Written by ForexBrokers.com
In this head to head comparison of IG vs FXCM, 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.
IG and FXCM are both seasoned players in the online brokerage industry, with IG having been around since 1974 and FXCM since 1999. Both companies are publicly traded, signaling transparency and accountability, but only IG also functions as a bank. When it comes to regulatory trust, IG shines brighter, holding 8 Tier-1 licenses, a higher benchmark for high trust, compared to FXCM's 4. Both firms hold 2 Tier-2 licenses, which are also considered reliable.
According to ForexBrokers.com, IG boasts an impressive Trust Score of 99 out of 99, categorizing it as highly trusted. In comparison, FXCM holds a Trust Score of 95, which still places it in the highly trusted category but just a notch below IG. This demonstrates IG's stronger regulatory framework, offering potential investors a sense of greater security when trading through their platform.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Year Founded | 1974 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 4 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of online brokers IG and FXCM, IG stands out with its flexible execution methods and dedication to active traders. IG's Forex Direct accounts cater to high-volume traders with competitive pricing, offering an average spread of 0.62 pips for the EUR/USD as of July 2023. While IG's spreads hover around the industry average, active traders can benefit from significant rebates, with potential savings of up to 20% for qualifying professionals. IG's Direct Market Access (DMA) account further enhances its cost-effectiveness, especially for traders dealing with high volumes, making IG a top choice for serious traders. Thanks to its attractive pricing and trader benefits, IG earns a commendable 5-star rating for commissions and fees and ranks 8th out of 63 brokers by ForexBrokers.com.
On the other hand, FXCM, while slightly above the industry average concerning spreads, offers a competitive commission-based option. FXCM's commission-based accounts achieve lower spreads, with an average of 0.28 pips for May 2024, though the overall effective spread rises to 0.74 pips after considering commission costs. For active traders, FXCM provides a five-tier rebate program, potentially reducing costs based on trading volume. While FXCM's discount opportunities are beneficial, they may not match the offerings of some competitors like Tickmill and FP Markets. Consequently, FXCM garners a solid 4-star rating for commissions and fees, placing it 24th in ForexBrokers.com's ranking.
In summary, IG offers strong pricing, especially for active and high-volume traders, with multiple rebate and account options like Forex Direct and DMA to suit different trading needs. FXCM offers decent pricing with potential rebates but may not be as cost-effective in the long run, making IG the better choice for traders focused on minimizing costs. Whether choosing IG for its comprehensive services or FXCM for its rebate programs, traders should assess their trading volume and habits to decide which broker best meets their needs.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Minimum Deposit | £250.00 | Starts from $50 |
| Average Spread EUR/USD - Standard | 0.98 | 0.78 |
| All-in Cost EUR/USD - Active | 0.82 | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG and FXCM for investment choices, IG emerges as a leader with a vast selection of trading options. IG offers traders access to 19,537 tradeable symbols, including 97 forex pairs, alongside the ability to buy both actual cryptocurrencies and cryptocurrency derivatives. Moreover, IG provides access to exchange-traded securities on U.S. and international exchanges, allowing clients to invest in companies like Apple and Vodafone directly. While IG doesn't support copy trading, its comprehensive range of investment offerings earns it a 5-star rating for variety and a fourth-place rank among 63 brokers, according to ForexBrokers.com.
FXCM, on the other hand, presents a more limited range of investment choices in comparison. With 440 tradeable symbols and 43 forex pairs, FXCM does provide forex trading and cryptocurrency derivatives, but it does not offer the option to buy actual cryptocurrencies or exchange-traded securities from U.S. or international markets. However, FXCM supports copy trading, catering to investors interested in following the strategies of seasoned traders. Despite these features, FXCM's range of investment options results in a 3.5-star rating and a 47th place ranking in comparison to its peers.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 440 |
| Forex Pairs (Total) | 97 | 43 |
| 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). | 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.
When comparing IG and FXCM, two widely recognized online brokers, both offer a range of trading platforms and tools that cater to different trading needs. Both brokers provide free virtual demo accounts for simulated trading, helping traders practice without real exposure to financial risk. Each broker features a proprietary trading platform, developed in-house, to enhance user experience and ensure smooth trading operations. Traders using either IG or FXCM have access to Windows-based desktop download platforms and convenient web-based platforms that operate directly through internet browsers, making it easy to trade from almost anywhere.
While both IG and FXCM support MetaTrader 4 (MT4), a popular choice among traders, neither offers MetaTrader 5 (MT5). However, FXCM distinguishes itself by supporting copy trading and ZuluTrade, which IG does not provide. For charting, IG offers 20 drawing tools compared to FXCM's 10, although both allow trades directly from a stock chart. FXCM gives users more flexibility with watch lists, offering 13 columns to IG's 5. Both brokers receive a commendable 5-star rating for their trading platforms and tools, although IG is ranked second by ForexBrokers.com compared to FXCM's sixth place. This solidifies IG's reputation for providing exceptional trading solutions.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 33 | 115 |
| Charting - Drawing Tools (Total) | 20 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and FXCM offer mobile trading apps for iPhone and Android users, making it easy for traders to stay connected on the go. Each app provides stock or forex price alerts and ensures that your watchlists sync seamlessly with your online account. You can find real-time quotes and enjoy the functionality of drawing trendlines on charts with both apps, offering flexibility for those who rely on multiple time frames, whether daily, weekly, or intraday. In addition, both apps automatically save your chart drawings, allowing you to focus on strategy rather than setup time.
When it comes to technical studies, IG offers 33 options, while FXCM provides a broader selection with 59. Despite this, IG shines with a perfect 5-star rating in mobile app performance, ranked #1 by ForexBrokers.com, underscoring its user-friendly interface and comprehensive offerings. FXCM isn't far behind with a solid 4.5-star rating and a respectable rank of #16. Both brokers present a competitive choice for mobile trading, but IG takes a slight edge in overall satisfaction and market recognition.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, both IG and FXCM provide daily market commentary and access to forex news from reputable sources such as Bloomberg and Reuters. However, IG distinguishes itself by offering tools from Autochartist, which FXCM lacks. On the other hand, FXCM offers technical analysis tools from Trading Central, which IG does not provide. Both brokers feature sentiment-based trading tools and market research via TipRanks, but IG edges ahead by including additional resources from Acuity Trading, such as Signal Centre, which FXCM does not offer.
Both IG and FXCM provide essential tools like economic calendars for tracking global events, yet IG's enhanced suite of research tools earns it a higher rating of five stars compared to FXCM's 4.5 stars in the research category. Consequently, IG is ranked higher by ForexBrokers.com, positioned as the second best among 63 brokers, whereas FXCM holds the 11th spot. This indicates that while both brokers deliver valuable research capabilities, IG provides a more comprehensive range of resources for market analysis.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources provided by IG and FXCM for beginners exploring forex and CFDs, both platforms stand out by offering a minimum of ten educational materials, including articles and videos that cater to novices. IG and FXCM each conduct monthly online webinars, alongside maintaining an archive of past sessions for on-demand learning. Both brokers supply over ten beginner-focused trading videos and equal numbers of advanced videos catering to experienced traders, ensuring a well-rounded educational foundation for all levels.
IG takes the lead with a perfect five-star rating in education from industry rankings and is ranked as the top broker out of 63 by ForexBrokers.com. It provides an investor dictionary with over 50 terms explained for better understanding. FXCM, while also offering these features, holds a slightly lower education rating of 4.5 stars and ranks 14th. Despite this difference, FXCM remains a competitive option with extensive resources. For those prioritizing premier educational content, IG's offerings and industry recognition may make it the preferred choice.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FXCM. IG finished with an overall rank of #1, while FXCM finished with an overall rank of #15.
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
|
FXCM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 95 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
When comparing online brokers IG and FXCM, IG stands out by offering both actual delivered cryptocurrency and cryptocurrency derivatives, whereas FXCM only provides access to cryptocurrency derivatives and not the actual cryptocurrency itself.
Both IG and FXCM provide options for ACH or SEPA transfers, PayPal, Visa, Mastercard, and bank wires for depositing or withdrawing funds, but FXCM also offers Skrill, which is not available with IG.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IG | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | IG Review | FXCM Review |
| Broker Screenshots | IG | FXCM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | IG | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1974 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 4 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| 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 | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 440 | |
| Forex Pairs (Total) | 97 | 43 | |
| 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). | 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 | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | FXCM | |
|---|---|---|---|
| Minimum Deposit | £250.00 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | FXCM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | IG | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 13 | |
| Charting - Indicators / Studies (Total) | 33 | 115 | |
| Charting - Drawing Tools (Total) | 20 | 10 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | FXCM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | FXCM | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | IG | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | IG Review | FXCM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill