IG Markets vs Interactive Brokers: Comparison and Analysis

Interactive Brokers vs IG Markets: Which Broker is Right for You?

Are you trying to decide between Interactive Brokers and IG Markets? Both brokers offer a wide range of trading assets and platforms, but which one is the best fit for your needs? In this comparison article, we’ll take a detailed look at the features of both brokers to help you make an informed decision.

Security

When it comes to security, both Interactive Brokers and IG Markets are highly regulated by multiple authorities. Interactive Brokers is regulated by FCA, several EU regulators, ASIC, HKSFC, SEBI, IIROC, FFAJ, MAS, SEC, and CFTC, while IG Markets is regulated by ASIC, FMA, FSCA, NFA, MAS, DFSA, JFSA, FINMA, and BMA. IG Markets also holds a higher security rating of 98 compared to Interactive Brokers’ rating of 95.

Demo Accounts

Interactive Brokers offers an unlimited demo account with virtual funds of $1,000,000, which can be restored by contacting customer support. IG Markets also offers an unlimited demo account with virtual funds of $30,000, which can be restored by contacting customer support.

Account Opening

Interactive Brokers has no minimum deposit requirement, but requires at least $2,000 to trade with margin. The broker offers over 25 base currencies, including USD, EUR, AUD, and GBP, and accepts wire transfers, credit/debit cards, eWallets, IRA transfers, checks, and several local payment methods. Interactive Brokers offers a range of account types, including Standard, Margin, Cash, and Professional accounts.

IG Markets requires a minimum deposit of $300 for most countries and offers account currencies in USD, GBP, and EUR. The broker accepts wire transfers, credit/debit cards, and eWallets, and offers a range of account types, including Standard, Limited Risk, Spread Betting, Option and Turbo24, Share Dealing, Islamic, Professional, and Select accounts.

Social-Copy Trading

Interactive Brokers does not offer social or copy trading features, while IG Markets also does not offer these features.

Markets

Interactive Brokers offers a wide range of trading assets, including Forex, Commodities, Crypto Assets, Stocks, ETFs, and Futures and Options. The broker offers over 100 Forex pairs, 10 Commodities, 23 Crypto Assets, 5000+ Stocks, 50+ ETFs, and 20 Futures and Options.

IG Markets also offers a wide range of trading assets, including Forex, Commodities, Crypto Assets, Stocks, ETFs, and Futures and Options. The broker offers 90 Forex pairs, 35 Commodities, 12 Crypto Assets, 16,000+ Stocks, 5,400+ ETFs, and 30 Futures and Options.

Trading Fees

Interactive Brokers offers variable spreads starting from 0.1 pip on Forex, with commissions of up to $7 per lot traded. The broker also offers very low fees on stocks and ETFs, with financing rates from 0.75% and no commissions on stocks and ETFs with the IBKR Lite Plan. With the IBKR Pro Plan, commissions start from $0.0005 per share or ETF.

IG Markets offers variable spreads starting from 0.6 pips on Forex, with commissions starting from $0 commission on real US stocks for FCA, ASIC, DFSA, and JFSA traders.

Platforms

Interactive Brokers offers a proprietary trading platform available as desktop, webtrader, and mobile, as well as VPS services, FIX API, and TWS API integration. IG Markets offers a proprietary platform available via web and desktop, as well as L2 Dealer for stockbroking, ProRealTime platform for advanced chart analysis, and MetaTrader 4 (MT4) available via WebTrader, Desktop, and Mobile.

Education/Customer Care

Interactive Brokers offers a wide range of educational materials for both beginners and advanced traders, including tutorial videos, IBKR blog, trader’s academy, and more. The broker also offers customer care via email, telephone, and live chat in 8 languages.

IG Markets offers an extensive education section suitable for every trader, as well as a dedicated Academy App. The broker also offers customer care via phone, email, and live chat in over 13 languages.

Conclusion

Both Interactive Brokers and IG Markets offer a wide range of trading assets and platforms, as well as strong security and customer care. However, Interactive Brokers may be a better fit for advanced traders looking for a wider range of account types and trading assets, while IG Markets may be a better fit for short-term investors looking for a wider range of CFD assets. Ultimately, the choice between Interactive Brokers and IG Markets will depend on your individual needs and preferences.