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IG vs FXOpen 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is IG better than FXOpen? In our analysis of 23 international regulators across 62 of the best forex brokers, IG is considered highly trusted, with an overall Trust Score of 99 out of 99. FXOpen is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Overall RatingIGFXOpen
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3/5 Stars
Education 5/5 Stars 3/5 Stars
Trust Score 99 80
Winner check_circle
Review IG Review
RegulationIGFXOpen
Trust Score 99 80
Year Founded 1974 2003
Publicly Traded (Listed) Yes No
Bank Yes No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 7 2
Tier-2 Licenses 2 1
Tier-3 Licenses 1 0
Tier-1 Licenses (High Trust)IGFXOpen
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) Yes No
Tier-2 Licenses (Average Trust)IGFXOpen
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) Yes No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) Yes No
Tier-3 Licenses (Low Trust)IGFXOpen
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) Yes No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsIGFXOpen
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 19537 87
Forex Pairs (Total) 100 25
U.S. Stock Trading (Non CFD) Yes No
Int'l Stock Trading (Non CFD) Yes No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostIGFXOpen
Average Spread EUR/USD - Standard 0.86 info N/A info
All-in Cost EUR/USD - Active 0.5957 info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingIGFXOpen
Minimum Deposit £250.00 $100
PayPal (Deposit/Withdraw) Yes No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsIGFXOpen
Proprietary Platform Yes No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
Social Trading / Copy Trading Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No Yes
cTrader No No
DupliTrade No No
ZuluTrade No Yes
Trading ToolsIGFXOpen
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 14 7
Charting - Indicators / Studies (Total) 33 30
Charting - Drawing Tools (Total) 20 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingIGFXOpen
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 33 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes Yes
ResearchIGFXOpen
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes No
Trading Central (Recognia) No No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationIGFXOpen
Has Education - Forex or CFDs Yes No
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsIGFXOpen
GBP/USD Yes Yes
USD/JPY Yes Yes
EUR/USD Yes Yes
USD/CHF Yes Yes
USD/CAD Yes Yes
NZD/USD Yes Yes
AUD/USD Yes Yes
Review IG Review
OverallIGFXOpen
Overall Rating 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3/5 Stars
Education 5/5 Stars 3/5 Stars
Trust Score 99 80
Winner check_circle
Review IG Review
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IG vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare IG vs FXOpen.

Does IG or FXOpen offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is IG or FXOpen safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. IG holds 7 global Tier-1 licenses, while FXOpen holds 2. IG holds 2 global Tier-2 licenses, while FXOpen holds 1. In our analysis of 23 international regulators across 50 brokers, IG earned a higher Trust Score than FXOpen.

Which trading platform is better: IG or FXOpen?

To compare the trading platforms of both IG and FXOpen, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both IG and FXOpen offer MetaTrader 4 (MT4).IG and FXOpen both offer copy trading.

How many forex pairs and CFDs are available to trade?

IG provides traders 100 currency pairs (e.g., EUR/USD) compared to FXOpen's 25 available pairs. Forex pairs aside, IG offers traders access to 19537 CFDs while FXOpen has 87 available CFDs, a difference of 19450.

Can I trust IG?

IG is a publicly traded company, operates a regulated bank, and is authorised by seven tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). IG is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Financial Markets Authority (FMA), and the Commodity Futures Trading Commission (CFTC).

Can I trust FXOpen?

FXOpen is not a publicly traded company, doesn't operate a bank, and is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FXOpen is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

Is IG good?

IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.

Is FXOpen good?

FXOpen is a long standing MetaTrader broker with a narrow offering and few benefits beyond a standard MetaTrader experience coupled with social-trading platforms ZuluTrade and Myfxbook.

Overall winner: IG

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announcementPlease 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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