Beginners' FAQs
Here are some answers to our commonly asked questions, including how to deposit funds and how to get started with PureDeal.
Opening an account
I'm new to spread betting, where do I start?
The first step is to open an account. You can apply online in just a few minutes using our automated form, or download and print a PDF form if you prefer.
Do I need to send any documents to open an account with IG Index?
In the vast majority of cases you will not need to send us any supporting documents as we can verify your address details online. Occasionally we will be unable to confirm your identity online (for example if you have moved house recently), and in such cases we will contact you in order to verify your details.
Can I apply from outside the UK?
Yes, we can accept applications from most countries except:
- United States, Turkey: not permitted for legal reasons.
- Australia: we have an operation licenced in Australia and cannot accept customers directly to the UK through this site. Please visit www.igmarkets.com for CFD and FX trading.
Which type of account should I apply for?
We offer two types of accounts: Plus and Limited Risk.
What are the main features of the two accounts?
Plus Account: offers our tightest dealing spreads and the full functionality of our award-winning PureDeal platform, including DealThru Charts, Trailing Stops and one-click dealing for faster execution. Dealing spreads start from just 1 point on major forex pairs, 1 point on Daily FTSE and 2 points on Daily Wall St.
Limited Risk Account: offers absolute control over the risk you take. You will control your risk on every position by using a Guaranteed Stop-loss which will incur a wider dealing spread. You decide the amount of risk through the positioning of your Guaranteed Stop-loss. You must have sufficient cash in your account to cover the maximum possible loss before you place each bet. You can never lose any more than you are prepared to risk from the outset as all bets must have a Guaranteed Stop-loss attached.
The Plus Account gives you greater flexibility as you can use a Guaranteed Stop-loss when you wish or, if you prefer, a Non-Guaranteed Stop-loss that does not incur an extra dealing spread. New users may prefer the peace of mind which the Limited Risk Account offers whilst gaining experience before deciding to upgrade.
How can I upgrade my account type?
Limited Risk Account holders can upgrade to a Plus Account through the PureDeal platform. Go to the My Account area, select the Overview tab and click on ‘Upgrade now’. An email will be sent automatically to our Client Service team, who will notify you that the upgrade has been successful.
IG Index recognises that the Limited Risk and Plus Accounts may not suit everyone, and we can allow clients more time to pay margin calls (subject to status and proof of funds). If you are interested in discussing this option, please open a Plus Account and contact our New Accounts team on 0800 195 3100.
Deposit funds
Do I need to deposit any funds to activate my account?
You don't need to send any money to activate your account, though you will have to deposit funds before you start placing bets.
How do I fund my spread betting account?
For a complete list of the wide range of payment methods available to you, browse our Help & Support portal. However, the quickest way to send funds to your account is to register your debit card. This will enable you to make deposits online very easily whenever you wish. To register your card, enter your details via the Payments button or by visiting the My Account area within PureDeal.
How safe are my funds with IG Index?
Your funds are completely safe. When you open an account with us we will hold your money on a segregated basis, according to the Financial Service Authority's client money rules. Under these rules, we pay the full balance of our clients' money into client bank accounts. The money is treated as belonging to our clients and cannot be used by us, so the security of our clients' money is absolutely unaffected by whatever happens to us.
To discover more about IG Index and our parent company IG Group, see Client Money Protection.
Enhance your spread betting skills
How can I learn more about spread betting?
We offer a free, six-week education course to help you learn spread betting at your own pace. With TradeSense you can place bets starting at just 10 pence per point – one of the lowest bet sizes in the market. You may have registered for TradeSense when you opened your account with us. If not, call us on 0800 288 8300 and we will arrange this for you.
Can I get more information on trading strategies, charting methods etc?
Our extensive range of free online seminars, conducted by chief market strategist David Jones, covers topics such as risk management using stop orders; forex trading; trading with PureDeal; charting and trading strategies and more so you can place your first bet with confidence and continue learning from there.
Start dealing on PureDeal
Do you offer a demo platform or demo account?
While we do not provide a demo account, with our free TradeSense programme you can start trading from just 10 pence per point. TradeSense is available to all new account holders, giving you full access to the PureDeal platform and the ability to place real trades at very low bet sizes. Unlike a demo account, with TradeSense you get a sense of the full trading experience, as well as the benefit of our valuable training modules and online seminars.
Will I need to download any software before I start spread betting?
Our award-winning dealing platform, PureDeal, is completely browser-based, meaning you don't need to download any software. You can also access your account through your iPhone or other smartphone. Users of other mobile devices can download our mobile dealer, allowing you to trade all our markets on the move. Stay in touch 24-hours-a-day, from anywhere around the world!
How soon can I begin spread betting?
If you apply online, providing we are able to verify your identity and once you have deposited funds to your account, you could be up and running within minutes.
I'd like someone to deal on my behalf. Can I appoint a Power of Attorney to trade for me?
Yes. Initially, please open an account in the usual way. Once your account is open, we will send you a Power of Attorney form which will allow a nominated third party to access your account.
Further guidance
If you would like to find out more detailed information on the intricacies of how to spread bet with IG, see our Dealing Handbook, or take a look at our extensive Spread Betting Glossary.
- Related Info
- Spread Betting Seminars
Ready to spread bet?
Open an account online in minutes with no forms to print or documents to send.