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 |
IG and FXCM are well-known online brokers offering competitive pricing structures, though they differ significantly in their commissions and fees. IG impresses with its five-star rating, ranking 8th out of 63 brokers in the Commissions and Fees category. This UK-based broker excels with flexible execution options catering to various trading needs. IG's standard Forex Direct account provides spreads averaging 0.62 pips, translating to a total cost of 0.82 pips when considering the 0.2 pips commission. Meanwhile, the CFD account maintains slightly better-than-average spreads at 0.69 pips during peak hours. The broker further entices active traders with a tiered rebate program, offering discounts of up to 20% for high-volume transactions.
Among discerning traders, IG's DMA account attracts attention for offering substantial discounts through its tiered pricing system, especially for those who accumulate significant trading volumes. For instance, its DMA account requires a minimum balance of £1,000 and features average spreads of 0.62 pips on the EUR/USD pair, with commissions scaling down from $60 to just $10 per million traded based on volume. This structure is particularly appealing to seasoned traders seeking cost-effective executions.
In contrast, FXCM, rated four stars and ranked 25th, positions itself as a solid but slightly pricier option. FXCM's standard account spreads average 0.78 pips on the EUR/USD, though its commission-based accounts offer lower spreads of 0.28 pips, excluding commissions. Its Active Trader Rebate Program, available outside the EU and U.K., promises tiered rebates up to $25 per million traded. For instance, under specific conditions, such as a $25,000 account balance with $50 million in monthly trading volume, commissions per side can reduce to $2.5, leading to an effective spread of 0.78 pips. However, traders should consider that competitors like Tickmill propose more attractive deals for high-volume trades. Each broker has its strengths, with IG catering to a wider range of needs and FXCM offering niche advantages to active traders.
| 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 considering the available range of investments, IG and FXCM present markedly different offerings. IG stands out with an impressive 19,537 tradeable symbols, providing investors access to 97 forex pairs. Notably, IG allows clients to buy exchange-traded securities on both U.S. and international exchanges, giving them the option to own shares like Apple or Vodafone. Additionally, IG provides the ability to buy both actual cryptocurrencies and cryptocurrency derivatives, making it a versatile option for investors seeking extensive choices in one platform. However, IG does not offer copy trading, which might limit options for beginners looking for that specific feature.
In contrast, FXCM offers a more limited selection with 440 tradeable symbols and 46 forex pairs. The platform does not provide access to U.S. or international exchange-traded securities, nor does it allow the purchase of actual cryptocurrencies. It does, however, support trading in cryptocurrency derivatives and offers copy trading, which could be advantageous for those new to trading. FXCM's range of investments has earned it a 3.5-star rating, placing it at #47 for investment range according to ForexBrokers.com, while IG's comprehensive suite of options boasts a 5-star rating and a #4 rank in the same category.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 440 |
| Forex Pairs (Total) | 97 | 46 |
| 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
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FXCM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 95 |
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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.
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0 of 5| Overall Rating | IG | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | IG Review | FXCM Review |
| Broker Screenshots | IG | FXCM | |
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| 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 | ||
| 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) | |||
| 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) |
| Investments | IG | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 440 | |
| Forex Pairs (Total) | 97 | 46 | |
| 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 | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | IG Review | FXCM Review |
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