IG Broker Account Type

IG offers a variety of account types to cater to different trading needs and preferences. The account options can be broadly categorized into leveraged and non-leveraged accounts:

• Leveraged Accounts:
• Spread Betting Account: This account allows traders to speculate on price movements without owning the underlying assets. Profits are tax-free in the UK, making it a popular choice among UK traders.
• CFD Account: Similar to spread betting, this account enables traders to speculate on the price movements of various markets without owning the underlying assets. Profits from CFD trades can be offset against losses for tax purposes.
• Non-Leveraged Accounts:
• Share Dealing Account: This account allows traders to buy and sell shares outright, providing ownership of the assets.
• Stocks and Shares ISA Account: A tax-efficient way to invest in stocks and shares, allowing profits to be tax-free.
• IG Smart Portfolio Account: Managed portfolios designed for long-term investment, tracking iShares ETFs.

Additionally, IG provides a demo account for practice, allowing users to trade with $20,000 in virtual funds.

IG Broker Account Opening Process

Opening an account with IG is a straightforward process that typically takes about 5 minutes. Heres a step-by-step guide:

• Visit the IG Website: Navigate to the IG website and click on the “Create Account” button.

• Fill Out the Registration Form: Provide your personal details, including your name, email address, and create a password.

• Provide Additional Information: Fill in your date of birth, contact number, country of residence, and financial details such as income and trading experience.

• Choose an Account Type: Select the type of account you wish to open, such as a CFD account or a share dealing account.

• Identity Verification: Upload two forms of ID—one for identity verification (passport or driver's license) and one for proof of address (utility bill or bank statement).

• Fund Your Account: Once your application is approved, you can deposit funds into your account using various methods, including debit/credit cards or bank transfers. The minimum deposit for card payments is $50, while bank transfers have no minimum deposit requirement.

• Start Trading: After funding your account, you can access IGs trading platforms and start trading.

For more information, you can visit IG's official website.