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 | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG vs FXOpen: both brokers let you trade forex as either CFDs or spot. That said, IG offers far more markets, with 19,537 tradeable symbols and 97 currency pairs, compared with FXOpen’s 87 symbols and 25 pairs. Reflecting this breadth, ForexBrokers.com rates IG 5 stars and ranks it #4 out of 63 for Range of Investments, while FXOpen earns 3 stars and ranks #63.
IG also gives access to exchange-traded stocks on both U.S. and international exchanges (think Apple and Vodafone), plus the ability to buy actual cryptocurrency as well as crypto derivatives. FXOpen does not offer exchange-traded shares and supports crypto only via derivatives. One area where FXOpen stands out is copy trading (IG doesn’t support it). Choose IG if you want the widest market access, or consider FXOpen if copy trading is a priority.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 87 |
| Forex Pairs (Total) | 97 | 25 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | 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.
Comparing IG vs FXOpen for trading platforms and tools: both brokers offer free demo accounts, plus Windows desktop and web-based trading. IG adds a proprietary, in-house platform on top of MetaTrader 4, while FXOpen sticks to third-party platforms, offering MT4 and MT5. Copy trading is a key difference: FXOpen supports it and integrates ZuluTrade, whereas IG does not offer copy trading. Neither broker supports DupliTrade.
For charting and usability, both let you place trades directly from charts. IG provides 20 drawing tools compared to 15 at FXOpen, while FXOpen’s watchlists have 7 columns versus 5 at IG. Indicator totals aren’t specified, but both include the usual technical studies. Based on ForexBrokers.com’s scores for Trading Platforms and Tools, IG earns 5 stars and ranks #2 out of 63 brokers, while FXOpen earns 4 stars and ranks #54.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and FXOpen both offer mobile trading apps for iPhone and Android, complete with real-time quotes and price alerts for forex and other markets. You can create watchlists on both, but only IG syncs watchlists between the mobile app and your online account, so any changes you make update in both places.
Charting is strong on each app, with multiple time frames and the ability to draw trendlines. IG edges ahead with 33 built-in technical studies versus FXOpen’s 30, and IG auto-saves chart drawings while FXOpen does not. These differences show up in ratings: ForexBrokers.com gives IG 5 stars and ranks it #1 out of 63 brokers for Mobile Trading Apps, while FXOpen earns 4 stars and ranks #55.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | 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 |
| Mobile Watchlist | Yes | Yes |
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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | Yes | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing IG vs FXOpen on education, IG clearly offers more ways to learn. IG provides a full library of forex and CFD education with well over 10 articles and videos, monthly live client webinars, and a searchable archive of past sessions. You’ll find at least 10 beginner videos to get started and 10+ advanced videos for when you’re ready to go deeper, plus an investor dictionary with 50+ terms. IG earns 5 out of 5 stars for Education and is ranked #1 out of 63 brokers by ForexBrokers.com.
FXOpen’s education is more limited. It does not meet the 10-piece threshold for forex and CFD learning, does not run monthly client webinars, and has no searchable archive of recorded sessions. It also lacks large beginner and advanced video libraries. On the plus side, FXOpen offers an investor dictionary with 50+ terms. Overall, FXOpen scores 3 out of 5 stars for Education and ranks #59 out of 63. If you want a structured learning path with frequent webinars and lots of videos, IG is the stronger choice; if you only need a basic glossary, FXOpen may suffice.
| Feature |
IG
|
FXOpen
|
|---|---|---|
| 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 |
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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 76 |
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IG allows customers to buy both actual (delivered) cryptocurrency and cryptocurrency derivatives, while FXOpen only offers the ability to buy cryptocurrency derivatives.
IG provides a broader range of payment options including ACH, SEPA, PayPal, Visa, Mastercard, and bank wires, while FXOpen supports Visa, Mastercard, Skrill, and bank wires, but lacks ACH, SEPA, and PayPal options.
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/Central Bank 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. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | 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 | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | FXOpen | |
|---|---|---|---|
| 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 | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | IG | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 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 Trading | IG | FXOpen | |
|---|---|---|---|
| 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 | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | FXOpen | |
|---|---|---|---|
| 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 Pairs | IG | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | IG | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | IG Review |
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