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Contract reading

What IG legally published, but does not want you to read

Every clause below is published by IG itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: IG International Limited

sole discretionclient moneydeemed acceptancehidden feelanguage gapoutdated translationaccount securityaccount suspensionassignmentburden of proof

IG International, the Bermuda company behind ig.com/en, publishes a clear 22-page contract that is mostly standard. Two clauses matter most. IG can void your winning trades on suspicion and still enforce your losing ones, and you get two business days to dispute a statement. IG's own pages also disagree on costs, quoting a 1.0% conversion fee in English and 0.8% in Chinese and Spanish.

Back to IG

Contract risk

Harder than average
4.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
2
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
16
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
17
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 16 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical2
Warning8
Notice6

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

1 of these 4 figures comes from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2 working daysTime to complain. Jump to the clause this comes from.Two business days to dispute a statement, then deemed agreed1%In the contract. Jump to the clause this comes from.Conversion fee: 1.0% in English, 0.8% in Chinese and Spanish2.3%Fee you were not shown. Jump to the clause this comes from.Two IG pages give different credit card deposit fees10 working daysAccount limit. Jump to the clause this comes from.Silence for 10 business days accepts any contract change

What the documents say

16 clauses worth knowing about, worst first, each quoted from IG's own files

01

If IG suspects you broke one of its trading rules, it can cancel your profitable trades and still hold you to the losing ones. It does not have to tell you why (Term 21(3)).

Why this matters

The rules cover insider dealing and pricing tricks, and also unapproved trading software and any wrong detail in your application. IG acts on suspicion, and without proof that satisfies IG within three months, your profits are void for good.

Exhibit 1CriticalHarder than usual

In the event that (a) you open or close any Transaction or place an Order in breach of the representations and warranties given in Terms 9(1), 9(18), 20(1) or 21(2), or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time, if applicable, and also, at our absolute discretion:
Clause 21(3) in Margin Trading Customer Agreement, p.14
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
IG acts on a suspicionIG can close your trades, void the profitable ones and enforce the losing ones, without giving a reason.21(3)
Until you satisfy IGThe profitable trades stay void unless you produce evidence that satisfies IG.21(3)(b)
Three months after IG actsWithout that evidence, the profitable trades are cancelled for good.21(3)(b)
  • Worse together with Exhibit 8A broken warranty is also a default under Term 17(1)(f), so IG can close every trade and hold your funds while you try to clear yourself.
02

You have two business days to object in writing to any trade statement, or IG treats you as agreeing with it (Term 14(7)). The clock starts the moment IG posts the statement on its platform, and the days follow UK holidays, not yours.

Why this matters

Miss the window and any later dispute about prices, sizes or fees starts from a statement you have already accepted. If a statement never arrives, IG will not consider your query unless you report it missing within two business days of when it was due.

Exhibit 2CriticalHarder than usual2 working days

You will be deemed to have acknowledged and agreed with the content of any Statement and the details of each Transaction set out in any Statement that we make available to you unless you notify us to the contrary in writing within two business days of the date on which you are deemed to have received it in accordance with Term 14(10) below.
Clause 14(7) in Margin Trading Customer Agreement, p.9
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Statement postedIG treats you as having received it the moment it appears on the platform.14(10)(f)
Two business days laterIG treats you as agreeing with every trade on it unless you objected in writing.14(7)
  • Worse together with Exhibit 12Spanish speakers promised service in Spanish still get two business days to object, in writing, under a contract that says IG communicates in English.
03

IG's English charges page puts its currency conversion fee at 1.0%, while its Chinese and Spanish pages say 0.8% for the same account. IG converts your profits, charges and deposits in other currencies automatically unless you agree otherwise (Term 16(3)).

Why this matters

IG's Chinese pages say English is the binding language of its contracts, and the English page says 1.0%. On every $1,000 IG converts for you, that is $10 rather than $8.

Exhibit 3Warning1%

1.0% fee applies for CFD trades in a currency different from your account’s base currency
Quoted in CFD trading costs and charges
Downloaded from the broker's site on Open the reference
Our own capture of ig.com, taken on Oct 22, 2026The claim, on Currency conversion fee row on IG International's Traditional Chinese charges pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ig.com, taken on Oct 22, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

What it costsConverting $10,000 of profit into your account currency costs $100 at 1.0% and $80 at 0.8%.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give retail clients clear information on costs and charges before they trade. IG International publishes two different figures for the same conversion charge, depending on the language you read.

IG is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

04

IG's marketing says it hedges, meaning it trades in the real market to cover its risk, only when clients as a whole lean one way. Its contract lets it hedge before your own order arrives, even if that moves your price, and keep any profit (Term 3(2)(b)).

Why this matters

IG is the other side of your trades, and its prices trigger your stop orders even where the real market never traded there. Its spread charge, the markup it adds to the gap between buy and sell prices, has no upper limit (Term 4(3)).

Exhibit 4WarningHarder than usual

we may execute hedging transactions prior to (i.e. in anticipation of) or following receipt from you of a request, or information concerning a contemplated request, to open or close a Transaction in order to manage our risk in relation to Transaction(s) you are entering into or contemplating, all of which may impact on the price you pay or receive in relation to such Transaction(s) and any profits generated by such hedging may be retained by us or an Associated Company without reference to you;
Clause 3(2)(b) in Margin Trading Customer Agreement, p.3
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must identify and manage conflicts of interest and act in their clients' best interests. This contract discloses that IG may hedge in anticipation of your order and keep any profit from doing so.

IG is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

05

IG's client money page says neither IG nor its creditors can hold your money or take it to pay a debt. The trust does protect you from IG's creditors, but the contract gives IG itself both rights (Terms 16(7), 16(9)).

Why this matters

IG can take a debt on your account with another IG company, or a joint account's loss, from the balance you hold here. It can also keep your assets until you pay every such debt.

Exhibit 5Warning

(b) any Losses in respect of any account held by you with an Associated Company against any Sums held by us or an Associated Company, under this Agreement or otherwise, for or to your credit;
Clause 16(7)(b) in Margin Trading Customer Agreement, p.11
Read from the broker's site on Archived copyOpen the reference
Our own capture of ig.com, taken on Oct 22, 2026The claim, on 'What happens to the money I deposit with IG?' section of IG International's client money pageVisit this page on the broker's siteDownload the full size image file

What IG tells you depends on which page, and which language, you read

IG International's currency conversion fee is 1.0% on its English charges page and 0.8% on its Chinese and Spanish pages. Its client money page says IG cannot hold your money or take it for a debt, yet the contract gives IG both rights. Its Spanish site still links a 2023 contract promising Spanish service, while the current one says English.

Pages that disagree1 clause flagged

IG's Spanish site links to a Spanish contract from August 2023 that promises to deal with you mainly in Spanish. The current English contract, dated October 2026, says IG will communicate with you in English and replaces every earlier agreement.

In plain words

Supersedes means beats: where two documents disagree, that one wins.

Why this matters

The current contract's deadlines, such as two business days to dispute a statement, apply to notices IG sends in English. IG's Chinese pages warn that English is the binding language; its Spanish pages do not.

Exhibit 12Warning

Le proporcionamos este Contrato en español, que será el idioma en el que principalmente nos comunicaremos con Usted durante la duración del mismo, aunque en ocasiones utilizaremos el inglés.
Clause 1(9) in Contrato con el Cliente para Operaciones con Margen, p.2
Downloaded from the broker's site on Open the reference

Three different prices for a credit card deposit

IG International quotes a credit card deposit at 2.3% on one page and at 1% or 0.5% on another. Its contract also lets IG add a reasonable processing charge and sets no amount for it (Term 16(2)(b)).

Cost disclosure1 clause flagged

IG's funding page says a credit card deposit costs you 1% on Visa and 0.5% on MasterCard. Its charges page lists 2.3% of the amount for card payments, and the contract lets IG add its own processing charge (Term 16(2)(b)).

Why this matters

You cannot tell from IG's own pages what a card deposit will cost you. The contract sets no amount for IG's processing charge, only that it will generally reflect IG's cost.

Exhibit 6Warning2.3%

Cost: 1% charge for Visa and 0.5% charge for MasterCard.
Quoted in How to fund your account
Read from the broker's site on Open the reference
Our own capture of ig.com, taken on Oct 22, 2026The claim, on Credit card entry on IG International's 'How to fund your account' pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ig.com, taken on Oct 22, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

What it costsOn a $1,000 credit card deposit, 0.5% is $5, 1% is $10 and 2.3% is $23.

No contractual payout deadline, and IG picks the method

One to three working days is what IG's help page says a bank payout takes, but IG International's contract sets no deadline (Term 16(5)). IG chooses the method, holds back what your open trades need, and can refuse if it believes paying breaches any rule or term (Term 10(2)). Otherwise the contract promises no restrictions on withdrawing available money (Term 28(3)).

Exit conditions1 clause flagged

The contract sets no deadline for paying out your money, and IG chooses how to send it at its absolute discretion (Term 16(5)). The one to three working days on IG's help page are guidance, not a contractual promise.

Why this matters

IG can hold back the margin your open trades need, the deposit that keeps them open, and anything you owe it. It can refuse altogether if it reasonably believes paying would breach any rule or contract term (Term 10(2)).

Exhibit 7WarningStandard wording

We will be under no obligation to remit any money to you if that would reduce your account balance (taking into account running profits and losses) to less than the Margin payments required on your open Transactions.
Clause 16(5) in Margin Trading Customer Agreement, p.11
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 5Every payout comes after the set-off and lien that IG's client money page says it does not have.

IG can suspend your account at any time and rewrite the terms by notice

Ten business days of silence makes an IG International contract change binding on you, and objecting means closing your account (Term 28(1)). IG can also suspend any account at any time without giving a reason (Term 27(1)). It can declare a default whenever it reasonably believes that is desirable to protect itself (Term 17(1)(k)).

Account control2 clauses flagged

IG can suspend any of your accounts at any time without giving a reason, leaving you able only to close trades, by phone (Term 27(1)). It can also declare a default whenever it reasonably believes action is desirable to protect itself or other clients (Term 17(1)(k)).

Why this matters

A default lets IG close all your trades, keep your funds against what you owe, and shut your accounts, without notice (Term 17(2)). The contract does not oblige IG to warn you first (Term 17(3)).

Exhibit 8WarningHarder than usual

We reserve the right to Suspend any or all accounts you hold with us at any time.
Clause 27(1) in Margin Trading Customer Agreement, p.16
Read from the broker's site on Archived copyOpen the reference

IG can change the contract at any time by written notice, and you accept the change unless you object within 10 business days (Term 28(1)). If you do object, IG suspends your account and you must close it.

Why this matters

An emailed notice counts as received one hour after IG sends it, so the clock can run while you are away. Objecting is not a way to keep the old terms, only a way to leave.

Exhibit 9NoticeStandard wording10 working days

You will be deemed to accept and agree to the amendment unless you notify us to the contrary within 10 business days of the date of our amendment notice.
Clause 28(1) in Margin Trading Customer Agreement, p.16
Read from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Notice emailedThe notice counts as received one hour after IG sends it.14(10)(e)
10 business daysUnless you object, IG treats you as accepting the change.28(1)
If you objectIG suspends your account and you must close it as soon as reasonably practicable.28(1)

Two business days to object, then IG's own team has the final say

Two business days is all IG International gives you to dispute a trade statement before it treats you as agreeing (Term 14(7)). Unresolved complaints go to IG's own compliance department, and its documents name no ombudsman. The contract also leaves you with the losses if someone else uses your login (Term 19(2)).

Dispute limits2 clauses flagged

If someone gets into your account using your password or security details, you cannot hold IG liable for the losses. That applies whether or not you authorised the access (Term 19(2)).

Why this matters

Other exclusions in the same section keep IG liable for its own negligence, but this one does not. Term 1(8) still preserves IG's duties under Bermuda's Investment Business Act.

Exhibit 11WarningHarder than usual

You agree that you will not hold us liable for any losses, liabilities, judgements, suits, actions, proceedings, claims, damages and/or costs suffered by you resulting from or arising out of any act or omission by any person obtaining access to your account by using your designated account number and/or password and/or Security Details, whether or not you authorised such access.
Clause 19(2) in Margin Trading Customer Agreement, p.13
Read from the broker's site on Archived copyOpen the reference

IG's own compliance team decides your complaint, with a written answer due within eight weeks. After that, the contract says only that you may be able to take it to the BMA, Bermuda's regulator (Term 26(1)).

Why this matters

The documents name no ombudsman, a free independent service that can order a firm to pay you. IG's complaints page does not mention the BMA route at all.

Exhibit 10NoticeStandard wording

If you are dissatisfied with the result of our compliance department’s investigation or with any action taken by us as a result of such investigation, you may be able to refer the complaint for further investigation to the BMA (www.bma.bm).
Clause 26(1) in Margin Trading Customer Agreement, p.16
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), ASIC (Australia)

Firms licensed by the FCA must tell a retail client who remains unhappy that they can take the complaint to the Financial Ombudsman Service, and ASIC-licensed firms must belong to the Australian Financial Complaints Authority. IG International's contract offers its own compliance department and a possible referral to the BMA, which regulates the firm but is not an ombudsman.

IG is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 2With no ombudsman named, IG's own compliance team has the last word on a statement you did not dispute within two business days.

The $2,500 welcome cashback is built for very heavy traders

$50,000,000 of trading, counted at full position size, within 30 days is what IG International's welcome cashback needs before paying its $2,500 headline. IG judges its promotions alone and can withhold a credited cashback, or take back a paid referral reward from any IG account, on suspicion.

Promotion terms1 clause flagged

IG's welcome cashback reaches $2,500 only once you trade $50,000,000 in notional value, the full size of your positions, within 30 days. Below $1,000,000 traded, the cashback is at most $25.

Why this matters

IG alone judges these schemes and can withhold a credited cashback, or take a paid referral reward from any IG account you hold, on suspicion. You must bring any claim about the cashback within 90 days.

Exhibit 13NoticeHarder than usual$50000000

The amount of Welcome Cashback Rebate an Eligible Participant is entitled to receive under this promotion depends on the total notional value traded during the Welcome Period and is set out in the table below:
Clause 11 in Welcome Cashback Programme terms and conditions
Read from the broker's site on Open the reference

A Bermuda company, an English-law contract, and IG free to sue anywhere

IG International, a Bermuda company, runs its contract under English law, with English courts and the right to sue you anywhere else (Term 29(1)). It can also hand your agreement to another firm on 10 business days' notice (Term 27(3)).

Forum1 clause flagged

The contract runs under English law, with English courts available for disputes, although IG International is a Bermuda company (Term 29(1)). IG can also sue you in any other country, and can hand your agreement to another firm on 10 business days' notice (Term 27(3)).

Why this matters

Any case you bring will be argued under English law, most easily in London. For disputes under Schedule A, which nets all your trades into one balance on a default, the English courts are exclusive.

Exhibit 14NoticeStandard wording

This Agreement and each Transaction entered into with you is in all respects governed by and construed and interpreted in accordance with English law and the courts of England and Wales will have non-exclusive jurisdiction to settle any legal action or proceedings arising out of or in connection with this Agreement, including any non-contractual disputes and claims.
Clause 29(1) in Margin Trading Customer Agreement, p.17
Read from the broker's site on Archived copyOpen the reference

Your contract is with IG's Bermuda company, not its UK or Australian arms

IG International Limited, a Bermuda company licensed by the Bermuda Monetary Authority, is behind ig.com/en and its Chinese and Spanish sites. It holds client money in trust accounts at banks that can be outside Bermuda, and its documents name no compensation scheme. Its site links an execution policy written for IG's UK companies, and its terms page lists no conflicts policy.

Who you contract with2 clauses flagged

You contract with IG International Limited, licensed in Bermuda, not with IG's UK or Australian companies (Term 1(1)). Your money sits in trust accounts at banks that can be outside Bermuda, such as HSBC in Hong Kong (Term 18(3)).

Why this matters

IG accepts no liability if one of those banks fails, and no IG document names a compensation scheme. IG pays you no interest on your balance, and can charge you when holding it costs IG money (Term 18(4)).

Exhibit 15NoticeStandard wording

This Agreement is between you, the client, and us, IG International Limited.
Clause 1(1) in Margin Trading Customer Agreement, p.2
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK)

Clients of firms authorised by the FCA are generally covered by the Financial Services Compensation Scheme if the firm fails and cannot return their money. IG International's documents rely on trust accounts under Bermuda's client money rules and name no compensation scheme.

IG is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

The contract says you consent to IG's order execution policy, its rules for filling your orders, and refers to a conflicts policy (Terms 2(9), 3(3)). IG International's terms page lists neither, and the execution policy its own site links to is written for IG's FCA-regulated UK companies.

Why this matters

The contract deems you to accept an execution policy that IG International's terms page does not list. The Chinese and Spanish sites also link to contract translations from 2020 and 2023, not the October 2026 text.

Exhibit 16Notice

Unless you notify us to the contrary, you will be deemed to consent to our Order Execution Policy when this Agreement comes into effect.
Clause 2(9) in Margin Trading Customer Agreement, p.2
Read from the broker's site on Archived copyOpen the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

IG's Chinese page quotes 0.8% for the conversion fee that its English charges page sets at 1.0%.

Said in public, in Chinese

當您以賬戶基準貨幣之外的貨幣進行差價合約交易時會產生0.8%的貨幣轉換費。

Word for word in English: When you trade CFDs in a currency other than your account's base currency, a 0.8% currency conversion fee is charged.

Currency conversion fee row on IG International's Traditional Chinese charges page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of ig.com

In the contract

1.0% fee applies for CFD trades in a currency different from your account’s base currency

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of ig.com

02

IG's Spanish page gives 0.8% as its standard conversion cost, against 1.0% on the English charges page.

Said in public, in Spanish

Nuestro costo estándar es del 0,8%.

Word for word in English: Our standard cost is 0.8%.

Currency conversion cost row ('Costo de conversión divisa') on IG International's Spanish-language costs page

In the contract

1.0% fee applies for CFD trades in a currency different from your account’s base currency

03

IG says it hedges only when clients as a whole lean one way, but its contract lets it hedge ahead of your own order and keep the profit.

Said in public, in English

We hedge only when overall client exposure is skewed in one direction

'The essentials' list on IG International's 'How does IG make money?' page

In the contract · clause 3(2)(b)

we may execute hedging transactions prior to (i.e. in anticipation of) or following receipt from you of a request, or information concerning a contemplated request, to open or close a Transaction in order to manage our risk in relation to Transaction(s) you are entering into or contemplating, all of which may impact on the price you pay or receive in relation to such Transaction(s) and any profits generated by such hedging may be retained by us or an Associated Company without reference to you;

04

IG's client money page denies having any lien or set-off over your money, while Term 16(9) of its contract gives IG a lien by name.

Said in public, in English

It also means that it’s easily identifiable as client money, so IG and its creditors don’t have any charge, liens, or rights of set-off or retention over it.

'What happens to the money I deposit with IG?' section of IG International's client money page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of ig.com

In the contract · clause 16(9)

As long as there are outstanding Losses in respect of any account in which you may have an interest under this or any other agreement with us or an Associated Company, in each case whether as a joint account or otherwise, we may retain possession of any Instruments or other assets held by us or an Associated Company or to your credit with us or an Associated Company in relation to any account in which you may have an interest (this right is known as a lien).

05

IG's funding page quotes 1% or 0.5% for credit card deposits, while its charges page lists 2.3% of the transaction amount.

Said in public, in English

Cost: 1% charge for Visa and 0.5% charge for MasterCard.

Credit card entry on IG International's 'How to fund your account' page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of ig.com

In the contract

2.3%* of the transaction amount, levied by the card processor.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of ig.com

06

The Spanish edition promises service mainly in Spanish, while the current English agreement, which replaces it, says IG will communicate in English.

Said in public, in Spanish

Le proporcionamos este Contrato en español, que será el idioma en el que principalmente nos comunicaremos con Usted durante la duración del mismo, aunque en ocasiones utilizaremos el inglés.

Word for word in English: We provide this Agreement to you in Spanish, which will be the language in which we mainly communicate with you for its duration, although we will occasionally use English.

Term 1(9) of the August 2023 Spanish edition of IG International's customer agreement, linked from IG's Spanish terms page

In the contract · clause 1(9)

This Agreement is supplied to you in English and we will communicate with you in English for the duration of this Agreement.

What changed quietly

No previous review of IG International's documents exists to compare against.

  • REMOVEDClause 18(5) · February 2020 to October 2026

    IG removed its right to give a balance untouched for six years to charity, along with its promise to repay you if you later claimed it, so the contract is now silent on long-dormant balances.

  • REWRITTENClause 1(2) · February 2020 to October 2026

    IG moved both its business and registered addresses in Bermuda, and the rest of the clause is unchanged.

    Our business address is Hamilton House, 10 Queen Street, Hamilton HM11, Bermuda, and our registered address is Crawford House, 50 Cedar Avenue, Hamilton HM11, Bermuda.

The documents this reading is based on

17 files, all published by IG. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording IG publishes.

How this reading was done

Every clause above was read out of a document IG publishes itself

This reading was published on .

Documents
13 of 17downloaded from the broker's site, and 13 read in full
Pages opened
22pages walked to find those documents, footer links included
Older copies
3earlier versions downloaded
Marketing pages
1public pages set against what the contract says
Languages
EN vs ES vs ZHthe language it advertises in, against the language it contracts in

Who the contract is with

IG International Limited

Clients of ig.com/en and of IG's Chinese and Spanish-language sites contract with IG International Limited, registered in Bermuda under No. 54814 and licensed by the Bermuda Monetary Authority (Terms 1(1), 1(2)). It is not IG Markets Ltd, the FCA-regulated UK company, nor IG Europe GmbH in Germany, although it receives services from IG Markets Limited. IG's current documents give five different Bermuda addresses for it. The complaints page still sends letters to 46 Reid Street, while the October 2026 agreement names Hamilton House, 10 Queen Street as its business address.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

IG International writes negative balance protection for retail clients into the contract itself, so you cannot lose more than the funds on your account (Term 1(4)). Its introduction points you to every term that lets IG void or close trades (Term 1(3)). Client money sits in trust accounts, and the client money page openly discloses the risk from term deposits of up to 95 days. Neither the contract nor the charges page names an inactivity fee. The Chinese pages state that English is the binding language. The October 2026 contract repeats the February 2020 text except for new addresses and one deleted clause.

This broker's document list also holds a German cookie notice and a German trading glossary from IG's German site, which IG Europe GmbH runs. They are not part of IG International's contract, and only part of the glossary is covered. This review covers IG International's October 2026 customer agreement in full and compares it sentence by sentence with the February 2020 edition held by the Internet Archive. From the Spanish edition (August 2023) it covers only the quoted clauses, and from the Chinese edition (February 2020) only the cover page. It does not cover the per-market cost tables, most product detail pages, the margin pages or the MT4 guide. IG International publishes no Client Money Interest Policy, no conflicts policy and no order execution policy under its own name. The review also leaves out the client portal, the application form and a real statement, and it does not cover IG's UK, European or Australian companies.

How to check any of this yourself

Every quote above links to the IG file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document IG publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge IG on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 22, 2026.

If you represent IG and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on IG. Whether its licence is real and current is a separate check on the broker profile.

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