Written by ForexBrokers.com
In this head to head comparison of IG vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing IG and FXOpen, both online brokers have distinct histories and regulatory standings. IG, established in 1974, is a publicly traded company and operates as a bank, enhancing its financial credibility. It holds 8 Tier-1 licenses and 2 Tier-2 licenses, making it highly trusted according to ForexBrokers.com, which rates IG with a near-perfect Trust Score of 99. This rating reflects IG’s long-standing reputation and compliance with top regulatory standards.
On the other hand, FXOpen, founded in 2003, is not publicly traded and does not operate as a bank. It holds 2 Tier-1 licenses but has no Tier-2 licenses, indicating a different level of regulatory coverage compared to IG. As a result, FXOpen has a Trust Score of 76, seen as an average risk per ForexBrokers.com. This suggests that while FXOpen is reasonably trusted, its trust level does not reach that of the more extensively regulated IG.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Year Founded | 1974 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of IG and FXOpen, IG emerges as a strong contender, particularly for active forex traders. Rated 5 stars and ranked #8 out of 63 brokers by ForexBrokers.com, IG offers scalable execution across various products with competitive pricing for its Forex Direct accounts. For July 2023, average spreads on its main Forex Direct account were 0.62 pips, which, when combined with a per-trade commission of 0.2 pips, totaled an effective spread of 0.82 pips. The broker provides additional incentives like active trader rebates, offering up to a 20% spread rebate for high-volume traders, reducing costs effectively. These competitive spreads and flexible pricing models make IG an attractive choice for traders looking for value.
In contrast, FXOpen holds a 4-star rating and ranks #45 in the same category. Unfortunately, detailed average spread data for FXOpen is not available, which makes direct comparison with IG challenging. Due to the lack of detailed spread information, it remains unclear how FXOpen's pricing and fees fully stack up against those of IG. This limited transparency may affect a trader's decision when weighing fee structures as a crucial factor for their trading strategy.
To summarize, IG's extensive fee details provide a clearer picture of its competitive pricing and incentives designed for high-volume traders. With its top-tier star rating and higher ranking, IG proves to be a robust option for those looking to minimize trading costs. While FXOpen also offers reliable services, the absence of comprehensive spread data may place it at a disadvantage for those seeking detailed transparency in trading fees.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 |
| Average spread (EUR/USD) - Standard account | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG vs FXOpen: when it comes to range of investments, the difference is big. IG lists 19,537 tradeable symbols and 97 forex pairs, while FXOpen offers 87 symbols and 25 forex pairs. Both brokers let you trade forex as either CFDs or spot. Independent ratings echo the gap: IG earns 5 stars and ranks #4 out of 63 brokers for Range of Investments, whereas FXOpen earns 3 stars and ranks #63.
IG also supports buying real exchange-traded shares in both the U.S. (such as Apple on NASDAQ) and abroad (such as Vodafone on the London Stock Exchange). FXOpen does not offer exchange-traded stocks. For crypto, IG lets you buy both actual coins and crypto CFDs; FXOpen offers crypto CFDs only. One area where FXOpen stands out is copy trading, which it supports (IG does not). In short, IG suits those seeking wide market access, while FXOpen fits traders focused on CFDs who want copy trading.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 87 |
| Forex Pairs (Total) | 97 | 25 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
IG and FXOpen both offer free demo (paper) accounts so you can practice risk‑free. IG provides its own in-house trading platform alongside MetaTrader 4 (MT4), while FXOpen relies on third-party platforms and supports both MT4 and MetaTrader 5 (MT5). Each broker offers a Windows desktop platform and a web-based platform, and both let you place trades directly from charts.
For copy trading, FXOpen has it and IG does not. When it comes to quality of platforms and tools, IG is rated 5 stars and ranked #2 out of 63 brokers by ForexBrokers.com, while FXOpen is rated 4 stars and ranked #54. Choose IG if you want an in-house platform and top-rated tools; pick FXOpen if MT5 and copy trading are must-haves.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and FXOpen both offer mobile trading apps for iPhone and Android, and each supports stock or forex price alerts. Charting tools are strong on both, with the ability to draw trendlines. IG includes 33 technical studies versus 30 on FXOpen. Key differences: IG syncs watchlists between the mobile app and your online account, while FXOpen does not, and IG auto-saves chart drawings, whereas FXOpen does not.
In independent testing, IG’s mobile trading app earned 5 stars and ranks #1 out of 63 brokers on ForexBrokers.com, while FXOpen earned 4 stars and ranks #55. If synced watchlists, more built‑in indicators, and automatic chart-saving are priorities, IG has the edge. If you mainly need iPhone or Android access with alerts and core charting, FXOpen covers the basics.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
IG and FXOpen both deliver daily market commentary, premium forex news from major sources like Bloomberg, Reuters, and Dow Jones, and an economic calendar to track upcoming events. The main differences show up in tools: IG includes Autochartist, a sentiment tool that shows the long/short ratio, plus research from TipRanks and Acuity Trading (Signal Centre). FXOpen does not offer Autochartist or a sentiment tool, and it doesn’t indicate access to TipRanks or Acuity Trading. Neither broker lists Trading Central.
Ratings reflect these gaps: IG earns 5 stars for research and ranks #2 out of 63 brokers on ForexBrokers.com, while FXOpen holds 3 stars and ranks #64. If you want a wider mix of screening, sentiment, and third‑party insights, IG has the edge; if basic news, commentary, and a calendar are enough, FXOpen covers the essentials.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | No |
| Client sentiment data | Yes | No |
| TipRanks | Yes | |
| Acuity Trading | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners learning forex and CFD trading, IG is the stronger choice. It runs online client webinars at least once a month and offers 10 or more beginner videos as well as 10 or more advanced videos, so you can start with the basics and grow into more complex topics. Independent reviews back this up: IG earns 5 out of 5 stars for Education and ranks #1 out of 63 brokers on ForexBrokers.com.
FXOpen trails for learning support. It does not host monthly educational webinars and doesn’t have 10 or more beginner or advanced videos. That smaller set of materials is reflected in its scores: 3 out of 5 stars for Education and a #59 ranking out of 63. If you want the most beginner-friendly path, IG is the clearer pick; FXOpen may suit self-starters who don’t need much guidance.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than FXOpen. IG finished with an overall rank of #1, while FXOpen finished with an overall rank of #54.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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FXOpen
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|---|---|---|
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| Trust Score | 99 | 76 |
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In the IG vs FXOpen comparison, IG lets you buy actual (delivered) cryptocurrency and trade cryptocurrency CFDs, while FXOpen does not support purchasing real crypto but does offer crypto CFD trading.
IG supports ACH/SEPA, PayPal, and bank wires (but not Skrill), whereas FXOpen does not support ACH/SEPA and its availability for PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IG | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | IG Review |
| Broker Screenshots | IG | FXOpen | |
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| Regulation | IG | FXOpen | |
|---|---|---|---|
| Trust Score | 99 | 76 | |
| Year Founded | 1974 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IG | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 87 | |
| Forex Pairs (Total) | 97 | 25 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IG | FXOpen | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IG | FXOpen | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | IG | FXOpen | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | IG | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | FXOpen | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | No | |
| TipRanks | Yes | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | FXOpen | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IG | FXOpen | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IG Review |
| Overall | IG | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | IG Review |
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