Full Review of IG Educational Resources for Traders
Everywhere you turn you hear that no education is needed in order to trade binary options, because… it’s so easy and risk free. That’s utter bull… Education is the main success ingredient for trading. Another ingredient is a trustworthy and professional broker but the best thing is when such a broker also offers you proper education material. IG has been already reviewed and we know they are a trusted broker but can they deliver in the education department? Well, we are here to find out.
A Real Demo. Is that an Oxymoron?
The best way to learn something is through practice and IG allow you to practice by offering a Demo account which is just clicks away. I believe I opened one in under 2 minutes, without sending personal identification documents and of course, without depositing. As you know, some brokers require you to open a real account and deposit before they give you access to a Demo account… that is almost illogical: I want a Demo to see if I can trade and if I like your platform, and ultimately to see if I will invest with you. But if I have already invested (in order to get the demo), that means the choice is already made for me. Ah, forget it. Binary options brokers impose all sorts of weird conditions and this is not the weirdest. What’s important here is that IG offers a normal Demo account, without giving you any hassle and Demo trading is a major part of trader education.
I’ve always wondered why brokers still use the acronym FAQ for Frequently Asked Questions. Come on, it’s clear what is sounds like and to be honest, sometimes it feels that most binary options brokers are just trying to FAQ. Well, at least IG doesn’t use it but instead they’ve built a mini site dedicated entirely to answering the most frequently asked questions and that site is so complex that chances are you will find what you are looking for. Everything is arranged in categories, such as Trading Platform, Technical Help, Payments, Managing Your Accounts, etc. and some of these categories even have subcategories so it’s easy to get lost if you’re not careful. Basically their Help and Support page is a FAQ on steroids, a huge amount of information about all their features.
Getting to Know Their Trading Platform
If you don’t know how to use the trading platform of your broker, you can be the best trader in the world but you won’t make any money if you cannot open and close a trade. It’s no secret that IG’s trading platform is far more complex and complicated than the widespread SpotOption or similar, but to compensate this they offer a separate tutorial for each platform they provide (web-based, iPhone, Android, Windows). It is not an in-depth tutorial, but hey, for that you have us so we’ve already prepared an extensive article where we explain in detail how to use IG’s platform.
The Cherry on Top
Videos! That’s the cherry on top. Ever wondered what exactly CFDs are? Or futures, or IPOs, or how an Index is actually built/calculated? If yes, then IG is the place to find out. At the top of their main page, you will find the main asset classes they offer for trading and each of these have dedicated videos, explaining in detail what they are and how to trade them. The section “Other Markets” contains information about Sprint Markets (fast, 60 sec style binary options), Binaries, Bonds and much more. Want to know the history of Bitcoin in about 2 minutes? IG has a video about it and I recommend you watch it. All their videos are educational and hold great value for both newbie and medium level traders so spend a little time there and probably you will not be sorry.
The Bottom Educational Line
So, does IG teach people how to trade? Yes! They offer straightforward explanations, clear answers to the questions a trader might have and their videos are extremely well put together. I’d say the videos are the best part about IG education because they contain useful information, not the mumbo-jumbo found in 99% of other brokers’ videos. They don’t show me a cartoon of a John watching television and then trading based on what he heard there and most importantly, they always mention the risks attached to trading. They won’t give you strategies or systems to trade, but I don’t think that’s their job, so yes, overall I believe that IG does a good job with their education material.