Best US FOREX Broker 2023 - Pros and Cons of IG Group as a Forex Broker

In this video I give my personal review on IG Group as a forex broker for US forex traders. I explain all the pros and cons of using IG.

0:00 - Intro
0:39 - The Broker I Use
1:02 - The PROS of IG Markets
3:27 - The CONS of IG Markets
6:03 - Conclusion

PROS
- Been open since 1974
- regulated (meaning your money is safer)
- No commission fees charged
- They have phone customer support
- Its a publicly traded company
- Good low spreads on certain pairs
- Mt4 and Mt5 compatible, which allows the use of EA’s

CONS
- Only 50:1 max leverage for US customers (example $20K needed to open one 10 lot trade) vs a 500:1 leverage broker you would only need $2k to open one 10 lot trade.
- No hedging meaning you cannot open a buy trade and a sell trade on the same pair at any time.
- You always have to close the first position opened first
- You cannot set different Take Profit or Stop Loss levels on each leverage trade. (Example if you have 3 GBP/USD trades open you have to use the same TP and SL levels for all three. This really sucks for swing traders.

My personal opinion is that IG is a great and safe broker and I use them because my EA’s trading system works well with it and because I feel that my funds are safer, but for my personal manual swing trading I have to use another broker.

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Disclaimer#1: I’m not a financial advisor. You should always do your own research and make your own financial decisions. This video is for entertainment purposes only.

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