Hey, does anybody here know if IG is a good broker for beginners? I’m a novice and well aware I’ve got loads to learn so I need a firm that’s best for newbie traders really and IG is a name I’ve seen pop up a fair amount.

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[James BarraModerator DayTrading.com Team]

Hi Emanuel,

Thank you for your message.

Our team have evaluated IG (several of which use it for real money trading) and have found it to be a superior option for beginners. This is for several reasons:

1. The IG Academy, available on the website or as a mobile app, offers an array of educational resources that you can filter by experience level. Notably, it houses 18 courses (taking roughly 30 to 90 mins to complete), plus progress tracking quizzes.

2. IG has some of best research tools we’ve seen. From the social analysis and IGTV to its live webinars, Trade of the Week, the Week Ahead, Morning Call and a section specifically for trading strategies (including short-term), it far surpasses most brokers in supporting trading decisions.

3. IG has a demo account that doesn’t expire with $10k in virtual funds. This is a great place to start if you are new to trading. There is also no minimum deposit making it accessible for budget traders.

In fact, IG secured our spot as the best broker for beginners in our latest analysis of the market, so it’s a sensible option.

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[Christian HarrisParticipant]

IG stands out as a top-notch broker, particularly for UK traders interested in spread betting. Its charting platform and tools are unparalleled, and the ease of depositing and withdrawing is a major plus.

The best part? Demo accounts have no time limit, allowing you to hone your skills until you’re ready to invest real funds.

However, after using the platform for over 5 years, I can tell you that trading costs are higher than most other brokers. New traders with small account balances may struggle to trade large-cap stocks (spread betting or CFDs) due to the minimum position size required – often hundreds of pounds.

For beginners, I suggest you look at Capital.com for day trading because you can trade small amounts of around £10 (paper trading is great, but nothing beats putting a little skin in the game), and eToro for swings and longer-term investing because there are no overnight fees for non-leveraged trades.

Trading 212 is another decent option, but I really hate the new interface updates.

Good luck.

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[Sam Grey]

Yh IG is pretty much as good as it gets for newbies.

eToro also worth a look if you wanna copy trade tho.

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[Emanuel]

Hey, this has been really helpful so thank you for taking the time all. I’m just waiting for my documents to get approved.

Will keep you posted with how I get on.

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[Lucas]

IG is where I started about a decade ago. They have a sweet setup for newer traders and their educational stuff has come on a long way so you’ll be well served there Emanuel.

I always stuck with their own platform though as I never got on with their other options, MT4, L2 Dealer and the like

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[Jamie]

IG is a solid option if you’re new to trading. THey have the best academy I’ver ever used.

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