can serve as a reference point.

3. Email Addresses: The broker offers specific email addresses for different purposes, such as general support inquiries via support@fxclearing.com and bonus-related requests via rebate@fxclearing.com. This segmentation allows for efficient handling of various types of requests.

Customer-Centric Approach:

The broker's customer support team aims to provide timely and helpful assistance to traders. Whether it's inquiries about trading, account management, technical issues, or bonus-related matters, traders can expect a dedicated response based on the nature of their query.

The provision of specific email addresses for different types of requests ensures that inquiries are directed to the appropriate department, streamlining the support process. This tailored approach allows for more efficient and effective customer service.

In summary, this broker offers a customer support system designed to meet the diverse needs of traders. With multiple contact options and specialized email addresses, traders can easily reach out for assistance and expect a customer-centric approach to addressing their queries and concerns.

Educational Resources

FXCL Markets offers a robust array of educational resources to support traders at all levels. These resources include:

1. Forex Glossary: FXCL Markets provides a comprehensive Forex glossary, offering traders valuable definitions and terminology essential for their trading journey.

2. Market Analysis Overview for Beginners: Tailored for novice traders, this overview introduces the fundamental concepts of market analysis, encompassing both fundamental and technical aspects.

3. Analysis Theory: FXCL Markets recognizes the importance of proper market analysis. Their educational materials delve into the intricacies of fundamental and technical analysis, empowering traders to make informed decisions.

In essence, FXCL Markets' educational resources cover the essentials, making it a valuable hub for traders seeking to enhance their trading knowledge and skills. Explore these resources further on the FXCL Markets Education page.

Summary

FXCL Markets is a Forex broker offering various trading instruments across categories like Foreign Exchange (Forex), Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and more. Traders can choose from three account types, each with distinct features to cater to their preferences. The broker provides the popular MetaTrader 4 (MT4) trading platform, accessible on multiple devices. Traders can deposit and withdraw funds through various methods, making transactions easy and secure. FXCL Markets places emphasis on customer support, offering multiple contact options and specialized email addresses for inquiries. Additionally, they provide a range of educational resources to support traders at all levels, including a Forex glossary and market analysis materials. It's important to note that their previous regulatory license has been revoked, and traders should exercise caution.

FAQs

Q1: What is FXCL Markets？

A1: FXCL Markets is a brokerage firm that offers online trading services in various financial markets, including Forex, Precious Metals, Commodities, and more.

Q2: Is FXCL Markets regulated？

A2: FXCL Markets previously held a retail forex license regulated by the Vanuatu Financial Services Commission (VFSC), but the license was revoked. Traders should conduct further research to understand the implications of this revocation.

Q3: What trading platforms does FXCL Markets offer？

A3: FXCL Markets provides the MetaTrader 4 (MT4) trading platform, available for different operating systems, including Android, iOS, Windows, macOS, and web-based.

Q4: What are the account types at FXCL Markets？

A4: FXCL Markets offers three types of accounts: Fixed Spread, Floating Spread, and Special Accounts, each designed to cater to specific trading preferences and conditions.

Q5: How can I contact FXCL Markets' customer support？

A5: You can contact FXCL Markets' customer support by sending an email to support@fxclearing.com for general inquiries or rebate@fxclearing.com for bonus-related requests. Additionally, you can find their registered address in St. Vincent and the Grenadines for reference.