IG Makes History: First UK-Listed Broker to Offer Crypto Trading
IG has achieved a significant milestone in the UK trading landscape by becoming the first UK-listed company to offer cryptocurrency trading to retail clients. This groundbreaking launch positions the established broker ahead of traditional competitors and opens new opportunities for UK investors seeking crypto exposure through a regulated platform.
Our Take on IG's Historic Crypto Launch
After examining IG's new crypto offering, we found this development represents a major shift in how UK investors can access digital assets. The integration of cryptocurrencies into IG's established trading platform creates a compelling all-in-one solution that traditional crypto-only platforms struggle to match.
What IG's Crypto Service Offers
IG's crypto trading service, powered by Uphold Europe Limited, provides access to over 35 digital assets ranging from established cryptocurrencies like Bitcoin and Ethereum to emerging tokens such as Curve and Ondo. The service operates through IG's existing platform infrastructure while leveraging Uphold's cryptocurrency expertise.
Key Features We Identified
The standout features of IG's crypto offering include 24/7 trading capabilities, allowing investors to trade cryptocurrencies around the clock, unlike traditional market hours. The £10 minimum investment threshold makes crypto accessible to newer investors, while the transparent fee structure eliminates hidden costs that often plague cryptocurrency trading.
Most significantly, IG integrates crypto trading alongside traditional assets including shares, indices, ETFs, and forex within a single platform. This unified approach appeals to investors who want diversified portfolios without managing multiple trading accounts.
Fee Analysis: How IG Compares
Our analysis reveals IG's competitive positioning in the UK crypto trading market through its straightforward fee structure. The broker charges a total cost of 1.49%, which includes all trading spreads and excludes additional deposit or FX fees for GBP transactions.
The fee comparison shows IG's competitive advantage over platforms like Coinbase, which charges nearly 5% in total fees for the same £1,000 transaction. While eToro offers lower total costs at 1.75%, it requires GBP to USD conversion, adding complexity and potential FX exposure for UK investors.
Technical Partnership with Uphold
IG's crypto service operates through a partnership with Uphold Europe Limited (FRN 900577), an FCA-regulated cryptocurrency brokerage. This arrangement means while investors access crypto through IG's familiar interface, Uphold handles the underlying cryptocurrency operations including custody, order execution, and regulatory compliance.
The partnership allows IG to offer crypto services without requiring separate FCA permissions for cryptocurrency activities, accelerating their market entry while maintaining regulatory compliance.
Who Should Consider IG's Crypto Service
Based on our analysis, IG's crypto offering suits several investor profiles. Existing IG clients benefit from seamless integration with their current portfolios, while new investors appreciate the low £10 minimum and established platform reliability.
The service particularly appeals to investors seeking traditional broker credibility for cryptocurrency investments. With IG's 50-year trading history and established UK presence, risk-averse investors may find more comfort compared to newer crypto-only platforms.
However, dedicated cryptocurrency traders might find the 1.49% spread higher than specialized crypto exchanges that offer tighter spreads for high-volume trading. To explore other broker options that might better suit active crypto traders, visit our current promotions and bonuses where you can find competitive offers from various platforms.
Important Considerations and Risks
We must highlight several important factors regarding IG's crypto service. Unlike traditional investments, cryptocurrency holdings through this service don't qualify for Financial Services Compensation Scheme (FSCS) protection, meaning no compensation exists if losses occur due to firm failure or operational issues.
The highly volatile nature of cryptocurrencies means investors could lose their entire investment. Additionally, the largely unregulated crypto market presents risks from cyber-attacks, financial crime, and technological failures that could prevent selling at desired times.
While Uphold provides the underlying infrastructure, investors should understand that their account relationship exists with Uphold Europe Limited rather than IG directly, though IG provides the trading interface and customer support.
Final Thoughts
IG's entry into cryptocurrency trading marks a pivotal moment for UK retail investing. By becoming the first UK-listed company to offer crypto services, IG demonstrates confidence in digital asset demand while providing investors a familiar, regulated pathway to cryptocurrency markets.
The integration of crypto with traditional assets through IG's established platform creates genuine value for investors seeking portfolio diversification without platform fragmentation. While fees remain competitive rather than market-leading, the convenience and regulatory comfort may justify costs for many investors.
For investors considering cryptocurrency exposure through established financial services, IG's offering represents a significant step forward in mainstream crypto adoption within the UK market. To find the most suitable broker for your investment goals, including crypto trading capabilities, use our Broker Match Tool for personalized recommendations based on your trading preferences and experience level.
Frequently Asked Questions
What cryptocurrencies can I trade through IG?
IG offers over 35 cryptocurrencies including major assets like Bitcoin, Ethereum, and emerging tokens such as Curve and Ondo. The selection covers both established and newer digital assets.
How much does it cost to trade crypto on IG?
IG charges a total cost of 1.49% for cryptocurrency trading, with no additional debit card fees or FX charges for GBP transactions. This compares favorably to many competitors charging significantly higher total costs.
Is my cryptocurrency investment protected if something goes wrong?
Cryptocurrency investments through IG are not covered by the Financial Services Compensation Scheme (FSCS) as crypto is not considered a 'specified investment' under UK regulation. Standard investment protections don't apply.
Can I trade cryptocurrencies 24/7 through IG?
Yes, IG's crypto service operates 24/7, allowing you to trade digital assets around the clock, unlike traditional market hours for stocks and other securities.
What's the minimum amount I need to start trading crypto on IG?
You can begin cryptocurrency trading on IG with a minimum deposit of just £10, making it accessible for new investors wanting to start small.
How does the IG-Uphold partnership affect my account?
While you access crypto trading through IG's platform, your cryptocurrency account is actually held by Uphold Europe Limited. IG provides the trading interface and customer support, but Uphold handles custody and regulatory compliance.
Can I manage crypto alongside my other investments on IG?
Yes, one of IG's key advantages is integrating cryptocurrency trading with traditional assets like shares, ETFs, indices, and forex within a single platform, allowing unified portfolio management.
Risk Disclaimer. Trading involves significant risk and may not be suitable for all investors. The value of investments can go down as well as up, and you may lose some or all of your initial investment. Past performance is not indicative of future results. We recommend only investing money you can afford to lose and ensuring you fully understand the risks involved before trading.
