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IG vs FXOpen 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is IG better than FXOpen? In our analysis of 23 international regulators across 39 of the best forex brokers, IG is considered low-risk, 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 Rating5 Stars3.5 Stars
Commissions & Fees5 Stars4 Stars
Offering of Investments5 Stars3 Stars
Platform & Tools5 Stars4 Stars
Mobile Trading5 Stars4 Stars
Research5 Stars3 Stars
Education5 Stars3 Stars
Trust Score9980
Winnercheck_circle
ReviewIG Review
RegulationIGFXOpen
Trust Score9980
Year Founded19742003
Publicly Traded (Listed)YesNo
BankYesNo
Tier-1 Licenses72
Tier-2 Licenses21
Tier-3 Licenses10
Authorised in European UnionYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)IGFXOpen
ASIC Authorised (Australia)YesYes
IIROC Authorised (Canada)NoNo
SFC Authorised (Hong Kong)NoNo
CBI Authorised (Ireland)NoNo
FSA Authorised (Japan)YesNo
MAS Authorised (Singapore)YesNo
FINMA Authorised (Switzerland)YesNo
FCA Authorised (U.K.)YesYes
CFTC Registered (USA)YesNo
FMA Authorised (New Zealand)YesNo
Tier-2 Licenses (Average Trust)IGFXOpen
CBRC Authorised (China)NoNo
CySEC Authorised (Cyprus)NoYes
SEBI Authorised (India)NoNo
ISA Authorised (Israel)NoNo
CBR Authorised (Russia)NoNo
FSCA Authorised (South Africa)YesNo
SEC Authorised (Thailand)NoNo
DFSA / Central Bank Authorised (UAE)YesNo
Tier-3 Licenses (Low Trust)IGFXOpen
SCB Authorised (Bahamas)NoNo
IFSC Authorised (Belize)NoNo
CIMA Authorised (Cayman Islands)NoNo
BMA Authorised (Bermuda)YesNo
FSC Authorised (British Virgin Islands)NoNo
FSC Authorised (Mauritius)NoNo
VFSC Authorised (Vanuatu)NoNo
InvestmentsIGFXOpen
Forex Trading (Spot or CFDs)YesYes
Tradeable Symbols (Total)1953787
Forex Pairs (Total)10025
U.S. Stock Trading (Non CFD)YesNo
Int'l Stock Trading (Non CFD)YesNo
Social Trading / Copy TradingYesYes
Cryptocurrency (Physical)NoNo
Cryptocurrency (CFD)YesYes
DisclaimersNote: 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 - Standard0.86 (September 2022)N/A
All-in Cost EUR/USD - Active0.5957 (September 2022)N/A
Active Trader or VIP DiscountsYesYes
Execution: Agency BrokerYesYes
Execution: Market MakerYesYes
FundingIGFXOpen
Minimum Initial Depositยฃ250.00$100
PayPal (Deposit/Withdraw)YesNo
Skrill (Deposit/Withdraw)NoYes
Visa/Mastercard (Credit/Debit)YesYes
Bank Wire (Deposit/Withdraw)YesYes
Trading PlatformsIGFXOpen
Proprietary PlatformYesNo
Desktop Platform (Windows)YesYes
Web PlatformYesYes
Social Trading / Copy TradingYesYes
MetaTrader 4 (MT4)YesYes
MetaTrader 5 (MT5)NoYes
cTraderNoNo
DupliTradeNoNo
ZuluTradeNoYes
Trading ToolsIGFXOpen
Virtual Trading (Demo)YesYes
Alerts - Basic FieldsYesYes
Watchlists - Total Fields147
Charting - Indicators / Studies (Total)3330
Charting - Drawing Tools (Total)2015
Charting - Trade From ChartYesYes
Charts can be savedYesYes
Mobile TradingIGFXOpen
Android AppYesYes
Apple iOS AppYesYes
Mobile Alerts - Basic FieldsYesYes
Mobile WatchlistYesYes
Watchlist SyncingYesNo
Mobile Charting - Indicators / Studies3330
Mobile Charting - Draw TrendlinesYesYes
Mobile Charting - Multiple Time FramesYesYes
Mobile Charting - Drawings AutosaveYesNo
Forex CalendarYesYes
ResearchIGFXOpen
Daily Market CommentaryYesYes
Forex News (Top-Tier Sources)YesYes
AutochartistYesNo
Trading Central (Recognia)NoNo
Social Sentiment - Currency PairsYesNo
Economic CalendarYesYes
EducationIGFXOpen
Has Education - Forex or CFDsYesNo
Client WebinarsYesNo
Client Webinars (Archived)YesNo
Videos - Beginner Trading VideosYesNo
Videos - Advanced Trading VideosYesNo
Investor Dictionary (Glossary)YesYes
Major Forex PairsIGFXOpen
GBP/USDYesYes
USD/JPYYesYes
EUR/USDYesYes
USD/CHFYesYes
USD/CADYesYes
NZD/USDYesYes
AUD/USDYesYes
ReviewIG Review
OverallIGFXOpen
Overall Rating5 Stars3.5 Stars
Commissions & Fees5 Stars4 Stars
Offering of Investments5 Stars3 Stars
Platform & Tools5 Stars4 Stars
Mobile Trading5 Stars4 Stars
Research5 Stars3 Stars
Education5 Stars3 Stars
Trust Score9980
Winnercheck_circle
ReviewIG Review
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IG vs FXOpen Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 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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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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