Overview
IG has been in business since 1974 and is one of the largest CFD providers worldwide. Clients in Germany are served by IG Europe GmbH, based in Frankfurt. IG offers over 17,000 markets, its own web platform and app, ProRealTime, TradingView, L2 Dealer, and an API. For EA traders, though, the MT4 offering is what matters, and it is noticeably narrower than the main product. This review therefore focuses on how well IG suits automated strategies. Knock-outs and options play no role here.
Regulation & Safety
On regulation, IG is in the top league. IG Europe GmbH (HRB 115624, register number 148759) is authorised and regulated by BaFin and the Deutsche Bundesbank. German clients therefore trade with an institution under German supervision, which is not a given among CFD brokers. The group is additionally regulated by the FCA, ASIC, FINMA, MAS, Japan's JFSA, the US CFTC/NFA, and the FSCA, FMA, and DFSA. Under our rubric ("three+ top-tier regulators incl. EU/UK") that gives 4.8, the top of the band, because the entity responsible for DACH clients is itself BaFin-supervised.
Costs
This is the weak spot for EA traders. IG charges no commission on forex CFDs; costs are entirely in the spread. On MT4, EUR/USD starts at 0.6 pips, GBP/USD at 0.9, and USD/JPY at 0.7. IG's published average spreads for EUR/USD are 0.85 pips (00:00–21:00) and 1.04 pips across the full trading day. These figures come from a measurement period ending January 2021, so they are dated. There is no raw-spread account with commission. In practice, costs are therefore closer to roughly 8.5–10 USD per round-turn lot than the 6–7 USD of good ECN accounts. Under our rubric ("only commission-free accounts with ≥ 1.0 pip") we award 3.8. We found no inactivity fee on the German site: after 24 months without activity the account is closed and the balance remains available.
Execution
IG operates as a market maker: according to its execution-venue documentation, IG itself acts as the venue and counterparty for over-the-counter CFDs. For the MT4 platform, IG cites availability above 99% (99.74% in the six months to December 2023). We found no independent latency or slippage measurements for MT4. The VPS is hosted by Beeks in London; IG does not name an Equinix location for its trade servers. Our rubric caps market makers at 3.7, and that is the score we award. Whether the group's size reduces counterparty risk in practice is something the rubric deliberately does not reflect.
EA & Algo Suitability
IG offers more routes to automated trading than most brokers. But there is only one MetaTrader terminal: MT4, with 18 additional add-ons and indicators. MT5 is not offered, nor is cTrader. On top of that come ProRealTime with automated trading (free with four or more trades per month, otherwise 30 EUR) and a REST and streaming API for connecting your own programs directly to your IG account. The MT4 VPS at Beeks in London (25 GB storage, 1,300 MB RAM) is free from a 6,000 EUR account balance; below that it costs 50 EUR per month. IG publishes no explicit scalping or hedging rules for MT4. Under our rubric ("allowed, but only one MT platform") IG would top out at 4.2. The API and ProRealTime lift the score within the band, while the missing MT5 option holds it back: 4.1. If you are weighing the two terminals, MT4 vs. MT5 for algo trading explains the differences.
Conditions, Deposits & Support
There is no minimum for bank-wire deposits. Retail clients trade under ESMA rules with a maximum of 1:30 (3.33% margin on major FX). The overall range covers more than 17,000 markets, but MT4 only offers forex, indices, oil, major metals, and crypto. IG does not publicly list account currencies other than EUR. That gives 4.1.
Deposits are made by bank wire (three to five business days), Visa/Mastercard, or PayPal (both instant). IG passes on third-party fees for credit card payments. Withdrawals to card or PayPal require at least 150 EUR unless the available balance is lower. German-language support is available Monday to Friday from 8:30 to 20:00, and an English-speaking team around the clock. That gives 4.3.
Verdict
IG is not a classic EA broker, but a very safe one. If BaFin supervision, a group with more than 50 years of history, and your own algo solutions via API or ProRealTime matter to you, IG is a good fit. For cost-sensitive MT4/MT5 EAs, however, a lot speaks against it: no MT5, no raw-spread account, market-maker execution, and a VPS only from 6,000 EUR. The weighted overall score is 4.1. If low costs and MT5 are your priority, compare the ECN brokers for EAs. For an overview of brokers with a free VPS, see brokers with free VPS.