To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare FXCM vs IG Group.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. IG Group is a better option with a 4.5 star rating over FXCM's 3.5 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. FXCM alongside IG Group are regulated in a major hub. FXCM and IG Group are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. FXCM trails IG Group by 52 total currency pairs (for example, EUR/USD), with IG Group offering 91 and FXCM offering 39.
To round out our comparison of FXCM vs IG Group, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Both FXCM and IG Group offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. IG Group trails FXCM by 14 total charting tools, with FXCM offering 31 and IG Group offering 17. FXCM offers its clients access to 51 different indicators (for example, volume) while IG Group has 22 available indicators, a difference of 29.
Overall, IG Group takes the upper hand with 4.5 stars over FXCM's 4 stars. And, when it comes to individual category awards, IG Group posted awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while FXCM found itself with none of these.