IG Markets is a popular online trading platform that operates in a long list of countries worldwide. It offers stock, ETF and CFD trading on a wide range of markets, but does it operate in Canada?
Is IG Markets available in Canada?
No. Unfortunately, IG Markets does not offer trading accounts to Canadian residents. So if you’re searching for an online stock or CFD trading platform, you will need to consider other options.
Keep reading to find out more about six alternatives to IG Markets in Canada.
IG Markets trading platform alternatives in Canada
How does the IG Markets trading platform work?
The exact products and features IG Markets offers vary in different countries around the world. To give you an idea of the platform’s key features, let’s look at how IG Markets works in its home country, the United Kingdom.
Commission-free trading
IG Markets offers commission-free stock and ETF trading to its customers. There are no account fees to worry about either, but foreign exchange fees may apply when users trade non-GBP stocks.
Tradeable assets
IG Markets provides access to over 15,000 markets worldwide. It’s best known as a CFD trading platform, allowing users to trade stocks, ETFs, indices, commodities, forex and more. But it provides the option to buy and sell stocks directly too, with over 12,000 stocks to choose from. Finally, IG Markets clients can also buy and sell over 100 cryptocurrencies, including major digital assets like Bitcoin, Ethereum and Solana.
Earn interest
IG Markets pays interest on the uninvested cash its customers hold in their accounts. At the time of writing, the broker was paying interest at a variable rate of 3.75%.
Choice of trading platforms
IG Markets customers can choose from a variety of platforms based on their trading experience and needs. It all starts with the online trading platform, where users can trade spread bets, CFDs and stocks. There’s a highly rated mobile app available, the IG tastytrade platform for trading options and futures, and those wanting advanced charting tools can trade derivatives on the ProRealTime platform. Other options include MetaTrader 4 and 5 for forex traders, the L2 Dealer direct market access platform, or spread bet and CFD trading on TradingView.
IG Smart Portfolios
IG Markets also provides access to a range of low-fee, managed portfolios to suit different financial needs. Customers can complete a questionnaire to be matched with a portfolio that meets their goals and risk tolerance, with portfolios featuring a mix of stocks, bonds and commodities. The portfolios are designed by BlackRock and come with management fees starting from 0.50%.
Can you open an IG Markets account in another country?
Yes, you can open an IG Markets account in countries other than Canada. Though it’s not available in Canada, IG Markets does offer trading services in several other countries around the world.
Which countries does IG Markets operate in?
IG Markets operates in a range of countries, including:
United Kingdom
United States (through its tastytrade subsidiary)
Australia
Singapore
Japan
New Zealand
Germany
France
Spain
Italy
Philippines
Malaysia
Can you use IG Markets in Canada?
No. IG Markets does not support Canadian accounts, so you can’t open an IG Markets trading account in Canada.
If you’re a resident of another country and travelling to Canada, however, you should still be able to access your IG Markets account. But be aware that in some cases your access may be blocked.
What is the best IG Markets alternative in Canada?
There’s no such thing as a one-size-fits-all broker that is the best choice for every investor and trader. The right platform for you depends on what you want to trade, your level of trading experience, and a wide range of other factors. You’ll need to compare platforms based on your unique needs to work out which one is right for you.
That being said, we think Interactive Brokers and Moomoo are two of the best alternatives to IG Markets in Canada. Interactive Brokers impresses with its low commissions, its access to a huge range of global markets, and the myriad charting tools and order types it offers for advanced traders. Moomoo also offers low fees and pro-level charting tools, and we appreciate its inclusion of free Level 2 market data to suit active traders.
Yes, IG Markets is 100% legit. It was founded in 1974 and is part of IG Group, which is headquartered in London.
IG Markets is authorized and regulated by the Financial Conduct Authority in the UK, and is overseen by several other regulatory bodies in other countries around the world.
Bottom line
IG Markets isn’t available in Canada, but there are several other legit online trading platforms you can turn to instead. Compare brokers based on your needs to find the perfect place to start investing or trading.
Frequently asked questions about IG Markets
No. IG Markets is part of IG Group, a United Kingdom-based company that is headquartered in London.
Yes, CFD trading is legal in Canada. However, it is heavily regulated by provincial securities regulators and the Canadian Investment Regulatory Organization (CIRO).
Most Canadian brokers that offer stock trading don't support crypto trading. However, Wealthsimple Investing is one platform that offers crypto trading alongside stock and ETF trading.
There are several platforms that provide access to robo-advisor services and managed portfolios in Canada. Popular options include Questwealth Portfolios, Wealthsimple Invest, Qtrade Guided Portfolios, BMO SmartFolio and RBC.
Sources
Important information: Powered by Finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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