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IG Markets vs Interactive Brokers

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IG
Interactive Brokers

Compare IG Markets vs Interactive Brokers Side by Side

Can’t pick between IG Markets and Interactive Brokers and have doubts of which broker is actually better? Use our detailed guide of  IG Markets Review vs Interactive Brokers Review, where we compared safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.

Summary

FeatureIG MarketsInteractive Brokers
Website//www.ig.com//www.interactivebrokers.co.uk
Founded year19741977
HeadquarterUKUSA
LicensesUK, Australia, Switzerland, Singapore, UAE, Japan, USUSA, Canada, Australia, UK, Hong Kong, Japan, India
Minimum Deposit300 US$100 US$
Trading PlatformsIG Proprietary, MT4TWS, IB WebTrader
Eurusd avg Spread0.6 pips0.3 pips

Licenses

FeatureIG MarketsInteractive Brokers
Licenses Countries Info (short)
  • ASIC
  • JFSA
  • MAS
  • FINMA
  • FCA
  • CFTC
  • ASIC
  • IIROC
  • JFSA
  • FCA
  • CFTC

IG Markets and Interactive Brokers are regulated in Australia and hold EU licenses, demonstrating their commitment to stringent regulatory standards. In addition to their Australian and EU regulatory standing, both brokers maintain a strong presence in various other reputable jurisdictions, ensuring the reliability and accessibility of their services to traders worldwide. Additionally, Interactive Brokers goes a step further by extending its services to traders in the United States.

Broker Types

FeatureIG Markets Interactive Brokers
Broker types
  • Market Making
  • ECN
  • NDD
  • DMA

IG Markets, primarily functioning as a Market Maker, ensures trading stability for a wide range of traders by offering fixed fees or spreads to maintain consistent trading costs. In contrast, Interactive Brokers employs various execution models, serving as a DMA broker for some assets and utilizing electronic bridges, STP, and OTC models for others, adapting its approach based on the specific asset type.

Trading Conditions

FeatureIG MarketsInteractive Brokers
Trading Conditions
  • beginners
  • commission
  • floating spread
  • low spread
  • tight spread
  • zero spread
  • expert advisor
  • hedging
  • scalping
  • social trading
  • beginners
  • commission
  • fixed spread
  • floating spread
  • low spread
  • tight spread
  • expert advisor
  • hedging
  • scalping

While IG Markets can be a good fit for beginners, Interactive Brokers sets itself apart with its advanced trading conditions, encompassing a broader array of features via its sophisticated packed with tools IBKR Trading Platform, also great for Algoritmic trading, APIs and autotrading making it a prime choice for experienced traders.

Fees & Commissions

Fees & CommissionsIG MarketsInteractive Brokers
Inactivity Feemonth18 $0$
Deposit fee0 $0$
Withdrawal fee0 $0$
Rollover fee eurusd buy 1 lot-2.5%-1.5%
Rollover fee eurusd sell 1 lot+2.5%+1.5%
Avg Eurusd standard acc0.6 pips0.3 pips
Gold301.5 bps
Brent oil30.05%
Bitcoin650.12-0.18%

Both IG Markets and Interactive Brokers offer low fees, including zero commission for deposits and withdrawals. However, IG Markets charges an $18 inactivity fee, while Interactive Brokers provides relatively lower spreads in comparison to IG Markets.

Account Types

FeatureIG MarketsInteractive Brokers
Account types
  • Standard Account
  • Standard Account
  • Islamic Account
  • Swap Free Account
  • MAM Account
  • PAMM Account

IG Markets vs Interactive Brokers brokers offer Standard accounts, accounts have their own unique features and useful set of tools, yet are more tailored solutions according to the trading specifications traders can select. Interactive Brokers provides over 10 account types, including options like Family Accounts and Small Business Accounts, to cater to diverse trader preferences. Muslim traders should choose Interactive Brokers since IG doesn’t offer Islamic Account.

Markets & Instruments

Markets & InstrumentsIG MarketsInteractive Brokers
Forex200+100+
Indices78✔️
Commodities45✔️
Cryptocurrencies84
Shares10,000+70+
Bonds❌✔️
Options❌✔️
Binary options❌❌
Spread betting✔️❌
Treasuries❌❌
Futures❌✔️
Etfs2,000+13000

Compared to IG, Interactive Brokers offers a more diverse range of instruments, including Real Stocks and Futures, in addition to trading CFDs on Currencies, Bonds, Futures, and Options products. Interactive Brokers also boasts a larger selection of ETFs, whereas IG’s range of instruments remains relatively limited. However, IG Markets distinguishes itself by offering Spread betting option to its UK traders and also considered a quite robust Broker in terms of instruments and offering overall

Trading Platforms

FeatureIG MarketsInteractive Brokers
Platforms
  • own platform
  • MetaTrader 4
  • own platform
  • WebTrader

Interactive Brokers offers its proprietary trading platforms, including WebTrader, tailored for experienced traders seeking advanced technical solutions like API trading. On the other hand, IG Markets provides its own trading platform and offers options like MT4, with a focus more on user-friendliness and accessibility, making it a suitable choice for beginner traders.

Deposit & Withdrawal Methods

FeatureIG MarketsInteractive Brokers
Payment methods
  • credit card
  • debit card
  • neteller
  • PayPal
  • skrill
  • credit card
  • debit card
  • BPay

Interactive Brokers, in comparison, has a narrower selection of supported deposit methods, including only credit/debit cards and a single e-wallet option. Conversely, IG Markets provides traders with a broader array of e-payment methods, offering a more diverse selection for enhanced convenience.

Others

FeatureIG MarketsInteractive Brokers
Others
  • Webinar
  • telephone
  • live chat
  • 24/7 availability
  • Webinar
  • Video Tutorial
  • telephone
  • live chat

Others

Both IG Markets and Interactive Brokers have good customer support, but IG Markets doesn’t provide as many learning materials and lacks a complete trading course. In contrast, Interactive Brokers offers a comprehensive Trading Academy with lots of helpful materials, tutorials, webinars, and various useful apps and software solutions to help traders learn and succeed.

Conclusion on Interactive Brokers vs IG Markets

Concluding IG Markets vs Interactive Brokers comparison we found both brokers are reliable and trustworthy with solid international offers and well-regulated nature. Both brokers provide proprietary platforms, low spreads and trading fees, and different trading conditions.

However, we would give the advantage to Interactive Brokers offering advanced conditions, particularly investment options in real stocks and futures, also offering Islamic account. While IG is more suitable for traders who prefer MT4 platform and more focus on Forex and CFDs trading. Here is our final recommendation:

  • IG Markets – 🥇Best MT4 Broker being comfortable for beginning traders
  • Interactive Brokers – 🥇 Best Broker for Trading Robots offering advanced technical solution and Best Real Stock Broker