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.

Overview of Probis

Probis is an Australian-based trading platform with a history dating back to its founding in 2009. This platform offers a diverse range of financial instruments, including Forex, Commodity CFDs, and Securities CFDs, allowing traders to engage in various aspects of the global financial markets. Prospective traders can opt for either Live Accounts, where real funds are used for trading, or Demo Accounts, which provide a risk-free environment for honing trading skills.

One of the key features of Probis is its proprietary trading platform known as PROBIS AUTON, which facilitates efficient and secure online trading. This platform supports 24-hour trading in Forex, indices, precious metals, and commodities, making it adaptable to different trading preferences and time zones. However, it's important to note that Probis's regulatory status is currently unusual, as its official regulatory status has been revoked. Therefore, traders are advised to exercise caution and thoroughly research the platform's regulatory status and oversight to ensure the safety of their investments.

Is Probis Legit？

Probis was previously regulated by the Australian Securities and Investments Commission (ASIC) under license number 338241. However, it's important to note that the regulatory status of Probis is currently abnormal, and the official regulatory status has been revoked. Traders and potential clients should exercise caution and be aware of the associated risks when considering Probis as a trading platform. It's advisable to thoroughly research and consider the regulatory status and oversight of any brokerage before engaging in trading activities to ensure the safety and security of your investments.

Pros and Cons

Probis offers diverse tradable assets, including Forex, Commodity CFDs, and Securities CFDs. Traders can choose between Live and Demo Accounts for real-money or risk-free practice trading. The platform's proprietary PROBIS AUTON trading software is user-friendly and accessible on multiple devices. However, caution is advised due to the platform's uncertain regulatory status, as its official regulatory credentials have been revoked. Commission fees lack transparency, and non-trading fees like swap interest charges can affect overall trading costs. Considering these pros and cons is crucial for potential users.

Trading Instruments

Probis offers a range of trading instruments, including FX (Forex), Commodity CFDs (Contracts for Difference), and Securities CFDs. Each of these instruments has its own specifications and trading hours.

FX (Forex) Trading: Probis provides Forex trading options with various currency pairs, including EUR/USD, USD/JPY, GBP/USD, USD/CHF, USDCAD, AUD/USD, EUR/JPY, GBP/JPY, CHF/JPY, CAD/JPY, AUD/JPY, and EUR/GBP. These pairs come with specific contract sizes, minimum fluctuations, spread values, and necessary margin requirements per lot. Trading hours for Forex pairs vary between summer and winter times, with rollover times specified.

Commodity CFD Trading: Probis also offers Commodity CFDs for trading in assets such as Spot Gold, Spot Silver, Crude Oil, Copper, Soybean, Wheat, and Corn. Each commodity has its unique contract size, minimum fluctuation, spread, and margin requirements. Trading hours for these commodities differ during summer and winter times.

Securities CFD Trading: For traders interested in securities, Probis provides CFDs on various indices, including the US 30 Index, US E-mini SPX 500 Index, US NDAQ 100 Index, UK 100 Index, SGX Japan 225 Index, and HongKong50 Index. These securities CFDs have point values, minimum fluctuations, spreads, and margin requirements per lot. Trading hours for securities CFDs are specified for both summer and winter times.

Here is a comparison table of trading instruments offered by different brokers:

Account Types

Probis offers two main types of accounts to cater to the needs of traders: Live Accounts and Demo Accounts.

Live Account: A Live Account is designed for traders who are ready to engage in real-money trading. Opening a Live Account involves depositing real funds, and traders can use this account to execute actual trades in the financial markets. Live Accounts provide access to real market conditions, and any profits or losses are reflected in the trader's account balance. These accounts offer the opportunity to experience the excitement and risks of live trading, making them suitable for both novice and experienced traders.

Demo Account: A Demo Account, on the other hand, is a risk-free and practice-oriented account type. It allows traders to hone their trading skills and test strategies without risking real capital. Demo Accounts are funded with virtual money, and traders can execute trades in a simulated market environment that mirrors real market conditions. This is an invaluable tool for beginners to learn the ropes of trading and for experienced traders to refine their strategies. It's a safe way to explore the trading platform and gain confidence before transitioning to a Live Account.

How to Open an Account

To open an account with Probis, follow these steps.

1. Visit the Probis website. Look for the “Open Live Account” button on the homepage and click on it.

1. Sign up on websites registration page.

1. Receive your personal account login from an automated email

2. Log in

3. Proceed to deposit funds to your account

4. Download the platform and start trading

Leverage

Probis offers varying levels of leverage to traders, depending on the type of financial instrument they are trading. For major currency pairs like EUR/USD and USD/JPY, the maximum leverage is 1:30. This means that traders can control a position worth up to $30 for every $1 they have in their trading account. Minor currency pairs and gold trading come with a maximum leverage of 1:20. When trading CFD products other than gold, such as commodities, the leverage is set at 1:10. For securities CFDs, which include major stock markets, the maximum leverage is 1:20, while minor stock markets offer a leverage of 1:10. Traders should exercise caution and consider their risk tolerance when using leverage, as it can amplify both profits and losses in their trades.

Here is a comparison table of maximum leverage offered by different brokers:

Spreads and Commissions (Trading Fees)

Probis provides specific details about spreads for various trading instruments. For Forex pairs, spreads typically start at 3 pips. In the case of Commodity CFDs like Spot Gold, the spread starts at 0.5 dollars per troy ounce. For Securities CFDs such as the US 30 Index, the spread begins at 5 points. These precise spread values are essential for traders to understand their trading costs accurately.

Traders should stay informed about potential changes through the platform's notifications. Please note that commission details are not provided on the website and should be obtained from Probis' customer service.

Non-Trading Fees

Probis charges non-trading fees, with one significant fee being swap interest or overnight financing charges. Swap interest arises from the difference in interest rates between two currencies in a currency pair during rollover periods.

In essence, if traders hold a position overnight in a currency pair, they may either receive or pay swap interest based on the interest rate differentials between the currencies involved. For instance, if traders buy a currency with a higher interest rate and sell a currency with a lower interest rate, they can earn interest. Conversely, if they sell a currency with a higher interest rate and buy a currency with a lower interest rate, they will incur interest charges.

For example, if the Australian Dollar has a higher interest rate compared to the Japanese Yen, and traders hold an AUD/JPY position overnight, they may earn or pay the net interest difference between these currencies. The calculation and settlement of FX swap interest occur at the market's closing.

Traders should be aware of these swap interest rates as they can impact the overall costs of holding positions overnight, affecting their trading strategies and expenses. It's advisable to check Probis for specific swap interest rates for different currency pairs.

Deposit & Withdraw Methods

Probis provides bank transfer for depositing and withdrawing funds:

Deposit:

You can deposit funds into your Probis trading account via bank wire. Domestic transfers typically take 1-2 business days, while international transfers usually take 3-5 business days. You can make deposits in either AUD or USD. Probis does not charge any fees for deposits. However, please note that international transfers to and from international banking institutions may incur intermediary or transfer fees that are independent of Probis.

Withdrawal:

To withdraw margins from your trading account, you have two options:

- Use the “withdraw margin” button within the trading platform. Fill in the withdrawal amount to complete the application.

- Contact Probis customer service by telephone. You will need to provide your login ID and service pin to complete the withdrawal application.

Trading Platforms

Probis offers the PROBIS AUTON trading platform for efficient and secure online trading. It supports 24-hour trading in forex, indices, precious metals, and commodities. The platform is available on PC, tablets, and mobile devices, ensuring flexibility for traders. It has specific system requirements, such as Microsoft .NET Framework 4.5 for the PC version and various operating systems for mobile devices. Users can download the platform from the Probis website or app stores for iOS and Android. Manuals are available for each platform version to help users navigate and make the most of their trading experience.

Customer Support

Probis offers comprehensive customer support to assist clients with their inquiries and needs. They are conveniently located in Sydney, Australia, with a registered office at Suite 11.01, Level 11, 227 Elizabeth Street, and a postal address at PO Box 20697 World Square. Clients can reach out to Probis through various communication channels. They provide telephone support at +61 2 9047 7800, allowing clients to speak directly with their team.

For specific inquiries, Probis has dedicated email addresses for different services. Clients looking for assistance with asset management can reach out to enquiries@probisgroup.com.au. If you have questions related to FX and CFD trading, you can contact cs@probisgroup.com.au. For FX and CFD account-related inquiries, you can email account@probisgroup.com.au, and margin deposit and withdrawal matters can be addressed at margin@probisgroup.com.au.

Educational Resources

Probis provides a range of educational resources to empower clients in their FX and CFD trading journey. Their educational offerings cover FX & CFD trading, trade characteristics, technical analysis, and a comprehensive glossary.

FX & CFD Trading: Probis offers educational content that helps clients understand the fundamentals of FX (foreign exchange) and CFD (contract for difference) trading. This includes insights into market dynamics, trading strategies, and risk management techniques.

Trade Characteristics: Understanding the unique characteristics of different trading instruments is crucial for success. Probis provides resources that delve into the specifics of various assets, helping traders make informed decisions.

Technical Analysis: Technical analysis is a vital tool in trading, and Probis equips clients with the knowledge and skills needed to analyze price charts, identify trends, and make data-driven trading decisions.

Glossary: The financial world comes with its own jargon and terminology. Probis offers a comprehensive glossary that defines and explains key terms, ensuring that clients can navigate the trading landscape with confidence.

Trading Tools

Probis provides traders with Economic Calendar to enhance their market analysis and decision-making. It provides traders with a professional perspective on market events, helping them understand market dynamics, stay informed about crucial economic announcements, and seize investment opportunities. This tool is instrumental in tracking economic indicators, central bank decisions, and geopolitical events that can significantly impact financial markets.

Conclusion

In conclusion, Probis offers traders access to various financial instruments, a user-friendly trading platform, and educational resources. However, its regulatory status is uncertain, which raises concerns about the safety of investments. The lack of transparency regarding commission fees and potential non-trading fees like swap interest charges can impact overall trading costs. While Probis has its advantages, including a range of tradable assets and a demo account for practice, potential users should carefully consider these drawbacks and exercise caution when choosing this platform for their trading needs.

FAQs

Q: Is Probis a regulated trading platform？

A: Probis was previously regulated by the Australian Securities and Investments Commission (ASIC), but its regulatory status is currently uncertain as the official regulatory status has been revoked.

Q: What types of trading accounts does Probis offer？

A: Probis provides two main types of accounts: Live Accounts for real-money trading and Demo Accounts for practice trading.

Q: Can I access Probis's trading platform on mobile devices？

A: Yes, Probis's trading platform, PROBIS AUTON, is available on PC, tablets, and mobile devices, offering flexibility for traders.

Q: What is the maximum leverage offered by Probis？

A: The maximum leverage varies depending on the type of financial instrument. For major currency pairs, it's 1:30, while minor currency pairs and gold trading offer 1:20. CFD products other than gold come with 1:10 leverage, and securities CFDs offer a maximum leverage of 1:20 for major stock markets and 1:10 for minor stock markets.

Q: How can I deposit and withdraw funds with Probis？

A: You can deposit funds via bank wire transfer in either AUD or USD. Withdrawals can be made using the “withdraw margin” button within the trading platform or by contacting Probis customer service.