In general, both IG and FOREX.com deliver great user experiences, however, there are some key distinctions to be conscious of. We compared the features of each broker in our IG vs. FOREX.com comparison to help traders make a more educated decision.
Regulation
FOREX.com has four global Tier-1 licenses, whereas IG has six. IG now possesses three worldwide Tier-2 licenses, whereas FOREX.com only has one.
IG is regulated by:
- ASIC (Australian Securities & Investment Commission)
- JFSA (Japanese Financial Services Authority)
- MAS (Monetary Authority of Singapore)
- FINMA (Swiss Financial Market Supervisory Authority)
- FCA (Financial Conduct Authority)
- CFTC (Commodity Futures Trading Commission)
FOREX.com is regulated by:
- IIROC (Investment Industry Regulatory Organization of Canada)
- JFSA (Japanese Financial Services Authority)
- FCA (Financial Conduct Authority)
- CFTC (Commodity Futures Trading Commission)
Investment Options
IG
Users who have IG Index have access to over 17,000 different financial products to the trade.
ETFs, bonds, futures, as well as interest rates, are all possible to trade.
IG Smart Portfolios are controlled portfolios that mix a diversified asset allocation to create a balance of earnings, progress, and risk to fit every trader’s needs. Ideal for individuals who only have a limited amount of time to conduct research.
CFDs are offered for crypto trading, though not for trading the underlying asset (for example, purchasing Bitcoin). In the United Kingdom, IG doesn’t provide crypto derivatives to retail traders.
The list below outlines the various investment options offered to IG customers.
- Forex Trading
- CFD Trading
- 19537 Tradeable Symbols in total
- 100 Forex Pairs in total
- US Stock Trading (Non CFD)
- Int’l Stock Trading (Non CFD)
- Cryptocurrency (CFD)
- Social Trading / Copy-Trading
FOREX.com
The broker gives access to a diverse range of financial products throughout a variety of asset types, including bonds, ETFs, indices, and more.
Via its partner, FuturesOnline, the company’s product range in the United States is limited to spot FX trading, unleveraged gold and silver, and also futures.
CFDs for crypto trading are offered by the broker, though not for trading the underlying asset (for example, purchasing Bitcoin). Retail traders from whatever broker’s United Kingdom branch, as well as United Kingdom residents, aren’t permitted to trade cryptocurrency CFDs.
The list below outlines the various investment options accessible to FOREX.com customers.
- More than 80 currency pairs
- More than 4,500 popular stocks
- Commodities
- Indices
- Bonds
- ETFs
- Sectors
- Crypto
- Gold & Silver
Pricing
IG
IG Index offers attractive spreads on popular currency pairs, like the EUR/USD, beginning at 0.6 pips. Spreads begin at 1 point on prominent indices like the FTSE 100, while spreads on Spot Gold begin at 0.3 pips.
Additional trading charges must be kept in mind, beginning with nightly rollover fees. IG’s website has information about rolling daily rates and rules, which are changeable. Dormant accounts are also subject to an inactivity charge.
- The minimum Deposit is £250.00
- Average Spread EUR/USD – Standard 0.828
- All-in Cost EUR/USD – Active 0.365
- Active Trader or VIP Discounts
- Execution: Agency Broker
- Execution: Market Maker
FOREX.com
FOREX.com began as a market-maker but has subsequently evolved into an ECN, generating money either from client transactions that “cross” the bid/ask spread or via industry-standard fees. FOREX.com has upfront pricing that is easy to find.
The spreads differ based on the account option selected by the user. For instance, the minimum EUR-USD currency pair spread on a “standard” account for United States residents is 1 pip, whereas spreads on “commission” and “STP Pro” accounts are 0.2 & 0.1, respectively.
The Active Trader Program is available to both standards as well as commission account users. Anybody who deposits a minimum of $10,000 or deals $25 million in volume in 30 days is eligible for the program.
- The minimum Deposit is $100.00
- Average Spread EUR/USD – Standard 1.1
- All-in Cost EUR/USD – Active 1.1
- Active Trader or VIP Discounts
- Execution: Market Maker
Platforms
IG
The broker’s proprietary platform has been recognized as the finest in its class and has gained widespread acclaim from the community. Spread betting and CFD trading are also possible on the site. It’s simple to operate, with one-click trading, in-depth technical analysis, and risk mitigation features. The web-based platform provides a real-time display of current prices and spreads, as well as guaranteed stops & limits to try to maintain profit and loss under control. A great, all-around option for the downloadable platform is the modern web app.
Users of IG Index can also employ MT4 (MetaTrader 4), a third-party platform. The MetaTrader 4 platform is appropriate for users of all levels of expertise, it includes 18 custom app add-ons, and users are able to trade a wide variety of financial instruments.
- Virtual Trading (Demo)
- Proprietary Platform
- Desktop Platform (Windows)
- Web Platform
- Social (Copy) Trading
- MT4 (MetaTrader 4)
- 86 Charting – Indicators / Studies in total
- 40 Charting – Drawing Tools in total
- Charting – Trade From Chart
- 9 Watchlists – Total Fields
- Order Type – Market
FOREX.com
The broker’s platforms cater to both active day traders and the rare longer-term trader. For a desktop version, traders can use the downloaded sophisticated trading platform or MT4 (MetaTrader 4), the web trader for a trading experience that is based on a browser, or MetaTrader 4 mobile application for trading on mobile devices.
Users are able to view charts, economic calendars, headlines, holdings, and trade/order records, along with trading signals and research data, and also market analysis from the broker’s own specialists, through the platforms. The platforms have very few disadvantages. They are efficient enough to make rapid-fire transactions if required, and there are enough signals and editing tools to please the devoted technical analyst.
- Virtual Trading (Demo)
- Proprietary Platform
- Desktop Platform (Windows)
- Web Platform
- MT4 (MetaTrader 4)
- MT5 (MetaTrader 5)
- Charting – Indicators / Studies: 139 in total
- Charting – Drawing Tools: 25 in total
- Charting – Trade From Chart
- 18 Watchlists – Total Fields
- Order Type – Market
Educational Offering
IG
IG has some excellent instructional materials. Trader Users may join webinars, participate in courses, and view educational videos with a demo account.
The majority of educational content on IG is divided into three levels: beginner, intermediate, & advanced. Live classes, as well as other lessons, are also offered. It seems that using a demo account – that IG provides – is a great way to learn about investing.
Additionally, users have access to AutoTrading tools and a variety of signal sources. Furthermore, IG publishes a blog with news releases and in-depth analytics predictions.
- Has Education – Forex or CFDs
- Client Webinars
- Client Webinars (Archived)
- Videos – Beginner Trading Videos
- Videos – Advanced Trading Videos
- Investor Dictionary (Glossary)
FOREX.com
The educational materials of FOREX.com are up to industry standards and quite well. Users are able to access information based on their degree of experience or by subject. All information is solely accessible via the website, apart from “technical analysis” subjects that are accessible on the platform. There is also a thorough glossary accessible.
Newbie investors will discover some useful background knowledge, but becoming an expert in the markets only through FOREX.com’s instruction is doubtful. The content, on the other hand, addresses all of the important issues that a newbie must be aware of.
- Has Education – Forex or CFDs
- Client Webinars
- Videos – Beginner Trading Videos
- Investor Dictionary (Glossary)
Final Thoughts
We thoroughly evaluated the two brokers and found that IG is the overall winner. In terms of trading instruments, IG outperforms the competition. Again, we observed that IG is unrivaled in categories like market research and trading platforms.
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