This IG South Africa review assesses the broker’s regulatory setup, trading conditions, platform suite, and protections for local retail traders. IG Markets South Africa Ltd is part of the IG Group, offering access to a wide range of CFD markets with FSCA oversight and a globally trusted infrastructure.

Regulation and Safety

IG South Africa is authorised by the Financial Sector Conduct Authority (FSCA):

• FSCA (South Africa): FSP License No. 41393

The broker adheres to FSCA regulations including client fund segregation and reporting standards. As a subsidiary of IG Group, IG South Africa benefits from global compliance practices but does not fall under FSCS or EU compensation schemes.

Execution Model and Trading Platforms

IG South Africa operates a hybrid Market Maker and Direct Market Access model:

• Execution: Market Maker (CFDs), DMA for forex and equities
• Platforms: IG proprietary web-based platform, MetaTrader 4, ProRealTime, L2 Dealer
• Access: Desktop, mobile, tablet, web
• FIX API: Available to institutional clients
• VPS: Offered through IG for MT4 traders

Markets and Instruments

IG South Africa provides access to over 17,000 instruments:

• Forex: 80+ currency pairs with DMA access
• Indices: Local (JSE) and global indices including DAX, Dow, FTSE
• Commodities: Precious metals, energies, agricultural
• Shares: JSE-listed and global stock CFDs
• Cryptocurrencies: BTC, ETH, LTC, XRP (CFDs; subject to local regulation)
• ETFs and Bonds: Available via CFDs

Accounts, Spreads and Leverage

IG South Africa offers retail and professional account structures:

• Minimum deposit: R4,000 (approx. $250)
• Spreads: From 0.6 pips on majors
• Commission: Zero on most CFD assets; commission applies for DMA
• Leverage: Up to 1:200 for professionals, 1:30 for retail clients
• Stop-out level: 50%

Funding and Base Currencies

South African clients can fund accounts in ZAR and international currencies:

• Methods: EFT (local bank transfer), credit/debit cards, PayPal
• Base currencies: ZAR, USD, GBP, EUR, AUD
• Processing: Instant for card payments, 1–2 days for local bank transfers

Client Protections and Features

• Client funds held in segregated trust accounts
• 2FA and secure client login
• Negative balance protection for retail clients
• Local customer support in South Africa
• No local investor compensation scheme (FSCA does not provide it)

Institutional and Retail Offering

• Retail: CFDs, spread betting (UK only), MT4, DMA forex
• Institutional: White-label services, FIX API access, liquidity solutions
• Professional: Enhanced leverage, advanced tools, lower margin requirements

Pros and Cons

Pros

• FSCA-regulated with local presence
• Access to IG’s full product range
• DMA forex and equities trading
• Advanced platforms including ProRealTime
• Supports ZAR funding and local transfers

Cons

• No compensation scheme for SA clients
• Minimum deposit is higher than some competitors
• Crypto availability subject to local restrictions

Frequently Asked Questions

Is IG South Africa regulated?

Yes, IG Markets South Africa Ltd is regulated by the FSCA under license number 41393.

Can I fund my IG account in ZAR?

Yes, IG South Africa supports local funding in ZAR via EFT and credit/debit cards.

Does IG South Africa offer crypto trading?

Yes, CFDs on cryptocurrencies like BTC and ETH are available, subject to FSCA restrictions.

What platforms can I use with IG South Africa?

Clients can trade using IG’s web-based platform, MetaTrader 4, and ProRealTime.

Is there negative balance protection?

Yes, negative balance protection is provided to retail clients under FSCA regulation.