Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare Alpari vs IG Group.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. IG Group received a rating of 4.50 stars over Alpari's 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. IG Group is regulated in a major hub, Alpari isn't. IG Group is a publicly traded company, while Alpari is not. How many currency pairs are available to trade? Alpari trails IG Group by 43 total currency pairs (for example, EUR/USD), with IG Group offering 91 and Alpari offering 48.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Alpari alongside IG Group offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both Alpari and IG Group provide clients with access to 31 total charting tools. Both Alpari and IG Group provide clients with access to 51 total indicators (eg, moving averages).
Overall, IG Group comes out on top with 5.00 stars over Alpari's 3.50 stars. And, when it comes to individual category awards, IG Group finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education in 2018, while Alpari came up with none of these.