Using a trading platform with DOM (Depth of Market) has plenty of benefits, especially for scalpers and day traders, Which platform offers the best DOM?

Trading platforms come with different features to maximize traders' experience in the market. For example, they may provide analytical tools or built-in economic calendars for their users. Another popular feature in the trading platforms is the Depth of Market.

 

What is Depth of Market?

Depth of Market shows the liquidity of a particular instrument that is being traded at different prices. From DOM, traders can have some idea about the supply, demand, as well as liquidity of the asset at each price point. A good market depth means there is good liquidity, while low liquidity means the market depth is low or poor. It also means that a big transaction size has a bigger potential to affect the price. In most trading platforms, DOM will be displayed as a list of buy and sell orders. The list is organized according to the price level and updated in real-time to reflect the current situation.

 

Why Does It Matter?

DOM provides information that can be useful to determine whether to place an order. It also helps traders to understand which order the market is weighted on. Usually, when the price increases, it means the market is more inclined towards buy orders and vice versa.

That being said, market depth is a very efficient way to check the activity of a certain trading instrument. From this feature, traders can find out whether the instruments have enough depth and volume to support their trading plans. This can determine their success as well as failure in the market.

 

How To Use DOM Data?

Depth of Market provides information for traders, which allows them to see where the price may be headed in the near future. Another purpose is to help traders understand the bid-ask spread of an instrument as well as the current volume. This information is useful for traders who wish to take advantage of market volatility. This is why DOM is popular among scalpers and day traders.

For example, a trader is looking to open a position in ABC. Currently, ABC is being traded at $5.00. The Depth of Market shows that there's an offer at $5.05, but there are also 50 other offers at $ 4.90. Seeing this trend, traders might determine that ABC will go higher, so it gives more insights on whether they should execute a trade or wait for better timing.

So, where can you find a trading platform with DOM? Here are the top 10 trading platforms that you can choose:

 

1. MT5

MetaTrader5 or commonly known as MT5 is a very popular trading platform as well as one of the best trading platforms with DOM. This software was developed by MetaQuotes Inc., the same company that launched MT4. MetaTrader5 was created as an upgrade from its predecessor and was aimed to provide a more sophisticated and comfortable trading experience. There are interesting features traders can enjoy from this platform, one of them being Depth of Market.

Top trading platforms with DOM (Depth of Market)

MT5 Depth of Market has a user-friendly interface, so traders can easily understand what is happening in the market. Traders can find this feature under the Market Watch menu. There are two operations provided by MT5, which is market operations and trade request. Market operations consist of buying/selling instruments at the best price. Meanwhile, trade request allows traders to create a pending order to buy or sell an asset at a specified price.

Considering the scale of MetaTrader adoption, it doesn't come as a surprise that MT5 has been widely offered in this industry. Thus, brokers like Admirals, Exness, and OctaFX are also considered as DOM providers due to their status as MT5 brokers.

Compare Admirals Exness OctaFX
General Rating 4.22/5
4.16/5
3.59/5
Trustpilot 4.6/5

rated by 1391 users
3.8/5

rated by 579 users
4.5/5

rated by 3542 users
💼 Regulation
⌛ Established 2001 2008 2011
💲 Min Deposit $1 $1 $25
⚖ Max Leverage 1:500 1:2000 1:500
🔢 Spread Variable Variable Variable
💸 Commissions $1.8 to $3 per lot for Forex & Metals $3.50
💡 Min Position 0.01 lot 0.01 lot
💳 Payment AstroPay, Crypto, Credit/debit cards, iDEAL, Neteller, PayPal, Skrill, SOFORT and Wire transfer Crypto, Credit/debit cards, Neteller, Perfect Money, Skrill, Tether (USDT), USD Coin (USDC), WebMoney and Wire transfer Crypto, Credit/debit cards, Neteller and Skrill
🏢 Office(s) AustraliaCyprusUnited KingdomEstoniaSeychellesSouth AfricaCanadaJordan KenyaCyprusUnited KingdomSeychellesbritish virgin islandsMauritiusSouth AfricaChinaEuropean areaHong KongIndiaIndonesiaRussian FederationSpainThailandTurkeyUnited Arab Emirates CyprusSt. Vincent & the Grenadines
🧩 Forex Demo Account
📁 Segregated Account
🕋 Islamic Account
👨‍💻 PAMM Account
📈 Managed Account
💱 Hedging
🇺🇸 US traders are welcome
🕛 Swaps
🏆 Trading contests
⚡ Automated trading
💹 Interest rate on funds
💰 Bonus offers
📖 Free education
📱 Mobile trading
💻 Browser-based platform
1️⃣ One-click trading
⏱ Trailing stop
⏳ Pending orders
ForexForex
cfdCFD
IndexesIndexes
Spread BettingSpread Betting
Gold & SilverGold & Silver
CryptocurrenciesCryptocurrencies
stocksStocks
oilOil
MetalsMetals
EnergiesEnergies
FuturesFutures
etfETF
OptionsOptions
AgricultureAgriculture
BondsBonds
Binary OptionsBinary Options
IndicesIndices
CommoditiesCommodities
SharesShares
Physical StockPhysical Stock
Stock CFDStock CFD
🗣 Website Languages Arabic, Bulgarian, Croatian, Czech, English, Estonian, German, Hungarian, Italian, Latvian/Lettish, Malay, Polish, Portuguese, Romanian, Russian, Serbian, Slovenian, Spanish, Swedish, Turkish, Vietnam Arabic, Bengali/Bangla, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Urdu, Vietnamese Bengali/Bangla, Chinese, English, German, Hindi, Indonesian, Malay, Portuguese, Spanish, Thai
🚪 Open Account Open Admirals Open Exness Open OctaFX


 

2. cTrader

Another popular trading platform with DOM is cTrader, a technology developed by Spotware System. This trading platform is mostly known for its no-dealing-desk feature, rich charting tools, advanced order types, as well as level II pricing. Copy traders can benefit from this platform because cTrader allows users to search strategies directly on the platform.

cTrader Depth of Market

cTrader Depth of Market allows real-time tracking of a certain instrument and placing orders using particular settings. There are three types of DOM in cTrader, the first one being the standard DOM, which is a type of viewing of the current market depth that doesn't allow trading. The second type is Price DOM; it allows traders to enter the market with stop and limit orders, as well as manage open positions. The last type is VWAP DOM which is very useful since it shows the volume weight of each price. 

Because of its functionality, cTraders started gaining as much popularity as MetaTrader. Nowadays, there are plenty of brokers providing cTrader as an alternative to MetaTrader. Some of them are Pepperstone, IC Markets, and Roboforex.

Compare Pepperstone IC Markets RoboForex
General Rating 4.43/5
4.23/5
3.65/5
Trustpilot 4.7/5

rated by 1748 users
4.9/5

rated by 24082 users
2.8/5

rated by 234 users
💼 Regulation
⌛ Established 2010 2007 2009
💲 Min Deposit $200 $200 $10
⚖ Max Leverage 1:30 1:500 1:2000
🔢 Spread Variable Variable Variable
💸 Commissions $7 $3.50 $2
💡 Min Position 0.01 lot 0.01 lot 0.01 lot
💳 Payment Credit/debit cards, PayPal, UnionPay and Wire transfer Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer AdvCash, AstroPay, Boleto Bancário, Credit/debit cards, Local bank transfer, Neteller, Perfect Money, Skrill, UnionPay and Western Union
🏢 Office(s) AustraliaGermanyKenyaCyprusUnited Arab EmiratesUnited KingdomBahamas AustraliaCyprusBahamasChinaEuropean areaHong KongIndiaIndonesiaRussian FederationSpainThailandTurkeyUnited Arab EmiratesUnited Kingdom BelizeChinaEuropean areaHong KongIndiaIndonesiaRussian FederationSpainThailandTurkeyUnited Arab EmiratesUnited Kingdom
🧩 Forex Demo Account
📁 Segregated Account
🕋 Islamic Account
👨‍💻 PAMM Account
📈 Managed Account
💱 Hedging
🇺🇸 US traders are welcome
🕛 Swaps
🏆 Trading contests
⚡ Automated trading
💹 Interest rate on funds
💰 Bonus offers
📖 Free education
📱 Mobile trading
💻 Browser-based platform
1️⃣ One-click trading
⏱ Trailing stop
⏳ Pending orders
ForexForex
cfdCFD
IndexesIndexes
Spread BettingSpread Betting
Gold & SilverGold & Silver
CryptocurrenciesCryptocurrencies
stocksStocks
oilOil
MetalsMetals
EnergiesEnergies
FuturesFutures
etfETF
OptionsOptions
AgricultureAgriculture
BondsBonds
Binary OptionsBinary Options
IndicesIndices
CommoditiesCommodities
SharesShares
Physical StockPhysical Stock
Stock CFDStock CFD
🗣 Website Languages Chinese, English, Russian Arabic, Chinese, English, German, Indonesian, Japanese, Korean, Malay, Portuguese, Russian, Spanish Arabic, Chinese, Croatian, Czech, English, Estonian, German, Hungarian, Indonesian, Italian, Latvian/Lettish, Malay, Polish, Portuguese, Russian, Spanish, Thai, Ukrainian, Vietnamese
🚪 Open Account Open Pepperstone Open IC Markets Open RoboForex


 

3. ThinkTrader

ThinkTrader is a proprietary platform issued by ThinkMarkets, a multi-asset brokerage established in 2010. The trading platform was launched with multiple benefits and the DOM feature is just one of them. Besides Depth of Market, this platform provides traders with over 80 indicators, 50 drawing tools & and plenty of charts type to analyze the market. Clients can spot trading opportunities on several timelines through a built-in feature called TrendRisk scanner. This platform support trading on the go as well, as indicated by its availability through mobile and tablet devices.

ThinkMarkets Specifications

Leverage
1:30
💼 Regulation
💲 Min Deposit
$0
Year Established
2010

Free education
Personal manager
PAMM accounts
MAM accounts
Segregated accounts
Affiliate program
Islamic accounts available
Neteller
PayPal
Skrill
Wire transfer

As a multi-asset online brokerage, ThinkMarkets present a wide range of trading assets starting from Forex to Precious Metals, Commodities, Indices, Shares, and Cryptocurrencies. The Australian-based broker is established in 2010 and has since opened additional headquarters in London and regional offices throughout Asia-Pacific, Middle East, North Africa, Europe, and South America.

Along with its history operation, ThinkMarkets has been awarded and recognized many times in various aspects. Most recently, they won the Best Value Broker in Asia at the 2020 Global Forex Awards.

Average FX spreads for traders opening an account in ThinkMarkets start from 1.2 pips for the standard account, while ThinkZero provides the best trading experience with 0.1 pips spread. Still, traders may need to consider that ThinkZero applies commission from $3.5 per side for every 1000,000 trading volumes.

As a global online brokerage, ThinkMarkets operates under various financial regulatory institutions. For example, ThinkMarkets Australia is managed by TF Global Markets (Aust) Limited and is licensed by the Australian Financial Services as well as the Australian Securities and Investment Commission (ASIC) with ABN: 69158361561. ThinkMarkets UK is registered under the Financial Conduct Authority (FCA) by the company name of TF Global Markets (UK) Limited (number: 09042646).

ThinkMarkets consistently try to improve their trading environments with various advanced products. Automatic trading fans are provided with free VPS Hosting, while passionate traders who'd like to experience beyond MetaQuote platforms can try ThinkMarkets' proprietary platform called ThinkTrader.

The trading platform is available on 3 different interfaces specifically designed for Web Desktop, Tablet, and Mobile displays. Furthermore, customized tools such as 80+ drawing tools and more than 125 indicators for technical analysis accessible even through Mobile screens would certainly provide a brand new trading on-the-go experience.

As far as market updates go, trading in ThinkMarkets would be accompanied with news from FX Wire Pro that is known for its strict policy toward upholding objective journalism and delivering critical, trusted information in real-time. Information segments covered by FX Wire Pro include Economic Commentary, Technical-level Reports, Currency and Commodities, Central Bank Bulletins, Energies and metals, together with Event-driven Flashes.

For payment methods, ThinkMarkets offer the gateway via bank transfer, credit card (Visa and MasterCard), Skrill, Neteller, POLi internet banking, BPay, and Bitcoin wallet.

All in all, it is safe to say that for a company that started business since 2010, ThinkMarkets is an accomplished broker in terms of legal standing and innovation in trading technology. As an additional safety assurance for traders, this broker underlines its commitment to provide a $1 million insurance protection program which is made possible by ThinkMarkets' insurance policy with Lloyd's of London that protects clients' funds for up to $1 million in the unlikely event of insolvency.

 

4. Trading Station

An exclusive platform that is closely associated with FXCM, Trading Station provides market depth functionality for Active Traders. There are multiple levels of liquidity visible on each price; perfect for short-term traders. Apart from that, there are also plenty of unique features such as cloud to store user profile and chart settings, trading analytics, calendar, and many more. The platform provider, FXCM, has been around for 20 years, so their experience is not to be underestimated. 

FXCM Specifications

🌐 Website
www.fxcm.com
Leverage
1:400
💼 Regulation
💲 Min Deposit
$1
Year Established
1999

Interest rate on funds
Free education
Trading by telephone
PAMM accounts
LAMM accounts
Segregated accounts
Managed accounts
Requires sending documents via postal mail
Neteller
Skrill
Wire transfer

FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).

Trading with FXCM is supported by enhanced execution with the Liquidity providers' stream pricing through the FastMatch Electronic Communication Network.

FXCM works with several global banks, financial institutions, and other market makers as their Liquidity providers including Barclays Bank, Citadel Securities, Citibank, Deutsche Bank, FASTMATCH, XTX Markets Limited, UBS, Morgan Stanley, Commerzbank, and Jefferies Financial Services.

This, in turn, enables FXCM to present its clients with fast trade execution, competitive spreads, low negative slippage, no re-quotes, no stop/limit restrictions, and up to 89% of orders are executed at the requested price or better.

For the trading platform, FXCM is remarkably known for its proprietary product called Trading Station. The latest version of this platform's web display is claimed to be built in Mac Friendly HTML5. It features a range of trading appliances such as integrated news, economic calendar, FXCM's top trading tools, social trading functionalities through FXCM Cloud, customized trading analytics, automated strategies, and advanced charting for better analysis. For flexible traders who prefer trading on-the-go, FXCM has also provided Trading Station in mobile version, both for iOS and Android users.

However, the company's in-house platform is not the only option presented for clients. FXCM also gives the choice to use MetaTrader 4 for clients who are more familiar with MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcend across brokers.

Instead of classifying account types based on minimum deposits, FXCM chooses to offer trading accounts based on the instruments traded. For FX traders, this broker provides Active Trader and Institutional accounts.

Active Trader is the ultimate account type for retail traders with two-tier pricing. Tier 1 applies a minimum deposit of $25,000 with a $30 commission for 1 million volumes traded, while Tier 2 has no detail on deposit requirement but gives better fee conditions. Spreads in both tiers start from 0.2 pips.

Institutional account, also known as FXCM Pro, is marketed as a wholesale execution and liquidity solution for retail brokers, hedge funds, and emerging market banks. The account presents trading spreads from 0.1 pips and other competitive benefits like API solutions as well as prime brokerage services.

For non-FX traders, FXCM provides a CFD trading account with low spread costs from 0.37 pips (in XAU/USD) and a wide range of class assets from precious metals, soft commodities, and indices.

Last but not least, a collection of in-depth articles is provided to help traders' knowledge and insights on the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM .

In conclusion, FXCM is an experienced retail broker with a lot of "ammunition" to help traders with its best version of execution, pricing, and tools. It is a well-regulated broker backed with a long history in the financial market, even though it has a dark history in the United States' brokerage industry.

Still, the relatively high standard on minimum deposit ($25,000) puts FXCM as a broker suitable for experienced traders with good money management. It is not recommended for new traders with limited capital.

 

5. OANDA

OANDA's trading platform is known to offer tight spread across different kinds of CFD instruments. Additionally, traders can access the Depth of Market on webtraders. The feature allows traders to take advantage of spreads starting from just 0.6 pips for typical EUR/USD order sizes. For technical analysis purposes, OANDA provides AutoChartist signals so traders can get more insights on the developing chart patterns that may lead to key trading opportunities.

OANDA Specifications

🌐 Website
www.oanda.com
Leverage
1:20
💼 Regulation
💲 Min Deposit
$0
Year Established
1996

Islamic Account
US traders are welcome

Traders looking for brokers with accurate precision, OANDA can be an option. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.

It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.

Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.

OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.

OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA. However, these advantages make trading rules at OANDA more stringent compared to other brokers.

For example, OANDA only allows maximum leverage of 1:20, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.

Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.

Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.

The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.

As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.

With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.

Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.

There is no minimum deposit or minimum balance required to open an OANDA account. Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.

OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.

The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.

With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.

In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.

 

6. IB Trader

Interactive Brokers was founded by Thomas Peterffy and has been around for 43 years. Right now, they claim to have more than one million client accounts. Interactive Broker offers different kinds of trading platforms, among all of them, IB Trader stands out the most. This trading platform features DOM and other advanced features. For example, traders can customize the workspace to fit their style and method. They're also granted access to real-time market analysis as well as reputable news services from Reuters and many more.

Interactive Brokers Specifications

Leverage
1:100
💼 Regulation
💲 Min Deposit
$10000
Year Established
1977

Free education
Segregated accounts
Managed accounts
Wire transfer

Interactive Brokers is a direct market access broker that provides execution, clearance, settlement, and prime brokerage for customers. Since it was found 41 years ago by Thomas Peterffy, the company has grown internally to become one of the premier securities firms with over $7 billion in equity capital.

First acknowledged as a popular broker for advanced traders, Interactive Brokers launched a second tier of service called IBKR Lite for more casual investors in 2019.

The IBKR Lite provides services on over 125 market destinations worldwide and gives direct access (online) trade execution and clearing services, both to institutional and professional traders for a wide variety of traded products including stocks, options, futures, forex, fixed income, and funds worldwide. Interactive Brokers Group and its affiliates execute over 859,000 trades per day.

Headquartered in Greenwich, Connecticut, Interactive Brokers has over 1,400 employees in the USA, Switzerland, Canada, Hong Kong, UK, Australia, Hungary, Russia, Japan, India, China, and Estonia companies. IBKR is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Financial Conduct Authority (FCA), and is registered in the New York Stoch Exchange (NYSE).

Interactive Brokers offers a wide range of product-centered tools like the OptionTrader and Probability Lab for simplified single and complex multi-leg option trading; FXTrader for forex trading, Mutual Fund/ETF Replicator for helping traders find a lower cost on ETF alternatives, also fixed-income screeners for corporate and agency bonds. Overall, trading with Interactive Brokers would be provided with the most useful and updated tools to maximize trading and investing goals.

As a popular and regulated broker in the US, Interactive Brokers has won some awards. Recently, they were awarded by the Barrons as the 2019 Best Online Broker, which is categorized as the best broker for mobile, international, and frequent traders. Besides, they also won an award as Top Performing Broker by the Preqin Service Providers, and Best Overall Broker by Investopedia (Best for Low Costs, Best for International Trading, Best for Options Trading, Best for Day Trading, and Best for Penny Stocks). The awards are not only achieved during 2019. Since 2005, Interactive Brokers has won lots of awards regarding its best services for clients.

To optimize clients' trading speed and efficiency, Interactive Brokers provides some powerful suites of trading platforms. Below is the list:

  • Client Portal
    A one-stop destination to check quotes and place trades, see account balances, Profit and Loss, as well as key performance metrics, funding, and reporting.
  • Desktop TWS
    A flagship platform designed for active traders and investors who trade multiple products and require power and flexibility. Opening an account in Interactive Brokers and using this platform allows traders to utilize the most advanced algorithms and trading tools, as well as a library of tools and asset-based trading layouts for optimum customization.
  • IBKR TWS for Mobile
    The IBKR TWS for Mobile is made for traders who want to easily trade and monitor their IBKR account on-the-go from either iOS or Android device (tablet or smartphone).
  • IBoT
    IBoT is a robot for finding information and placing orders using clients' own words. IBot is available on TWS for Desktop, IBKR Mobile, and Client Portal.
  • IBKR WebTrader
    IBKR WebTrader is made for traders and investors who prefer a simplified interface.
  • IBKR APIs or IBKR Pro
    This trading platform is provided especially for traders and investors who want to write their trading software or automated trading programs; third-party software users.

Overall, Interactive Brokers has always been a great choice for those who want to find out a credible and regulated broker for trading. Offering lots of trading platforms, Interactive Brokers has committed to provide their best services for both novices and professionals, since it is suited to every clients' needs.

 

7. L2 Dealer

Presented by IG, L2 Dealer is one of the most reputable platforms with access to Depth of Market. The platform was created to give clients more control over their CFDs assets, which is perfect for those who wish to participate directly in the market. They offer market depth from a range of exchanges. There is also a wide range of order types available for clients, so experienced traders can try out their strategies with as many scenarios as possible.

IG Specifications

🌐 Website
www.ig.com
Leverage
1:50
💼 Regulation
💲 Min Deposit
$1
Year Established
1974

Free education
US traders are welcome
Wire transfer

IG Markets is an online trading provider with decades of experience in the financial market. Founded in 1974, the world-leading company has gathered more than 178,000 clients worldwide with over 16,000 markets reached as of 2019. IG Markets is authorized and regulated by the Australian Securities and Investment Commission (ASIC). It is also important to note that being established in 1974 makes IG Markets one of the forefront online CFD brokers. Their service has expanded to 15 countries across five continents.

Aside from famous for its reliable experience, IG Markets is also known for its truly broad range of trading instruments. In fact, the broker has long been regarded as one of the most accomplished companies in offering the most trading assets to clients. The wide choice of instruments includes forex pairs, 26 indices, over 12,000 shares, hard and soft commodities, cryptocurrencies, as well as other markets such as bonds, rates, and options.

Forex trading in IG Markets is provided in two ways: CFD and DMA (Direct). Here are the conditions for each type of trading:

Forex CFD

  • Minimum spread: 0.6 pips
  • Commission: None
  • Platforms: Web, mobile apps, MT4, ProRealTime, L2 Dealer, terminals and APIs
  • Trading size: Contracts
  • Demo account: Yes

Forex DMA

  • Minimum spread: No details
  • Commission: from $10 per $1 million traded
  • Platforms: Web, mobiles apps, L2 Dealer, terminals, and APIs
  • Trading size: Lots
  • Demo account: No

Both ways of trading are available for all clients. However, DMA does not enable trading in MetaTrader 4. Clients are also not allowed to trade in a demo account for virtual trading. It is essentially a type of trading reserved for experienced traders with high necessity for the best pricing in the market, as DMA offers market depth from a range of exchanges (including full market depth from the LSE).

Trading platforms in IG Markets are accessible via web, mobile app, and desktop. They are offered with 2 main varieties: Core Platforms and Specialist Platforms. The core platform is meant for all types of trading with the add-ons of DMA, ProRealTime access, and Forex Direct. Meanwhile, Specialist Platforms consist of L2 Dealer, ProRealTime, and MetaTrader 4.

The first two platforms charge fees that include minimum $2000 balance and monthly fees for shares data and level 2 prices (for L2 Dealer), as well as platform fees amounting to $40 per month and monthly fee for shares data (for ProRealTime).

IG Markets does not require a minimum balance to open an account. It also provides a swap-free account that frees clients for any interest, rollover, or swap charges on overnight positions. Yet, All costs and charges are built into the spread. This account suits well with long-term traders who need to keep their positions open for days or even weeks.

For beginners, IG Markets builds an IG Academy that gives interactive education and online trading courses. This way, clients can get a grip on the financial markets with the essentials of trading provided in infographics, video explainers, and end-of-course quizzes. Even better, the IG Academy is already integrated into its mobile app so clients can always learn about financial markets in much more efficient ways.

In conclusion, IG Markets is a client-friendly broker with more than 40 years of experience to back up its credibility. Their efforts and commitments to provide the best varieties of trading platforms are proven in the unique Core and Specialist Platforms.

Traders with little experience can apply to Forex CFD account in either Core Platforms or MetaTrader 4, while professionals can achieve the best experience in the financial market with IG Market's DMA trading and L2 Dealer or ProRealTime platforms.

A trading platform with DOM can be very useful for traders, especially scalpers and day traders. Depth of Market provides information regarding the liquidity of a certain trading instrument. This data help traders to time their trades in line with the current liquidity. If you're interested to use this data for your trading, consider trading with MT5 or cTrader brokers. Other than that, proprietary platforms like ThinkTrader and Trading Station may be suitable too.

 

A trading platform is an important aspect of trading. However, some platforms can be too complex for new traders. Which trading platform is perfect to start your forex trading with?