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 both offer competitive pricing, but they target slightly different needs. IG earns 5 out of 5 stars for commissions and fees and ranks #8 out of 63 brokers, while FXCM scores 4 out of 5 stars and ranks #26 out of 63. In plain terms, IG tends to deliver sharper costs for high-volume and DMA traders, whereas FXCM’s pricing is a touch higher than the industry average unless you qualify for its volume discounts.
IG’s Forex Direct (DMA) account is the highlight: in July 2023 the EUR/USD averaged a 0.62-pip spread, with an all-in cost around 0.82 pips once commissions are included. Commissions are tiered from about $60 per million at low volumes to $10 per million per side (about $20 round-turn) for very large traders, with a £1,000 minimum to access DMA via L2 Dealer. On IG’s spread-only CFD account, typical EUR/USD spreads averaged 0.69 pips during the main session (0.98 pips across the full day in July 2023; IG US averaged 1.18 pips). Professional clients can also qualify for active-trader rebates of roughly 10% to 20% off the spread, depending on monthly volume.
FXCM’s standard account spreads averaged 0.78 pips on EUR/USD in May 2024 across the EU, U.K., and Australia, and 1.38 pips under its St. Vincent and the Grenadines entity. Its commission-based setup posted an underlying 0.28-pip spread in May 2024, with an effective cost closer to 0.74 pips after commissions. The Active Trader program (availability varies by region) offers rebates from $5 to $25 per million traded; for example, in the U.K. a $25,000 balance and $50 million monthly volume can bring the commission to $2.50 per side ($5 round-turn), keeping effective costs around 0.78 pips based on typical core pricing. As with most brokers, spreads can widen during rollover and thin-liquidity periods.
| 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.
IG offers a far wider range of investments than FXCM. Both brokers support forex trading as CFDs or spot, but IG lists 19,537 tradeable symbols and 97 forex pairs, compared with FXCM’s 440 symbols and 46 pairs. Reflecting that breadth, IG earns 5 stars and ranks #4 out of 63 brokers for Range of Investments, while FXCM earns 3.5 stars and ranks #48.
IG also lets clients buy exchange-traded shares on U.S. and international markets, which FXCM does not offer. For crypto, both brokers provide cryptocurrency derivatives; however, only IG allows buying actual (delivered) crypto. If you want copy trading, FXCM includes it while IG does not. Overall, IG’s lineup is better suited to investors seeking many markets, whereas FXCM covers the basics with a few extras.
| 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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