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IG Review

Overall, IG is very competitive in terms of its trading fees and spreads. IG is regulated by 8 Tier-1 (High-Trust), 3 Tier-2 (Medium-Trust) and 1 Tier-3 (Low-Trust) regulators. IG offer 7 retail investor accounts and has a Trust Score of 99% out of 100. IG is currently not regulated by the MFED, BoB, or NBFIRA of Botswana

Updated : July 11, 2022

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005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

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Account Registration

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Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

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Overall Rating

Min Deposit

USD0

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on IG Group’s website

IG Overview

IG Overview

👉 Overall, IG is considered low-risk, with an overall Trust Score of 99 out of 100. IG is licensed by eight Tier-1 Regulators (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). IG offers seven retail trading accounts namely CFD/DMA Trading Account, Limited Risk Trading Account, Options Trading Account, Turbo24 Trading Account, Share Dealing Account, Spread Betting Account, and a Swap-Free Trading Account.

 

👉 One of the largest CFD brokers in the world is IG, which began operations in 1974 in the United Kingdom.

 

👉 Several different authorities govern IG in regions all over the world, including top-tier regulators such as the Financial Conduct Authority (FCA) in the United Kingdom and the Federal Financial Supervisory Authority in Germany (BaFin).

 

👉 In addition, the IG Group has public shares and is traded on the London Stock Exchange. Because it is publicly traded, its financials are easily accessible, and it is subject to the scrutiny of the most stringent authorities, IG is regarded as a reliable company.

 

👉 Traders have access to many currency pairings, which provides them with a range of trading opportunities, commission-free options, a highly competitive trading market, and access to very advanced trading systems.

 

👉 This IG review for Botswana will provide local retail traders with the details that they need to consider whether IG is suited to their unique trading objectives and needs.

 

👉 IG accepts Botswanan clients and has an average spread from 0.1 pips with 0.10% commission. IG has a maximum leverage ratio up to 1:200 and there is a demo and Islamic account available.

 

👉 MT4, IG, ProRealTime (PRT), L2 Dealer, and FIX API platforms are supported. IG is headquartered in the United Kingdom and regulated by FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, and BMA.

 

IG Distribution of Traders

IG Distribution of Traders

👉 IG currently has the largest market share in these countries

➡️ United Kingdom – 27.7%

➡️ Japan – 10.7%

➡️ Australia – 8.2%

➡️ United States – 5.4%

➡️ Germany – 5.1%

 

Popularity among traders who choose IG

🥇 Even though it does not have a dominant position in the FX and CFD markets in Botswana, IG is ranked among the Top 20 brokers for retail and professional traders and investors.

 

IG At a Glance

🏛 HeadquarteredLondon, United Kingdom
🌎 Global OfficesGermany, France, Italy, Norway, Portugal, Ireland, Netherlands, Switzerland, United Kingdom, Spain, Austria, Sweden, United States, Australia, Singapore, Japan, South Africa, United Arab Emirates
🏛 Local Market Regulators in Botswana• Ministry of Finance and Economic Development (MFED)
• Bank of Botswana (BoB)
• Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
💳 Foreign Direct Investment in Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded1974
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• LinkedIn
• Twitter
• Facebook
• YouTube
⚖️ RegulationFCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA
1️⃣ Tier-1 Licenses• Financial Conduct Authority (FCA)
• Monetary Authority of Singapore (MAS)
• Japanese Financial Services Authority (JFSA)
• Commodity Futures Trading Commission (CFTC)
• Financial Markets Authority (FMA)
• Australian Securities and Investments Commission (ASIC)
• Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
• Swiss Financial Market Supervisory Authority (FINMA)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
• Dubai Financial Services Authority (DFSA)
• Financial Sector Conduct Authority (FSCA)
3️⃣ Tier-3 Licenses• Bermuda Monetary Authority (BMA)
🪪 License Number• United Kingdom (IG Markets Ltd) – 195355
• United Kingdom (IG Index Ltd) – 114059
• Germany – 10148759
• Cyprus (BrightPool Ltd) – 378/19
• Switzerland – FINMA
• Dubai – F001780
• Dubai DIFC – 1840
• South Africa – 41393
Singapore – 200510021K
• Japan – FSA
• Australia – ABN 84 099 019 851, AFSL 220440
• New Zealand – FSP18923
• United States – NFA ID 0509630
• Bermuda (IG • International Limited) – 54814
⚖️ MFED, BoB, or NBFIRA RegulationNo
✔️ Regional RestrictionsNone
☪️ Islamic AccountYes, Dubai traders only
💻 Demo AccountYes
🛍 Retail Investor Accounts7
✔️ PAMM AccountsYes
💻 Liquidity ProvidersSeveral Tier-1 partnerships, banks, and others
✔️ Affiliate ProgramYes
📱 Order ExecutionMarket
📊 Starting spreadFrom 0.1 pips DMA
📉 Minimum Commission per Trade0.10%
💰 Decimal Pricing5th decimal pricing after the comma
📞 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade SizeUnknown
✅ Crypto trading offered?Yes
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage• 1:30 (Retail, EU, UK)
• 1:222 (Professional)
📊 Leverage Restrictions for Botswana?No
💳 Minimum Deposit (BWP)2,900 BWP or an equivalent to $250
✔️ Botswana Pula Deposits Allowed?No
📊 Active Botswana Trader Stats250,000+
👥 Active Botswana-based IG customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💰 Deposit and Withdrawal Options• Bank Wire Transfer
• Debit Card
• Credit Card
• PayPal
💻 Minimum Withdrawal Time1 business day
⏰ Maximum Estimated Withdrawal TimeUp to five business days
💳 Instant Deposits and Instant Withdrawals?Yes, Deposits on PayPal
🏛 Segregated Accounts with Botswana Banks?No
📱 Trading Platforms• Forex
• Indices
• Share CFDs
• Commodities
• Cryptocurrencies
• Futures
• Options
• Bonds
• ETFs
• Digital 100s
• Interest Rates
💻 Tradable Assets• Forex
• Commodities
• Indices
• Bonds
• Cryptocurrencies
• Stocks
• Futures
✔️ Offers USD/BWP currency pair?No
📊 USD/BWP Average SpreadN/A
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/7
📞 Botswana-based customer support?No
💸 Bonuses and Promotions for Botswanans?No
📚 Education for Botswanan beginner tradersYes
📱 Proprietary trading softwareYes
🤝 Most Successful Trader in BotswanaUnknown
✔️ Is IG a safe broker for Botswana Traders?Yes
🎖 Rating for IG Botswana9/10
🥇 Trust score for IG Botswana99%
👉 Open Account👉 Open Account

IG Regulation and Safety of Funds

Regulation and Safety of Funds

IG Regulation in Botswana

👉 The local market regulators in Botswana are as follows:

➡️ Ministry of Finance and Economic Development (MFED)

➡️ Bank of Botswana (BoB)

➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

 

👉 While IG is regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, despite this, IG is a popular and trustworthy broker that accommodates Botswanan traders.

 

IG Global Regulations

Global Regulations

👉 IG is well-regulated by the FCA, BaFin, CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, and NFA, and BMA operates through several worldwide organizations.

 

👉 IG Markets Limited (IGM) and IG Index Limited (IGI), both founded in England and Wales, are separately regulated as investment enterprises by the Financial Conduct Authority (FCA) in the United Kingdom under license numbers 195355 and 114059, respectively.

 

👉 Within the parameters of their separate licenses, IGM and IGI may operate as principals or agents and execute orders for a range of derivatives and securities. In addition to professional and retail clients, IGM’s discretionary management services may also be advantageous.

 

👉 In Germany, the BaFin (10148759) and the Deutsche Bundesbank control IG Europe GmbH (IGE). This license enables IGE to offer a direct service to all European Union consumers.

 

👉 BrightPool Limited is an investment enterprise approved and regulated by the Cyprus Securities and Exchange Commission (CySEC) under regulation 378/19. As such, it acts as a market maker for a variety of asset types and offers investment and related services.

 

👉 IG Bank SA (IGB) is registered with the Swiss Financial Market Supervisory Authority as a broker-dealer (FINMA). If IG Bank SA keeps its license, trading will continue in the following instruments:

➡️ Bilateral non-tradable contracts for difference (CFDs)

➡️ A variety of custom derivatives on the underlying markets for currency exchange

➡️ Stocks

➡️ Indices

➡️ Precious metals

➡️ Commodities

 

👉 Under F001780 and DIFC 1840, the Dubai Financial Services Authority (DFSA) has authorized IG Limited, domiciled in Dubai, to create investment agreements and directly deal in investments as a principal.

 

👉 A branch of IG Markets South Africa Limited is headquartered in England and Wales. This specific entity is well-regulated by the Financial Sector Conduct Authority (FSCA) and licensed in South Africa as a Financial Service Provider with FSP41393.

 

👉 This rule and authorisation allow IG Markets to offer non-automated advising along with execution-only services across a broad variety of derivatives contracts.

 

👉 IG Asia Pte Ltd (IGA) is supervised, licensed, and controlled by the Monetary Authority of Singapore (MAS) under license number 200510021K. Under the Securities and Futures Act, as a registered capital markets service provider, it may trade over-the-counter derivatives contracts on a variety of platforms.

 

👉 IG Securities Ltd is approved and regulated by the Japanese Financial Services Agency (JFSA) associated with the following:

➡️ Currencies

➡️ Securities

➡️ Ministry of Economy Trade and Industry (METI)

➡️ Hard Commodities

➡️ Ministry of Agriculture, Forestry and Fisheries (MAFF)

➡️ Soft Commodities

 

👉 The Australian Securities and Investments Commission (ASIC) is a Tier-1 market regulator that oversees and regulates IGM in Australia under the ABN 84099019851. In addition, IGM runs under an Australian Financial Services Licence that has been validated (220440).

 

👉 In addition, IGM is governed in New Zealand by the Tier-1 market regulator namely the Financial Markets Authority (FMA). IGM operates under a derivative issuers licence FSP18923, which covers a vast array of derivative contracts.

 

👉 IG US LLC (IG US) is regulated by the Commodity Futures Trading Commission (CFTC) as a retail foreign currency dealer and introducing broker. Moreover, IG US LLC is a confirmed and active member of the National Futures Association with NFA ID 0509630.

 

👉 On an execution-only basis, IG US can offer spot FX and options on a rolling basis. Arizona and Ohio residents may not be permitted to establish an account.

 

👉 The Bermuda Monetary Authority authorizes IG International Limited (IG INT) to engage in investment and digital asset activities under license number 54814.

 

👉 According to its licenses, IG INT is authorized to provide CFDs on a broad range of asset classes, including cryptocurrencies, to retail clients on an execution-only basis.

 

IG Client Fund Security and Safety Features

Client Fund Security and Safety Features

👉 Because they are retail customers of IG, Botswanan traders may be certain that their client’s money is protected in a few separate ways.

 

👉 Customers in Botswana who have an IG account do not have to worry about the safety of their money since it is kept in separate accounts at high-ranking financial institutions all around the globe that are governed by stringent trustee arrangements.

 

👉 Because of this, IG will not be able to retrieve any of the monies that have been placed. Because it is acknowledged to be money belonging to customers, this also suggests that IG and the creditors with whom it is affiliated do not have any right to charge, claim, or right of set-off or retention over it.

 

👉 Banks such as Barclays and Lloyds, among others, serve as custodians for the segregated bank accounts. To ensure that the money belonging to their clients is not kept in a single place, they have made it a priority to disperse it over several different financial institutions.

IG Awards and Recognition

Awards and Recognition

👉 Multiple awards for trading excellence have been bestowed upon IG because of the high quality of the company’s customer service as well as the innovative nature of the trading tools that it makes accessible to its clients. IG has been lauded in the brokerage industry for both factors.

 

👉 IG has been honoured with several accolades, including some of the following:

➡️ The ADVFN International Finance Awards for Best Multi-Platform Provider

➡️ The Online Personal Wealth Awards for Best Trading Support

➡️ Best Overall Personal Wealth Provider

➡️ Professional Trader Awards for Best Overall Professional Trading Account

➡️ Best Trading App

➡️ ADVFN International Finance Awards for Best Multi-Platform Provider

IG Account Types and Features

Account Types and Features

👉 The comprehensive offering of IG may be observed according to the location in which traders are headquartered. IG now provides seven distinct retail accounts, which include the following:

➡️ CFD/DMA Trading Account

➡️ Limited Risk Trading Account

➡️ Options Trading Account

➡️ Turbo24 Trading Account

➡️ Share Dealing Account

➡️ Spread Betting Account

➡️ Swap-Free Trading Account

 

👉 The accounts that traders have access to according to their region include the following:

➡️ United Kingdom Accounts

➡️ European Accounts (excluding UK and Switzerland)

➡️ Australian Accounts

➡️ Switzerland, South Africa, Singapore, and New Zealand Accounts

➡️ Dubai Accounts

➡️ Japan Accounts

➡️ US (IG) Accounts

➡️ USA (NADEX) Accounts

 

👉 New traders are required to make a deposit of 2,900 Botswanan Pula, which is equivalent to $250, to open an account with IG. Traders have access to a variety of spreads, which they may choose according to the financial instrument being transacted. 

 

👉 Some typical spreads charged by IG are as follows:

➡️ Forex – 0.6 pips EUR/USD with an average spread of 0.75 pips

➡️ Forex – DMA spread of 0.1 pips

➡️ Indices – from 0.4 pips on the FTSE 100

➡️ Commodities – from 0.3 pips

➡️ Cryptocurrency – from 0.2 pips on Stellar

➡️ Futures – from 0.6 pips

➡️ Interest Rates – from 1 pip

➡️ Bonds – from 1 pip

 

👉 Fees on shares in the EU and the UK begin at 0.10%, whereas commissions on shares in the US begin at $0.2. The following sections might serve as a reference for traders in Botswana who are interested in opening an account with IG.

 

👉 A study of the individual account features accessible on the IG website does not contain a precise explanation of the many kinds of accounts that are currently offered.

 

IG Live Trading Account Details

United Kingdom Accounts

👉 These accounts are especially geared at meeting the requirements and achieving the goals of traders living in the UK.

Account FeatureValue
📉 Minimum Deposit Requirement£250
💻 Account Types Available• IG Trading Account
• IG Professional Account
• IG Spread Betting Account
💳 Deposit/Withdrawal Options• Debit Card
• Credit Card
• PayPal
📊 Account Opening RequirementsElectronic Verification with required documentation
❌ Negative Balance ProtectionYes
📈 Swap-Free OptionNo
💻 Trading Products offered• CFDs
• Share Dealing
• 18,000 Markets including indices, commodities, shares, forex, and more

 

European Accounts (excluding UK and Switzerland)

👉 European traders, apart from those located in the United Kingdom and Switzerland, have the option of opening either an IG Trading, Professional, Options, or turbo24 account. In addition, traders should expect the following account features:

Account FeatureValue
📉 Minimum Deposit Requirement£300
💻 Account Types Available• IG Trading Account
• IG Professional Account
• IG Options Account
• IG Turbo 24 Account
💳 Deposit/Withdrawal Options• Debit Card
• Credit Card
• PayPal
📊 Account Opening RequirementsElectronic Verification with required documentation
❌ Negative Balance ProtectionYes
📈 Swap-Free OptionNo
💻 Trading Products offered• CFDs
• Barriers
• Vanilla Options
• Tubo24 Warrants
• 18,000 Markets including indices, commodities, shares, forex, and more

 

Australian Accounts

👉 These accounts are made available to Australian traders by IG Markets Ltd., Australia, and provide them with trading conditions and features that are exclusive to the market as well as those that are competitive.

Account FeatureValue
📉 Minimum Deposit Requirement£450
💻 Account Types Available• IG Trading Account
• Limited Risk Account
• Share Dealing Account
💳 Deposit/Withdrawal OptionsNon-APAC Residents – Free Debit/Credit Card Deposits and Withdrawals, while APAC Residents can expect some charges:
• Debit Cards – Free
• Credit Cards – 1%
• VISA – 0.5%
• MasterCard – 1%
• PayPal – 1%
📊 Account Opening RequirementsElectronic Verification
❌ Negative Balance ProtectionYes, IG Trading Account
📈 Swap-Free OptionNone
💻 Trading Products offered• CFDS
• Options
• Digital 100s
• Share Dealing
• 18,000 Markets including indices, commodities, shares, forex, and more

 

Switzerland, South Africa, Singapore, and New Zealand Accounts

👉 These territories are covered by IG Bank S.A., IG Markets South Africa Ltd., IG Asia Pte Ltd., and IG Markets Ltd, Australia, which provide worldwide customers with access to IG’s broad product offering and trading solutions.

 

👉 There are no expenses associated with opening an IG account, apart from the required minimum deposit. Once Botswana customers have funded their trading account and begun trading, IG will only charge them the spread or a minor commission fee on equity trades.

 

👉 To ensure that new clients get a low minimum contract price, a margin payment (starting at 0.5% on EUR/USD) is needed. There is a lot of opportunity for manoeuvre since traders only pay a fraction of what they would ordinarily.

Account FeatureValue
📉 Minimum Deposit Requirement2,500 CHF, 4,000 ZAR, 600 SGD, 680 NZD, 2,900 BWP, or any other accepted currency from these regions
💻 Account Types Available• IG Trading Account
• Limited Risk Account
💳 Switzerland Deposits/Withdrawals• Debit Card – Free
• Credit Card – Free
South Africa Deposits/Withdrawals• Debit Card – Free
• Credit Card Free
Singapore Deposits/Withdrawals• Debit Card – 2.3%
• Credit Card – 2.3%
New Zealand Deposits/Withdrawals• Debit Card – Free
• Credit Card – 1%
• VISA – 0.5%
📊 Account Opening Requirements• Switzerland – Proof of Identity document
• South Africa – Proof of Identity document
• Singapore – Proof of Identity document
• New Zealand – Electronic Verification
❌ Negative Balance ProtectionYes, IG Trading Account
📈 Swap-Free OptionNo
Trading Products Switzerland, Singapore, New Zealand• CFDS
• Options
• Digital 100s
• 18,000 Markets including indices, commodities, shares, forex, and more
💻 Trading Products offered• CFDs
• 18,000 Markets including indices, commodities, shares, forex, and more

 

Dubai Accounts

👉 Traders in this area may make use of IG Limited’s complete trading solutions and services. Traders can anticipate the following account features and choices while working with IG:

Account FeatureValue
📉 Minimum Deposit Requirement1,600 AED ($450)
💻 Account Types Available• IG Trading Account
• Limited Risk Account
• Swap-Free Account
💳 Deposits/WithdrawalsFree deposits and withdrawals on Credit and Debit Cards
📊 Account Opening RequirementsProof of Identity Documents
❌ Negative Balance ProtectionYes
📈 Swap-Free OptionYes
💻 Trading Products offered10,000+ Markets spread across indices, commodities, cryptocurrencies, and more

 

Japan Accounts

👉 IG Securities Ltd. is based in Japan and is licensed by the JFSA. It offers the following trading services to Japanese clients:

Account FeatureValue
📉 Minimum Deposit Requirement¥35,000
💻 Account Types Available• IG Trading Account
• Limited Risk Account
💳 Deposits/WithdrawalsFree deposits and withdrawals on Credit and Debit Cards
📊 Account Opening RequirementsProof of Identity Requirements
❌ Negative Balance ProtectionYes, IG Trading Account
📈 Swap-Free OptionNone
💻 Trading Products offered10,000+ Markets spread across indices, commodities, cryptocurrencies, and more

 

US (IG) Accounts

👉 Traders in the United States may open an IG Trading Account, which gives them access to the following features:

Account FeatureValue
📉 Minimum Deposit Requirement$250
💳 Deposits/Withdrawals• Debit Card – Free
• Credit Card – Free
• Bank Wire Withdrawal – $25
📊 Account Opening RequirementsElectronic Verification and required documents
❌ Negative Balance ProtectionYes
📈 Swap-Free OptionNone
💻 Trading Products offered80+ Forex Pairs

 

USA (NADEX) Accounts

👉 This is IG’s exchange account, which US traders may utilize to trade exchange-traded binaries. This account also includes the following features:

Account FeatureValue
📉 Minimum Deposit Requirement$250
💳 Deposits/WithdrawalsUS Residents:
• Debit Card – Free
• ACH – Free
• Bank Wire Deposits – Free
• Bank Wire Withdrawals – $25
Non-US Residents:
• Debit Cards – Free
• International Bank • Transfer Deposits – Free
• International Bank • Transfer Withdrawals – $25
📊 Account Opening RequirementsProof of Identity
❌ Negative Balance ProtectionNone
📈 Swap-Free OptionNone
💻 Trading Products offered10,000+ contracts, including indices, forex, and commodities

 

IG Professional Account

IG Professional Account

👉 Professional clients have access to account features that retail clients do not, albeit at the expense of certain investment safeguards.

 

👉 As a professional IG client, you must avoid your account from entering negative territory. In such a case, you will be required to make further payments to bring the balance over zero.

 

IG Base Account Currencies

IG Base Account Currencies

👉 Because of IG’s global offering, there are several base currencies to choose from when you register an account. However, the default currency for all accounts is USD and traders must submit a written request to IG’s customer support to have this changed.

 

👉 If IG does not support BWP as a base account currency, it would mean that traders could be subject to currency conversion fees.

 

IG Demo Account

Demo Account

👉 IG provides several platforms and selecting between them is not an easy option. All customers have access to a free demo account that assists them in identifying the most feasible and successful trading platform options.

 

👉 The demo account is the best place to begin if you want a risk-free account that replicates real trading with virtual cash and no commitment. Here, you can get a risk-free introduction to your broker, the overall industry, and trading platforms.

 

👉 In addition, because the account uses virtual funds that can be reset at any given time, you are never required to deposit real funds.

 

👉 This is an ideal starting place for beginner Botswanan traders, and the IG Markets sample account never expires.

 

IG Islamic Account

Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 IG Markets has an Islamic account option. This swap-free account is nevertheless only accessible to traders who are registered with the Dubai-based broker’s UAE company. This account type is naturally Sharia-compliant since it does not levy a rollover fee.

 

👉 However, IG may impose an extra fee of an additional fee to cover the swap, and some assets may not be accessible for trading with this account type.

How to open an Account with IG in Botswana

How to Open An Account

👉 Simply follow the registration procedures on the IG website and submit the digital application form to the broker to open an IG trading account.

 

👉 If Botswanan traders have a Facebook or Google account, they may quickly join up for an IG account, granting them access to the demo trading account and the trading account administration section.

 

👉 Following these steps, Botswanans can register for an account:

➡️ Botswanans can create a live account by clicking “Create Live Account” in the upper right corner of the IG website.

➡️ A web-based application form will load, and traders can fill it out.

➡️ Traders can validate their email address by clicking the linked link in the verification email.

➡️ Traders can complete the Know Your Customer (KYC) procedure by giving evidence of identification and residency.

➡️ Traders can fill out a questionnaire to establish their level of trading expertise.

➡️ Upon account approval, Botswanan traders can make the minimum deposit and begin trading.

IG Vs Tickmill Vs FBS – Broker Comparison

🥇 IG🥈 Tickmill🥉 FBS
⚖️ RegulationFCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMASeychelles FSA, FCA, CySEC, Labuan FSA, FSCAIFSC, CySEC, ASIC, FSCA
📱 Trading Platform• MetaTrader 4
• IG Platform
• ProRealTime (PRT)
• L2 Dealer
• FIX API
• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
• FBS Trader
• CopyTrade
💰 Withdrawal FeeNoNoYes
📊 Demo AccountYesYesYes
📈 Minimum Deposit2,900 BWP1,200 BWP12 BWP
📊 Leverage• 1:30 (Retail, EU, UK)
• 1:222 (Professional)
1:500Up to 1:3000
📊 SpreadFrom 0.1 pips DMAVariable, from 0.0 pipsFrom 0.0 pips
💰 CommissionsFrom 0.10%$1 per side per 100,000 tradedFrom $6
✴️ Margin Call/Stop-Out100%/50%100%/30%40%/ 20%
💻 Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoYesYes
📊 Cent AccountsNoNoYes
📈 Account Types• CFD/DMA Trading Account
• Limited Risk • Trading Account
• Options Trading Account
• Turbo24 Trading Account
• Share Dealing Account
• Spread Betting Account
• Swap-Free Trading Account
• Pro Account
• Classic Account
• VIP Account
• FBS Cent Account
• FBS Micro Account
• FBS Standard Account
• FBS Zero Account
• FBS ECN Account
• FBS Crypto Account
⚖️ CBN RegulationNoNoNo
💳 BWP DepositsNoNoYes
📊 Botswana Pula AccountNoNoNo
👥 Customer Service Hours24/724/524/7
📊 Retail Investor Accounts736
☪️ Islamic AccountYes, DubaiYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade SizeUnlimited100 lots500 lots
💰 Minimum Withdrawal Time1 business day1 business day15 to 20 minutes (maximum 48 hours)
📊 Maximum Estimated Withdrawal TimeUp to five business days2 to 7 Business DaysUp to 7 days
💸 Instant Deposits and Instant Withdrawals?Yes, Deposits on PayPalInstant DepositsInstant Deposits

IG Trading Platforms

IG Trading Platforms

👉 IG offers Botswanan Traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ IG Platform

➡️ ProRealTime (PRT)

➡️ L2 Dealer

➡️ FIX API

 

Desktop Platforms

➡️ MetaTrader 4

➡️ IG Platform

➡️ L2 Dealer

 

MetaTrader 4

MetaTrader 4

👉 MetaTrader 4 is offered to IG Markets traders and is one of the industry’s most powerful and reliable trading platforms. It facilitates the trading of foreign exchange, indexes, and commodities in the most intuitive and customizable manner possible.

 

👉 The MT4 trading platform is compatible with AutoChartist and Trading Central services and is compatible with both Windows and Mac operating systems.

 

IG Platform

IG Platform

👉 The IG Markets trading program on the web is simply a blank canvas where you may insert different trading items and alter the size to your liking, enabling you to personalize your trading interface.

 

👉 The platform brings together a variety of features, including a Reuters-aggregated news feed, IG’s in-house analysts, configurable price and indicator level alerts, and trading signals.

 

L2 Dealer

L2 Dealer

👉 The L2 Dealer platform is intended for stockbroking, while it does support trading in all IG assets. Although algo trading is not allowed on this platform, it is a popular and user-friendly option for trading.

 

👉 However, premium add-on services for this trading platform may be bought to help you improve your trading experience even further.

 

WebTrader Platforms

➡️ MetaTrader 4

➡️ IG Platform

➡️ ProRealTime

➡️ FIX API

 

MetaTrader 4

MetaTrader 4

👉 The vast majority of forex and CFD providers offer MetaTrader 4 Web as a trading platform. The consistency attributable to MetaTrader 4 is an advantage for traders, especially because they can change brokers without having to learn a new interface, change their trading technique, or re-develop their trading bots.

 

👉 The IG MT4 platform is limited to FX and CFD trading and does not include the hundreds of instruments offered on other IG platforms.

 

IG Platform

IG Platform

👉 The IG Markets WebTrader is a well-known trading platform that serves as the broker’s proprietary trading platform and offers exceptional trading capabilities and accessibility to all traders.

 

👉 You can also do all the account administration operations you may need, as well as carry out fundamental or technical analysis if necessary.

 

👉 Overall, IG’s trading interface is quite appealing and straightforward, and it is popular with all sorts of traders.

 

ProRealTime

ProRealTime

👉 ProRealTime is a powerful chart analysis program that can give you precise market data and charting analysis. It is only accessible as a WebTrader. It is free for the first month, but it will cost you $30 per month after that. This cost will be returned if you are an active trader at IG Markets.

 

FIX API

FIX API

👉 API stands for “Application Programming Interface.” The term “API” does not refer to a platform in and of itself; rather, it refers to software that links applications, such as connecting your platform to your IG trading account.

 

👉 You can access the IG Group “ecosystem” when you trade using APIs, which is a fancy way of stating you will have more control and order execution will be quicker.

 

Trading App

➡️ MetaTrader 4

➡️ IG Platform

 

MetaTrader 4

MetaTrader 4

👉 MetaTrader 5, the improved version of MT4, is not available from IG Group. Fortunately, MT4 remains a good client, and this downloadable platform has been the industry standard since 2002.

 

👉 When it comes to server uptime, MT4 is unrivalled in the market. Third-party bridges are not available. You can either trade short or long on hundreds of markets with modest spreads.

 

👉 You can access, change, and monitor your positions no matter where you are with the app’s full-dealing capability. For risk control, you may use trailing and assured stops, amongst several other useful tools and components.

 

IG Platform

IG Platform

👉 Another proprietary trading platform is the IG mobile app, which is accessible on iOS and Android for both your smartphone and other smart devices.

 

👉 The platform itself is quite robust for a mobile app, and it offers many of the same features as the WebTrader. You will also get access to AutoChartist and a variety of tools to make trading on the move a seamless experience.

IG Range of Markets

Range of Markets

👉 Botswanan Traders can expect the following range of markets from IG:

➡️ Forex

➡️ Indices

➡️ Share CFDs

➡️ Commodities

➡️ Cryptocurrencies

➡️ Futures

➡️ Options

➡️ Bonds

➡️ ETFs

➡️ Digital 100s

➡️ Interest Rates

 

Financial Instruments and Leverage offered by IG

🔨 Instrument💰 Number of Assets Offered📈 Max Leverage Offered
➡️ Forex80• Retail, EU, UK – 1:30
• Professional – 1:222
➡️ Indices80• Retail – 1:20
• Professional – 1:222
➡️ Share CFDs13,000• Retail – 1:5
• Professional – 1:22
➡️ Commodities35• Retail – 1:10
• Professional – 1:222
➡️ Cryptocurrency101:20
➡️ Options201:20
➡️ Bonds121:20
➡️ ETFs6,0001:10
➡️ Digital 100s28Not Leveraged
➡️ Interest Rates61:50

Broker Comparison for Range of Markets

🥇 IG🥈 Tickmill🥉 FBS
➡️️ ForexYesYesYes
➡️️ Precious MetalsYesYesYes
➡️️ ETFsYesNoNo
➡️️ CFDsYesYesYes
➡️️ IndicesYesYesYes
➡️️ StocksYesYesYes
➡️️ CryptocurrencyYesYesYes
➡️️ OptionsYesNoNo
➡️️ EnergiesYesYesYes
➡️️ BondsYesYesNo

IG Trading and Non-Trading Fees

Spreads

👉 The spread is the most important expense when trading CFDs. The broker gathers wholesale pricing, frequently from several sources, and aggregates the prices to get the optimum bid and ask prices. On both this bid and ask price, the broker will apply a mark-up, resulting in a profit for the brokerage.

 

👉 Because the broker gets its pricing from outside sources, it does not necessarily execute transactions externally. Instead, it offsets customers’ orders internally. The risk of these orders can be mitigated since IG Markets has hundreds of thousands of customers trading in many ways.

 

👉 If the broker does not use an external service to deliver the deal, they enhance their profit margin even more. The spread varies according to the product and liquidity. The narrower the spreads grow, the more active the market is.

 

👉 IG Markets charges some of the following spreads on financial instruments:

➡️ Forex – 0.6 pips EUR/USD with an average spread of 0.75 pips

➡️ Forex – DMA spread of 0.1 pips

➡️ Indices – from 0.4 pips on the FTSE 100

➡️ Commodities – from 0.3 pips

➡️ Cryptocurrency – from 0.2 pips on Stellar

➡️ Futures – from 0.6 pips

➡️ Interest Rates – from 1 pip

➡️ Bonds – from 1 pip

 

Commissions

👉 Unlike CFDs, there is no spread mark-up when you buy and sell shares with IG; they transmit your orders straight to the exchanges and offer you the best available price. Instead, they charge a commission depending on the transaction’s value and, in many circumstances, a minimum fee.

 

👉 The charges paid by IG Markets for trading stocks are determined by the number of transactions you made in the preceding month and the underlying exchange where the product is traded.

 

👉 Commissions are charged as follows:

➡️ EU and UK Shares – 0.10%

➡️ US Shares – $0.2

 

Overnight Fees, Rollovers, or Swaps

👉 When you trade CFDs with leverage, particularly FX, you are effectively borrowing money to keep your position open.

 

👉 If you borrow money from a broker to hold positions overnight, you are charged a fee at the end of each trading day. In addition, you could be charged triple fees before weekends or on Wednesdays for weekend positions.

 

👉 Brokers utilize a variety of methods to determine the fees that are paid to or deducted from traders. The method IG determines overnight financing costs differs by asset class; therefore FX, indices, commodities, and shares are all calculated differently.

 

👉 The following formula is used to calculate CFD overnight fees with IG:

➡️ The number of contracts is multiplied by the contract value and price x (SONIA% +/- the 2.5% admin fee) divided by 365.

 

👉 If traders have a long position, the formula will be added while a short position will be subtracted, as follows:

➡️ Long Position – Number of contracts x contract value x price (SONIA% + 2.5% admin fee) / 365.

➡️ Short Position – Number of contracts x contract value x price (SONIA% – 2.5% admin fee) / 365.

 

Deposit and Withdrawal Fees

👉 When traders fund their trading accounts using credit or debit cards via IG, they are subject to a transaction fee equal to 2.1% of the total deposit amount.

 

Inactivity Fees

👉 If you have not used your trading account to conduct trades for more than two years, IG will begin charging an inactivity fee of 12 USD on the first day of every month until you begin using your account again to execute trades.

 

👉 You will not fall behind on payments because of this fee since it is only deducted when there is available money in the account.

 

Currency Conversion Fees

👉 When you trade items that are quoted in a currency that is different from the currency of your account, you are subject to a currency conversion charge equal to 0.5% of the total transaction value.

 

👉 For instance, if the base currency of your trading account is BWP but you trade shares denominated in USD, you will be subject to a currency conversion fee, and the same will apply for deposits and withdrawals that are made in BWP to a USD-denominated account.

IG Deposits and Withdrawals

Deposits and Withdrawals

👉 IG offers the following deposit and withdrawal methods:

➡️ Bank Wire Transfer

➡️ International Transfers

➡️ Cheques

➡️ ACH

➡️ PayPal

➡️ Debit Cards

➡️ Credit Cards

 

Broker Comparison: Deposit and Withdrawals

🥇 IG🥈 Tickmill🥉 FBS
Minimum Withdrawal Time1 business day1 business day15 to 20 minutes (maximum 48 hours)
Maximum Estimated Withdrawal TimeUp to five business days2 to 7 Business DaysUp to 7 days
Instant Deposits and Instant Withdrawals?Yes, Deposits on PayPalInstant DepositsInstant Deposits

 

IG Deposit Currencies, Deposit and Withdrawal Processing Times

💳 Payment Method💰 Deposit Currencies🔁 Deposit Processing💳 Withdrawal Processing
Bank Wire TransferDepends on Region1 business day1 to 5 days
International TransfersDepends on Region1 business day1 to 5 days
ChequesUSD1 business day1 to 5 days
ACHUSD1 business day1 to 5 days
PayPalUSDInstant1 to 5 days
Debit CardsAUD, GBP, EUR, CAD, SGD, JPYInstant1 to 5 days
Credit CardsAUD, USD, JPY, EUR, SGD, GBPInstant1 to 5 days

How to Deposit Funds with IG

How to Deposit Funds

👉 To deposit funds to an account with IG, Botswanan Traders can follow these steps:

➡️ Traders can make deposits into their trading accounts by logging into their My IG portals and selecting the “Deposit” option from the menu.

➡️ Traders have the option of selecting the payment method they desire to use, selecting the deposit currency, and entering the amount they wish to deposit.

➡️ Traders may need to complete extra steps to successfully finish a deposit depending on the form of deposit used.

➡️ Traders who want to make an overseas payment to IG are required to ensure that they give the broker proof of payment once funds have been sent.

IG Fund Withdrawal Process

IG Fund Withdrawal Process

👉 To withdraw funds from an account with IG, Botswanan Traders can follow these steps:

➡️ Traders from Botswana who want to withdraw money can do so by logging into their My IG portals, navigating to the “Live Accounts” section, and then clicking on the “Withdraw Funds” button.

➡️ Traders are only able to withdraw money through a bank transfer, and if they first deposited funds using a credit or debit card, they must use that card to withdraw their cash.

➡️ When making their first withdrawal of cash, traders are required to provide a bank statement that specifies their original deposit as well as any future deposits made to their bank account.

➡️ Traders are required to provide this information through email to the helpdesk email address listed on the official website’s Help and Support page.

➡️ After the information has been checked and validated, the request to withdraw funds may be processed and fulfilled.

IG Education and Research

IG Education and Research

Education

👉 IG offers the following Educational Materials:

➡️ IG Academy

➡️ Risk Management Guidelines

➡️ Maximizing Trading Success

➡️ Developing a Trading Strategy

➡️ Webinars

➡️ Seminars

➡️ Glossary

 

Research and Trading Tool Comparison

🥇 IG🥈 Tickmill🥉 FBS
➡️ Economic CalendarYesYesYes
➡️ VPSYesYes, not freeYes
➡️ AutoChartistYesYesNo
➡️ Trading ViewNoNoNo
➡️ Trading CentralNoNoNo
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes

 

👉 IG also offers Botswanan traders the following additional Research and Trading Tools:

➡️ News and Trade Ideas

➡️ Trading Strategies

➡️ Financial Events

➡️ Trade Analytics Tool

➡️ Subscriptions and Downloads

➡️ Special Reports

➡️ Podcasts

➡️ Economic Calendar

IG Bonuses and Promotions

👉 There is just one bonus program available currently, and it is a refer-a-friend program. If the person you suggest makes five eligible transactions, you could be rewarded up to $10,000 if you make multiple successful referrals who meet the trading volume criteria for this bonus.

How to open an Affiliate Account with IG

How to open an Affiliate Account with IG

👉 To register an Affiliate Account, Botswanan Traders can follow these steps:

➡️ Interested affiliates can go to the official IG website and choose “Marketing Partnership” on the homepage.

➡️ Read the Affiliate Program details and then click the “Fill in our Form” link at the bottom of the page.

➡️ Fill out the registration form with your name, email address, website address, and cell phone number.

➡️ After the IG team confirms that you match the criteria, an IG agent will contact you to discuss the result of your application.

➡️ If your application is accepted, you may begin looking at the extensive program, marketing materials, tools, and other features that IG provides to its partners.

 

IG Affiliate Program Features

IG Affiliate Program Features

👉 IG is widely acknowledged as the industry standard broker in both online trading and investing. IG is a well-established, well-respected firm that is listed on the FTSE 250, and the broker has an exceptional balance sheet.

 

👉 IG has over 40 years of expertise working in global financial markets, which is another reason why many are attracted to its affiliate program.

 

👉 The following advantages and capabilities are made available to Botswanans via IG’s Affiliate Program:

➡️ Because of the sophisticated and all-encompassing monitoring system, affiliates could earn a bonus of up to $1,000 for each new client who meets the requirements and joins IG because of their efforts.

➡️ Tailored online and mobile banners are developed to boost the number of times a banner advertisement is selected to be seen.

➡️ Not only do partners get access to various reports and dashboards, but they also have access to a dedicated relationship manager as well as our multilingual support team.

➡️ Affiliates may instantly provide a convincing offer for their consumers by promoting IG and the broker’s world-class goods. This enables the affiliates to increase their sales.

The following are the minimal prerequisites for participation in an IG affiliate program:

➡️ Any potential partners must be above the age of 18 to be considered.

➡️ The potential affiliate must provide evidence of the operation of a website.

➡️ Either trading or financial services should be the primary emphasis of the website.

➡️ Information about business or finances must be presented on the website in a way that is fair and unbiased.

➡️ The website must be geared at users who are above the age of 18 as its target demographic.

IG Customer Support

IG Customer Support

👉 IG offers 24/7 customer support that can be contracted in several ways including live chat, email, and telephonically. This ensures that traders have all the help that they need when they may need it.

 

Customer SupportIG ‘s Customer Support
⏰ Operating Hours24/7
🗣 Support LanguagesEnglish, Chinese, French, German, Italian, Arabic, Japanese, Spanish, Swedish, Norwegian, Portuguese, Dutch, Danish
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of IG Support4.8/5

IG Corporate Social Responsibility

IG Corporate Social Responsibility

👉 According to IG, its employees have a sense of responsibility in the operations of the business and the effect that operations have on people and the environment. The IG Group’s success is due to its devotion to ethics, which can be seen in the following:

➡️ An online broker’s regular activities produce fewer harmful pollutants than many businesses in other industries. IG is proud to be carbon neutral under PAS2060 and to minimize its environmental impact.

➡️ IG believes in protecting the environment and helping others. IG contributes 1% of its post-tax income to charity.

➡️ IG also requires its workers to volunteer time and money to Brighter Future Finance, which funds community outreach activities.

➡️ As a financial services firm, IG must maintain strong governance and regulatory requirements. IG has established a thorough risk management technique to keep the broker on track.

➡️ Key Risk Indicators and risk ratings assist IG to meet its own criteria.

Our Verdict on IG

👉 There is a great degree of confidence in IG, which is why it is fully regulated and listed on the London Stock Exchange. When it comes to online trading, IG is one of the finest brokers.

 

👉 A complete library of training and guidance on how to day trade effectively is available on IG’s website, making it a great broker for newbies to get started. Charts, market news, customer mood, and data and analytical tools are all available to traders.

 

👉 IG is an excellent choice for both novice and experienced traders, with low spreads, a wide range of trading instruments, and innovative news, research, and instructional website.

 

👉 As their accounts grow in value, clients can choose from a choice of platforms and upgrade at any time. In addition, direct market access (DMA) bypassing the dealing desk is something that is an advantage for professional traders.

IG Pros and Cons

✔️ Pros❌ Cons
IG offers competitive spreads that ensure that traders receive the best pricing in a competitive marketIG requires a high minimum deposit
There are several educational resources offered by IGThere are currency conversion fees and inactivity fees charged
IG offers flexible forex and CFD trading over several trading platformsThere is a limited range of funding and withdrawal options offered by IG
IG offers one of the largest portfolios of tradable instrumentsThere is a restriction on the leverage level that traders can expect from IG
IG’s customer support is available around the clock
There are several account types to choose from according to the trader’s country of residence and market regulator
There are several reliable funding options offered by IG
IG offers an Islamic account and a demo account

FAQ

Is IG regulated?

Yes, IG is well-regulated by eight Tier-1, three Tier-2, and one Tier-3 market regulators in the United Kingdom, Singapore, Japan, the United States, New Zealand, Australia, Germany, Switzerland, Cyprus, Dubai, and South Africa, and Bermuda.

 

How much leverage does IG offer?

IG offers leverage up to 1:30 to UK and EU residents along with retail traders. Professional traders have access to leverage up to 1:222.

 

Is IG an ECN broker?

Yes, IG is an ECN, STP, and DMA broker. IG employs Electronic Communications Network (ECN), Straight-Through Processing (STP), and Direct Market Access (DMA) technology.

 

What is the withdrawal time with IG?

Withdrawals can take from 1 working day up to five business days, depending on the payment method that you used.

 

How much does IG charge per trade on shares?

Between $5 to $8. If you had more than three trades in the previous month, you can expect commissions of $5 per trade while fewer trades will cost you $8 per trade.

 

Does IG use MT4?

Yes, IG offers MT4 along with these trading platforms:

  • IG Platform
  • ProRealTime (PRT)
  • L2 Dealer
  • FIX API

 

Is IG safe or a scam?

IG is one of the safest brokers in the world with a 99% trust score.

 

Does IG have Nasdaq?

Yes, IG offers Nasdaq as part of its financial instrument portfolio.

 

Does IG have Volatility 75?

Yes, IG is one of a few forex and CFD brokers that currently offer VIX as an Index CFD.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with IG?

➡️ What was the determining factor in your decision to engage with IG?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with IG such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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