IG Markets isn't only a binary options broker. They currently offer forex, stock trading, bonds, and access to more than 100 financial markets. However, the company is becoming increasingly popular in the binary options space. So, today, we'll take a look at their binary options trading services to see how well they stack up against their competition.
The first word that comes to mind when it comes to IG Markets' trading platform is “convolution”. In the world of investing, it's best to work with a broker that has a singular focus. The reality is that because the broker offers a wide range of trading vehicles outside of binary options, their binary options trading space has become confusing. While I understand that it's important to have all of the tools you need to be profitable, I have to say that at IG Markets, this is far overdone; making their trading platform one that lacks a solid user experience.
Deposits & Withdrawals
Minimum Deposit – One thing that stops many traders from getting started is high minimum deposits. However, with IG Markets, that's not the case. There is absolutely no minimum deposit to worry about.
Deposit & Withdrawal Options – Traders that take advantage of the services provided by IG Markets have the ability to deposit and withdrawal funds using a credit card or wire transfer. Unfortunately, this is a very minimalist approach that's not likely to sit well with some traders.
Customer Support & Education
When working with any binary options broker, you want to make sure that they offer quality customer support and educational services. After all, it's important that if you have a question or concern, someone is there to address the problem. Also, if you're a beginner, the broker should provide the necessary training documents to help you blossom into a professional.
- Customer Support – When it comes to customer support, I was incredibly impressed. Customers can contact support via phone, email, live chat or Twitter 24 hours per day Monday through Friday and from 9am to 8pm Saturday and Sunday. The staff is knowledgeable and eager to assist.
- Education – While IG Markets offers a vast educational section, it's got a big flaw. Since the broker doesn't have a singular focus on binary options, beginner traders will be reading and watching tutorials about trading concepts that don't play a role in binary options; ultimately wasting time. Also, for the same reason, the broker is lacking some crucial educational materials in the binary options space.
While the fact that IG Markets offers access to more than 100 financial markets is unique in and of itself, I wasn't able to find any unique features associated with their binary options trading service. All in all, their platform offers what just about any other binary options trading platform would offer. However, the other financial markets listed on the platform cause making trades to be a confusing process.
Unfortunately, I would not advise that anyone trade with IG Markets. The reality is that when you're looking for a broker, you don't want a “Jack of all trades!” Instead, if you're looking to trade binary options, it's best to find a broker that has a singular focus as a binary options expert. Don't worry, there are plenty of quality brokers out there. To find a good one, read reviews of other brokers here!