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Do you want to know which is the better broker between IG and SBI FXTRADE ?
In the table below, you can compare the features of IG , SBI FXTRADE side by side to determine the best fit for your needs.
EURUSD: -22.5
XAUUSD: 2.7
Long: -6.42
Short: 2.14
Long: -18.32
Short: 8.57
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of ig, sbi-fxtrade lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | United Kingdom |
Regulatory status | FCA, ASIC, FSA, NFA, FMA, MAS and DFSA |
Year(s) of incorporation | More than 20 years |
Market instruments | Currency pairs, indices, cryptocurrencies, stocks and commodities |
Minimum initial deposit | $0 |
Maximum leverage | 1:200 |
Minimum spread | 1 pips for EURUSD |
Trading platform | Intuitive web platform, MetaTrader 4, L2 dealer and mobile apps |
Deposit and withdrawal methods | Credit/debit cards, bank transfer |
Customer Service | E-mail/phone number/address/live chat |
Fraud allegations | Yes |
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:
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.
Dimension | Advantages | Disadvantages |
Broker Model | IG offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' operations, IG has a potential conflict of interest that may lead to decisions that are not in the best interest of the clients. |
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.
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.
Advantages | Disadvantages |
Wide variety of trading instruments | Too many instruments can be overwhelming for some |
Possibility to diversify the investment portfolio | Increased knowledge and skill is required to operate |
Opportunities to take advantage of different conditions | There may be more risk due to exposure to different markets |
Access to a wide range of international markets | Increased complexity in position and risk management |
IG offers access to more than 17,000 markets, including currencies, indices, cryptocurrencies, stocks and commodities. 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.
Advantages | Disadvantages |
- Spreads are quite competitive. - Spreads can be viewed on the website. | - There is not much information available on commissions. - Costs may be higher in less liquid markets or with lower trading volume. |
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.
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.
Advantages | Disadvantages |
No minimum deposit requirement | Lack of detailed information on account types on the website |
Single account for all customers | It can be difficult for new customers to choose a suitable account without detailed information. |
Access to all of IG's financial instruments |
IG offers a single live account for its clients without a minimum deposit requirement. However, there is not much information available on their website about account details such as spreads, commissions and margin requirements. This can make it difficult for new clients to choose the account that best suits their needs and preferences.
Advantages | Disadvantages |
Easy-to-use intuitive web platform | Web platform may be less customizable than other platforms |
Offering MetaTrader 4, a popular and well-known platform | MetaTrader 5, the latest version of the platform, is not offered. |
L2 Dealer offers a wide range of advanced tools and functionalities for experienced traders. | L2 Dealer can be more complicated for beginner traders |
Mobile apps available for iOS and Android | Mobile apps may be less customizable than the web platform |
Wide selection of platforms to meet the needs of different types of traders | No proprietary trading platform exclusive to IG is offered. |
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.
Advantages | Disadvantages |
Allows traders to increase their earning potential with limited capital | Leverage also increases the risk of significant losses |
Possibility of accessing larger markets without having to deposit large amounts of capital | Novice traders may have difficulty understanding and managing leverage properly. |
Opportunity to diversify the investment portfolio by trading in several markets with different levels of leverage | Leverage can increase psychological pressure on traders, which can affect their decision making. |
Facilitates the possibility of profiting from small market movements | Traders can lose more than what they initially invested if they do not properly manage leverage and the associated risks. |
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.
Advantages | Disadvantages |
Wide variety of deposit methods | No detailed information on withdrawals is provided |
No minimum deposit required | Commissions on credit card deposits |
Free deposits with Visa and Mastercard debit cards | There are no other methods such as skrill, neteller, perfect money, etcetera. |
Bank transfers accepted |
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.
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.
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.
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.
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.
Information | Details |
Company Name | SBI FXTRADE |
Registered Country/Area | Japan |
Regulation | Financial Services Agency, Japan |
Minimum Deposit | 1,000 yen for Quick Deposits |
Spreads | Narrow Spreads |
Trading Platforms | Desktop and Mobile |
Tradable Assets | Forex (34 currency pairs) |
Demo Account | Available |
Deposit & Withdrawal | Quick Deposits, Normal Deposits, Deposits to SBI Shinsei Bank |
Educational Resources | Official YouTube channel |
SBI FXTRADE is a Forex broker and a part of the SBI Group, a leading online financial services company in Japan. Its service allows users to engage in foreign exchange (FX) margin trading. The platform offers real-time market information and various analysis tools, which can assist both novices and experienced traders in their decision-making process.
The SBI FXTRADE platform boasts of features such as narrow spreads and 24-hour trading. It also offers a demo account option for practice. Additionally, there is a user-friendly interface which simplifies the process of FX trading and a mobile application for trading on the go. It is essential to remember that just like any other type of trading and investment, forex trading involves certain risks which should be thoroughly understood before participating.
SBI FXTRADE is a regulated broker under the jurisdiction of Japan. The platform is licensed as a Retail Forex License holder and is overseen by the Financial Services Agency of Japan. The license number is 関東財務局長(金商)第2635号 and the official licensed institution is SBI FX トレード株式会社. The license was effectively granted on 13th April 2012. However, there is no shared email address of the licensed institution. It's crucial to trade with a regulated broker as it provides a certain level of security and oversight.
Pros | Cons |
An extensive range of 34 currency pairs for trading | Certain deposit options involve fees |
Offers Quick deposits starting from 1,000 yen with no fees | Some deposit methods may not reflect immediately |
Regulated by the Financial Services Agency | Forex and other forms of trading always carry inherent risks |
Provides a range of educational resources, including a YouTube channel for learning and updates | For Normal deposits and some other services, transfer fees will be borne by the customer |
Allows 24-hour trading | |
User-friendly interface | |
Offers a demo account for practice | |
Provides both desktop and mobile trading platforms |
Pros:
1. Wide Range of Trading Instruments: SBI FXTRADE offers an extensive range of 34 currency pairs for trading, making it an attractive platform for those who wish to diversify their trading portfolio.
2. Quick Deposits: The platform provides a quick deposit feature that starts from 1,000 yen with no associated fees.
3. Regulation: SBI FXTRADE is regulated by the Financial Services Agency of Japan, adding a higher level of security and trustworthiness.
5. User-Friendly Interface: The platform has a user-friendly interface that simplifies the process of FX trading, making it easier for beginner traders to navigate.
6. Demo Account: SBI FXTRADE provides a demo account which allows users to practice trading strategies before investing real money.
7. 24-Hour Service: The platform facilitates 24-hour trading, enabling traders to take advantage of global forex market hours.
8. Mobile Trading: SBI FXTRADE offers mobile trading platforms for users to trade on the go.
Cons:
1. Deposit Fees: While quick deposits are free, other deposit methods such as the “normal deposit” method have associated transfer fees that will be borne by the customer.
2. Delay in Reflection of Deposits: Certain deposit methods may not immediately reflect the deposited amount in the trading account. If any error occurs, the reflection of deposit will have to wait till the confirmation of payment receipt.
3. Fees on Some Services: For certain services, such as normal deposits, transfer fees will be borne by the customer.
SBI FXTRADE provides its users with the opportunity to trade in a total of 34 currency pairs. This offering is considered to be one of the highest in the industry, giving traders a wide range of options when it comes to choosing their trading instruments.
It signifies that traders have the opportunity to capitalize on the movements of various currencies ranging from major currency pairs to minor and exotic ones. However, it's always important for traders to understand the risks associated with each trading instrument before investing.
The first step would be to navigate to the “Complete application in” button at the top right side of the page.
Please enter your email address using the submit button that is below the “apply for a personal account” sign. An account opening application URL will be sent to the email address you entered.
Enter your name, date of birth, and current address as in the identity verification document. The user is required to have a Japanese “MyNumber” identification in order to continue to after this step.
After the information has been examined, SBI FXTRADE will determine if the account creation process will be completed.
SBI FXTRADE offers two different methods of depositing funds: quick deposits and normal deposits.
Quick deposits start from 1,000 yen, with no associated fees. It's important to note that applications cannot be accepted during maintenance times performed by the broker or financial institutions.
SBI FXTRADE provides several methods for depositing and withdrawing funds.
For making deposits, there are three methods available:
Quick deposits: This method allows clients to deposit funds starting from 1,000 yen with no associated fees. However, deposition isn't guaranteed to reflect immediately - errors might delay the reflection of the deposit.
Normal deposits: This involves a money transfer to a created “Customer Dedicated Deposit Account”. Note that transfer fees are borne by the customer unless they are an SBI Shinsei Bank account holder depositing into the “SBI Shinsei Bank account exclusively for SBI FX Trade”.
Deposit to SBI Shinsei Bank: This method involves a money transfer to the dedicated SBI Shinsei Bank account for SBI FX Trade. There are no transfer fees and the customer has to specify their login ID and first and last name in kana in the remittance name.
The following provides more details on deposit confirmation and conditions:
Payments can be confirmed on the transaction screen.
Payments may not reflect immediately as they need to be received and confirmed by the bank. This process can take some time during busy periods.
Deposit processing is done three times a day at 9:00, 13:00, and 15:30.
Shinsei Bank deposits will be reflected in the FX account and need to be transferred to the savings FX account or the crypto asset CFD account by the user.
SBI FXTRADE offers an array of contact channels enabling seamless and efficient communication:
Direct Phone Line: Enabling immediate assistance, the firm can be directly contacted via their dedicated line at +81 0120-982-417.
Official Web Portal: An exhaustive array of resources could be found on their official website, SBI FXTRADE.
Social Media Presence: Connect with them on Twitter for real-time updates and interactions. They also maintain an active online presence on Facebook and exclusive content on their dedicated YouTube channel.
SBI FXTRADE provides several educational resources for its traders:
Official YouTube Channel: SBI FXTRADE maintains an official YouTube channel where they share informative video content. This includes market news, tutorials, trading strategies, and explanations on various aspects of Forex trading.
Today's Exchange News: This is presumably a feature where recent news and events affecting the exchange market are discussed, providing insights to help traders make informed decisions.
Crypto Asset Market Information: This channel is maintained by SBI VC Trade, which is also a part of the SBI Group. It provides information related to the crypto asset market.
Please note that Forex trading and trading in general can be risky, so it's essential to fully understand these risk factors and strategies before investing. Educational resources are a starting point, but should not be the only source of knowledge or strategy formulation. Real-time experience, trading practice, and individual research are also critical components of trading education.
SBI FXTRADE, a premium trading firm, offers multiple features tailored towards assisting traders succeed. Key offerings include diverse deposit methods (featuring Quick Deposits), a wide array of trading instruments, a user-friendly platform, and well-developed educational resources. However, potential users should be aware of potential deposit fees and delays, and inherent trading risks.
Q: What are some educational resources that SBI FXTRADE provides for traders?
A: SBI FXTRADE offers a variety of educational resources, including a YouTube channel filled with market news, trading strategies, and other trading-related insights, a feature for recent market news, programs providing insights into alternative currencies to USD/JPY.
Q: How can users contact SBI FXTRADE?
A: SBI FXTRADE can be reached through their phone number (+81 0120-982-417), their official website, or their social media accounts on Twitter, Facebook, and YouTube.
Q: What are the unique features of SBI FXTRADE?
A: SBI FXTRADE offers quick deposits without any fees starting from 1,000 yen and is regulated by the Financial Services Agency of Japan for enhanced security.
Q: What cautions should be taken while using SBI FXTRADE or similar trading platform?
A: As with all types of trading and investment, forex trading involves inherent risks. Users should ensure they understand these risks thoroughly before participating.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive ig and sbi-fxtrade are, we first considered common fees for standard accounts. On ig, the average spread for the EUR/USD currency pair is EURUSD 0.6 Gold 0.3 pips, while on sbi-fxtrade the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
ig is regulated by ASIC,FCA,FSA,NFA,AMF,FMA,MAS,DFSA. sbi-fxtrade is regulated by FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
ig provides trading platform including Standard account,DMA account and trading variety including Foreign exchange, precious metals, CFD. sbi-fxtrade provides trading platform including -- and trading variety including --.