Broker review · Checked 25 Oct 2026

IG review 2026: is IG legit in Kenya and South Africa?

IG has been around since 1974 and its South African company is an approved OTC derivative provider. But IG says IG Markets South Africa no longer opens new accounts: new South African applicants go to IG International instead. Existing local clients fund in rand.

Founded1974
🇰🇪 CMANot licensed
🇿🇦 FSCAFSP 41393
Minimum depositBank transfer: no minimum; card: R200
M-PesaNot confirmed

By D. Kalburov, editor · Licence data from the CMA and FSCA registers · How we review brokers

Is IG regulated? Licence by country

🇰🇪 KenyaNot on the CMA register

Regulator: Capital Markets Authority (CMA)
Local company: Not yet verified
Licence number: —
M-Pesa: Not confirmed

🇿🇦 South AfricaFSCA licence FSP 41393

Regulator: Financial Sector Conduct Authority (FSCA)
Local company: IG Markets South Africa Limited
Licence number: FSP 41393

IG says IG Markets South Africa no longer opens new trading accounts; new applications are handled by IG International. Existing local accounts stay with the South African company, which is an approved OTC derivative provider.

Source: ig.com, not yet checked on the register

Other IG group companies are supervised by FCA (UK), ASIC (Australia). Those licences only protect you if your account is with that company.

A licence means someone supervises the broker. It does not make trading safe: most retail CFD accounts lose money.

About IG

Founded 1974 · Head office: London, UK

IG Group is a London-listed broker and one of the oldest in the CFD industry. IG Markets South Africa Limited holds FSP 41393 and is on the FSCA list of approved OTC derivative providers.

IG's South African charges page now states that IG Markets South Africa will no longer provide new trading accounts and that new applications are handled by IG International. If you open an account today, check which company it is with.

Who IG suits, and who should look elsewhere

Good fit if you

already have an IG South Africa account
want JSE Top 40 and USD/ZAR CFDs with ZAR funding

Look elsewhere if you

want a new account with the local South African company
are in Kenya

IG account types and minimum deposit

Account	Minimum deposit	Pricing
CFD account	Bank transfer: no minimum; card: R200	EUR/USD from 0.6 points (average 0.75)

IG fees: spreads, commission and other charges

South African share CFDs	0.20% per side, minimum R50
US share CFDs	2 cents per share, minimum $15
Overnight funding (forex)	Tom-next rate plus 0.3% admin
Currency conversion	0.5%
ProRealTime	R300 a month, refunded with 4+ trades
Dormant accounts	Closed after 24 months with no trades or deposits

From IG South Africa's charges and help pages.

Work out the cost of a trade before you place it with our pip value and profit and loss calculators.

IG deposits and withdrawals in Kenya and South Africa

🇰🇪 Kenya

IG is not on the CMA register. If it accepts you, your account sits with an offshore company and you have no CMA complaints route.
No Kenyan payment method confirmed. Expect cards, bank wire or e-wallets such as Skrill and Neteller.

🇿🇦 South Africa

IG Markets South Africa Limited, FSP 41393, approved OTC derivative provider.
New accounts are now handled by IG International, per IG.
Domestic accounts fund in ZAR; card deposits from R200.

M-Pesa limits, rand EFT, cards, e-wallets and the payment scams to avoid: read our deposits and withdrawals guide.

IG trading platforms

Is your money safe with IG?

London-listed group with FCA regulation.
Approved ODP in South Africa for existing local accounts.

IG pros and cons

Pros

Approved ODP in South Africa
ZAR funding for local accounts
JSE and USD/ZAR markets
Long history

Cons

No new accounts at the South African company
Not licensed in Kenya
Share CFD minimum commissions

Our real-money test of IG

Coming

We will open a IG account, deposit, place a trade and withdraw, then publish the screenshots, the time each step took and every fee we paid.

IG withdrawal time: reports from traders

How long do IG withdrawals really take?

Loading reports…

Median of reports from traders. Not checked by us; our own tests are marked separately.

Withdrawal stuck or refused at IG? Get a ready complaint letter and the right regulator contact with our complaint desk →

IG: questions people ask

Is IG regulated in Kenya?

No. IG is not licensed by the CMA. It may still accept clients from Kenya through an offshore company, but you would have no CMA protection or local complaints route.

Is IG regulated by the FSCA in South Africa?

Yes. In South Africa, IG operates through IG Markets South Africa Limited, which holds FSCA licence FSP 41393. Check that this company is named on your client agreement, not an offshore company of the same brand. IG says IG Markets South Africa no longer opens new trading accounts; new applications are handled by IG International. Existing local accounts stay with the South African company, which is an approved OTC derivative provider.

Can I still open an IG South Africa account?

IG says new applications are handled by IG International, not IG Markets South Africa.

What is the IG minimum deposit in South Africa?

There is no minimum by bank transfer; card deposits start at R200.

Sources for this review (checked 25 Oct 2026)

Fees, minimums and payment methods change and can differ by the company you sign with. Confirm them on the broker's site before you deposit. Spotted something out of date? Tell us.