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FXCM vs IG
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Updated:
Compare FXCM Vs IG Side by Side
Unsure whether to choose FXCM vs IG and wonder which broker suits your needs more? Read our detailed comparison guide of FXCM Review and IG Review, which includes a comparison of the safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
Summary
| Feature | FXCM | IG |
|---|---|---|
| Website | //www.fxcm.com | //www.ig.com |
| Founded year | 1999 | 1974 |
| Headquarter | UK | UK |
| Licenses | UK, Australia, South Africa | UK, Australia, Switzerland, Singapore, UAE, Japan, US |
| Minimum Deposit | US$50 | 300 US$ |
| Trading Platforms | MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader, Capitalise AI | IG Proprietary, MT4 |
| Eurusd avg Spread | 1.3 pips | 0.6 pips |
Licenses
| Feature | FXCM | IG |
|---|---|---|
| Licenses Countries Info (short) |
|
|
FXCM and IG are both esteemed brokerage firms, subject to stringent regulation by respected financial authorities. This regulation ensures a safe and equitable trading environment for their clients. They are supervised by regulatory bodies in the UK, Australia, and various international jurisdictions, enabling them to offer their services globally.
One notable advantage that IG holds is its ability to provide services to clients in the United States.
Broker Types
| Feature | FXCM | IG |
|---|---|---|
| Broker types |
|
|
IG operates as a Market Maker Broker, facilitating trading by taking the opposing side of its clients’ trades. In contrast, FXCM functions as both a Market Maker and an STP Broker. As an STP Broker, FXCM routes traders’ orders directly to liquidity providers without acting as a counterparty. This approach generally leads to swifter execution and the potential for reduced spreads, making it a preferred option for traders who seek direct market access.
Trading Conditions
| Feature | FXCM | IG |
|---|---|---|
| Trading Conditions |
|
|
Both brokers offer support for a variety of trading strategies, encompassing hedging and social trading. They provide narrow spreads, ensuring cost-efficiency, and delivering swift execution. Additionally, both brokers furnish a comprehensive suite of trading tools, enhancing the trading experience for their clients.
Fees & Commissions
| Fees & Commissions | FXCM | IG |
|---|---|---|
| Inactivity Feemonth | 0 $ | 18 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -2.5% | -2.5% |
| Rollover fee eurusd sell 1 lot | +3% | +2.5% |
| Avg Eurusd standard acc | 1.3 pips | 0.6 pips |
| Gold | 0.76 | 30 |
| Brent oil | 0.04 | 3 |
| Bitcoin | 27.13 | 65 |
IG boasts notably tighter spreads when compared to FXCM, contributing to an overall more favorable fee structure. IG charges zero commissions and imposes no additional fees. Conversely, FXCM’s spreads are slightly higher than the industry average, and it levies an inactivity fee.
Account Types
| Feature | FXCM | IG |
|---|---|---|
| Account types |
|
|
FXCM provides a single account option, whereas IG offers a more diverse account selection, catering to various levels of trading experience as well as corporate needs, all within a single account framework. Notably, FXCM distinguishes itself from IG by offering Islamic accounts, allowing traders who adhere to Sharia principles to engage in currency trading on their platform.
Markets & Instruments
| Markets & Instruments | FXCM | IG |
|---|---|---|
| Forex | 40 | 200+ |
| Indices | ✔️ | 78 |
| Commodities | 10 | 45 |
| Cryptocurrencies | 7 | 8 |
| Shares | 64 | 10,000+ |
| Bonds | ❌ | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | 35 | ✔️ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 15 | 2,000+ |
FXCM and IG have similar market offerings that incorporate a variety of forex pairs, cryptos, ETFs, shares, as well as spread betting. However, when it comes to the number of trading instruments, IG definitely takes the lead.
Trading Platforms
| Feature | FXCM | IG |
|---|---|---|
| Platforms |
|
|
FXCM provides a more extensive array of trading platforms, including MT4, Zulutrade, NinjaTrader, and a custom platform. Conversely, IG primarily offers its user-friendly proprietary platform, which has a more limited set of tools and basic functions, alongside MT4. For advanced traders, FXCM is undoubtedly the recommended preference due to its diverse platform options.
Deposit & Withdrawal Methods
| Feature | FXCM | IG |
|---|---|---|
| Payment methods |
|
|
FXCM alike IG offers multiple funding options, which are generally similar, including credit/debit cards and various e-wallets. However, IG distinguishes itself by providing a broader range of e-payment methods, whereas FXCM offers only Skrill as an e-wallet option.
Others
| Feature | FXCM | IG |
|---|---|---|
| Others |
|
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Both brokers stand out for their top-notch customer support channels, including telephone, live chat, and email assistance, with IG being available 24/7. In terms of educational resources, FXCM stands out with a robust offering, which includes hosting regular educational events in cities worldwide. Notably, there is a significant focus on enhancing trading knowledge in the African region, reflecting FXCM’s expanding presence there. Furthermore, FXCM provides advanced and sophisticated research tools for traders seeking in-depth market insights.
Conversely, IG offers the IG Academy, featuring free trading courses, webinars, and a wealth of educational materials. These comprehensive resources empower traders to enhance their skills and make informed trading decisions from the very beginning of their trading journey.
Conclusion on IG vs FXCM
In conclusion of FXCM vs IG comparison Review, FXCM caters primarily to advanced traders with its advanced tools and multiple platform options. It also extends trading opportunities for Muslim traders with Islamic accounts. On the other hand, IG distinguishes itself with a broad range of instruments, especially in the cryptocurrency realm, and offers competitive spreads, making it a solid choice for a diverse range of traders. Additionally, IG is the preferred choice for traders based in the United States, as it holds a license to operate in the US market. Here is our final recommendation:
- FXCM — 🥇Best ZuluTrade Broker that helps traders improve their own trading strategies.
- IG — 🥇Best Broker for Crypto CFD Trading for a number of top traders and Best for US traders Broker
